Merck KGaA (XSWX:MER) Research & Development: CHF2,341 Mil (TTM As of Mar. 2026)


XSWX:MER Merck KGaA XSWX:MER
83 GF Score
Price CHF130.30
GF Value CHF125.76
! 9 Warning Signs
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What is Merck KGaA Research & Development?

Merck KGaA XSWX:MER +4.03% 83 Research & Development is CHF2,341 Mil as of Mar. 2026. 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.

Research & Development is the aggregate amount of research and development expenses during the year. Merck KGaA's Research & Development for the three months ended in Mar. 2026 was CHF599 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was CHF2,341 Mil.

Merck KGaA  (XSWX:MER) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Merck KGaA Research & Development Related Terms

Merck KGaA Research & Development Historical Data

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The historical data trend for Merck KGaA's Research & Development 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.

Merck KGaA Research & Development Chart

Merck KGaA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,524.69 2,487.89 2,305.82 2,127.70 2,253.53

Merck KGaA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 526.34 505.55 616.70 619.60 598.89
XSWX:MER
83GF Score
Merck KGaA XSWX:MER
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Merck KGaA Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development 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 CHF2,341 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.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of CHF2,341 Mil mean?
Merck KGaA (XSWX:MER) has a Research & Development of CHF2,341 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Merck KGaA and its competitors.
Is Merck KGaA's Research & Development too high?
Merck KGaA's current Research & Development is CHF2,341 Mil. 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 Research & Development compare to ZTS and UTHR?
Merck KGaA's Research & Development of CHF2,341 Mil can be compared against companies in the Drug Manufacturers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Drug Manufacturers company?
A good Research & Development depends on the Drug Manufacturers industry context. However, Research & Development 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 Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Merck KGaA and its competitors. Merck KGaA's current Research & Development is CHF2,341 Mil. 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 Research & Development of CHF2,341 Mil. 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 Research & Development is CHF2,341 Mil. 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 Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current Research & Development is CHF2,341 Mil 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 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:

  • Research & Development: CHF2,341 Mil
  • GF Value™: CHF125.76 vs. price of CHF130.30 (3.6% above fair value)
  • GF Score™: 83/100 with 9 warning signs

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 Business Description

Address Frankfurter Strasse 250, Darmstadt, HE, DEU, 64293
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

Get the complete analysis for XSWX:MER

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

CHF130.30
Price
CHF125.76
GF Value