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STOCK COMPARISON

LIWANLI Innovation Co vs Merck KGaA: Fair Value & Quality

Both stocks run through our valuation models. Here is how LIWANLI Innovation Co (3054) and Merck KGaA (MRK) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Merck KGaA as the less overvalued of the two: LIWANLI Innovation Co trades at TWD 58.40 versus a fair value of TWD 13.23 (-77%), while Merck KGaA trades at €134 versus €109 (-19%).
LIWANLI Innovation Co
3054.TW · TWD · Information Technology
-77%
upside to fair value
overvalued
PriceTWD 58.40
Fair ValueTWD 13.23
Quality59/100
Merck KGaA
MRK.XETRA · EUR · Health Care
-19%
upside to fair value
overvalued
Price€134
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

LIWANLI Innovation CoMerck KGaA
Valuation
30.1×P/E (TTM)24.1×
11.36×P/S (TTM)3.16×
4.46×P/B2.32×
61.6×EV/EBITDA13.0×
n/aPEG2.76×
−77.3%Fair value upside−18.9%
1.4%Dividend yield1.6%
TWD 0.80Dividend per share€2.20
Profitability
28%Operating margin18%
n/aEBIT margin trend (5Y)1.07×
34%Return on equity9%
4%Return on assets5%
Growth
537%Revenue growth (YoY)-3%
54.6%Avg. growth/yr (3Y)-1.7%
-14.6%Avg. growth/yr (5Y)3.8%
+47.7%Value creation/yr+7.2%
Balance & size
n/aInterest coverage (EBIT/interest)15.5×
0.32×Debt / equity0.36×
$148MMarket cap$66B
weakGrowth qualitymixed
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

Merck KGaA leads: 4 to 5 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.

LIWANLI Innovation Coof which business quality 54 · market factors 59 Merck KGaAof which business quality 61 · market factors 66
ProfitabilityMargins and returns on capital today
49
41
Quality GrowthAre margins and returns improving?
69
40
CashflowEarnings quality: real cash, not paper profit
0
57
Fin. StrengthBalance sheet, leverage, solvency risk
82
76
InvestmentDisciplined investing over empire-building
58
80
Low VolatilityCalm price path (market factor)
50
72
MomentumPrice trend over the last 3–12 months (market factor)
55
61
52W MomentumDistance to the 52-week high (market factor)
77
68
Net IssuanceShare count: buybacks or dilution?
81
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 familyLIWANLI Innovation CoPrice TWD 58.40Merck KGaAPrice €134
DCF Models-74%below the priceTWD 15.32-20%below the price€107
Earnings-Based-72%below the priceTWD 16.30-60%below the price€53.25
Dividend Discount-93%below the priceTWD 4.32-70%below the price€40.71
Multiples-43%below the priceTWD 33.33-12%close to the price€118
Asset-Based-85%below the priceTWD 8.77-67%below the price€44.06
Growth DCFn/a-29%below the price€94.57
Economic Profit-76%below the priceTWD 13.80-50%below the price€66.44
Growth Earnings-30%below the priceTWD 41.15-14%close to the price€115
Minimum-93%below the priceTWD 4.32-70%below the price€40.71
Maximum-30%below the priceTWD 41.15-12%close to the price€118
Median-74%below the priceTWD 15.32-40%below the price€80.50
Geometric mean-74%below the priceTWD 15.10-45%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%.

LIWANLI Innovation Co: 10 of 10 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.

LIWANLI Innovation Co
Price TWD 58.40
Fair Value TWD 13.23
Bear TWD 11.48Bull TWD 18.33
Merck KGaA
Price €134
Fair Value €109
Bear €59.91Bull €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.

LIWANLI Innovation Co · Information Technology

Quality score59 · above median
Fair value upside-77% · bottom 25%

Merck KGaA · Health Care

Quality score62 · above median
Fair value upside-19% · above median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Merck KGaA as the less overvalued of the two: LIWANLI Innovation Co trades at TWD 58.40 versus a fair value of TWD 13.23 (-77%), while Merck KGaA trades at €134 versus €109 (-19%).

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

Open Merck KGaA live analysis →

More comparisons

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