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AMGN vs. MRK: Amgen vs. Merck Stock Comparison

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 ItemAMGNMRK
NameAmgen Inc.Merck & Co., Inc.
Country/RegionUnited StatesUnited States
GICS SectorHealth CareHealth Care
GICS Industry GroupPharmaceuticals, Biotechnology & Life SciencesPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnologyPharmaceuticals
GICS Sub-IndustryBiotechnologyPharmaceuticals
Market Capitalization236.38 billion USD370.89 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJune 17, 1983January 2, 1962
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

AMGN
MRK
GSPC
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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

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

Calendar-Year Returns

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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)
MetricAMGNMRK
Total Return (1Y)60.43%84.84%
Total Return (3Y, Annualized)23.06%14.50%
Total Return (5Y, Annualized)17.68%17.86%

Risk Profile

Drawdown History

AMGN
MRK
GSPC
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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

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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)
MetricAMGNMRK
Volatility (1Y, Annualized)27.61%30.44%
Beta (5Y)0.410.20
Max Drawdown (5Y)-24.86%-43.44%
Avg. Volume (3M)2.67M10.70M

Risk-Adjusted Performance

Risk-Return Positioning

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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)
MetricAMGNMRK
Sharpe Ratio (1Y)2.042.65
Sortino Ratio (1Y)3.645.06

Profitability

ROE (TTM)

Both Amgen (AMGN) at 91.47% and Merck (MRK) at 6.96% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

91.47%

Max
102.29%
AMGN
91.47%
Q3
3.16%
Median
-32.34%
Q1
-64.79%
Min
-157.61%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.96%

Max
102.29%
MRK
6.96%
Q3
3.16%
Median
-32.34%
Q1
-64.79%
Min
-157.61%
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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 22.95% keeps the most of each sales dollar — above its industry’s net margin range — and Merck (MRK) at 4.77% also retains a top-quartile share.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

22.95%

AMGN
22.95%
Max
12.02%
Q3
2.44%
Median
0.00%
Q1
-4.89%
Min
-13.51%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.77%

Max
12.02%
MRK
4.77%
Q3
2.44%
Median
0.00%
Q1
-4.89%
Min
-13.51%
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Amgen (AMGN) vs. Merck (MRK): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Merck (MRK) reports a negative operating margin of -0.24%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile Amgen (AMGN) reports 35.55%, ranking against industry peers normally.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

35.55%

Max
76.04%
AMGN
35.55%
Q3
10.45%
Median
0.00%
Q1
-120.32%
Min
-308.66%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

-0.24%

Max
76.04%
Q3
10.45%
Median
0.00%
MRK
-0.24%
Q1
-120.32%
Min
-308.66%
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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)
MetricAMGNMRK
ROE (TTM)91.47%6.96%
ROA (TTM)8.67%11.87%
Net Margin (TTM)22.95%4.77%
Operating Margin (TTM)35.55%-0.24%
Gross Margin (TTM)71.89%75.90%

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.

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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.

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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)
MetricAMGNMRK
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 1.37 and Merck (MRK) at 1.32 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

1.37

Max
26.10
Q3
12.34
Median
5.72
Q1
2.80
AMGN
1.37
Min
0.10

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.32

Max
26.10
Q3
12.34
Median
5.72
Q1
2.80
MRK
1.32
Min
0.10
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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 1.28 sits in the higher-leverage quartile and Amgen (AMGN) at 4.90 is above its industry benchmark range.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.90

AMGN
4.90
Max
1.56
Q3
0.64
Median
0.14
Q1
0.02
Min
0.00

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.28

Max
1.56
MRK
1.28
Q3
0.64
Median
0.14
Q1
0.02
Min
0.00
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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)
MetricAMGNMRK
Current Ratio (MRQ)1.371.32
Debt / Equity (MRQ)4.901.28
Net Debt / EBITDA2.511.62

Dividends

Dividend Yield (TTM)

Both Amgen (AMGN) at 2.21% and Merck (MRK) at 2.18% 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

2.21%

AMGN
2.21%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.18%

MRK
2.18%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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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 268.80%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Amgen (AMGN) reports 60.87%, ranking against industry peers normally.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

60.87%

AMGN
60.87%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

268.80%

MRK
268.80%
Max
0.00%
Q3
0.00%
Median
0.00%
Q1
0.00%
Min
0.00%
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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)
MetricAMGNMRK
Dividend Yield (TTM)2.21%2.18%
Dividend Payout Ratio (TTM)60.87%268.80%

Valuation

P/E Ratio (TTM)

Amgen (AMGN) at 27.17 is near its industry’s usual P/E ratio, while Merck (MRK) at 120.26 sits above its peer range — an unusually expensive price for MRK’s trailing earnings.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

27.17

Max
83.73
Q3
44.68
Median
28.50
AMGN
27.17
Q1
15.51
Min
0.14

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

120.26

MRK
120.26
Max
83.73
Q3
44.68
Median
28.50
Q1
15.51
Min
0.14
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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 6.21 and Merck (MRK) at 5.57 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.21

Max
65.27
Q3
29.50
Median
7.31
AMGN
6.21
Q1
3.49
Min
0.01

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.57

Max
65.27
Q3
29.50
Median
7.31
MRK
5.57
Q1
3.49
Min
0.01
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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 8.85 sits in the upper P/B ratio quartile, and Amgen (AMGN) at 20.22 prices even higher, above its industry range.

AMGN

Pharmaceuticals, Biotechnology & Life Sciences industry group

20.22

AMGN
20.22
Max
15.46
Q3
7.32
Median
4.02
Q1
1.90
Min
-5.81

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.85

Max
15.46
MRK
8.85
Q3
7.32
Median
4.02
Q1
1.90
Min
-5.81
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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)
MetricAMGNMRK
P/E Ratio (TTM)27.17120.26
P/S Ratio (TTM)6.215.57
P/B Ratio (MRQ)20.228.85
Free Cash Flow Yield (TTM)3.66%4.09%