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Merck & Co Inc (MRK)

割安
HealthcareDrug Manufacturers - GeneralUnited States

ファンダメンタル

58

株価

$145.31

時価総額

$366.84B

パート1 · 企業の価値

概要

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands. It has development and commercialization agreement for three of Daiichi Sankyo's deruxtecan ADC candidates; AstraZeneca PLC to co-development and co-commercialize AstraZeneca's Lynparza products for multiple cancer types; licensed to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova; and collaboration agreement with Eisai Co., Ltd., Bayer AG, and Ridgeback Biotherapeutics LP, as well Moderna, Inc. Merck & Co., Inc. has strategic collaboration with Infinimmune, Inc. to discover and develop antibodies against multiple therapeutic targets. The company was founded in 1891 and is headquartered in Rahway, New Jersey.

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Direct competitors

Who this company fights with for the same customers

Compare

Generated on 2026年9月19日 with claude-haiku-4-5 — shared with all users

P/E: 13.7Score: 73Market cap: $130.49B

Its PD-1 inhibitor Opdivo competes head-to-head with Keytruda for the same oncologists and the same lung, melanoma and kidney cancer patients.

P/E: 24.6Score: 70Market cap: $255.21B

Imfinzi and its wider oncology portfolio compete with Keytruda in lung, bladder and liver cancer, in the same hospital formularies worldwide.

P/E: 37.5Score: 74Market cap: $163.69B

Its Prevnar franchise is the direct rival of Merck's Capvaxive and Vaxneuvance for adult pneumococcal vaccination, and the two also compete across oncology.

P/E: 30.7Score: 68Market cap: $655.37B

Its Innovative Medicine arm competes with Merck across oncology and immunology branded drugs sold to the same payers and prescribers.

F. Hoffmann-La Roche AGROG

Tecentriq and Roche's broad cancer-drug portfolio target the same immuno-oncology indications and the same reimbursement budgets as Merck's.

GSK plcGSK

Competes with Merck in adult and adolescent vaccines — including HPV and shingles — selling to the same public health buyers and pharmacy channels.

貸借対照表と流動性

売上高

$66.57B

直近12か月(2026/6/30まで)

純利益

$3.17B

直近12か月(2026/6/30まで)

フリーキャッシュフロー

$12.36B

自己資本合計

$52.61B

負債合計

$84.20B

流動比率

1.32

利払い倍率

-

負債/EBITDA

1.87

一株当たり利益(EPS)

売上高と純利益

フリーキャッシュフロー

収益内訳

財務推移表

利益率の推移

負債の推移

負債の重さ

成長率グリッド

成長率 — 売上高

適正価値の推定

一般的なケース割安

適正価値

$203.32

現在株価

$145.31

安全マージン

+28.5%

適正価値レンジ

$132.16 - $274.48

使用した評価手法間のばらつきであり、統計的に較正された信頼区間ではありません。

推定方法

アナリストの目標株価:$153.65
ディスカウンテッド・キャッシュフロー(DCF):$391.61
利益倍率(P/E):$24.54
グレアムの成長公式:$56.06
収益力価値(EPV):$25.50
正当化されたP/B:$14.43
配当割引モデル(ゴードン):$77.78
P/FFO(運用から生まれる資金):算出に必要なデータが不足しています
中間サイクル利益:算出に必要なデータが不足しています
売上高倍率:$106.18
アナリスト・コンセンサス:買い (26B / 10H / 0S)
直近の決算サプライズ:+52.33%

バリュエーション指標

P/E レシオ

116.25

ROE

34.7%

P/B レシオ

8.55

P/FCF

22.32

粗利益率

73.0%

ROIC

-

収益性レーダー

価値創造(経済的モート)

ROIC

-

WACC

7.2%

ROIC − WACC

-

ファンダメンタル分析基準

合格(16)

  • EPS shows upward trend
  • EPS CAGR 9.21%
  • Price CAGR 9.87%
  • Gross Margin 73.0%
  • P/FCF 22.32
  • Debt/Equity ratio
  • Positive Free Cash Flow
  • CapEx intensity
  • Current Ratio
  • Debt/EBITDA
  • Return on Tangible Assets
  • Revenue Growth 5Y 9.4%
  • Analyst Consensus 72% Buy
  • Earnings Surprise avg 21.1%
  • Earnings Quality (OCF/NI) 6.29
  • Share Dilution -1.3%

不合格(8)

  • P/B Ratio 8.55
  • Low reliance on intangibles
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • ROE 6.6%
  • PEG Ratio 5.45
  • Net Margin Trend 4.8% vs 25.8%
  • Piotroski F-Score 4/9

データなし(4)

  • ROIC NaN%
  • Dividend Payout NaN%
  • Operating Margin NaN%
  • Interest Coverage

Piotroski F-スコア

4/9

まちまちのシグナル:一部の領域に注意が必要

score
criteria

利益の質

6.29

高品質:利益はキャッシュに裏付けられている

株式希薄化

-1.3%

株式を買い戻している。株主に友好的

機関投資家の保有

ガバナンス

経営陣

氏名役職年齢
Mr. Robert M. Davis J.D.Chairman, President & CEO58
Ms. Caroline A. LitchfieldExecutive VP & CFO56
Ms. Jennifer L. Zachary J.D.Executive VP & General Counsel47
Dr. Dean Y. Li M.D., Ph.D.Executive VP & President of Merck Research Laboratories62
Mr. Dalton E. Smart IIISenior VP of Finance, Principal Accounting Officer & Global Controller58
Mr. Gaurav K. GuptaExecutive Vice President and Chief Information & Digital Officer-
Mr. Peter DannenbaumVice President of Investor Relations-
Mr. Chirfi GuindoExecutive Vice President of Strategic Access, Policy & Communications59
Ms. Betty D. LarsonExecutive VP & Chief Human Resources Officer49
Mr. Richard R. DeLuca Jr.Executive VP & President of Merck Animal Health62

監査リスク

7

取締役会リスク

7

報酬リスク

3

株主権利リスク

2

パート2 · 株価と買い時

この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。

書類

  • 年次報告書(10-K)

    事業内容、財務実績、リスクをまとめた年次の概要。

    提出日: 2026-02-24

    書類を見る
  • 四半期報告書(10-Q)

    直近3か月間の業績に関する最新情報。

    提出日: 2026-08-07

    書類を見る
  • 臨時報告書(8-K)

    経営陣の交代や重要な発表など、大きな出来事に関するお知らせ。

    提出日: 2026-08-04

    書類を見る

via SEC EDGAR

業績推移

via SEC EDGAR

Latest News

Recent headlines for MRK, sourced from Markets Gazette.

  • 3d agoPOSITIVE
    Merck, accordo di licenza da oltre 2 miliardi di dollari con SciBrunch Therapeutics

    Merck has entered into a licensing agreement with SciBrunch Therapeutics for a potential oncology treatment. The deal could be worth over $2 billion, signaling Merck's strategic investment in expanding its cancer drug pipeline. This move aims to bolster Merck's position in the competitive oncology market by acquiring promising early-stage assets. Investors will be watching the clinical development closely, as successful progression could lead to significant future revenue streams and enhance Merck's long-term growth prospects.

  • 8/20/2026POSITIVE
    Moderna limita i rialzi, ma le azioni Merck restano da comprare

    Merck & Co. (MRK) shares are positioned for a rally to $179 in the coming months, according to Morgan Stanley analyst Terence Flynn. This optimism stems from the strong performance of a combination therapy involving Merck's Keytruda and Moderna's (MRNA) experimental cancer drug in a late-stage trial. The trial demonstrated efficacy in high-risk melanoma patients, a significant breakthrough. Morgan Stanley's bullish stance, reiterated in a research note dated August 20th, highlights the potential for Merck's stock to continue its upward trajectory, building on recent positive developments in its oncology pipeline.

  • 8/19/2026POSITIVE
    Merck, Moderna Melanoma Vaccine Study Succeeds

    Merck and Moderna have reported encouraging outcomes from a Phase 3 trial for their collaborative personalized mRNA melanoma vaccine. The study demonstrated a substantial reduction in the recurrence rate of melanoma, the most aggressive skin cancer. This success in a late-stage trial suggests a promising new therapeutic avenue for Merck, potentially bolstering its oncology pipeline and future revenue streams. Investors will be watching for regulatory filings and potential market launch timelines, which could significantly impact the company's valuation.

  • 5/18/2026NEUTRAL
    Merck Eyes $6 Billion in Seven-Part Bond Sale for Terns Deal

    Merck & Co. is planning a significant debt offering, aiming to raise approximately $6 billion through a seven-part bond sale. This move is primarily intended to fund its acquisition of Terns Pharmaceuticals Inc. The bond sale is structured for investment-grade investors, indicating Merck's strong credit profile. While the acquisition itself may signal strategic growth, the bond issuance represents a financing activity that does not inherently boost or detract from the company's immediate stock value, thus maintaining a neutral short-term outlook for investors.

  • 4/21/2026NEGATIVE
    Why Is Merck Stock Falling Tuesday?

    Merck & Co., Inc. stock experienced a significant downturn on Tuesday following the announcement that its Phase 3 LITESPARK-012 trial for advanced renal cell carcinoma did not meet its primary endpoints. This clinical trial failure represents a major setback for the company's oncology pipeline and future revenue projections. Investors are reacting negatively to the news, as the drug candidate was seen as a key growth driver. The lack of positive trial results will likely lead to downward revisions in earnings estimates and could impact the stock's valuation.

  • 4/7/2026NEGATIVE
    Merck Lowered Terns Pharmaceuticals Offer Price After Trial Data Review

    Merck & Co. has lowered its offer price for Terns Pharmaceuticals following a review of TERN-701 trial data. While Merck maintains its strategic interest in Terns, particularly concerning its potential in Chronic Myeloid Leukemia (CML) treatments and amid ongoing competition, the price adjustment signals a potential recalibration of the deal's valuation based on new clinical insights. Investors will monitor how this revised offer impacts the finalization of the acquisition and Merck's competitive positioning in the oncology space.

  • 4/1/2026POSITIVE
    Merck Locks Infinimmune Alliance To Chase Next-Gen Antibody Drugs

    Merck has entered into a strategic alliance with Infinimmune to leverage the latter's Anthrobody platform for the development of next-generation antibody drugs. This collaboration aims to harness human-derived antibodies, potentially leading to more effective and targeted therapeutics. The partnership signifies Merck's commitment to innovation in its biologics pipeline and its pursuit of novel drug discovery technologies. Investors will be watching for clinical trial progress and the potential for breakthrough treatments stemming from this alliance.

  • 3/25/2026POSITIVE
    Merck to Buy Terns for $6.7B to Grow in Blood Cancers

    Merck & Co. has announced a definitive agreement to acquire Terns Pharmaceuticals for $6.7 billion. This strategic move aims to bolster Merck's oncology portfolio by integrating Terns' promising leukemia treatment pipeline. The acquisition is particularly significant as Merck faces the upcoming patent expiration of its top-selling cancer drug, Keytruda. Investors will be watching how this integration impacts Merck's future revenue streams and its competitive position in the lucrative blood cancer market.

via Markets Gazette