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Held by 3,594 of 5,944 reporting institutions (100th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $147.15 today, the market must believe free cash flow compounds 13.5%/yr for a decade (off $13.2B normalized FCF).
The market's 13.5% is more optimistic than its 9-yr track record.
2-stage DCF · 2.50B shares · net debt $34.8B
mean 5.9% · volatility σ 62% · implied rate exceeded in 3/7 yrs
Central path = implied 13.5%/yr growth; shaded band = ±1σ (62%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 66% of free cash flow, leaving room to grow it and fund buybacks. Last year: $8.2B dividends + $5.1B buybacks = $13.3B returned on $12.4B FCF.
9 consecutive years of dividend increases · 7%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 18%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $14.6B covers all $13.1B of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~2.8% on $49.3B of debt.
Cash of $14.6B fully covers short-term debt of $2.6B.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $65.01B 100.0% | $64.17B 100.0% | $60.12B 100.0% | $59.28B 100.0% | $48.70B 100.0% | $41.52B 100.0% | $39.12B 100.0% | $42.29B 100.0% | $40.12B 100.0% | $39.81B 100.0% |
| Cost of Revenue | $16.38B 25.2% | $15.19B 23.7% | $16.13B 26.8% | $17.41B 29.4% | $13.63B 28.0% | $13.62B 32.8% | $12.02B 30.7% | $13.51B 31.9% | $12.91B 32.2% | $14.03B 35.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $12.78B 31.8% | $13.89B 34.9% |
| Research & Development | $15.79B 24.3% | $17.94B 28.0% | $30.53B 50.8% | $13.55B 22.9% | $12.24B 25.1% | $13.40B 32.3% | $9.72B 24.9% | $9.75B 23.1% | $10.34B 25.8% | $10.26B 25.8% |
| Selling, General & Admin | $10.73B 16.5% | $10.82B 16.9% | $10.50B 17.5% | $10.04B 16.9% | $9.63B 19.8% | $8.96B 21.6% | $9.46B 24.2% | $10.10B 23.9% | $10.07B 25.1% | $10.02B 25.2% |
| Interest Expense | $1.36B 2.1% | $1.27B 2.0% | $1.15B 1.9% | $962.0M 1.6% | $806.0M 1.7% | $831.0M 2.0% | $893.0M 2.3% | $772.0M 1.8% | $754.0M 1.9% | $693.0M 1.7% |
| Interest & Investment Income | $343.0M 0.5% | $415.0M 0.6% | $365.0M 0.6% | $157.0M 0.3% | $36.0M 0.1% | $59.0M 0.1% | $274.0M 0.7% | $343.0M 0.8% | $385.0M 1.0% | $328.0M 0.8% |
| Other Income (Expense), net | -$151.0M -0.2% | $24.0M 0.0% | -$466.0M -0.8% | -$1.50B -2.5% | $1.34B 2.8% | $890.0M 2.1% | -$129.0M -0.3% | $402.0M 1.0% | $500.0M 1.2% | -$189.0M -0.5% |
| Pretax Income | $21.07B 32.4% | $19.94B 31.1% | $1.89B 3.1% | $16.44B 27.7% | $13.88B 28.5% | $5.86B 14.1% | $7.17B 18.3% | $8.70B 20.6% | $6.52B 16.3% | $4.66B 11.7% |
| Income Tax Expense | $2.80B 4.3% | $2.80B 4.4% | $1.51B 2.5% | $1.92B 3.2% | $1.52B 3.1% | $1.34B 3.2% | $1.56B 4.0% | $2.51B 5.9% | $4.10B 10.2% | $718.0M 1.8% |
| Net Income | $18.25B 28.1% | $17.12B 26.7% | $365.0M 0.6% | $14.52B 24.5% | $12.35B 25.3% | $7.07B 17.0% | $9.84B 25.2% | $6.22B 14.7% | $2.39B 6.0% | $3.92B 9.8% |
| Per Share | ||||||||||
| EPS (Basic) | $7.30 | $6.76 | $0.14 | $5.73 | $5.16 | $2.79 | $3.84 | $2.34 | $0.88 | $1.42 |
| EPS (Diluted) | $7.28 | $6.74 | $0.14 | $5.71 | $5.14 | $2.78 | $3.81 | $2.32 | $0.87 | $1.41 |
| Weighted Avg Shares (Basic) | 2.50B | 2.53B | 2.54B | 2.53B | 2.53B | 2.53B | 2.56B | 2.66B | 2.73B | 2.77B |
| Weighted Avg Shares (Diluted) | 2.51B | 2.54B | 2.55B | 2.54B | 2.54B | 2.54B | 2.58B | 2.68B | 2.75B | 2.79B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-09-17
Nothing notable to watch.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 81th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 31.9 | 30.7 | 32.8 | 28.0 | 29.4 | 26.8 | 23.7 | 25.2 |
| R&D | 23.1 | 24.9 | 32.3 | 25.1 | 22.9 | 50.8 | 28.0 | 24.3 |
| SG&A | 23.9 | 24.2 | 21.6 | 19.8 | 16.9 | 17.5 | 16.9 | 16.5 |
| Income Tax | 5.9 | 4.0 | 3.2 | 3.1 | 3.2 | 2.5 | 4.4 | 4.3 |
| Net Income | 14.7 | 25.2 | 17.0 | 25.3 | 24.5 | 0.6 | 26.7 | 28.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MRK: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
Peers = companies sharing MRK's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.