(MRK) Merck KGaA - Overview
Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: XETRA (Germany) | Market Cap: 55.912m EUR | Total Return: 13.5% in 12m
Avg Turnover: 39.6M
EPS Trend: -69.0%
Qual. Beats: -1
Rev. Trend: -35.8%
Qual. Beats: 0
Warnings
Extended 1w Choppy
Tailwinds
No distinct edge detected
Merck KGaA is a diversified science and technology organization headquartered in Darmstadt, Germany, operating through three primary segments: Life Science, Healthcare, and Electronics. The Life Science division provides critical tools and reagents for drug development and diagnostic labs, while the Healthcare segment focuses on proprietary biopharmaceutical research in oncology, neurology, and fertility. The Electronics division supplies high-purity chemicals and materials essential for semiconductor manufacturing and display technologies.
The company utilizes a high-barrier business model characterized by heavy investment in Research and Development (R&D) and long-term supply contracts within the semiconductor and pharmaceutical supply chains. As a Science and Technology firm rather than a pure-play pharmaceutical company, its revenue streams are diversified across industrial specialty chemicals and life science consumables, which often provide more stable cash flows than volatile drug discovery cycles. Investors may find it useful to examine ValueRay for a deeper look into the companys valuation metrics.
Founded in 1668, Merck KGaA is one of the worlds oldest chemical and pharmaceutical companies and maintains a majority-owned structure under E. Merck KG. Its global footprint spans Europe, North America, and the Asia Pacific, with recent strategic expansions including in-licensing agreements to bolster its oncology pipeline in international markets.
- Semiconductor cycle recovery drives demand for Electronics segment specialty materials
- Bioprocessing inventory normalization stabilizes Life Science revenue and margins
- Oncology and neurology pipeline success determines Healthcare segment growth trajectory
- Foreign exchange volatility impacts global earnings across diverse geographic markets
- Strategic acquisitions in biopharma services expand contract manufacturing market share
| Net Income: 2.53b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 0.43 > 1.0 |
| NWC/Revenue: 22.96% < 20% (prev 13.65%; Δ 9.31% < -1%) |
| CFO/TA 0.08 > 3% & CFO 4.19b > Net Income 2.53b |
| Net Debt (9.94b) to EBITDA (6.39b): 1.56 < 3 |
| Current Ratio: 1.51 > 1.5 & < 3 |
| Outstanding Shares: last quarter (434.8m) vs 12m ago -0.03% < -2% |
| Gross Margin: 58.53% > 18% (prev 0.59%; Δ 5.79k% > 0.5%) |
| Asset Turnover: 40.91% > 50% (prev 43.17%; Δ -2.26% > 0%) |
| Interest Coverage Ratio: 9.46 > 6 (EBITDA TTM 6.39b / Interest Expense TTM 430.0m) |
| A: 0.09 (Total Current Assets 14.2b - Total Current Liabilities 9.35b) / Total Assets 53.1b |
| B: 0.47 (Retained Earnings 24.7b / Total Assets 53.1b) |
| C: 0.08 (EBIT TTM 4.07b / Avg Total Assets 51.2b) |
| D: 1.12 (Book Value of Equity 25.9b / Total Liabilities 23.2b) |
| Altman-Z'' = 3.82 = AA |
| DSRI: 1.09 (Receivables 4.78b/4.47b, Revenue 21.0b/21.3b) |
| GMI: 1.01 (GM 58.53% / 59.21%) |
| AQI: 0.99 (AQ_t 0.54 / AQ_t-1 0.55) |
| SGI: 0.98 (Revenue 21.0b / 21.3b) |
| TATA: -0.03 (NI 2.53b - CFO 4.19b) / TA 53.1b) |
| Beneish M = -2.99 (Cap -4..+1) = A |
As of May 25, 2026, the stock is trading at EUR 126.40 with a total of 414,118 shares traded.
Over the past week, the price has changed by +9.59%,
over one month by +17.23%,
over three months by +4.53% and
over the past year by +13.48%.
Merck KGaA has no consensus analysts rating.
P/E Trailing = 22.0583
P/E Forward = 18.5185
P/S = 2.6681
P/B = 1.8478
P/EG = 2.5027
Revenue TTM = 21.0b EUR
EBIT TTM = 4.07b EUR
EBITDA TTM = 6.39b EUR
Long Term Debt = 10.2b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.24b EUR (from shortTermDebt, last quarter)
Debt = 12.7b EUR (from shortLongTermDebtTotal, last quarter) + Leases 648.0m
Net Debt = 9.94b EUR (calculated: Debt 12.7b - CCE 2.74b)
Enterprise Value = 65.9b EUR (55.9b + Debt 12.7b - CCE 2.74b)
Interest Coverage Ratio = 9.46 (Ebit TTM 4.07b / Interest Expense TTM 430.0m)
EV/FCF = 27.25x (Enterprise Value 65.9b / FCF TTM 2.42b)
FCF Yield = 3.67% (FCF TTM 2.42b / Enterprise Value 65.9b)
FCF Margin = 11.53% (FCF TTM 2.42b / Revenue TTM 21.0b)
Net Margin = 12.09% (Net Income TTM 2.53b / Revenue TTM 21.0b)
Gross Margin = 58.53% ((Revenue TTM 21.0b - Cost of Revenue TTM 8.69b) / Revenue TTM)
Gross Margin QoQ = 59.70% (prev 56.41%)
Tobins Q-Ratio = 1.24 (Enterprise Value 65.9b / Total Assets 53.1b)
Interest Expense / Debt = 3.39% (Interest Expense 430.0m / Debt 12.7b)
Taxrate = 23.01% (200.0m / 869.0m)
NOPAT = 3.13b (EBIT 4.07b * (1 - 23.01%))
Current Ratio = 1.51 (Total Current Assets 14.2b / Total Current Liabilities 9.35b)
Debt / Equity = 0.43 (Debt 12.7b / totalStockholderEquity, last quarter 29.7b)
Debt / EBITDA = 1.56 (Net Debt 9.94b / EBITDA 6.39b)
Debt / FCF = 4.11 (Net Debt 9.94b / FCF TTM 2.42b)
Total Stockholder Equity = 28.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.95% (Net Income 2.53b / Total Assets 53.1b)
RoE = 8.77% (Net Income TTM 2.53b / Total Stockholder Equity 28.9b)
RoCE = 10.41% (EBIT 4.07b / Capital Employed (Equity 28.9b + L.T.Debt 10.2b))
RoIC = 7.42% (NOPAT 3.13b / Invested Capital 42.2b)
WACC = 6.97% (E(55.9b)/V(68.6b) * Re(7.96%) + D(12.7b)/V(68.6b) * Rd(3.39%) * (1-Tc(0.23)))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 12.17 | Cagr: 0.0%
[DCF] Terminal Value 77.97% ; FCFF base≈2.27b ; Y1≈2.60b ; Y5≈3.82b
[DCF] Fair Price = 368.1 (EV 57.5b - Net Debt 9.94b = Equity 47.6b / Shares 129.2m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -68.97 | EPS CAGR: -3.73% | SUE: -2.01 | # QB: -1
Revenue Correlation: -35.81 | Revenue CAGR: -0.62% | SUE: 0.67 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.00 | Chg30d=-3.65% | Revisions=-43% | Analysts=3
EPS next Quarter (2026-09-30): EPS=2.04 | Chg30d=-2.92% | Revisions=-14% | Analysts=3
EPS current Year (2026-12-31): EPS=7.95 | Chg30d=+3.26% | Revisions=+53% | GrowthEPS=-4.7% | GrowthRev=-0.5%
EPS next Year (2027-12-31): EPS=8.67 | Chg30d=+1.28% | Revisions=+18% | GrowthEPS=+9.0% | GrowthRev=+4.9%
[Analyst] Revisions Ratio: +53%