MRK vs. BMY

Last updated Apr 1, 2026

Compare and contrast key facts about Merck & Co., Inc. (MRK) and Bristol-Myers Squibb Company (BMY).

Performance

MRK vs. BMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Merck & Co., Inc. (MRK) and Bristol-Myers Squibb Company (BMY). The values are adjusted to include any dividend payments, if applicable.

MRK vs. BMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MRK Merck & Co., Inc.	15.13%	9.79%	-6.26%	1.01%	49.42%	1.75%	-7.20%	22.27%	39.95%	-1.49%
BMY Bristol-Myers Squibb Company	13.77%	0.11%	15.81%	-26.14%	18.98%	2.88%	0.41%	27.74%	-12.90%	7.71%

Fundamentals

Market Cap MRK : $299.28B BMY : $123.79B
EPS MRK : $7.30 BMY : $3.46
PE Ratio MRK : 16.47 BMY : 17.53
PEG Ratio MRK : 0.01 BMY : 1.00
PS Ratio MRK : 4.63 BMY : 2.57
PB Ratio MRK : 5.77 BMY : 2.22
Total Revenue (TTM) MRK : $65.01B BMY : $48.19B
Gross Profit (TTM) MRK : $52.98B BMY : $30.43B
EBITDA (TTM) MRK : $28.80B BMY : $13.82B

Returns By Period

In the year-to-date period, MRK achieves a 15.13% return, which is significantly higher than BMY's 13.77% return. Over the past 10 years, MRK has outperformed BMY with an annualized return of 12.31%, while BMY has yielded a comparatively lower 2.72% annualized return.

MRK

• 1D: 1.85%
• 1M: -2.13%
• YTD: 15.13%
• 6M: 45.62%
• 1Y: 38.88%
• 3Y*: 7.42%
• 5Y*: 13.86%
• 10Y*: 12.31%

BMY

• 1D: 1.54%
• 1M: -2.76%
• YTD: 13.77%
• 6M: 37.94%
• 1Y: 4.47%
• 3Y*: 0.11%
• 5Y*: 3.12%
• 10Y*: 2.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

MRK vs. BMY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MRK

MRK Risk / Return Rank: 79
MRK Sharpe Ratio Rank: 82
MRK Sortino Ratio Rank: 78
MRK Omega Ratio Rank: 76
MRK Calmar Ratio Rank: 80
MRK Martin Ratio Rank: 79

BMY

BMY Risk / Return Rank: 45
BMY Sharpe Ratio Rank: 48
BMY Sortino Ratio Rank: 41
BMY Omega Ratio Rank: 40
BMY Calmar Ratio Rank: 48
BMY Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MRK vs. BMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Merck & Co., Inc. (MRK) and Bristol-Myers Squibb Company (BMY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MRK	BMY	Difference
Sharpe ratio Return per unit of total volatility	1.34	0.16	+1.19
Sortino ratio Return per unit of downside risk	1.96	0.43	+1.53
Omega ratio Gain probability vs. loss probability	1.25	1.05	+0.20
Calmar ratio Return relative to maximum drawdown	2.19	0.22	+1.96
Martin ratio Return relative to average drawdown	5.34	0.35	+4.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRK vs. BMY - Sharpe Ratio Comparison

The current MRK Sharpe Ratio is 1.34, which is higher than the BMY Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of MRK and BMY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MRK	BMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	0.16	+1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.13	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.11	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.35	+0.13

Correlation

The correlation between MRK and BMY is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MRK vs. BMY - Dividend Comparison

MRK's dividend yield for the trailing twelve months is around 2.76%, less than BMY's 4.11% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MRK Merck & Co., Inc.	2.76%	3.12%	3.14%	2.72%	2.52%	3.41%	3.03%	2.48%	2.60%	3.36%	3.14%	3.43%
BMY Bristol-Myers Squibb Company	4.11%	4.60%	4.24%	4.44%	3.00%	2.36%	3.69%	2.55%	3.08%	2.55%	1.95%	2.17%

Drawdowns

MRK vs. BMY - Drawdown Comparison

The maximum MRK drawdown since its inception was -68.61%, roughly equal to the maximum BMY drawdown of -72.03%. Use the drawdown chart below to compare losses from any high point for MRK and BMY.

Drawdown Indicators

	MRK	BMY	Difference
Max Drawdown Largest peak-to-trough decline	-68.61%	-72.03%	+3.42%
Max Drawdown (1Y) Largest decline over 1 year	-15.67%	-25.79%	+10.12%
Max Drawdown (5Y) Largest decline over 5 years	-43.44%	-47.67%	+4.23%
Max Drawdown (10Y) Largest decline over 10 years	-43.44%	-47.67%	+4.23%
Current Drawdown Current decline from peak	-4.04%	-13.61%	+9.57%
Average Drawdown Average peak-to-trough decline	-18.89%	-22.40%	+3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.44%	17.63%	-10.19%

Volatility

MRK vs. BMY - Volatility Comparison

The current volatility for Merck & Co., Inc. (MRK) is 5.85%, while Bristol-Myers Squibb Company (BMY) has a volatility of 6.67%. This indicates that MRK experiences smaller price fluctuations and is considered to be less risky than BMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRK	BMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	6.67%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	19.42%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	29.08%	28.60%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.30%	23.66%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	25.08%	-2.40%

Financials

MRK vs. BMY - Profitability Comparison

The chart below illustrates the profitability comparison between Merck & Co., Inc. and Bristol-Myers Squibb Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MRK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Merck & Co., Inc. reported a gross profit of 15.20B and revenue of 16.40B. Therefore, the gross margin over that period was 92.7%.

BMY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Bristol-Myers Squibb Company reported a gross profit of 6.24B and revenue of 12.50B. Therefore, the gross margin over that period was 49.9%.

MRK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Merck & Co., Inc. reported an operating income of 8.74B and revenue of 16.40B, resulting in an operating margin of 53.3%.

BMY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Bristol-Myers Squibb Company reported an operating income of 1.47B and revenue of 12.50B, resulting in an operating margin of 11.8%.

MRK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Merck & Co., Inc. reported a net income of 2.96B and revenue of 16.40B, resulting in a net margin of 18.1%.

BMY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Bristol-Myers Squibb Company reported a net income of 1.09B and revenue of 12.50B, resulting in a net margin of 8.7%.