Merck & Co (MRK) valuation
Merck P/E ratio history
Merck trades at 119.6 times its earnings over the last twelve months and 25.0 times the earnings analysts expect over the next twelve. At its last 9 fiscal year ends its P/E ranged from 14.5 (year to Dec 2025) to 64.7 (year to Dec 2017), with a median of 23.9.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Dec 31, 2025 | $105.26 | $7.28 | 14.5 | 12.2 |
| Dec 31, 2024 | $99.48 | $6.74 | 14.8 | 11.1 |
| Dec 31, 2023 | $109.02 | $0.14 | n/m | — |
| Dec 31, 2022 | $110.95 | $5.71 | 19.4 | 14.8 |
| Dec 31, 2021 | $76.64 | $5.14 | 14.9 | 11.2 |
| Dec 31, 2020 | $78.05 | $2.65 | 29.4 | — |
| Dec 31, 2019 | $86.78 | $3.64 | 23.9 | — |
| Dec 31, 2018 | $72.91 | $2.21 | 32.9 | — |
| Dec 31, 2017 | $53.69 | $0.83 | 64.7 | — |
| Dec 31, 2016 | $56.17 | $1.35 | 41.8 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Merck valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| MerckMRK | $369B | 119.6 | 25.0 | 5.6 |
| Johnson & JohnsonJNJ | $658B | 41.5 | 23.8 | 6.6 |
| Novo NordiskNVO | $178B | 9.9 | — | 3.5 |
| PfizerPFE | $174B | 40.2 | 10.5 | 2.7 |
| Bristol Myers SquibbBMY | $128B | 13.8 | 9.5 | 2.6 |
| Eli LillyLLY | $1.33T | 46.0 | 31.0 | 15.4 |
| ZoetisZTS | $33.4B | 13.0 | 12.6 | 3.5 |
| ViatrisVTRS | $22.2B | — | 7.3 | 1.5 |
| Corcept TherapeuticsCORT | $8.71B | 193.1 | 25.7 | 10.5 |
| Peer median | 40.2 | 12.6 | 3.5 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: MRK financials · MRK returns
No forecast, no recommendation. This page describes Merck & Co from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.