Side by sideLilly (LLY) and Merck (MRK)Memos of October 10, 2026 and October 12, 2026
Lilly vs Merck stock: the numbers side by side (October 2026)
How do Lilly and Merck compare?
| Lilly LLY | Merck MRK | |
|---|---|---|
| Revenue growth | 44.7%Year to Dec 2025 | 1.3%2025 |
| Operating margin | 40.4%Year to Dec 2025 | 32.6%2025 |
| Free cash flow | 8,972US$ millions · Year to Dec 2025 | 12,360US$ millions · 2025 |
| Free cash flow yield | 1.7%Today (Oct 8, 2026) | 3.4%Today (Oct 11, 2026) |
| Dividend yield | 0.6%Today (Oct 8, 2026) | 2.3%Today (Oct 11, 2026) |
| P/E, last 12 months | 39.3xToday (Oct 8, 2026) | 116.5xToday (Oct 11, 2026) |
| P/E, next 12 months | 24.9xToday (Oct 8, 2026) | 15.6xToday (Oct 11, 2026) |
| Weighted price forecast, about 1 year | 1143.18 (-2 %)October 2027 | 131.92 (-7 %)October 2027 |
| Weighted price forecast, about 3 years | 1299.88 (+13 %)October 2029 | 106.83 (-19 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Lilly | The higher figure |
| Operating margin | Lilly | The higher figure |
| Free cash flow | Merck | The higher figure |
| Free cash flow yield | Merck | The higher figure |
| Dividend yield | Merck | The higher figure |
| P/E, last 12 months | Lilly | The lower figure |
| P/E, next 12 months | Merck | The lower figure |
| Weighted price forecast, about 1 year | Lilly | The higher weighted return |
| Weighted price forecast, about 3 years | Lilly | The higher weighted return |
What does each company do?
Lilly discovers, makes and sells prescription medicines for diabetes, chronic weight management, cancer, inflammatory disease, migraine, Alzheimer’s disease and osteoporosis.
Lilly (LLY), from our memo of October 10, 2026 · Lilly stock forecast
Merck sells human medicines and vaccines through clinics, hospitals, wholesalers—distributors that move products to pharmacies and care sites—health plans and governments.
Merck (MRK), from our memo of October 12, 2026 · Merck stock forecast