MERCK & CO., INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 131.2 USD | +0.37% |
|
+4.31% | +20.34% |
| Apr. 26 | Wolfe Research Adjusts Price Target on Merck & Company to $151 From $141 | MT |
| Apr. 26 | Morgan Stanley Adjusts Merck & Co.'s Price Target to $132 From $128 | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 231,557 | 206,957 | 193,588 | 281,302 | 276,259 | 332,333 | - | - |
| Enterprise Value (EV) 1 | 247,453 | 230,686 | 218,594 | 298,801 | 304,221 | 351,227 | 339,853 | 326,655 |
| P/E ratio | 23.9 x | 29.4 x | 14.9 x | 19.4 x | 779 x | 16.9 x | 14.7 x | 13.5 x |
| Yield | 2.48% | 3.03% | 3.44% | 2.52% | 2.72% | 2.33% | 2.46% | 2.59% |
| Capitalization / Revenue | 4.94 x | 4.31 x | 3.97 x | 4.75 x | 4.6 x | 5.19 x | 4.85 x | 4.59 x |
| EV / Revenue | 5.28 x | 4.81 x | 4.49 x | 5.04 x | 5.06 x | 5.49 x | 4.96 x | 4.51 x |
| EV / EBITDA | 12.6 x | 11.2 x | 10.5 x | 11.3 x | 30.2 x | 11.9 x | 10.3 x | 9.24 x |
| EV / FCF | 24.8 x | 41.4 x | 25.2 x | 20.3 x | 33.3 x | 19 x | 14.8 x | 13.1 x |
| FCF Yield | 4.03% | 2.41% | 3.97% | 4.92% | 3.01% | 5.26% | 6.78% | 7.63% |
| Price to Book | 9 x | 8.18 x | 5.07 x | 6.12 x | 7.34 x | 6.44 x | 5.21 x | 4.22 x |
| Nbr of stocks (in thousands) | 2,545,984 | 2,530,034 | 2,525,944 | 2,535,396 | 2,534,023 | 2,533,028 | - | - |
| Reference price 2 | 90.95 | 81.80 | 76.64 | 111.0 | 109.0 | 131.2 | 131.2 | 131.2 |
| Announcement Date | 2/5/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 46,840 | 47,994 | 48,704 | 59,283 | 60,115 | 64,024 | 68,482 | 72,482 |
| EBITDA 1 | 19,572 | 20,570 | 20,910 | 26,431 | 10,083 | 29,506 | 33,069 | 35,354 |
| EBIT 1 | 15,920 | 16,945 | 17,696 | 22,522 | 6,211 | 26,152 | 29,552 | 32,139 |
| Operating Margin | 33.99% | 35.31% | 36.33% | 37.99% | 10.33% | 40.85% | 43.15% | 44.34% |
| Earnings before Tax (EBT) 1 | 11,464 | 8,791 | 13,879 | 16,444 | 1,889 | 24,683 | 24,369 | 28,670 |
| Net income 1 | 9,843 | 7,067 | 13,049 | 14,519 | 365 | 19,467 | 21,963 | 24,700 |
| Net margin | 21.01% | 14.72% | 26.79% | 24.49% | 0.61% | 30.41% | 32.07% | 34.08% |
| EPS 2 | 3.810 | 2.780 | 5.140 | 5.710 | 0.1400 | 7.750 | 8.896 | 9.752 |
| Free Cash Flow 1 | 9,967 | 5,569 | 8,674 | 14,707 | 9,143 | 18,476 | 23,027 | 24,938 |
| FCF margin | 21.28% | 11.6% | 17.81% | 24.81% | 15.21% | 28.86% | 33.63% | 34.41% |
| FCF Conversion (EBITDA) | 50.92% | 27.07% | 41.48% | 55.64% | 90.68% | 62.62% | 69.63% | 70.54% |
| FCF Conversion (Net income) | 101.26% | 78.8% | 66.47% | 101.29% | 2,504.93% | 94.91% | 104.84% | 100.97% |
| Dividend per Share 2 | 2.260 | 2.480 | 2.640 | 2.800 | 2.960 | 3.062 | 3.228 | 3.401 |
| Announcement Date | 2/5/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 13,154 | 13,521 | 15,901 | 14,593 | 14,959 | 13,830 | 14,487 | 15,035 | 15,962 | 14,630 | 15,775 | 15,843 | 16,681 | 15,984 | 16,565 |
| EBITDA 1 | 6,111 | 5,670 | 7,568 | 6,649 | 6,516 | 5,698 | 5,402 | -3,485 | 7,538 | 665 | 6,562 | 7,353 | 8,225 | 7,640 | - |
| EBIT 1 | 5,352 | 4,835 | 6,448 | 5,711 | 5,557 | 4,806 | 4,411 | -4,388 | 6,524 | -299 | 6,383 | 6,542 | 7,083 | 6,340 | - |
| Operating Margin | 40.69% | 35.76% | 40.55% | 39.14% | 37.15% | 34.75% | 30.45% | -29.19% | 40.87% | -2.04% | 40.46% | 41.29% | 42.46% | 39.66% | - |
| Earnings before Tax (EBT) 1 | - | - | - | - | 3,583 | 3,513 | 3,650 | -5,335 | 5,620 | -2,046 | 5,670 | 6,295 | 6,724 | 5,879 | - |
| Net income 1 | 4,567 | 3,758 | 4,310 | 3,944 | 3,248 | 3,017 | 2,821 | -5,975 | 4,745 | -1,226 | 4,762 | 5,024 | 5,537 | 4,931 | - |
| Net margin | 34.72% | 27.79% | 27.11% | 27.03% | 21.71% | 21.81% | 19.47% | -39.74% | 29.73% | -8.38% | 30.19% | 31.71% | 33.19% | 30.85% | - |
| EPS 2 | 1.800 | 1.480 | 1.700 | 1.550 | 1.280 | 1.180 | 1.110 | -2.350 | 1.860 | -0.4800 | 1.870 | 1.951 | 2.139 | 1.977 | - |
| Dividend per Share 2 | 0.6500 | 0.6900 | 0.6900 | 0.6900 | 0.6900 | 0.7300 | 0.7300 | 0.7300 | 0.7300 | 0.7700 | 0.7356 | 0.7012 | 0.7012 | 0.7012 | 0.7187 |
| Announcement Date | 10/28/21 | 2/3/22 | 4/28/22 | 7/28/22 | 10/27/22 | 2/2/23 | 4/27/23 | 8/1/23 | 10/26/23 | 2/1/24 | 4/25/24 | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 15,896 | 23,729 | 25,006 | 17,499 | 27,962 | 18,894 | 7,520 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | 5,679 |
| Leverage (Debt/EBITDA) | 0.8122 x | 1.154 x | 1.196 x | 0.6621 x | 2.773 x | 0.6403 x | 0.2274 x | - |
| Free Cash Flow 1 | 9,967 | 5,569 | 8,674 | 14,707 | 9,143 | 18,477 | 23,027 | 24,938 |
| ROE (net income / shareholders' equity) | 50.9% | 58.9% | 41.1% | 45.2% | 9.18% | 48.3% | 44% | 39.7% |
| ROA (Net income/ Total Assets) | 11.8% | 17.1% | 13.2% | 17.7% | 3.56% | 18.2% | 19.2% | 19.3% |
| Assets 1 | 83,517 | 41,231 | 98,641 | 82,070 | 10,266 | 106,732 | 114,428 | 127,738 |
| Book Value Per Share 2 | 10.10 | 10.00 | 15.10 | 18.10 | 14.80 | 20.40 | 25.20 | 31.10 |
| Cash Flow per Share 2 | 5.210 | 4.040 | 5.170 | 7.510 | 5.110 | 11.00 | 11.50 | 12.20 |
| Capex 1 | 3,473 | 4,684 | 4,448 | 4,388 | 3,863 | 3,708 | 3,922 | 3,922 |
| Capex / Sales | 7.41% | 9.76% | 9.13% | 7.4% | 6.43% | 5.79% | 5.73% | 5.41% |
| Announcement Date | 2/5/20 | 2/4/21 | 2/3/22 | 2/2/23 | 2/1/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
BUY
Number of Analysts
29
Last Close Price
131.2
USD
Average target price
140.1
USD
Spread / Average Target
+6.80%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +20.34% | 332B | |
| +25.83% | 661B | |
| +27.00% | 566B | |
| -6.76% | 352B | |
| +3.00% | 283B | |
| +13.09% | 231B | |
| +5.46% | 200B | |
| -9.61% | 195B | |
| -6.26% | 145B | |
| -11.77% | 144B |
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- Financials Merck & Co., Inc.
