MRK vs NVO: Which Is the Better Dividend Stock?
As of September 2026, MRK and NVO are closely matched. NVO offers the higher yield at 4.15%, MRK has the higher dividend-safety score, and NVO trades at the larger discount to fair value (+72%).
| Metric | MRK | NVO |
|---|---|---|
| Forward yield | 2.31% | 4.15% |
| Annual dividend | $3.40 | $1.80 |
| Payout ratio | 269% | 44% |
| Years of growth | 15 yr | 7 yr |
| 5-yr dividend growth | 6.7% | 20.9% |
| 5-yr total return | 67% | -21% |
| Dividend safety score | 88 (A) | 71 (B) |
| Fair value estimate | $135.77 | $74.35 |
| Upside to fair value | -8% | +72% |
| Frequency | quarterly | semiannual |
| Market cap | $362.4B | $191.0B |
| P/E ratio | 117.5 | 10.7 |
Higher yield
NVO
4.15%
Safer dividend
MRK
Grade A
Faster growth
NVO
20.9%
Better value
NVO
+72% upside
MRK vs NVO — FAQ
Related comparisons
See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.