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Merck & Co Inc (MRK)

被低估
HealthcareDrug Manufacturers - GeneralUnited States

基本面

58

价格

$144.21

市值

$366.84B

第一部分 · 这家公司值多少

概览

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.

No editorial profile for this company yet

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: 72Market 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: 61Market 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: 72Market 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: 63Market 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.

资产负债表与流动性

营收

$66.57B

最近12个月(截至2026/6/30)

净利润

$3.17B

最近12个月(截至2026/6/30)

自由现金流

$12.36B

股东权益合计

$52.61B

负债合计

$84.20B

流动比率

1.32

利息覆盖率

-

债务/EBITDA

1.87

每股收益

营收与净利润

自由现金流

收入构成

历史财务表

利润率变化

债务变化

债务负担有多重

增长一览表

增长 — 营业收入

公允价值估算

一般情形被低估

公允价值

$203.32

当前价格

$144.21

安全边际

+29.1%

公允价值区间

$132.16 - $274.48

所用估值方法之间的离散区间,并非经过统计校准的置信区间。

估算方法

分析师目标价:$153.65
现金流折现法(DCF):$391.61
市盈率法(P/E):$24.54
格雷厄姆成长公式:$56.06
盈利能力价值(EPV):$25.50
合理市净率(P/B):$14.43
股息折现模型(戈登模型):$77.78
P/FFO(运营资金):数据不足,无法计算
周期中段收益:数据不足,无法计算
市销率法(P/S):$106.18
分析师共识:买入 (26B / 10H / 0S)
最近财报超预期:+52.33%

估值指标

市盈率(P/E)

116.25

ROE

34.7%

市净率(P/B)

8.55

P/FCF

22.32

毛利率

73.0%

ROIC

-

盈利能力雷达图

价值创造(经济护城河)

ROIC

-

WACC

7.2%

ROIC − WACC

-

基本面分析标准

通过(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%

未通过(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

不可用(4)

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

Piotroski F-评分

4/9

信号混杂:部分领域需关注

score
criteria

盈利质量

6.29

高质量:盈利有现金流支撑

股权稀释

-1.3%

正在回购股份,对股东友好

机构持股

公司治理

管理团队

姓名职位年龄
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

审计风险

7

董事会风险

7

薪酬风险

3

股东权利风险

2

第二部分 · 价格与买入时机

这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。

文件

  • 年度报告(10-K)

    对公司业务、财务业绩和风险的年度概述。

    提交日期:2026-02-24

    查看文件
  • 季度报告(10-Q)

    最近三个月财务表现的最新情况。

    提交日期:2026-08-07

    查看文件
  • 临时报告(8-K)

    关于重大事件(如管理层变动或重要公告)的通知。

    提交日期:2026-08-04

    查看文件

via SEC EDGAR

损益历史

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