Stock Analysis on Net

Merck & Co. Inc. (NYSE:MRK)

Market Value Added (MVA)

Microsoft Excel

MVA

Merck & Co. Inc., MVA calculation

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Fair value of loans payable and long-term debt, including current portion1 32,600 32,000 26,700 35,700 36,000
Operating lease liability 1,159 1,213 1,294 1,529 1,662
Market value of common equity 230,955 326,306 278,966 192,917 188,812
Noncontrolling interests 59 54 67 73 87
Less: Investments in debt and publicly traded equity securities 1,456 1,101 1,853 1,733 1,876
Market (fair) value of Merck 263,317 358,472 305,174 228,486 224,685
Less: Invested capital2 79,426 69,966 73,942 70,735 57,182
MVA 183,891 288,506 231,232 157,751 167,503

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Merck & Co. Inc. market (fair) value less invested capital. Merck & Co. Inc. MVA increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

MVA Spread Ratio

Merck & Co. Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)1 183,891 288,506 231,232 157,751 167,503
Invested capital2 79,426 69,966 73,942 70,735 57,182
Performance Ratio
MVA spread ratio3 231.53% 412.35% 312.72% 223.02% 292.93%
Benchmarks
MVA Spread Ratio, Competitors4
AbbVie Inc. 483.23% 438.96% 297.39% 253.64% 172.70%
Amgen Inc. 238.60% 213.63% 308.27% 303.88% 343.98%
Bristol-Myers Squibb Co. 155.28% 100.64% 160.91% 138.81% 109.83%
Danaher Corp. 123.11% 157.62% 156.95% 187.44% 172.97%
Eli Lilly & Co. 2,281.36% 2,390.18% 1,239.79% 833.40% 778.02%
Gilead Sciences Inc. 276.96% 148.05% 175.26% 119.58% 125.56%
Johnson & Johnson 288.70% 309.06% 288.40% 366.82% 363.75%
Pfizer Inc. 40.73% 40.45% 124.43% 210.66% 116.68%
Regeneron Pharmaceuticals Inc. 416.61% 663.41% 521.52% 461.61% 508.24%
Thermo Fisher Scientific Inc. 182.22% 189.54% 195.34% 212.01% 232.34%
Vertex Pharmaceuticals Inc. 1,158.91% 712.26% 484.09% 564.91% 575.24%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 MVA. See details »

2 Invested capital. See details »

3 2024 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 183,891 ÷ 79,426 = 231.53%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Merck & Co. Inc. MVA spread ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

MVA Margin

Merck & Co. Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Market value added (MVA)1 183,891 288,506 231,232 157,751 167,503
Sales 64,168 60,115 59,283 48,704 47,994
Performance Ratio
MVA margin2 286.58% 479.92% 390.05% 323.90% 349.01%
Benchmarks
MVA Margin, Competitors3
AbbVie Inc. 594.14% 551.18% 420.74% 432.93% 391.08%
Amgen Inc. 470.63% 555.51% 493.74% 503.37% 550.26%
Bristol-Myers Squibb Co. 201.43% 151.08% 250.01% 240.26% 232.86%
Danaher Corp. 380.02% 517.54% 389.99% 468.46% 507.10%
Eli Lilly & Co. 1,813.26% 2,058.21% 1,055.66% 769.29% 778.57%
Gilead Sciences Inc. 429.17% 251.89% 295.97% 211.56% 259.24%
Johnson & Johnson 346.20% 359.73% 345.74% 383.60% 433.17%
Pfizer Inc. 86.91% 105.20% 136.21% 224.83% 284.06%
Regeneron Pharmaceuticals Inc. 365.32% 605.08% 525.04% 312.14% 495.20%
Thermo Fisher Scientific Inc. 348.77% 378.46% 360.17% 431.35% 441.03%
Vertex Pharmaceuticals Inc. 951.31% 955.82% 714.32% 700.10% 754.94%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 MVA. See details »

2 2024 Calculation
MVA margin = 100 × MVA ÷ Sales
= 100 × 183,891 ÷ 64,168 = 286.58%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Merck & Co. Inc. MVA margin ratio improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.