MRK vs ZTS: Which Is the Better Dividend Stock?
As of September 2026, MRK and ZTS are closely matched. ZTS offers the higher yield at 2.97%, MRK has the higher dividend-safety score, and ZTS trades at the larger discount to fair value (+37%).
| Metric | MRK | ZTS |
|---|---|---|
| Forward yield | 2.31% | 2.97% |
| Annual dividend | $3.40 | $2.12 |
| Payout ratio | 269% | 34% |
| Years of growth | 15 yr | 12 yr |
| 5-yr dividend growth | 6.7% | 20.1% |
| 5-yr total return | 67% | -67% |
| Dividend safety score | 88 (A) | 79 (B) |
| Fair value estimate | $135.77 | $97.81 |
| Upside to fair value | -8% | +37% |
| Frequency | quarterly | quarterly |
| Market cap | $362.4B | $29.5B |
| P/E ratio | 117.5 | 11.6 |
Higher yield
ZTS
2.97%
Safer dividend
MRK
Grade A
Faster growth
ZTS
20.1%
Better value
ZTS
+37% upside
MRK vs ZTS — FAQ
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