MRK Stock Analysis: Merck KGaA | XETRA
Drug Manufacturers - Specialty & Generic | XETRA, Germany | Market Cap: 59.521m EUR | 12M Return: 19% | DE0006599905 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 41.7M
EPS Trend: -57.5%
Qual. Beats: 0
Rev. Trend: 9.4%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Merck KGaA (XETRA: MRK) is a diversified German science and technology company operating globally through three main segments: Life Science, Healthcare, and Electronics. The company is headquartered in Darmstadt, Germany, and traces its origins to 1668, making it one of the oldest continuously operating companies in the world. Despite its GICS classification under Pharmaceuticals, Merck KGaA is distinct from the U.S.-based Merck & Co. and has a notably broader industrial footprint.
The Life Science segment supplies laboratory products, reagents, bioprocessing solutions (including single-use systems, chromatography resins, and excipients), and contract development and manufacturing services (CDMO) to pharma, biotech, academic, and industrial customers. This segment serves the broader life sciences tools and services market, which includes high-growth areas such as biologics manufacturing and process development outsourcing.
The Healthcare segment focuses on prescription pharmaceuticals in oncology, neurology, immunology, rare diseases, fertility, and cardiometabolic disorders. The company has notable development partnerships, including an in-licensing agreement with Chinas Abbisko Therapeutics for tenosynovial giant cell tumor treatments and a strategic partnership with Versant Ventures targeting rare genetic cardiomyopathies. This segment operates in the highly competitive European and global pharmaceutical market, where rare disease and specialty therapeutics represent key growth areas.
The Electronics segment supplies advanced materials for the semiconductor industry, including photoresists, dielectric and metallic materials, etch chemistries, chemical-mechanical planarization (CMP) materials, and high-purity gases, as well as display materials such as liquid crystals and OLED materials. This positions the company as a key supplier across the semiconductor manufacturing value chain, including equipment for handling specialty chemicals and gases in fabs.
- Life Science bioprocessing revenue accelerates on biotech demand
- Semiconductor materials unit benefits from AI-driven chip cycle
- Healthcare pipeline advances in oncology and rare disease therapies
| Net Income: 2.37b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 1.25 > 1.0 |
| NWC/Revenue: 26.70% < 20% (prev 11.01%; Δ 15.69% < -1%) |
| CFO/TA 0.08 > 3% & CFO 4.23b > Net Income 2.37b |
| Net Debt (11.0b) to EBITDA (6.34b): 1.73 < 3 |
| Current Ratio: 1.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (434.8m) vs 12m ago 0.0% < -2% |
| Gross Margin: 58.69% > 18% (prev 58.51%; Δ 0.19% > 0.5%) |
| Asset Turnover: 42.25% > 50% (prev 44.81%; Δ -2.56% > 0%) |
| Interest Coverage Ratio: 8.02 > 6 (EBIT TTM 3.91b / Interest Expense TTM 488.0m) |
| A: 0.11 (Total Current Assets 13.8b - Total Current Liabilities 8.12b) / Total Assets 52.7b |
| B: 0.47 (Retained Earnings 24.9b / Total Assets 52.7b) |
| C: 0.08 (EBIT TTM 3.91b / Avg Total Assets 50.0b) |
| D: 1.35 (Book Value of Equity 30.2b / Total Liabilities 22.4b) |
| Altman-Z'' = 4.19 = AA |
| DSRI: 1.13 (Receivables 4.91b/4.36b, Revenue 21.1b/21.2b) |
| GMI: 1.00 (GM 58.51% / 58.69%) |
| AQI: 1.02 (AQ_t 0.55 / AQ_t-1 0.54) |
| SGI: 1.00 (Revenue 21.1b / 21.2b) |
| TATA: -0.04 (NI 2.37b - CFO 4.23b) / TA 52.7b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of October 12, 2026, the stock is trading at EUR 137.85 with a total of 197,782 shares traded. Over the past week, the price has changed by +0.69%, over one month by +3.88%, over three months by -1.25% and over the past year by +19.01%.
Current recommended Stop Loss: 130.70 (which is 5.2% or 2.2 ATR below the current price).
Merck KGaA has no consensus analysts rating.
P/E Trailing = 25.1193
P/E Forward = 14.8368
P/S = 2.8162
P/B = 1.9464
P/EG = 2.1489
Revenue TTM = 21.1b EUR
EBIT TTM = 3.91b EUR
EBITDA TTM = 6.34b EUR
Long Term Debt = 10.2b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.09b EUR (from shortTermDebt, last quarter)
Debt = 12.9b EUR (from shortLongTermDebtTotal, last quarter) + Leases 648.0m
Net Debt = 11.0b EUR (calculated: Debt 12.9b - CCE 1.96b)
Enterprise Value = 70.5b EUR (59.5b + Debt 12.9b - CCE 1.96b)
Interest Coverage Ratio = 8.02 (Ebit TTM 3.91b / Interest Expense TTM 488.0m)
EV/FCF = 26.69x (Enterprise Value 70.5b / FCF TTM 2.64b)
FCF Yield = 3.75% (FCF TTM 2.64b / Enterprise Value 70.5b)
FCF Margin = 12.50% (FCF TTM 2.64b / Revenue TTM 21.1b)
Net Margin = 11.22% (Net Income TTM 2.37b / Revenue TTM 21.1b)
Gross Margin = 58.69% ((Revenue TTM 21.1b - Cost of Revenue TTM 8.73b) / Revenue TTM)
Gross Margin QoQ = 58.26% (prev 59.70%)
Tobins Q-Ratio = 1.34 (Enterprise Value 70.5b / Total Assets 52.7b)
Interest Expense / Debt = 3.77% (Interest Expense 488.0m / Debt 12.9b)
Taxrate = 21.34% (647.0m / 3.03b)
NOPAT = 3.08b (EBIT 3.91b * (1 - 21.34%))
Current Ratio = 1.69 (Total Current Assets 13.8b / Total Current Liabilities 8.12b)
Debt / Equity = 0.43 (Debt 12.9b / totalStockholderEquity, last quarter 30.2b)
Debt / EBITDA = 1.73 (Net Debt 11.0b / EBITDA 6.34b)
Debt / FCF = 4.16 (Net Debt 11.0b / FCF TTM 2.64b)
Total Stockholder Equity = 29.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.74% (Net Income 2.37b / Total Assets 52.7b)
RoE = 8.08% (Net Income TTM 2.37b / Total Stockholder Equity 29.4b)
RoCE = 9.89% (EBIT 3.91b / Capital Employed (Equity 29.4b + L.T.Debt 10.2b))
RoIC = 6.90% (NOPAT 3.08b / Invested Capital 44.6b)
WACC = 6.95% (E(59.5b)/V(72.5b) * Re(7.82%) + D(12.9b)/V(72.5b) * Rd(3.77%) * (1-Tc(0.21)))
Discount Rate = 7.82% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 11.73 | Cagr: 0.0%
[DCF] Terminal Value 77.97% ; FCFF base≈2.30b ; Y1≈2.63b ; Y5≈3.88b
[DCF] Fair Price = 366.3 (EV 58.3b - Net Debt 11.0b = Equity 47.3b / Shares 129.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -57.51 | EPS CAGR: -2.59% | SUE: 0.54 | # QB: 0
Revenue Correlation: 9.39 | Revenue CAGR: 0.09% | SUE: 1.72 | # QB: 1
EPS current Quarter (2026-09-30): EPS=2.06 | Chg30d=+0.40% | Revisions=+17% | Analysts=3
EPS current Year (2026-12-31): EPS=8.42 | Chg30d=+0.82% | Revisions=+82% | GrowthEPS=+1.0% | GrowthRev=+1.8%
EPS next Year (2027-12-31): EPS=8.91 | Chg30d=+0.79% | Revisions=+10% | GrowthEPS=+5.9% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: +59% (up=20, down=4)