Merck KGaA

MRK: XETR (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Merck KGaA Earnings: Overall Strong Performance and Guidance Confirmed; Shares Undervalued

Max Jousma

Nov 13, 2025

Merck KGaA reported third-quarter earnings with 5.2% organic sales growth, and the adjusted EBITDA margin increased by 70 basis points to 31.4%. Management confirmed its full-year outlook, while narrowing the ranges to approximately 3% organic sales growth and 5%-7% adjusted EBITDA growth.

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Merck KGaA

Merck KGaA Earnings: Overall Strong Performance and Guidance Confirmed; Shares Undervalued

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