Which has the lower trailing P/E, ELV or MRK?

ELV has the lower trailing P/E: ELV trades at 18.61 and MRK at 115.15. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, ELV or MRK?

Over the past five years, ELV grew revenue faster — ELV at a 9.25% CAGR versus MRK at 7.87%.

Does ELV or MRK pay a bigger dividend?

ELV yields 1.65% and MRK yields 2.32% based on trailing dividends and the latest price.

Is ELV or MRK more profitable?

MRK runs the higher net margin — ELV at 2.47% versus MRK at 4.78%.

How have ELV and MRK total returns compared?

Over the past 10 years, ELV delivered 14.18% and MRK delivered 12.68% annualized total return. Past performance doesn't predict future results.

Elevance Health Inc. (ELV) vs Merck & Co., Inc. (MRK)

A side-by-side comparison of Elevance Health Inc. and Merck & Co., Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 11, 2026. Differences are shown without an overall score or investment verdict.

ELV

Elevance Health Inc.

$90.81B

$418.72HealthcareDelayed quote: Sep 11, 2026, 4:00 PM EDT

MRK

Merck & Co., Inc.

$355.49B

$143.94HealthcareDelayed quote: Sep 11, 2026, 4:00 PM EDT

Total return — ELV vs MRK

growth of $100 · dividends reinvested · last 10y

ELV +284.4% (+14.4%/yr)MRK +226.1% (+12.5%/yr)ELV compounded faster over this window

ELV MRK

ELV vs MRK: by the numbers

•MRK is the larger company ($355.49B vs $90.81B market cap).
•ELV trades at the lower trailing earnings multiple (18.61 vs 115.15 P/E), one valuation lens rather than an overall verdict.
•MRK converts more revenue to profit (4.78% vs 2.47% net margin).
•ELV grew revenue faster over the past five years (9.25% vs 7.87% CAGR).
•MRK pays the higher dividend yield (2.32% vs 1.65%).

Metrics side by side

Valuation

Metric	ELV	MRK
P/E ratio	18.61	115.15
Forward P/E	15.42	52.41
P/S ratio	0.45	5.35
P/B ratio	2.02	8.48
EV / EBITDA	13.82	22.76
FCF yield	6.93%	4.52%

Profitability

Metric	ELV	MRK
Gross margin	25.56%	75.38%
Operating margin	3.51%	36.17%
Net margin	2.47%	4.78%
ROE	11.06%	7.57%
ROIC	6.34%	5.80%

Dividends

Metric	ELV	MRK
Dividend yield	1.65%	2.32%
Payout ratio	30.49%	268.80%

Growth (annualized)

Metric	ELV	MRK
Revenue CAGR (5Y)	9.25%	7.87%
EPS CAGR (5Y)	6.67%	21.21%
FCF CAGR (5Y)	-19.97%	23.61%
Total return CAGR (5Y)	4.62%	18.15%

Frequently asked

Which has the lower trailing P/E, ELV or MRK?: ELV has the lower trailing P/E: ELV trades at 18.61 and MRK at 115.15. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, ELV or MRK?: Over the past five years, ELV grew revenue faster — ELV at a 9.25% CAGR versus MRK at 7.87%.
Does ELV or MRK pay a bigger dividend?: ELV yields 1.65% and MRK yields 2.32% based on trailing dividends and the latest price.
Is ELV or MRK more profitable?: MRK runs the higher net margin — ELV at 2.47% versus MRK at 4.78%.
How have ELV and MRK total returns compared?: Over the past 10 years, ELV delivered 14.18% and MRK delivered 12.68% annualized total return. Past performance doesn't predict future results.

Go deeper

Full ELV analysis Full MRK analysis Interactive comparison tool

Dig into the metrics

Elevance Health P/E ratio Merck P/E ratio Elevance Health dividend yield Merck dividend yield Elevance Health ROE Merck ROE Elevance Health operating margin Merck operating margin Elevance Health revenue growth Merck revenue growth Elevance Health free cash flow Merck free cash flow

Elevance Health & Merck appear in these rankings

Highest Dividend Yield Stocks Highest Operating Margin Stocks Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 11, 2026.