BFLY vs ICCC vs MRK Stock Comparison

Butterfly Network, Immucell and Merck Prices as of Oct 28, 2026 Peers: Industry group
BFLY Butterfly Network, Inc.
$7.82 -14.5% 1M +253.8% 1Y
Market cap
$1.94B
P/E
–
Revenue (TTM)
$112.15M
Div. yield
–
Diagnostic Equipment Healthcare
2 wins
ICCC Immucell Corp /De/
$10.62 +7.5% 1M +72.4% 1Y
Market cap
$95.57M
P/E
–
Revenue (TTM)
$26.76M
Div. yield
–
Animal Health Healthcare
3 wins
MRK Merck & Co., Inc.
$141.04 -5.2% 1M +62.1% 1Y
Market cap
$362.25B
P/E
114.2x
Revenue (TTM)
$66.57B
Div. yield
0.02%
Pharmaceuticals Healthcare
4 wins

Head to Head

9 decided of 12

Merck leads on 4 of the 12 questions below (Merck 4, Immucell 3, Butterfly Network 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBFLYICCCMRKLeader
Larger companyMarket capitalisation $1.94B $95.57M $362.25B MRK
Cheaper on earningsLower P/E, profitable companies only -26.0x -146.5x 114.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — — 56.9x –
Faster revenue growthRevenue growth, trailing twelve months +28.1% -5.3% +4.6% BFLY
More profitableNet margin, trailing twelve months -66.7% -2.4% 4.8% MRK
Better return on capitalReturn on invested capital — 6.5% 3.6% ICCC
Less leveragedLower net debt / EBITDA — -0.1x 3.6x ICCC
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.02% –
Better 1-year returnPrice return, last 12 months +253.8% +72.4% +62.1% BFLY
Better 5-year returnAnnualised price return, 5 years -5.4%/yr +3.8%/yr +9.9%/yr MRK
Less volatileAnnualised volatility, 1 year 115.0% 50.5% 29.6% MRK
Higher overall scoreMean of the five percentile scores vs peers 45/100 73/100 62/100 ICCC

Percentile Scorecard

BFLYICCCMRK

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBFLYICCCMRK
Valuation 29 #161 of 227 86 #86 of 625 81 #120 of 625
Growth 67 #72 of 219 65 #209 of 602 36 #383 of 602
Profitability 33 #138 of 205 83 #92 of 549 91 #53 of 549
Financial Health 61 #92 of 237 58 #277 of 654 20 #523 of 654
Shareholder Returns 37 #86 of 135 – 81 #69 of 367
Overall 45 73 62
  • BFLY ranked among 247 companies in Medical Devices and Diagnostics
  • ICCC ranked among 672 companies in Pharmaceuticals and Biotechnology
  • MRK ranked among 672 companies in Pharmaceuticals and Biotechnology

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBFLYICCCMRKSPY
1 month -14.5%+7.5%-5.2% +0.9%
3 months +10.3%-3.5%+8.2% +5.9%
6 months +58.9%+25.8%+27.1% +8.5%
Year to date +105.8%+72.7%+34.0% +13.3%
1 year +253.8%+72.4%+62.1% +12.4%
3 years +889.9%+123.1%+37.2% +88.1%
3 years, per year +114.8%+30.7%+11.1% +23.5%
5 years -24.2%+20.7%+60.2% +68.2%
5 years, per year -5.4%+3.8%+9.9% +11.0%
10 years —+88.6%+139.7% +263.4%
10 years, per year —+6.6%+9.1% +13.8%

Risk

MeasureBFLYICCCMRKSPY
Volatility, 1Y 115.0%50.5%29.6% 12.7%
Downside volatility, 1Y 91.7%47.5%24.5% 12.7%
Beta vs S&P 500, 1Y 3.010.400.12 1.00
Return / volatility, 1Y 2.211.432.10 0.98
Max drawdown, 5Y -93.4%-67.0%-44.7% -25.4%
From 52-week high -21.3%-9.4%-9.8% -0.9%
52-week high $9.94$11.72$156.45 $779.14
52-week low $1.97$4.56$82.49 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBFLYICCCMRK
P/E now vs peer median -27.4xmedian 28.8x -147.6xmedian 17.4x 109.8xmedian 17.4x
P/S now vs peer median 16.6xmedian 3.0x 3.6xmedian 9.1x 5.2xmedian 9.1x
EV/EBITDA now vs peer median -24.0xmedian 17.4x 18.8xmedian 17.1x 30.1xmedian 17.1x
P/FCF now vs peer median -66.4xmedian 25.7x —median 19.0x 21.7xmedian 19.0x
P/B now vs peer median 9.8xmedian 2.4x 3.1xmedian 2.2x 8.3xmedian 2.2x
PEG now vs peer median -1.01median 1.03 -2.69median 0.34 69.11median 0.34

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBFLYICCCMRK
Revenue $112.15M $26.76M $66.57B
Gross profit $59.04M $10.53M $48.57B
Operating income -$79.38M $2.47M $6.38B
Net income -$74.85M -$652.35K $3.17B
Free cash flow -$28.04M – $16.06B
R&D $38.10M $2.40M $30.45B
EPS (diluted) $-0.29 $-0.07 $1.28
Cash & equivalents $124.66M $8.86M $6.85B
Total debt – $8.30M $53.91B
Shares (diluted) 262.10M 9.19M 2.47B
Enterprise value $1.39B $73.02M $316.63B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBFLYICCCMRK
P/E -27.4x -147.6x 109.8x
P/FCF -66.4x – 21.7x
P/Operating cash flow -77.5x – 17.4x
P/S 16.6x 3.6x 5.2x
P/B 9.8x 3.1x 8.3x
P/Tangible book 10.2x 3.1x 20.5x
EV/EBITDA -24.0x 18.8x 30.1x
EV/EBIT -21.9x 38.9x 61.9x
EV/Revenue 15.5x 3.6x 5.9x
EV/FCF -61.9x – 24.6x
EV/Operating cash flow -72.3x – 19.8x
PEG (3Y EPS CAGR) -1.01 -2.69 69.11

Growth

14 metrics
MetricBFLYICCCMRK
Revenue growth (1Y) 28.1% -5.3% 4.6%
Revenue CAGR (3Y) 15.6% 19.5% 4.5%
Gross profit growth (1Y) 8.8% -0.6% -0.3%
Gross profit CAGR (3Y) 13.3% 36.0% 4.5%
Operating income growth (1Y) -14.8% 42.3% -66.6%
Operating income CAGR (3Y) 21.1% 34.3% 1.9%
Net income growth (1Y) -19.1% -137.0% -80.7%
Net income CAGR (3Y) 20.8% 52.3% 0.5%
EPS growth (1Y) -12.9% -136.4% -80.3%
EPS CAGR (3Y) 27.0% 55.0% 1.6%
Operating cash flow growth (1Y) 19.6% – 7.7%
Operating cash flow CAGR (3Y) 44.5% – 9.8%
Free cash flow growth (1Y) 12.2% – 9.1%
Free cash flow CAGR (3Y) 42.8% – 14.0%

Profitability

14 metrics
MetricBFLYICCCMRK
Gross margin 52.6% 39.3% 73.0%
EBITDA margin -64.4% 19.0% 19.7%
Operating margin -70.8% 9.2% 9.6%
Pretax margin -66.7% -2.2% 8.9%
Net margin -66.7% -2.4% 4.8%
FCF margin -25.0% – 24.1%
Operating cash flow margin -21.4% – 30.0%
Return on equity -39.3% -2.2% 7.2%
Return on assets -26.3% -1.5% 2.5%
Return on invested capital – 6.5% 3.6%
Return on capital employed -35.1% 6.1% 6.3%
Asset turnover 0.4x 0.6x 0.5x
Cash conversion (OCF / net income) 0.3x – 6.3x
Stock comp / revenue 21.3% 1.8% 1.3%

Financial Health

11 metrics
MetricBFLYICCCMRK
Debt / assets – 17.8% 41.5%
Debt / equity – 0.3x 1.3x
Net debt / EBITDA – -0.1x 3.6x
Debt / FCF – – 3.4x
Liabilities / assets 33.1% 32.7% 67.7%
Equity / assets 66.9% 67.3% 32.3%
Interest coverage -59.4x 5.3x –
Current ratio 4.1x 4.8x 1.3x
Quick ratio 2.7x 2.7x 0.7x
Cash ratio 2.1x 2.0x 0.3x
Altman Z-score 7.69 4.63 3.82

Shareholder Returns

7 metrics
MetricBFLYICCCMRK
Dividend yield – – 2.4%
Net buyback yield -0.4% – 1.1%
Shareholder yield -0.4% – 3.5%
Payout ratio (earnings) – – 261.8%
Payout ratio (FCF) – – 51.7%
Dividend growth (1Y) – – 3.3%
Dividend CAGR (3Y) – – 4.7%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBFLYICCCMRK
Forward P/E – – 56.9xFY2026
EPS, next fiscal year $-0.10FY2026 – $2.48FY2026
EPS growth, next FY – – -72.4%FY2026
EPS growth, the year after – – +257.3%
Revenue, next fiscal year $114.50MFY2026 – $69.45BFY2026
Revenue growth, next FY +17.3%FY2026 – +6.8%FY2026
Revenue growth, the year after +26.0% – -3.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBFLYICCCMRK
Held by institutions 59.9% 15.0% 79.9%
Institutions holding 245 32 3,797
Change in shares held, QoQ +13.9% -2.6% +2.6%
Institutions buying 143 15 1,843
Institutions selling 59 7 1,464
Buyers to sellers 2.42 2.14 1.26

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BFLYICCCMRK
BFLY 1.00 0.04 0.01
ICCC 0.04 1.00 0.02
MRK 0.01 0.02 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BFLY, ICCC and MRK?

Merck (MRK) is the largest by market capitalisation: Butterfly Network (BFLY) $1.94B, Immucell (ICCC) $95.57M, Merck (MRK) $362.25B.

Which company is growing faster?

Butterfly Network (BFLY) grew revenue fastest over the trailing twelve months: Butterfly Network (BFLY) +28.1%, Immucell (ICCC) -5.3%, Merck (MRK) +4.6%.

Which company is more profitable?

Merck (MRK) has the highest net margin (Butterfly Network (BFLY) -66.7%, Immucell (ICCC) -2.4%, Merck (MRK) 4.8%). On return on invested capital, Immucell (ICCC) leads (Immucell (ICCC) 6.5%, Merck (MRK) 3.6%).

Which stock has performed better?

Over the past year Butterfly Network (BFLY) returned the most: Butterfly Network (BFLY) +253.8%, Immucell (ICCC) +72.4%, Merck (MRK) +62.1%. Over five years, Merck (MRK) compounded fastest (Butterfly Network (BFLY) -5.4%/yr, Immucell (ICCC) +3.8%/yr, Merck (MRK) +9.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Butterfly Network (BFLY) 0.00%, Immucell (ICCC) 0.00%, Merck (MRK) 0.02%. Butterfly Network (BFLY) and Immucell (ICCC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Merck (MRK) has been the steadiest (Butterfly Network (BFLY) 115.0%, Immucell (ICCC) 50.5%, Merck (MRK) 29.6%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BFLY, ICCC and MRK?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Merck (MRK) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.