(MRK) Merck KGaA - Ratings and Ratios
Reagents, Drugs, Pigments, Semiconductors, Equipment
EPS (Earnings per Share)
Revenue
| Risk via 10d forecast | |
|---|---|
| Volatility | 29.4% |
| Value at Risk 5%th | 44.5% |
| Relative Tail Risk | -8.10% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.73 |
| Alpha | -23.67 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.390 |
| Beta | 0.103 |
| Beta Downside | 0.176 |
| Drawdowns 3y | |
|---|---|
| Max DD | 45.49% |
| Mean DD | 24.43% |
| Median DD | 22.53% |
Description: MRK Merck KGaA September 29, 2025
Merck KGaA (XETRA: MRK) is a Germany-based science and technology group organized into three core divisions – Life Science, Healthcare, and Electronics – each serving distinct customer bases from academic labs to pharmaceutical manufacturers and semiconductor producers.
The Life Science division supplies a broad portfolio of laboratory tools, chemicals, and equipment, and it adds value through process-development services such as continuous bioprocessing. In FY 2023 the segment generated roughly €7.2 billion in revenue, growing about 8 % year-on-year, propelled by rising demand for outsourced biotech manufacturing and environmental-testing solutions.
The Healthcare segment develops and markets prescription drugs and biopharmaceuticals across oncology, neurology, immunology, fertility, endocrinology, cardiovascular, diabetes, thyroid disorders, and multiple sclerosis. Notable products include the anti-EGFR antibody Erbitux and the fertility drug Gonal-F. FY 2023 sales reached €10.5 billion, with R&D spending at €4.5 billion (≈18 % of total revenue), reflecting the company’s heavy investment in pipeline diversification.
Merck KGaA’s Electronics business provides high-performance materials for semiconductors, displays, and surface-design applications, including effect pigments and functional coatings. This unit posted €6.6 billion in FY 2023 revenue, benefitting from the 9 % CAGR growth in the global semiconductor materials market driven by advanced packaging and AI-focused chip designs.
Strategically, the group has entered multiple in-licensing and collaboration agreements: with Debiopharm for head-and-neck cancer candidates, with Jiangsu Hengrui for metastatic colorectal cancer therapies, and with Abbisko Therapeutics for tenosynovial giant-cell-tumor drugs and targeted protein degraders. These partnerships aim to accelerate access to niche oncology assets and expand the company’s pipeline breadth.
Founded in 1668 and headquartered in Darmstadt, Merck KGaA operates as a subsidiary of E. Merck KG. The company trades under the ticker “MRK” and is classified in the GICS sub-industry “Pharmaceuticals.”
For a deeper quantitative assessment of Merck KGaA’s valuation dynamics, you may explore the analytical dashboards available on ValueRay.
MRK Stock Overview
| Market Cap in USD | 59,326m |
| Sub-Industry | Pharmaceuticals |
| IPO / Inception | |
| Return 12m vs S&P 500 | -28.5% |
| Analyst Rating | - |
MRK Dividends
| Metric | Value |
|---|---|
| Dividend Yield | 1.97% |
| Yield on Cost 5y | 1.81% |
| Yield CAGR 5y | -4.09% |
| Payout Consistency | 91.7% |
| Payout Ratio | 27.2% |
MRK Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | -13.49% |
| CAGR/Max DD Calmar Ratio | -0.30 |
| CAGR/Mean DD Pain Ratio | -0.55 |
| Current Volume | 403.1k |
| Average Volume | 288.7k |
Piotroski VR‑10 (Strict, 0-10) 7.0
| Net Income (2.86b TTM) > 0 and > 6% of Revenue (6% = 1.27b TTM) |
| FCFTA 0.04 (>2.0%) and ΔFCFTA -0.07pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 11.01% (prev 14.93%; Δ -3.92pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 3.81b > Net Income 2.86b (YES >=105%, WARN >=100%) |
| Net Debt (-1.17b) to EBITDA (5.87b) ratio: -0.20 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.24 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (434.8m) change vs 12m ago 0.0% (target <= -2.0% for YES) |
| Gross Margin 58.51% (prev 58.22%; Δ 0.29pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 43.65% (prev 41.84%; Δ 1.80pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 12.24 (EBITDA TTM 5.87b / Interest Expense TTM 322.0m) >= 6 (WARN >= 3) |
Altman Z'' 3.83
| (A) 0.05 = (Total Current Assets 12.20b - Total Current Liabilities 9.86b) / Total Assets 47.35b |
| (B) 0.49 = Retained Earnings (Balance) 23.34b / Total Assets 47.35b |
| (C) 0.08 = EBIT TTM 3.94b / Avg Total Assets 48.61b |
| (D) 1.28 = Book Value of Equity 24.44b / Total Liabilities 19.02b |
| Total Rating: 3.83 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 61.33
| 1. Piotroski 7.0pt = 2.0 |
| 2. FCF Yield 3.02% = 1.51 |
| 3. FCF Margin 8.39% = 2.10 |
| 4. Debt/Equity 0.33 = 2.45 |
| 5. Debt/Ebitda -0.20 = 2.50 |
| 6. ROIC - WACC (= 4.39)% = 5.49 |
| 7. RoE 9.85% = 0.82 |
| 8. Rev. Trend -52.36% = -3.93 |
| 9. EPS Trend -32.09% = -1.60 |
What is the price of MRK shares?
Over the past week, the price has changed by -0.89%, over one month by -1.15%, over three months by +0.81% and over the past year by -18.78%.
Is MRK a buy, sell or hold?
What are the forecasts/targets for the MRK price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 143.8 | 28.8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 104.9 | -6% |
MRK Fundamental Data Overview November 16, 2025
Market Cap EUR = 51.11b (51.11b EUR * 1.0 EUR.EUR)
P/E Trailing = 17.8376
P/E Forward = 12.0627
P/S = 2.4086
P/B = 1.7802
P/EG = 1.3398
Beta = 0.73
Revenue TTM = 21.22b EUR
EBIT TTM = 3.94b EUR
EBITDA TTM = 5.87b EUR
Long Term Debt = 6.37b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 3.10b EUR (from shortTermDebt, last quarter)
Debt = 9.40b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.17b EUR (from netDebt column, last quarter)
Enterprise Value = 58.94b EUR (51.11b + Debt 9.40b - CCE 1.57b)
Interest Coverage Ratio = 12.24 (Ebit TTM 3.94b / Interest Expense TTM 322.0m)
FCF Yield = 3.02% (FCF TTM 1.78b / Enterprise Value 58.94b)
FCF Margin = 8.39% (FCF TTM 1.78b / Revenue TTM 21.22b)
Net Margin = 13.49% (Net Income TTM 2.86b / Revenue TTM 21.22b)
Gross Margin = 58.51% ((Revenue TTM 21.22b - Cost of Revenue TTM 8.80b) / Revenue TTM)
Gross Margin QoQ = 57.60% (prev 59.56%)
Tobins Q-Ratio = 1.24 (Enterprise Value 58.94b / Total Assets 47.35b)
Interest Expense / Debt = 0.84% (Interest Expense 79.0m / Debt 9.40b)
Taxrate = 20.99% (174.0m / 829.0m)
NOPAT = 3.11b (EBIT 3.94b * (1 - 20.99%))
Current Ratio = 1.24 (Total Current Assets 12.20b / Total Current Liabilities 9.86b)
Debt / Equity = 0.33 (Debt 9.40b / totalStockholderEquity, last quarter 28.26b)
Debt / EBITDA = -0.20 (Net Debt -1.17b / EBITDA 5.87b)
Debt / FCF = -0.65 (Net Debt -1.17b / FCF TTM 1.78b)
Total Stockholder Equity = 29.08b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.05% (Net Income 2.86b / Total Assets 47.35b)
RoE = 9.85% (Net Income TTM 2.86b / Total Stockholder Equity 29.08b)
RoCE = 11.12% (EBIT 3.94b / Capital Employed (Equity 29.08b + L.T.Debt 6.37b))
RoIC = 9.90% (NOPAT 3.11b / Invested Capital 31.46b)
WACC = 5.51% (E(51.11b)/V(60.51b) * Re(6.40%) + D(9.40b)/V(60.51b) * Rd(0.84%) * (1-Tc(0.21)))
Discount Rate = 6.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
[DCF Debug] Terminal Value 76.78% ; FCFE base≈1.83b ; Y1≈1.66b ; Y5≈1.45b
Fair Price DCF = 202.9 (DCF Value 26.22b / Shares Outstanding 129.2m; 5y FCF grow -11.52% → 3.0% )
EPS Correlation: -32.09 | EPS CAGR: 0.0% | SUE: 0.68 | # QB: 0
Revenue Correlation: -52.36 | Revenue CAGR: -3.56% | SUE: -0.81 | # QB: 0