Merck KGaA
MIL:MRK

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Merck KGaA
MIL:MRK
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Price: 158.25 EUR Market Closed
Market Cap: 68.8B EUR

Relative Value

The Relative Value of one MRK stock under the Base Case scenario is 209.92 EUR. Compared to the current market price of 158.25 EUR, Merck KGaA is Undervalued by 25%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

MRK Relative Value
Base Case
209.92 EUR
Undervaluation 25%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
82
vs Industry
42
Median 3Y
3.1
Median 5Y
3.3
Industry
2.7
Forward
2.6
vs History
84
vs Industry
22
Median 3Y
22.6
Median 5Y
23.5
Industry
21.6
Forward
15.3
vs History
76
vs Industry
31
Median 3Y
16.3
Median 5Y
16.6
Industry
16.9
vs History
92
vs Industry
20
Median 3Y
41.6
Median 5Y
50.5
Industry
22.9
vs History
82
vs Industry
38
Median 3Y
2.4
Median 5Y
2.6
Industry
2.3
vs History
80
vs Industry
39
Median 3Y
3.4
Median 5Y
3.6
Industry
3
Forward
3
vs History
80
vs Industry
40
Median 3Y
5.7
Median 5Y
5.9
Industry
5.6
vs History
77
vs Industry
31
Median 3Y
11.8
Median 5Y
12.7
Industry
13.4
Forward
10.5
vs History
76
vs Industry
24
Median 3Y
17.7
Median 5Y
18.7
Industry
16.7
Forward
14.3
vs History
71
vs Industry
30
Median 3Y
18.1
Median 5Y
18.5
Industry
16.1
vs History
44
vs Industry
17
Median 3Y
33.8
Median 5Y
32.1
Industry
18.9
vs History
84
vs Industry
46
Median 3Y
1.7
Median 5Y
1.7
Industry
2

Multiples Across Competitors

MRK Competitors Multiples
Merck KGaA Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
DE
Merck KGaA
MIL:MRK
56.4B EUR 2.7 19.1 10.9 16.2
US
Eli Lilly and Co
NYSE:LLY
982.7B USD 16.5 53.4 35.8 38.4
UK
Dechra Pharmaceuticals PLC
LSE:DPH
440.4B GBP 578.3 -15 783.5 3 846.3 17 702.3
US
Johnson & Johnson
NYSE:JNJ
528.3B USD 5.7 21 17.2 22.3
CH
Roche Holding AG
SIX:ROG
276B CHF 4.5 29.3 12.4 14.5
UK
AstraZeneca PLC
LSE:AZN
218.7B GBP 5 31.1 108.4 158.7
CH
Novartis AG
SIX:NOVN
220B CHF 4.9 19 12 15.6
US
Merck & Co Inc
NYSE:MRK
273.7B USD 4.3 14.4 10.2 12.1
DK
Novo Nordisk A/S
CSE:NOVO B
1.7T DKK 5.4 16.3 11.4 13.2
IE
Endo International PLC
LSE:0Y5F
213.9B USD 92.2 -73.2 338.7 849.2
US
Pfizer Inc
NYSE:PFE
146.1B USD 2.3 14.9 7.5 10.3
P/E Multiple
Earnings Growth PEG
DE
Merck KGaA
MIL:MRK
Average P/E: 24.3
19.1
12%
1.6
US
Eli Lilly and Co
NYSE:LLY
53.4
54%
1
UK
Dechra Pharmaceuticals PLC
LSE:DPH
Negative Multiple: -15 783.5 N/A N/A
US
Johnson & Johnson
NYSE:JNJ
21
29%
0.7
CH
Roche Holding AG
SIX:ROG
29.3
29%
1
UK
AstraZeneca PLC
LSE:AZN
31.1
37%
0.8
CH
Novartis AG
SIX:NOVN
19
17%
1.1
US
Merck & Co Inc
NYSE:MRK
14.4
15%
1
DK
Novo Nordisk A/S
CSE:NOVO B
16.3
3%
5.4
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -73.2 N/A N/A
US
Pfizer Inc
NYSE:PFE
14.9
27%
0.6
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
DE
Merck KGaA
MIL:MRK
Average EV/EBITDA: 401
10.9
0%
N/A
US
Eli Lilly and Co
NYSE:LLY
35.8
34%
1.1
UK
Dechra Pharmaceuticals PLC
LSE:DPH
3 846.3
36%
106.8
US
Johnson & Johnson
NYSE:JNJ
17.2
9%
1.9
CH
Roche Holding AG
SIX:ROG
12.4
5%
2.5
UK
AstraZeneca PLC
LSE:AZN
108.4
10%
10.8
CH
Novartis AG
SIX:NOVN
12
6%
2
US
Merck & Co Inc
NYSE:MRK
10.2
6%
1.7
DK
Novo Nordisk A/S
CSE:NOVO B
11.4
1%
11.4
IE
E
Endo International PLC
LSE:0Y5F
338.7
N/A N/A
US
Pfizer Inc
NYSE:PFE
7.5
0%
N/A
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DE
Merck KGaA
MIL:MRK
Average EV/EBIT: 1 713.9
16.2
3%
5.4
US
Eli Lilly and Co
NYSE:LLY
38.4
36%
1.1
UK
Dechra Pharmaceuticals PLC
LSE:DPH
17 702.3
98%
180.6
US
Johnson & Johnson
NYSE:JNJ
22.3
15%
1.5
CH
Roche Holding AG
SIX:ROG
14.5
6%
2.4
UK
AstraZeneca PLC
LSE:AZN
158.7
23%
6.9
CH
Novartis AG
SIX:NOVN
15.6
12%
1.3
US
Merck & Co Inc
NYSE:MRK
12.1
8%
1.5
DK
Novo Nordisk A/S
CSE:NOVO B
13.2
0%
N/A
IE
E
Endo International PLC
LSE:0Y5F
849.2
N/A N/A
US
Pfizer Inc
NYSE:PFE
10.3
7%
1.5