Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.8B | $40.1B | $42.3B | $39.1B | $41.5B | $48.7B | $59.3B | $60.1B | $64.2B | $65.0B |
| Revenue growth | — | 0.8% | 5.4% | -7.5% | 6.1% | 17.3% | 21.7% | 1.4% | 6.7% | 1.3% |
| Net income | $3.92B | $2.39B | $6.22B | $9.84B | $7.07B | $13.0B | $14.5B | $365M | $17.1B | $18.3B |
| Net margin | 9.8% | 6.0% | 14.7% | 25.2% | 17.0% | 26.8% | 24.5% | 0.6% | 26.7% | 28.1% |
| EPS (diluted) | $1.41 | $0.87 | $2.32 | $3.81 | $2.78 | $5.14 | $5.71 | $0.14 | $6.74 | $7.28 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10.4B | $6.45B | $10.9B | $13.4B | $10.3B | $13.1B | $19.1B | $13.0B | $21.5B | $16.5B |
| Capital expenditures | $1.61B | $1.89B | $2.62B | $3.37B | $4.43B | $4.45B | $4.39B | $3.86B | $3.37B | $4.11B |
| Free cash flow | $8.76B | $4.56B | $8.31B | $10.1B | $5.82B | $8.67B | $14.7B | $9.14B | $18.1B | $12.4B |
| Share buybacks | $3.43B | $4.01B | $9.09B | $4.78B | $1.28B | $840M | $0.00 | $1.35B | $1.31B | $5.08B |
| Dividends paid | $5.12B | $5.17B | $5.17B | $5.70B | $6.21B | $6.61B | $7.01B | $7.45B | $7.84B | $8.18B |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $6.51B | $6.09B | $7.96B | $9.68B | $8.05B | $8.10B | $12.7B | $6.84B | $13.2B | $14.6B |
| Total assets | $95.4B | $87.9B | $82.6B | $84.4B | $91.6B | $106B | $109B | $107B | $117B | $137B |
| Long-term debt | $24.3B | $21.4B | $19.8B | $22.7B | $25.4B | $30.7B | $28.7B | $33.7B | $34.5B | $46.8B |
| Shareholders' equity | $40.1B | $34.3B | $26.7B | $25.9B | $25.3B | $38.2B | $46.0B | $37.6B | $46.3B | $52.6B |
| Retained earnings | $44.1B | $41.4B | $42.6B | $46.6B | $47.4B | $53.7B | $61.1B | $53.9B | $63.1B | $73.1B |
| Shares (wtd avg diluted) | 2.79B | 2.75B | 2.68B | 2.58B | 2.54B | 2.54B | 2.54B | 2.55B | 2.54B | 2.51B |
Every figure is extracted from Merck & Co., Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.