Cash flow Merck KGaA

Equities

MRK

DE0006599905

Pharmaceuticals

Market Closed - Xetra Other stock markets 11:35:12 2024-09-12 EDT			5-day change	1st Jan Change
168.55 ^EUR	-0.74%		-0.82%	+16.97%

09-09	German Shares Cheer Likelihood of September ECB Rate Cut	MT
09-03	Merck Gets EU Approval for Keytruda Cancer Therapy	DJ

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Published financial data: MERCK KGAA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	16.15B	17.53B	19.69B	22.23B	20.99B
Total Revenues	16.15B	17.53B	19.69B	22.23B	20.99B
Cost of Goods Sold, Total	5.95B	6.78B	7.32B	8.5B	8.56B
Gross Profit	10.2B	10.75B	12.36B	13.74B	12.44B
Selling General & Admin Expenses, Total	5.68B	5.3B	5.47B	5.91B	5.78B
Stock-Based Compensation (IS)	-14M	5M	3M	-7M	2M
R&D Expenses	2.24B	2.26B	2.4B	2.45B	2.44B
Other Operating Expenses	-268M	117M	133M	372M	515M
Other Operating Expenses, Total	7.64B	7.68B	8.01B	8.72B	8.74B
Operating Income	2.56B	3.07B	4.35B	5.01B	3.7B
Interest Expense, Total	-403M	-328M	-244M	-196M	-260M
Interest And Investment Income	66M	39M	46M	71M	172M
Net Interest Expenses	-337M	-289M	-198M	-125M	-88M
Currency Exchange Gains (Loss)	-86M	-60M	-40M	-109M	51M
Other Non Operating Income (Expenses)	-1M	2M	14M	-3M	26M
EBT, Excl. Unusual Items	2.14B	2.73B	4.13B	4.78B	3.68B
Restructuring Charges	-123M	-170M	-82M	-199M	-248M
Merger & Related Restructuring Charges	-217M	-190M	-119M	-83M	-
Gain (Loss) On Sale Of Investments	-8M	-	-	-	-
Gain (Loss) On Sale Of Assets	30M	92M	63M	54M	132M
Asset Writedown	-42M	-183M	-54M	-232M	-98M
Legal Settlements	-42M	372M	8M	-6M	-1M
Other Unusual Items	0	-16M	-21M	-23M	15M
EBT, Incl. Unusual Items	1.74B	2.63B	3.92B	4.29B	3.48B
Income Tax Expense	440M	637M	859M	948M	650M
Earnings From Continuing Operations	1.3B	1.99B	3.06B	3.34B	2.83B
Earnings Of Discontinued Operations	28M	-	-	-	-
Net Income to Company	1.32B	1.99B	3.06B	3.34B	2.83B
Minority Interest	-3M	-7M	-10M	-14M	-10M
Net Income - (IS)	1.32B	1.99B	3.06B	3.33B	2.82B
Net Income to Common Incl Extra Items	1.32B	1.99B	3.06B	3.33B	2.82B
Net Income to Common Excl. Extra Items	1.29B	1.99B	3.06B	3.33B	2.82B
Per Share Items
Net EPS - Basic	3.04	4.57	7.03	7.65	6.5
Basic EPS - Continuing Operations	2.97	4.57	7.03	7.65	6.5
Basic Weighted Average Shares Outstanding	435M	435M	435M	435M	435M
Net EPS - Diluted	3.03	4.57	7.03	7.65	6.49
Diluted EPS - Continuing Operations	2.97	4.57	7.03	7.65	6.49
Diluted Weighted Average Shares Outstanding	435M	435M	435M	435M	435M
Normalized Basic EPS	3.07	3.9	5.91	6.83	5.27
Normalized Diluted EPS	3.07	3.9	5.91	6.83	5.27
Dividend Per Share	1.3	1.4	1.85	2.2	2.2
Payout Ratio	51.29	34.22	24.48	28.71	40.79
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	4.24B	4.59B	5.83B	6.56B	5.23B
EBITA	3.68B	3.93B	5.16B	5.84B	4.48B
EBIT	2.56B	3.07B	4.35B	5.01B	3.7B
EBITDAR	4.27B	4.61B	5.85B	6.57B	5.24B
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	25.36	24.21	21.89	22.11	18.66
Total Current Taxes	834M	959M	1.08B	1.34B	1.14B
Total Deferred Taxes	-453M	-333M	-174M	-369M	-323M
Normalized Net Income	1.33B	1.7B	2.57B	2.97B	2.29B
Interest Capitalized	13M	8M	11M	17M	22M
Interest on Long-Term Debt	14M	15M	10M	13M	14M
Non-Cash Pension Expense	58M	45M	28M	44M	59M
Supplemental Operating Expense Items
Advertising Expense	521M	413M	461M	476M	515M
Selling and Marketing Expenses	4.57B	4.15B	4.29B	4.68B	4.47B
General and Administrative Expenses	1.04B	1.09B	1.16B	1.19B	1.26B
Research And Development Expense From Footnotes	2.27B	2.29B	2.41B	2.52B	2.44B
Net Rental Expense, Total	22M	18M	18M	14M	11M
Imputed Operating Lease Interest Expense	6.63M	3.82M	3.2M	2.25M	2.44M
Imputed Operating Lease Depreciation	15.37M	14.18M	14.8M	11.75M	8.56M
Stock-Based Comp., Other (Total)	-6.94M	22.51M	3M	-7M	2M
Total Stock-Based Compensation	-6.94M	22.51M	3M	-7M	2M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	781M	1.36B	1.9B	1.85B	1.98B
Short Term Investments	29M	1M	100M	203M	398M
Trading Asset Securities, Total	-	12M	12M	42M	33M
Total Cash And Short Term Investments	810M	1.37B	2.01B	2.1B	2.41B
Accounts Receivable, Total	3.31B	3.2B	3.72B	4.13B	3.98B
Other Receivables	1.27B	1.08B	1.05B	900M	928M
Notes Receivable	1M	-	-	-	1M
Total Receivables	4.57B	4.28B	4.77B	5.03B	4.9B
Inventory	3.34B	3.29B	3.9B	4.63B	4.64B
Prepaid Expenses	153M	151M	142M	210M	182M
Other Current Assets, Total	125M	189M	157M	226M	256M
Total Current Assets	9B	9.28B	10.98B	12.2B	12.39B
Gross Property Plant And Equipment	12.56B	13.23B	14.81B	16.51B	17.94B
Accumulated Depreciation	-6.35B	-6.81B	-7.59B	-8.31B	-8.89B
Net Property Plant And Equipment	6.21B	6.42B	7.22B	8.2B	9.06B
Long-term Investments	458M	539M	615M	675M	808M
Goodwill	17.14B	15.96B	17B	18.42B	17.84B
Other Intangibles, Total	9.18B	7.65B	7.61B	7.3B	6.55B
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	8M	7M	4M	4M	4M
Deferred Tax Assets Long-Term	1.42B	1.54B	1.5B	1.31B	1.51B
Other Long-Term Assets, Total	391M	394M	426M	416M	324M
Total Assets	43.81B	41.8B	45.36B	48.53B	48.5B
Liabilities
Accounts Payable, Total	2.05B	1.1B	1.54B	1.6B	1.77B
Accrued Expenses, Total	1.17B	1.28B	1.56B	1.53B	1.49B
Short-term Borrowings	1.01B	1.02B	896M	259M	206M
Current Portion of Long-Term Debt	3.43B	1.23B	1.52B	844M	374M
Current Portion of Leases	109M	112M	117M	125M	122M
Current Income Taxes Payable	1.4B	1.46B	1.42B	1.48B	1.43B
Unearned Revenue Current, Total	291M	304M	198M	282M	249M
Other Current Liabilities	2.37B	2.74B	3.18B	3.4B	3.06B
Total Current Liabilities	11.84B	9.23B	10.43B	9.51B	8.7B
Long-Term Debt	8.19B	9.46B	7.93B	8.83B	8.85B
Long-Term Leases	458M	327M	342M	366M	393M
Unearned Revenue Non Current	87M	47M	3M	3M	3M
Pension & Other Post Retirement Benefits	3.19B	3.88B	3.4B	2.03B	2.19B
Deferred Tax Liability Non Current	1.83B	1.44B	1.41B	1.28B	1.13B
Other Non Current Liabilities	303M	395M	428M	496M	477M
Total Liabilities	25.9B	24.78B	23.95B	22.52B	21.74B
Common Stock, Total	565M	565M	565M	565M	565M
Additional Paid In Capital	3.81B	3.81B	3.81B	3.81B	3.81B
Retained Earnings	13.16B	14.45B	16.61B	18.81B	20.63B
Comprehensive Income and Other	329M	-1.88B	349M	2.74B	1.67B
Total Common Equity	17.86B	16.95B	21.34B	25.93B	26.68B
Minority Interest	48M	71M	78M	78M	75M
Total Equity	17.91B	17.02B	21.42B	26B	26.76B
Total Liabilities And Equity	43.81B	41.8B	45.36B	48.53B	48.5B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	435M	435M	435M	435M	435M
ECS Total Common Shares Outstanding	435M	435M	435M	435M	435M
Book Value / Share	41.09	38.98	49.08	59.63	61.36
Tangible Book Value	-8.45B	-6.67B	-3.28B	210M	2.28B
Tangible Book Value Per Share	-19.44	-15.33	-7.54	0.48	5.25
Total Debt	13.19B	12.14B	10.8B	10.43B	9.94B
Net Debt	12.38B	10.77B	8.79B	8.33B	7.53B
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.92B	3.56B	2.97B	1.63B	1.92B
Debt Equivalent Oper. Leases	176M	144M	144M	112M	88M
Minority Interest, Total (Incl. Fin. Div)	48M	71M	78M	78M	75M
Equity Method Investments, Total	-	2M	3M	3M	3M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	622M	633M	814M	1.08B	1.16B
Inventories - Work In Process, Total	943M	905M	990M	1.42B	1.43B
Inventories - Finished Goods, Total	1.78B	1.76B	2.1B	2.14B	2.04B
Land - (BS)	4.82B	4.97B	5.46B	5.98B	6.33B
Machinery, Total	4.91B	5.25B	5.69B	6.23B	6.63B
Full Time Employees	57.07K	55.22K	60.33K	64.23K	62.91K
Part Time Employees	-	2.91K	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	77M	73M	59M	63M	97M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.32B	1.99B	3.06B	3.33B	2.82B
Depreciation & Amortization - CF	707M	815M	814M	866M	895M
Amortization of Goodwill and Intangible Assets - (CF)	1.12B	858M	803M	830M	783M
Depreciation & Amortization, Total	1.83B	1.67B	1.62B	1.7B	1.68B
Amortization of Deferred Charges, Total - (CF)	75M	82M	90M	102M	104M
(Gain) Loss From Sale Of Asset	-57M	-98M	-24M	-48M	-150M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-
Asset Writedown & Restructuring Costs	42M	183M	55M	232M	98M
Other Operating Activities, Total	57M	45M	97M	33M	-63M
Change In Accounts Receivable	-47M	-84M	-310M	-413M	-8M
Change In Inventories	-324M	-85M	-472M	-604M	-89M
Change In Accounts Payable	201M	7M	433M	101M	-43M
Change in Other Net Operating Assets	-238M	-233M	75M	-166M	-567M
Cash from Operations	2.86B	3.48B	4.62B	4.26B	3.78B
Capital Expenditure	-813M	-1.41B	-1.07B	-1.53B	-1.81B
Sale of Property, Plant, and Equipment	51M	90M	7M	21M	19M
Cash Acquisitions	-5.02B	-11M	-4M	-854M	-12M
Divestitures	-	-8M	1M	4M	-
Sale (Purchase) of Intangible assets	-185M	-62M	-316M	-237M	-80M
Investment in Marketable and Equity Securities, Total	-56M	62M	-200M	-145M	-27M
Other Investing Activities, Total	-130M	2M	-	-1M	15M
Cash from Investing	-6.15B	-1.34B	-1.58B	-2.74B	-1.89B
Short Term Debt Issued, Total	406M	390M	471M	-	-
Long-Term Debt Issued, Total	4.68B	6.05B	388M	3.91B	1.22B
Total Debt Issued	5.08B	6.44B	859M	3.91B	1.22B
Short Term Debt Repaid, Total	-418M	-382M	-393M	-1.61B	-420M
Long-Term Debt Repaid, Total	-2.07B	-6.89B	-2.21B	-2.89B	-1.36B
Total Debt Repaid	-2.49B	-7.27B	-2.61B	-4.5B	-1.78B
Common Dividends Paid	-677M	-680M	-748M	-955M	-1.15B
Common & Preferred Stock Dividends Paid	-677M	-680M	-748M	-955M	-1.15B
Other Financing Activities, Total	-12M	-7M	-9M	-12M	-12M
Cash from Financing	1.9B	-1.52B	-2.5B	-1.56B	-1.73B
Foreign Exchange Rate Adjustments	5M	-40M	9M	-7M	-31M
Miscellaneous Cash Flow Adjustments	-	-	-	1M	-1M
Net Change in Cash	-1.39B	575M	543M	-45M	128M
Supplemental Items
Cash Interest Paid	316M	340M	216M	185M	181M
Cash Income Tax Paid (Refund)	858M	866M	1.04B	1.2B	1.02B
Levered Free Cash Flow	2.1B	1.88B	2.86B	2.29B	1.88B
Unlevered Free Cash Flow	2.35B	2.09B	3.02B	2.41B	2.04B
Change In Net Working Capital	146M	137M	32M	747M	167M
Net Debt Issued / Repaid	2.59B	-835M	-1.75B	-588M	-568M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.97	4.49	6.24	6.68	4.76
Return on Total Capital	5.59	6.37	8.87	9.13	6.32
Return On Equity %	7.37	11.42	15.95	14.09	10.74
Return on Common Equity	7.37	11.42	15.96	14.07	10.74
Margin Analysis
Gross Profit Margin %	63.16	61.32	62.79	61.79	59.23
SG&A Margin	35.18	30.2	27.8	26.59	27.55
EBITDA Margin %	26.28	26.19	29.61	29.5	24.89
EBITA Margin %