Merck Stock vs Competition: Who Wins?
Merck‘s stock delivered moderate returns over the past year (8%), lagging top peers like JNJ and ABBV. A closer look as of November 25, 2025, reveals strong operating profitability (34.8%) and a moderate valuation (P/E 13.85) compared to most rivals. However, its modest revenue growth (1.68%) suggests potential hurdles in rapidly scaling within the evolving pharmaceutical sector, especially with momentum favoring pure-plays in AI-driven drug discovery and emerging therapies.
- MRK has the highest 34.9% operating margin among peers, propelled by strong patent-protected drug sales like Keytruda.
- MRK’s 1.7% revenue growth lags JNJ, ABBV, PFE due to pipeline challenges, but it surpasses BMY’s portfolio transition efforts.
- MRK’s stock gained 8.3% at a 13.9 PE, while JNJ and ABBV saw stronger returns, reflecting their robust pipeline and strategic acquisitions.
Here’s how Merck stacks up across size, valuation, and profitability versus key peers.
| MRK | JNJ | ABBV | PFE | BMY | |
|---|---|---|---|---|---|
| Market Cap ($ Bil) | 263.6 | 497.7 | 410.1 | 146.2 | 99.9 |
| Revenue ($ Bil) | 64.2 | 92.1 | 59.6 | 62.8 | 48.0 |
| PE Ratio | 13.9 | 19.8 | 171.7 | 14.9 | 16.5 |
| LTM Revenue Growth | 1.7% | 5.1% | 7.4% | 3.9% | 1.3% |
| LTM Operating Margin | 34.9% | 26.2% | 24.1% | 24.6% | 23.8% |
| LTM FCF Margin | 20.3% | 20.3% | 33.0% | 16.5% | 31.9% |
| 12M Market Return | 8.3% | 37.8% | 35.5% | 5.4% | -12.4% |
For more details on Merck, read Buy or Sell MRK Stock. Below we compare MRK’s growth, margin, and valuation with peers across years
Revenue Growth Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MRK | 1.7% | 6.7% | 1.4% | 21.7% |
| JNJ | 5.1% | 4.3% | 6.5% | 1.6% |
| ABBV | 7.4% | 3.7% | -6.4% | 3.3% |
| PFE | 3.9% | 6.8% | -41.1% | 24.5% |
| BMY | 1.3% | 7.3% | -2.5% | -0.5% |
Operating Margin Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MRK | 34.9% | 31.5% | 4.9% | 30.8% |
| JNJ | 26.2% | 24.9% | 27.5% | 26.3% |
| ABBV | 24.1% | 21.1% | 24.9% | 32.4% |
| PFE | 24.6% | 23.3% | 7.1% | 36.7% |
| BMY | 23.8% | 12.2% | 18.2% | 19.7% |
PE Ratio Comparison
| LTM | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| MRK | 13.9 | 14.7 | 757.8 | 19.3 |
| JNJ | 19.8 | 24.8 | 11.3 | 25.8 |
| ABBV | 171.7 | 73.5 | 56.3 | 24.2 |
| PFE | 14.9 | 18.7 | 76.7 | 9.2 |
| BMY | 16.5 | -12.8 | 13.2 | 24.2 |
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