Stock · MRK · Healthcare
United States · Large Cap · listed since 1978 · Revenue 12 mo. $66.4B
Price as of 11/06/2026
Summary
60.8 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €11.1B (2025), it supports €123.2B. The remaining €204.2B of the market value assume it grows 13.6% a year for 10 years and not at all afterwards.
Required FCF growth per year
13.6%
no growth afterwards
Price to operating cash flow 18.2×, above its usual range.
Middle half of 20 quarters: 12.2× to 16.8×, median 15.0×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
No indication in the stored figures.
with respect to the priced-in expectation
AI summary of the 2025 annual report
A language model selected and condensed statements from the report. Each statement carries a verbatim quote. The selection is not complete and shows the state of the report. It gives no rating and does not feed into the score.
Form 10-K, fiscal year ended 12/31/2025, filed 02/24/2026. Open the report at the SEC
| Segment | Share | Revenue |
|---|---|---|
| Pharmaceutical | 90.1% | $58.1B |
| Animal Health | 9.9% | $6.4B |
From the report's structured data (XBRL), not from the language model. The sum can differ slightly from group revenue.
The Pharmaceutical segment covers human medicines and human vaccines.
The Pharmaceutical segment includes human health pharmaceutical and vaccine products.Human health medicines are treatment and prevention drugs for human disorders, generally sold by prescription.
Human health pharmaceutical products consist of therapeutic and preventive agents, generally sold by prescription, for the treatment of human disorders.The Animal Health segment makes and sells veterinary medicines and vaccines, plus health management services, for disease control in livestock and companion animals.
The Animal Health segment discovers, develops, manufactures and markets a wide range of veterinary pharmaceutical and vaccine products, as well as health management solutions and services, for the prevention, treatment and control of disease in all major livestock and companion animal species.Keytruda is a therapy given intravenously.
Keytruda (pembrolizumab) is an anti-PD-1 (programmed death receptor-1) therapy available for intravenous administrationHuman health medicines are sold mainly to drug wholesalers and retailers, hospitals, government agencies and managed health care providers.
The Company sells these human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies, and managed health care providers such as health maintenance organizations, pharmacy benefit managers and other institutions.Human health vaccines are sold mainly to doctors, wholesalers, distributors and government bodies.
Human health vaccines are sold primarily to physicians, wholesalers, distributors and government entities.Animal health products are sold to vets, distributors, animal producers, farmers and pet owners.
The Company sells its animal health products to veterinarians, distributors, animal producers, farmers and pet owners.Competitors include other research-based drug companies, smaller research firms with a narrower therapy focus, generic drug makers and animal health companies.
The Company’s competitors include other worldwide research-based pharmaceutical companies, smaller research companies with more limited therapeutic focus, generic drug manufacturers, and animal health care companies.Animal health competition depends on factors such as regulation, technological advances, product innovation, and the quality and price of products.
The highly competitive animal health business is affected by several factors including regulatory and legislative issues, scientific and technological advances, product innovation, the quality and price of the Company’s products as well as competitors’ productsPharmaceutical competition involves searching for technological innovations and marketing them effectively.
Pharmaceutical competition involves a rigorous search for technological innovations and the ability to market these innovations effectively.The company expects Keytruda sales to be materially hurt by biosimilar competition between 2028 and 2029.
the Company expects that sales of Keytruda will be materially negatively impacted by biosimilar competition between 2028 and 2029.In 2025, Keytruda sales made up 49% of the company's total sales.
In particular, in the aggregate, in 2025, sales of Keytruda represented 49% of the Company’s total sales.Bravecto family sales were 1.1 billion dollars in 2025, which was 18% of Animal Health segment sales.
In addition, in 2025, sales of the Bravecto family of products were $1.1 billion, which represented 18% of the Company’s Animal Health segment sales.Gardasil/Gardasil 9 sales in China fell significantly in 2025, and the company does not expect a material increase in 2026.
The Company’s business in China experienced significantly lower sales of Gardasil/Gardasil 9 in 2025 and the Company expects that sales of Gardasil/Gardasil 9 in China will not materially increase in 2026.Bridion is set to lose US market exclusivity in July 2026, and the company expects a significant and rapid sales decline there.
Bridion will lose market exclusivity in the U.S. in July 2026 at which time the Company anticipates a significant and rapid decline in U.S. sales of Bridion.Since the last quarter
Q1 → Q2 2026
4 more unchanged: Revenue, 12 mo., Gross margin, Net debt, Shares outstanding
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 34.70% | 11.52% | Rank 88 |
| Return on capital (Greenblatt) | 55.90% | 32.55% | Rank 74 |
| EBIT margin | 36.17% | 18.31% | Rank 92 |
| FCF margin | 19.04% | 14.12% | Rank 67 |
| Gross margin | 71.98% | 60.99% | Rank 73 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 1.18% | 8.04% | Rank 16 |
| Earnings growth, 3 years per year | 8.43% | 5.44% | Rank 56 |
| Earnings growth, 5 years per year | 21.23% | 7.00% | Rank 85 |
| Sustainable growth (ROE × retained earnings) | 6.33% | 3.66% | Rank 78 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 4.96% | 2.90% | Rank 80 |
| FCF yield | 3.39% | 3.63% | Rank 44 |
| EV/saleslower is better | 6.17 | 4.03 | Rank 33 |
| EV/EBITlower is better | 17.07 | 21.73 | Rank 71 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 61.45% | 8.66% | Rank 92 |
| Share price, 6 months | 32.22% | 24.27% | Rank 70 |
| Share price, 3 months | 19.25% | 15.42% | Rank 63 |
| Distance from 52-week high | −6.21% | −7.35% | Rank 54 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 12.22% | 0.30% | Rank 9 |
| Change in share countlower is better | −1.34% | 0.00% | Rank 72 |
| Dividend streak in years | 21 | 10 | Rank 86 |
| Price reaction to results, market-adjusted | 3.88% | 0.05% | Rank 80 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 38.44% | 48.40% | Rank 28 |
| Net debt/EBITDAlower is better | 1.27 | 1.11 | Rank 45 |
| Debt to equitylower is better | 0.96 | 0.48 | Rank 23 |
| Volatility, 1 yearlower is better | 30.13% | 31.42% | Rank 60 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF, $B | Shares | Net debt, $B |
|---|---|---|---|---|---|
| 2016 | 39.8 | 13.8% | 8.8 | 2.79B | 18.3 |
| 2017 | 40.1 | 16.9% | 4.6 | 2.75B | 18.3 |
| 2018 | 42.3 | 21.1% | 8.3 | 2.68B | 17.1 |
| 2019 | 39.1 | 20.3% | 10.0 | 2.58B | 17.7 |
| 2020 | 41.5 | 13.4% | 5.6 | 2.54B | 25.4 |
| 2021 | 48.7 | 27.1% | 9.7 | 2.54B | 26.5 |
| 2022 | 59.3 | 30.8% | 14.7 | 2.54B | 19.3 |
| 2023 | 60.1 | 4.9% | 9.1 | 2.55B | 29.4 |
| 2024 | 64.2 | 31.5% | 18.1 | 2.54B | 25.0 |
| 2025 | 64.9 | 36.2% | 12.4 | 2.51B | 36.0 |
4 of 7 StockScorer Score rules met · How the score is built
Merck & Company Inc mainly meets criteria in the Profitability category. Result from 18 strategies checked.
Merck & Company Inc is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
4 of 7 rules met
6 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
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Selected fundamental metrics for Merck & Company Inc.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 20.2 | 30.0 |
| P/B ratio | 7.0 | 4.8 |
| Return on equity (ROE) | 34.7% | 11.5% |
| Equity ratio | 38.4% | 48.4% |
| Debt-to-equity (D/E) | 0.96 | 0.48 |
| Dividend yield | 2.3% | 1.3% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| MRK | Merck & Company Incthis page | |
| AMGN | Amgen Inc | Medium5.5 |
| GILD | Gilead Sciences Inc | High8.2 |
| ABBV | AbbVie Inc | Medium5.5 |
| PFE | Pfizer Inc | locked |
| BMY | Bristol-Myers Squibb Company | locked |
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