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Merck & Co. MRK Price / book

Price / book at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
6.2×-1.0×
Pfizer logo
PfizerPFE
1.8×+0.2×
Johnson & Johnson logo
Johnson & JohnsonJNJ
7.3×+2.1×
Regeneron Pharmaceuticals logo
Regeneron PharmaceuticalsREGN
2.6×+0.2×
United Therapeutics logo
United TherapeuticsUTHR
4.4×+2.4×
Revolution Medicines, Inc. logo
Revolution Medicines, Inc.RVMD
12.8×+9.7×

Other financials

Income statement

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Revenue$16.3B+4.9%
Gross profit$12.1B-0.2%
Net income-$4.2B-183%
EPS (diluted)-$1.72-186%

Balance sheet

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Cash & equivalents$5.4B-38.2%
Total debt$49.1B+35.8%
Total equity$45.9B-5.1%
Total assets$128.69B+11.8%

Cash flow

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Operating cash flow$3.9B+56.7%
CapEx$991.0M-25.4%
Free cash flow$2.9B+150%

Valuation

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Market cap$285.12B+31.2%
Enterprise value$328.82B+34.2%
P/E31.9×+19.4×
P/S4.3×+0.9×

Profitability

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Gross margin73.9%-2.5pp
Net margin13.6%-13.7pp

Returns & leverage

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Return on equity19%-20.3pp
Debt / equity1.1×+0.3×
Current ratio1.3×-0.1×

Where this comes from

Calculated from Merck & Co.’s reported figures.

Based on the most recent quarter.

The official record: Merck & Co.’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Merck & Co.'s price / book?
Merck & Co. (MRK) reported price / book of 6.5× in Q1 2026.
How has Merck & Co.'s price / book changed year-over-year?
Merck & Co.'s price / book increased by 38.2% year-over-year, from 4.7× to 6.5×.
What is the long-term trend for Merck & Co.'s price / book?
Over 4 years (2021 to 2025), Merck & Co.'s price / book has grown at a -6.7% compound annual growth rate (CAGR), from 23.5× to 17.8×.
What does price / book mean?
How the market price compares to the company's accounting net worth.
How do you interpret price / book?
Below 1.0 can flag a market discount to book value (common for distressed or asset-heavy firms); high values reflect intangible value the balance sheet doesn't capture. Most informative for financials and asset-heavy businesses.
How does price / book compare across companies?
A core valuation gauge for banks and insurers; weak for asset-light firms where book value understates economic value.