This is the standing evidence sheet for Merck & Co (MRK): the yardsticks BullScope computes from official SEC filings and market prices. It refreshes whenever a new edition of our research is published, and it is impersonal by design, every reader sees the same page. Nothing here is investment advice; it is the evidence, organized.
The price tag: what buyers pay per dollar of profit
Today the market pays about $20.3 for each $1 of Merck & Co’s annual profit (a price-to-earnings ratio of 20.3). Across its own past decade the typical price tag was 19.3, which puts today at roughly the 56th percentile of the company’s own history.
The tape: what the stock itself has done
- Last price: $150.33 (end-of-day market data as of the edition date · methodology) · 4% below its 52-week high
- Past 6 months: +29.8% · past 12 months: +78.9%
- Day-to-day temperament: jumpy (annualized volatility 30%)
The filed record: straight from the annual reports
| Fiscal year | Revenue | Growth | Operating margin | EPS |
|---|---|---|---|---|
| FY2021 | $48.7B | +1.5% | 28.5% | $5.14 |
| FY2022 | $59.3B | +21.7% | 27.7% | $5.71 |
| FY2023 | $60.1B | +1.4% | 3.1% | $0.14 |
| FY2024 | $64.2B | +6.7% | 31.1% | $6.74 |
| FY2025 | $65.0B | +1.3% | 32.4% | $7.28 |
The road ahead: filed results vs published expectations
| FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | |
|---|---|---|---|---|---|---|
| Net sales ($B) | 60.1 | 64.2 | 65.0 | 67.0 to 69.5 | 68.5 to 74.0 | 64.0 to 76.0 |
| Net sales growth (%) | – | +6.8 | +1.2 | 3.0 to 7.0 | 2.0 to 7.0 | -3.0 |
| Operating margin (%) | 3.2 | 31.0 | 32.4 | 30.5 to 33.5 | 29.5 to 34.0 | 28.0 to 36.0 |
| GAAP Diluted EPS ($) | 0.14 | 6.74 | 7.28 | 1.38-11.38 | 6.00 to 9.00 | 5.50 to 10.50 |
| Adjusted EPS (non-GAAP, illustrative) | n/a | n/a | n/a | 8.50 to 10.50 | 9.00 to 11.50 | 8.50 to 12.50 |
Columns marked A are actual filed results; E columns are the published consensus ranges the current price is being weighed against.
The four gauges: from the latest edition
BullScope coverage of Merck & Co
- Merck Is Printing Money and Losing Money at the Same Time. Both Are True.
- Merck’s first-half collapse masks a full-year guidance problem the filing won’t answer
Read the full report on Merck & Co in the BullScope Terminal → It opens with this company loaded.
Edition date: 2026-08-14. This page updates when a new edition is published. Sources: SEC EDGAR filings, Nasdaq prices; computed by BullScope’s published methodology.
