BMY vs. MRK: Bristol-Myers Squibb vs. Merck Stock Comparison

November 11, 2026

How do Bristol-Myers Squibb (BMY) 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

Bristol-Myers Squibb (BMY) and Merck (MRK) are both classified in the Pharmaceuticals sub-industry within the broader Pharmaceuticals industry, placing them in the closest GICS peer bucket.

Company profile comparison for Bristol-Myers Squibb (BMY) and Merck (MRK)
Profile Item	BMY	MRK
Name	Bristol-Myers Squibb Company	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	Pharmaceuticals	Pharmaceuticals
GICS Sub-Industry	Pharmaceuticals	Pharmaceuticals
Market Capitalization	127.02 billion USD	361.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 1, 1972	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BMY

MRK

GSPC

Bristol-Myers Squibb (BMY) 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 Bristol-Myers Squibb (BMY) and Merck (MRK). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Bristol-Myers Squibb (BMY) and Merck (MRK). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Total Return (1Y)	38.62%	76.14%
Total Return (3Y, Annualized)	12.29%	16.48%
Total Return (5Y, Annualized)	5.09%	15.77%

Risk Profile

Drawdown History

BMY

MRK

GSPC

Bristol-Myers Squibb (BMY) 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 Bristol-Myers Squibb (BMY) and Merck (MRK). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Volatility (1Y, Annualized)	28.01%	30.24%
Beta (5Y)	0.19	0.11
Max Drawdown (5Y)	-47.67%	-43.44%
Avg. Volume (3M)	10.85M	10.24M

Risk-Adjusted Performance

Risk-Return Positioning

BMY 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 Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Sharpe Ratio (1Y)	1.23	2.38
Sortino Ratio (1Y)	1.95	4.33

Profitability

ROE (TTM)

Bristol-Myers Squibb (BMY) at 44.01% sits in the top ROE quartile, while Merck (MRK) at 5.06% is closer to the peer norm — stronger capital efficiency for BMY.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

44.01%

Max: 109.18%
BMY: 44.01%
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%

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Bristol-Myers Squibb (BMY) at 18.47% 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.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

18.47%

BMY: 18.47%
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%

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their net margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Operating Margin (TTM)

Both Bristol-Myers Squibb (BMY) at 33.79% 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.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

33.79%

Max: 83.12%
BMY: 33.79%
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%

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their operating margin against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Profitability Metrics

Profitability metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
ROE (TTM)	44.01%	5.06%
ROA (TTM)	10.90%	11.29%
Net Margin (TTM)	18.47%	3.64%
Operating Margin (TTM)	33.79%	35.22%
Gross Margin (TTM)	70.50%	75.20%

Growth

Revenue Growth

Both Bristol-Myers Squibb (BMY) at -0.22% 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.

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Merck (MRK) reports EPS growth of 8.01%, ranked against its industry; Bristol-Myers Squibb (BMY) has no EPS growth figure this period.

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Revenue Growth (YoY)	-0.22%	1.31%
Revenue Growth (3Y CAGR)	1.45%	3.12%
EPS Growth (YoY)	--	8.01%
EPS Growth (3Y CAGR)	5.46%	8.43%

Financial Strength

Current Ratio (MRQ)

Both Bristol-Myers Squibb (BMY) at 1.59 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.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.59

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
BMY: 1.59
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

Bristol-Myers Squibb (BMY) 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 BMY is more stretched: Merck (MRK) at 1.20 sits in the higher-leverage quartile and Bristol-Myers Squibb (BMY) at 1.91 is above its industry benchmark range.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.91

BMY: 1.91
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

Bristol-Myers Squibb (BMY) 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 Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Current Ratio (MRQ)	1.59	1.35
Debt / Equity (MRQ)	1.91	1.20
Net Debt / EBITDA	1.77	1.50

Dividends

Dividend Yield (TTM)

Both Bristol-Myers Squibb (BMY) at 3.99% and Merck (MRK) at 2.29% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.99%

BMY: 3.99%
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%

Bristol-Myers Squibb (BMY) 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 Bristol-Myers Squibb (BMY) reports 55.88%, ranking against industry peers normally.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

55.88%

BMY: 55.88%
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%

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their payout ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Dividend Metrics

Dividend metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
Dividend Yield (TTM)	3.99%	2.29%
Dividend Payout Ratio (TTM)	55.88%	343.43%

Valuation

P/E Ratio (TTM)

Bristol-Myers Squibb (BMY) at 13.78 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.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

13.78

Max: 85.34
Q3: 43.46
Median: 26.69
BMY: 13.78
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

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their P/E ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/S Ratio (TTM)

Bristol-Myers Squibb (BMY) at 2.54 sits in the cheaper P/S ratio quartile while Merck (MRK) at 5.37 prices around its industry’s middle — BMY costs less per dollar of sales, though read it alongside growth and margins.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

2.54

Max: 58.18
Q3: 25.77
Median: 7.30
Q1: 3.01
BMY: 2.54
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

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their P/S ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

P/B Ratio (MRQ)

Bristol-Myers Squibb (BMY) at 5.43 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.

BMY

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.43

Max: 13.53
Q3: 6.54
BMY: 5.43
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

Bristol-Myers Squibb (BMY) vs. Merck (MRK): A comparison of their P/B ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Valuation Metrics

Valuation metrics for Bristol-Myers Squibb (BMY) and Merck (MRK)
Metric	BMY	MRK
P/E Ratio (TTM)	13.78	148.21
P/S Ratio (TTM)	2.54	5.37
P/B Ratio (MRQ)	5.43	8.06
Free Cash Flow Yield (TTM)	5.01%	3.88%