BFLY vs MRK vs PAHC Stock Comparison

Butterfly Network, Merck and Phibro Animal Health Prices as of Oct 27, 2026 Peers: Industry group
BFLY Butterfly Network, Inc.
$7.40 -21.2% 1M +236.4% 1Y
Market cap
$1.76B
P/E
–
Revenue (TTM)
$112.15M
Div. yield
–
Diagnostic Equipment Healthcare
2 wins
MRK Merck & Co., Inc.
$141.84 -4.7% 1M +61.2% 1Y
Market cap
$349.94B
P/E
110.4x
Revenue (TTM)
$66.57B
Div. yield
2.40%
Pharmaceuticals Healthcare
3 wins

Head to Head

12 decided of 12

Phibro Animal Health leads on 7 of the 12 questions below (Phibro Animal Health 7, Merck 3, Butterfly Network 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBFLYMRKPAHCLeader
Larger companyMarket capitalisation $1.76B $349.94B $1.56B MRK
Cheaper on earningsLower P/E, profitable companies only -25.9x 110.4x 15.6x PAHC
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 57.2x 11.2x PAHC
Faster revenue growthRevenue growth, trailing twelve months +28.1% +4.6% +17.1% BFLY
More profitableNet margin, trailing twelve months -66.7% 4.8% 6.6% PAHC
Better return on capitalReturn on invested capital — 3.6% 14.2% PAHC
Less leveragedLower net debt / EBITDA — 3.6x 2.1x PAHC
Higher dividend yieldTrailing dividend yield — 2.40% 1.25% MRK
Better 1-year returnPrice return, last 12 months +236.4% +61.2% -8.0% BFLY
Better 5-year returnAnnualised price return, 5 years -6.3%/yr +10.4%/yr +11.6%/yr PAHC
Less volatileAnnualised volatility, 1 year 114.8% 29.6% 55.5% MRK
Higher overall scoreMean of the five percentile scores vs peers 45/100 62/100 68/100 PAHC

Percentile Scorecard

BFLYMRKPAHC

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

AxisBFLYMRKPAHC
Valuation 28 #164 of 227 80 #124 of 625 92 #54 of 625
Growth 68 #71 of 219 36 #384 of 602 85 #90 of 602
Profitability 32 #140 of 206 91 #53 of 551 86 #81 of 551
Financial Health 61 #94 of 238 20 #526 of 656 26 #485 of 656
Shareholder Returns 37 #85 of 134 82 #68 of 365 54 #170 of 365
Overall 45 62 68
  • BFLY ranked among 247 companies in Medical Devices and Diagnostics
  • MRK ranked among 672 companies in Pharmaceuticals and Biotechnology
  • PAHC 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

PeriodBFLYMRKPAHCSPY
1 month -21.2%-4.7%+11.4% -0.2%
3 months +3.1%+7.6%+5.5% +3.9%
6 months +43.4%+28.9%-29.3% +8.2%
Year to date +94.7%+34.8%+2.7% +12.9%
1 year +236.4%+61.2%-8.0% +12.3%
3 years +836.7%+37.9%+256.4% +87.4%
3 years, per year +110.9%+11.3%+52.8% +23.3%
5 years -27.6%+63.9%+73.0% +67.9%
5 years, per year -6.3%+10.4%+11.6% +10.9%
10 years —+131.4%+49.0% +261.1%
10 years, per year —+8.8%+4.1% +13.7%

Risk

MeasureBFLYMRKPAHCSPY
Volatility, 1Y 114.8%29.6%55.5% 12.7%
Downside volatility, 1Y 91.7%24.6%59.8% 12.7%
Beta vs S&P 500, 1Y 3.000.120.75 1.00
Return / volatility, 1Y 2.062.07-0.14 0.97
Max drawdown, 5Y -93.4%-44.7%-57.9% -25.4%
From 52-week high -25.6%-9.3%-35.6% -1.2%
52-week high $9.94$156.45$59.58 $779.14
52-week low $1.97$82.49$28.52 $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.

MultipleBFLYMRKPAHC
P/E now vs peer median -25.9xmedian 29.6x 110.4xmedian 17.2x 15.6xmedian 17.2x
P/S now vs peer median 15.7xmedian 2.9x 5.3xmedian 9.0x 1.0xmedian 9.0x
EV/EBITDA now vs peer median -22.6xmedian 17.4x 30.3xmedian 16.3x 8.2xmedian 16.3x
P/FCF now vs peer median -62.8xmedian 22.3x 21.8xmedian 18.7x 157.7xmedian 18.7x
P/B now vs peer median 9.3xmedian 2.3x 8.3xmedian 2.2x 4.0xmedian 2.2x
PEG now vs peer median -0.96median 1.04 69.50median 0.33 0.35median 0.33

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 monthsBFLYMRKPAHC
Revenue $112.15M $66.57B $1.52B
Gross profit $59.04M $48.57B $512.52M
Operating income -$79.38M $6.38B $194.40M
Net income -$74.85M $3.17B $99.72M
Free cash flow -$28.04M $16.06B $9.87M
R&D $38.10M $30.45B –
EPS (diluted) $-0.29 $1.28 $2.43
Cash & equivalents $124.66M $6.85B $61.42M
Total debt – $53.91B $2.49B
Shares (diluted) 262.10M 2.47B 40.96M
Enterprise value $1.20B $304.37B $1.24B

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
MetricBFLYMRKPAHC
P/E -25.9x 110.4x 15.6x
P/FCF -62.8x 21.8x 157.7x
P/Operating cash flow -73.3x 17.5x 22.6x
P/S 15.7x 5.3x 1.0x
P/B 9.3x 8.3x 4.0x
P/Tangible book 9.6x 20.6x 4.4x
EV/EBITDA -22.6x 30.3x 8.2x
EV/EBIT -20.6x 62.2x 10.8x
EV/Revenue 14.6x 6.0x 1.4x
EV/FCF -58.4x 24.7x 211.9x
EV/Operating cash flow -68.1x 19.9x 30.3x
PEG (3Y EPS CAGR) -0.96 69.50 0.35

Growth

14 metrics
MetricBFLYMRKPAHC
Revenue growth (1Y) 28.1% 4.6% 17.1%
Revenue CAGR (3Y) 15.6% 4.5% 15.8%
Gross profit growth (1Y) 8.8% -0.3% 28.1%
Gross profit CAGR (3Y) 13.3% 4.5% 19.8%
Operating income growth (1Y) -14.8% -66.6% 76.0%
Operating income CAGR (3Y) 21.1% 1.9% 39.3%
Net income growth (1Y) -19.1% -80.7% 106.6%
Net income CAGR (3Y) 20.8% 0.5% 45.2%
EPS growth (1Y) -12.9% -80.3% 105.2%
EPS CAGR (3Y) 27.0% 1.6% 44.6%
Operating cash flow growth (1Y) 19.6% 7.7% -13.9%
Operating cash flow CAGR (3Y) 44.5% 9.8% 73.0%
Free cash flow growth (1Y) 12.2% 9.1% -76.4%
Free cash flow CAGR (3Y) 42.8% 14.0% 31.2%

Profitability

14 metrics
MetricBFLYMRKPAHC
Gross margin 52.6% 73.0% 33.8%
EBITDA margin -64.4% 19.7% 16.8%
Operating margin -70.8% 9.6% 12.8%
Pretax margin -66.7% 8.9% 9.0%
Net margin -66.7% 4.8% 6.6%
FCF margin -25.0% 24.1% 0.6%
Operating cash flow margin -21.4% 30.0% 4.5%
Return on equity -39.3% 7.2% 26.7%
Return on assets -26.3% 2.5% 6.8%
Return on invested capital – 3.6% 14.2%
Return on capital employed -35.1% 6.3% 16.8%
Asset turnover 0.4x 0.5x 1.0x
Cash conversion (OCF / net income) 0.3x 6.3x 0.7x
Stock comp / revenue 21.3% 1.3% 0.1%

Financial Health

11 metrics
MetricBFLYMRKPAHC
Debt / assets – 41.5% 41.1%
Debt / equity – 1.3x 1.6x
Net debt / EBITDA – 3.6x 2.1x
Debt / FCF – 3.4x 62.5x
Liabilities / assets 33.1% 67.7% 74.3%
Equity / assets 66.9% 32.3% 25.7%
Interest coverage -59.4x – 4.2x
Current ratio 4.1x 1.3x 3.0x
Quick ratio 2.7x 0.7x 1.1x
Cash ratio 2.1x 0.3x 0.3x
Altman Z-score 7.05 3.83 3.10

Shareholder Returns

7 metrics
MetricBFLYMRKPAHC
Dividend yield – 2.4% 1.3%
Net buyback yield -0.4% 1.1% –
Shareholder yield -0.4% 3.5% 1.3%
Payout ratio (earnings) – 261.8% 19.5%
Payout ratio (FCF) – 51.7% 197.3%
Dividend growth (1Y) – 3.3% 0.1%
Dividend CAGR (3Y) – 4.7% 0.0%

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.

ConsensusBFLYMRKPAHC
Forward P/E – 57.2xFY2026 11.2xFY2027
EPS, next fiscal year $-0.10FY2026 $2.48FY2026 $3.42FY2027
EPS growth, next FY – -72.4%FY2026 +6.2%FY2027
EPS growth, the year after – +257.3% +9.6%
Revenue, next fiscal year $114.50MFY2026 $69.45BFY2026 $1.53BFY2027
Revenue growth, next FY +17.3%FY2026 +6.8%FY2026 +0.6%FY2027
Revenue growth, the year after +26.0% -3.8% -0.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBFLYMRKPAHC
Held by institutions 59.9% 79.9% 51.5%
Institutions holding 245 3,796 208
Change in shares held, QoQ +13.9% +2.6% +3.1%
Institutions buying 143 1,842 117
Institutions selling 59 1,464 73
Buyers to sellers 2.42 1.26 1.60

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.

BFLYMRKPAHC
BFLY 1.00 0.01 0.12
MRK 0.01 1.00 0.21
PAHC 0.12 0.21 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BFLY, MRK and PAHC?

Merck (MRK) is the largest by market capitalisation: Butterfly Network (BFLY) $1.76B, Merck (MRK) $349.94B, Phibro Animal Health (PAHC) $1.56B.

Which stock is cheaper, BFLY, MRK and PAHC?

Phibro Animal Health (PAHC) trades on the lowest price-to-earnings ratio (Butterfly Network (BFLY) -25.9x, Merck (MRK) 110.4x, Phibro Animal Health (PAHC) 15.6x). On next year's consensus earnings, Phibro Animal Health (PAHC) is cheapest (Merck (MRK) 57.2x, Phibro Animal Health (PAHC) 11.2x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Butterfly Network (BFLY) grew revenue fastest over the trailing twelve months: Butterfly Network (BFLY) +28.1%, Merck (MRK) +4.6%, Phibro Animal Health (PAHC) +17.1%.

Which company is more profitable?

Phibro Animal Health (PAHC) has the highest net margin (Butterfly Network (BFLY) -66.7%, Merck (MRK) 4.8%, Phibro Animal Health (PAHC) 6.6%). On return on invested capital, Phibro Animal Health (PAHC) leads (Merck (MRK) 3.6%, Phibro Animal Health (PAHC) 14.2%).

Which stock has performed better?

Over the past year Butterfly Network (BFLY) returned the most: Butterfly Network (BFLY) +236.4%, Merck (MRK) +61.2%, Phibro Animal Health (PAHC) -8.0%. Over five years, Phibro Animal Health (PAHC) compounded fastest (Butterfly Network (BFLY) -6.3%/yr, Merck (MRK) +10.4%/yr, Phibro Animal Health (PAHC) +11.6%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Merck (MRK) has the highest dividend yield: Merck (MRK) 2.40%, Phibro Animal Health (PAHC) 1.25%. Butterfly Network (BFLY) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Merck (MRK) has been the steadiest (Butterfly Network (BFLY) 114.8%, Merck (MRK) 29.6%, Phibro Animal Health (PAHC) 55.5%). Volatility measures how widely the price swings, not the risk of the business.

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

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Phibro Animal Health (PAHC) leads on 7. 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.