MRK vs. PM
MRK (Merck & Co., Inc.) and PM (Philip Morris International Inc.) are both stocks. MRK operates in Drug Manufacturers - General (Healthcare), while PM operates in Tobacco (Consumer Defensive). Over the past 10 years, MRK returned 11.59%/yr vs 11.71%/yr for PM. At a 0.35 correlation, their price movements are largely independent.
Performance
MRK vs. PM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MRK achieves a 13.94% return, which is significantly lower than PM's 15.93% return. Both investments have delivered pretty close results over the past 10 years, with MRK having a 11.59% annualized return and PM not far ahead at 11.71%.
MRK
- 1D
- -1.42%
- 1M
- 6.89%
- YTD
- 13.94%
- 6M
- 20.60%
- 1Y
- 50.99%
- 3Y*
- 5.87%
- 5Y*
- 12.81%
- 10Y*
- 11.59%
PM
- 1D
- 1.95%
- 1M
- -2.80%
- YTD
- 15.93%
- 6M
- 22.12%
- 1Y
- 3.53%
- 3Y*
- 31.18%
- 5Y*
- 18.78%
- 10Y*
- 11.71%
MRK vs. PM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 13.94% | 9.79% | -6.26% | 1.01% | 49.42% | 1.75% | -7.20% | 22.27% | 39.95% | -1.49% |
PM Philip Morris International Inc. | 15.93% | 37.99% | 34.34% | -1.85% | 12.31% | 20.78% | 3.69% | 35.02% | -33.30% | 19.85% |
Correlation
The correlation between MRK and PM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2008 | 0.35 |
The correlation between MRK and PM shifts across timeframes, from 0.20 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
Fundamentals
MRK:
$294.29B
PM:
$288.03B
MRK:
$3.58
PM:
$7.12
MRK:
33.21
PM:
25.90
MRK:
0.03
PM:
2.81
MRK:
4.52
PM:
6.93
MRK:
$65.59B
PM:
$41.49B
MRK:
$49.79B
PM:
$27.93B
MRK:
$22.69B
PM:
$17.74B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MRK vs. PM — Risk / Return Rank
MRK
PM
MRK vs. PM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Merck & Co., Inc. (MRK) and Philip Morris International Inc. (PM). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MRK | PM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.05 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.49 | 0.18 | +4.31 |
| Martin ratioReturn relative to average drawdown | 11.22 | 0.34 | +10.88 |
Loading charts...
Drawdowns
MRK vs. PM - Drawdown Comparison
The maximum MRK drawdown since its inception was -68.61%, which is greater than PM's maximum drawdown of -42.87%. Use the drawdown chart below to compare losses from any high point for MRK and PM.
Loading charts...
Drawdown Indicators
| MRK | PM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.61% | -42.87% | -25.74% |
Max Drawdown (1Y)Largest decline over 1 year | -11.37% | -20.64% | +9.27% |
Max Drawdown (3Y)Largest decline over 3 years | -43.44% | -20.64% | -22.80% |
Max Drawdown (5Y)Largest decline over 5 years | -43.44% | -22.78% | -20.66% |
Max Drawdown (10Y)Largest decline over 10 years | -43.44% | -42.87% | -0.57% |
Current DrawdownCurrent decline from peak | -5.03% | -3.94% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -18.83% | -10.02% | -8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 10.81% | -6.27% |
Volatility
MRK vs. PM - Volatility Comparison
Merck & Co., Inc. (MRK) has a higher volatility of 9.57% compared to Philip Morris International Inc. (PM) at 7.76%. This indicates that MRK's price experiences larger fluctuations and is considered to be riskier than PM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MRK | PM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.57% | 7.76% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 18.04% | 21.07% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.18% | 27.73% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 22.73% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.96% | 24.46% | -1.50% |
Dividends
MRK vs. PM - Dividend Comparison
MRK's dividend yield for the trailing twelve months is around 2.79%, less than PM's 3.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRK Merck & Co., Inc. | 2.79% | 3.12% | 3.14% | 2.72% | 2.52% | 3.41% | 3.03% | 2.48% | 2.60% | 3.36% | 3.14% | 3.43% |
PM Philip Morris International Inc. | 3.13% | 3.52% | 4.40% | 5.46% | 4.98% | 5.16% | 5.73% | 5.43% | 6.73% | 3.99% | 4.50% | 4.60% |
Financials
MRK vs. PM - Financials Comparison
This section allows you to compare key financial metrics between Merck & Co., Inc. and Philip Morris International Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MRK vs. PM - Profitability Comparison
MRK - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a gross profit of 13.34B and revenue of 16.29B. Therefore, the gross margin over that period was 81.9%.
PM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a gross profit of 6.91B and revenue of 10.15B. Therefore, the gross margin over that period was 68.1%.
MRK - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported an operating income of -1.88B and revenue of 16.29B, resulting in an operating margin of -11.6%.
PM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported an operating income of 3.89B and revenue of 10.15B, resulting in an operating margin of 38.4%.
MRK - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Merck & Co., Inc. reported a net income of -4.24B and revenue of 16.29B, resulting in a net margin of -26.0%.
PM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Philip Morris International Inc. reported a net income of 2.44B and revenue of 10.15B, resulting in a net margin of 24.0%.
Frequently Asked Questions
MRK and PM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MRK has higher volatility (9.57%) compared to PM (7.76%). In terms of maximum drawdown, MRK dropped -68.61% vs PM's -42.87%.
MRK currently has the higher Sharpe Ratio (1.88 vs 0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for MRK and PM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer