Summary of share price highs, lows and changes for Merck
Historical stock prices
Current Share Price	US$143.79
52 Week High	US$156.92
52 Week Low	US$77.58
Beta	0.23
1 Month Change	5.85%
3 Month Change	24.56%
1 Year Change	77.32%
3 Year Change	33.93%
5 Year Change	99.79%
Change since IPO	12,681.33%

Recent News & Updates

Narrative Update • Sep 09

MRK: Cancer Vaccine Breakthrough And Broader Pipeline Will Shape Post Keytruda Outlook

Merck's analyst fair value estimate has risen from $136.85 to $150.42 as analysts factor in expectations for higher long term revenue growth, slightly better profit margins, and a richer projected future P/E multiple. This revised outlook is supported by a wave of price target increases tied to positive melanoma vaccine data and broader pipeline progress.

Recent updates

Narrative Update • Sep 09

MRK: Cancer Vaccine Breakthrough And Broader Pipeline Will Shape Post Keytruda Outlook

Narrative Update • Aug 26

MRK: Cancer Vaccine Breakthrough Will Support Higher Future Oncology Weighted P E Multiple

Merck's analyst fair value estimate has moved from $155 to $186 as analysts factor in stronger revenue growth assumptions, higher projected profit margins, and a modestly higher future P/E multiple following recent updates to its cancer vaccine and oncology pipeline. Analyst Commentary Recent research on Merck highlights a clear divide between bullish analysts who see the cancer vaccine and oncology pipeline as meaningful long term drivers, and more cautious voices focused on valuation and the upcoming Keytruda loss of exclusivity.

Seeking Alpha • Aug 20

Merck And Moderna's Melanoma Results

Summary Moderna and Merck have been working together for some years now on cancer therapies that would combine Merck’s Keytruda antibody with personalized mRNA immunotherapy from Moderna. Since each cancer patient’s tumor case is indeed somewhat different from any other, the idea is to use biopsy and blood samples to tailor the therapeutic-vaccine effects of the mRNA injections to each patient's profile of neoantigens being produced by their tumors. The trial met its primary endpoint of improvement in recurrance-free survival and a secondary endpoint of distant metastasis-free survival. This was apparently the first prespecified interim readout; the trial will continue to evaluate endpoints like overall survival. Read the full article on Seeking Alpha

Narrative Update • Aug 12

MRK: Pipeline Execution And Patent Cliff Response Will Shape Future Earnings Balance

Merck's updated analyst price target framework now points to a fair value of $136.85, up from $132.78. Analysts link this shift to a series of higher Street targets that emphasize the company's dividend profile, pipeline progress, and M&A optionality.

Narrative Update • Jul 29

MRK: Pipeline Execution And Policy Headwinds Will Restrain Multiple Expansion

Merck's updated analyst price target reflects a modest fair value move to about $108, with analysts pointing to refreshed pipeline assumptions, sector re-rating, and multiple expansion as key drivers behind the change. Analyst Commentary Recent commentary on Merck highlights a mix of optimism around the pipeline and sector setup alongside a more cautious tone on execution risks, earnings durability, and regulatory overhangs.

Narrative Update • Jul 14

MRK: Oncology Pipeline And Patent Cliff Responses Will Shape Earnings Balance

Merck's updated analyst price target moves higher by a few dollars, reflecting modestly higher fair value estimates to $132.78, alongside generally supportive analyst views around the company's Q2 setup, sector fund flows, and long term pipeline assumptions. Analyst Commentary Analysts covering Merck are broadly constructive ahead of the upcoming Q2 report, with most recent research focused on price target updates, the earnings setup, and how the pipeline and regulatory backdrop could shape the stock's risk and reward profile.

Narrative Update • Jun 30

MRK: Late-Stage Pipeline And Oncology Approvals Will Support Higher Future P E Multiple

Analysts have raised the Merck fair value estimate to $155 from $150, pointing to higher long term earnings expectations and multiple expansion, as reflected in recent Street price target increases to as high as $155. Analyst Commentary Recent Street research on Merck reflects a cluster of constructive views, with several bullish analysts lifting price targets and highlighting long term earnings potential.

Narrative Update • Jun 15

MRK: Terns Acquisition Execution And Bidding Risk Will Constrain Future Upside

Analysts have nudged their price targets for Merck higher by about $3 to $15 in recent research, supporting a modest increase in the fair value estimate to $101.68. This reflects updated profit margin assumptions and a slightly lower future P/E, along with adjustments to revenue growth expectations and discount rates.

Narrative Update • Jun 01

MRK: Oncology Pipeline And Terns Deal Will Shape Future Earnings Balance

Analysts have nudged their average price targets on Merck higher by $3 to $15 in recent weeks, citing updated views on the company’s oncology pipeline, the Terns Pharmaceuticals deal, and specific assets like Sac TMT that some expect could materially influence Merck’s long term earnings profile. Analyst Commentary Recent Street research around Merck clusters around two main themes, the potential of key pipeline assets like Sac TMT and TERN-701, and how recent study outcomes and deal activity could affect execution risk and valuation.

Narrative Update • May 21

Merck (MRK) – Expands Oncology Leadership with New Clinical Data at ASCO 2026

Announcement Overview Analyst: Qudus Adebara (Founder, Wane Investment House) Merck & Co., Inc. (“Merck” or “the Company”), known as MSD outside the United States and Canada, has announced that it will present more than 100 abstracts spanning over 25 cancer types at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting , scheduled for May 29 – June 2, 2026.

Narrative Update • May 19

Merck Completes Acquisition of Terns Pharmaceuticals

Strengthening Hematology Pipeline with Breakthrough CML Therapy Candidate TERN-701 Analyst: Qudus Adsebara (Founder, Wane Investment House) Transaction Overview Merck & Co Inc (NYSE: MRK), known as MSD outside the United States and Canada, has successfully completed the acquisition of Terns Pharmaceuticals Inc following the conclusion of its cash tender offer and merger process. The acquisition reinforces Merck’s strategy of expanding its oncology and hematology pipeline through science-driven and value-enhancing business development initiatives.

Narrative Update • May 17

MRK: Oncology Pipeline And Terns Deal Will Shape Forward Risk Balance

Merck's analyst fair value estimate is now $129.74. Analysts link this adjustment and modestly higher assumed revenue growth and P/E multiples to recent price target increases from firms such as Wells Fargo, UBS, JPMorgan, Citi, Morgan Stanley, RBC, and Barclays following pipeline updates and the Terns acquisition.

Analysis Article • May 11

Merck's (NYSE:MRK) Soft Earnings Don't Show The Whole Picture

Shareholders appeared unconcerned with Merck & Co., Inc.'s ( NYSE:MRK ) lackluster earnings report last week. Our...

Narrative Update • May 02

MRK: Oncology Reorg And Deals For Targeted Therapies Will Support Higher P E Multiple

Analysts nudged the Merck price target higher by a few dollars per share, reflecting updated expectations for slightly lower revenue growth, a modestly higher profit margin, and a somewhat lower future P/E multiple, supported by recent research commentary on the pipeline and business development moves. Analyst Commentary Recent research has tilted positive around Merck, with several large firms adjusting their models and price targets to reflect updated views on the pipeline, partnered programs, and business development activity.

Narrative Update • Apr 19

Merck & Co., Inc. – Tender Offer for Terns Pharmaceuticals, Inc. (Full Acquisition Transaction)

Author: Qudus Adebara (Founder of Wane Investment House) Transaction Overview Merck & Co., Inc. (known as MSD outside the U.S. and Canada) has formally commenced a cash tender offer to acquire all outstanding shares of Terns Pharmaceuticals, Inc., following the signing of a definitive agreement on March 25, 2026.

Narrative Update • Apr 18

MRK: Oncology Reorg And Pipeline Deals Will Support Higher Future P E Multiple

Analysts have lifted their Merck price targets by up to the mid double digits in recent weeks, citing higher modeled revenue growth, slightly stronger profit margins, and updated views on future P/E multiples as Merck advances its pipeline and business development moves. Analyst Commentary Recent Street research on Merck has been broadly constructive, with a cluster of price target revisions and fresh initiations pointing to confidence in the company’s execution, pipeline progress, and M&A activity.

Narrative Update • Apr 04

MRK: M&A Execution Risks Around Terns And Revolution Will Restrain Future Upside

Analysts have nudged Merck's fair value estimate higher to approximately $101.30, reflecting updated assumptions for slightly stronger revenue growth, a modestly higher profit margin, and a marginally lower future P/E. This view is supported by a wave of recent price target increases into the $130 to $150 range and fresh Outperform or Overweight initiations on the stock.

Narrative Update • Mar 21

MRK: Pipeline Readouts And Oncology Reorg Will Support Higher Future P E Multiple

The analyst price target for Merck has been reset from $136 to $150. This reflects analysts' updated assumptions for modestly higher revenue growth, a stronger profit margin profile, and a slightly lower future P/E multiple, supported by recent research that highlights potential upside from Sac TMT, upcoming launches, and key Phase 3 readouts.

Narrative Update • Mar 06

MRK: Keytruda Cliff And M&A Uncertainty Will Likely Curb Long Term Upside

Analysts have lifted their Merck fair value estimate from $83.00 to about $101.04, pointing to broad price target hikes across the Street and citing confidence in upcoming product launches, Phase 3 readouts, and management's approach to the Keytruda loss of exclusivity. Analyst Commentary Recent research coverage on Merck has tilted positive, with several firms lifting price targets and starting the stock with favorable ratings.

Narrative Update • Feb 20

MRK: Pipeline Readouts And Gardasil Policy Shifts Will Shape Forward Risk Balance

Analysts have lifted their Merck fair value estimate from $115.11 to $124.88, citing a higher expected future P/E, modestly higher projected revenue growth, and a series of recent price target hikes that highlight confidence in upcoming launches and data readouts. Analyst Commentary Recent Street research around Merck points to a generally constructive tone, with many firms adjusting ratings and price targets in a way that supports a higher fair value, while still flagging a few execution and policy watchpoints for investors to track.

Narrative Update • Feb 06

MRK: Rising Confidence In Pipeline Execution To Support Richer Future P E Multiple

Analysts have nudged our Merck fair value estimate higher to $136, reflecting a higher average price target across firms such as Scotiabank, Goldman Sachs, BMO, BofA, Citi, Wells Fargo, Bernstein, Cantor Fitzgerald, TD Cowen, and others, who cite stronger top line expectations, updated margin assumptions, and a richer future P/E multiple. Analyst Commentary Across recent research, bullish analysts are largely aligned in their view that Merck is executing well enough to support higher valuation assumptions.

Shareholder Returns

	MRK	US Pharmaceuticals	US Market
7D	-3.1%	-0.6%	-1.6%
1Y	77.3%	45.2%	12.1%

Return vs Industry: MRK exceeded the US Pharmaceuticals industry which returned 45.2% over the past year.

Return vs Market: MRK exceeded the US Market which returned 12.1% over the past year.

Price Volatility

Is MRK's price volatile compared to industry and market?
MRK volatility
MRK Average Weekly Movement	5.1%
Pharmaceuticals Industry Average Movement	8.5%
Market Average Movement	6.8%
10% most volatile stocks in US Market	15.2%
10% least volatile stocks in US Market	2.9%

Stable Share Price: MRK has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: MRK's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1891	74,000	Rob Davis	www.merck.com

Merck & Co., Inc. operates as a healthcare company worldwide. It offers human health pharmaceutical for various areas under the Keytruda, Keytruda Qlex, Welireg, Gardasil, ProQuad, M-M-R II, Varivax, Vaxneuvance, Capvaxive, RotaTeq, Pneumovax 23, Bridion, Prevymis, Dificid, Zerbaxa, Winrevair, Adempas/ Verquvo, Ohtuvayre, Lagevrio, Isentress/Isentress HD, Delstrigo, Pifeltro, Belsomra, Januvia, and Janumet brands. The company also provides veterinary pharmaceuticals, vaccines and health management solutions and services, such as livestock products under the Nuflor, Bovilis/Vista, Bovilis Cryptium, Banamine, Estrumate, Matrix, Resflor, Zuprevo, Revalor, Safe-Guard, M+Pac, Porcilis, Circumvent, Nobilis/Innovax, Paracox and Coccivac, Exzolt, Slice, Imvixa, Clynav, Aquavac/Norvax, Aquaflor, Flexolt brands; Allflex Livestock Intelligence solutions; and companion animal products under the Bravecto One-Month, Bravecto Injectable/Quantum, Bravecto TriUNO, Bravecto Plus, Sentinel Spectrum, Sentinel Flavor Tabs, Numelvi, Optimmune, Nobivac NXT, GilvetMab, Otomax, Mometamax, Mometamax Ultra, Posatex, Caninsulin/Vetsulin, Panacur, Safeguard, Regumate, Prestige, Scalibor/Exspot, Sure Petcare, and Home Again brands.

Merck & Co., Inc. Fundamentals Summary

How do Merck's earnings and revenue compare to its market cap?
MRK fundamental statistics
Market cap	US$357.37b
Earnings (TTM)	US$3.17b
Revenue (TTM)	US$66.57b

111.8x

P/E Ratio

5.3x

P/S Ratio

Is MRK overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MRK income statement (TTM)
Revenue	US$66.57b
Cost of Revenue	US$16.04b
Gross Profit	US$50.53b
Other Expenses	US$47.35b
Earnings	US$3.17b

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

Oct 29, 2026

Earnings per share (EPS)	1.29
Gross Margin	75.90%
Net Profit Margin	4.77%
Debt/Equity Ratio	128.4%

How did MRK perform over the long term?

See historical performance and comparison

Dividends

2.4%

Current Dividend Yield

259%

Payout Ratio

Does MRK pay a reliable dividends?

See MRK dividend history and benchmarks

When do you need to buy MRK by to receive an upcoming dividend?
Merck dividend dates
Ex Dividend Date	Sep 15 2026
Dividend Pay Date	Oct 07 2026
Days until Ex dividend	1 day
Days until Dividend pay date	21 days

Does MRK pay a reliable dividends?

See MRK dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/09/15 04:03
End of Day Share Price	2026/09/15 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Merck & Co., Inc. is covered by 50 analysts. 23 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
David Toung	Argus Research Company
Emily Field	Barclays
"Emily Field	Barclays

Merck (MRK) Stock Overview

Rewards

Risk Analysis

Analyst Price Targets

US Investments And New Product Launches Will Shape Future Markets

Aging Populations And Biotech Breakthroughs Will Drive Expansion

Global Pricing Pressures Will Erode Margins Amid Rising Regulatory Scrutiny

Top Community Narratives

Merck & Co.: Navigating Pharmaceutical Frontiers Amidst Patent Challenges

Top Community Narratives

Merck & Co.: Navigating Pharmaceutical Frontiers Amidst Patent Challenges

Top Analyst Narratives

US Investments And New Product Launches Will Shape Future Markets

Aging Populations And Biotech Breakthroughs Will Drive Expansion

Global Pricing Pressures Will Erode Margins Amid Rising Regulatory Scrutiny

Merck & Co., Inc. Competitors

Johnson & Johnson

Pfizer

Bristol-Myers Squibb

Eli Lilly

Price History & Performance

Recent News & Updates

Merck Completes Cidara Acquisition Bringing Phase III Flu Therapy Into Late-Stage Pipeline

MRK: Cancer Vaccine Breakthrough And Broader Pipeline Will Shape Post Keytruda Outlook

Merck Pilots Blockchain Cocoa Traceability With The Hashgraph Group and PwC Germany

Upcoming dividend of US$0.85 per share

Merck Sees Positive Phase 3 Results for Tulisokibart in Ulcerative Colitis Therapy

Merck Wins FDA Nod for First Oral PCSK9 Inhibitor LIPFENDRA

Recent updates

Merck Completes Cidara Acquisition Bringing Phase III Flu Therapy Into Late-Stage Pipeline

MRK: Cancer Vaccine Breakthrough And Broader Pipeline Will Shape Post Keytruda Outlook

Merck Pilots Blockchain Cocoa Traceability With The Hashgraph Group and PwC Germany

Upcoming dividend of US$0.85 per share

Merck Sees Positive Phase 3 Results for Tulisokibart in Ulcerative Colitis Therapy

Merck Wins FDA Nod for First Oral PCSK9 Inhibitor LIPFENDRA

MRK: Cancer Vaccine Breakthrough Will Support Higher Future Oncology Weighted P E Multiple

Merck Licenses AI Vaccine Candidate EVX-B3 and Confirms Evaxion Equity Stake

Merck & Co., Inc. And Moderna, Inc. Announce Phase 3 INTerpath-001 Trial Of Intismeran Autogene Plus KEYTRUDA Met Endpoints Of Recurrence-Free Survival And Distant Metastasis-Free Survival In Patients With Completely Resected Stage IIB-IV Melanoma

Price target increased by 7.1% to US$147

Merck And Moderna's Melanoma Results

Merck Reports Major Phase 3 Win for Personalized mRNA Cancer Vaccine in Melanoma Trial

MRK: Pipeline Execution And Patent Cliff Response Will Shape Future Earnings Balance

Insider recently sold US$2.0m worth of stock

FDA and EMA Review Merck Application to Expand ENFLONSIA RSV Use in Young Children

Insider notifies of intention to sell stock

Merck Ends Phase III Trodelvy Keytruda Lung Cancer Trial After Unpromising Results

Merck Announces Health Canada Approval Of KEYTRUDA For Muscle Invasive Bladder Cancer Ineligible For Cisplatin Chemotherapy In Combination With Enfortumab Vedotin As Neoadjuvant And Adjuvant Treatment

Health Canada Approves Keytruda Combination for Muscle-Invasive Bladder Cancer in Eligible Adults

Merck & Co., Inc. Updates Earnings Guidance for 2026

Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

First quarter dividend of US$0.85 announced

Merck & Co., Inc. Announces Quarterly Dividend for the Fourth Quarter of 2026, Payable on October 7, 2026

MRK: Pipeline Execution And Policy Headwinds Will Restrain Multiple Expansion

Merck Signs Global Licensing Deals for Monthly Oral HIV PrEP Alimatravir in Phase 3

Consensus EPS estimates increase by 75%

Merck Announces Initial Access Plans for Alimatravir, an Investigational Once-Monthly Oral HIV Pre-Exposure Prophylaxis in Phase 3 Development

Merck and Phanes Expand Trial to Test New Combo Therapy for Biliary Tract Cancer

Merck Wins FDA Approval for First Oral PCSK9 Cholesterol Drug Lipfendra

Merck & Co., Inc. Receives U.S. FDA Approval For LIPFENDRA (Enlicitide) As The First Once-Daily Oral PCSK9 Inhibitor To Reduce LDL-C In Adults With Hypercholesterolemia

MRK: Oncology Pipeline And Patent Cliff Responses Will Shape Earnings Balance

Merck Receives Fda Approval for Keytruda and Keytruda Qlex Each with Padcev as Treatment Before and After Surgery for Adults with Muscle-Invasive Bladder Cancer

Consensus EPS estimates fall by 33%

Merck Expands HIV Therapy Access With New IDVYNSO Agreement in US Program Network

Merck Reports Positive Tulisokibart Phase 3 Result and Wins New KEYTRUDA Oncology Approvals

Consensus EPS estimates increase by 21%

US Lawmakers Open National Security Probe Into Merck Clinical Trials in China

MRK: Late-Stage Pipeline And Oncology Approvals Will Support Higher Future P E Multiple

Merck Receives European Commission Approval For KEYTRUDA Plus Padcev as First PD-1 Inhibitor Plus Antibody-Drug Conjugate Regimen For Adults With Cisplatin-Ineligible Resectable Muscle-Invasive Bladder Cancer

FDA Approves KEYTRUDA WELIREG Combo for Early-Stage Renal Cell Carcinoma

Merck Reports Positive Topline Results From The Phase 3 ATLAS-UC Induction-Only Study Evaluating Tulisokibart In Patients With Moderately To Severely Active Ulcerative Colitis

Merck Receives U.S. FDA Approval for Expanded Indication of CAPVAXIVE Pneumococcal 21-Valent Conjugate Vaccine in Children and Adolescents Aged 2 Through 17 At Increased Risk for Pneumococcal Disease

MRK: Terns Acquisition Execution And Bidding Risk Will Constrain Future Upside

Merck Receives Fda Approval for KEYTRUDA, KEYTRUDA QLEX, and WELIREG Combinations for Adjuvant Treatment of Clear Cell Renal Cell Carcinoma

Merck Gains FDA Clearance for Kidney Cancer Combo and Expands Poultry Device Business

Gilead Sciences, Inc. And Merck Announce Positive Topline Results From Two Phase 3 Studies Evaluating Islatravir/Lenacapavir, An Oral Once-Weekly HIV Treatment

Merck Pursues Growth With Terns Deal and Expanding Pipeline as Keytruda Patent Expiry Nears

MRK: Oncology Pipeline And Terns Deal Will Shape Future Earnings Balance

Merck & Co., Inc. Grants Breakthrough Therapy Designation For Calderasib MK-1084 For First-Line Treatment Of Advanced Or Metastatic Non-Small Cell Lung Cancer With KRAS G12C-Mutation

First quarter dividend of US$0.85 announced

Merck & Co., Inc. Declares Quarterly Dividend for the Third Quarter of 2026, Payable on July 8, 2026