MRK

NYSE

Merck & Co., Inc.

Health Care, Pharmaceuticals

$128.58

close 7 Aug 2026

+60.66%

52-week change

$317.57B

market cap

$77.58

$135.05

52-week range

Expected price

$64.61 – $78.97

Current price

$128.58

Signal

Could be overvalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)36.22x

P/S (TTM)4.83x

P/B6.91x

EV/EBITDA (TTM)22.20x

FCF yield (TTM)4.44%

PEG (TTM, GAAP)4.29

Context

P/E, own 5-year average76.09x

P/E, sector median29.65x*

Price at 5-year median P/E$71.92*

Indicated dividend yield2.64%

Forward — analyst consensus

Forward P/E (FY2026)46.87x*

Forward P/E (FY2027)13.39x

Forward PEG0.19*

Consensus EPS FY2026 (21 analysts)$2.74

EPS growth (FY2026→FY2027)249.99%

Revenue growth (FY2026)3.21%

Street view

Price target (mean)$136.65*

Target upside6.28%

Ratings (buy / hold / sell)19 / 8 / 1

FY2026 EPS revisions, 30d (up / down)1 / 2

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 31 Mar 2026, filed 7 Aug 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR +31.13%10Y CAGR +0.94%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$128.58

Cash & equivalents$6.85B

Total debt$53.91B

Shares outstanding2.47B

Result

DCF price per share$662.28

Current price$128.58

Margin of safety+415.07%

PV of years 1–10$391.40B

PV of terminal value$1.29T

Equity value$1.64T

Market-implied growth+5.03%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$20.08B	$25.10B	$31.37B	$39.22B	$49.02B	$61.28B	$76.59B	$95.74B	$119.68B	$149.60B	$2.79T
PV	$18.59B	$21.52B	$24.90B	$28.83B	$33.36B	$38.61B	$44.69B	$51.73B	$59.87B	$69.29B	$1.29T

period to 30 Jun 2026, filed 7 Aug 2026, close 7 Aug 2026