MRK vs. WAT: Merck vs. Waters Stock Comparison
How do Merck (MRK) and Waters (WAT) 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 Waters (WAT) both fall under the Pharmaceuticals, Biotechnology & Life Sciences industry group, but MRK is classified in Pharmaceuticals while WAT is classified in Life Sciences Tools & Services.
| Profile Item | MRK | WAT |
|---|---|---|
| Name | Merck & Co., Inc. | Waters Corporation |
| 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 | 361.73 billion USD | 44.93 billion USD |
| Currency | USD | USD |
| Exchange | NYSE | NYSE |
| Listing Date | January 2, 1962 | November 17, 1995 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | MRK | WAT |
|---|---|---|
| Total Return (1Y) | 76.14% | 27.70% |
| Total Return (3Y, Annualized) | 16.48% | 23.32% |
| Total Return (5Y, Annualized) | 15.77% | 6.27% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
Merck (MRK) is heavily traded at around 10.24M shares per day, whereas Waters (WAT) sees a more moderate 816.72K — larger orders in the latter may require more patience and tighter control over order sizing.
| Metric | MRK | WAT |
|---|---|---|
| Volatility (1Y, Annualized) | 30.24% | 35.45% |
| Beta (5Y) | 0.11 | 1.13 |
| Max Drawdown (5Y) | -43.44% | -36.47% |
| Avg. Volume (3M) | 10.24M | 816.72K |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | MRK | WAT |
|---|---|---|
| Sharpe Ratio (1Y) | 2.38 | 0.66 |
| Sortino Ratio (1Y) | 4.33 | 0.98 |
Profitability
ROE (TTM)
Both Merck (MRK) at 5.06% and Waters (WAT) at 1.12% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.
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%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.12%
- Max
- 109.18%
- Q3
- 6.23%
- WAT
- 1.12%
- Median
- -26.66%
- Q1
- -64.05%
- Min
- -167.77%
Net Margin (TTM)
Both Merck (MRK) at 3.64% and Waters (WAT) at 1.76% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.
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%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
1.76%
- Max
- 18.05%
- Q3
- 4.78%
- WAT
- 1.76%
- Median
- 0.00%
- Q1
- -4.14%
- Min
- -17.05%
Operating Margin (TTM)
Merck (MRK) at 35.22% operates in the top operating margin quartile, ahead of Waters (WAT) at 11.38%, which runs around its industry’s norm.
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%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
11.38%
- Max
- 83.12%
- Q3
- 14.77%
- WAT
- 11.38%
- Median
- 0.00%
- Q1
- -78.82%
- Min
- -207.40%
Profitability Metrics
| Metric | MRK | WAT |
|---|---|---|
| ROE (TTM) | 5.06% | 1.12% |
| ROA (TTM) | 11.29% | 2.36% |
| Net Margin (TTM) | 3.64% | 1.76% |
| Operating Margin (TTM) | 35.22% | 11.38% |
| Gross Margin (TTM) | 75.20% | 49.83% |
Growth
Revenue Growth
Both Merck (MRK) at 1.31% and Waters (WAT) at 6.99% 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 Waters (WAT) at 0.47% 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 | WAT |
|---|---|---|
| Revenue Growth (YoY) | 1.31% | 6.99% |
| Revenue Growth (3Y CAGR) | 3.12% | 2.12% |
| EPS Growth (YoY) | 8.01% | 0.47% |
| EPS Growth (3Y CAGR) | 8.43% | -2.84% |
Financial Strength
Current Ratio (MRQ)
Short-term liquidity can only be read on one side of this pairing: Merck (MRK) shows current ratio of 1.35 against its industry benchmark, while Waters (WAT) has no reading this period.
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
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
--
- Max
- 25.13
- Q3
- 12.13
- Median
- 5.52
- Q1
- 2.47
- Min
- 0.10
- WAT
- --
Debt / Equity (MRQ)
Waters (WAT) at 0.34 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
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.34
- Max
- 1.42
- Q3
- 0.65
- WAT
- 0.34
- Median
- 0.15
- Q1
- 0.02
- Min
- 0.00
Financial Strength Metrics
| Metric | MRK | WAT |
|---|---|---|
| Current Ratio (MRQ) | 1.35 | -- |
| Debt / Equity (MRQ) | 1.20 | 0.34 |
| Net Debt / EBITDA | 1.50 | 3.23 |
Dividends
Dividend Yield (TTM)
Waters (WAT) 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.
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%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- WAT
- 0.00%
- 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; Waters (WAT) pays no dividend (payout 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%
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
0.00%
- WAT
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | MRK | WAT |
|---|---|---|
| Dividend Yield (TTM) | 2.29% | 0.00% |
| Dividend Payout Ratio (TTM) | 343.43% | 0.00% |
Valuation
P/E Ratio (TTM)
Both Merck (MRK) at 148.21 and Waters (WAT) at 191.46 trade above their industries’ P/E ratio peer ranges, pointing to unusually expensive trailing earnings relative to 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
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
191.46
- WAT
- 191.46
- Max
- 85.34
- Q3
- 43.46
- Median
- 26.69
- Q1
- 13.30
- Min
- 0.07
P/S Ratio (TTM)
On P/S ratio, both Merck (MRK) at 5.37 and Waters (WAT) at 8.01 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.
MRK
Pharmaceuticals, Biotechnology & Life Sciences industry group
5.37
- Max
- 58.18
- Q3
- 25.77
- Median
- 7.30
- MRK
- 5.37
- Q1
- 3.01
- Min
- 0.01
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
8.01
- Max
- 58.18
- Q3
- 25.77
- WAT
- 8.01
- Median
- 7.30
- Q1
- 3.01
- Min
- 0.01
P/B Ratio (MRQ)
Waters (WAT) at 2.94 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
WAT
Pharmaceuticals, Biotechnology & Life Sciences industry group
2.94
- Max
- 13.53
- Q3
- 6.54
- Median
- 3.25
- WAT
- 2.94
- Q1
- 1.69
- Min
- -5.59
Valuation Metrics
| Metric | MRK | WAT |
|---|---|---|
| P/E Ratio (TTM) | 148.21 | 191.46 |
| P/S Ratio (TTM) | 5.37 | 8.01 |
| P/B Ratio (MRQ) | 8.06 | 2.94 |
| Free Cash Flow Yield (TTM) | 3.88% | -- |