Stocktoria

Merck & Co., Inc. MRK

NYSE · stock · Pharmaceutical Preparations · website · IPO 1941-01-01 · LEI

Merck & Co., Inc. statistics & valuation

Market cap$317.8B
P / E17.4×
P / S4.9×
P / B6.0×
P / FCF25.7×
Dividend yield2.57%
Net margin28.1%
Return on equity34.7%
FCF margin19.0%
Net debt$32.2B
Enterprise value USD$350.0B
Graham number -55.9%$58.66

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($58.66); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
9.80% 6.00% 14.70% 25.20% 17.00% 26.80% 24.50% 0.60% 26.70% 28.10% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
9.70% 6.90% 23.10% 37.90% 27.80% 34.10% 31.50% 1.00% 36.90% 34.70% 2016201720182019202020212022202320242025
Shares outstanding
2.79B 2.75B 2.68B 2.58B 2.54B 2.54B 2.54B 2.55B 2.54B 2.51B 2016201720182019202020212022202320242025
Net debt ($)
$17.76B $15.26B $11.84B $13.06B $17.31B $22.59B $16.05B $26.84B $21.22B $32.19B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
4.10% 2.70% 7.50% 11.70% 7.70% 12.30% 13.30% 0.30% 14.60% 13.30% 2016201720182019202020212022202320242025
Free cash flow margin (%)
17.80% 24.80% 15.20% 28.20% 19.00% 2016201720182019202020212022202320242025
Debt / equity (×)
0.60× 0.62× 0.74× 0.87× 1.00× 0.80× 0.62× 0.89× 0.74× 0.89× 2016201720182019202020212022202320242025
EPS ($)
$1.41 $0.87 $2.32 $3.81 $2.78 $5.14 $5.71 $0.14 $6.74 $7.28 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Merck & Co., Inc. trades at about 18.3× earnings — below its 10-year norm (10-year range 14.7×–862.7×, median 26.5×).

14.7× 862.7×

Shaded band = 10-year range (14.7×–862.7×); dot = today's 18.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin28.1%26.7%0.6%24.5%26.8%17.0%25.2%14.7%6.0%9.8%
FCF margin19.0%28.2%15.2%24.8%17.8%—————
Return on assets13.3%14.6%0.3%13.3%12.3%7.7%11.7%7.5%2.7%4.1%
Return on equity34.7%36.9%1.0%31.5%34.1%27.8%37.9%23.1%6.9%9.7%
Debt / equity0.89×0.74×0.89×0.62×0.80×1.00×0.87×0.74×0.62×0.60×
Current ratio1.541.361.251.471.271.021.241.171.331.78

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.