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Merck KGaAXSWX:MER 84 Cash-to-Debt is 0.31 as of Mar. 2026, which is 94% above its 10-year median of 0.16. GuruFocus rates XSWX:MER with a GF Score™ of 84/100 and a GF Value™ of CHF132.45. The stock has 10 warning signs investors should review. Among 979 Drug Manufacturers companies, Merck KGaA ranks worse than 70.17% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Merck KGaA's cash to debt ratio for the quarter that ended in Mar. 2026 was 0.31.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Merck KGaAcouldn't pay off its debt using the cash in hand for the quarter that ended in Mar. 2026.
The historical rank and industry rank for Merck KGaA's Cash-to-Debt or its related term are showing as below:
XSWX:MER'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.05 Med: 0.16 Max: 0.43
Current: 0.31
During the past 13 years, Merck KGaA's highest Cash to Debt Ratio was 0.43. The lowest was 0.05. And the median was 0.16.
XSWX:MER's Cash-to-Debt is ranked worse than 70.17% of 979
companies
in the Drug Manufacturers industry
Industry Median: 0.97
vs XSWX:MER: 0.31
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Merck KGaA Cash-to-Debt Related Terms
Merck KGaA Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Merck KGaA's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
XSWX:MER vs ZTS, UTHR, VTRS: Cash-to-Debt Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Merck KGaA's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Merck KGaA Cash-to-Debt vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Merck KGaA's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Merck KGaA's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Merck KGaA (XSWX:MER) has a Cash-to-Debt of 0.31 as of Mar. 2026. This is 94% above median its historical median of 0.16. Over the past decade, Merck KGaA's Cash-to-Debt has ranged from 0.05 to 0.43. According to the industry distribution chart, Merck KGaA ranks #687 out of 979 companies in the Drug Manufacturers industry, placing it in the top 70.2%.
Is Merck KGaA's Cash-to-Debt too high?
Merck KGaA's current Cash-to-Debt of 0.31 is 94% above median its 10-year median of 0.16. Over the past 10 years, this metric has ranged from a low of 0.05 to a high of 0.43. The Drug Manufacturers industry median Cash-to-Debt is 0.97. Merck KGaA's value of 0.31 is 68% below this industry median. Based on the distribution chart, Merck KGaA ranks #687 out of 979 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Merck KGaA has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Merck KGaA's Cash-to-Debt compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Merck KGaA ranks #687 out of 979 companies for Cash-to-Debt. This places Merck KGaA in the lower half of its industry. The industry median Cash-to-Debt is 0.97. Merck KGaA's value of 0.31 is 68% below this benchmark. Historically, Merck KGaA's own Cash-to-Debt has ranged from 0.05 to 0.43 over the past decade. While the company's 10-year median is 0.16 vs. the industry median of 0.97, Merck KGaA has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for a Drug Manufacturers company?
The median Cash-to-Debt among Drug Manufacturers companies is 0.97, based on 979 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merck KGaA's current Cash-to-Debt of 0.31 is 68% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Drug Manufacturers industry, the median Cash-to-Debt is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merck KGaA's current Cash-to-Debt is 0.31, which is 94% above median its own 10-year median of 0.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merck KGaA stock overvalued right now?
Merck KGaA (XSWX:MER) has a current Cash-to-Debt of 0.31. The stock's GF Value™ is CHF132.45, compared to a current price of CHF130.50 — trading 1.5% below its estimated fair value. The current Cash-to-Debt is 0.31, which is 94% above median its 10-year median of 0.16 and 68% below the Drug Manufacturers industry median of 0.97. Merck KGaA's overall GF Score™ is 84/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current Cash-to-Debt is 0.31 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Merck KGaA (XSWX:MER) Overvalued in 2026?
Based on GuruFocus' analysis, Merck KGaA stock appears to be undervalued.
The current stock price of CHF130.50 is trading 1.5% below its estimated GF Value™ of CHF132.45.
Key valuation signals for XSWX:MER:
Cash-to-Debt: 0.31 (94% above median its 10-year median of 0.16)
GF Value™: CHF132.45 vs. price of CHF130.50 (1.5% below fair value)
Industry Position: 68% below the Drug Manufacturers median (#687 of 979)
No single metric tells the full story. See the XSWX:MER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Merck KGaA operates in three main segments: Life Science, Electronics, and Healthcare. The Life Science segment provides laboratory consumables and instruments to researchers in academia and applied fields, including the biopharmaceutical industry. The Electronics segment offers specialty materials to manufacture a variety of products, such as semiconductors and flat-screen televisions. In the healthcare segment, Merck develops, manufactures, and sells branded pharmaceuticals with significant therapeutic concentrations in oncology, multiple sclerosis, and fertility. In 1995, the E. Merck KG family publicly sold part of the company, resulting in the current 30% public ownership of the firm.
84GF Score
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