WallStSmart
MRK

Merck & Company Inc

NYSE: MRK · HEALTHCARE · DRUG MANUFACTURERS - GENERAL

$109.18
-1.60% today

Updated 2026-04-29

Market cap
$274.03B
P/E ratio
15.24
P/S ratio
4.22x
EPS (TTM)
$7.28
Dividend yield
2.94%
52W range
$71 – $124
Volume
9.8M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Merck & Company Inc (MRK) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$109.18
Consensus
$125.59
+15.03%
2030 Target
$134.28
+22.99%
DCF
$96.48
-13.16% MoS
17 analysts:
7 Buy7 Hold0 Sell

Management guidance

No specific CEO revenue targets disclosed in available research. Management provided FY2026 guidance of $67.36B revenue (3.61% growth) and FY2027 guidance of $71.01B (5.41% growth) based on analyst consensus. Management has not published multi-year specific revenue targets beyond 2027.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$212.61
$84.8B Rev × 6.4x P/S
Base case (2030)
$134.28
$84.8B Rev × 4x P/S
Bear case (2030)
$78.33
$84.8B Rev × 2.4x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$60.1B$64.2B$65.0B$67.4B$71.0B$75.3B$79.9B$84.8B
Revenue growth—6.7%1.3%3.6%5.4%6.0%6.2%6.1%
EPS$1.50$7.64$8.97$5.09$9.81$11.20$12.50$13.80
P/S ratio———4.0x4.0x4.0x4.0x4.0x
Implied price———$111.90$111.90$123.09$123.09$134.28

Catalysts & risks

Growth catalysts
+ Terns Pharmaceuticals acquisition ($53/share) cleared HSR antitrust review; TERN's pipeline could add $500M+ in revenue by 2028-2029
+ Merck-Google Cloud partnership ($1B investment) for AI drug discovery and enterprise AI transformation to accelerate pipeline productivity
+ KEYTRUDA combination regimens (pembrolizumab + Padcev) receiving FDA Priority Reviews for muscle-invasive bladder cancer and other indications
+ Recent FDA approvals: IDVYNSO (once-daily HIV) and ENFLONSIA (RSV prevention in infants) expanding addressable markets
+ Infinimmune antibody discovery agreement with potential $838M in milestone payments; leverages AI to improve antibody candidates
Key risks
- KEYTRUDA combination therapy (LITESPARK-012) failed primary endpoint in Phase 3 renal cell carcinoma trial; delays expected revenue contribution from kidney cancer combinations
- Gardasil sales declining in China and Japan; impacts 2026-2027 guidance and suggests vaccine revenue headwinds
- Patent cliff risk on key franchises; KEYTRUDA exclusivity extends to 2028-2029 but loss of exclusivity would pressure pricing
- Trump administration tariff threats (up to 100%) on imported medicines; pricing pressure and potential margin compression for imported drugs
- Competitive pressure from PFE, JNJ, BMY in oncology and immunology; KEYTRUDA faces increasing generic/biosimilar competition post-2028

Methodology

Merck & Company Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 17 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 27, 2026.