Merck KGaA (MRK) — Capital Reinvestment Ratio
Merck KGaA (MRK) has a Capital Reinvestment Ratio of 0.32x as of December 2025, meaning it reinvests 0% of its operating cash flow (€1.29 Billion) in capital expenditures (€419.00 Million). Check Merck KGaA tangible equity quality to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Merck KGaA Capital Reinvestment Ratio (2002–2025)
This chart tracks Merck KGaA's Capital Reinvestment Ratio across 24 annual periods. For the full cash flow conversion analysis, see cash efficiency ratio of Merck KGaA.
Annual Capital Reinvestment Ratio for Merck KGaA (2002–2025)
Year-by-year Capital Reinvestment Ratio for Merck KGaA from 2002 to 2025. See MRK free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (EUR) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.40x | €3.93 Billion | €1.58 Billion | ▼ -15.4% |
| 2024 | 0.48x | €4.59 Billion | €2.18 Billion | ▼ -10.9% |
| 2023 | 0.53x | €3.78 Billion | €2.02 Billion | ▲ +26.1% |
| 2022 | 0.42x | €4.26 Billion | €1.81 Billion | ▲ +37.7% |
| 2021 | 0.31x | €4.62 Billion | €1.42 Billion | ▼ -31.5% |
| 2020 | 0.45x | €3.48 Billion | €1.56 Billion | ▲ +25.7% |
| 2019 | 0.36x | €2.86 Billion | €1.02 Billion | ▼ -21.9% |
| 2018 | 0.46x | €2.22 Billion | €1.02 Billion | ▼ -5.8% |
| 2017 | 0.49x | €2.70 Billion | €1.31 Billion | ▲ +44.4% |
| 2016 | 0.34x | €2.52 Billion | €848.00 Million | ▲ +6.7% |
| 2015 | 0.32x | €2.20 Billion | €693.00 Million | ▲ +36.8% |
| 2014 | 0.23x | €2.71 Billion | €624.20 Million | ▼ -0.6% |
| 2013 | 0.23x | €2.23 Billion | €516.60 Million | ▲ +21.2% |
| 2012 | 0.19x | €2.47 Billion | €473.30 Million | ▼ -45.4% |
| 2011 | 0.35x | €1.27 Billion | €446.00 Million | ▲ +25.0% |
| 2010 | 0.28x | €1.78 Billion | €500.40 Million | ▼ -31.7% |
| 2009 | 0.41x | €1.37 Billion | €563.90 Million | ▼ -21.4% |
| 2008 | 0.52x | €1.02 Billion | €535.60 Million | ▲ +57.8% |
| 2007 | 0.33x | €1.22 Billion | €403.90 Million | ▼ -13.1% |
| 2006 | 0.38x | €811.70 Million | €309.80 Million | ▼ -6.7% |
| 2005 | 0.41x | €732.50 Million | €299.50 Million | ▼ -8.5% |
| 2004 | 0.45x | €570.90 Million | €255.10 Million | ▲ +9.7% |
| 2003 | 0.41x | €752.40 Million | €306.40 Million | ▼ -58.3% |
| 2002 | 0.98x | €421.70 Million | €411.80 Million | — |