CVS vs MRK: Which Is the Better Dividend Stock?
As of September 2026, CVS and MRK are closely matched. CVS offers the higher yield at 3.04%, CVS has the higher dividend-safety score, and CVS trades at the larger discount to fair value (+57%).
| Metric | CVS | MRK |
|---|---|---|
| Forward yield | 3.04% | 2.27% |
| Annual dividend | $2.66 | $3.40 |
| Payout ratio | 70% | 269% |
| Years of growth | 0 yr | 15 yr |
| 5-yr dividend growth | 5.9% | 6.7% |
| 5-yr total return | -0% | 67% |
| Dividend safety score | 91 (A) | 88 (A) |
| Fair value estimate | $139.35 | $135.77 |
| Upside to fair value | +57% | -8% |
| Frequency | quarterly | quarterly |
| Market cap | $111.4B | $372.3B |
| P/E ratio | 23.0 | 120.7 |
Higher yield
CVS
3.04%
Safer dividend
CVS
Grade A
Faster growth
MRK
6.7%
Better value
CVS
+57% upside
CVS vs MRK — FAQ
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