Merck & Co., Inc.
At today's price, Merck & Co., Inc. (MRK) is priced for +6.2% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
At $113.90 (as of June 27, 2026) Merck trades close to where the standard methods land, with the DCF and peer multiples clustering near $89 to $106. It is a roughly fairly valued large-cap pharma, not a deep discount. The balance sheet funds the bridge over the patent cliff. Merck generated about $14.1 billion of trailing free cash flow, runs interest coverage near 9.3x, and carries net debt of about $45.7 billion at a manageable 3.2x operating income. That cash is the resource paying for the p
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3,701 institutional managers reported holding MRK in 13F filings for the quarter ended 2026-03-31. Together they hold about 76% of the company; the top 10 hold 39%. 253 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 30.3M shares were sold short as of the 2026-06-15 count, about 1% of shares outstanding (2.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MRK has cut its share count 2.4% over the past five years, spending $9.26B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 14 years straight; the current rate is $3.28 a share annually. Cash returned over the past three years: $21.83B in dividends and $8.17B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MRK over the trailing three years: 2025: 2 buys totaling $1.58M. 25 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MRK's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-08 | -0.9% | -2.6% |
| 2023-11-04 | -0.8% | +13.4% |
| 2024-02-27 | +0.3% | +0.1% |
| 2024-05-04 | +3.3% | -0.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MRK's latest 8-K filings: 2026-05-28 (items 5.07); 2026-05-22 (items 8.01, 9.01); 2026-04-30 (items 2.02, 9.01); 2026-02-03 (items 2.02, 9.01); 2025-12-04 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: July 3, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.