Want to see DE:MRK full AI Analyst Report?
Top Page
Merck KGaA
(XETRA:MRK)
Select Model
Select Model
Rating:63Neutral
Price Target:
€145.00
▲(4.05% Upside)
Action:Downgraded
Date:08/17/26
The score is primarily supported by solid underlying financial performance (healthy margins and manageable leverage), but is held back by uneven growth, softer recent earnings and only moderate cash conversion. Technicals also weigh on the rating, with the stock trading below key short-term moving averages and weak momentum indicators. Valuation is neutral-to-slightly negative given a ~25 P/E with only a modest dividend yield.
Positive Factors
Diversified Science and Technology Platform
Three complementary businesses diversify revenue across healthcare, bioprocessing, research tools, semiconductors, and electronics. Life Science consumables and qualification-based relationships can support recurring demand and reduce reliance on one end market.
Negative Factors
Uneven Revenue Growth
Flat revenue over multiple annual periods indicates that the company has not yet established a consistently compounding top line. The sharp TTM rebound is encouraging, but its durability remains uncertain across cyclical end markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Science and Technology Platform
Three complementary businesses diversify revenue across healthcare, bioprocessing, research tools, semiconductors, and electronics. Life Science consumables and qualification-based relationships can support recurring demand and reduce reliance on one end market.
Read all positive factors
Merck KGaA (MRK) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€60.59B
Dividend Yield1.59%
Average Volume (3M)321.00K
Price to Earnings (P/E)25.4
Beta (1Y)1.00
Revenue Growth-0.40%
EPS Growth-17.22%
CountryDE
Employees62,136
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)5.45
Shares Outstanding129,242,250
10 Day Avg. Volume344,164
30 Day Avg. Volume321,004
Financial Highlights & Ratios
PEG Ratio-3.35
Price to Book (P/B)1.86
Price to Sales (P/S)2.53
P/FCF Ratio22.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€146.00Price Target Upside4.77% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)8.34
Revenue Forecast (FY)€21.43B
Merck KGaA Business Overview & Revenue Model
Company 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 in...
How the Company Makes Money
Merck KGaA generates revenue primarily by selling products and services across its three business sectors. In Healthcare, it earns money from the sale of pharmaceutical products (including certain brands marketed by the company and, in some geogra...
Merck KGaA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.14B | 21.10B | 21.16B | 20.99B | 22.23B | 19.69B |
| Gross Profit | 12.40B | 11.89B | 11.95B | 11.67B | 12.84B | 11.60B |
| EBITDA | 6.34B | 5.45B | 5.55B | 5.52B | 6.28B | 5.88B |
| Net Income | 2.37B | 2.61B | 2.78B | 2.82B | 3.33B | 3.06B |
Balance Sheet | ||||||
| Total Assets | 52.69B | 52.10B | 51.57B | 48.49B | 48.53B | 45.36B |
| Cash, Cash Equivalents and Short-Term Investments | 1.96B | 2.92B | 2.71B | 2.41B | 1.64B | 1.62B |
| Total Debt | 12.30B | 11.97B | 10.27B | 9.94B | 10.40B | 10.77B |
| Total Liabilities | 22.40B | 23.44B | 21.58B | 21.74B | 22.52B | 23.95B |
| Stockholders Equity | 30.17B | 28.59B | 29.91B | 26.68B | 25.93B | 21.34B |
Cash Flow | ||||||
| Free Cash Flow | 2.64B | 2.35B | 2.40B | 1.76B | 2.45B | 3.19B |
| Operating Cash Flow | 4.23B | 3.93B | 4.59B | 3.78B | 4.26B | 4.62B |
| Investing Cash Flow | -5.06B | -4.26B | -3.05B | -1.89B | -2.74B | -1.58B |
| Financing Cash Flow | 1.65B | 628.00M | -985.00M | -1.73B | -1.55B | -2.50B |
Merck KGaA Technical Analysis
Positive
139.35
Price Trends
140.43
Negative
130.84
Positive
123.90
Positive
Market Momentum
-0.57
Positive
46.89
Neutral
67.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:MRK, the sentiment is Positive. The current price of 139.35 is below the 20-day moving average (MA) of 140.59, below the 50-day MA of 140.43, and above the 200-day MA of 123.90, indicating a neutral trend. The MACD of -0.57 indicates Positive momentum. The RSI at 46.89 is Neutral, neither overbought nor oversold. The STOCH value of 67.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:MRK.
Merck KGaA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €44.30B | 19.83 | 12.00% | 2.85% | -0.92% | 2.06% | |
66 Neutral | €25.56B | 16.85 | 7.89% | 2.40% | 5.30% | 35.29% | |
65 Neutral | €15.26B | 86.36 | 6.28% | 0.42% | 3.29% | 88.34% | |
65 Neutral | €2.08B | 14.46 | 21.44% | 2.18% | 0.39% | 38.58% | |
63 Neutral | €60.59B | 25.44 | 8.08% | 1.58% | -0.40% | -17.22% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
41 Neutral | €578.10M | -3.03 | -26.46% | ― | -7.72% | -26.61% |
* General Sector Average
DE:MRK
Merck KGaA
140.10
34.66
32.88%
DE:EVT
Evotec
3.38
-2.61
-43.58%
DE:FRE
Fresenius SE & Co. KGaA
46.20
1.10
2.43%
DE:SRT
Sartorius
195.80
35.70
22.29%
DE:DMP
Dermapharm Holding SE
40.10
7.71
23.81%
DE:SHL
Siemens Healthineers AG
39.26
-7.00
-15.13%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.