WBAG:MRCK

Stock Analysis Report

MERCK Kommanditgesellschaft auf Aktien

Executive Summary

MERCK Kommanditgesellschaft auf Aktien operates in the healthcare, life science, and performance materials sectors worldwide.

Snowflake

Fundamentals

Adequate balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has MERCK Kommanditgesellschaft auf Aktien's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.6%

MRCK

0.9%

AT Pharmaceuticals

1.8%

AT Market


1 Year Return

n/a

MRCK

12.0%

AT Pharmaceuticals

-4.1%

AT Market

Return vs Industry: Insufficient data to determine how MRCK performed against the Austrian Pharmaceuticals industry.

Return vs Market: Insufficient data to determine how MRCK performed against the Austrian Market.


Share holder returns

MRCKIndustryMarket
7 Day1.6%0.9%1.8%
30 Day5.1%2.2%-1.3%
90 Day12.7%6.2%0.1%
1 Yearn/a18.4%12.0%-0.6%-4.1%
3 Yearn/a30.4%15.9%44.3%31.2%
5 Yearn/a35.0%12.8%69.5%45.1%

Price Volatility Vs. Market

How volatile is MERCK Kommanditgesellschaft auf Aktien's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is MERCK Kommanditgesellschaft auf Aktien undervalued based on future cash flows and its price relative to the stock market?

1%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: MRCK (€104.1) is trading below our estimate of fair value (€105.49)

Significantly Undervalued: MRCK is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: MRCK is poor value based on its PE Ratio (40.5x) compared to the Pharmaceuticals industry average (22.9x).

PE vs Market: MRCK is poor value based on its PE Ratio (40.5x) compared to the Austrian market (14.1x).


Price Based on Expected Growth

Low PEG Ratio: MRCK is poor value based on its PEG Ratio (3x)


Price Based on Value of Assets

PB vs Industry: MRCK is good value based on its PB Ratio (2.6x) compared to the XE Pharmaceuticals industry average (2.9x).


Next Steps

Future Growth

How is MERCK Kommanditgesellschaft auf Aktien expected to perform in the next 1 to 3 years based on estimates from 21 analysts?

13.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: MRCK's forecast earnings growth (13.6% per year) is above the savings rate (0.5%).

Earnings vs Market: MRCK's earnings (13.6% per year) are forecast to grow faster than the Austrian market (8.2% per year).

High Growth Earnings: MRCK's earnings are forecast to grow, but not significantly.

Revenue vs Market: MRCK's revenue (5% per year) is forecast to grow faster than the Austrian market (3% per year).

High Growth Revenue: MRCK's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: MRCK's Return on Equity is forecast to be low in 3 years time (12.2%).


Next Steps

Past Performance

How has MERCK Kommanditgesellschaft auf Aktien performed over the past 5 years?

7.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MRCK's earnings have grown by 7.3% per year over the past 5 years.

Accelerating Growth: MRCK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MRCK had negative earnings growth (-49.6%) over the past year, making it difficult to compare to the Pharmaceuticals industry average (5.7%).


Return on Equity

High ROE: MRCK's Return on Equity (6.5%) is considered low.


Return on Assets

ROA vs Industry: MRCK's Return on Assets is below or equal to the Pharmaceuticals industry average last year.


Return on Capital Employed

ROCE Improving: MRCK's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is MERCK Kommanditgesellschaft auf Aktien's financial position?


Financial Position Analysis

Short Term Liabilities: MRCK's short term assets (€11.7B) exceeds its short term liabilities (€10.5B)

Long Term Liabilities: MRCK's short term assets (11.7B) exceeds its long term liabilities (11.5B)


Debt to Equity History and Analysis

Debt Level: MRCK's debt to equity ratio (62.6%) is considered high

Reducing Debt: MRCK's debt to equity ratio has increased from 35.8% to 62.6% over the past 5 years.

Debt Coverage: MRCK's debt is well covered by operating cash flow (24.6%).

Interest Coverage: MRCK's interest payments on its debt are well covered by EBIT (8.6x coverage).


Balance Sheet

Inventory Level: MRCK has a high level of physical assets or inventory.

Debt Coverage by Assets: MRCK's debt is covered by short term assets (assets are 1.063090x debt).


Next Steps

Dividend

What is MERCK Kommanditgesellschaft auf Aktien's current dividend yield, its reliability and sustainability?

1.36%

Expected Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%1.6%markettop25%4.5%industryaverage2.0%forecastin3Years1.4%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: MRCK's dividend (1.2%) isn’t notable compared to the bottom 25% of dividend payers in the Austrian market (1.58%).

High Dividend: MRCK's dividend (1.2%) is low compared to the top 25% of dividend payers in the Austrian market (4.48%).

Stable Dividend: MRCK's dividend payments have been volatile in the past 10 years.

Growing Dividend: MRCK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.6%), MRCK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MRCK's dividends in 3 years are forecast to be well covered by earnings (21.9% payout ratio).


Next Steps

Management

What is the CEO of MERCK Kommanditgesellschaft auf Aktien's salary, the management and board of directors tenure and is there insider trading?

5.1yrs

Average management tenure


CEO

Stefan Oschmann (62yo)

3.5yrs

Tenure

€7,981,000

Compensation

Dr. Stefan Oschmann has been the Chairman of Executive Board and Chief Executive Officer of Merck KGaA since April 30, 2016. Dr. Oschmann has been a Member of Executive Board for Merck KGaA since January 1 ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Stefan's total compensation is reasonable compared to companies of similar size in the Austrian market.

Compensation vs Earnings: Stefan's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.1yrs

Average Tenure

51yo

Average Age

Experienced Management: MRCK's management team is seasoned and experienced (5.1 years average tenure).


Board Age and Tenure

10.3yrs

Average Tenure

63yo

Average Age

Experienced Board: MRCK's board of directors are seasoned and experienced ( 10.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Belén Garijo López (59yo)

    CEO of Healthcare & Member of the Executive Board

    • Tenure: 4.8yrs
    • Compensation: €6.64m
  • Stefan Oschmann (62yo)

    Chairman of Executive Board & CEO

    • Tenure: 3.5yrs
    • Compensation: €7.98m
  • Marcus Kuhnert (51yo)

    CFO & Member of Executive Board

    • Tenure: 5.4yrs
    • Compensation: €4.38m
  • Kai Beckmann (54yo)

    CEO of Performance Materials & Member of the Executive Board

    • Tenure: 8.5yrs
    • Compensation: €4.78m
  • Udit Batra (48yo)

    CEO of Life Science & Member of Executive Board

    • Tenure: 3.5yrs
    • Compensation: €5.32m
  • Friederike Rotsch (47yo)

    Group General Counsel and Head of Group Legal & Compliance

    • Tenure: 5.5yrs
  • Constantin Fest (42yo)

    Head of Investor Relations

    • Tenure: 6.8yrs
  • Gerhard Schmitz (56yo)

    Head of Global Accounting

    • Tenure: 5.9yrs
  • Barbara Weiland (45yo)

    Chief Compliance Officer

    • Tenure: 0.3yrs
  • Dirk Toepfer

    Chief Information Officer

    • Tenure: 1.6yrs

Board Members

  • Michael Fletterich (61yo)

    Vice Chairman of Supervisory Board

    • Tenure: 5.4yrs
    • Compensation: €72.75k
  • Theo Siegert (72yo)

    Member of Supervisory Board

    • Tenure: 13.3yrs
    • Compensation: €49.25k
  • Albrecht Merck (69yo)

    Member of Supervisory Board

    • Tenure: 14.8yrs
    • Compensation: €50.00k
  • Edeltraud Glänzer (64yo)

    Member of Supervisory Board

    • Tenure: 11.6yrs
    • Compensation: €50.00k
  • Michaela von Glenck (73yo)

    Member of Supervisory Board

    • Tenure: 11.6yrs
    • Compensation: €50.00k
  • Mechthild Auge (62yo)

    Member of Supervisory Board

    • Tenure: 10.6yrs
    • Compensation: €50.00k
  • Wolfgang Büchele (60yo)

    Chairman of Supervisory Board

    • Tenure: 5.4yrs
    • Compensation: €97.00k
  • Crocifissa Attardo (57yo)

    Member of Supervisory Board

    • Tenure: 10yrs
    • Compensation: €50.00k
  • Helga Rübsamen-Schaeff (70yo)

    Member of Supervisory Board

    • Tenure: 5.4yrs
    • Compensation: €50.00k
  • Tobias Thelen (43yo)

    Member of Supervisory Board

    • Tenure: 5.4yrs
    • Compensation: €50.00k

Company Information

MERCK Kommanditgesellschaft auf Aktien's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MERCK Kommanditgesellschaft auf Aktien
  • Ticker: MRCK
  • Exchange: WBAG
  • Founded: 1668
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €45.282b
  • Shares outstanding: 434.78m
  • Website: https://www.merckgroup.com

Number of Employees


Location

  • MERCK Kommanditgesellschaft auf Aktien
  • Frankfurter Strasse 250
  • Darmstadt
  • Hessen
  • 64293
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MKGA.FOTCPK (Pink Sheets LLC)YesBearer SharesUSUSDOct 1995
MRKDB (Deutsche Boerse AG)YesBearer SharesDEEUROct 1995
MRKXTRA (XETRA Trading Platform)YesBearer SharesDEEUROct 1995
0O14LSE (London Stock Exchange)YesBearer SharesGBEUROct 1995
MRKDBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBEUROct 1995
MRCKWBAG (Wiener Boerse AG)YesBearer SharesATEUROct 1995
MERSWX (SIX Swiss Exchange)YesBearer SharesCHCHFOct 1995
MRKBIT (Borsa Italiana)YesBearer SharesITEUROct 1995
MKKG.YOTCPK (Pink Sheets LLC)SPON ADR EACH REPR 0.2 ORD SHSUSUSDSep 2007
MRKCBST (Boerse-Stuttgart)SPON ADR EACH REPR 0.2 ORD SHSDEEURSep 2007

Biography

MERCK Kommanditgesellschaft auf Aktien operates in the healthcare, life science, and performance materials sectors worldwide. It offers prescription medicines to treat cancer, multiple sclerosis, infertili ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:20
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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