Merck KGaA
XETRA:MRK

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Merck KGaA
XETRA:MRK
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Price: 123.35 EUR
Market Cap: 53.6B EUR
Section:
Relative Value
Relative Value
Valuation Multiples
Multiples Across Competitors
See Also

Relative Value

The Relative Value of one MRK stock under the Base Case scenario is 180.84 EUR. Compared to the current market price of 123.35 EUR, Merck KGaA is Undervalued by 32%.

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
180.84 EUR
Undervaluation 32%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

2.5
P/S
P/S
Price to Sales
2.5
vs History
95
vs Industry
42
Median 3Y
3.2
Median 5Y
3.3
Industry
2.4
Forward
2.4
More Details
19.4
P/E
P/E
Price to Earnings
19.4
vs History
96
vs Industry
22
Median 3Y
22.9
Median 5Y
24.2
Industry
20.5
Forward
13.2
More Details
11.7
P/OCF
P/OCF
Price to OCF
11.7
vs History
96
vs Industry
31
Median 3Y
17.2
Median 5Y
16.9
Industry
15.6
More Details
21.9
P/FCFE
P/FCFE
Price to FCFE
21.9
vs History
87
vs Industry
20
Median 3Y
40.7
Median 5Y
41.6
Industry
23.1
More Details
1.8
P/B
P/B
Price to Book Value
1.8
vs History
96
vs Industry
38
Median 3Y
2.5
Median 5Y
2.7
Industry
2
More Details
2.7
EV/S
EV/S
Enterprise Value to Sales
2.7
vs History
95
vs Industry
39
Median 3Y
3.6
Median 5Y
3.6
Industry
2.5
Forward
2.6
More Details
4.6
EV/GP
EV/GP
Enterprise Value to Gross Profit
4.6
vs History
95
vs Industry
40
Median 3Y
5.9
Median 5Y
5.9
Industry
4.9
More Details
8.9
EV/EBITDA
EV/EBITDA
Enterprise Value to EBITDA
8.9
vs History
96
vs Industry
31
Median 3Y
12.5
Median 5Y
12.8
Industry
12.3
Forward
9
More Details
13.3
EV/EBIT
EV/EBIT
Enterprise Value to EBIT
13.3
vs History
96
vs Industry
24
Median 3Y
18.1
Median 5Y
19.5
Industry
15.5
Forward
12.3
More Details
12.6
EV/OCF
EV/OCF
Enterprise Value to OCF
12.6
vs History
96
vs Industry
30
Median 3Y
18.7
Median 5Y
19
Industry
14.1
More Details
24.1
EV/FCFF
EV/FCFF
Enterprise Value to FCFF
24.1
vs History
96
vs Industry
17
Median 3Y
33.8
Median 5Y
33.2
Industry
17.5
More Details
1.3
EV/IC
EV/IC
Enterprise Value to IC
1.3
vs History
95
vs Industry
46
Median 3Y
1.7
Median 5Y
1.7
Industry
1.8
More Details

Multiples Across Competitors

MRK Competitors Multiples
Merck KGaA Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
Market Cap P/S P/E EV/EBITDA EV/EBIT
DE
Merck KGaA
XETRA:MRK
53.6B EUR 2.5 19.4 8.9 13.3
US
Eli Lilly and Co
NYSE:LLY
696.2B USD 14.2 62.7 33.8 36.9
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
371B USD 4.2 17 12.4 16.3
DK
Novo Nordisk A/S
CSE:NOVO B
1.9T DKK 6.6 18.9 12.5 14.2
CH
Roche Holding AG
SIX:ROG
197.2B CHF 3.3 23.8 9 10.5
CH
Novartis AG
SIX:NOVN
173.6B CHF 3.9 16.2 9.6 12.9
UK
AstraZeneca PLC
LSE:AZN
153.6B GBP 3.7 26.3 130 196.1
US
Merck & Co Inc
NYSE:MRK
191.1B USD 3 11 8.2 10
IE
Endo International PLC
LSE:0Y5F
163.5B USD 70.5 -56 261.3 655.3
FR
Sanofi SA
PAR:SAN
109.6B EUR 1.2 8.6 4.8 5.6
P/E Multiple
Earnings Growth PEG
DE
Merck KGaA
XETRA:MRK
Average P/E: 22.7
19.4
19%
1
US
Eli Lilly and Co
NYSE:LLY
62.7
49%
1.3
UK
Dechra Pharmaceuticals PLC
LSE:DPH
Negative Multiple: -15 783.5 N/A N/A
US
Johnson & Johnson
NYSE:JNJ
17
27%
0.6
DK
Novo Nordisk A/S
CSE:NOVO B
18.9
18%
1.1
CH
Roche Holding AG
SIX:ROG
23.8
32%
0.7
CH
Novartis AG
SIX:NOVN
16.2
17%
1
UK
AstraZeneca PLC
LSE:AZN
26.3
36%
0.7
US
Merck & Co Inc
NYSE:MRK
11
18%
0.6
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -56 N/A N/A
FR
Sanofi SA
PAR:SAN
8.6
28%
0.3
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
DE
Merck KGaA
XETRA:MRK
Average EV/EBITDA: 394.3
8.9
4%
2.2
US
Eli Lilly and Co
NYSE:LLY
33.8
31%
1.1
UK
Dechra Pharmaceuticals PLC
LSE:DPH
3 846.3
36%
106.8
US
Johnson & Johnson
NYSE:JNJ
12.4
8%
1.6
DK
Novo Nordisk A/S
CSE:NOVO B
12.5
14%
0.9
CH
Roche Holding AG
SIX:ROG
9
6%
1.5
CH
Novartis AG
SIX:NOVN
9.6
5%
1.9
UK
AstraZeneca PLC
LSE:AZN
130
9%
14.4
US
Merck & Co Inc
NYSE:MRK
8.2
9%
0.9
IE
E
Endo International PLC
LSE:0Y5F
261.3
N/A N/A
FR
Sanofi SA
PAR:SAN
4.8
8%
0.6
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DE
Merck KGaA
XETRA:MRK
Average EV/EBIT: 1 697.6
13.3
8%
1.7
US
Eli Lilly and Co
NYSE:LLY
36.9
33%
1.1
UK
Dechra Pharmaceuticals PLC
LSE:DPH
17 702.3
98%
180.6
US
Johnson & Johnson
NYSE:JNJ
16.3
13%
1.3
DK
Novo Nordisk A/S
CSE:NOVO B
14.2
14%
1
CH
Roche Holding AG
SIX:ROG
10.5
6%
1.8
CH
Novartis AG
SIX:NOVN
12.9
10%
1.3
UK
AstraZeneca PLC
LSE:AZN
196.1
21%
9.3
US
Merck & Co Inc
NYSE:MRK
10
12%
0.8
IE
E
Endo International PLC
LSE:0Y5F
655.3
N/A N/A
FR
Sanofi SA
PAR:SAN
5.6
14%
0.4

See Also

Summary
MRK intrinsic value, competitors valuation, and company profile.
DCF Valuation
MRK stock valuation using Discount Cash Flow valuation method.
Relative Valuation
MRK stock valuation using valuation multiples.
Wall Street Estimates
MRK price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
MRK stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
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