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Merck KGaAXSWX:MER 84 Shiller PE Ratio is 21.25 as of Aug. 21, 2026, which is 32% below its 10-year median of 31.19. GuruFocus rates XSWX:MER with a GF Score™ of 84/100 and a GF Value™ of CHF135.81. The stock has 10 warning signs investors should review. Among 530 Drug Manufacturers companies, Merck KGaA ranks better than 61.32% on this metric.
As of today (2026-08-21), Merck KGaA's current share price is CHF130.50. Merck KGaA's E10 for the quarter that ended in Mar. 2026 was CHF6.14. Merck KGaA's Shiller PE Ratio for today is 21.25.
The historical rank and industry rank for Merck KGaA's Shiller PE Ratio or its related term are showing as below:
XSWX:MER'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 15.41 Med: 31.19 Max: 53.24
Current: 19.96
During the past years, Merck KGaA's highest Shiller PE Ratio was 53.24. The lowest was 15.41. And the median was 31.19.
XSWX:MER's Shiller PE Ratio is ranked better than 61.32% of 530
companies
in the Drug Manufacturers industry
Industry Median: 26.105
vs XSWX:MER: 19.96
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Merck KGaA's adjusted earnings per share data for the three months ended in Mar. 2026 was CHF1.383. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is CHF6.14 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Merck KGaA (XSWX:MER) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Merck KGaA Shiller PE Ratio Related Terms
Merck KGaA Shiller PE Ratio Historical Data
* Premium members only.
The historical data trend for Merck KGaA's Shiller PE Ratio 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: Shiller PE Ratio Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Merck KGaA's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Merck KGaA's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Merck KGaA's Shiller PE Ratio falls into.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
Merck KGaA's Shiller PE Ratio for today is calculated as
* 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's E10 for the quarter that ended in Mar. 2026 is calculated as:
For example, Merck KGaA's adjusted earnings per share data for the three months ended in Mar. 2026 was:
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Merck KGaA (XSWX:MER) has a Shiller PE Ratio of 21.25 as of Aug. 21, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Merck KGaA and its competitors. This is 32% below median its historical median of 31.19. Over the past decade, Merck KGaA's Shiller PE Ratio has ranged from 15.41 to 53.24. According to the industry distribution chart, Merck KGaA ranks #205 out of 530 companies in the Drug Manufacturers industry, placing it in the top 38.7%.
Is Merck KGaA's Shiller PE Ratio too high?
Merck KGaA's current Shiller PE Ratio of 21.25 is 32% below median its 10-year median of 31.19. Over the past 10 years, this metric has ranged from a low of 15.41 to a high of 53.24. The Drug Manufacturers industry median Shiller PE Ratio is 26.11. Merck KGaA's value of 21.25 is 18.6% below this industry median. Based on the distribution chart, Merck KGaA ranks #205 out of 530 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 Shiller PE Ratio compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Merck KGaA ranks #205 out of 530 companies for Shiller PE Ratio. This puts Merck KGaA in the upper half of its industry. The industry median Shiller PE Ratio is 26.11. Merck KGaA's value of 21.25 is 18.6% below this benchmark. Historically, Merck KGaA's own Shiller PE Ratio has ranged from 15.41 to 53.24 over the past decade. While the company's 10-year median is 31.19 vs. the industry median of 26.11, 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 Shiller PE Ratio for a Drug Manufacturers company?
The median Shiller PE Ratio among Drug Manufacturers companies is 26.11, based on 530 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Merck KGaA's current Shiller PE Ratio of 21.25 is 18.6% 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Merck KGaA and its competitors. For the Drug Manufacturers industry, the median Shiller PE Ratio is 26.11 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merck KGaA's current Shiller PE Ratio is 21.25, which is 32% below median its own 10-year median of 31.19. 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 Shiller PE Ratio of 21.25. The stock's GF Value™ is CHF135.81, compared to a current price of CHF130.50 — trading 3.9% below its estimated fair value. The current Shiller PE Ratio is 21.25, which is 32% below median its 10-year median of 31.19 and 18.6% below the Drug Manufacturers industry median of 26.11. 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 Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Merck KGaA (XSWX:MER), the current Shiller PE Ratio is 21.25 as of Aug. 21, 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 3.9% below its estimated GF Value™ of CHF135.81.
Key valuation signals for XSWX:MER:
Shiller PE Ratio: 21.25 (32% below median its 10-year median of 31.19)
GF Value™: CHF135.81 vs. price of CHF130.50 (3.9% below fair value)
Industry Position: 18.6% below the Drug Manufacturers median (#205 of 530)
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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