MRK vs PFE: Which Is the Better Dividend Stock?
As of Oct 30, 2026, MRK (Merck & Co., Inc.) screens as the stronger dividend stock, winning 5 of 8 head-to-head metrics. PFE offers the higher yield at 5.84%, MRK has the higher dividend-safety score, and MRK looks like the better value (its fair-value estimate is 16% below its share price).
Key facts: MRK vs PFE
Data as of · Source: SmarterDividends data
- As of Oct 30, 2026, Pfizer Inc. (PFE) has the higher forward dividend yield at 5.84%, versus 2.41% for Merck & Co., Inc. (MRK).
- As of Oct 30, 2026, SmarterDividends grades MRK's dividend safety A (88/100) and PFE's B (78/100).
- By SmarterDividends' count as of Oct 30, 2026, MRK has raised its dividend for 15 consecutive years and PFE for 16.
- As of Oct 30, 2026, MRK pays out 267% of its earnings as dividends and PFE pays out 226%.
- As of Oct 30, 2026, MRK's fair-value estimate is 16% below its share price and PFE's fair-value estimate is 37% below its share price, so MRK looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "MRK vs PFE: Dividend Yield, Safety & Value Compared," updated Oct 30, 2026, https://smarterdividends.com/compare/mrk-vs-pfe
| Metric | MRK | PFE |
|---|---|---|
| Forward yield | 2.41% | 5.84% |
| Annual dividend | $3.40 | $1.72 |
| Payout ratio | 267% | 226% |
| Years of growth | 15 yr | 16 yr |
| 5-yr dividend growth | 6.7% | 3.6% |
| 5-yr total return | 94% | -44% |
| Dividend safety score | 88 (A) | 78 (B) |
| Fair value estimate | $122.43 | $19.01 |
| Upside to fair value | -16% | -37% |
| Frequency | quarterly | quarterly |
| Market cap | $361.0B | $170.7B |
| P/E ratio | 116.1 | 39.4 |
Higher yield
PFE
5.84%
Safer dividend
MRK
Grade A
Faster growth
MRK
6.7%
Better value
MRK
-16% upside
MRK vs PFE — FAQ
Is MRK or PFE a better dividend stock?
On the data, MRK wins more head-to-head categories (5 vs 3). PFE offers the higher yield (5.84%), while MRK has the stronger dividend-safety score. The right pick depends on whether you prioritise income, safety or value.
Which has a higher dividend yield, MRK or PFE?
PFE has the higher forward dividend yield at 5.84%, versus 2.41% for MRK.
Is MRK or PFE safer?
MRK has the higher dividend-safety score (88/100 vs 78/100), reflecting stronger payout coverage and dividend-growth history.
Is MRK or PFE better value right now?
As of Oct 30, 2026, MRK looks like the better value: its fair-value estimate is 16% below its share price (overvalued). For PFE, its fair-value estimate is 37% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.