MRK Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	359.22B EUR	317.22B EUR	297.08B EUR	260.48B EUR
Enterprise Value	398.1B EUR	364.28B EUR	340.87B EUR	295.25B EUR
Valuation Multiples
Trailing P/E	115.56x	99.97x	33.25x	19.77x
Forward P/E	15.38x	--	--	--
Price to Sales	5.4x	4.77x	4.52x	5.26x
Price to Book	8.57x	7.56x	6.48x	4.95x
EV/Revenue	5.98x	5.47x	5.18x	5.97x
EV/EBITDA	13.79x	24.86x	16.84x	13.59x
Price to FCF (P/FCF)	23.68x	19.75x	21.05x	23.28x
EV/FCF	26.24x	22.68x	24.15x	26.39x
FCF Yield	4.22%	5.06%	4.75%	4.3%