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Investlytic score: 3/5 criteria met. Data as of 03/10/2026.
- ❌ Price trend failed
- ✅ Growth passed
- ✅ Debt passed
- ✅ P/E passed
- ❌ Correction failed
Price trend
Overall trend (8 years): insufficient progression (less than x1.5).
Price change 2018 → 2019: 17.08%
Price change 2019 → 2020: 33.22%
Price change 2020 → 2021: 61.74%
Price change 2021 → 2022: -20.31%
Price change 2022 → 2023: -20.34%
Price change 2023 → 2024: -2.91%
Price change 2024 → 2025: -12.37%
Price change 2025 → 2026: 9.67%
Price change 2026 (year to date): 10.25%
Financial growth
Revenue CAGR (8 years): 5.16%
Earnings CAGR (8 years): 12.69%
Growth status: positive trend (>1%/yr) in revenue and earnings.
Debt
Debt-to-equity ratio: 0.42
Debt/equity < 0.5 (maximum threshold).
P/E (Price/Earnings)
P/E ratio: 16.14
P/E < 25.0 (maximum threshold).
Correction (6 months)
Current correction: 8.85% from the high over 6 months.
Insufficient correction (< 10.0%).
Criteria of the Investlytic model
- / 5Free with the Investlytic logo. Paste this line into your page: options.
<script src="https://investlytic.co/encart.js" data-symbole="MRK.DE" data-lang="en"></script>Price trend
Price & trend
Interactive chart →💰 Dividend
Dividend ranking →⚖️ Comparison with the market
All stocks →| Stock | P/E | Dette/FP | Revenue growth | Rating |
|---|---|---|---|---|
| Merck KGaA | 18.0 | 0.42 | +5.6 % | 🔒 |
| Moderna, Inc. | – | 0.22 | +37.8 % | – |
| EssilorLuxottica S.A. | 34.1 | 0.37 | +14.2 % | – |
| GSK plc | 10.7 | 1.08 | +0.9 % | – |
| Sanofi | 9.4 | 0.28 | +2.5 % | – |
Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.
Detailed analysis · Price trend
-
Revenues & profits
Revenue and net income
Financial indicators
Annual financial statements
| Fiscal year | Revenue | Net income | Net margin | EPS | Revenue growth |
|---|
Key reported figures
Revenue, net income and net margin reported by Merck KGaA over the latest fiscal years.
| Fiscal year | Revenue | Net income | Net margin | Revenue growth |
|---|---|---|---|---|
| 2020 | 19.6 bn | 2.2 bn | 11.3 % | n/a |
| 2021 | 22.0 bn | 3.4 bn | 15.5 % | +12.3 % |
| 2022 | 24.9 bn | 3.7 bn | 15.0 % | +12.9 % |
| 2023 | 23.5 bn | 3.2 bn | 13.4 % | -5.6 % |
| 2024 | 23.7 bn | 3.1 bn | 13.1 % | +0.8 % |
| 2025 | 23.6 bn | 2.9 bn | 12.4 % | -0.3 % |
Amounts converted to USD. Source: published annual accounts, collected on 30/10/2026.
Accounts and financial health
Balance sheet and cash flow published by Merck KGaA over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash and investments | 1.6 bn | 1.6 bn | 2.4 bn | 2.7 bn | 2.9 bn |
| Total Debt | 10.8 bn | 10.4 bn | 9.9 bn | 10.3 bn | 12.0 bn |
| Net Debt | 9.3 bn | 9.0 bn | 8.0 bn | 8.1 bn | 9.2 bn |
| Equity | 21.3 bn | 25.9 bn | 26.7 bn | 29.9 bn | 28.6 bn |
| Total assets | 45.4 bn | 48.5 bn | 48.5 bn | 51.6 bn | 52.1 bn |
| Operating cash flow | 4.6 bn | 4.3 bn | 3.8 bn | 4.6 bn | 3.9 bn |
| Investments (capex) | 1.4 bn | 1.8 bn | 1.8 bn | 1.7 bn | 3.6 bn |
| Free cash-flow | 3.2 bn | 2.5 bn | 1.8 bn | 2.4 bn | 2.3 bn |
| Share buybacks | 0 | 0 | 0 | 0 | 0 |
| Dividends paid | 748 m | 955 m | 1.2 bn | 284 m | 1.0 bn |
Amounts in EUR, currency of the published accounts.
Trailing 12-month ratios
Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 05/11/2026.
Valuation and competitors
Merck KGaA compared with its sector on the same exchange and with its main competitors.
Direct competitors
| Company | Market cap (USD) | P/E | Net margin |
|---|---|---|---|
| Merck KGaA | 73.6 bn | 18.0 | 12.4 % |
| Bayer AG BAYN.DE | 55.6 bn | 10.5 | -7.9 % |
| Galderma Group N GALD.SW | 54.6 bn | 66.0 | 12.2 % |
| Jiangsu Hengrui Medicine Co., Ltd. 600276.SS | 46.5 bn | 41.1 | 24.5 % |
| Sun Pharmaceutical Industries Limited SUNPHARMA.NS | 44.9 bn | 34.5 | 20.8 % |
| Sandoz Group AG SDZ.SW | 43.3 bn | 69.2 | 8.6 % |
| Sector median (Xetra) | 32.1 |
Trailing 12-month P/E. Sector: median of companies in the same sector listed on the same exchange, collected on 02/11/2026. Competitors: comparable companies named by the data provider.
Analyst consensus and forecasts
What the financial analysts covering Merck KGaA publish: ratings, price targets and earnings forecasts.
Breakdown of ratings
Price targets: published for companies listed in the United States only.
Analyst forecasts
| Fiscal year | Revenue | Net income | Expected EPS (range) | P/E on this EPS | Analysts |
|---|---|---|---|---|---|
| 2026 | 21.5 bn | 3.7 bn | 8.49 (8.33 / 9.01) | 17.8 | 14 |
| 2027 | 22.7 bn | 3.9 bn | 9.03 (8.42 / 9.84) | 16.8 | 14 |
| 2028 | 23.9 bn | 4.3 bn | 9.92 (8.41 / 11.66) | 15.2 | 11 |
Amounts in EUR, the reporting currency.
Track record against expectations: reported EPS above consensus 7 times over the last 12 releases.
Source: ratings and forecasts published by analysts, collected on 03/11/2026. An analyst rating or target is not a guarantee.
Dividends and earnings
Merck KGaA: dividend history, last distributions, stock splits and earnings releases.
Annual dividend per share (EUR), adjusted for splits. Light bar: current year, incomplete. Red bar: lower than the previous year.
Latest ex-dividend dates
| Ex-dividend | Amount | Payment |
|---|---|---|
| 27/04/2026 | 2.20 EUR | 29/04/2026 |
| 28/04/2025 | 2.20 EUR | 30/04/2025 |
| 29/04/2024 | 2.20 EUR | 02/05/2024 |
| 02/05/2023 | 2.20 EUR | 04/05/2023 |
| 25/04/2022 | 1.85 EUR | 27/04/2022 |
| 26/04/2021 | 1.40 EUR | 28/04/2021 |
| 29/05/2020 | 1.30 EUR | 03/06/2020 |
| 29/04/2019 | 1.25 EUR | 02/05/2019 |
Earnings releases
Next release: 12/11/2026. Expected EPS: 2.20.
| Date | Published EPS | Expected EPS | Surprise |
|---|---|---|---|
| 06/08/2026 | 2.14 | 2.00 | +7.0 % |
| 13/05/2026 | 2.10 | 1.94 | +8.2 % |
| 05/03/2026 | 1.92 | 1.99 | -3.5 % |
| 13/11/2025 | 2.34 | 2.23 | +4.9 % |
| 07/08/2025 | 2.04 | 2.16 | -5.6 % |
| 15/05/2025 | 2.05 | 2.09 | -1.9 % |
Stock splits
| Date | Operation |
|---|---|
| 30/06/2014 | split: 2 shares for 1 |
| 24/01/2007 | split: 203 shares for 200 |
Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.
Who owns the stock
Free float, institutional investors, large funds, executives and elected officials: declared positions in Merck KGaA.
Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 31/10/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.
PEA and practical information
Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.
Frequently asked questions about Merck KGaA
What is the Merck KGaA share price?
Latest recorded price: 151.30 EUR on 30/10/2026, for a market cap of 73.6 bn USD.
What is the revenue of Merck KGaA?
23.6 bn USD for fiscal year 2025, with net income of 2.9 bn USD (net margin 12.4 %).
Does Merck KGaA pay a dividend?
Yes. Latest dividend: 2.20 EUR per share, ex-dividend on 27/04/2026. Over 12 months: 2.20 EUR. Yield on the latest known price: 1.9 %.
When does Merck KGaA report its next earnings?
The next release is expected on 12/11/2026. EPS expected by analysts: 2.14.
What do analysts say about Merck KGaA?
Out of 14 analysts: 7 buy or strong buy, 7 hold, 0 sell or strong sell.
What is the P/E ratio of Merck KGaA?
Trailing 12-month P/E of 18.0, against 32.1 for the sector median on the same exchange (10-year median: 26.9).
Is Merck KGaA stock eligible for the French PEA?
Likely: the company is headquartered in the European Union or the European Economic Area (ISIN DE0006599905) and the stock is listed on a European exchange. The institution holding the PEA confirms eligibility.
How many employees does Merck KGaA have?
59,020 full-time employees according to the latest published profile.
Who runs Merck KGaA?
Belen Garijo Lopez is the company's chief executive.