ELV vs MRK: Which Is the Better Dividend Stock?
As of Nov 6, 2026, ELV (Elevance Health, Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. MRK offers the higher yield at 2.31%, ELV has the higher dividend-safety score, and ELV looks like the better value (its fair-value estimate is 27% above its share price).
Key facts: ELV vs MRK
Data as of · Source: SmarterDividends data
- As of Nov 6, 2026, Merck & Co., Inc. (MRK) has the higher forward dividend yield at 2.31%, versus 1.59% for Elevance Health, Inc. (ELV).
- As of Nov 6, 2026, SmarterDividends grades ELV's dividend safety A (90/100) and MRK's A (88/100).
- By SmarterDividends' count as of Nov 6, 2026, ELV has raised its dividend for 14 consecutive years and MRK for 15.
- As of Nov 6, 2026, ELV pays out 29% of its earnings as dividends and MRK pays out 343%.
- As of Nov 6, 2026, ELV's fair-value estimate is 27% above its share price and MRK's fair-value estimate is 18% below its share price, so ELV looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "ELV vs MRK: Dividend Yield, Safety & Value Compared," updated Nov 6, 2026, https://smarterdividends.com/compare/elv-vs-mrk
| Metric | ELV | MRK |
|---|---|---|
| Forward yield | 1.59% | 2.31% |
| Annual dividend | $6.88 | $3.40 |
| Payout ratio | 29% | 343% |
| Years of growth | 14 yr | 15 yr |
| 5-yr dividend growth | 12.5% | 6.7% |
| 5-yr total return | 3% | 100% |
| Dividend safety score | 90 (A) | 88 (A) |
| Fair value estimate | $549.72 | $119.89 |
| Upside to fair value | +27% | -18% |
| Frequency | quarterly | quarterly |
| Market cap | $93.7B | $362.5B |
| P/E ratio | 18.3 | 148.4 |
Higher yield
MRK
2.31%
Safer dividend
ELV
Grade A
Faster growth
ELV
12.5%
Better value
ELV
+27% upside
ELV vs MRK — FAQ
Is ELV or MRK a better dividend stock?
On the data, ELV wins more head-to-head categories (5 vs 3). MRK offers the higher yield (2.31%), while ELV has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, ELV or MRK?
MRK has the higher forward dividend yield at 2.31%, versus 1.59% for ELV.
Is ELV or MRK safer?
ELV has the higher dividend-safety score (90/100 vs 88/100), reflecting stronger payout coverage and dividend-growth history.
Is ELV or MRK better value right now?
As of Nov 6, 2026, ELV looks like the better value: its fair-value estimate is 27% above its share price (undervalued). For MRK, its fair-value estimate is 18% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.