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Merck & Co. (MRK, Pharmaceuticals) Stock Valuation & Fair Value Significantly overvalued

Merck & Co. (MRK, Pharmaceuticals) trades at a blended P/E of 33.7, about 140% above its historical normal valuation, with a forward growth estimate of 49.2% and a PEG of 0.68. Analysts' one-year estimates have been hit 82% of the time. Priced at its historical normal P/E of 14.0 on the same blended earnings, the 2026-10-02 close of $144.30 corresponds to about $60.10 a share. This is a valuation reference, not a price target.

Blended P/E
33.7
Normal P/E
14.0
PEG
0.68
Fwd growth
49.2%
Div yield
2.4%
RSI (14)
45.0
Neutral
Technical context
  • Price $142.38 at the 2026-10-08 close, 2.2% below the 20-day average ($145.65) and 0.2% below the 50-day ($142.61).
  • RSI (14) at 45.0.
  • 52-week range $80.14 to $155.53: the price is 8.5% below the high and 77.7% above the low.
  • At its last earnings report the options market priced a 3.9% move.

The Street vs SeerForecast

Wall Street's mean price target for MRK is $155.76 across 25 analysts, 9.4% above the current price. The average analyst rating is Buy. Our SeerForecast read of the same stock, formed without analyst targets: significantly overvalued. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating moved from favorable on our tests (2026-06-03) to significantly overvalued (2026-10-05). New rating rules took effect in the week of 2026-09-28, and this rating moved across that change, so part of the move may come from the new rules rather than the company.

Blended P/E and rating by weekBlended P/E moved from 16.1 to 33.7 between 2026-06-03 and 2026-10-02, against a normal P/E of 14.0, with 1 rating change over 37 recorded weeks.2026-06-03: P/E 16.1, Favorable on our tests, recalculated for the week of 2026-06-032026-06-10: P/E 16.5, Favorable on our tests, recalculated for the week of 2026-06-102026-06-12: P/E 16.5, Favorable on our tests, recalculated for the week of 2026-06-142026-06-16: P/E 16.5, Favorable on our tests, recalculated for the week of 2026-06-162026-06-18: P/E 16.5, Favorable on our tests, recalculated for the week of 2026-06-212026-07-02: P/E 17.7, Favorable on our tests, recalculated for the week of 2026-07-022026-07-06: P/E 18.4, Favorable on our tests, recalculated for the week of 2026-07-062026-07-09: P/E 18.4, Favorable on our tests, recalculated for the week of 2026-07-092026-07-10: P/E 17.7, Favorable on our tests, recalculated for the week of 2026-07-122026-07-13: P/E 17.7, Favorable on our tests, recalculated for the week of 2026-07-132026-07-14: P/E 17.7, Favorable on our tests, recalculated for the week of 2026-07-142026-07-20: P/E 22.9, Favorable on our tests, recalculated for the week of 2026-07-202026-07-22: P/E 22.9, Favorable on our tests, recalculated for the week of 2026-07-222026-07-24: P/E 24.0, Favorable on our tests, recalculated for the week of 2026-07-252026-07-27: P/E 24.0, Favorable on our tests, recalculated for the week of 2026-07-272026-07-31: P/E 24.3, Favorable on our tests, recalculated for the week of 2026-07-312026-07-31: P/E 24.4, Favorable on our tests, recorded live 2026-08-032026-08-07: P/E 24.4, Favorable on our tests, recalculated for the week of 2026-08-072026-08-07: P/E 24.6, Favorable on our tests, recorded live 2026-08-102026-08-14: P/E 26.4, Favorable on our tests, recalculated for the week of 2026-08-142026-08-14: P/E 26.5, Favorable on our tests, recorded live 2026-08-172026-08-21: P/E 29.7, Favorable on our tests, recalculated for the week of 2026-08-212026-08-21: P/E 30.5, Favorable on our tests, recorded live 2026-08-242026-08-27: P/E 30.5, Favorable on our tests, recalculated for the week of 2026-08-272026-08-28: P/E 30.5, Favorable on our tests, recalculated for the week of 2026-08-282026-08-28: P/E 30.4, Favorable on our tests, recalculated for the week of 2026-08-302026-08-28: P/E 30.4, Favorable on our tests, recorded live 2026-08-312026-09-04: P/E 31.6, Favorable on our tests, recalculated for the week of 2026-09-052026-09-04: P/E 31.6, Favorable on our tests, recorded live 2026-09-072026-09-11: P/E 31.0, Favorable on our tests, recalculated for the week of 2026-09-122026-09-11: P/E 31.0, Favorable on our tests, recorded live 2026-09-142026-09-18: P/E 32.5, Favorable on our tests, recalculated for the week of 2026-09-192026-09-18: P/E 32.5, Favorable on our tests, recorded live 2026-09-212026-09-25: P/E 33.8, Favorable on our tests, recalculated for the week of 2026-09-262026-09-25: P/E 33.8, Significantly overvalued, recorded live 2026-09-282026-10-02: P/E 33.7, Significantly overvalued, recalculated for the week of 2026-10-032026-10-02: P/E 33.7, Significantly overvalued, recorded live 2026-10-0515.020.025.030.0Jun 3Jul 3Aug 2Sep 2Oct 2Normal P/E 14.0
Favorable on our testsSignificantly overvaluedLarger dot: a stronger reading

Not every point was recorded live. Points marked recalculated apply today's valuation rules to the metrics tickerseer archived that week.

Selected weeks: the first, the latest, every week the rating moved, and the cheapest and dearest.

WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 16.1+15%Favorable on our tests (recalculated)
2026-09-26P/E 33.8+141%Favorable on our tests (recalculated)
2026-09-28P/E 33.8+141%Significantly overvalued (across a rating rules change)
2026-10-05P/E 33.7+140%Significantly overvalued ← now
Show all 37 weeks
WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 16.1+15%Favorable on our tests (recalculated)
2026-06-10P/E 16.5+17%Favorable on our tests (recalculated)
2026-06-14P/E 16.5+17%Favorable on our tests (recalculated)
2026-06-16P/E 16.5+17%Favorable on our tests (recalculated)
2026-06-21P/E 16.5+17%Favorable on our tests (recalculated)
2026-07-02P/E 17.7+26%Favorable on our tests (recalculated)
2026-07-06P/E 18.4+31%Favorable on our tests (recalculated)
2026-07-09P/E 18.4+31%Favorable on our tests (recalculated)
2026-07-12P/E 17.7+26%Favorable on our tests (recalculated)
2026-07-13P/E 17.7+26%Favorable on our tests (recalculated)
2026-07-14P/E 17.7+26%Favorable on our tests (recalculated)
2026-07-20P/E 22.9+63%Favorable on our tests (recalculated)
2026-07-22P/E 22.9+63%Favorable on our tests (recalculated)
2026-07-25P/E 24.0+71%Favorable on our tests (recalculated)
2026-07-27P/E 24.0+71%Favorable on our tests (recalculated)
2026-07-31P/E 24.3+73%Favorable on our tests (recalculated)
2026-08-03P/E 24.4+74%Favorable on our tests
2026-08-07P/E 24.4+74%Favorable on our tests (recalculated)
2026-08-10P/E 24.6+75%Favorable on our tests
2026-08-14P/E 26.4+88%Favorable on our tests (recalculated)
2026-08-17P/E 26.5+89%Favorable on our tests
2026-08-21P/E 29.7+111%Favorable on our tests (recalculated)
2026-08-24P/E 30.5+117%Favorable on our tests
2026-08-27P/E 30.5+117%Favorable on our tests (recalculated)
2026-08-28P/E 30.5+117%Favorable on our tests (recalculated)
2026-08-30P/E 30.4+116%Favorable on our tests (recalculated)
2026-08-31P/E 30.4+116%Favorable on our tests
2026-09-05P/E 31.6+125%Favorable on our tests (recalculated)
2026-09-07P/E 31.6+125%Favorable on our tests
2026-09-12P/E 31.0+121%Favorable on our tests (recalculated)
2026-09-14P/E 31.0+121%Favorable on our tests
2026-09-19P/E 32.5+131%Favorable on our tests (recalculated)
2026-09-21P/E 32.5+131%Favorable on our tests
2026-09-26P/E 33.8+141%Favorable on our tests (recalculated)
2026-09-28P/E 33.8+141%Significantly overvalued (across a rating rules change)
2026-10-03P/E 33.7+140%Significantly overvalued (recalculated)
2026-10-05P/E 33.7+140%Significantly overvalued ← now

Earnings moves: MRK moved more than the options market implied in 0 of 1 recent tracked reports.

Frequently asked questions

Is Merck & Co. stock overvalued?

At a blended P/E of 33.7 versus its historical normal P/E of 14.0, Merck & Co. trades about 140% above its typical valuation, with a PEG of 0.68 on 49.2% forward growth. tickerseer currently rates it significantly overvalued.

What is Merck & Co.'s fair value and PEG?

Merck & Co. trades at a blended P/E of 33.7 against a historical normal P/E of 14.0, a PEG of 0.68, and a forward growth estimate of 49.2%. Priced at its historical normal P/E of 14.0 on the same blended earnings, the 2026-10-02 close of $144.30 corresponds to about $60.10 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of Merck & Co. changed?

tickerseer's rating moved from favorable on our tests (2026-06-03) to significantly overvalued (2026-10-05). New rating rules took effect in the week of 2026-09-28, and this rating moved across that change, so part of the move may come from the new rules rather than the company.

What is the analyst price target for Merck & Co.?

The mean Wall Street price target for Merck & Co. is $155.76 across 25 analysts, 9.4% above the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Pharmaceuticals. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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