Not as well as a sharpie, but yes. I still think it's handy to have, though, because the bullet style is very pocket-friendly, and it can write on almost any surface, unlike a pencil, and at any angle, unlike most ballpoint pens.

In my Young Marines first aid course, they said the most likely need to write something was time of tourniquet application, in which case there would likely be blood aplenty for noting that crudely. What other situations warrant a marker? Don't get me wrong, sharpie trumps gore as an ink.