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STOCK COMPARISON

Tianda Pharmaceuticals vs Merck KGaA: Fair Value & Quality

Both stocks run through our valuation models. Here is how Tianda Pharmaceuticals (0455) and Merck KGaA (MRK) compare, as of Sep 30, 2026.

As of Sep 30, 2026, Fair Value Calculator sees Merck KGaA as the less overvalued of the two: Tianda Pharmaceuticals trades at HK$0.12 versus a fair value of HK$0.04 (−66.1%), while Merck KGaA trades at €137 versus €109 (−20.7%).
Tianda Pharmaceuticals
0455.HK · HKD · Health Care
−66.1%
upside to fair value
overvalued
PriceHK$0.12
Fair ValueHK$0.04
Quality44/100
Merck KGaA
MRK.XETRA · EUR · Health Care
−20.7%
upside to fair value
overvalued
Price€137
Fair Value€109
Quality62/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Tianda PharmaceuticalsMerck KGaA
Valuation
n/aP/E (TTM)24.6×
n/aForward P/E (FY2027)15.4×
n/aMedian P/E at FY-end (10 FY, reported earnings)25.0×
0.10×P/S (TTM)2.83×
0.07×P/B2.09×
n/aEV/EBITDA12.0×
n/aPEG2.15×
−66.1%Fair value upside−20.7%
3.0%Dividend yield1.6%
n/aDividend per share€2.20
Profitability
-11.0%Operating margin13.9%
n/aEBIT margin trend (5Y)1.07×
-14.6%Return on equity8.1%
-4.5%Return on assets4.7%
Growth
7.2%Revenue growth (YoY)3.4%
-16.1%Avg. growth/yr (3Y)-1.7%
-7.4%Avg. growth/yr (5Y)3.8%
n/aValue creation/yr+7.2%
Balance & size
n/aInterest coverage (EBIT/interest)15.5×
0.09×Debt / equity0.36×
$32MMarket cap$68B
weakGrowth qualitymixed
Merck KGaA, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 25.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Merck KGaA leads: 4 to 6 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Tianda Pharmaceuticalsof which business quality 43 · market factors 45 Merck KGaAof which business quality 61 · market factors 67
ProfitabilityMargins and returns on capital today
11
41
Quality GrowthAre margins and returns improving?
40
40
CashflowEarnings quality: real cash, not paper profit
16
57
Fin. StrengthBalance sheet, leverage, solvency risk
52
75
InvestmentDisciplined investing over empire-building
97
80
Low VolatilityCalm price path (market factor)
50
75
MomentumPrice trend over the last 3–12 months (market factor)
54
60
52W MomentumDistance to the 52-week high (market factor)
23
72
Net IssuanceShare count: buybacks or dilution?
82
82

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyTianda PharmaceuticalsPrice HK$0.12Merck KGaAPrice €137
DCF Models−66.1%below the priceHK$0.04−22.0%below the price€107
Earnings-Basedn/a−61.2%below the price€53.25
Dividend Discount−61.9%below the priceHK$0.05−70.4%below the price€40.71
Multiples−74.6%below the priceHK$0.03−14.0%close to the price€118
Asset-Based+18.6%above the priceHK$0.14−67.9%below the price€44.06
Growth DCF−49.2%below the priceHK$0.06−31.2%below the price€94.57
Economic Profitn/a−51.6%below the price€66.44
Growth Earningsn/a−16.2%below the price€115
Minimum−74.6%below the priceHK$0.03−70.4%below the price€40.71
Maximum+18.6%above the priceHK$0.14−14.0%close to the price€118
Median−61.9%below the priceHK$0.05−41.4%below the price€80.50
Geometric mean−54.3%below the priceHK$0.05−46.3%below the price€73.75

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Tianda Pharmaceuticals: 7 of 8 models see the stock below the current price.

Merck KGaA: 23 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Tianda Pharmaceuticals
Price HK$0.12
Fair Value HK$0.04
Bear HK$0.03Bull HK$0.06
Merck KGaA
Price €137
Fair Value €109
Bear €60.04Bull €150

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Tianda Pharmaceuticals · Health Care

Quality score44 · below median
Fair value upside−66.1% · bottom 25%

Merck KGaA · Health Care

Quality score62 · above median
Fair value upside−20.7% · below median

Bottom line

As of Sep 30, 2026, Fair Value Calculator sees Merck KGaA as the less overvalued of the two: Tianda Pharmaceuticals trades at HK$0.12 versus a fair value of HK$0.04 (−66.1%), while Merck KGaA trades at €137 versus €109 (−20.7%).

Merck KGaA has the higher quality score (62/100).

Open Merck KGaA live analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.