Merck KGaA
XETRA:MRK

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Merck KGaA
XETRA:MRK
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Price: 141.75 EUR 2.49% Market Closed
Market Cap: 61.6B EUR
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Intrinsic Value

The intrinsic value of one MRK stock under the Base Case scenario is 157.06 EUR. Compared to the current market price of 141.75 EUR, Merck KGaA is Undervalued by 10%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

MRK Intrinsic Value
157.06 EUR
Undervaluation 10%
Intrinsic Value
Price
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Base Case
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Merck KGaA

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Business Breakdown

Merck KGaA, a global science and technology company based in Darmstadt, Germany, has carved out a distinctive niche in the life sciences, healthcare, and high-performance materials sectors. With a rich history tracing back to 1668, it stands as one of the oldest pharmaceutical and chemical companies in the world. Merck KGaA operates in three primary business segments: Healthcare, Life Science, and Performance Materials. The Healthcare division focuses on innovative prescription medicines and therapies, while the Life Science segment provides essential tools and services for research and production in the life sciences. Meanwhile, the Performance Materials branch offers state-of-the-art solut...

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Merck KGaA

Current Assets 13.9B
Cash & Short-Term Investments 3.9B
Receivables 4.5B
Other Current Assets 5.6B
Non-Current Assets 36.2B
Long-Term Investments 1.1B
PP&E 9.4B
Intangibles 23.9B
Other Non-Current Assets 1.8B
Current Liabilities 10.5B
Accounts Payable 2B
Accrued Liabilities 71m
Other Current Liabilities 8.4B
Non-Current Liabilities 11.4B
Long-Term Debt 7.9B
Other Non-Current Liabilities 3.5B
Efficiency

Earnings Waterfall
Merck KGaA

Revenue
21B EUR
Cost of Revenue
-8.7B EUR
Gross Profit
12.3B EUR
Operating Expenses
-8.8B EUR
Operating Income
3.5B EUR
Other Expenses
-757m EUR
Net Income
2.7B EUR

Free Cash Flow Analysis
Merck KGaA

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

In Q3 2024, Merck achieved a 4% organic sales growth, highlighted by a remarkable 17% rise in EBITDA. The Life Science segment returned to growth with a 2% increase, while Healthcare led with a 6% boost driven by strong oncology sales. The Electronics sector grew 2%, spearheaded by semiconductor solutions at 7%. Merck confirmed its 2024 sales guidance at EUR 20.7 to 22.1 billion and EBITDA of EUR 5.8 to 6.4 billion, aiming for sales towards the lower end and EBITDA around the midpoint. Confidence in continued profitable growth into 2025 is underscored by positive market developments.

What is Earnings Call?
Fundamental Scores

MRK Profitability Score
Profitability Due Diligence

Merck KGaA's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Free Cash Flow
Positive Operating Income
Positive 3-Year Average ROE
56/100
Profitability
Score

Merck KGaA's profitability score is 56/100. The higher the profitability score, the more profitable the company is.

MRK Solvency Score
Solvency Due Diligence

Merck KGaA's solvency score is 61/100. The higher the solvency score, the more solvent the company is.

Low D/E
High Altman Z-Score
Long-Term Solvency
Short-Term Solvency
61/100
Solvency
Score

Merck KGaA's solvency score is 61/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

MRK Price Targets Summary
Merck KGaA

Wall Street analysts forecast MRK stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for MRK is 189.66 EUR with a low forecast of 161.6 EUR and a high forecast of 215.25 EUR.

Lowest
Price Target
161.6 EUR
14% Upside
Average
Price Target
189.66 EUR
34% Upside
Highest
Price Target
215.25 EUR
52% Upside
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Dividends

Dividend Yield
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Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
Very
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Safe
0
25
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100
Shareholder Yield

Current shareholder yield for MRK is .

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Shareholder Yield
Dividend Yield
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Ownership

MRK Insider Trading
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Period Sold Bought Net
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Merck KGaA Logo
Merck KGaA

Country

Germany

Industry

Pharmaceuticals

Market Cap

61.6B EUR

Dividend Yield

1.55%

Description

Merck KGaA is a science and technology company, which engages in the manufacture of pharmaceutical and chemical products. The company is headquartered in Darmstadt, Hessen and currently employs 60,334 full-time employees. The firm operates in three business segments: Healthcare, Life Sciences and Electronics. The Healthcare business, which operates in the United States and Canada as EMD Serono, focuses on such therapeutic areas as allergies, fertility, oncology and neurodegenerative diseases, developing drugs, diagnostic substances and medical devices. The Life Sciences business comprises the activities of MilliporeSigma, which provides solutions that facilitate biotechnology and pharmaceutical research. The product range includes laboratory water systems, gene editing tools, cell lines and end-to-end drug manufacturing systems, among others. The Electronics business enables digital living and provides specialty chemicals for various applications, including liquid crystals for electronic displays, materials for integrated circuits, effect pigments for coatings and color cosmetics, as well as functional materials for energy solutions.

Contact

HESSEN
Darmstadt
Frankfurter Str. 250
+496151720.0
www.merckgroup.com

IPO

1995-10-20

Employees

60 334

Officers

Chair of Executive Board & CEO
Ms. Belen Garijo Lopez M.D.
CFO & Member of Executive Board
Ms. Helene von Roeder
CEO of Electronics & Member of the Executive Board
Dr. Kai Beckmann
CEO of Healthcare Business & Member of Executive Board
Mr. Peter Guenter
CEO of Life Science Sector & Member of Executive Board
Dr. Matthias J. Heinzel
Chief Compliance Officer
Ms. Barbara Weiland
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Head of the Global HR Business Partner Organization
Mr. Dietmar Eidens
Head of Corporate & Government Relations - Europe
Mr. Frank Gotthardt
Head of Life Science Controlling
Mr. Marc Horn
Head of the Display Materials Business Unit for Performance Materials
Dr. Michael Heckmeier
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What is the Intrinsic Value of one MRK stock?

The intrinsic value of one MRK stock under the Base Case scenario is 157.06 EUR.

Is MRK stock undervalued or overvalued?

Compared to the current market price of 141.75 EUR, Merck KGaA is Undervalued by 10%.

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