Eli Lilly and Co
LLYHealthcare|Drug Manufacturers - General|USA
$927.06
-8.52 (-0.91%)
DCF (FCF)
$74.80
Tangible Book
$15.77
Graham Number
$92.73
Earnings Power
$55.36
Financials
Financial Snapshot
Market Cap
$828.20B
Enterprise Value
$-35.23B
Revenue (TTM)
$65.18B
Net Income (TTM)
$20.64B
Cash & Equivalents
$7.26B
Net Cash/Share
$-87.92
Free Cash Flow (TTM)
$5.96B
Operating CF (TTM)
$16.81B
Debt/Equity
1.6
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $6.04B | $8.03B | $7.41B | $2.44B | $3.68B | $3.91B | $2.21B | $2.93B | $3.27B | $7.27B | $7.27B | |
| Operating Cash Flow | $4.85B | $5.62B | $5.52B | $4.84B | $6.50B | $7.37B | $7.59B | $4.24B | $8.82B | $16.81B | $16.81B | |
| Free Cash Flow | $3.76B | $3.45B | $2.51B | $3.48B | $4.47B | $5.39B | $4.60B | $-3.15B | $414.0M | $5.96B | $5.96B | |
| Capital Expenditure | $-1.09B | $-2.16B | $-3.02B | $-1.35B | $-2.03B | $-1.98B | $-2.99B | $-7.39B | $-8.40B | $-10.85B | $-10.85B | |
| Financing Cash Flow | $-559.8M | $142.6M | $-5.90B | $-2.32B | $-3.14B | $-4.13B | $-5.41B | $3.50B | $1.23B | $-2.21B | $-2.21B |
R&D Spending
R&D (TTM)
$13.34B
R&D Intensity
20.5%
R&D Growth YoY
+0.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.22B | $19.97B | $21.49B | $22.32B | $24.54B | $28.32B | $28.54B | $34.12B | $45.04B | $65.18B | $65.18B | |
| R&D Expense | $5.31B | $5.10B | $5.05B | $5.59B | $5.98B | $6.93B | $7.19B | $9.31B | $10.99B | $13.34B | $13.34B | |
| R&D % of Revenue | 25.0% | 25.5% | 23.5% | 25.1% | 24.4% | 24.5% | 25.2% | 27.3% | 24.4% | 20.5% | 20.5% | |
| SG&A | $6.53B | $6.43B | $5.98B | $6.21B | $6.12B | $6.43B | $6.44B | $7.40B | $8.59B | $11.09B | $11.09B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.22B | $19.97B | $21.49B | $22.32B | $24.54B | $28.32B | $28.54B | $34.12B | $45.04B | $65.18B | $65.18B | |
| Cost of Goods Sold | $5.71B | $4.45B | $4.68B | $4.72B | $5.48B | $7.31B | $6.63B | $7.08B | $8.42B | $11.05B | $11.05B | |
| Gross Profit | $15.51B | $15.53B | $16.81B | $17.60B | $19.06B | $21.01B | $21.91B | $27.04B | $36.63B | $54.13B | $54.13B | |
| R&D | $5.31B | $5.10B | $5.05B | $5.59B | $5.98B | $6.93B | $7.19B | $9.31B | $10.99B | $13.34B | $13.34B | |
| SG&A | $6.53B | $6.43B | $5.98B | $6.21B | $6.12B | $6.43B | $6.44B | $7.40B | $8.59B | $11.09B | $11.09B | |
| Operating Income | $3.67B | $4.00B | $5.79B | $5.79B | $6.96B | $7.64B | $8.28B | $10.32B | $17.04B | $29.70B | $29.70B | |
| Interest Expense | $-185.2M | $-225.0M | $-242.5M | $-400.6M | $-359.6M | $-339.8M | $-331.6M | $-485.9M | $-780.6M | $-642.0M | $-795.3M | |
| Pretax Income | $3.37B | $2.30B | $3.68B | $5.27B | $7.23B | $6.16B | $6.81B | $6.55B | $12.68B | $25.73B | $25.73B | |
| Net Income | $2.74B | $-204.1M | $3.23B | $8.32B | $6.19B | $5.58B | $6.24B | $5.24B | $10.59B | $20.64B | $20.64B | |
| EPS (Diluted) | 2.58 | -0.19 | 3.13 | 8.89 | 6.79 | 6.12 | 6.90 | 5.80 | 11.71 | 22.95 | 22.95 | |
| EBITDA | $5.06B | $4.10B | $5.53B | $6.90B | $8.91B | $8.04B | $8.66B | $11.85B | $18.81B | $31.69B | $31.69B | |
| Shares Out. (M) | 1061.83 | 1052.02 | 1033.67 | 935.68 | 912.50 | 911.68 | 904.62 | 903.30 | 904.10 | 899.30 | 898.10 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.58B | $6.54B | $7.32B | $2.34B | $3.66B | $3.82B | $2.07B | $2.82B | $3.27B | $7.27B | $7.27B | |
| Marketable Securities | $1.46B | $1.50B | $88.2M | $101.0M | $24.2M | $90.1M | $144.8M | $109.1M | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $15.10B | $19.20B | $20.55B | $13.71B | $17.46B | $18.45B | $18.03B | $25.73B | $32.74B | $55.63B | $55.63B | |
| Total Assets | $38.81B | $44.98B | $43.91B | $39.29B | $46.63B | $48.81B | $49.49B | $64.01B | $78.72B | $112.48B | $112.48B | |
| Total Current Liabilities | $10.99B | $14.54B | $11.89B | $11.78B | $12.48B | $15.05B | $17.14B | $27.29B | $28.38B | $35.23B | $35.23B | |
| Long-Term Debt | $8.37B | $9.94B | $9.20B | $13.82B | $16.59B | $15.35B | $14.74B | $18.32B | $28.53B | $40.87B | $40.87B | |
| Total Liabilities | $24.73B | $33.31B | $33.00B | $36.59B | $40.81B | $39.65B | $38.71B | $53.14B | $64.44B | $85.94B | $85.94B | |
| Stockholders' Equity | $14.01B | $11.59B | $9.83B | $2.61B | $5.64B | $8.98B | $10.65B | $10.77B | $14.27B | $26.54B | $26.54B | |
| Retained Earnings | $16.05B | $13.89B | $11.40B | $4.92B | $7.83B | $8.96B | $10.04B | $10.31B | $13.54B | $24.47B | $24.47B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.85B | $5.62B | $5.52B | $4.84B | $6.50B | $7.37B | $7.59B | $4.24B | $8.82B | $16.81B | $16.81B | |
| Capital Expenditure | $-1.09B | $-2.16B | $-3.02B | $-1.35B | $-2.03B | $-1.98B | $-2.99B | $-7.39B | $-8.40B | $-10.85B | $-10.85B | |
| Free Cash Flow | $3.76B | $3.45B | $2.51B | $3.48B | $4.47B | $5.39B | $4.60B | $-3.15B | $414.0M | $5.96B | $5.96B | |
| Investing Cash Flow | $-3.14B | $-3.78B | $1.91B | $-8.08B | $-2.26B | $-2.87B | $-3.76B | $-7.15B | $-9.30B | $-10.97B | $-10.97B | |
| Financing Cash Flow | $-559.8M | $142.6M | $-5.90B | $-2.32B | $-3.14B | $-4.13B | $-5.41B | $3.50B | $1.23B | $-2.21B | $-2.21B | |
| Issuance of Stock | $0.00 | $0.00 | $1.66B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $-600.1M | $-299.8M | $-4.15B | $-4.40B | $-500.0M | $-1.25B | $-1.50B | $-750.0M | $-2.50B | $-4.11B | $-4.11B | |
| Issuance of Debt | $2.50B | $3.63B | $2.48B | $7.55B | $2.06B | $2.41B | $1.50B | $8.65B | $11.42B | $13.17B | $13.99B | |
| Payments of Debt | $-200.0K | $-630.6M | $-3.21B | $-2.87B | $-1.77B | $-1.91B | $-1.56B | $0.00 | $-2.52B | $-5.12B | $-5.94B | |
| Stock Based Comp. | $255.3M | $281.3M | $279.5M | $312.4M | $308.1M | $342.8M | $371.1M | $629.0M | $646.0M | $626.0M | $626.0M | |
| Net Change in Cash | $915.7M | $1.95B | $1.46B | $-5.66B | $1.32B | $161.4M | $-1.75B | $752.0M | $449.0M | $4.00B | $4.00B |
Dilution Tracker
Shares Outstanding
898M
5-Year Share Growth
-1.5%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 1061.83 | 1052.02 | 1033.67 | 935.68 | 912.50 | 911.68 | 904.62 | 903.30 | 904.10 | 899.30 | 898.10 | |
| YoY Change % | — | -0.9% | -1.7% | -9.5% | -2.5% | -0.1% | -0.8% | -0.1% | 0.1% | -0.5% | -0.1% | |
| Stock Issuance | $0.00 | $0.00 | $1.66B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $-600.1M | $-299.8M | $-4.15B | $-4.40B | $-500.0M | $-1.25B | $-1.50B | $-750.0M | $-2.50B | $-4.11B | $-4.11B | |
| Stock Based Comp. | $255.3M | $281.3M | $279.5M | $312.4M | $308.1M | $342.8M | $371.1M | $629.0M | $646.0M | $626.0M | $626.0M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 73.1% | 77.7% | 78.2% | 78.8% | 77.7% | 74.2% | 76.8% | 79.2% | 81.3% | 83.0% | 83.0% | |
| Operating Margin % | 17.3% | 20.0% | 26.9% | 25.9% | 28.4% | 27.0% | 29.0% | 30.3% | 37.8% | 45.6% | 45.6% | |
| Net Margin % | 12.9% | -1.0% | 15.0% | 37.3% | 25.2% | 19.7% | 21.9% | 15.4% | 23.5% | 31.7% | 31.7% | |
| EBITDA Margin % | 23.8% | 20.5% | 25.7% | 30.9% | 36.3% | 28.4% | 30.3% | 34.7% | 41.8% | 48.6% | 48.6% | |
| FCF Margin % | 17.7% | 17.3% | 11.7% | 15.6% | 18.2% | 19.0% | 16.1% | -9.2% | 0.9% | 9.2% | 9.2% | |
| ROE % | 19.2% | -1.6% | 30.2% | 133.8% | 150.2% | 76.4% | 63.6% | 48.9% | 84.6% | 101.2% | 104.6% | |
| ROA % | 7.4% | -0.5% | 7.3% | 20.0% | 14.4% | 11.7% | 12.7% | 9.2% | 14.8% | 21.6% | 20.8% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)40.39
Historical13.22 / 41.25 / 263.64
Industry Med.20.96
P/S12.81
Historical3.45 / 7.20 / 22.74
Industry Med.2.30
P/B31.26
Historical4.79 / 33.20 / 65.30
Industry Med.2.03
EV/EBITDA27.24
Historical16.08 / 25.91 / 69.97
Industry Med.12.96
EV/Revenue13.25
Historical3.69 / 7.72 / 23.43
Industry Med.2.47
P/FCF139.67
Historical18.75 / 41.88 / 2005.73
Industry Med.23.50
Intrinsic Value Models
DCF (FCF Based)
$74.80
Tangible Book
$15.77
Graham Number
$92.73
Peter Lynch Value
$605.68
Median P/S Value
$503.94
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 28.51 | At Loss | 36.97 | 14.78 | 24.87 | 45.13 | 53.02 | 100.50 | 65.93 | 46.83 | 40.39 | |
| PS Ratio | 3.68 | 4.45 | 5.57 | 5.51 | 6.28 | 8.89 | 11.60 | 15.43 | 15.50 | 14.83 | 12.81 | |
| PB Ratio | 5.78 | 8.01 | 12.45 | 48.27 | 28.63 | 29.34 | 32.64 | 48.67 | 48.55 | 36.24 | 31.26 | |
| EV/EBITDA | 16.87 | 24.06 | 22.83 | 20.12 | 19.59 | 34.39 | 41.77 | 46.12 | 38.46 | 31.45 | 27.24 | |
| EV/Revenue | 4.02 | 4.94 | 5.88 | 6.22 | 7.12 | 9.77 | 12.68 | 16.02 | 16.06 | 15.29 | 13.25 |
Analyst Estimates & Quality
Altman Z-Score
7.72
Safe
Piotroski F-Score
7
Strong
Beneish M-Score
-1.74
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $81,948M | $94,902M | $107,413M |
| Net Income | $31,025M | $37,677M | $44,102M |
| EPS | 34.15 | 41.44 | 48.27 |
| Book Value per Share | 55.54 | 86.03 | 125.55 |
| Operating Cash Flow per Share | 37.07 | 43.91 | 51.07 |
| Operating CF | $33,287.90M | $39,434.67M | $45,862.64M |
Dividends
Dividend/Share (TTM)
$6.00
Dividend Yield
0.67%
Yield 10Y Median
1.53%
Frequency
Quarterly
Recent Payments
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-02-13 | 2026-03-10 | $1.73 | Cash Div. |
| 2025-11-14 | 2025-12-10 | $1.5 | Cash Div. |
| 2025-08-15 | 2025-09-10 | $1.5 | Cash Div. |
| 2025-05-16 | 2025-06-10 | $1.5 | Cash Div. |
| 2025-02-14 | 2025-03-10 | $1.5 | Cash Div. |
| 2024-11-15 | 2024-12-10 | $1.3 | Cash Div. |
| 2024-08-15 | 2024-09-10 | $1.3 | Cash Div. |
| 2024-05-15 | 2024-06-10 | $1.3 | Cash Div. |
| 2024-02-14 | 2024-03-08 | $1.3 | Cash Div. |
| 2023-11-14 | 2023-12-08 | $1.13 | Cash Div. |
| 2023-08-14 | 2023-09-08 | $1.13 | Cash Div. |
| 2023-05-12 | 2023-06-09 | $1.13 | Cash Div. |
| 2023-02-14 | 2023-03-10 | $1.13 | Cash Div. |
| 2022-11-14 | 2022-12-09 | $0.98 | Cash Div. |
| 2022-08-12 | 2022-09-09 | $0.98 | Cash Div. |
| 2022-05-13 | 2022-06-10 | $0.98 | Cash Div. |
| 2022-02-14 | 2022-03-10 | $0.98 | Cash Div. |
| 2021-11-12 | 2021-12-10 | $0.85 | Cash Div. |
| 2021-08-12 | 2021-09-10 | $0.85 | Cash Div. |
| 2021-05-13 | 2021-06-10 | $0.85 | Cash Div. |
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Discovery, development, manufacturing, marketing, and sales of pharmaceutical products worldwide | $65.18B |
By Geography
| Segment | 2025 |
|---|---|
| U.S. | $43.48B |
| China | $1.95B |
| Europe | $11.56B |
| Japan | $2.13B |
| Rest of World | $6.06B |