Merck (MRK) Capital Expenditures (2009 - 2025)
Merck (MRK) recorded Capital Expenditures of $893 million in Q2 2026, up 16.9% from $764 million a year earlier but down 9.9% from the prior quarter.
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Analysis
Merck (MRK) Capital Expenditures (2009 - 2025) Analysis & Trends
On a TTM basis, Merck's Capital Expenditures came in at $3.9 billion as of Jun 30, 2026, up 2.4% year-over-year; for FY2025, it came in at $4.11 billion, up 21.9% from FY2024.
- Annual Capital Expenditures has a five-year compound annual growth rate of -1.5% (FY2020 to FY2025).
- Across earlier years, Capital Expenditures came in at $3.37 billion in FY2024 (-12.7%), $3.86 billion in FY2023 (-12.0%), $4.39 billion in FY2022 (-1.3%) and $4.45 billion in FY2021 (+0.4%).
- Quarterly Capital Expenditures has ranged from $764 million in Q2 2025 to $1.33 billion in Q1 2025 over the past five years.
- On a year-over-year basis, Capital Expenditures rose in four of the last eight quarters, with growth averaging 7.5%.
- Peak year-over-year performance for Capital Expenditures in the last five years was growth of 54.2% in Q1 2025, against a decline of 25.4% in Q1 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at $991 million (Q1 2026), $1.03 billion (Q4 2025) and $987 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Yr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,348.13 Bn | 1,321.74 Bn | 20.46 Bn | 7.84 Bn |
| 2 | Johnson & Johnson | 675.90 Bn | 595.76 Bn | 17.30 Bn | 4.83 Bn |
| 3 | AbbVie | 519.45 Bn | 487.50 Bn | 13.12 Bn | 1.21 Bn |
| 4 | Merck | 364.95 Bn | 327.95 Bn | 13.19 Bn | 4.11 Bn |
| 5 | Novartis Ag | 311.58 Bn | 285.16 Bn | - | 1.55 Bn |
| 6 | Astrazeneca | 289.34 Bn | 262.94 Bn | 13.26 Bn | 2.81 Bn |
| 7 | Amgen | 251.64 Bn | 203.30 Bn | 7.58 Bn | 1.86 Bn |
| 8 | Gilead Sciences | 212.05 Bn | 187.07 Bn | 6.73 Bn | 563.00 Mn |
| 9 | Pfizer | 167.35 Bn | 115.00 Bn | 12.56 Bn | 2.63 Bn |
| 10 | Vertex Pharmaceuticals | 138.90 Bn | 106.64 Bn | 2.91 Bn | 437.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 4.11 Bn |
| Dec 31, 2024 | 3.37 Bn |
| Dec 31, 2023 | 3.86 Bn |
| Dec 31, 2022 | 4.39 Bn |
| Dec 31, 2021 | 4.45 Bn |
| Dec 31, 2020 | 4.43 Bn |
| Dec 31, 2019 | 3.37 Bn |
| Dec 31, 2018 | 2.62 Bn |
| Dec 31, 2017 | 1.89 Bn |
| Dec 31, 2016 | 1.61 Bn |
| Dec 31, 2015 | 1.28 Bn |
| Dec 31, 2014 | 1.32 Bn |
| Dec 31, 2013 | 1.55 Bn |
| Dec 31, 2012 | 1.95 Bn |
| Dec 31, 2011 | 1.72 Bn |
| Dec 31, 2010 | 1.68 Bn |
| Dec 31, 2009 | 1.46 Bn |
API Access
Merck Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures-annual&ticker=MRK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures-annual", "ticker": "MRK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures-annual&ticker=MRK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();