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Merck KGaAXSWX:MER 84 EV-to-EBITDA is 11.26 as of Jul. 19, 2026, which is 13% below its 10-year median of 13.00. GuruFocus rates XSWX:MER with a GF Score™ of 84/100 and a GF Value™ of CHF134.55. The stock has 10 warning signs investors should review. Among 741 Drug Manufacturers companies, Merck KGaA ranks better than 55.47% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Merck KGaA's enterprise value is CHF62,300 Mil.
Merck KGaA's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was CHF5,532 Mil. Therefore, Merck KGaA's EV-to-EBITDA for today is 11.26.
The historical rank and industry rank for Merck KGaA's EV-to-EBITDA or its related term are showing as below:
XSWX:MER'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 9.05 Med: 13 Max: 19.13
Current: 11.35
During the past 13 years, the highest EV-to-EBITDA of Merck KGaA was 19.13. The lowest was 9.05. And the median was 13.00.
XSWX:MER's EV-to-EBITDA is ranked better than 55.47% of 741
companies
in the Drug Manufacturers industry
Industry Median: 13.03
vs XSWX:MER: 11.35
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Merck KGaA (XSWX:MER) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Merck KGaA's share price for today is CHF130.30.
Merck KGaA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF5.415.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Merck KGaA's EV-to-EBITDA 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.
XSWX:MER vs ZTS, UTHR, VTRS: EV-to-EBITDA Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Merck KGaA's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Merck KGaA's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Merck KGaA's EV-to-EBITDA falls into.
Merck KGaA's current Enterprise Value is CHF62,300 Mil.
Merck KGaA's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was CHF5,532 Mil.
* 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 EV-to-EBITDA of 11.26 as of Jul. 19, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Merck KGaA. This is 13% below median its historical median of 13.00. Over the past decade, Merck KGaA's EV-to-EBITDA has ranged from 9.05 to 19.13. According to the industry distribution chart, Merck KGaA ranks #330 out of 741 companies in the Drug Manufacturers industry, placing it in the top 44.5%.
Is Merck KGaA's EV-to-EBITDA too high?
Merck KGaA's current EV-to-EBITDA of 11.26 is 13% below median its 10-year median of 13.00. Over the past 10 years, this metric has ranged from a low of 9.05 to a high of 19.13. The Drug Manufacturers industry median EV-to-EBITDA is 13.03. Merck KGaA's value of 11.26 is 13.6% below this industry median. Based on the distribution chart, Merck KGaA ranks #330 out of 741 companies in the Drug Manufacturers industry, which is above 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 EV-to-EBITDA compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Merck KGaA ranks #330 out of 741 companies for EV-to-EBITDA. This puts Merck KGaA in the upper half of its industry. The industry median EV-to-EBITDA is 13.03. Merck KGaA's value of 11.26 is 13.6% below this benchmark. Historically, Merck KGaA's own EV-to-EBITDA has ranged from 9.05 to 19.13 over the past decade. While the company's 10-year median is 13.00 vs. the industry median of 13.03, 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 EV-to-EBITDA for a Drug Manufacturers company?
The median EV-to-EBITDA among Drug Manufacturers companies is 13.03, based on 741 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merck KGaA's current EV-to-EBITDA of 11.26 is 13.6% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Merck KGaA. For the Drug Manufacturers industry, the median EV-to-EBITDA is 13.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merck KGaA's current EV-to-EBITDA is 11.26, which is 13% below median its own 10-year median of 13.00. 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 EV-to-EBITDA of 11.26. The stock's GF Value™ is CHF134.55, compared to a current price of CHF130.30 — trading 3.2% below its estimated fair value. The current EV-to-EBITDA is 11.26, which is 13% below median its 10-year median of 13.00 and 13.6% below the Drug Manufacturers industry median of 13.03. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current EV-to-EBITDA is 11.26 as of Jul. 19, 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 CHF130.30 is trading 3.2% below its estimated GF Value™ of CHF134.55.
Key valuation signals for XSWX:MER:
EV-to-EBITDA: 11.26 (13% below median its 10-year median of 13.00)
GF Value™: CHF134.55 vs. price of CHF130.30 (3.2% below fair value)
Industry Position: 13.6% below the Drug Manufacturers median (#330 of 741)
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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