総合バリュエーションレンジ · 保守的 €90–€95 / 妥当 €119–€161 / 楽観的 €180–€195。€141.75 時点で 妥当な本源的価値レンジ内。
レポート公開時 €133.05（2026年6月19日）
データ提供：EODHD、報告通貨で表示。参考情報であり、投資助言ではありません。
Merck KGaA operates as a science and technology company in Europe, North America, Latin America, Middle East and Africa, and the Asia Pacific. The Life Science segment offers products, solutions, and services to academic, research and diagnostic labs, biotech, and pharmaceutical companies, as well as the industrial sector; reagents, consumables, devices, instruments, software, and services for research, production, and testing to lab water instruments, microbiology and biomonitoring products, test assays, analytical reagents, and flow cytometry kits and instruments. This segment also provides traditional and novel therapies, such as ration devices, chromatography resins, single-use systems, process chemicals, and excipients for bioprocessing; contract development, manufacturing and testing services, which supports customers from preclinical phases to commercialization. The Healthcare segment discovers, develops, manufactures, and markets prescription drugs and biopharmaceuticals to the therapeutic areas of oncology, rare diseases, neurology and immunology, fertility, cardiovascular, and metabolic and endocrinological disorders. The Electronics segment offers advanced dielectric and metallic materials; photoresist, anti-reflective coating, and material lithography products; clean and selective etch chemistries; materials for chemical-mechanical planarization; high-purity gases for semiconductor manufacturing; and develops and installs delivery equipment for handling of specialty chemicals and gases for semiconductor manufacturing; develops modulating, creating, engineering, and guiding light; and material solutions in liquid crystals, OLED materials, and photoresists. It has in-licensing agreement with Abbisko Therapeutics Co. Ltd., China on drug candidates for the treatment of tenosynovial giant cell tumor; and strategic partnership with Versant Ventures to advance treatments for rare genetic cardiomyopathies. The company was founded in 1668 and is headquartered in Darmstadt, Germany. Merck KGaA is a subsidiary o
沿革
Merck KGaA traces its roots to 1668, when Friedrich Jacob Merck acquired the Engel-Apotheke in Darmstadt, described as the historic core of the world's oldest pharmaceutical and chemical company. The modern listed company dates from 1995: it was recorded as a KGaA in July 1995 and first listed on October 20, 1995, with 39,999,999 shares issued at DM 54.00 (€27.61) on Frankfurt/Xetra, and entered the DAX in 2007. Recent corporate moves include the SpringWorks acquisition (equity value about $3.9 billion, enterprise value $3.4 billion), signed in April 2025 and closed on July 1, 2025; the acquisition of JSR Life Sciences' chromatography business, announced in October 2025 and closed on March 31, 2026 and folded into Process Solutions; the sale of Surface Solutions in 2025; and the September 2025 appointment of Kai Beckmann to succeed Belén Garijo as CEO from May 1, 2026.
業界での地位
Merck KGaA is a diversified science and technology group spanning three segments — Healthcare (prescription drugs and biopharmaceuticals), Life Science (lab and bioprocessing tools, consumables, process materials and services) and Electronics (semiconductor and display materials) — with €21.1 billion of 2025 net sales, about 59,077 employees and a market capitalization of roughly €58.1 billion. In Life Science it competes against Danaher, Thermo Fisher and Sartorius, with its 2025 Life Science EBITDA pre of €3.08 billion at a 35.8% margin; in Electronics it competes with Entegris, DuPont's electronics businesses, Tokyo Ohka, Shin-Etsu and JSR; and in Healthcare, UCB is a comparison point. In the United States and Canada the group operates under the EMD Serono, MilliporeSigma and EMD Electronics names, reflecting a trademark separation from the unrelated U.S. Merck & Co.