MRK vs NVO: Which Is the Better Dividend Stock?
As of Nov 6, 2026, MRK and NVO are closely matched. NVO offers the higher yield at 4.46%, MRK has the higher dividend-safety score, and NVO looks like the better value (its fair-value estimate is 67% above its share price).
Key facts: MRK vs NVO
Data as of · Source: SmarterDividends data
- As of Nov 6, 2026, Novo Nordisk A/S (NVO) has the higher forward dividend yield at 4.46%, versus 2.31% for Merck & Co., Inc. (MRK).
- As of Nov 6, 2026, SmarterDividends grades MRK's dividend safety A (88/100) and NVO's B (71/100).
- By SmarterDividends' count as of Nov 6, 2026, MRK has raised its dividend for 15 consecutive years and NVO for 7.
- As of Nov 6, 2026, MRK pays out 343% of its earnings as dividends and NVO pays out 45%.
- As of Nov 6, 2026, MRK's fair-value estimate is 18% below its share price and NVO's fair-value estimate is 67% above its share price, so NVO looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "MRK vs NVO: Dividend Yield, Safety & Value Compared," updated Nov 6, 2026, https://smarterdividends.com/compare/mrk-vs-nvo
| Metric | MRK | NVO |
|---|---|---|
| Forward yield | 2.31% | 4.46% |
| Annual dividend | $3.40 | $1.80 |
| Payout ratio | 343% | 45% |
| Years of growth | 15 yr | 7 yr |
| 5-yr dividend growth | 6.7% | 20.9% |
| 5-yr total return | 100% | -25% |
| Dividend safety score | 88 (A) | 71 (B) |
| Fair value estimate | $119.89 | $67.11 |
| Upside to fair value | -18% | +67% |
| Frequency | quarterly | semiannual |
| Market cap | $362.5B | $177.7B |
| P/E ratio | 148.4 | 10.2 |
Higher yield
NVO
4.46%
Safer dividend
MRK
Grade A
Faster growth
NVO
20.9%
Better value
NVO
+67% upside
MRK vs NVO — FAQ
Is MRK or NVO a better dividend stock?
MRK and NVO are closely matched. NVO has the higher yield; MRK scores better on safety.
Which has a higher dividend yield, MRK or NVO?
NVO has the higher forward dividend yield at 4.46%, versus 2.31% for MRK.
Is MRK or NVO safer?
MRK has the higher dividend-safety score (88/100 vs 71/100), reflecting stronger payout coverage and dividend-growth history.
Is MRK or NVO better value right now?
As of Nov 6, 2026, NVO looks like the better value: its fair-value estimate is 67% 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.