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Merck KGaA (MRK.DE)

EUR138.65 -1.20 (-0.86%)
DE XETRA Healthcare Drug Manufacturers - Specialty & Generic
Address Frankfurter Strasse 250 64293
Darmstadt, DE
CEO Belen Garijo Lopez
IPO 1998-06-26
ISIN DE0006599905

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Also trades on Deutsche Börse · MRK.DE (EUR) Other OTC · MKGAF (USD) Other OTC · MKKGY (USD) Swiss Exchange · MER.SW (CHF)
Description

Merck KGaA is a German science and technology company with operations divided into three core segments: Life Science, Healthcare, and Electronics. The Life Science division supplies essential tools, chemicals, and equipment to academic research institutions, biotechnology firms, pharmaceutical manufacturers, and various industrial sectors. It also offers specialized process development expertise, such as continuous bioprocessing for drug manufacturers, provides a range of testing kits, reagents, and services, and develops solutions for analyzing environmental samples like air, water, and soil. Furthermore, this segment aids in assessing nutritional value and identifying quality control issues. In its Healthcare segment, the company is involved in the entire lifecycle of prescription drugs and biopharmaceuticals, from initial discovery and development through manufacturing and marketing. Its therapeutic focus areas include oncology, neurology and immunology, fertility, endocrinology, cardiovascular diseases, diabetes, thyroid disorders, and multiple sclerosis. This segment also produces general medicines, injection devices, and software for disease monitoring. The Electronics division delivers critical materials for the semiconductor and display industries. It also specializes in surface design, providing delivery systems and services, along with a variety of surface solutions for applications such as cosmetics, effect pigments, and other functional materials. Merck KGaA is also actively engaged in strategic partnerships. These include in-licensing agreements with Debiopharm International SA for developing treatments for head and neck cancer, with Jiangsu Hengrui Pharmaceuticals Co. Ltd. for metastatic colorectal cancer drug candidates, and with Abbisko Therapeutics Co. Ltd. for therapies targeting tenosynovial giant cell tumors. Additionally, the company is involved in collaborations focused on discovering and developing targeted protein degraders against critical oncogenic proteins. Founded in 1668 and headquartered in Darmstadt, Germany, Merck KGaA operates as a subsidiary of E. Merck KG.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
EUR138.65 -1.20 (-0.86%)
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Volume Profile
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Liquidity & share structure
Average Volume
370.8K
Beta
0.82
Float Shares
434.79M
Free Float %
100.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-2.82% +4.22% -0.97% -7.60% +1.38% -3.77% +2.04% -26.40% -16.86% +42.19% +491.18%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
138.65
DCF (Unlevered) 126.40 -8.8%
DCF (Levered) 86.54 -37.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 69% Bullish
Rating 2026-05 Change
Strong Buy 3 0
Buy 8 0
Hold 5 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.72
Grey zone
Piotroski F-Score
7 / 9
Strong
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
4 / 5
High
ROE Score
4 / 5
High
ROA Score
4 / 5
High
D/E Score
2 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Drug Manufacturers - Specialty & Generic: +6.8%
    -0.3% Q1'26: -2.8% (vs Q1'25)
  • EPS growth Drug Manufacturers - Specialty & Generic: +16.5%
    -6.1% Q1'26: -10.1% (vs Q1'25)
  • FCF margin FCF growth · Drug Manufacturers - Specialty & Generic: +32.3%
    +12.3% Q1'26: +7.1% (vs Q1'25)
  • EBIT margin Drug Manufacturers - Specialty & Generic: +13.0%
    +19.3% Q1'26: +19.3% (vs Q1'25)
  • ROIC Drug Manufacturers - Specialty & Generic: +6.5%
    +8.5% Q1'26: +7.8% (vs Q1'25)
  • Share dilution Drug Manufacturers - Specialty & Generic: +0.0%
    +0.0% Q1'26: 0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Drug Manufacturers - Specialty & Generic: -0.10×
    2.01× Q1'26: 2.02× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.78) × ERP
WACC = 80% × Ke + 20% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 124.97 Current price: 138.65
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
13 Rev. Ana.
12 EPS Ana.
Dec 2027
13 Rev. Ana.
12 EPS Ana.
Dec 2028
11 Rev. Ana.
8 EPS Ana.
Dec 2029
5 Rev. Ana.
6 EPS Ana.
Dec 2030
5 Rev. Ana.
6 EPS Ana.
Revenue
10.28B
est: 10.37B (-0.9%)
11.17B
est: 11.19B (-0.1%)
11.10B
est: 11.24B (-1.3%)
11.36B
est: 11.52B (-1.4%)
12.84B
est: 12.83B (+0.1%)
15.02B
est: 15.03B (0.0%)
14.52B
est: 15.29B (-5.1%)
14.84B
est: 14.77B (+0.4%)
16.15B
est: 16.10B (+0.3%)
17.53B
est: 17.42B (+0.6%)
19.69B
est: 19.64B (+0.2%)
22.23B
est: 22.25B (-0.1%)
20.99B
est: 20.87B (+0.6%)
21.16B
est: 21.13B (+0.1%)
21.10B
est: 21.18B (-0.4%)
20.96B
20.61B – 21.34B
-1.1% YoY
21.97B
21.28B – 22.34B
+4.8% YoY
23.17B
23.15B – 23.19B
+5.5% YoY
24.33B
23.75B – 24.76B
+5.0% YoY
25.47B
24.85B – 25.92B
+4.7% YoY
EBITDA
2.41B
est: 2.17B (+10.9%)
3.14B
est: 2.38B (+32.1%)
3.33B
est: 1.91B (+74.4%)
3.09B
est: 2.73B (+13.2%)
3.50B
est: 3.15B (+11.0%)
4.17B
est: 3.18B (+31.4%)
3.77B
est: 3.88B (-2.8%)
3.50B
est: 3.55B (-1.3%)
3.91B
est: 5.84B (-33.1%)
4.91B
est: 3.65B (+34.4%)
5.99B
est: 3.83B (+56.5%)
6.79B
est: 4.02B (+68.8%)
5.83B
est: 6.10B (-4.5%)
6.17B
est: 5.29B (+16.6%)
5.95B
est: 6.19B (-4.0%)
6.12B
6.02B – 6.24B
-1.1% YoY
6.42B
6.22B – 6.53B
+4.8% YoY
6.77B
6.76B – 6.78B
+5.5% YoY
7.11B
6.94B – 7.24B
+5.0% YoY
7.44B
7.26B – 7.57B
+4.7% YoY
EBIT
1.16B
est: 1.26B (-7.4%)
1.82B
est: 1.22B (+49.5%)
2.09B
est: 968.52M (+115.9%)
1.83B
est: 1.64B (+11.0%)
2.11B
est: 2.01B (+5.1%)
2.37B
est: 2.18B (+8.5%)
2.01B
est: 2.52B (-20.4%)
1.75B
est: 2.33B (-24.7%)
2.00B
est: 1.89B (+6.1%)
3.15B
est: 2.30B (+36.9%)
4.28B
est: 2.41B (+77.5%)
5.00B
est: 2.53B (+97.1%)
4.04B
est: 4.32B (-6.3%)
4.37B
est: 4.37B (-0.2%)
4.07B
est: 4.38B (-7.2%)
4.33B
4.26B – 4.41B
-1.1% YoY
4.54B
4.40B – 4.62B
+4.8% YoY
4.79B
4.79B – 4.80B
+5.5% YoY
5.03B
4.91B – 5.12B
+5.0% YoY
5.27B
5.14B – 5.36B
+4.7% YoY
Net Income
606.51M
est: 713.49M (-15.0%)
566.70M
est: 661.13M (-14.3%)
1.20B
est: 569.66M (+111.0%)
1.16B
est: 1.23B (-5.7%)
1.11B
est: 1.32B (-15.7%)
1.63B
est: 1.32B (+23.4%)
2.61B
est: 1.66B (+57.2%)
1.13B
est: 2.50B (-54.8%)
1.32B
est: 3.68B (-64.2%)
1.99B
est: 1.43B (+38.7%)
3.06B
est: 1.50B (+103.4%)
3.33B
est: 3.08B (+8.0%)
2.82B
est: 2.63B (+7.5%)
2.78B
est: 3.78B (-26.5%)
2.61B
est: 3.65B (-28.5%)
3.29B
3.07B – 3.52B
-9.7% YoY
3.66B
3.38B – 3.93B
+11.1% YoY
4.12B
3.64B – 4.61B
+12.7% YoY
4.54B
4.39B – 4.64B
+10.0% YoY
4.82B
4.67B – 4.93B
+6.3% YoY
SGA
3.64B
est: 3.77B (-3.5%)
3.65B
est: 3.87B (-5.6%)
3.55B
est: 3.56B (-0.4%)
3.48B
est: 3.53B (-1.4%)
4.08B
est: 3.97B (+2.6%)
4.34B
est: 4.72B (-8.1%)
4.23B
est: 4.49B (-5.6%)
4.40B
est: 4.07B (+8.2%)
4.84B
est: 4.65B (+4.2%)
4.49B
est: 5.08B (-11.7%)
4.86B
est: 5.33B (-9.0%)
5.26B
est: 5.60B (-6.2%)
5.02B
est: 5.07B (-1.1%)
5.16B
est: 6.21B (-16.8%)
5.27B
est: 5.15B (+2.2%)
5.10B
5.01B – 5.19B
-1.1% YoY
5.34B
5.17B – 5.43B
+4.8% YoY
5.63B
5.63B – 5.64B
+5.5% YoY
5.92B
5.77B – 6.02B
+5.0% YoY
6.19B
6.04B – 6.30B
+4.7% YoY
EPS
1.40
est: 3.57 (-60.8%)
1.31
est: 3.83 (-65.8%)
2.77
est: 4.46 (-37.9%)
2.66
est: 4.70 (-43.4%)
2.56
est: 4.89 (-47.6%)
3.75
est: 6.28 (-40.3%)
5.99
est: 6.20 (-3.4%)
2.60
est: 5.26 (-50.6%)
3.04
est: 5.53 (-45.0%)
4.57
est: 6.73 (-32.1%)
7.03
est: 8.76 (-19.7%)
7.65
est: 10.19 (-25.0%)
6.50
est: 6.04 (+7.6%)
6.39
est: 8.72 (-26.8%)
6.00
est: 8.43 (-28.8%)
7.80
7.07 – 8.09
-7.4% YoY
8.56
7.78 – 9.05
+9.7% YoY
9.44
8.37 – 10.60
+10.3% YoY
10.43
10.11 – 10.67
+10.6% YoY
11.09
10.74 – 11.35
+6.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 B+ 3/5 4/5 4/5 4/5 2/5 2/5 3/5
2026-05-11 B+ 3/5 4/5 4/5 4/5 2/5 2/5 3/5
2026-05-08 B+ 3/5 4/5 3/5 4/5 2/5 3/5 3/5
2026-05-07 B+ 3/5 4/5 3/5 4/5 2/5 3/5 3/5
2026-05-06 B+ 3/5 4/5 3/5 4/5 2/5 3/5 3/5
2026-05-05 B+ 3/5 3/5 3/5 4/5 2/5 3/5 3/5
2026-05-04 B+ 3/5 3/5 3/5 4/5 2/5 3/5 3/5
2026-04-30 B 3/5 3/5 3/5 4/5 1/5 3/5 3/5
2026-04-29 B+ 3/5 4/5 3/5 4/5 1/5 3/5 3/5
2026-04-28 B+ 3/5 4/5 3/5 4/5 1/5 3/5 3/5
2026-04-27 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-24 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-23 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-22 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-21 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-20 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-17 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-16 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5
2026-04-15 B+ 3/5 4/5 3/5 5/5 1/5 3/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
2.06B
OE per share TTM
4.74
Owner's Yield
4.20%
Maintenance CapEx ratio
153.12%
Maint CapEx / Avg PPE
41.1%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
3
Total invested
1.28M
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
3
+1 vs prev Q
New positions
1
Closed positions
0
Increased
1
Reduced
0
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 REIK & CO., LLC 4.0K +— (+0.0%) 590.4K +68.0K (+13.0%) 0.00% +0.000 pp 0.16% +0.028 pp EUR85.04 +44.2% 41 qtrs
2 GAMMA INVESTING LLC 34.00 +— (+0.0%) 5.0K +577.0 (+13.0%) 0.00% +0.000 pp 0.00% +0.000 pp EUR144.15 -14.9% 9 qtrs
Ownership breakdown by holder

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
68.9K
Shares Outstanding
434.79M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Belen Garijo Lopez Executive Officer 7M female
Kai Beckmann CEO & Chair of Management Board 5M
Helene von Roeder Chief Financial Officer & Member of Executive Board 5M female
Danny Pinhas Bar-Zohar Member of the Executive Board & Chief Executive Officer of Healthcare 1M male
Khadija Ben Hammada Member of the Executive Board & Chief People Officer 1M female
Jean Charles Wirth Member of the Executive Board & Chief Executive Officer Life Science 1M male
Marc Horn Head of Life Science Controlling male
Benjamin Hein Member of Management Board & CEO of Electronics Business Sector male
Florian Schraeder Head of Investor Relations
Frank Gotthardt Head of Corporate & Government Relations - Europe male
Axel Lober Head of Global Communications male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits