Merck (MRK) FY2024 results: revenue $64.2 billion, up 6.7% on the year
Merck & Co., Inc. (MRK) reported revenue of $64.2 billion for fiscal 2024, the year ended 31 December 2024, up 6.7% on the year before. Net income was $17.1 billion, up 4589.6%, and diluted earnings per share $6.74. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$64.2 billion
+6.7% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$17.1 billion
+4,589.6% on the year
FY2017FY2024
Diluted EPS
$6.74
+4,714.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
21,468
13,006
19,095
+65.1%
Capital expenditure
3,372
3,863
4,388
-12.7%
Free cash flow
18,096
9,143
14,707
+97.9%
Free cash flow margin
28.2%
15.2%
24.8%
Cash from investing
-7,734
-14,083
-4,960
Cash from financing
-7,032
-4,810
-9,119
Depreciation and amortisation
4,504
3,828
3,924
+17.7%
Share-based compensation
761
645
541
+18.0%
Buybacks
1,306
1,346
0.0
-3.0%
Dividends paid
7,840
7,445
7,012
+5.3%
Dividend per share
$3.12
$2.96
$2.80
+5.4%
Diluted shares, weighted
2,541m
2,547m
2,542m
-0.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
46,313
37,581
45,991
+23.2%
Non-controlling interest
59.0
54.0
67.0
+9.3%
Debt
37,100
35,100
30,700
+5.7%
Operating lease liabilities
877
928
1,013
-5.5%
Other liabilities
32,757
33,012
31,389
-0.8%
Total liabilities and equity
117,106
106,675
109,160
+9.8%
Fixed assets
23,779
23,051
21,422
+3.2%
Goodwill
21,668
21,197
21,204
+2.2%
Intangible assets
16,370
18,011
20,269
-9.1%
Investments
910
504
1,513
+80.6%
Cash and equivalents
13,242
6,841
12,694
+93.6%
Receivables
10,278
10,349
9,450
-0.7%
Inventory
6,109
6,358
5,911
-3.9%
Other assets
24,750
20,364
16,697
+21.5%
Total assets
117,106
106,675
109,160
+9.8%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.