Merck & Co., Inc. (MRK)
Pharmaceutical Preparations
Latest Price
$144.85
TTM P/E
115.88
Normalized P/E
34.67
Div Yield
2.32%
Book Value
16.97
P/B Ratio
8.54
Valuation metrics
adjust assumptions →EPS: $7.28
Book value / share: $20.98
Formula: √(22.5 × EPS × BVPS)
Graham Number
$58.63
60% downside
Norm. op. income: $14.7B (median of 7yr)
Tax rate: 14%
Discount rate: 10%
Growth assumption: zero (EPV is a no-growth value)
Earnings Power Value
$36.69
75% downside
Base FCF: $12.4B (median of recent 5yr)
Growth: 5%/yr (median YOY, capped at 25%)
Discount rate: 10%
Terminal growth: 3%
Projection horizon: 10 years
DCF Fair Value
$70.20
52% downside
EPS: $7.28
Target P/E: 35×
Formula: EPS × P/E
P/E Fair Value
$254.80
+76% upside
Institutional Ownership
81.3% held by institutions| Institution | Shares | Value | Ownership % | Change | Filing Date |
|---|---|---|---|---|---|
| BlackRock, Inc. | 227.00M | $29.17B | 9.19% | +1.07M | 2026-06-30 |
| VANGUARD CAPITAL MANAGEMENT LLC | 161.32M | $20.73B | 6.53% | +335.6K | 2026-06-30 |
| STATE STREET CORP | 120.41M | $15.57B | 4.87% | +1.09M | 2026-06-30 |
| WELLINGTON MANAGEMENT GROUP LLP | 86.25M | $11.08B | 3.49% | +1.93M | 2026-06-30 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 67.74M | $8.70B | 2.74% | +434.7K | 2026-06-30 |
| GEODE CAPITAL MANAGEMENT, LLC | 60.74M | $7.79B | 2.46% | +1.19M | 2026-06-30 |
| Sixth Street Partners Management Company, L.P. | 54.37M | $6.99B | 2.20% | -- | 2026-06-30 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 54.37M | $6.99B | 2.20% | +4.60M | 2026-06-30 |
| MORGAN STANLEY | 48.64M | $6.25B | 1.97% | +1.01M | 2026-06-30 |
| FMR LLC | 45.44M | $5.84B | 1.84% | +924.3K | 2026-06-30 |