MRK vs NVO: Which Is the Better Dividend Stock?
As of July 2026, MRK and NVO are closely matched. NVO offers the higher yield at 3.74%, MRK has the higher dividend-safety score, and NVO trades at the larger discount to fair value (+47%).
| Metric | MRK | NVO |
|---|---|---|
| Forward yield | 2.61% | 3.74% |
| Annual dividend | $3.40 | $1.80 |
| Payout ratio | 94% | 43% |
| Years of growth | 15 yr | 7 yr |
| 5-yr dividend growth | 6.7% | 20.9% |
| 5-yr total return | 72% | -2% |
| Dividend safety score | 90 (A) | 67 (B) |
| Fair value estimate | $128.13 | $71.51 |
| Upside to fair value | -2% | +47% |
| Frequency | quarterly | semiannual |
| Market cap | $323.7B | $215.7B |
| P/E ratio | 36.9 | 11.7 |
Higher yield
NVO
3.74%
Safer dividend
MRK
Grade A
Faster growth
NVO
20.9%
Better value
NVO
+47% upside
MRK vs NVO — FAQ
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