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Merck KGaAXSWX:MER 84 Intrinsic Value: Projected FCF is CHF96.70 as of Aug. 31, 2026. 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 632 Drug Manufacturers companies, Merck KGaA ranks better than 58.7% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-08-31), Merck KGaA's Intrinsic Value: Projected FCF is CHF96.70. The stock price of Merck KGaA is CHF130.50. Therefore, Merck KGaA's Price-to-Intrinsic-Value-Projected-FCF of today is 1.4.
The historical rank and industry rank for Merck KGaA's Intrinsic Value: Projected FCF or its related term are showing as below:
XSWX:MER'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.04 Med: 1.41 Max: 2.63
Current: 1.35
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Merck KGaA was 2.63. The lowest was 1.04. And the median was 1.41.
XSWX:MER's Price-to-Projected-FCF is ranked better than 58.7% of 632
companies
in the Drug Manufacturers industry
Industry Median: 1.575
vs XSWX:MER: 1.35
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Merck KGaA's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
130.50
/
48.171888466919
=
2.71
* 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 Intrinsic Value: Projected FCF Related Terms
Merck KGaA Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Merck KGaA's Intrinsic Value: Projected 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.
XSWX:MER vs ZTS, UTHR, VTRS: Intrinsic Value: Projected FCF Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Merck KGaA's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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 Price-to-Projected-FCF vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Merck KGaA's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Merck KGaA's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of CHF96.70 mean?
Merck KGaA (XSWX:MER) has a Intrinsic Value: Projected FCF of CHF96.70 as of Aug. 31, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Merck KGaA and its competitors. According to the industry distribution chart, Merck KGaA ranks #261 out of 632 companies in the Drug Manufacturers industry, placing it in the top 41.3%.
Is Merck KGaA's Intrinsic Value: Projected FCF too high?
Merck KGaA's current Intrinsic Value: Projected FCF is CHF96.70. Based on the distribution chart, Merck KGaA ranks #261 out of 632 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 Intrinsic Value: Projected FCF compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Merck KGaA ranks #261 out of 632 companies for Intrinsic Value: Projected FCF. This puts Merck KGaA in the upper half of its industry. The industry median Intrinsic Value: Projected FCF is 1.58. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Drug Manufacturers company?
The median Intrinsic Value: Projected FCF among Drug Manufacturers companies is 1.58, based on 632 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Merck KGaA and its competitors. For the Drug Manufacturers industry, the median Intrinsic Value: Projected FCF is 1.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merck KGaA's current Intrinsic Value: Projected FCF is CHF96.70. 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 Intrinsic Value: Projected FCF of CHF96.70. 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 Intrinsic Value: Projected FCF is CHF96.70. 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 Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current Intrinsic Value: Projected FCF is CHF96.70 as of Aug. 31, 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:
Intrinsic Value: Projected FCF: CHF96.70
GF Value™: CHF132.45 vs. price of CHF130.50 (1.5% below fair value)
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
Get the complete analysis for XSWX:MER
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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