AVTR vs. MRK: Avantor vs. Merck Stock Comparison

November 11, 2026

How do Avantor (AVTR) 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

Avantor (AVTR) and Merck (MRK) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but AVTR is classified in Life Sciences Tools & Services while MRK is classified in Pharmaceuticals.

Company profile comparison for Avantor (AVTR) and Merck (MRK)
Profile Item	AVTR	MRK
Name	Avantor, Inc.	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	Life Sciences Tools & Services	Pharmaceuticals
GICS Sub-Industry	Life Sciences Tools & Services	Pharmaceuticals
Market Capitalization	10.48 billion USD	361.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 17, 2019	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AVTR

MRK

GSPC

Avantor (AVTR) 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 Avantor (AVTR) and Merck (MRK). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Total Return (1Y)	36.41%	76.14%
Total Return (3Y, Annualized)	-5.02%	16.48%
Total Return (5Y, Annualized)	-16.62%	15.77%

Risk Profile

Drawdown History

AVTR

MRK

GSPC

Avantor (AVTR) 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 Avantor (AVTR) and Merck (MRK). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Volatility (1Y, Annualized)	43.39%	30.24%
Beta (5Y)	0.94	0.11
Max Drawdown (5Y)	-82.42%	-43.44%
Avg. Volume (3M)	8.56M	10.24M

Risk-Adjusted Performance

Risk-Return Positioning

AVTR 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 Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Sharpe Ratio (1Y)	0.74	2.38
Sortino Ratio (1Y)	1.17	4.33

Profitability

ROE (TTM)

Both Avantor (AVTR) at 5.91% and Merck (MRK) at 5.06% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.91%

Max: 109.18%
Q3: 6.23%
AVTR: 5.91%
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%

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

Net Margin (TTM)

Avantor (AVTR) at 5.08% retains a top-quartile share of revenue as profit, ahead of Merck (MRK) at 3.64%, which keeps about the industry-typical share.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.08%

Max: 18.05%
AVTR: 5.08%
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%

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

Operating Margin (TTM)

Merck (MRK) at 35.22% operates in the top operating margin quartile, ahead of Avantor (AVTR) at 8.19%, which runs around its industry’s norm.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.19%

Max: 83.12%
Q3: 14.77%
AVTR: 8.19%
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%

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

Profitability Metrics

Profitability metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
ROE (TTM)	5.91%	5.06%
ROA (TTM)	2.83%	11.29%
Net Margin (TTM)	5.08%	3.64%
Operating Margin (TTM)	8.19%	35.22%
Gross Margin (TTM)	31.59%	75.20%

Growth

Revenue Growth

Merck (MRK) at 1.31% is around its peer norm for revenue growth, while Avantor (AVTR) at -3.41% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Merck (MRK) at 8.01% is around its peer norm for EPS growth, while Avantor (AVTR) at -175.00% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Revenue Growth (YoY)	-3.41%	1.31%
Revenue Growth (3Y CAGR)	-4.46%	3.12%
EPS Growth (YoY)	-175.00%	8.01%
EPS Growth (3Y CAGR)	--	8.43%

Financial Strength

Current Ratio (MRQ)

Both Avantor (AVTR) at 1.89 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.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.89

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
AVTR: 1.89
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

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

Debt / Equity (MRQ)

Avantor (AVTR) at 0.63 carries an industry-typical debt-to-equity mix, while Merck (MRK) at 1.20 uses more debt funding than most peers.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.63

Max: 1.42
Q3: 0.65
AVTR: 0.63
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

Avantor (AVTR) 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 Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Current Ratio (MRQ)	1.89	1.35
Debt / Equity (MRQ)	0.63	1.20
Net Debt / EBITDA	3.40	1.50

Dividends

Dividend Yield (TTM)

Avantor (AVTR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Merck (MRK) reports a yield of 2.29%, ranking against industry peers normally.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

AVTR: 0.00%
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%

Avantor (AVTR) 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; Avantor (AVTR) pays no dividend (payout 0.00%).

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

AVTR: 0.00%
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%

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

Dividend Metrics

Dividend metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
Dividend Yield (TTM)	0.00%	2.29%
Dividend Payout Ratio (TTM)	0.00%	343.43%

Valuation

P/E Ratio (TTM)

Avantor (AVTR) at 30.94 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.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

30.94

Max: 85.34
Q3: 43.46
AVTR: 30.94
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

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

P/S Ratio (TTM)

Avantor (AVTR) at 1.58 sits in the cheaper P/S ratio quartile while Merck (MRK) at 5.37 prices around its industry’s middle — AVTR costs less per dollar of sales, though read it alongside growth and margins.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.58

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
AVTR: 1.58
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

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

P/B Ratio (MRQ)

Avantor (AVTR) at 1.80 is valued about in line with its industry on P/B ratio, while Merck (MRK) at 8.06 carries an above-peer premium to book — MRK is pricier on assets.

AVTR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.80

Max: 13.53
Q3: 6.54
Median: 3.25
AVTR: 1.80
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

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

Valuation Metrics

Valuation metrics for Avantor (AVTR) and Merck (MRK)
Metric	AVTR	MRK
P/E Ratio (TTM)	30.94	148.21
P/S Ratio (TTM)	1.58	5.37
P/B Ratio (MRQ)	1.80	8.06
Free Cash Flow Yield (TTM)	4.21%	3.88%