Merck KGaAXSWX:MER +4.03%83 EV-to-FCF is 32.01 as of Jun. 29, 2026, which is 4% below its 10-year median of 33.26. GuruFocus rates XSWX:MER with a GF Score™ of 83/100 and a GF Value™ of CHF125.76. The stock has 9 warning signs investors should review. Among 559 Drug Manufacturers companies, Merck KGaA ranks worse than 62.79% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Merck KGaA's Enterprise Value is CHF66,015 Mil.
Merck KGaA's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was CHF2,063 Mil. Therefore, Merck KGaA's EV-to-FCF for today is 32.01.
The historical rank and industry rank for Merck KGaA's EV-to-FCF or its related term are showing as below:
XSWX:MER'
s EV-to-FCF Range Over the Past 10 Years
Min: 25.26 Med: 33.26 Max: 51.67
Current: 32.36
During the past 13 years, the highest EV-to-FCF of Merck KGaA was 51.67. The lowest was 25.26. And the median was 33.26.
XSWX:MER's EV-to-FCF is ranked worse than 62.79% of 559
companies
in the Drug Manufacturers industry
Industry Median: 20.02
vs XSWX:MER: 32.36
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Merck KGaA EV-to-FCF Related Terms
Merck KGaA EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Merck KGaA's EV-to-FCF 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.
For the Drug Manufacturers - Specialty & Generic subindustry, Merck KGaA's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Merck KGaA's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Merck KGaA's EV-to-FCF falls into.
Merck KGaA's current Enterprise Value is CHF66,015 Mil.
Merck KGaA's Free Cash Flow 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 CHF2,063 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-FCF of 32.01 as of Jun. 29, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Merck KGaA and its competitors. This is near median its historical median of 33.26. Over the past decade, Merck KGaA's EV-to-FCF has ranged from 25.26 to 51.67. According to the industry distribution chart, Merck KGaA ranks #351 out of 559 companies in the Drug Manufacturers industry, placing it in the top 62.8%.
Is Merck KGaA's EV-to-FCF too high?
Merck KGaA's current EV-to-FCF of 32.01 is near median its 10-year median of 33.26. Over the past 10 years, this metric has ranged from a low of 25.26 to a high of 51.67. The Drug Manufacturers industry median EV-to-FCF is 20.02. Merck KGaA's value of 32.01 is 59.9% above this industry median. Based on the distribution chart, Merck KGaA ranks #351 out of 559 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, Merck KGaA has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Merck KGaA's EV-to-FCF compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Merck KGaA ranks #351 out of 559 companies for EV-to-FCF. This places Merck KGaA in the lower half of its industry. The industry median EV-to-FCF is 20.02. Merck KGaA's value of 32.01 is 59.9% above this benchmark. Historically, Merck KGaA's own EV-to-FCF has ranged from 25.26 to 51.67 over the past decade. While the company's 10-year median is 33.26 vs. the industry median of 20.02, Merck KGaA has consistently been above 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-FCF for a Drug Manufacturers company?
The median EV-to-FCF among Drug Manufacturers companies is 20.02, based on 559 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merck KGaA's current EV-to-FCF of 32.01 is 59.9% above 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Merck KGaA and its competitors. For the Drug Manufacturers industry, the median EV-to-FCF is 20.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merck KGaA's current EV-to-FCF is 32.01, which is near median its own 10-year median of 33.26. 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-FCF of 32.01. The stock's GF Value™ is CHF125.76, compared to a current price of CHF130.30 — trading 3.6% above its estimated fair value. The current EV-to-FCF is 32.01, which is near median its 10-year median of 33.26 and 59.9% above the Drug Manufacturers industry median of 20.02. Merck KGaA's overall GF Score™ is 83/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current EV-to-FCF is 32.01 as of Jun. 29, 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 overvalued.
The current stock price of CHF130.30 is trading 3.6% above its estimated GF Value™ of CHF125.76.
Key valuation signals for XSWX:MER:
EV-to-FCF: 32.01 (near median its 10-year median of 33.26)
GF Value™: CHF125.76 vs. price of CHF130.30 (3.6% above fair value)
Industry Position: 59.9% above the Drug Manufacturers median (#351 of 559)
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.
83GF Score
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