MRK vs. TMO: Merck vs. Thermo Fisher Scientific Stock Comparison

August 16, 2026

How do Merck (MRK) and Thermo Fisher Scientific (TMO) 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 Thermo Fisher Scientific (TMO) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but MRK is classified in Pharmaceuticals while TMO is classified in Life Sciences Tools & Services.

Company profile comparison for Merck (MRK) and Thermo Fisher Scientific (TMO)
Profile Item	MRK	TMO
Name	Merck & Co., Inc.	Thermo Fisher Scientific 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	Life Sciences Tools & Services
GICS Sub-Industry	Pharmaceuticals	Life Sciences Tools & Services
Market Capitalization	335.14 billion USD	217.52 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MRK

TMO

GSPC

Merck (MRK) vs. Thermo Fisher Scientific (TMO), 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 Merck (MRK) and Thermo Fisher Scientific (TMO). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Merck (MRK) and Thermo Fisher Scientific (TMO). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Total Return (1Y)	69.62%	21.73%
Total Return (3Y, Annualized)	11.01%	3.20%
Total Return (5Y, Annualized)	15.66%	1.84%

Risk Profile

Drawdown History

MRK

TMO

GSPC

Merck (MRK) vs. Thermo Fisher Scientific (TMO), 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 Merck (MRK) and Thermo Fisher Scientific (TMO). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Volatility (1Y, Annualized)	27.48%	30.43%
Beta (5Y)	0.20	0.84
Max Drawdown (5Y)	-43.44%	-40.95%
Avg. Volume (3M)	10.12M	2.24M

Risk-Adjusted Performance

Risk-Return Positioning

MRK and TMO 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 Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Sharpe Ratio (1Y)	2.39	0.58
Sortino Ratio (1Y)	4.18	0.93

Profitability

ROE (TTM)

Both Merck (MRK) at 6.96% and Thermo Fisher Scientific (TMO) at 13.52% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

6.96%

Max: 100.28%
MRK: 6.96%
Q3: 3.43%
Median: -33.05%
Q1: -62.24%
Min: -157.61%

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

13.52%

Max: 100.28%
TMO: 13.52%
Q3: 3.43%
Median: -33.05%
Q1: -62.24%
Min: -157.61%

Merck (MRK) vs. Thermo Fisher Scientific (TMO): A comparison of their ROE against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Net Margin (TTM)

Thermo Fisher Scientific (TMO) at 15.04% 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.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.77%

Max: 13.44%
MRK: 4.77%
Q3: 3.18%
Median: 0.00%
Q1: -4.14%
Min: -14.36%

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

15.04%

TMO: 15.04%
Max: 13.44%
Q3: 3.18%
Median: 0.00%
Q1: -4.14%
Min: -14.36%

Merck (MRK) vs. Thermo Fisher Scientific (TMO): 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 Thermo Fisher Scientific (TMO) reports 18.75%, ranking against industry peers normally.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

-0.24%

Max: 76.04%
Q3: 10.89%
Median: 0.00%
MRK: -0.24%
Q1: -122.64%
Min: -308.66%

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

18.75%

Max: 76.04%
TMO: 18.75%
Q3: 10.89%
Median: 0.00%
Q1: -122.64%
Min: -308.66%

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

Profitability Metrics

Profitability metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
ROE (TTM)	6.96%	13.52%
ROA (TTM)	11.87%	5.13%
Net Margin (TTM)	4.77%	15.04%
Operating Margin (TTM)	-0.24%	18.75%
Gross Margin (TTM)	75.90%	40.99%

Growth

Revenue Growth

Both Merck (MRK) at 1.31% and Thermo Fisher Scientific (TMO) at 3.91% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Merck (MRK) vs. Thermo Fisher Scientific (TMO): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Merck (MRK) at 8.01% and Thermo Fisher Scientific (TMO) at 7.32% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Merck (MRK) vs. Thermo Fisher Scientific (TMO): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Revenue Growth (YoY)	1.31%	3.91%
Revenue Growth (3Y CAGR)	3.12%	-0.27%
EPS Growth (YoY)	8.01%	7.32%
EPS Growth (3Y CAGR)	8.43%	0.21%

Financial Strength

Current Ratio (MRQ)

Both Merck (MRK) at 1.32 and Thermo Fisher Scientific (TMO) at 1.55 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

1.32

Max: 26.78
Q3: 12.43
Median: 5.72
Q1: 2.77
MRK: 1.32
Min: 0.10

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.55

Max: 26.78
Q3: 12.43
Median: 5.72
Q1: 2.77
TMO: 1.55
Min: 0.10

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

Debt / Equity (MRQ)

Both Merck (MRK) at 1.28 and Thermo Fisher Scientific (TMO) at 0.81 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.28

Max: 1.48
MRK: 1.28
Q3: 0.64
Median: 0.14
Q1: 0.02
Min: 0.00

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.81

Max: 1.48
TMO: 0.81
Q3: 0.64
Median: 0.14
Q1: 0.02
Min: 0.00

Merck (MRK) vs. Thermo Fisher Scientific (TMO): A comparison of their debt-to-equity ratio against the Pharmaceuticals, Biotechnology & Life Sciences industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Current Ratio (MRQ)	1.32	1.55
Debt / Equity (MRQ)	1.28	0.81
Net Debt / EBITDA	1.62	3.28

Dividends

Dividend Yield (TTM)

Both Merck (MRK) at 2.45% and Thermo Fisher Scientific (TMO) at 0.30% 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

2.45%

MRK: 2.45%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.30%

TMO: 0.30%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Merck (MRK) vs. Thermo Fisher Scientific (TMO): 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 Thermo Fisher Scientific (TMO) reports 9.69%, ranking against industry peers normally.

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%

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

9.69%

TMO: 9.69%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
Dividend Yield (TTM)	2.45%	0.30%
Dividend Payout Ratio (TTM)	268.80%	9.69%

Valuation

P/E Ratio (TTM)

Thermo Fisher Scientific (TMO) at 31.65 is near its industry’s usual P/E ratio, while Merck (MRK) at 108.67 sits above its peer range — an unusually expensive price for MRK’s trailing earnings.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

108.67

MRK: 108.67
Max: 77.53
Q3: 41.75
Median: 27.59
Q1: 15.21
Min: 0.13

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

31.65

Max: 77.53
Q3: 41.75
TMO: 31.65
Median: 27.59
Q1: 15.21
Min: 0.13

Merck (MRK) vs. Thermo Fisher Scientific (TMO): 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 Merck (MRK) at 5.03 and Thermo Fisher Scientific (TMO) at 4.69 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

5.03

Max: 73.14
Q3: 31.51
Median: 7.39
MRK: 5.03
Q1: 3.47
Min: 0.01

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.69

Max: 73.14
Q3: 31.51
Median: 7.39
TMO: 4.69
Q1: 3.47
Min: 0.01

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

P/B Ratio (MRQ)

Thermo Fisher Scientific (TMO) at 4.13 is valued about in line with its industry on P/B ratio, while Merck (MRK) at 8.00 carries an above-peer premium to book — MRK is pricier on assets.

MRK

Pharmaceuticals, Biotechnology & Life Sciences industry group

8.00

Max: 15.18
MRK: 8.00
Q3: 7.45
Median: 3.92
Q1: 1.79
Min: -5.47

TMO

Pharmaceuticals, Biotechnology & Life Sciences industry group

4.13

Max: 15.18
Q3: 7.45
TMO: 4.13
Median: 3.92
Q1: 1.79
Min: -5.47

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

Valuation Metrics

Valuation metrics for Merck (MRK) and Thermo Fisher Scientific (TMO)
Metric	MRK	TMO
P/E Ratio (TTM)	108.67	31.65
P/S Ratio (TTM)	5.03	4.69
P/B Ratio (MRQ)	8.00	4.13
Free Cash Flow Yield (TTM)	4.53%	2.87%