Superworth

Merck price to free cash flow MRK

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026
22.3×
10-year median
22.8×
Against its 10-year history
46th
percentile: 0 is its lowest day, 100 its highest
10-year range
10.9× to 51.7×
Peer median
15.6×

Merck's price to free cash flow is 22.3× as of Oct 23, 2026.

That is below its ten-year median of 22.8×, close to the middle of its last ten years.

Over that time it ranged from 10.9× in Apr 2025 to 51.7× in Oct 2021.

The median for 8 large drugmakers of a similar size is 15.6×.

Price to free cash flow over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far22.3×19.5×24.8×
202520.3×10.9×20.3×
202417.0×16.4×36.6×
202321.0×17.0×26.5×
202218.4×15.1×28.2×
202126.6×25.2×51.7×
202029.3×17.3×29.7×
201924.8×20.2×26.9×
201820.9×20.2×37.1×
201733.7×16.8×33.7×
201616.4×12.4×23.9×
201524.6×14.4×25.4×
201414.6×14.3×18.3×
201316.2×12.3×17.6×
201212.2×9.7×13.4×
201110.0×8.8×13.8×
201013.3×12.8×13.5×

Against its peers

Companies in Drug Manufacturers - General nearest Merck's size, closest first, today.

CompanyPrice to free cash flow
MRKMerck22.3×
ABBVAbbVie27.7×
AMGNAmgen23.3×
JNJJohnson & Johnsonn/m
GILDGilead Sciences14.9×
PFEPfizer15.6×
BMYBristol-Myers Squibb11.0×
LLYEli Lilly and65.9×
BIIBBiogen13.7×
Peer median15.6×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Merck

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.