Price to Sales (P/S)
since 2005
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Merck & Co. Inc. pages available for free this week:
- Income Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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Calculation
Merck & Co. Inc., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 13, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Merck & Co. Inc. Annual Report.
The price-to-sales (P/S) ratio for the period examined exhibits considerable fluctuation. Initially, the ratio demonstrates an increase from 3.50 in 2006 to 4.23 in 2007, followed by a slight decrease to 4.04 in 2008. A significant decline is then observed in 2009, with the P/S ratio falling to 2.14. Subsequent recovery occurs through 2010, returning to 4.23, but is then followed by another substantial drop to 2.18 in 2011.
From 2011 to 2014, the P/S ratio generally trends upward, increasing from 2.18 to 3.93. The period between 2014 and 2017 shows volatility, with the ratio peaking at 4.92 in 2014, decreasing to 3.68 in 2018, and then rising again to 4.54 in 2017. A decline is then observed in 2018, followed by a substantial increase to 4.92 in 2019. The ratio then decreases to 4.33 in 2020 and 3.93 in 2021, before increasing to 4.71 in 2022 and reaching a peak of 5.43 in 2023. A decrease is observed in 2024 to 3.60, followed by an increase to 4.71 in 2025.
- Overall Trend
- The P/S ratio does not demonstrate a consistent long-term trend. It exhibits periods of increase and decrease, with significant volatility throughout the examined timeframe. The ratio appears to be sensitive to changes in share price and sales per share.
- Significant Fluctuations
- The most notable declines in the P/S ratio occur in 2009 and 2011. These declines coincide with periods of economic uncertainty and may reflect investor concerns regarding future sales growth. The increases in 2014, 2019, 2022 and 2023 suggest periods of positive investor sentiment or expectations of increased sales.
- Recent Performance
- The most recent years (2022-2025) show a pattern of increase followed by decrease, indicating potential cyclicality or responsiveness to short-term market conditions. The ratio increased from 3.96 in 2021 to 5.43 in 2023, then decreased to 3.60 in 2024 and increased again to 4.71 in 2025.
The observed fluctuations in the P/S ratio suggest that investor valuation of sales has been dynamic over the period, influenced by a variety of factors not explicitly contained within the presented information.
Comparison to Competitors
Merck & Co. Inc., P/S, long-term trends, comparison to competitors
| Merck & Co. Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 24, 2026 | ||||||||||||
| Feb 25, 2025 | ||||||||||||
| Feb 26, 2024 | ||||||||||||
| Feb 24, 2023 | ||||||||||||
| Feb 25, 2022 | ||||||||||||
| Feb 25, 2021 | ||||||||||||
| Feb 26, 2020 | ||||||||||||
| Feb 27, 2019 | ||||||||||||
| Feb 27, 2018 | ||||||||||||
| Feb 28, 2017 | ||||||||||||
| Feb 26, 2016 | ||||||||||||
| Feb 27, 2015 | ||||||||||||
| Feb 27, 2014 | ||||||||||||
| Feb 28, 2013 | ||||||||||||
| Feb 28, 2012 | ||||||||||||
| Feb 28, 2011 | ||||||||||||
| Mar 1, 2010 | ||||||||||||
| Feb 27, 2009 | ||||||||||||
| Feb 28, 2008 | ||||||||||||
| Feb 28, 2007 | ||||||||||||
| Mar 13, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Merck & Co. Inc., P/S, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Merck & Co. Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 24, 2026 | ||
| Feb 25, 2025 | ||
| Feb 26, 2024 | ||
| Feb 24, 2023 | ||
| Feb 25, 2022 | ||
| Feb 25, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 27, 2018 | ||
| Feb 28, 2017 | ||
| Feb 26, 2016 | ||
| Feb 27, 2015 | ||
| Feb 27, 2014 | ||
| Feb 28, 2013 | ||
| Feb 28, 2012 | ||
| Feb 28, 2011 | ||
| Mar 1, 2010 | ||
| Feb 27, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 13, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Merck & Co. Inc., P/S, long-term trends, comparison to industry (health care)
| Merck & Co. Inc. | Health Care | |
|---|---|---|
| Feb 24, 2026 | ||
| Feb 25, 2025 | ||
| Feb 26, 2024 | ||
| Feb 24, 2023 | ||
| Feb 25, 2022 | ||
| Feb 25, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 27, 2018 | ||
| Feb 28, 2017 | ||
| Feb 26, 2016 | ||
| Feb 27, 2015 | ||
| Feb 27, 2014 | ||
| Feb 28, 2013 | ||
| Feb 28, 2012 | ||
| Feb 28, 2011 | ||
| Mar 1, 2010 | ||
| Feb 27, 2009 | ||
| Feb 28, 2008 | ||
| Feb 28, 2007 | ||
| Mar 13, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).