Both stocks run through our valuation models. Here is how Merck & Company (MRK) and Amgen (AMGN) compare, as of Aug 13, 2026.
As of Aug 13, 2026, Fair Value Calculator sees Merck & Company as the less overvalued of the two: Merck & Company trades at $133 versus a fair value of $125 (-6%), while Amgen trades at $416 versus $252 (-39%).
Merck & Company
MRK · USD · Health Care
-6%
upside to fair value
fairly valued
Price$133
Fair Value$125
Quality70/100
Amgen
AMGN · USD · Health Care
-39%
upside to fair value
overvalued
Price$416
Fair Value$252
Quality63/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Merck & CompanyAmgen
Valuation
38.5×P/E (TTM)25.3×
4.64×P/S (TTM)5.27×
5.80×P/B22.65×
11.4×EV/EBITDA14.0×
6.10×PEG2.02×
2.6%Dividend yield2.7%
$3.28Dividend per share$9.66
Profitability
14%Net margin21%
39%Operating margin34%
19%Return on equity101%
13%Return on assets8%
Growth
5%Revenue growth (YoY)6%
3.1%Avg. growth/yr (3Y)11.8%
9.4%Avg. growth/yr (5Y)7.6%
Balance & size
0.89×Debt / equity5.78×
$305BMarket cap$196B
healthyGrowth qualityhealthy
Even match: 7 to 7 metric wins.
Dash = 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.
Merck & Companyof which business quality 68 · market factors 85Amgenof which business quality 60 · market factors 81
ProfitabilityMargins and returns on capital today
74
64
Quality GrowthAre margins and returns improving?
36
79
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
71
42
Low VolatilityCalm price path (market factor)
86
87
MomentumPrice trend over the last 3–12 months (market factor)
75
69
52W MomentumDistance to the 52-week high (market factor)
100
95
Net IssuanceBuybacks instead of dilution
91
81
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Merck & Company
DCF Models$117
Earnings-Based$62.77
Dividend Discount$60.35
Multiples$122
Asset-Based$14.27
Growth DCF$74.00
Economic Profit$83.85
Growth Earnings$138
19 of 26 models see the stock below the current price.
Amgen
DCF Models$275
Earnings-Based$151
Dividend Discount$167
Multiples$249
Asset-Based$10.75
Growth DCF$214
Economic Profit$129
Growth Earnings$261
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Merck & Company
Bear $70.92Fair Value $125Bull $188
$133 = current price (white tick)
Amgen
Bear $135Fair Value $252Bull $340
$416 = current price (white tick)
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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.
Merck & Company · Health Care
Quality score70 · Top 25%
Fair value upside-6% · above median
Amgen · Health Care
Quality score63 · Top 25%
Fair value upside-39% · below median
Bottom line
As of Aug 13, 2026, Fair Value Calculator sees Merck & Company as the less overvalued of the two: Merck & Company trades at $133 versus a fair value of $125 (-6%), while Amgen trades at $416 versus $252 (-39%).
Merck & Company has the higher quality score (70/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
