Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Merck & Co. Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Merck & Co. Inc. P/E ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024. |
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Merck & Co. Inc. P/OP ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024. |
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Merck & Co. Inc. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Merck & Co. Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Price to Earnings (P/E)
Merck & Co. Inc., historical P/E calculation (quarterly data)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,529,635,645 | 2,534,809,312 | 2,532,806,307 | 2,532,643,872 | 2,534,023,084 | 2,537,521,169 | 2,537,435,954 | 2,538,592,467 | 2,535,395,974 | 2,533,279,845 | 2,528,805,025 | 2,527,733,606 | 2,525,943,936 | 2,531,374,696 | 2,532,058,364 | 2,530,315,668 | 2,530,034,437 | 2,529,241,070 | 2,524,101,191 | 2,536,268,760 | 2,545,984,142 | 2,560,374,643 | 2,574,644,410 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to Merck & Co., Inc. (in millions) | 3,157) | 5,455) | 4,762) | (1,226) | 4,745) | (5,975) | 2,821) | 3,017) | 3,248) | 3,944) | 4,310) | 3,758) | 4,567) | 1,545) | 3,179) | (2,095) | 2,941) | 3,002) | 3,219) | 2,357) | 1,901) | 2,670) | 2,915) | |||||||
| Earnings per share (EPS)2 | 4.80 | 5.42 | 0.91 | 0.14 | 1.82 | 1.23 | 5.14 | 5.72 | 6.02 | 6.54 | 5.61 | 5.16 | 2.85 | 2.20 | 2.78 | 2.79 | 4.55 | 4.14 | 4.02 | 3.88 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 100.73 | 112.31 | 127.51 | 128.84 | 103.38 | 106.09 | 117.68 | 109.89 | 98.75 | 87.41 | 88.01 | 76.32 | 81.61 | 75.32 | 77.70 | 74.62 | 80.46 | 81.64 | 77.12 | 79.94 | 82.92 | 84.35 | 78.18 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/E ratio4 | 20.98 | 20.73 | 140.05 | 893.99 | 56.85 | 86.53 | 22.92 | 19.21 | 16.41 | 13.36 | 15.70 | 14.78 | 28.65 | 34.23 | 28.00 | 26.72 | 17.67 | 19.70 | 19.18 | 20.60 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 69.16 | 62.04 | 48.26 | 63.84 | 38.27 | 30.55 | 34.43 | 22.62 | 19.16 | 19.44 | 21.64 | 22.07 | 27.34 | 30.62 | 39.63 | 40.17 | 22.60 | 23.92 | 14.70 | 17.82 | — | — | — | |||||||
| Amgen Inc. | 40.68 | 53.65 | 44.38 | 23.14 | 18.09 | 16.31 | 16.18 | 19.56 | 21.00 | 20.03 | 22.23 | 21.05 | 21.91 | 22.56 | 19.20 | 18.82 | 17.25 | 19.97 | 17.70 | 17.07 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | — | — | — | 12.27 | 13.01 | 15.93 | 19.43 | 23.97 | 23.71 | 24.14 | 25.64 | 20.92 | — | — | — | — | — | — | 144.77 | 41.99 | — | — | — | |||||||
| Danaher Corp. | 48.49 | 45.39 | 42.59 | 39.09 | 24.76 | 29.99 | 25.00 | 25.65 | 26.65 | 32.73 | 32.15 | 29.94 | 38.81 | 37.87 | 39.26 | 44.49 | 46.61 | 41.91 | 35.88 | 38.34 | — | — | — | |||||||
| Eli Lilly & Co. | 96.05 | 109.42 | 120.94 | 135.24 | 110.43 | 76.21 | 65.16 | 50.08 | 55.53 | 51.05 | 45.29 | 40.66 | 40.07 | 40.34 | 28.77 | 31.95 | 22.54 | 25.59 | 26.56 | 16.19 | — | — | — | |||||||
| Gilead Sciences Inc. | 925.87 | 89.29 | 166.76 | 16.17 | 17.10 | 17.88 | 17.75 | 22.68 | 29.30 | 18.66 | 17.25 | 12.36 | 11.44 | 16.83 | 277.25 | 641.48 | 59.19 | — | 19.58 | 16.45 | — | — | — | |||||||
| Johnson & Johnson | 27.19 | 10.11 | 9.46 | 10.73 | 10.12 | 33.35 | 33.43 | 22.97 | 23.52 | 24.98 | 23.95 | 20.93 | 23.98 | 25.51 | 28.35 | 28.92 | 22.51 | 25.68 | 23.06 | 25.99 | — | — | — | |||||||
| Pfizer Inc. | 37.00 | — | — | 73.42 | 16.60 | 9.42 | 7.44 | 7.58 | 8.81 | 9.56 | 11.11 | 11.76 | 14.03 | 20.05 | 20.15 | 19.62 | 25.36 | 14.99 | 13.04 | 11.63 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 19.79 | 27.88 | 26.78 | 25.99 | 22.35 | 19.48 | 19.77 | 19.68 | 14.98 | 11.67 | 9.15 | 8.37 | 9.96 | 10.38 | 13.27 | 15.09 | 19.91 | 22.27 | 28.35 | 19.86 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 34.78 | 37.81 | 36.21 | 35.65 | 29.57 | 37.01 | 34.99 | 30.55 | 27.64 | 31.09 | 28.15 | 27.35 | 29.43 | 24.63 | 23.23 | 27.89 | 38.43 | 44.19 | 35.50 | 33.36 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
EPS
= (Net income (loss) attributable to Merck & Co., Inc.Q3 2024
+ Net income (loss) attributable to Merck & Co., Inc.Q2 2024
+ Net income (loss) attributable to Merck & Co., Inc.Q1 2024
+ Net income (loss) attributable to Merck & Co., Inc.Q4 2023)
÷ No. shares of common stock outstanding
= (3,157,000,000 + 5,455,000,000 + 4,762,000,000 + -1,226,000,000)
÷ 2,529,635,645 = 4.80
3 Closing price as at the filing date of Merck & Co. Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/E ratio = Share price ÷ EPS
= 100.73 ÷ 4.80 = 20.98
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/E ratio | The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. | Merck & Co. Inc. P/E ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024. |
Price to Operating Profit (P/OP)
Merck & Co. Inc., historical P/OP calculation (quarterly data)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,529,635,645 | 2,534,809,312 | 2,532,806,307 | 2,532,643,872 | 2,534,023,084 | 2,537,521,169 | 2,537,435,954 | 2,538,592,467 | 2,535,395,974 | 2,533,279,845 | 2,528,805,025 | 2,527,733,606 | 2,525,943,936 | 2,531,374,696 | 2,532,058,364 | 2,530,315,668 | 2,530,034,437 | 2,529,241,070 | 2,524,101,191 | 2,536,268,760 | 2,545,984,142 | 2,560,374,643 | 2,574,644,410 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Operating income (loss) (in millions) | 3,928) | 6,048) | 5,637) | (1,967) | 5,746) | (5,163) | 3,739) | 3,439) | 4,012) | 4,925) | 5,569) | 3,576) | 4,816) | 1,614) | 2,532) | (2,249) | 3,116) | 3,129) | 3,909) | 2,567) | 2,382) | 3,399) | 3,255) | |||||||
| Operating profit per share2 | 5.39 | 6.10 | 1.68 | 0.93 | 3.06 | 2.38 | 6.35 | 7.07 | 7.13 | 7.46 | 6.16 | 4.96 | 2.66 | 1.98 | 2.58 | 3.12 | 5.03 | 4.74 | 4.86 | 4.57 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 100.73 | 112.31 | 127.51 | 128.84 | 103.38 | 106.09 | 117.68 | 109.89 | 98.75 | 87.41 | 88.01 | 76.32 | 81.61 | 75.32 | 77.70 | 74.62 | 80.46 | 81.64 | 77.12 | 79.94 | 82.92 | 84.35 | 78.18 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/OP ratio4 | 18.67 | 18.41 | 75.94 | 138.56 | 33.75 | 44.67 | 18.53 | 15.55 | 13.85 | 11.72 | 14.29 | 15.39 | 30.71 | 38.03 | 30.14 | 23.89 | 16.00 | 17.23 | 15.88 | 17.47 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 25.63 | 26.99 | 22.62 | 24.34 | 16.55 | 15.26 | 16.15 | 14.78 | 14.52 | 14.12 | 14.57 | 14.21 | 12.41 | 13.12 | 17.23 | 16.32 | 14.42 | 15.23 | 9.13 | 10.82 | — | — | — | |||||||
| Amgen Inc. | 27.68 | 27.12 | 23.97 | 19.69 | 15.45 | 13.71 | 14.25 | 13.40 | 14.89 | 14.08 | 15.88 | 16.24 | 16.73 | 17.48 | 15.26 | 14.96 | 13.82 | 15.84 | 14.22 | 13.84 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | — | — | — | 13.53 | 14.14 | 16.24 | 17.09 | 18.29 | 17.79 | 18.62 | 20.32 | 19.84 | — | — | — | — | 39.45 | 33.97 | 27.33 | 24.42 | — | — | — | |||||||
| Danaher Corp. | 39.52 | 38.14 | 37.52 | 35.64 | 23.61 | 27.01 | 21.31 | 20.97 | 20.71 | 25.91 | 26.48 | 25.14 | 32.12 | 30.83 | 32.62 | 36.91 | 46.28 | 43.09 | 35.22 | 34.47 | — | — | — | |||||||
| Eli Lilly & Co. | 79.30 | 88.66 | 99.34 | 109.75 | 93.27 | 69.42 | 59.60 | 43.88 | 46.48 | 39.20 | 36.49 | 35.70 | 37.21 | 42.01 | 31.17 | 32.66 | 22.98 | 25.58 | 24.82 | 27.08 | — | — | — | |||||||
| Gilead Sciences Inc. | 143.05 | 36.80 | 51.26 | 12.05 | 12.16 | 11.57 | 11.21 | 14.21 | 16.27 | 11.02 | 10.78 | 7.76 | 7.27 | 8.88 | 18.31 | 19.38 | 29.86 | — | 21.83 | 20.66 | — | — | — | |||||||
| Johnson & Johnson | 18.65 | 17.54 | 16.96 | 17.78 | 15.69 | 18.91 | 18.26 | 17.62 | 19.64 | 20.45 | 21.06 | 18.68 | 18.99 | 20.14 | 21.12 | 21.84 | 19.46 | 19.66 | 18.67 | 19.83 | — | — | — | |||||||
| Pfizer Inc. | 27.24 | — | — | 121.54 | 17.49 | 9.17 | 6.74 | 6.80 | 7.82 | 9.11 | 11.49 | 13.30 | 16.37 | 19.83 | 22.85 | 23.12 | 22.27 | 22.17 | 17.42 | 14.36 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 23.18 | 30.86 | 26.82 | 25.39 | 21.13 | 19.32 | 18.68 | 18.01 | 12.91 | 9.68 | 7.98 | 7.55 | 9.32 | 9.65 | 13.32 | 14.82 | 20.36 | 23.98 | 26.60 | 19.01 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 29.74 | 32.66 | 31.40 | 31.16 | 25.59 | 31.55 | 29.54 | 25.30 | 21.43 | 23.99 | 21.84 | 21.07 | 23.87 | 19.77 | 18.53 | 22.81 | 31.49 | 36.59 | 28.44 | 26.84 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
Operating profit per share
= (Operating income (loss)Q3 2024
+ Operating income (loss)Q2 2024
+ Operating income (loss)Q1 2024
+ Operating income (loss)Q4 2023)
÷ No. shares of common stock outstanding
= (3,928,000,000 + 6,048,000,000 + 5,637,000,000 + -1,967,000,000)
÷ 2,529,635,645 = 5.39
3 Closing price as at the filing date of Merck & Co. Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 100.73 ÷ 5.39 = 18.67
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/OP ratio | Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. | Merck & Co. Inc. P/OP ratio decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024. |
Price to Sales (P/S)
Merck & Co. Inc., historical P/S calculation (quarterly data)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,529,635,645 | 2,534,809,312 | 2,532,806,307 | 2,532,643,872 | 2,534,023,084 | 2,537,521,169 | 2,537,435,954 | 2,538,592,467 | 2,535,395,974 | 2,533,279,845 | 2,528,805,025 | 2,527,733,606 | 2,525,943,936 | 2,531,374,696 | 2,532,058,364 | 2,530,315,668 | 2,530,034,437 | 2,529,241,070 | 2,524,101,191 | 2,536,268,760 | 2,545,984,142 | 2,560,374,643 | 2,574,644,410 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Sales (in millions) | 16,657) | 16,112) | 15,775) | 14,631) | 15,962) | 15,035) | 14,487) | 13,830) | 14,959) | 14,593) | 15,901) | 13,521) | 13,154) | 11,402) | 10,627) | 12,514) | 12,551) | 10,872) | 12,057) | 11,867) | 12,397) | 11,760) | 10,816) | |||||||
| Sales per share2 | 24.97 | 24.65 | 24.24 | 23.74 | 23.41 | 22.98 | 22.81 | 23.35 | 23.26 | 22.57 | 21.35 | 19.27 | 18.88 | 18.60 | 18.39 | 18.97 | 18.71 | 18.66 | 19.05 | 18.47 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 100.73 | 112.31 | 127.51 | 128.84 | 103.38 | 106.09 | 117.68 | 109.89 | 98.75 | 87.41 | 88.01 | 76.32 | 81.61 | 75.32 | 77.70 | 74.62 | 80.46 | 81.64 | 77.12 | 79.94 | 82.92 | 84.35 | 78.18 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/S ratio4 | 4.03 | 4.56 | 5.26 | 5.43 | 4.42 | 4.62 | 5.16 | 4.71 | 4.25 | 3.87 | 4.12 | 3.96 | 4.32 | 4.05 | 4.23 | 3.93 | 4.30 | 4.38 | 4.05 | 4.33 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 6.38 | 6.02 | 5.32 | 5.72 | 4.52 | 4.74 | 4.60 | 4.61 | 4.44 | 4.28 | 4.76 | 4.53 | 3.73 | 3.80 | 4.07 | 4.05 | 4.10 | 4.59 | 3.64 | 4.22 | — | — | — | |||||||
| Amgen Inc. | 5.53 | 5.68 | 5.93 | 5.78 | 5.34 | 5.14 | 5.14 | 5.17 | 5.85 | 5.35 | 5.21 | 5.10 | 5.04 | 5.37 | 5.68 | 5.64 | 5.33 | 6.30 | 5.96 | 6.03 | — | — | — | |||||||
| Bristol-Myers Squibb Co. | 2.38 | 2.20 | 1.99 | 2.19 | 2.40 | 2.81 | 3.10 | 3.29 | 3.39 | 3.39 | 3.41 | 3.16 | 2.85 | 3.44 | 3.28 | 3.16 | 3.66 | 3.97 | 4.45 | 5.52 | — | — | — | |||||||
| Danaher Corp. | 7.95 | 8.10 | 7.90 | 7.76 | 5.63 | 6.77 | 5.76 | 5.79 | 5.66 | 6.59 | 6.68 | 6.37 | 7.91 | 7.72 | 7.27 | 7.01 | 8.15 | 7.48 | 6.34 | 6.29 | — | — | — | |||||||
| Eli Lilly & Co. | 19.67 | 20.64 | 20.66 | 20.77 | 17.18 | 16.78 | 13.38 | 10.96 | 11.46 | 9.99 | 9.47 | 8.01 | 8.62 | 9.16 | 6.88 | 8.06 | 5.41 | 6.26 | 6.36 | 6.03 | — | — | — | |||||||
| Gilead Sciences Inc. | 4.18 | 3.41 | 2.97 | 3.40 | 3.69 | 3.61 | 3.70 | 3.86 | 3.64 | 2.84 | 2.86 | 2.85 | 3.11 | 3.30 | 3.31 | 3.24 | 3.29 | 3.95 | 4.34 | 4.00 | — | — | — | |||||||
| Johnson & Johnson | 4.55 | 4.44 | 4.25 | 4.43 | 4.01 | 4.84 | 4.60 | 4.34 | 4.69 | 4.80 | 5.00 | 4.66 | 4.69 | 5.08 | 5.09 | 5.15 | 4.73 | 4.84 | 4.78 | 4.79 | — | — | — | |||||||
| Pfizer Inc. | 2.60 | 3.00 | 2.86 | 2.61 | 2.51 | 2.58 | 2.32 | 2.37 | 2.63 | 2.77 | 3.00 | 3.18 | 4.04 | 4.78 | 4.84 | 4.50 | 4.71 | 4.69 | 4.21 | 3.66 | — | — | — | |||||||
| Regeneron Pharmaceuticals Inc. | 6.65 | 8.93 | 7.89 | 7.84 | 6.81 | 6.61 | 6.69 | 7.01 | 5.87 | 4.66 | 4.40 | 4.20 | 5.14 | 5.20 | 5.78 | 6.24 | 7.62 | 8.31 | 8.10 | 5.34 | — | — | — | |||||||
| Thermo Fisher Scientific Inc. | 5.04 | 5.55 | 5.14 | 4.99 | 4.05 | 4.87 | 4.81 | 4.73 | 4.40 | 5.40 | 5.20 | 5.39 | 6.45 | 5.54 | 5.13 | 5.52 | 6.58 | 6.24 | 5.08 | 4.83 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
Sales per share
= (SalesQ3 2024
+ SalesQ2 2024
+ SalesQ1 2024
+ SalesQ4 2023)
÷ No. shares of common stock outstanding
= (16,657,000,000 + 16,112,000,000 + 15,775,000,000 + 14,631,000,000)
÷ 2,529,635,645 = 24.97
3 Closing price as at the filing date of Merck & Co. Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 100.73 ÷ 24.97 = 4.03
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/S ratio | An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. | Merck & Co. Inc. P/S ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |
Price to Book Value (P/BV)
Merck & Co. Inc., historical P/BV calculation (quarterly data)
| Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 2,529,635,645 | 2,534,809,312 | 2,532,806,307 | 2,532,643,872 | 2,534,023,084 | 2,537,521,169 | 2,537,435,954 | 2,538,592,467 | 2,535,395,974 | 2,533,279,845 | 2,528,805,025 | 2,527,733,606 | 2,525,943,936 | 2,531,374,696 | 2,532,058,364 | 2,530,315,668 | 2,530,034,437 | 2,529,241,070 | 2,524,101,191 | 2,536,268,760 | 2,545,984,142 | 2,560,374,643 | 2,574,644,410 | |||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||||||||
| Total Merck & Co., Inc. stockholders’ equity (in millions) | 44,502) | 43,582) | 40,364) | 37,581) | 41,246) | 38,693) | 46,834) | 45,991) | 44,458) | 43,243) | 40,883) | 38,184) | 35,794) | 33,294) | 26,945) | 25,317) | 29,186) | 27,642) | 26,205) | 25,907) | 26,838) | 27,635) | 27,539) | |||||||
| Book value per share (BVPS)2 | 17.59 | 17.19 | 15.94 | 14.84 | 16.28 | 15.25 | 18.46 | 18.12 | 17.53 | 17.07 | 16.17 | 15.11 | 14.17 | 13.15 | 10.64 | 10.01 | 11.54 | 10.93 | 10.38 | 10.21 | 10.54 | 10.79 | 10.70 | |||||||
| Share price1, 3 | 100.73 | 112.31 | 127.51 | 128.84 | 103.38 | 106.09 | 117.68 | 109.89 | 98.75 | 87.41 | 88.01 | 76.32 | 81.61 | 75.32 | 77.70 | 74.62 | 80.46 | 81.64 | 77.12 | 79.94 | 82.92 | 84.35 | 78.18 | |||||||
| Valuation Ratio | ||||||||||||||||||||||||||||||
| P/BV ratio4 | 5.73 | 6.53 | 8.00 | 8.68 | 6.35 | 6.96 | 6.38 | 6.07 | 5.63 | 5.12 | 5.44 | 5.05 | 5.76 | 5.73 | 7.30 | 7.46 | 6.97 | 7.47 | 7.43 | 7.83 | 7.87 | 7.82 | 7.31 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||||||||
| AbbVie Inc. | 58.73 | 48.87 | 36.12 | 29.97 | 20.61 | 20.62 | 19.68 | 15.52 | 16.06 | 16.76 | 16.59 | 16.53 | 15.20 | 16.23 | 14.91 | 14.18 | 10.93 | 11.31 | — | — | — | — | — | |||||||
| Amgen Inc. | 22.86 | 28.34 | 33.25 | 24.94 | 17.87 | 19.19 | 23.95 | 35.01 | 39.30 | 54.46 | 138.87 | 18.51 | 14.95 | 15.72 | 14.57 | 14.53 | 11.57 | 13.67 | 14.33 | 13.84 | 11.47 | 10.37 | 9.92 | |||||||
| Bristol-Myers Squibb Co. | 6.60 | 6.01 | 5.49 | 3.35 | 3.72 | 3.97 | 4.46 | 4.88 | 4.85 | 4.90 | 5.07 | 4.07 | 3.48 | 4.15 | 3.73 | 3.55 | 2.87 | 2.82 | 2.77 | 2.80 | 5.30 | 4.63 | 4.91 | |||||||
| Danaher Corp. | 3.68 | 3.82 | 3.51 | 3.47 | 2.78 | 3.65 | 3.33 | 3.64 | 3.77 | 4.36 | 4.36 | 4.16 | 5.11 | 4.82 | 4.46 | 3.93 | 4.38 | 3.90 | 3.68 | 3.72 | 3.02 | 3.19 | 2.88 | |||||||
| Eli Lilly & Co. | 56.45 | 59.24 | 57.94 | 65.80 | 49.10 | 44.75 | 33.11 | 29.36 | 33.27 | 34.00 | 29.75 | 25.28 | 30.85 | 38.00 | 25.41 | 35.07 | 26.02 | 35.12 | 47.73 | 51.67 | 31.28 | 39.03 | 46.37 | |||||||
| Gilead Sciences Inc. | 6.36 | 5.15 | 4.61 | 4.01 | 4.50 | 4.63 | 4.72 | 4.90 | 4.63 | 3.82 | 3.91 | 3.65 | 3.94 | 4.41 | 4.40 | 4.33 | 4.30 | 4.79 | 4.40 | 3.93 | 4.02 | 3.58 | 3.83 | |||||||
| Johnson & Johnson | 5.69 | 5.37 | 5.20 | 5.48 | 4.92 | 5.79 | 6.00 | 5.37 | 6.04 | 6.01 | 6.36 | 5.90 | 6.10 | 6.51 | 6.51 | 6.72 | 5.93 | 6.19 | 6.46 | 6.61 | 5.84 | 5.78 | 6.39 | |||||||
| Pfizer Inc. | 1.70 | 1.92 | 1.74 | 1.75 | 1.80 | 2.04 | 2.14 | 2.48 | 2.83 | 3.21 | 3.37 | 3.35 | 3.69 | 3.78 | 3.27 | 2.98 | 3.10 | 3.31 | 3.16 | 3.00 | 3.14 | 3.42 | 3.84 | |||||||
| Regeneron Pharmaceuticals Inc. | 3.14 | 4.27 | 3.83 | 3.96 | 3.58 | 3.49 | 3.52 | 3.77 | 3.75 | 3.21 | 3.65 | 3.60 | 4.04 | 4.26 | 4.44 | 4.81 | 6.21 | 7.34 | 5.33 | 3.79 | 3.48 | 3.38 | 3.74 | |||||||
| Thermo Fisher Scientific Inc. | 4.36 | 4.96 | 4.80 | 4.57 | 3.88 | 4.84 | 4.99 | 4.83 | 4.46 | 5.47 | 5.23 | 5.18 | 6.51 | 5.75 | 5.25 | 5.15 | 5.89 | 5.48 | 4.56 | 4.16 | 4.15 | 3.83 | 4.02 | |||||||
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Data adjusted for splits and stock dividends.
2 Q3 2024 Calculation
BVPS = Total Merck & Co., Inc. stockholders’ equity ÷ No. shares of common stock outstanding
= 44,502,000,000 ÷ 2,529,635,645 = 17.59
3 Closing price as at the filing date of Merck & Co. Inc. Quarterly or Annual Report.
4 Q3 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 100.73 ÷ 17.59 = 5.73
5 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/BV ratio | The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. | Merck & Co. Inc. P/BV ratio decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024. |