Side by sideMerck (MRK) and Amgen (AMGN)Memos of October 12, 2026 and October 13, 2026
Merck vs Amgen stock: the numbers side by side (October 2026)
How do Merck and Amgen compare?
| Merck MRK | Amgen AMGN | |
|---|---|---|
| Revenue growth | 1.3%2025 | 10.0%2025 |
| Operating margin | 32.6%2025 | 24.7%2025 |
| Free cash flow | 12,360US$ millions · 2025 | 8,100US$ millions · 2025 |
| Free cash flow yield | 3.4%Today (Oct 11, 2026) | 3.6%Today (Oct 12, 2026) |
| Dividend yield | 2.3%Today (Oct 11, 2026) | 2.4%Today (Oct 12, 2026) |
| P/E, last 12 months | 116.5xToday (Oct 11, 2026) | 26.0xToday (Oct 12, 2026) |
| P/E, next 12 months | 15.6xToday (Oct 11, 2026) | 17.1xToday (Oct 12, 2026) |
| Weighted price forecast, about 1 year | 131.92 (-7 %)October 2027 | 519.76 (+27 %)October 2027 |
| Weighted price forecast, about 3 years | 106.83 (-19 %)October 2029 | 548.42 (+39 %)October 2029 |
Who leads on what?
| Leads | The lead is | |
|---|---|---|
| Revenue growth | Amgen | The higher figure |
| Operating margin | Merck | The higher figure |
| Free cash flow | Merck | The higher figure |
| Free cash flow yield | Amgen | The higher figure |
| Dividend yield | Amgen | The higher figure |
| P/E, last 12 months | Amgen | The lower figure |
| P/E, next 12 months | Merck | The lower figure |
| Weighted price forecast, about 1 year | Amgen | The higher weighted return |
| Weighted price forecast, about 3 years | Amgen | The higher weighted return |
What does each company do?
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
Amgen develops, makes and sells prescription medicines for bone, cardiovascular, inflammatory, cancer, rare-disease and other conditions.
Amgen (AMGN), from our memo of October 13, 2026 · Amgen stock forecast