Merck (MRK) FY2021 results: revenue $48.7 billion, up 17.3% on the year
Merck & Co., Inc. (MRK) reported revenue of $48.7 billion for fiscal 2021, the year ended 31 December 2021, up 17.3% on the year before. Net income was $13.0 billion, up 84.6%, and diluted earnings per share $5.14. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2022.
Revenue
$48.7 billion
+17.3% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$13.0 billion
+84.6% on the year
FY2014FY2021
Diluted EPS
$5.14
+84.9% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
14,109
10,253
13,440
+37.6%
Capital expenditure
4,448
4,429
3,369
+0.4%
Free cash flow
9,661
5,824
10,071
+65.9%
Free cash flow margin
19.8%
14.0%
25.7%
Cash from investing
n/a
-9,443
-2,629
Cash from financing
n/a
-2,832
-8,861
Depreciation and amortisation
3,178
3,469
3,652
-8.4%
Share-based compensation
479
441
388
+8.6%
Buybacks
840
1,281
4,780
-34.4%
Dividends paid
6,610
6,215
5,695
+6.4%
Dividend per share
$2.64
$2.48
$2.26
+6.5%
Diluted shares, weighted
2,538m
2,541m
2,580m
-0.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
38,184
25,317
25,907
+50.8%
Non-controlling interest
73.0
87.0
94.0
-16.1%
Debt
33,100
31,800
26,300
+4.1%
Operating lease liabilities
1,225
1,335
768
-8.2%
Other liabilities
33,112
33,049
31,328
+0.2%
Total liabilities and equity
105,694
91,588
84,397
+15.4%
Fixed assets
19,279
17,000
14,297
+13.4%
Goodwill
21,264
18,882
18,069
+12.6%
Intangible assets
22,933
14,101
14,196
+62.6%
Investments
370
785
2,243
-52.9%
Cash and equivalents
8,096
8,062
9,676
+0.4%
Receivables
9,230
6,803
6,778
+35.7%
Inventory
5,953
5,554
5,978
+7.2%
Other assets
18,569
20,401
13,160
-9.0%
Total assets
105,694
91,588
84,397
+15.4%
10-K for the year ended 31 December 2021, filed 25 February 2022: the filing.