` Comparison: MERK, JNJ - Alpha Spread

MERK
vs
JNJ

Over the past 12 months, MERK has underperformed JNJ, delivering a return of -5% compared to the JNJ's +40% growth.

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MERK
JNJ
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Valuation Comparison

MERK Intrinsic Value
4 508.04 IDR
Undervaluation 26%
Intrinsic Value
Price
JNJ Intrinsic Value
176.25 USD
Overvaluation 14%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
Merck Tbk PT
IDX:MERK
3 320 IDR
Johnson & Johnson
NYSE:JNJ
204.31 USD
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Valuation Scenario:
Bear Case
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Growth Comparison

Growth Over Time
MERK, JNJ

MERK
JNJ
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
Merck Tbk PT
Revenue
Johnson & Johnson
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
MERK, JNJ

MERK
JNJ
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
Merck Tbk PT
IDX:MERK
Johnson & Johnson
NYSE:JNJ
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What is Free Cash Flow?

Gross Margin

MERK
40.2%
JNJ
68.1%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

Operating Margin

MERK
20.6%
JNJ
27%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

Net Margin

MERK
16.3%
JNJ
27.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

FCF Margin

MERK
16.7%
JNJ
21.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

ROE

MERK
22.8%
JNJ
33.3%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

ROA

MERK
18.7%
JNJ
13.4%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

ROIC

MERK
22.9%
JNJ
12.7%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

ROCE

MERK
27.4%
JNJ
18.5%
LTM 3Y Avg 5Y Avg 10Y Avg
Merck Tbk PT
Johnson & Johnson

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
MERK, JNJ

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Performance Gap
MERK, JNJ

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MERK
JNJ
Difference
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Performance By Year
MERK, JNJ

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MERK
JNJ
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