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Merck KGaA Valuation Multiples

Discover revenue and EBITDA valuation multiples for Merck KGaA and similar public comparables like Armata Pharmaceuticals, Julphar, and Galapagos.

Merck KGaA Overview

About Merck KGaA

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.


Founded

HQ

Germany
Employees

62.6K+

Website

emdgroup.com

Financials

LTM Revenue $23.0B

LTM EBITDA $6.6B

EV

$62.0B

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Merck KGaA Financials

Merck KGaA has a last 12-month revenue of $23.0B and a last 12-month EBITDA of $6.6B.

In the most recent fiscal year, Merck KGaA achieved revenue of $22.7B and an EBITDA of $6.4B.

Merck KGaA expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Merck KGaA P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $22.5B $22.7B XXX XXX XXX
Gross Profit $14.7B $13.3B XXX XXX XXX
Gross Margin 65% 59% XXX XXX XXX
EBITDA $6.1B $6.4B XXX XXX XXX
EBITDA Margin 27% 28% XXX XXX XXX
Net Profit $3.6B $3.0B XXX XXX XXX
Net Margin 16% 13% XXX XXX XXX
Net Debt $9.1B $8.3B XXX XXX XXX

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Merck KGaA Stock Performance

As of April 15, 2025, Merck KGaA's stock price is EUR 115 (or $124).

Merck KGaA has current market cap of EUR 50.1B (or $53.8B), and EV of EUR 57.7B (or $62.0B).

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Merck KGaA Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$62.0B $53.8B XXX XXX XXX XXX $9.46

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Merck KGaA Valuation Multiples

As of April 15, 2025, Merck KGaA has market cap of $53.8B and EV of $62.0B.

Merck KGaA's trades at 2.7x LTM EV/Revenue multiple, and 9.4x LTM EBITDA.

Analysts estimate Merck KGaA's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Merck KGaA Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $62.0B XXX XXX XXX
EV/Revenue 2.7x XXX XXX XXX
EV/EBITDA 9.7x XXX XXX XXX
P/E 18.1x XXX XXX XXX
P/E/Growth 0.7x XXX XXX XXX
EV/FCF 24.0x XXX XXX XXX

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Merck KGaA Valuation Multiples

Merck KGaA's NTM/LTM revenue growth is 4%

Merck KGaA's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Merck KGaA's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Merck KGaA's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Merck KGaA Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 1% XXX XXX XXX XXX
EBITDA Margin 28% XXX XXX XXX XXX
EBITDA Growth 5% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 32% XXX XXX XXX XXX
Revenue per Employee $0.4M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 19% XXX XXX XXX XXX
G&A Expenses to Revenue 7% XXX XXX XXX XXX
R&D Expenses to Revenue 11% XXX XXX XXX XXX
Opex to Revenue 40% XXX XXX XXX XXX

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Merck KGaA Public Comps

See public comps and valuation multiples for Biopharmaceuticals and Drug Development & Therapeutics comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Julphar XXX XXX XXX XXX XXX XXX
Galapagos XXX XXX XXX XXX XXX XXX
Pharming XXX XXX XXX XXX XXX XXX
Vivoryon Therapeutics XXX XXX XXX XXX XXX XXX
Armata Pharmaceuticals XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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Merck KGaA M&A and Investment Activity

Merck KGaA acquired  XXX companies to date.

Last acquisition by Merck KGaA was  XXXXXXXX, XXXXX XXXXX XXXXXX . Merck KGaA acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Merck KGaA

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Merck KGaA

Where is Merck KGaA headquartered? Merck KGaA is headquartered in Germany.
How many employees does Merck KGaA have? As of today, Merck KGaA has 62.6K+ employees.
Is Merck KGaA publicy listed? Yes, Merck KGaA is a public company listed on ETR.
What is the stock symbol of Merck KGaA? Merck KGaA trades under MRK ticker.
When did Merck KGaA go public? Merck KGaA went public in 1995.
Who are competitors of Merck KGaA? Similar companies to Merck KGaA include e.g. Julphar, Galapagos, Pharming, Vivoryon Therapeutics.
What is the current market cap of Merck KGaA? Merck KGaA's current market cap is $53.8B
What is the current revenue of Merck KGaA? Merck KGaA's last 12-month revenue is $23.0B.
What is the current EBITDA of Merck KGaA? Merck KGaA's last 12-month EBITDA is $6.6B.
What is the current EV/Revenue multiple of Merck KGaA? Current revenue multiple of Merck KGaA is 2.7x.
What is the current EV/EBITDA multiple of Merck KGaA? Current EBITDA multiple of Merck KGaA is 9.4x.
What is the current revenue growth of Merck KGaA? Merck KGaA revenue growth between 2023 and 2024 was 1%.
Is Merck KGaA profitable? Yes, Merck KGaA is EBITDA-positive (as of the last 12 months).

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