MRK.DE · GER DAX

Merck KGaA

Healthcare · Drug Manufacturers - Specialty & Generic

€150.60 +€1.25 (+0.84%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 14 analysts

Buy

Median price target €156.00 +3.6%

Open: €149.30
Day range: 149.30 – €150.95
52-week range: 100.70 – €152.10
Volume: 38,883
Market cap: €65,478M
P/E (TTM): 27.6x
EPS (TTM): €5.46
EPS est. 2026: €8.53
P/E est. 2026: 17.7x
Dividend yield: 1.5%
Beta: 0.81
Payout: 40%

Merck financials

Q2 2026 results, quarter ended Jun 30, 2026

Metric	Q2 2026	1-year change
Total revenue	€5,434M	+3.4%
Net income	€490M	−24.8%
Earnings per share	€1.13	−24.7%
Net margin	9.0%	−3.4 pp
Free cash flow	€285M	+131.7%
Debt / equity	0.41	+22.5%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q2 2025	€5,255M	€652M
Q3 2025	€5,318M	€902M
Q4 2025	€5,249M	€319M
Q1 2026	€5,134M	€659M
Q2 2026	€5,434M	€490M

Merck earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ3 2026 · Analysts: 6	€2.1972.14 – 2.22	−5.3%€2.320
Next quarterQ4 2026 · Analysts: 2	€2.0612.05 – 2.07	+9.6%€1.880
Current year2026 · Analysts: 13	€8.5268.34 – 9.03	+2.2%€8.340
Next year2027 · Analysts: 13	€9.0898.53 – 9.82	+6.6%€8.526

Forward P/E: 17.7x (2026) and 16.6x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q2 2025	€1.500	—
Q3 2025	€2.320	€2.198
Q4 2025	€1.880	€1.940
Q1 2026	€1.520	€1.923
Q2 2026	€2.160	€2.051
Q3 2026	—	€2.197
Q4 2026	—	€2.061

Year	Actual EPS	Estimated EPS
2022	€7.650	—
2023	€6.490	—
2024	€6.390	—
2025	€6.000	—
2026	—	€8.526
2027	—	€9.089

EPS trend

Quarter	EPS	YoY change
Q4 2026Estimated	€2.061	+9.6%
Q3 2026Estimated	€2.197	−5.3%
Q2 2026	€2.160est. €2.051 · surprise +5.3%	+44.0%
Q1 2026	€1.520est. €1.923	n/a
Q4 2025	€1.880est. €1.940 · surprise −3.1%	n/a
Q3 2025	€2.320est. €2.198 · surprise +5.6%	n/a
Q2 2025	€1.500	n/a

Year	EPS	Annual change
2027Estimated	€9.089	+6.6%
2026Estimated	€8.526	+42.1%
2025	€6.000	−6.1%
2024	€6.390	−1.5%
2023	€6.490	−15.2%
2022	€7.650	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Merck dividend

Yield and payments

Dividend yield (TTM)	1.5%
Forward yield (next 12m)	1.5%
Dividend per share (TTM)	€2.20
Forward dividend (next 12m)	€2.20
Payout (TTM)	40%
Last dividend	€2.20Apr 27, 2026
Next ex-dividend date	n/a

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€1.25
2020	€1.30
2021	€1.40
2022	€1.85
2023	€2.20
2024	€2.20
2025	€2.20
est. 12m	€2.20

Merck forecasts

14 analyst ratings

Buy50% Hold50% Sell0%

Consensus: Buy · 7 buy, 7 hold, 0 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€179.00	+18.9%
Median	€156.00	+3.6%
Low	€135.00	−10.4%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€116.00
Dec 30, 2025	€122.60
Jan 30, 2026	€125.55
Feb 27, 2026	€128.30
Mar 31, 2026	€107.60
Apr 30, 2026	€110.05
May 29, 2026	€130.85
Jun 30, 2026	€146.85
Jul 31, 2026	€143.15
Aug 31, 2026	€139.00
Sep 30, 2026	€138.10
Oct 30, 2026	€151.30
Nov 11, 2026	€150.60

Merck peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
MRK.DE	Merck	65,478	27.6x	150.60	+0.84%	100.70152.10
ROVI.MC	Rovi	3,590	17.5x	70.20	+1.15%	53.1086.70
ZTS	Zoetis	33,505	14.0x	82.46 $	+0.17%	68.77132.49
VTRS	Viatris	23,904	n/a	20.85 $	+1.76%	10.1520.86
SAN.PA	Sanofi	102,686	24.8x	85.71	−0.28%	69.7590.79
EL.PA	EssilorLuxottica	83,585	34.1x	182.35	−2.80%	138.30323.80

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