MRK vs. NVO: Merck vs. Novo Nordisk Stock Comparison
How do Merck (MRK) and Novo Nordisk (NVO) 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
Merck (MRK) and Novo Nordisk (NVO) are both classified in the Pharmaceuticals sub-industry within the broader Pharmaceuticals industry, placing them in the closest GICS peer bucket.
Merck (MRK) trades as ordinary local shares, while Novo Nordisk (NVO) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.
| Profile Item | MRK | NVO |
|---|---|---|
| Name | Merck & Co., Inc. | Novo Nordisk A/S Sponsored ADR |
| Country/Region | United States | Denmark |
| 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 | 361.73 billion USD | 177.74 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | January 2, 1962 | April 30, 1981 |
| Security Type | Common Stock | ADR |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | MRK | NVO |
|---|---|---|
| Total Return (1Y) | 76.14% | -5.29% |
| Total Return (3Y, Annualized) | 16.48% | -23.41% |
| Total Return (5Y, Annualized) | 15.77% | -4.13% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | MRK | NVO |
|---|---|---|
| Volatility (1Y, Annualized) | 30.24% | 45.98% |
| Beta (5Y) | 0.11 | 0.67 |
| Max Drawdown (5Y) | -43.44% | -74.70% |
| Avg. Volume (3M) | 10.24M | 12.11M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | MRK | NVO |
|---|---|---|
| Sharpe Ratio (1Y) | 2.38 | -0.21 |
| Sortino Ratio (1Y) | 4.33 | -0.28 |
Profitability
ROE (TTM)
Novo Nordisk (NVO) at 58.38% sits in the top ROE quartile, while Merck (MRK) at 5.06% is closer to the peer norm — stronger capital efficiency for NVO.
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%
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
58.38%
- Max
- 109.18%
- NVO
- 58.38%
- Q3
- 6.23%
- Median
- -26.66%
- Q1
- -64.05%
- Min
- -167.77%
Net Margin (TTM)
Novo Nordisk (NVO) at 33.92% 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.
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%
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
33.92%
- NVO
- 33.92%
- Max
- 18.05%
- Q3
- 4.78%
- Median
- 0.00%
- Q1
- -4.14%
- Min
- -17.05%
Operating Margin (TTM)
Both Merck (MRK) at 35.22% and Novo Nordisk (NVO) at 40.05% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.
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%
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
40.05%
- Max
- 83.12%
- NVO
- 40.05%
- Q3
- 14.77%
- Median
- 0.00%
- Q1
- -78.82%
- Min
- -207.40%
Profitability Metrics
| Metric | MRK | NVO |
|---|---|---|
| ROE (TTM) | 5.06% | 58.38% |
| ROA (TTM) | 11.29% | 19.05% |
| Net Margin (TTM) | 3.64% | 33.92% |
| Operating Margin (TTM) | 35.22% | 40.05% |
| Gross Margin (TTM) | 75.20% | 83.33% |
Growth
Revenue Growth
Both Merck (MRK) at 1.31% and Novo Nordisk (NVO) at 6.43% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.
EPS Growth
Both Merck (MRK) at 8.01% and Novo Nordisk (NVO) at 1.77% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | MRK | NVO |
|---|---|---|
| Revenue Growth (YoY) | 1.31% | 6.43% |
| Revenue Growth (3Y CAGR) | 3.12% | 20.43% |
| EPS Growth (YoY) | 8.01% | 1.77% |
| EPS Growth (3Y CAGR) | 8.43% | 23.52% |
Financial Strength
Current Ratio (MRQ)
Both Merck (MRK) at 1.35 and Novo Nordisk (NVO) at 0.85 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.
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
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.85
- Max
- 25.13
- Q3
- 12.13
- Median
- 5.52
- Q1
- 2.47
- NVO
- 0.85
- Min
- 0.10
Debt / Equity (MRQ)
Novo Nordisk (NVO) at 0.62 carries an industry-typical debt-to-equity mix, while Merck (MRK) at 1.20 uses more debt funding than most peers.
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
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.62
- Max
- 1.42
- Q3
- 0.65
- NVO
- 0.62
- Median
- 0.15
- Q1
- 0.02
- Min
- 0.00
Financial Strength Metrics
| Metric | MRK | NVO |
|---|---|---|
| Current Ratio (MRQ) | 1.35 | 0.85 |
| Debt / Equity (MRQ) | 1.20 | 0.62 |
| Net Debt / EBITDA | 1.50 | 0.49 |
Dividends
Dividend Yield (TTM)
Both Merck (MRK) at 2.29% and Novo Nordisk (NVO) at 29.03% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.
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%
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
29.03%
- NVO
- 29.03%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
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 Novo Nordisk (NVO) reports 45.36%, ranking against industry peers normally.
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%
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
45.36%
- NVO
- 45.36%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | MRK | NVO |
|---|---|---|
| Dividend Yield (TTM) | 2.29% | 29.03% |
| Dividend Payout Ratio (TTM) | 343.43% | 45.36% |
Valuation
P/E Ratio (TTM)
Novo Nordisk (NVO) at 10.18 sits in the cheaper P/E ratio quartile, while Merck (MRK) at 148.21 trades above its peer range — a wide earnings-valuation gap relative to industry peers.
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
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
10.18
- Max
- 85.34
- Q3
- 43.46
- Median
- 26.69
- Q1
- 13.30
- NVO
- 10.18
- Min
- 0.07
P/S Ratio (TTM)
Novo Nordisk (NVO) at 0.53 sits in the cheaper P/S ratio quartile while Merck (MRK) at 5.37 prices around its industry’s middle — NVO costs less per dollar of sales, though read it alongside growth and margins.
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
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.53
- Max
- 58.18
- Q3
- 25.77
- Median
- 7.30
- Q1
- 3.01
- NVO
- 0.53
- Min
- 0.01
P/B Ratio (MRQ)
Novo Nordisk (NVO) 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.
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
NVO
Pharmaceuticals, Biotechnology & Life Sciences industry group
5.43
- Max
- 13.53
- Q3
- 6.54
- NVO
- 5.43
- Median
- 3.25
- Q1
- 1.69
- Min
- -5.59
Valuation Metrics
| Metric | MRK | NVO |
|---|---|---|
| P/E Ratio (TTM) | 148.21 | 10.18 |
| P/S Ratio (TTM) | 5.37 | 0.53 |
| P/B Ratio (MRQ) | 8.06 | 5.43 |
| Free Cash Flow Yield (TTM) | 3.88% | 18.43% |