Question 1

What is Merck & Co.'s P/S ratio?

Accepted Answer

Merck & Co. (MRK) P/S ratio is 4.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Merck & Co.?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Merck & Co. specifically, the relevant sector benchmark is the current sector median of 3.4×.

Question 5

Is Merck & Co.'s P/S ratio high or low?

Accepted Answer

Merck & Co.'s P/S ratio of 4.8× is above its own 5-year average of 4.2× and above the sector median of 3.4×. That places the current reading at the 81th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Merck & Co.'s historical P/S ratio range?

Accepted Answer

In the available daily series, Merck & Co. (MRK) P/S ratio has ranged from a low of 2.0× in 2011 to a high of 5.6× in 2024. The 5-year average is 4.2× and the 5-year median is 4.2×.

Question 7

What was Merck & Co.'s P/S ratio in 2025?

Accepted Answer

Merck & Co. (MRK) P/S ratio at the end of 2025 was 4.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Merck & Co.'s P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$260B	$64.9B	4.0×	+0.1×	Dec 31, 2025
2024	$253B	$64.2B	3.9×	-0.7×	Dec 31, 2024
2023	$278B	$60.1B	4.6×	-0.1×	Dec 31, 2023
2022	$281B	$59.3B	4.7×	+0.8×	Dec 31, 2022
2021	$194B	$48.7B	4.0×	-0.4×	Dec 31, 2021
2020	$197B	$44.9B	4.4×	-0.3×	Dec 31, 2020
2019	$220B	$46.8B	4.7×	+0.2×	Dec 31, 2019
2018	$189B	$42.3B	4.5×	+0.9×	Dec 31, 2018
2017	$145B	$40.1B	3.6×	-0.3×	Dec 31, 2017
2016	$154B	$39.8B	3.9×	+0.3×	Dec 31, 2016
2015	$140B	$39.5B	3.5×	-0.1×	Dec 31, 2015
2014	$154B	$42.2B	3.6×	+0.5×	Dec 31, 2014
2013	$140B	$44B	3.2×	+0.7×	Dec 31, 2013
2012	$118B	$47.3B	2.5×	+0.2×	Dec 31, 2012
2011	$109B	$48B	2.3×	-0.0×	Dec 31, 2011
2010	$106B	$46B	2.3×	-0.4×	Dec 31, 2010
2009	$73.5B	$27.4B	2.7×	+0.1×	Dec 31, 2009
2008	$61.2B	$23.9B	2.6×	-2.4×	Dec 31, 2008
2007	$120B	$24.2B	5.0×	+1.0×	Dec 31, 2007
2006	$90.2B	$22.6B	4.0×	+1.0×	Dec 31, 2006
2005	$66.3B	$22B	3.0×	+0.1×	Dec 31, 2005
2004	$67.9B	$22.9B	3.0×	-1.4×	Dec 31, 2004
2003	$98B	$22.5B	4.4×	+1.6×	Dec 31, 2003
2002	$121B	$44.3B	2.7×	—	Dec 31, 2002


Zimmer Biomet Holdings (ZBH)	2.1×
AptarGroup (ATR)	2.1×
Becton, Dickinson and (BDX)	2.1×
Charles River (CRL)	1.9×
Quest Diagnostics (DGX)	1.9×
IQVIA (IQV)	1.7×
GE HealthCare (GEHC)	1.6×
Labcorp Holdings (LH)	1.6×
HCA Healthcare (HCA)	1.4×
Solventum (SOLV)	1.4×
Viatris (VTRS)	1.1×
UnitedHealth Group (UNH)	0.8×
Baxter International (BAX)	0.8×
DaVita (DVA)	0.7×
Henry Schein (HSIC)	0.6×
Universal Health Services (UHS)	0.6×
Elevance Health (ELV)	0.4×
Teladoc Health (TDOC)	0.4×
McKesson (MCK)	0.3×
Cigna (CI)	0.3×
CVS Health (CVS)	0.2×
Cardinal Health (CAH)	0.2×
Cencora (COR)	0.2×
Humana (HUM)	0.2×
Centene (CNC)	0.1×

P/S Ratio for Merck & Co. (MRK) 2002-2026

P/S Ratio daily chart for Merck & Co. (MRK)

Historical P/S Ratio for Merck & Co. (MRK) from 2002 to 2025

About P/S Ratio at Merck & Co. (MRK)

Merck & Co. P/S Ratio by Year

Merck & Co. P/S Ratio 2025: 4.0×

Merck & Co. P/S Ratio 2024: 3.9×

Merck & Co. P/S Ratio 2023: 4.6×

Merck & Co. P/S Ratio 2022: 4.7×

Merck & Co. P/S Ratio 2021: 4.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Merck & Co. (MRK) Key Financials