Merck KGaA (MRK) — Free Cash Flow Generation Index
Latest as of December 2025:
0.68x
Merck KGaA (MRK) has a Free Cash Flow Generation Index of 0.68x as of December 2025. Free cash flow of €872.00 Million represents 1% of operating cash flow (€1.29 Billion). Explore Merck KGaA capital spending ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
0.68x
Free Cash Flow / Operating CF
Free Cash Flow
€872.00 Million
EUR
Operating Cash Flow
€1.29 Billion
EUR
Capital Expenditures
€419.00 Million
EUR
Merck KGaA Free Cash Flow Generation Index (2002–2025)
Historical FCF Generation Index trend for Merck KGaA across 24 annual periods. For the full cash flow conversion analysis, see MRK operating cash flow.
Annual Free Cash Flow Generation for Merck KGaA (2002–2025)
Year-by-year Free Cash Flow Generation Index for Merck KGaA. Check Merck KGaA total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (EUR) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.60x | €2.35 Billion | €3.93 Billion | €1.58 Billion | ▲ +14.0% |
| 2024 | 0.52x | €2.40 Billion | €4.59 Billion | €2.18 Billion | ▲ +12.5% |
| 2023 | 0.47x | €1.76 Billion | €3.78 Billion | €2.02 Billion | ▼ -19.2% |
| 2022 | 0.58x | €2.45 Billion | €4.26 Billion | €1.81 Billion | ▼ -16.8% |
| 2021 | 0.69x | €3.19 Billion | €4.62 Billion | €1.42 Billion | ▲ +25.7% |
| 2020 | 0.55x | €1.91 Billion | €3.48 Billion | €1.56 Billion | ▼ -14.3% |
| 2019 | 0.64x | €1.83 Billion | €2.86 Billion | €1.02 Billion | ▲ +18.5% |
| 2018 | 0.54x | €1.20 Billion | €2.22 Billion | €1.02 Billion | ▲ +5.5% |
| 2017 | 0.51x | €1.39 Billion | €2.70 Billion | €1.31 Billion | ▼ -22.5% |
| 2016 | 0.66x | €1.67 Billion | €2.52 Billion | €848.00 Million | ▼ -3.1% |
| 2015 | 0.68x | €1.50 Billion | €2.20 Billion | €693.00 Million | ▼ -11.0% |
| 2014 | 0.77x | €2.08 Billion | €2.71 Billion | €624.20 Million | ▲ +0.2% |
| 2013 | 0.77x | €1.71 Billion | €2.23 Billion | €516.60 Million | ▼ -5.0% |
| 2012 | 0.81x | €2.00 Billion | €2.47 Billion | €473.30 Million | ▲ +24.6% |
| 2011 | 0.65x | €825.20 Million | €1.27 Billion | €446.00 Million | ▼ -9.8% |
| 2010 | 0.72x | €1.28 Billion | €1.78 Billion | €500.40 Million | ▲ +22.2% |
| 2009 | 0.59x | €807.40 Million | €1.37 Billion | €563.90 Million | ▲ +23.4% |
| 2008 | 0.48x | €488.40 Million | €1.02 Billion | €535.60 Million | ▼ -28.7% |
| 2007 | 0.67x | €814.40 Million | €1.22 Billion | €403.90 Million | ▲ +8.1% |
| 2006 | 0.62x | €501.90 Million | €811.70 Million | €309.80 Million | ▲ +4.6% |
| 2005 | 0.59x | €433.00 Million | €732.50 Million | €299.50 Million | ▲ +6.9% |
| 2004 | 0.55x | €315.80 Million | €570.90 Million | €255.10 Million | ▼ -6.7% |
| 2003 | 0.59x | €446.00 Million | €752.40 Million | €306.40 Million | ▲ +2425.0% |
| 2002 | 0.02x | €9.90 Million | €421.70 Million | €411.80 Million | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).