Verdict: Side-by-side breakdown using the Bull Rankings model. MRK scored 33.5, PAHC scored 70.7 — PAHC leads.
Compare another set
MRK
Merck & Co., Inc.
Drug Manufacturers - General · Quality-Growth
33.5
$145.60 · $359.2B
fundamentals as of
Score gap
37.2
PAHC leads
PAHC
Phibro Animal Health Corporation
Drug Manufacturers - Specialty & Generic · Quality-Growth
70.7
$38.30 · $1.6B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
CheapestPAHC15.8x
Fastest growthPAHC+17.1%
Strongest balance sheetMRK1.28
Highest qualityMRK62 / 100
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
MRK
stronger →← stronger
PAHC
62
Qualityreturns · margins · balance sheet
61
35
Growthrevenue & earnings expansion
81
17
Valuevaluation vs sector peers
72
PAHC is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
MRK
PAHC
$16.1bA-
FCF
$10mC-
+1.3%C
Rev
+17.1%B+
1.28C
D/E
2.06D
115.6xD
P/E
15.8xA-
2.60C
PEG
1.68C+
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
MRK
PAHC
57% above
Price vs fair valuelower is cheaper
773% above
~14%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
>60%/yr
-35%
1-yr DCF upside
-90%
-36%
5-yr DCF upside
-89%
-39%
10-yr DCF upside
-86%
These two disagree on this pair: the Value pillar ranks cheapness against sector peers, while price-vs-fair-value is an absolute read. A name can be the better value in its sector and still the dearer one on cash flows.
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
MRK
Why this score
Durable high returns
PAHC
No notable signals flagged.
The companies
MRKMerck & Co., Inc.
Drug Manufacturers - General · $145.60 · beta 0.22
Why now
Drug Manufacturers - General · market cap $359.2b. 7% off the 52-week high of $156.92. 25 sell-side analysts rate this a Buy with a mean 1-yr target of $158.28 (implying +9% upside).
Moat
Free cash flow runs well ahead of reported net income, mostly because of depreciation and amortization ($6.7b) — non-cash charges that hold down reported earnings while cash generation stays strong. $359.2b market cap places it among the largest companies in the sector — distribution, R&D, and customer-acquisition costs amortize across a base peers can't replicate. Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
Trailing P/E 115.6x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Net margin 4.8% is thin — operating leverage cuts both ways; input-cost inflation or pricing pressure hits the bottom line first. ROE 7% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate.
Drug Manufacturers - Specialty & Generic · market cap $1.6b. Down 36% from 52-week high of $60.08 — deep drawdown territory. Revenue growing +17%, comfortably above the S&P median. 4 sell-side analysts rate this a Hold with a mean 1-yr target of $44.00 (implying +15% upside).
Moat
ROE 26% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
D/E 2.06 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Down 36% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Trial-readout binary — late-stage clinical trials carry approve/reject outcomes that swing valuation 30%+; the equity is effectively a portfolio of these binary events, not a steady cash-flow business.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where MRK and PAHC diverge
On the headline score the gap is 37.2 points in favor of PAHC. The widest single difference is Value, where PAHC leads by 54.3 points.
ValueMRK 17.4 · PAHC 71.7PAHC +54.3
GrowthMRK 34.8 · PAHC 80.6PAHC +45.8
QualityMRK 62.0 · PAHC 61.2level
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is PAHC or MRK the better stock?
PAHC scores higher: PAHC 70.7, MRK 33.5 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do PAHC and MRK differ most?
The widest gap is value, where PAHC leads by 54 points on the 0–100 pillar scale. PAHC also leads growth, while quality is effectively level between them.
How are PAHC and MRK scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.