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MerckMRK

Pharmaceuticals · Kenilworth, New Jersey · In the S&P 500
Solid business
$149.52+2.18%After hours: $149.65 (+0.09%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 72.7% over 1 year
Merck over 1 yearDaily close, $, to 30 Oct 2026
$80$100$120$140Nov2026MarMayJulSep$149.52$100NovMarJul$149.52
Source: Nasdaq daily closes
Market value$369B
Price to earnings152.5x
Forward P/E18.1x
Dividend yield2.27%
Year to date+42.0%
One year+72.7%
Next earningsNot scheduled
SectorHealth Care
52-week range (closes)
$82.49$156.45

Quality and valuation

How Merck compares with other health care stocks. A description, not a recommendation.

Merck and 4 pharmaceuticals peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: in line with its sector

An average business among health care companies, priced about in line with them.

Merck trades at 18.1 times the next 12 months of expected earnings, against a median of 19.1x for the 65 health care stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +4.6% vs +7.8%
  • Keeps more of each sale (gross margin): 73.0% vs 65.3%
  • Turns more of its sales into cash: 24.1% vs 15.9%
  • Keeps less of its revenue as profit (net margin): 4.8% vs 9.7%
MRK trades at 18.1x forward earnings, below the sector medianForward p/e, Pharmaceuticals peers
BMY10.5xPFE11.1xNVO12.2xNVS17.0xAZN17.5xMRK18.1xJNJ25.1xLLY36.3xSector median 19.1xBMY10.5xPFE11.1xNVO12.2xNVS17.0xAZN17.5xMRK18.1xJNJ25.1xLLY36.3xSector median 19.1x
Source: CNBC quotes; Mostly Markets
At 119.6x earnings, MRK is pricier than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
0x50x100xAverage 29.0x20252026119.6x0x50x100xAverage 29.0x20252026119.6x
Source: Nasdaq prices; SEC filings

Financials

From Merck's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 5.1% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$5bn$10bn$15bnQ3 ’24Q1 ’25Q3 ’25$16.6bnQ2 ’26$0bn$10bnQ3 ’24Q1 ’25Q3 ’25$16.6bnQ2 ’26
Source: SEC filings
Growth sped up to +5.1% last quarterRevenue growth, year on year, %
0%2%5%Q3 ’24Q1 ’25Q3 ’255.1%Q2 ’260%5%Q3 ’24Q1 ’25Q3 ’255.1%Q2 ’26
Source: SEC filings
Free cash flow was $16.1 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0bn$2bn$5bn$8bnQ3 ’24Q1 ’25Q3 ’25$4.5bnQ2 ’26$0bn$5bnQ3 ’24Q1 ’25Q3 ’25$4.5bnQ2 ’26
Source: SEC filings
Diluted EPS was $-0.54 last quarterQuarterly diluted earnings per share, $
$0$2Q3 ’24Q1 ’25Q3 ’25−$0.54Q2 ’26$0$2Q3 ’24Q1 ’25Q3 ’25−$0.54Q2 ’26
Source: SEC filings
Last 12 monthsMRKSector median
Revenue growth+4.6%+7.8%
Gross margin73.0%65.3%
Free cash flow margin24.1%15.9%
Price to earnings152.5x30.2x

Stories on Merck

Thursday, 29 October
Earnings

Merck (MRK) Tops Q3 Estimates as Keytruda and Gardasil Outperform

Merck's sales rose 5% to $18.09 billion, ahead of the $17.31 billion expected, and it raised its 2026 profit forecast. The stock rose 3.8% on Thursday.

MRK▲ 3.8%
Injection pens on a pharmacy counter
Thursday, 22 October
Why it moved

Why Moderna (MRNA) Stock Is Sinking Today

Moderna plunged 17.6% on Thursday after Phase 3 results for its melanoma vaccine with Merck appeared online two days early, showing a 42% cut in the risk of relapse or death.

MRNA▼ 17.6%
A scientist at a microscope

Similar companies

Pharmaceuticals, by market value.

CompanyPriceTodayYTDValue
LLYEli Lilly$1,417.54+3.19%+31.9%$1.33T
JNJJohnson & Johnson$273.20−0.73%+32.0%$658B
NVSNovartis$160.79−0.19%+16.6%$327B
AZNAstraZeneca$186.65+7.02%+6.4%$290B
PFEPfizer$30.52+1.90%+22.6%$174B
NVONovo Nordisk$40.00+2.20%−21.4%$136B
BMYBristol Myers Squibb$62.48+1.78%+15.8%$128B
ZTSZoetis$79.72+1.85%−36.6%$32.94B