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Merck & Co., Inc.

MRK Healthcare Drug Manufacturers General

Merck & Co., Inc.’s revenue for fiscal 2025 (year ended December 2025) was $65.0 billion, up 1.31% from fiscal 2024.

Revenue
+4.68%
EPS
−130.7%
Free cash flow
+77.0%
Total debt
+50.4%

Quarter to September 2026, against a year earlier

146.97 0.03 +0.02%
Market cap
$362.5B
P/E
118×
Fwd P/E
109×
Dividend yield
2.31%
F-score
4/9
Altman Z
3.77
Beneish M
−2.27
Dividend safety
74/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Merck & Co., Inc. (MRK) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Merck & Co., Inc. (MRK) trades at a EV/EBITDA of 29.7×. Over the past ten years it has ranged from 8.4× (May 2025) to 52.9× (March 2024); the current reading is higher than 92% of that period. That is above the Drug Manufacturers General industry median of 14.8× and above the Healthcare sector median of 8.4×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 10.6× (4.11%)
FY2024 11.0× (76.01%)
FY2023 46.0× 243.62%
FY2022 13.4× 1.45%
FY2021 13.2× (45.09%)
FY2020 24.0× 13.69%
FY2019 21.1× 37.04%
FY2018 15.4× 9.89%
FY2017 14.0× (9.72%)
FY2016 15.5× 42.05%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 29.4× 11.49%
Jun 2026 26.4× 49.84%
Mar 2026 17.6× 66.44%
Dec 2025 10.6× 23.35%
43 more quarters

Against its own ten years

Low 8.4× High 52.9×
Ten-year median 15.2×
Current reading's percentile 92

EV/EBITDA against peers

Company EV/EBITDA
NVO Novo Nordisk A/S compare 7.3×
PFE Pfizer Inc. compare 10.9×
AZN AstraZeneca PLC compare 14.8×
NVS Novartis AG compare 15.6×
AMGN Amgen Inc. compare 17.6×
ABBV AbbVie Inc. compare 20.1×
JNJ Johnson & Johnson compare 24.4×
MRK Merck & Co., Inc. 29.7×
GILD Gilead Sciences, Inc. compare 505×
Drug Manufacturers General industry median 14.8×
Healthcare sector median 8.4×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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