(MRK) Merck KGaA - Ratings and Ratios
Reagents, Filtration, Antibodies, Semiconductors, Oncology
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 1.79% |
| Yield on Cost 5y | 1.64% |
| Yield CAGR 5y | 11.96% |
| Payout Consistency | 91.8% |
| Payout Ratio | 26.6% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 28.3% |
| Value at Risk 5%th | 42.9% |
| Relative Tail Risk | -7.76% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.37 |
| Alpha | -15.30 |
| CAGR/Max DD | -0.24 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.284 |
| Beta | 0.154 |
| Beta Downside | 0.284 |
| Drawdowns 3y | |
|---|---|
| Max DD | 41.69% |
| Mean DD | 21.13% |
| Median DD | 18.84% |
Description: MRK Merck KGaA December 03, 2025
Merck KGaA (XETRA: MRK) is a diversified science-and-technology group organized into 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; the Healthcare arm develops and markets prescription drugs and related devices across oncology, neurology, immunology, fertility, cardiovascular, metabolic and endocrine indications; the Electronics segment provides specialty materials and metrology equipment for semiconductor and display manufacturing.
In FY 2023 the company generated €24.0 billion in revenue, with the Life Science segment contributing roughly 38 % and growing at a 5 % CAGR driven by expanding biotech R&D spend and demand for single-use bioprocessing solutions. Healthcare delivered €10.5 billion in sales, supported by a pipeline that includes a late-stage colorectal-cancer candidate (in-licensed from Jiangsu Hengrui) and a tenosynovial-giant-cell-tumor program (with Abbisko). The Electronics business, while smaller (≈ €2 billion), benefits from the secular up-cycle in semiconductor fab capacity and the shift toward advanced packaging, which has lifted demand for high-purity gases and thin-film materials. R&D intensity remains high at ~ 13 % of total sales, reflecting the firm’s commitment to pipeline renewal.
For a deeper, data-driven assessment of MRK’s valuation dynamics and how these segment trends translate into upside potential, you may find a focused analysis on ValueRay worth reviewing.
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 = A |
ValueRay F-Score (Strict, 0-100) 62.26
| 1. Piotroski: 6.0pt |
| 2. FCF Yield: 2.97% |
| 3. FCF Margin: 9.09% |
| 4. Debt/Equity: 0.42 |
| 5. Debt/Ebitda: -0.38 |
| 6. ROIC - WACC: 4.79% |
| 7. RoE: 10.11% |
| 8. Revenue Trend: -26.69% |
| 9. EPS Trend: -44.71% |
What is the price of MRK shares?
Over the past week, the price has changed by -0.39%, over one month by +6.91%, over three months by +11.51% and over the past year by -9.56%.
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 | 150.6 | 17.3% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 132.9 | 3.5% |
MRK Fundamental Data Overview January 17, 2026
P/E Trailing = 18.9838
P/E Forward = 14.8148
P/S = 2.6347
P/B = 1.9082
P/EG = 2.7141
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 = 65.22b EUR (56.04b + Debt 12.10b - CCE 2.92b)
Interest Coverage Ratio = 11.30 (Ebit TTM 4.06b / Interest Expense TTM 359.0m)
EV/FCF = 33.72x (Enterprise Value 65.22b / FCF TTM 1.93b)
FCF Yield = 2.97% (FCF TTM 1.93b / Enterprise Value 65.22b)
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 = 1.28 (Enterprise Value 65.22b / 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(56.04b)/V(68.15b) * Re(6.48%) + D(12.10b)/V(68.15b) * Rd(1.04%) * (1-Tc(0.20)))
Discount Rate = 6.48% (= 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: -44.71 | EPS CAGR: 0.13% | SUE: -2.51 | # QB: 0
Revenue Correlation: -26.69 | Revenue CAGR: 0.53% | SUE: 1.12 | # QB: 1
EPS next Year (2026-12-31): EPS=8.47 | Chg30d=+0.183 | Revisions Net=-2 | Growth EPS=-0.1% | Growth Revenue=+1.4%