MRK
Merck
PE ratio, current and historical analysis
- Stocks
- Healthcare
- NYSE: MRK
- PE Ratio
As at Jun 9, 2026, the MRK stock has a PE ratio of 33.5. This is based on the current EPS of $3.57 and the stock price of $119.6 per share. An increase of 88% has been recorded in the PE ratio compared to the average of 17.8 of the last four quarters.
MRK PE ratio history
The mean historical PE ratio of Merck over the last ten years is 54.9. The current 33.5 P/E ratio is 39% lower than the historical average. In the past ten years, MRK's PE ratio peaked in the Dec 2023 quarter at 778.71, with a price of $109.02 and an EPS of $0.14. The Sep 2025 quarter marked the lowest point at 11.09, with a price of $83.93 and an EPS of $7.57.
Merck PE ratio by year
Maximum annual increase: 3,922.26% in 2023
Maximum annual decrease: -98.11% in 2024
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 14.42 | -2.04% | $105.26 | $7.3 |
| 2024 | 14.72 | -98.11% | $99.48 | $6.76 |
| 2023 | 778.71 | 3,922.26% | $109.02 | $0.14 |
| 2022 | 19.36 | 30.37% | $110.95 | $5.73 |
| 2021 | 14.85 | -49.35% | $76.64 | $5.16 |
| 2020 | 29.32 | 23.82% | $81.8 | $2.79 |
| 2019 | 23.68 | -27.47% | $90.95 | $3.84 |
| 2018 | 32.65 | -48.94% | $76.41 | $2.34 |
| 2017 | 63.94 | 54.22% | $56.27 | $0.88 |
| 2016 | 41.46 | 24.02% | $58.87 | $1.42 |
| 2015 | 33.43 | 142.6% | $52.82 | $1.58 |
| 2014 | 13.78 | -58.98% | $56.79 | $4.12 |
| 2013 | 33.59 | 66.53% | $50.05 | $1.49 |
| 2012 | 20.17 | 9.15% | $40.94 | $2.03 |
| 2011 | 18.48 | -85.64% | $37.7 | $2.04 |
Merck PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 33.69 | 133.63% | $120.29 | $3.57 |
| Dec 2025 | 14.42 | 30.03% | $105.26 | $7.3 |
| Sep 2025 | 11.09 | -8.95% | $83.93 | $7.57 |
| Jun 2025 | 12.18 | -6.52% | $79.16 | $6.5 |
| Mar 2025 | 13.03 | -11.48% | $89.76 | $6.89 |
| Dec 2024 | 14.72 | -37.92% | $99.48 | $6.76 |
| Sep 2024 | 23.71 | 3.63% | $113.56 | $4.79 |
| Jun 2024 | 22.88 | -84.22% | $123.8 | $5.41 |
| Mar 2024 | 145 | -81.38% | $131.95 | $0.91 |
| Dec 2023 | 778.71 | 1,269.04% | $109.02 | $0.14 |
| Sep 2023 | 56.88 | -39.86% | $102.95 | $1.81 |
| Jun 2023 | 94.58 | 356.03% | $115.39 | $1.22 |
| Mar 2023 | 20.74 | 7.13% | $106.39 | $5.13 |
| Dec 2022 | 19.36 | 35.57% | $110.95 | $5.73 |
| Sep 2022 | 14.28 | 2.73% | $86.12 | $6.03 |
MRK Price vs fair value
MRK average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
The current PE ratio of MRK is lower than the 3, 5 and 10-year averages.
PE comparison
With a P/E of 33.5, MRK stands above the Healthcare sector, the industry and its peers average. In comparison with its Healthcare sector average of 24.1, Merck's P/E is 39% higher.
MRK PE vs peers
MRK's PE ratio stands lower than its peer stock LLY, but it is higher than JNJ's and NVS's. Merck is presently trading at a higher PE ratio (33.5) than its peer group average of 24.85.
| Stock name | PE ratio | Market cap |
|---|---|---|
| BMY Bristol Myers Squibb Co | 15.82 | $115.34B |
| PFE Pfizer Inc | 19.62 | $146.48B |
| NVS Novartis AG | 21.24 | $284.53B |
| AMGN Amgen Inc | 23.8 | $185.96B |
| TEVA Teva Pharmaceutical Industries Ltd | 25.15 | $40.11B |
| ABT Abbott Laboratories | 25.42 | $158.94B |
| JNJ Johnson & Johnson | 27.15 | $570.51B |
| MRK Merck & Co Inc | 33.5 | $295.39B |
| LLY ELI LILLY & Co | 40.61 | $1.08T |
Frequently asked questions
What is Merck's PE ratio?
As of Jun 9, 2026, MRK stock has a price to earnings ratio of 33.5.
What is the 3-year average PE ratio for Merck (MRK)?
The average PE ratio for MRK stock over the past 3 years is 101.74.
What is the 5-year average PE ratio for Merck (MRK)?
The average PE ratio for MRK stock over the past 5 years is 69.02.
What is the highest PE ratio for MRK?
Over the last ten years, the quarterly PE ratio reached a historic high of 778.71 in the Dec 2023 quarter.
How does the current PE ratio for MRK compare to its historical average?
MRK's current price to earnings ratio is 39% below its 10-year historical average.
How is MRK's PE ratio calculated (Merck PE ratio formula)?
To determine the P/E ratio, divide the latest stock price by the TTM earnings per share (EPS). As of today (Jun 9, 2026), Merck's stock price is $119.6. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $3.57. Therefore, Merck's PE ratio for today is 33.5. PE RATIO(33.5) = STOCK PRICE($119.6) / TTM EPS($3.57)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.