The Bid & Ask

Quotations, Dispatches, and the Daily Tape

Thursday, August 13, 2026

Subject of the day

MRK.DE

Concerning the House

Merck KGaA operates as a science and technology company in Europe, North America, Latin America, Middle East and Africa, and the Asia Pacific. The Life Science segment offers products, solutions, and services to academic, research and diagnostic labs, biotech, and pharmaceutical companies, as well as the industrial sector; reagents, consumables, devices, instruments, software, and services for research, production, and testing to lab water instruments, microbiology and biomonitoring products, test assays, analytical reagents, and flow cytometry kits and instruments. This segment also provides traditional and novel therapies, such as ration devices, chromatography resins, single-use systems, process chemicals, and excipients for bioprocessing; contract development, manufacturing and testing services, which supports customers from preclinical phases to commercialization. The Healthcare segment discovers, develops, manufactures, and markets prescription drugs and biopharmaceuticals to the therapeutic areas of oncology, rare diseases, neurology and immunology, fertility, cardiovascular, and metabolic and endocrinological disorders. The Electronics segment offers advanced dielectric and metallic materials; photoresist, anti-reflective coating, and material lithography products; clean and selective etch chemistries; materials for chemical-mechanical planarization; high-purity gases for semiconductor manufacturing; and develops and installs delivery equipment for handling of specialty chemicals and gases for semiconductor manufacturing; develops modulating, creating, engineering, and guiding light; and material solutions in liquid crystals, OLED materials, and photoresists. It has in-licensing agreement with Abbisko Therapeutics Co. Ltd., China on drug candidates for the treatment of tenosynovial giant cell tumor; and strategic partnership with Versant Ventures to advance treatments for rare genetic cardiomyopathies. The company was founded in 1668 and is headquartered in Darmstadt, Germany. Merck KGaA operates as a subsidiary of E. Merck KG.

Germany · www.emdgroup.com

The Ledger
LineMar 2025Jun 2025Sep 2025Dec 2025
Revenue$5.28B$5.25B$5.32B$5.25B
Gross profit$3.15B$3.03B$3.21B$2.96B
Operating income$1.01B$892.00M$1.21B$547.00M
Net income$735.00M$652.00M$902.00M$319.00M
Diluted EPS1.691.502.07
Free cash flow$32.00M$123.00M$1.06B$763.00M
CapEx-$524.00M-$444.00M-$461.00M-$528.00M
Quotation

$139.50

-0.50 (-0.4%)

52w hi$147.50
52w lo$100.78
Vol160.87K
As ofAug 13
The Verdict

Hold

Our score +0.04

Short-0.07
Medium+0.15
Long+0.06

computed 2026-08-13

By the Numbers

Merck KGaA

Healthcare · Drug Manufacturers - Specialty & Generic

Market cap$60.65B
Enterprise value$70.00B
Trailing P/E23.97x
Forward P/E15.79x
EV / EBITDA12.53x
P / S (ttm)2.87x
Profit margin11.2%
Return on equity8.1%
Revenue growth+3.4%
Earnings growth-24.7%
Debt / equity40.62
Risk Metrics
Beta vs SPX0.26
Corr SPX0.15
Annual vol27.9%
Annual ret-3.9%
Sharpe-0.14
Max DD-40.2%

Window: 504 trading days (489 obs)

Layer Breakdown
LayerRawContribution
Fundamental+0.14
Sector+0.12
Technical+0.00
Earnings+0.00
Sentiment+0.00

macro × 1.00 · 2026-08-13

Recent Sessions
DateOpenHighLowCloseVol
Aug 13$140.25$140.85$138.70$139.50160.87K
Aug 12$139.75$140.00$138.75$140.00226.61K
Aug 11$143.85$144.05$139.60$140.00240.88K
Aug 10$144.60$145.75$143.00$143.50198.45K
Aug 7$145.20$146.30$142.80$143.65296.82K