AMGN vs. MRK: Amgen vs. Merck Stock Comparison

November 11, 2026

How do Amgen (AMGN) and Merck (MRK) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Amgen (AMGN) and Merck (MRK) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but AMGN is classified in Biotechnology while MRK is classified in Pharmaceuticals.

Company profile comparison for Amgen (AMGN) and Merck (MRK)
Profile Item	AMGN	MRK
Name	Amgen Inc. Common Stock	Merck & Co., Inc.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Biotechnology	Pharmaceuticals
GICS Sub-Industry	Biotechnology	Pharmaceuticals
Market Capitalization	249.05 billion USD	361.73 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 17, 1983	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AMGN

MRK

GSPC

Amgen (AMGN) vs. Merck (MRK), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Amgen (AMGN) and Merck (MRK). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Amgen (AMGN) and Merck (MRK). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Total Return (1Y)	48.82%	76.14%
Total Return (3Y, Annualized)	24.31%	16.48%
Total Return (5Y, Annualized)	20.67%	15.77%

Risk Profile

Drawdown History

AMGN

MRK

GSPC

Amgen (AMGN) vs. Merck (MRK), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Amgen (AMGN) and Merck (MRK). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Volatility (1Y, Annualized)	29.12%	30.24%
Beta (5Y)	0.43	0.11
Max Drawdown (5Y)	-24.86%	-43.44%
Avg. Volume (3M)	2.76M	10.24M

Risk-Adjusted Performance

Risk-Return Positioning

AMGN and MRK are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Sharpe Ratio (1Y)	1.53	2.38
Sortino Ratio (1Y)	2.36	4.33

Profitability

ROE (TTM)

Amgen (AMGN) at 78.35% sits in the top ROE quartile, while Merck (MRK) at 5.06% is closer to the peer norm — stronger capital efficiency for AMGN.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

78.35%

Max: 109.18%
AMGN: 78.35%
Q3: 6.23%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.06%

Max: 109.18%
Q3: 6.23%
MRK: 5.06%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Amgen (AMGN) vs. Merck (MRK): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Amgen (AMGN) at 24.14% converts revenue to bottom-line profit above its industry’s benchmark range, while Merck (MRK) at 3.64% keeps roughly the typical share for its industry.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

24.14%

AMGN: 24.14%
Max: 18.05%
Q3: 4.78%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.64%

Max: 18.05%
Q3: 4.78%
MRK: 3.64%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Amgen (AMGN) vs. Merck (MRK): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Both Amgen (AMGN) at 35.79% and Merck (MRK) at 35.22% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

35.79%

Max: 83.12%
AMGN: 35.79%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

35.22%

Max: 83.12%
MRK: 35.22%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Amgen (AMGN) vs. Merck (MRK): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
ROE (TTM)	78.35%	5.06%
ROA (TTM)	8.91%	11.29%
Net Margin (TTM)	24.14%	3.64%
Operating Margin (TTM)	35.79%	35.22%
Gross Margin (TTM)	72.47%	75.20%

Growth

Revenue Growth

Both Amgen (AMGN) at 9.95% and Merck (MRK) at 1.31% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Amgen (AMGN) vs. Merck (MRK): A comparison of their Revenue Growth across different time periods.

EPS Growth

Amgen (AMGN) at 88.23% sits in the top EPS growth quartile, while Merck (MRK) at 8.01% is closer to the peer norm — faster per-share earnings growth for AMGN.

Amgen (AMGN) vs. Merck (MRK): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Revenue Growth (YoY)	9.95%	1.31%
Revenue Growth (3Y CAGR)	11.77%	3.12%
EPS Growth (YoY)	88.23%	8.01%
EPS Growth (3Y CAGR)	5.52%	8.43%

Financial Strength

Current Ratio (MRQ)

Both Amgen (AMGN) at 1.48 and Merck (MRK) at 1.35 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.48

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
AMGN: 1.48
Min: 0.10

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.35

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
MRK: 1.35
Min: 0.10

Amgen (AMGN) vs. Merck (MRK): A comparison of their current ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Debt / Equity (MRQ)

Both balance sheets lean debt-heavy versus peers, but AMGN is more stretched: Merck (MRK) at 1.20 sits in the higher-leverage quartile and Amgen (AMGN) at 3.76 is above its industry benchmark range.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.76

AMGN: 3.76
Max: 1.42
Q3: 0.65
Median: 0.15
Q1: 0.02
Min: 0.00

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.20

Max: 1.42
MRK: 1.20
Q3: 0.65
Median: 0.15
Q1: 0.02
Min: 0.00

Amgen (AMGN) vs. Merck (MRK): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Current Ratio (MRQ)	1.48	1.35
Debt / Equity (MRQ)	3.76	1.20
Net Debt / EBITDA	2.31	1.50

Dividends

Dividend Yield (TTM)

Both Amgen (AMGN) at 2.16% and Merck (MRK) at 2.29% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.16%

AMGN: 2.16%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.29%

MRK: 2.29%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Amgen (AMGN) vs. Merck (MRK): A comparison of their dividend yield against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Payout Ratio (TTM)

Merck (MRK) reports payout ratio above 100% at 343.43%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Amgen (AMGN) reports 57.62%, ranking against industry peers normally.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

57.62%

AMGN: 57.62%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

343.43%

MRK: 343.43%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Amgen (AMGN) vs. Merck (MRK): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
Dividend Yield (TTM)	2.16%	2.29%
Dividend Payout Ratio (TTM)	57.62%	343.43%

Valuation

P/E Ratio (TTM)

Amgen (AMGN) at 26.69 is near its industry’s usual P/E ratio, while Merck (MRK) at 148.21 sits above its peer range — an unusually expensive price for MRK’s trailing earnings.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

26.69

Max: 85.34
Q3: 43.46
AMGN: 26.69
Median: 26.69
Q1: 13.30
Min: 0.07

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

148.21

MRK: 148.21
Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07

Amgen (AMGN) vs. Merck (MRK): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Amgen (AMGN) at 6.40 and Merck (MRK) at 5.37 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.40

Max: 58.18
Q3: 25.77
Median: 7.30
AMGN: 6.40
Q1: 3.01
Min: 0.01

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.37

Max: 58.18
Q3: 25.77
Median: 7.30
MRK: 5.37
Q1: 3.01
Min: 0.01

Amgen (AMGN) vs. Merck (MRK): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Merck (MRK) at 8.06 sits in the upper P/B ratio quartile, and Amgen (AMGN) at 17.35 prices even higher, above its industry range.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

17.35

AMGN: 17.35
Max: 13.53
Q3: 6.54
Median: 3.25
Q1: 1.69
Min: -5.59

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.06

Max: 13.53
MRK: 8.06
Q3: 6.54
Median: 3.25
Q1: 1.69
Min: -5.59

Amgen (AMGN) vs. Merck (MRK): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Amgen (AMGN) and Merck (MRK)
Metric	AMGN	MRK
P/E Ratio (TTM)	26.69	148.21
P/S Ratio (TTM)	6.40	5.37
P/B Ratio (MRQ)	17.35	8.06
Free Cash Flow Yield (TTM)	2.96%	3.88%