(MRK) Merck KGaA - Overview
Stock: Reagents, Pharmaceuticals, Biosimilars, Semiconductors, Displays
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.79% |
| Yield on Cost 5y | 1.66% |
| Yield CAGR 5y | 11.96% |
| Payout Consistency | 91.8% |
| Payout Ratio | 34.1% |
| Risk 5d forecast | |
|---|---|
| Volatility | 26.2% |
| Relative Tail Risk | -7.13% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.44 |
| Alpha | -18.30 |
| Character TTM | |
|---|---|
| Beta | 0.161 |
| Beta Downside | 0.275 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.54% |
| CAGR/Max DD | -0.28 |
Description: MRK Merck KGaA January 29, 2026
Merck KGaA (XETRA: MRK) is a German-headquartered science and technology group that operates through three core segments: Life Science, Healthcare, and Electronics. The Life Science division supplies reagents, consumables, instruments, and contract services to academic, biotech, and pharmaceutical customers, while also providing process solutions such as filtration and chromatography products. The Healthcare arm develops and markets prescription medicines and biopharmaceuticals across oncology, neurology, immunology, fertility, cardiovascular, metabolic and endocrine indications, plus related devices and monitoring software. The Electronics segment delivers specialty materials, gases, and metrology equipment for semiconductor and display manufacturing, and the company holds in-licensing partnerships for oncology and rare-disease drug candidates.
In FY 2023 Merck KGaA reported total revenue of €23.0 billion, a 4 % year-over-year increase, with the Life Science segment outpacing the group at +7 % growth driven by rising demand for biotech research tools. Healthcare revenue was broadly flat, reflecting a transitional product pipeline, while Electronics fell 2 % amid the cyclic slowdown in semiconductor capital expenditures. R&D spending remained at €2.3 billion (≈10 % of sales), underscoring the company’s commitment to pipeline renewal. Macro-level drivers include a 12 % annual rise in global biotech R&D budgets and the semiconductor industry’s sensitivity to macro-economic cycles, both of which materially affect Merck’s top-line outlook.
For a deeper, data-driven assessment of Merck KGaA’s valuation dynamics, consider exploring the detailed analyst models on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 2.96b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.24 > 1.0 |
| NWC/Revenue: 19.93% < 20% (prev 16.53%; Δ 3.39% < -1%) |
| CFO/TA 0.08 > 3% & CFO 3.87b > Net Income 2.96b |
| Net Debt (-2.25b) to EBITDA (6.00b): -0.38 < 3 |
| Current Ratio: 1.49 > 1.5 & < 3 |
| Outstanding Shares: last quarter (435.7m) vs 12m ago 0.18% < -2% |
| Gross Margin: 58.69% > 18% (prev 0.59%; Δ 5810 % > 0.5%) |
| Asset Turnover: 42.09% > 50% (prev 41.81%; Δ 0.28% > 0%) |
| Interest Coverage Ratio: 11.30 > 6 (EBITDA TTM 6.00b / Interest Expense TTM 359.0m) |
Altman Z'' 3.84
| A: 0.08 (Total Current Assets 12.88b - Total Current Liabilities 8.64b) / Total Assets 50.93b |
| B: 0.48 (Retained Earnings 24.20b / Total Assets 50.93b) |
| C: 0.08 (EBIT TTM 4.06b / Avg Total Assets 50.53b) |
| D: 1.15 (Book Value of Equity 25.12b / Total Liabilities 21.93b) |
| Altman-Z'' Score: 3.84 = AA |
Beneish M -2.98
| DSRI: 1.04 (Receivables 4.34b/4.11b, Revenue 21.27b/20.96b) |
| GMI: 1.00 (GM 58.69% / 58.60%) |
| AQI: 1.04 (AQ_t 0.56 / AQ_t-1 0.53) |
| SGI: 1.01 (Revenue 21.27b / 20.96b) |
| TATA: -0.02 (NI 2.96b - CFO 3.87b) / TA 50.93b) |
| Beneish M-Score: -2.98 (Cap -4..+1) = A |
What is the price of MRK shares?
Over the past week, the price has changed by -3.02%, over one month by -0.89%, over three months by +10.45% and over the past year by -11.96%.
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 | 151.6 | 24.2% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 125.3 | 2.6% |
MRK Fundamental Data Overview February 02, 2026
P/E Trailing = 18.4632
P/E Forward = 14.6843
P/S = 2.5662
P/B = 1.891
P/EG = 2.6896
Revenue TTM = 21.27b EUR
EBIT TTM = 4.06b EUR
EBITDA TTM = 6.00b EUR
Long Term Debt = 6.37b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.65b EUR (from shortTermDebt, last quarter)
Debt = 12.10b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.25b EUR (from netDebt column, last quarter)
Enterprise Value = 63.77b EUR (54.59b + Debt 12.10b - CCE 2.92b)
Interest Coverage Ratio = 11.30 (Ebit TTM 4.06b / Interest Expense TTM 359.0m)
EV/FCF = 32.97x (Enterprise Value 63.77b / FCF TTM 1.93b)
FCF Yield = 3.03% (FCF TTM 1.93b / Enterprise Value 63.77b)
FCF Margin = 9.09% (FCF TTM 1.93b / Revenue TTM 21.27b)
Net Margin = 13.90% (Net Income TTM 2.96b / Revenue TTM 21.27b)
Gross Margin = 58.69% ((Revenue TTM 21.27b - Cost of Revenue TTM 8.79b) / Revenue TTM)
Gross Margin QoQ = 60.42% (prev 57.60%)
Tobins Q-Ratio = 1.25 (Enterprise Value 63.77b / Total Assets 50.93b)
Interest Expense / Debt = 1.04% (Interest Expense 126.0m / Debt 12.10b)
Taxrate = 20.05% (225.0m / 1.12b)
NOPAT = 3.24b (EBIT 4.06b * (1 - 20.05%))
Current Ratio = 1.49 (Total Current Assets 12.88b / Total Current Liabilities 8.64b)
Debt / Equity = 0.42 (Debt 12.10b / totalStockholderEquity, last quarter 28.94b)
Debt / EBITDA = -0.38 (Net Debt -2.25b / EBITDA 6.00b)
Debt / FCF = -1.16 (Net Debt -2.25b / FCF TTM 1.93b)
Total Stockholder Equity = 29.23b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.85% (Net Income 2.96b / Total Assets 50.93b)
RoE = 10.11% (Net Income TTM 2.96b / Total Stockholder Equity 29.23b)
RoCE = 11.40% (EBIT 4.06b / Capital Employed (Equity 29.23b + L.T.Debt 6.37b))
RoIC = 10.26% (NOPAT 3.24b / Invested Capital 31.61b)
WACC = 5.48% (E(54.59b)/V(66.69b) * Re(6.51%) + D(12.10b)/V(66.69b) * Rd(1.04%) * (1-Tc(0.20)))
Discount Rate = 6.51% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 81.65 | Cagr: 0.11%
[DCF Debug] Terminal Value 85.42% ; FCFF base≈1.97b ; Y1≈1.81b ; Y5≈1.61b
Fair Price DCF = 391.9 (EV 48.39b - Net Debt -2.25b = Equity 50.65b / Shares 129.2m; r=5.90% [WACC]; 5y FCF grow -10.45% → 2.90% )
EPS Correlation: -40.63 | EPS CAGR: 3.22% | SUE: 0.81 | # QB: 0
Revenue Correlation: -26.69 | Revenue CAGR: 0.53% | SUE: 1.12 | # QB: 1
EPS next Year (2026-12-31): EPS=8.50 | Chg30d=+0.211 | Revisions Net=+0 | Growth EPS=+0.2% | Growth Revenue=+1.2%