Merck KGaA (MRK) - Net Assets

Latest as of December 2025: €28.66 Billion EUR ≈ $33.51 Billion USD

Based on the latest financial reports, Merck KGaA (MRK) has net assets worth €28.66 Billion EUR (≈ $33.51 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€52.10 Billion ≈ $60.91 Billion USD) and total liabilities (€23.44 Billion ≈ $27.40 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Merck KGaA (MRK) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	€28.66 Billion
% of Total Assets	55.01%
Annual Growth Rate	12.14%
5-Year Change	33.83%
10-Year Change	103.99%
Growth Volatility	25.8

Merck KGaA - Net Assets Trend (2002–2025)

This chart illustrates how Merck KGaA's net assets have evolved over time, based on quarterly financial data. See MRK cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Merck KGaA (2002–2025)

The table below shows the annual net assets of Merck KGaA from 2002 to 2025. For live valuation and market cap data, see how much is Merck KGaA worth.

Year	Net Assets	Change
2025-12-31	€28.66 Billion ≈ $33.51 Billion	-4.43%
2024-12-31	€29.99 Billion ≈ $35.06 Billion	+12.08%
2023-12-31	€26.75 Billion ≈ $31.28 Billion	+2.88%
2022-12-31	€26.00 Billion ≈ $30.40 Billion	+21.43%
2021-12-31	€21.42 Billion ≈ $25.04 Billion	+25.85%
2020-12-31	€17.02 Billion ≈ $19.89 Billion	-5.00%
2019-12-31	€17.91 Billion ≈ $20.94 Billion	+3.95%
2018-12-31	€17.23 Billion ≈ $20.15 Billion	+22.52%
2017-12-31	€14.07 Billion ≈ $16.44 Billion	+0.11%
2016-12-31	€14.05 Billion ≈ $16.43 Billion	+9.29%
2015-12-31	€12.86 Billion ≈ $15.03 Billion	+8.93%
2014-12-31	€11.80 Billion ≈ $13.80 Billion	+6.61%
2013-12-31	€11.07 Billion ≈ $12.94 Billion	+6.28%
2012-12-31	€10.41 Billion ≈ $12.18 Billion	-0.75%
2011-12-31	€10.49 Billion ≈ $12.27 Billion	+1.17%
2010-12-31	€10.37 Billion ≈ $12.13 Billion	+9.02%
2009-12-31	€9.51 Billion ≈ $11.12 Billion	-1.11%
2008-12-31	€9.62 Billion ≈ $11.25 Billion	+10.74%
2007-12-31	€8.69 Billion ≈ $10.16 Billion	+128.18%
2006-12-31	€3.81 Billion ≈ $4.45 Billion	+14.37%
2005-12-31	€3.33 Billion ≈ $3.89 Billion	+15.00%
2004-12-31	€2.89 Billion ≈ $3.38 Billion	+22.52%
2003-12-31	€2.36 Billion ≈ $2.76 Billion	+15.06%
2002-12-31	€2.05 Billion ≈ $2.40 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Merck KGaA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 2401400000000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	€24.01 Billion	83.99%
Common Stock	€565.00 Million	1.98%
Other Comprehensive Income	€199.00 Million	0.70%
Other Components	€3.81 Billion	13.34%
Total Equity	€28.59 Billion	100.00%

Merck KGaA Competitors by Market Cap

The table below lists competitors of Merck KGaA ranked by their market capitalization.

Company	Market Cap
Centrais Elétricas Brasileiras S.A. - Eletrobrás SA:AXIA3	$20.09 Billion
KGHM Polska Miedz SA WAR:KGH	$20.12 Billion
CHINA SHENHUA EN.A ADR/4 F:IKFC	$20.14 Billion
MTU Aero Engines AG XETRA:MTX	$20.17 Billion
Korea Shipbuilding & Offshore Engineering Co Ltd KO:009540	$20.08 Billion
Amer Sports, Inc. NYSE:AS	$20.07 Billion
BioNTech SE F:22UA	$20.05 Billion
Brown & Brown Inc NYSE:BRO	$20.03 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Merck KGaA's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 29,912,000,000 to 28,592,000,000, a change of -1,320,000,000 (-4.4%).
Net income of 2,608,000,000 contributed positively to equity growth.
Dividend payments of 1,039,000,000 reduced retained earnings.
Other comprehensive income decreased equity by 2,915,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	€2.61 Billion	+9.12%
Dividends Paid	€1.04 Billion	-3.63%
Other Comprehensive Income	€-2.92 Billion	-10.2%
Other Changes	€26.00 Million	+0.09%
Total Change	€-	-4.41%

Book Value vs Market Value Analysis

This analysis compares Merck KGaA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 2.02x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 23.06x to 2.02x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	€5.76	€132.90	x
2003-12-31	€6.36	€132.90	x
2004-12-31	€7.41	€132.90	x
2005-12-31	€8.32	€132.90	x
2006-12-31	€9.67	€132.90	x
2007-12-31	€19.98	€132.90	x
2008-12-31	€21.86	€132.90	x
2009-12-31	€21.76	€132.90	x
2010-12-31	€23.76	€132.90	x
2011-12-31	€24.03	€132.90	x
2012-12-31	€23.86	€132.90	x
2013-12-31	€25.39	€132.90	x
2014-12-31	€26.99	€132.90	x
2015-12-31	€29.36	€132.90	x
2016-12-31	€32.20	€132.90	x
2017-12-31	€32.20	€132.90	x
2018-12-31	€39.56	€132.90	x
2019-12-31	€41.09	€132.90	x
2020-12-31	€38.98	€132.90	x
2021-12-31	€49.08	€132.90	x
2022-12-31	€59.63	€132.90	x
2023-12-31	€61.36	€132.90	x
2024-12-31	€68.80	€132.90	x
2025-12-31	€65.76	€132.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Merck KGaA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.12%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 12.36%
• Asset Turnover: 0.41x
• Equity Multiplier: 1.82x
Recent ROE (9.12%) is below the historical average (10.68%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2002	10.69%	2.91%	0.99x	3.73x	€13.88 Million
2003	9.33%	3.02%	1.03x	2.99x	€-15.66 Million
2004	23.09%	12.33%	0.93x	2.01x	€373.31 Million
2005	20.11%	11.42%	0.79x	2.22x	€331.23 Million
2006	26.19%	22.04%	0.55x	2.16x	€607.77 Million
2007	0.34%	0.41%	0.47x	1.73x	€-833.37 Million
2008	3.86%	4.86%	0.48x	1.65x	€-583.44 Million
2009	3.87%	4.73%	0.46x	1.77x	€-579.71 Million
2010	6.12%	6.80%	0.41x	2.17x	€-400.88 Million
2011	5.81%	5.90%	0.46x	2.12x	€-438.20 Million
2012	5.47%	5.07%	0.52x	2.09x	€-469.44 Million
2013	10.91%	10.84%	0.53x	1.89x	€100.20 Million
2014	9.86%	10.18%	0.44x	2.22x	€-16.86 Million
2015	8.72%	8.68%	0.34x	2.97x	€-163.95 Million
2016	11.64%	10.84%	0.39x	2.73x	€230.10 Million
2017	18.60%	17.94%	0.41x	2.54x	€1.20 Billion
2018	6.57%	7.62%	0.40x	2.14x	€-590.00 Million
2019	7.39%	8.17%	0.37x	2.45x	€-466.50 Million
2020	11.73%	11.33%	0.42x	2.47x	€292.40 Million
2021	14.32%	15.52%	0.43x	2.13x	€921.20 Million
2022	12.82%	14.96%	0.46x	1.87x	€732.30 Million
2023	10.58%	13.45%	0.43x	1.82x	€156.00 Million
2024	9.28%	13.13%	0.41x	1.72x	€-214.20 Million
2025	9.12%	12.36%	0.41x	1.82x	€-251.20 Million

Industry Comparison

This section compares Merck KGaA's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $6,522,543,280
Average return on equity (ROE) among peers: -40.38%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Merck KGaA (MRK)	€28.66 Billion	10.69%	0.82x	$20.08 Billion
SHANG.FOS.PHARM.GR.H YC 1 (08HH)	$61.84 Billion	5.45%	0.94x	$1.12 Billion
PEPTONIC MEDICAL (28L)	$53.12 Million	-138.73%	0.59x	$4.14 Million
Tianjin Zhong Xin Pharmaceutical Group Corporation Limited (2TZ)	$2.95 Billion	12.14%	0.85x	$692.11 Million
WEST ISLAND BRANDS INC. (39N0)	$3.27 Million	-157.21%	0.88x	$1.34 Million
AYURCANN HOLDINGS CORP. (3ZQ0)	$4.89 Million	-63.10%	0.49x	$97.35K
CERENO SCIENTIFIC AB B (4A1)	$191.93 Million	-51.86%	1.16x	$157.72 Million
MAPLE LEAF GREEN WORLD (4HV0)	$-8.83 Million	0.00%	0.00x	$504.30K
LORDS CO. WORLDW. HOLD. (4XM)	$-1.01 Million	0.00%	0.00x	$134.78K
RED LIGHT HOLLAND CORP. (4YX)	$17.35 Million	-23.30%	0.22x	$7.31 Million
EQL PHARMA AB (7JK)	$177.73 Million	12.78%	1.10x	$78.20 Million

About Merck KGaA

XETRA:MRK Germany Drug Manufacturers - Specialty & Generic

Market Cap

$20.08 Billion

€17.18 Billion EUR

Market Cap Rank

#1294 Global

#285 in Germany

Share Price

€132.90

Change (1 day)

-0.11%

52-Week Range

€102.80 - €139.50

All Time High

€220.61