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Intrinsic value of Merck & Co., Inc. (MRK)

Previous Close$93.55
Intrinsic Value
Upside potential
Previous Close
$93.55

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Cash & ST Investments
Total debt
Market cap, m$
236,494

Based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %17.7NaN
Revenue, $48907NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m35708NaN
Operating income, $m13199NaN
EBITDA, $m16413NaN
Interest expense (income), $mNaN
Earnings before tax, $m14570NaN
Tax expense, $m1521NaN
Net income, $m13049NaN

BALANCE SHEET

Cash and short-term investments, $m8096NaN
Total assets, $m105694NaN
Adjusted assets (=assets-cash), $m97598NaN
Average production assets, $m58367NaN
Working capital, $m6394NaN
Total debt, $m34631NaN
Total liabilities, $m67510NaN
Total equity, $m38184NaN
Debt-to-equity ratio0.907NaN
Adjusted equity ratio0.336NaN

CASH FLOW

Net income, $m13049NaN
Depreciation, amort., depletion, $m3214NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m14109NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-4448NaN
Free cash flow, $m18557NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m6394
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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