For the quarter ending 2025-09-30, MRK had $10,187M increase in cash & cash equivalents over the period. $6,835M in free cash flow.
| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|---|
| Net income | 5,787 | 4,429 | 5,085 | 3,744 |
| Amortization | 622 | 601 | 597 | 675 |
| Depreciation | 532 | 518 | 502 | 522 |
| Intangible asset impairment charges | - | - | - | 39 |
| Income from investments in equity securities, net | 374 | 99 | 90 | -155 |
| Charges for research and development asset acquisitions | 0 | 0 | 0 | 3,456 |
| Deferred income taxes | -212 | -448 | -186 | -616 |
| Share-based compensation | 204 | 216 | 195 | 187 |
| Other | 51 | -335 | -109 | 101 |
| Accounts receivable | - | - | - | 244 |
| Inventories | - | - | - | 835 |
| Trade accounts payable | - | - | - | 182 |
| Accrued and other current liabilities | - | - | - | -2,328 |
| Income taxes payable | - | - | - | 1,023 |
| Noncurrent liabilities | - | - | - | -49 |
| Other | - | - | - | 1,416 |
| Net changes in assets and liabilities | -1,314 | 2,259 | 1,900 | - |
| Net cash provided by operating activities | 7,822 | 3,293 | 2,500 | 3,450 |
| Capital expenditures | 987 | 764 | 1,328 | 937 |
| Purchases of securities and other investments | 0 | 612 | 595 | 455 |
| Proceeds from sale of seagen inc. common stock | - | - | - | 0 |
| Proceeds from sales of securities and other investments | 575 | 601 | 456 | 7 |
| Acquisition of eyebiotech limited, net of cash acquired | 0 | 0 | 0 | 0 |
| Acquisition of elanco animal health incorporated aqua business | 0 | - | - | 2 |
| Acquisition of harpoon therapeutics, inc., net of cash acquired | 0 | - | - | 0 |
| Acquisition of imago biosciences inc., net of cash acquired | - | - | - | 0 |
| Acquisition of mk-1045 (formerly cn201) from curon pharmaceutical | 0 | - | - | 0 |
| Other | -129 | -5 | 20 | 57 |
| Net cash used in investing activities | -283 | -770 | -1,487 | -1,444 |
| Net change in short-term borrowings | 15 | 48 | - | - |
| Proceeds from issuance of debt | 5,962 | 0 | - | 0 |
| Payments on debt | 1 | 0 | 2,500 | 539 |
| Dividends paid to stockholders | 2,031 | 2,077 | 2,050 | 1,951 |
| Purchases of treasury stock | 1,323 | 1,345 | 1,164 | 489 |
| Proceeds from exercise of stock options | 14 | 12 | 19 | 12 |
| Other | 2 | -194 | -60 | -42 |
| Net cash used in financing activities | 2,638 | -3,556 | -5,755 | -3,009 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 10 | 374 | 156 | -367 |
| Net increase in cash, cash equivalents and restricted cash | 10,187 | -659 | -4,586 | -1,370 |
| Cash and cash equivalents at beginning of period | 8,073 | 8,732 | 13,318 | 14,688 |
| Cash and cash equivalents at end of period | 18,260 | 8,073 | 8,732 | 13,318 |
Merck & Co., Inc. (MRK)
Merck & Co., Inc. (MRK)