	2024	2025	2026	2027	2028
Revenue	21,389	22,566	23,718	24,820	25,893
Dividend	2.31	2.48	2.63	2.58	-
Dividend Yield (in %)	1.47 %	1.58 %	1.68 %	1.64 %	1.60 %
EPS	8.90	10.03	10.98	11.78	12.35
P/E Ratio	17.61	15.63	14.29	13.31	12.69
EBIT	4,235	4,897	5,306	5,370	5,701
EBITDA	6,039	6,662	7,194	7,522	7,801
Net Profit	3,852	4,302	4,694	5,004	5,113
Net Profit Adjusted	3,852	4,302	4,694	5,004	5,113
Pre-Tax Profit	4,059	4,730	5,243	5,440	5,876
Pre-Tax Profit Reported	3,793	4,482	4,908	5,440	5,876
EPS (Non-GAAP) ex. SOE	-	-	-	-	-
EPS (GAAP)	7.00	8.22	9.05	10.04	11.07
Gross Income	12,632	13,583	14,136	15,236	15,960
Cash Flow from Investing	-1,877	-1,680	-1,551	-1,577	-1,546
Cash Flow from Operations	5,114	5,355	5,785	6,341	6,672
Cash Flow from Financing	-1,689	-1,899	-1,768	-1,737	-1,796
Cash Flow per Share	11.57	11.74	12.95	13.21	14.26
Free Cash Flow	2,947	3,221	3,736	3,816	3,919
Free Cash Flow per Share	7.18	7.23	8.20	8.08	9.01
Book Value per Share	66.38	72.15	78.57	85.01	-
Net Debt	6,667	4,541	1,928	-788	-
Research & Development Exp.	2,356	2,466	2,543	2,773	2,825
Capital Expenditure	1,917	1,904	1,917	1,985	1,800
Selling, General & Admin. Exp.	6,133	6,318	6,406	-	-
Shareholder’s Equity	28,711	31,271	34,137	37,154	40,778
Total Assets	49,868	51,848	53,829	57,673	60,659

	Previous Quarter ending 09/30/24	Current Quarter ending 12/31/24	Next Quarter ending 03/31/25	Current Year ending 12/31/24	Next Year ending 12/31/25
Earnings Estimates
No. of Analysts	5	5	1	15	15
Average Estimate	2.275 EUR	2.304 EUR	2.210 EUR	8.894 EUR	10.027 EUR
Year Ago	1.700 EUR	1.348 EUR	1.596 EUR	6.495 EUR	-
Publish Date	11/14/2024	3/6/2025	5/14/2025	-	-
Revenue Estimates
No. of Analysts	5	5	1	13	13
Average Estimate	5,394 EUR	5,517 EUR	5,373 EUR	21,396 EUR	22,588 EUR
Year Ago	5,173 EUR	5,225 EUR	5,120 EUR	20,993 EUR	-
Publish Date	11/14/2024	3/6/2025	5/14/2025	-	-

* Average Estimates in Million (e.g. Revenue) or per share (e.g. Dividend). Source: FactSet

Income Statements in Mio. EUR

	2023	2022	2021	2020	2019	2018	2017
Sales	20,993.00	22,232.00	19,687.00	17,534.00	16,152.00	14,836.00	15,327.00
Change of sales in %	-5.57	12.93	12.28	8.56	8.87	-3.20	2.02
Gross profit on sales	11,669.00	12,839.00	11,595.00	9,983.00	9,154.40	8,408.30	8,916.00
Gross profit on sales change in %	-9.11	10.73	16.15	9.05	8.87	-5.69	2.62
Operating income	4,043.00	5,067.00	4,282.00	3,150.00	2,000.00	1,753.00	2,211.00
Operating income change in %	-20.21	18.33	35.94	57.50	14.09	-20.71	-8.71
Income before tax	3,484.00	4,287.00	3,924.00	2,630.00	1,735.00	1,461.00	2,224.00
Income before tax change in %	-18.73	9.25	49.20	51.59	18.75	-34.31	3.25
Income after tax	2,824.00	3,325.00	3,055.00	1,987.00	1,320.00	1,130.00	2,600.00
Income after tax change in %	-15.07	8.84	53.75	50.53	16.81	-56.54	59.61

Balance Sheet in Mio. EUR

	2023	2022	2021	2020	2019	2018	2017
Total liabilities	22,367.00	23,041.00	24,424.00	25,187.00	26,288.00	20,170.00	21,997.00
Long-term liabilities per share	31.44	31.11	32.18	36.70	33.23	26.80	30.73
Equity	26,755.00	26,005.00	21,416.00	17,017.00	17,913.00	17,233.00	14,066.00
Equity change in %	2.90	21.51	25.92	-5.14	3.87	22.83	0.10
Balance sheet total	49,122.00	49,046.00	45,840.00	42,204.00	44,201.00	37,403.00	36,063.00
Balance sheet total change in %	0.15	6.99	8.62	-4.52	18.18	3.72	-7.54

Key Data in EUR

	2023	2022	2021	2020	2019	2018	2017
Sales per share	48.28	51.13	45.28	40.33	37.15	34.12	35.25
P/E ratio (year end quote, basic EPS)	22.19	23.65	32.31	30.71	34.70	34.62	15.01
P/E ratio (year end quote, diluted EPS)	22.19	23.65	32.31	30.71	34.70	34.62	15.01
P/E ratio (year end quote)	22.19	23.65	32.31	30.71	34.70	34.62	15.01
Dividend yield in %	1.53	1.22	0.81	1.00	1.23	1.39	1.39
Equity ratio in %	54.47	53.02	46.72	40.32	40.53	46.07	39.00
Debt ratio in %	45.53	46.98	53.28	59.68	59.47	53.93	61.00

Merck Dividend Calendar

Date	Name	Dividend	*yield	Currency
2023	Merck KGaA	2.20	1.53	EUR
2022	Merck KGaA	2.20	1.22	EUR
2021	Merck KGaA	1.85	0.81	EUR
2020	Merck KGaA	1.40	1.00	EUR
2019	Merck KGaA	1.30	1.23	EUR
2018	Merck KGaA	1.25	1.39	EUR
2017	Merck KGaA	1.25	1.39	EUR
2016	Merck KGaA	1.20	1.21	EUR
2015	Merck KGaA	1.05	1.17	EUR
2014	Merck KGaA	1.00	1.28	EUR
2013	Merck KGaA	0.95	1.46	EUR
2012	Merck KGaA	0.85	1.70	EUR
2011	Merck KGaA	0.75	1.95	EUR
2010	Merck KGaA	0.63	2.09	EUR
2009	Merck KGaA	0.50	1.53	EUR
2008	Merck KGaA	0.75	2.33	EUR
2007	Merck KGaA	1.60	3.62	EUR
2006	Merck KGaA	0.53	1.34	EUR
2005	Merck KGaA	0.43	1.22	EUR
2004	Merck KGaA	0.40	1.58	EUR
2003	Merck KGaA	0.40	2.42	EUR
2002	Merck KGaA	0.50	3.94	EUR
2001	Merck KGaA	0.48	2.29	EUR
2000	Merck KGaA	0.45	1.91	EUR
1999	Merck KGaA	0.43	2.74	EUR

*Yield of the Respective Date

Merck Calendar

Event	Estimate	Info	Date
Earnings Report	2.275 EUR	Q3 2024 Earnings Release	11/14/2024
Earnings Report	2.304 EUR	Q4 2024 Earnings Release	03/06/2025
Earnings Report	2.210 EUR	Q1 2025 Earnings Release	05/14/2025
Earnings Report	2.460 EUR	Q2 2025 Earnings Release	07/31/2025
Earnings Report	-	Q3 2025 Earnings Release	11/13/2025

Merck Past Events

Event	Actual EPS	Info	Date
Earnings Report	1.396 EUR	Q2 2024 Earnings Release	08/01/2024
Earnings Report	1.845 EUR	Q4 2021 Earnings Release	03/03/2022

Merck Profile

Merck KGaA is a science and technology company, which engages in the manufacture of pharmaceutical and chemical products. It operates through the following sectors: Healthcare, Life Science, Performance Materials and Corporate and Other. The Healthcare sector discovers, develops, and produces prescription medicines used to treat cancer, multiple sclerosis, and infertility. The Life Science sector provides scientists with laboratory materials, technologies, and services. The Performance Materials sector offers specialty chemicals and materials for demanding applications. The firm offers pharma and biopharma manufacturing, pharmaceutical research, pharma quality control, and government and academic research services. The company was founded by Friedrich Jacob Merck in 1668 and is headquartered in Darmstadt, Germany. .

Moody’s Daily Credit Risk Score

Risk

Low
Medium
High

Moody’s Daily Credit Risk Score is a 1-10 score of a company’s credit risk, based on an analysis of the firm’s balance sheet and inputs from the stock market. The score provides a forward-looking, one-year measure of credit risk, allowing investors to make better decisions and streamline their work ow. Updated daily, it takes into account day-to-day movements in market value compared to a company’s liability structure.

Merck Shareholder

Owner	in %
Massachusetts Financial Services Co.	5.06
Amundi Asset Management SA (Investment Management)	3.11
DWS Investment GmbH	2.95
Government Pension Fund - Global (The)	1.73
Vanguard Total International Stock Index Fund	1.40
Vanguard Developed Markets Index Fund	0.85
MFS Research International Fund	0.69
DekaFonds CF/TF	0.69

Shareholder percentage totals can add to more than 100% because some holders are included in the free float.

Merck Management

Name	Job
Belén Garijo López	Chairman-Executive Board & CEO
Michael Kleinemeier	Chairman-Supervisory Board
Kai Beckmann	Chief Executive Officer-Electronics
Matthias J. Heinzel	Chief Executive Officer-Life Science Division
Helene von Roeder	Chief Financial Officer & Member-Executive Board
Andrew Paterson	Chief Marketing Officer
Laura Matz	Chief Science & Technology Officer
Joern-Peter Halle	Chief Strategy Officer
Hong Chow	Head-China & International Healthcare
Albert Langenstein	Head-Controlling, Performance Materials
Katherine M. Dei Cas	Head-Delivery Systems & Services
Martin Hostalek	Head-Group Function Environment, Health & Safety
Constantin Fest	Head-Investor Relations
Danny Bar-Zohar	Head-Research & Development
Jeff White	Head-Surface Solutions
Peter Guenter	Member-Management Board & CEO-Healthcare
Renate Koehler	Member-Supervisory Board
Simon Thelen	Member-Supervisory Board
Alexander Putz	Member-Supervisory Board
Barbara Lambert	Member-Supervisory Board
Anne Lange	Member-Supervisory Board
Helga Rübsamen-Schaeff	Member-Supervisory Board
Jürgen Glaser	Member-Supervisory Board
Peter Emanuel Merck	Member-Supervisory Board
Christian Raabe	Member-Supervisory Board
Dietmar Oeter	Member-Supervisory Board
Birgit Biermann	Member-Supervisory Board
Gabriele Eismann	Member-Supervisory Board
Daniel Thelen	Member-Supervisory Board
Rüdiger Weseloh	Senior Director-Business Development
Sascha Held	Vice Chairman-Supervisory Board