DHR vs. MRK: Danaher vs. Merck Stock Comparison

November 11, 2026

How do Danaher (DHR) 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

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

Company profile comparison for Danaher (DHR) and Merck (MRK)
Profile Item	DHR	MRK
Name	Danaher Corp.	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	161.86 billion USD	361.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	December 29, 1978	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

DHR

MRK

GSPC

Danaher (DHR) 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 Danaher (DHR) and Merck (MRK). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Total Return (1Y)	11.88%	76.14%
Total Return (3Y, Annualized)	6.67%	16.48%
Total Return (5Y, Annualized)	-2.05%	15.77%

Risk Profile

Drawdown History

DHR

MRK

GSPC

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

Risk Metrics

Risk profile metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Volatility (1Y, Annualized)	30.61%	30.24%
Beta (5Y)	0.76	0.11
Max Drawdown (5Y)	-43.31%	-43.44%
Avg. Volume (3M)	3.94M	10.24M

Risk-Adjusted Performance

Risk-Return Positioning

DHR 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 Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Sharpe Ratio (1Y)	0.25	2.38
Sortino Ratio (1Y)	0.35	4.33

Profitability

ROE (TTM)

Danaher (DHR) at 8.19% sits in the top ROE quartile, while Merck (MRK) at 5.06% is closer to the peer norm — stronger capital efficiency for DHR.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.19%

Max: 109.18%
DHR: 8.19%
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%

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

Net Margin (TTM)

Danaher (DHR) at 16.91% retains a top-quartile share of revenue as profit, ahead of Merck (MRK) at 3.64%, which keeps about the industry-typical share.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

16.91%

Max: 18.05%
DHR: 16.91%
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%

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

Operating Margin (TTM)

Both Danaher (DHR) at 21.13% 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.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

21.13%

Max: 83.12%
DHR: 21.13%
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%

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

Profitability Metrics

Profitability metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
ROE (TTM)	8.19%	5.06%
ROA (TTM)	4.06%	11.29%
Net Margin (TTM)	16.91%	3.64%
Operating Margin (TTM)	21.13%	35.22%
Gross Margin (TTM)	59.36%	75.20%

Growth

Revenue Growth

Both Danaher (DHR) at 2.90% 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.

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

EPS Growth

Both Danaher (DHR) at -4.54% and Merck (MRK) at 8.01% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Revenue Growth (YoY)	2.90%	1.31%
Revenue Growth (3Y CAGR)	-2.67%	3.12%
EPS Growth (YoY)	-4.54%	8.01%
EPS Growth (3Y CAGR)	-19.44%	8.43%

Financial Strength

Current Ratio (MRQ)

Both Danaher (DHR) at 1.63 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.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.63

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
DHR: 1.63
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

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

Debt / Equity (MRQ)

Danaher (DHR) at 0.52 carries an industry-typical debt-to-equity mix, while Merck (MRK) at 1.20 uses more debt funding than most peers.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.52

Max: 1.42
Q3: 0.65
DHR: 0.52
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

Danaher (DHR) 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 Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Current Ratio (MRQ)	1.63	1.35
Debt / Equity (MRQ)	0.52	1.20
Net Debt / EBITDA	2.68	1.50

Dividends

Dividend Yield (TTM)

Both Danaher (DHR) at 0.67% and Merck (MRK) at 2.29% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.67%

DHR: 0.67%
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%

Danaher (DHR) 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 Danaher (DHR) reports 25.17%, ranking against industry peers normally.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

25.17%

DHR: 25.17%
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%

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

Dividend Metrics

Dividend metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
Dividend Yield (TTM)	0.67%	2.29%
Dividend Payout Ratio (TTM)	25.17%	343.43%

Valuation

P/E Ratio (TTM)

Danaher (DHR) at 38.12 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.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

38.12

Max: 85.34
Q3: 43.46
DHR: 38.12
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

Danaher (DHR) 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 Danaher (DHR) at 6.32 and Merck (MRK) at 5.37 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.32

Max: 58.18
Q3: 25.77
Median: 7.30
DHR: 6.32
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

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

P/B Ratio (MRQ)

Danaher (DHR) at 3.02 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.

DHR

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.02

Max: 13.53
Q3: 6.54
Median: 3.25
DHR: 3.02
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

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

Valuation Metrics

Valuation metrics for Danaher (DHR) and Merck (MRK)
Metric	DHR	MRK
P/E Ratio (TTM)	38.12	148.21
P/S Ratio (TTM)	6.32	5.37
P/B Ratio (MRQ)	3.02	8.06
Free Cash Flow Yield (TTM)	2.93%	3.88%