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LLY

NYSE · USD
Eli Lilly and Company
Healthcare · Drug Manufacturers - General
CEO David A. Ricks Employees 50,000 R&D / revenue 20.5%
Last price
$1,257.03+0.43%last session
Market cap
$1.18T
P/E (TTM)
42.1x
From 52w high
−2.8%
From 52w low
+60.4%
1-year return
+53.6%
RSI 14 · vs SMA200
68.6 · +16.4%
IS score
77.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

LLY   SPY   XLV (sector ETF) · weekly closes
100120140160Jan 26Apr 26Jul 26Oct 26LLY 154XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
100
Profitability
88
Growth
37
Value
94
Momentum
100
Risk (safety)
84
Quality
54
Balance sheet
67
Earnings quality

Flags

Strengths
✓ Piotroski 8+✓ Congress buying
Warnings
None of the computed warning flags fires for LLY (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Wide, Efficient ScalePiotroski 9 / 9Altman Z 7.8Beta 0.503 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
6 open-market sales, $34.6M
Form 144 notices (12m): 20, $5.0B proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+262
417 new holders, 102 closed
4,653 filers hold 88.9% · 2,220 added, 1,489 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+347
2,145 funds adding shares
1,798 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
40.5%
20-day avg 47.9%, 50-day avg 44.9%
Latest 7.4 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$65.2B
Revenue growth YoY+44.7%
Gross margin83.8%
Operating income$29.7B
Operating margin45.6%
Net income$20.6B
Net margin31.7%
EPS (diluted)$22.95
Cash flow
Operating cash flow$16.8B
Capital expenditure$7.8B
Free cash flow$9.0B
FCF conversion (FCF / OCF)53.4%
Stock-based compensation$626.0M
FCF less SBC$8.3B
Buybacks$4.1B
Dividends$5.4B
Balance sheet & returns
Cash & short-term investments$7.3B
Total debt$42.5B
Net debt$35.2B
Shareholders' equity$26.5B
Goodwill & intangibles$12.4B
Debt / equity1.62
ROE (TTM)92.6%
ROIC (TTM)31.0%
Operating margin by fiscal year
27.8%FY202130.3%FY202231.6%FY202338.9%FY202445.6%FY2025
Revenue $28.3B (FY2021) to $65.2B (FY2025), a 23.2% CAGR.

Valuation

P/E (TTM)42.1x
EV / EBITDA28.4x
Price / sales14.85x
Price / FCF59.0x
FCF yield1.69%
Buyback yield0.35%
SBC / revenue0.8%
Price / book33.11x
Forward P/E FY202635.9x
Forward P/E FY202726.5x
Forward P/E FY202823.2x
Forward multiples divide today's price by Street EPS estimates. Street mean target $1,342.90 across 10 analysts last quarter is theirs, not ours.

LLY vs industry median

40 companies in Drug Manufacturers - General
Gross margin 83.4% 72.4% Operating margin 49.7% 20.1% Net margin 33.5% 12.7% ROIC 31.0% 16.2%
LLY (TTM)Industry median Asset turnover 0.56 vs industry 0.54 · financial leverage 4.20

Earnings delivery

Next report 2026-10-29 · consensus EPS $5.65
92%
beat rate, 11 of 12 quarters
+12.4%
median EPS surprise
7
longest beat streak
+225+12+5+51-20+6+2+13+23+9+23+31
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-08-05. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
LLY Eli Lilly and Company $1.18T42.1x92.6%33.5%+44.7% +53.6%
JNJ Johnson & Johnson $615.9B38.7x25.7%21.9%+8.1% +33.9%
ABBV AbbVie Inc. $504.4B80.4x-206.4%21.3%+10.4% +25.8%
MRK Merck & Co., Inc. $360.1B115.8x7.0%-8.0%+4.5% +75.4%
NVS Novartis AG $286.3B22.9x30.6%22.7%+0.8% +15.1%
AZN AstraZeneca PLC $256.5B24.7x22.0%16.3%+8.6% —
AMGN Amgen Inc. $233.8B26.7x91.5%23.6%+9.2% —
GILD Gilead Sciences, Inc. $193.7Bn/m-20.6%—+5.5% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-08-05Earnings Release; Exhibits
2026-05-20Other Events; Exhibits
2026-05-07Shareholder Vote
2026-04-30Earnings Release; Exhibits
2026-02-04Results of Operations and Financial Condition; Financial Statements and Exhibits
2025-11-21Departure/Election of Directors; Appointment of Officers

Context

Shares outstanding941,357,048
Free float90.1%
Institutional ownership88.9%
Beta0.50
Dividend yield0.53%
Last dividend$1.73 on 2026-08-14
50 / 200-day average$1,179.04 / $1,079.02
Mega-cap Healthcare median P/E20.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Wide).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where LLY sits among 12 scored companies in Drug Manufacturers - General (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureLLYIndustry medianIndustry percentileSector median
P/E (TTM) 44.3x 29.3x
80th		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 0.70 1.23
20th		 1.28
Price / sales 14.9x 5.3x
100th		 3.7x
Price / book 34.9x 6.9x
100th		 3.6x
Price / tangible book 154.9x — 5.8x
Price / free cash flow 59.0x 20.3x
100th		 21.2x
Price / operating cash flow 42.1x 16.8x
100th		 17.1x
Enterprise value $1.23T $280.5B
100th		 $2.5B
EV / sales 15.4x 6.0x
100th		 3.8x
EV / EBITDA 31.1x 18.0x
91st		 16.2x
EV / EBIT 32.4x 24.8x
70th		 23.0x
EV / free cash flow 61.3x 23.7x
100th		 24.6x
Earnings yield 2.3% 3.0%
27th		 -0.3%
FCF yield 1.7% 5.0%
0th		 1.7%
Operating cash flow yield 2.4% 6.0%
0th		 2.9%
Graham number (per share) $159.66 $63.36
100th		 $26.70

Profitability (TTM)

MeasureLLYIndustry medianIndustry percentileSector median
Gross margin 83.4% 72.1%
100th		 65.1%
EBITDA margin 49.6% 32.8%
100th		 6.6%
Operating margin 49.5% 25.2%
100th		 3.5%
EBIT margin 47.6% 22.0%
100th		 2.4%
Net margin 33.5% 13.4%
100th		 0.3%
NOPAT margin 39.3% 20.5%
100th		 2.7%
FCF margin 25.2% 24.7%
55th		 4.3%
Operating cash flow margin 35.3% 29.5%
91st		 7.1%
R&D / revenue 18.3% 20.0%
27th		 12.4%
SG&A / revenue 15.6% 22.0%
9th		 37.9%
Stock comp / revenue 0.8% 1.1%
18th		 4.5%
Effective tax rate 20.5% 19.2%
55th		 21.0%

Returns on capital

MeasureLLYIndustry medianIndustry percentileSector median
ROE (on average equity) 102.4% 24.0%
100th		 0.8%
ROA 22.0% 6.9%
100th		 -0.3%
ROIC 39.2% 15.9%
100th		 5.5%
ROCE 40.1% 15.6%
100th		 2.3%
Return on tangible assets 31.2% 11.2%
100th		 1.7%
Cash ROIC (OCF / invested capital) 35.2% 22.4%
91st		 9.7%
Gross profitability (GP / assets) 47.0% 34.0%
91st		 29.9%
ROIC, 3-yr average 29.7% 10.3%
100th		 2.6%
ROIC, 5-yr average 34.4% 14.2%
100th		 3.2%
ROE, 5-yr average 66.8% 19.6%
89th		 -4.9%
Incremental ROIC 66.5% 4.4%
73rd		 17.2%

Growth

MeasureLLYIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 49.6% 5.0%
100th		 10.5%
Revenue growth (QoQ) 16.0% 8.6%
91st		 7.2%
Revenue CAGR, 3 yr 39.2% 4.4%
100th		 10.7%
Revenue CAGR, 5 yr 24.4% 3.3%
91st		 12.1%
Gross profit CAGR, 3 yr 42.9% 5.9%
100th		 10.6%
Operating income CAGR, 3 yr 68.1% 10.0%
100th		 11.7%
Net income growth (TTM YoY) 93.5% -6.6%
100th		 17.5%
Net income CAGR, 3 yr 60.2% 3.1%
100th		 11.3%
EPS growth (TTM YoY) 94.9% -4.3%
90th		 19.2%
EPS CAGR, 3 yr 63.4% 2.7%
100th		 14.0%
EPS CAGR, 5 yr 35.0% 2.2%
89th		 8.1%
FCF growth (TTM YoY) —
FCF CAGR, 3 yr 84.1% 11.3%
100th		 15.4%
Operating cash flow CAGR, 3 yr 65.8% 6.8%
100th		 11.9%
Book value CAGR, 3 yr 48.2% 5.2%
100th		 2.1%
Dividend CAGR, 3 yr 6.9% 1.8%
80th		 2.2%
Sustainable growth rate 80.2% 11.0%
100th		 12.2%

Margin history & stability

MeasureLLYIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 82.5% 70.1%
100th		 62.6%
Operating margin, 3-yr average 42.7% 23.5%
100th		 1.0%
Net margin, 3-yr average 26.1% 13.4%
82nd		 -2.6%
FCF margin, 3-yr average 5.3% 22.0%
0th		 3.2%
Revenue stability (0-1) 0.79 0.75
55th		 0.80
Earnings stability (0-1) 0.69 0.23
100th		 0.37
Margin stability (0-1) 0.95 0.94
64th		 0.93

Liquidity (latest quarter)

MeasureLLYIndustry medianIndustry percentileSector median
Cash & short-term investments $8.9B $7.4B
64th		 $330.9M
Net cash (− = net debt) −$46.0B −$36.7B
27th		 $8.4M
Working capital $16.9B $4.1B
100th		 $381.1M
Current ratio 1.35 1.29
64th		 3.02
Quick ratio 1.00 1.05
45th		 2.51
Cash ratio (cash + ST investments / current liabilities) 0.19 0.31
18th		 1.43
Defensive interval (days) 430 days 287 days
82nd		 415 days

Leverage & solvency (latest quarter)

MeasureLLYIndustry medianIndustry percentileSector median
Total debt $54.9B $49.0B
73rd		 $289.1M
Debt / equity 1.62 1.29
60th		 0.45
Net debt / equity 1.36 1.12
60th		 −0.13
Debt / assets 38.6% 40.8%
36th		 24.4%
Debt / capital 61.8% 56.2%
60th		 31.1%
Debt / EBITDA 1.39 3.30
0th		 2.62
Net debt / EBITDA 1.16 2.75
9th		 1.42
Interest coverage (EBIT / interest) 38.7x 5.3x
100th		 2.1x
Cash interest coverage 28.7x 9.8x
91st		 3.6x
Debt payback (years of OCF) 2.0 yrs 2.8 yrs
9th		 2.7 yrs
Liabilities / assets 76.2% 71.1%
64th		 49.8%
IS credit model rating AA — —
Implied credit spread (bps) 80 250
0th		 225

Efficiency

MeasureLLYIndustry medianIndustry percentileSector median
Asset turnover 0.66 0.49
100th		 0.56
Fixed asset turnover 2.72 4.31
9th		 4.87
Inventory turnover 0.9 2.1
0th		 2.7
Receivables turnover 4.7 4.9
27th		 6.4
Days sales outstanding 78 days 74 days
73rd		 57 days
Days inventory outstanding 398 days 172 days
100th		 136 days
Days payables outstanding 146 days 116 days
73rd		 59 days
Cash conversion cycle (days) 331 days 126 days
100th		 70 days
Capex / revenue 10.1% 4.6%
100th		 2.6%
Capex / depreciation 4.82 0.49
100th		 0.55
Operating expense ratio 31.6% 40.9%
0th		 56.5%

Cash flow & earnings quality

MeasureLLYIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.05 1.44
0th		 1.61
FCF / net income 0.75 1.24
0th		 1.36
FCF / operating cash flow 71.4% 81.5%
20th		 81.2%
Capex / operating cash flow 28.6% 18.5%
80th		 18.8%
Accruals ratio -1.1% -4.3%
100th		 -5.4%
Sloan accruals ratio 3.6% -2.6%
100th		 -1.3%
Earnings quality score (0-1) 1.00 1.00
30th		 0.75

Dividends & buybacks

MeasureLLYIndustry medianIndustry percentileSector median
Dividend yield 0.5% 2.2%
9th		 0.0%
Dividend per share (TTM) $6.69 $3.33
82nd		 $0.00
Payout ratio (dividends / net income) 21.7% 60.0%
20th		 0.0%
Dividends / FCF 28.8% 50.8%
18th		 0.0%
Dividend growth (YoY) 15.7% 5.0%
80th		 4.5%
Buyback yield 0.5% 0.1%
73rd		 0.0%
Shareholder yield (dividends + buybacks) 1.0% 2.5%
18th		 0.0%
Share count change (YoY) -0.7% -0.1%
36th		 2.0%
Buybacks, last 5 years $24.6B $3.6B
91st		 $0

Scores & forensic checks

MeasureLLYIndustry medianIndustry percentileSector median
IS score 78 64
100th		 46
IS profitability 100 67
100th		 22
IS growth 88 40
100th		 60
IS value 37 42
27th		 39
IS momentum 94 67
100th		 67
IS risk (safety) 100 72
91st		 80
IS quality 84 72
82nd		 49
IS balance sheet 54 49
82nd		 55
IS earnings quality 67 68
36th		 56
IS cash flow 62 66
27th		 41
Piotroski F-score (0-9) 9 7
91st		 5
Altman Z-score 7.8 3.0
100th		 3.2
Beneish M-score −2.01 −2.72
100th		 −2.62
Ohlson O-score −8.38 −8.11
36th		 −7.16
IS credit score 86 60
91st		 62

Per share

MeasureLLYIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $29.89 $5.07
100th		 −$0.03
Book value per share $37.91 $19.22
91st		 $7.10
Tangible book per share $7.75 −$8.38
100th		 $1.91
Revenue per share $89.14 $32.71
100th		 $9.38
FCF per share $22.44 $7.97
100th		 $0.46
Operating cash flow per share $31.42 $9.66
100th		 $0.93
Cash per share $10.01 $4.10
91st		 $3.51

Size (TTM)

MeasureLLYIndustry medianIndustry percentileSector median
Market cap $1.18T $245.2B
100th		 $2.4B
Revenue $79.7B $58.5B
91st		 $770.2M
EBITDA $39.5B $16.9B
100th		 $56.1M
Net income $26.7B $7.5B
100th		 −$3.3M
Free cash flow $20.1B $12.3B
100th		 $41.2M
Total assets $142.3B $118.9B
82nd		 $1.3B
Shareholders' equity $33.9B $28.1B
55th		 $568.4M
Employees 50,000 53,500
45th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-21Luciano Juan R
Director
 Award / grant 14$1,164.89$15,91716,957
2026-09-21Fyrwald J Erik
Director
 Award / grant 9$1,164.89$9,91775,536
2026-09-21Alvarez Ralph
Director
 Award / grant 11$1,164.89$12,41755,838
2026-09-21Sulzberger Gabrielle
Director
 Award / grant 4$1,164.89$4,9583,012
2026-09-09Seymour Melissa
EVP, Global Quality
 Gift 12——1,038
2026-09-02Hernandez Edgardo
EVP & Pres., Mfg. Operations
 Gift 13——46,083
2026-09-02Dozier Eric
EVP, Chief People Officer
 Gift 216——14,239
2026-08-17Sulzberger Gabrielle
Director
 Award / grant 4$1,183.16$4,9583,004
2026-08-17Luciano Juan R
Director
 Award / grant 13$1,183.16$15,91716,918
2026-08-17Fyrwald J Erik
Director
 Award / grant 8$1,183.16$9,91775,418
2026-08-17Alvarez Ralph
Director
 Award / grant 10$1,183.16$12,41755,745
2026-08-17Jonsson Patrik
EVP & President, LLY Int'l
 Open-market sale 6,500$1,175.10$7.6M54,147

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired24240$259,250
GiftDisposed3241—
Open-market saleDisposed631,828$34.6M
Option exerciseAcquired1981—
Option exerciseDisposed1981—
Tax withholdingDisposed1439$504,004
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 20 notices · 4,791,000 shares · $5.0B
FiledFilerShares proposedEst. proceeds
2026-10-15Lilly Endowment, Inc.305,000$368.7M
2026-10-07Lilly Endowment, Inc.300,000$347.2M
2026-08-17Patrik Jonsson6,500$7.6M
2026-08-10Donald Zakrowski2,000$2.4M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 49 trades (22 purchases) · Senate 22 (12 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-07-10Dan NewhouseHouseSale$1,001 - $15,0002026-07-20
2026-07-10Daniel Milton NewhouseHouseSale (Partial)$1,001 - $15,0002026-07-20
2026-07-09Daniel Milton NewhouseHouseSale (Partial)$1,001 - $15,0002026-07-20
2026-03-27Alan ArmstrongSenateSale (Full)$1,001 - $15,0002026-07-20
2026-02-13Angus KingSenateSale$1,001 - $15,0002026-03-24
2026-02-13Angus Stanley KingSenateSale$1,001 - $15,0002026-03-24
2026-02-13Angus KingSenateSale (Full)$1,001 - $15,0002026-03-23
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
LILLY ENDOWMENT INC90,376,978$108.4B9.60%
BlackRock, Inc.67,540,400$81.0B7.17%
VANGUARD CAPITAL MANAGEMENT LLC53,528,868$64.2B5.69%
PNC FINANCIAL SERVICES GROUP, INC.50,023,043$60.0B5.31%
STATE STREET CORP36,215,754$43.4B3.85%
FMR LLC28,462,475$34.1B3.02%
Capital Research Global Investors20,873,140$25.0B2.22%
VANGUARD PORTFOLIO MANAGEMENT LLC20,859,217$25.0B2.22%
GEODE CAPITAL MANAGEMENT, LLC20,310,858$24.3B2.16%
Capital World Investors15,902,642$19.1B1.69%
PRICE T ROWE ASSOCIATES INC /MD/13,911,839$16.7B1.48%
JPMORGAN CHASE & CO11,830,084$14.6B1.26%
NORGES BANK11,471,413$13.8B1.22%
BANK OF AMERICA CORP /DE/11,274,243$13.5B1.20%
WELLINGTON MANAGEMENT GROUP LLP10,998,953$13.2B1.17%

Institutional ownership by quarter

2023-092026-0688.9%
% of shares held by 13F filers
2023-092026-064,653
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-304,65388.9%4172,2201,489102
2026-03-314,39187.0%2421,9521,703228
2025-12-314,45588.5%7371,7041,61298
2025-09-303,90685.8%2161,7961,462162
2025-06-303,92087.8%2201,7791,454169
2025-03-313,93293.8%2531,8021,414165
2024-12-313,91487.6%5101,5341,475197
2024-09-303,66988.5%2481,5691,392112
2024-06-303,57487.6%2771,5331,330119
2024-03-313,47187.7%3531,4201,290115
2023-12-313,28287.9%4431,2211,23893
2023-09-302,98288.0%2791,0881,19079

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-23SCHEDULE 13G/ALILLY ENDOWMENT, INC.9.6%90,376,978
2026-05-01SCHEDULE 13GVanguard Capital Management6.5%61,295,605
2026-04-20SCHEDULE 13G/ALILLY ENDOWMENT, INC.9.7%91,896,978
2026-01-23SCHEDULE 13G/ALILLY ENDOWMENT, INC.9.8%92,190,516
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX1.34%$31.1B
VTSAX1.34%$31.1B
VTI1.34%$31.1B
VSMPX1.34%$31.1B
VOO1.41%$24.3B
VFFSX1.41%$24.3B

Share structure

Shares outstanding941,357,048
Float848,416,823
Free float90.1%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$28.3B$28.5B$34.1B$45.0B$65.2B
Cost of revenue$7.3B$6.6B$7.1B$8.4B$10.6B
Gross profit$21.0B$21.9B$27.0B$36.6B$54.6B
R&D$6.9B$7.2B$9.3B$11.0B$13.3B
SG&A$6.1B$6.1B$6.9B$8.1B$11.1B
Operating income$7.9B$8.7B$10.8B$17.5B$29.7B
EBITDA$8.0B$8.7B$8.6B$15.2B$27.9B
Pretax income$6.2B$6.8B$6.6B$12.7B$25.7B
Income tax$573.8M$561.6M$1.3B$2.1B$5.1B
Net income$5.6B$6.2B$5.2B$10.6B$20.6B
EPS, diluted$5.85$6.57$5.80$11.71$22.95
Diluted shares953.7M950.2M903.3M904.1M898.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$3.9B$2.2B$2.9B$3.4B$7.3B
Receivables$8.1B$8.6B$11.3B$13.3B$20.2B
Inventory$3.9B$4.3B$5.8B$7.6B$13.7B
Total current assets$18.5B$18.0B$25.7B$32.7B$55.6B
PP&E, net$9.0B$10.1B$12.9B$17.1B$24.7B
Goodwill & intangibles$11.6B$11.3B$11.8B$11.9B$12.4B
Total assets$48.8B$49.5B$64.0B$78.7B$112.5B
Accounts payable$1.7B$1.9B$2.6B$3.2B$5.4B
Total current liabilities$15.1B$17.1B$27.3B$28.4B$35.2B
Long-term debt$15.3B$14.7B$18.3B$28.5B$40.9B
Total liabilities$39.7B$38.7B$53.1B$64.4B$85.9B
Shareholders' equity$9.2B$10.8B$10.9B$14.3B$26.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$5.6B$6.2B$5.2B$10.6B$20.6B
Depreciation & amortization$1.5B$1.5B$1.5B$1.8B$2.0B
Stock-based compensation$342.8M$371.1M$628.5M$645.6M$626.0M
Change in working capital−$1.0B−$800,000−$3.1B−$5.4B−$8.1B
Operating cash flow$7.4B$7.6B$4.2B$8.8B$16.8B
Capital expenditure−$2.0B−$3.0B−$7.4B−$8.4B−$7.8B
Free cash flow$5.4B$4.6B−$3.2B$414.3M$9.0B
Investing cash flow−$2.9B−$3.8B−$7.2B−$9.3B−$11.0B
Net debt issued / repaid$501.4M−$62.0M$8.6B$8.9B$8.1B
Buybacks−$1.2B−$1.5B−$750.0M−$2.5B−$4.1B
Dividends paid−$3.1B−$3.5B−$4.1B−$4.7B−$5.4B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin74.2%76.8%79.2%81.3%83.8%
Operating margin27.8%30.3%31.6%38.9%45.6%
Net margin19.7%21.9%15.4%23.5%31.7%
FCF margin19.0%16.1%-9.2%1.1%13.8%
ROE76.4%63.6%48.9%84.8%101.3%
ROIC32.5%32.2%26.1%32.9%38.6%
ROA11.7%12.7%9.2%14.8%21.6%
Debt / equity1.881.522.342.371.60
Interest coverage19.1x21.5x14.5x17.2x33.2x
Current ratio1.231.050.941.151.58
Revenue growth+15.4%+0.8%+19.6%+32.0%+44.7%
EPS growth−9.6%+12.3%−11.8%+102.3%+96.0%
P/E at year end45.5x54.4x99.2x65.4x46.8x
EV / EBITDA at year end33.2x40.8x63.3x47.4x35.8x
FCF yield at year end2.12%1.36%-0.61%0.07%0.93%
Dividend payout55.3%56.6%77.7%44.2%26.1%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Product$26.0B$25.5B$28.8B$40.7B$61.0B
Collaboration and Other Revenue$2.4B$3.1B$5.3B$4.3B$4.2B

Revenue by region · FY2025

UNITED STATES$43.5B · 67%
Europe$11.6B · 18%
Non-US$6.1B · 9%
JAPAN$2.1B · 3%
CHINA$2.0B · 3%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $5.65 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$88.7B$87.1B – $91.4B$34.97$32.88 – $37.561635.9x
2027$102.7B$98.1B – $105.1B$47.35$44.10 – $50.671626.5x
2028$114.8B$102.5B – $129.1B$54.14$47.01 – $63.661123.2x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-05$6.40$8.38+30.9%$20.8B$23.0B+10.3%
2026-04-30$6.97$8.55+22.7%$17.8B$19.8B+11.1%
2026-02-04$6.91$7.54+9.1%$17.9B$19.3B+7.5%
2025-10-30$5.69$7.02+23.4%$16.1B$17.6B+9.6%
2025-08-07$5.60$6.31+12.7%$14.7B$15.6B+5.8%
2025-05-01$3.26$3.34+2.5%$12.7B$12.7B+0.5%
2025-02-06$5.03$5.32+5.8%—$13.5B—
2024-10-30$1.47$1.18−19.7%$12.1B$11.4B−5.4%
2024-08-08$2.60$3.92+50.8%$10.0B$11.3B+13.2%
2024-04-30$2.46$2.58+4.9%$8.9B$8.8B−1.9%
2024-02-06$2.22$2.49+12.2%$8.9B$9.4B+4.7%
2023-11-02$-0.08$0.10+225.0%$9.0B$9.5B+6.1%
2023-08-08$1.98$2.11+6.6%$7.6B$8.3B+9.6%
2023-04-27$1.73$1.62−6.4%$7.6B$7.0B−7.8%
2023-02-02$1.78$2.09+17.4%$7.3B$7.3B−0.4%
2022-11-01$1.92$1.98+3.1%$6.9B$6.9B+0.8%
2022-08-04$1.69$1.25−26.0%$6.8B$6.5B−5.3%
2022-04-28$2.32$2.62+12.9%$7.3B$7.8B+7.2%
2022-02-03$2.51$2.49−0.8%$7.7B$8.0B+4.1%
2021-10-26$1.98$1.94−2.0%$6.6B$6.8B+3.1%
2021-08-03$1.89$1.87−1.1%$6.7B$6.7B0.0%
2021-04-27$2.12$1.87−11.8%$7.6B$6.8B−10.9%
2021-01-29$2.35$2.75+17.0%$6.2B$7.4B+20.5%
2020-10-27$1.71$1.54−9.9%$6.4B$5.7B−9.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
2.806-155.106-223.406-293.707-063.407-132.807-203.307-275.108-032.808-103.708-173.008-242.908-31
Week ofNotionalSharesTrades
2026-08-31$2.9B2,532,97999,558
2026-08-24$3.0B2,516,346106,399
2026-08-17$3.7B2,992,100126,666
2026-08-10$2.8B2,351,684105,659
2026-08-03$5.1B4,394,292147,766
2026-07-27$3.3B2,807,761112,990

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1540.5%
DateShort shareShort volumeTotal volume
2026-10-1540.5%702,2291,733,036
2026-10-1445.2%585,7421,295,171
2026-10-1342.3%307,150726,471
2026-10-1248.5%246,440508,072
2026-10-0943.9%258,618588,634
2026-10-0856.5%695,5181,230,934
2026-10-0747.3%493,9881,043,848
2026-10-0649.7%438,807882,030
2026-10-0544.9%316,630705,140
2026-10-0249.8%370,063742,653
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.3Jan-0.0Feb+2.1Mar+1.7Apr+1.8May+3.1Jun+0.6Jul+1.8Aug+0.5Sep-1.3Oct+3.3Nov+4.1Dec
MonthAvg returnUp yearsYears
Jan+1.3%50%20
Feb−0.0%45%20
Mar+2.1%67%21
Apr+1.7%55%20
May+1.8%60%20
Jun+3.1%70%20
Jul+0.6%50%20
Aug+1.8%55%20
Sep+0.5%60%20
Oct−1.3%50%20
Nov+3.3%75%20
Dec+4.1%60%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1468.6
MFI57.1
ADX22.7
Stochastic %K / %D87.0 / 74.6
Williams %R-13.0
CCI277
TSI / signal15.9 / 3.1
Chaikin money flow0.02
ATR$35.80
Bollinger width10.2%
Volume vs 20-day avg1.03x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$1,178.76 (+6.6%)
SMA 50$1,180.17 (+6.5%)
SMA 200$1,079.47 (+16.4%)
EMA 21$1,184.94 (+6.1%)
EMA 50$1,172.97 (+7.2%)
EMA 200$1,085.43 (+15.8%)
Bollinger upper$1,238.99 (+1.5%)
Bollinger lower$1,118.53 (+12.4%)
Parabolic SAR$1,138.64 (+10.4%)
Open the live chart, 110+ indicators

About Eli Lilly and Company

Eli Lilly and Company is a prominent global pharmaceutical firm dedicated to the research, development, and commercialization of human medicines across the world. Its therapeutic offerings include a comprehensive suite of diabetes medications. This encompasses various insulin formulations like Basaglar, the Humalog family (e.g., Mix 75/25, U-100, U-200, Mix 50/50), insulin lispro products (including protamine and mix 75/25), and the Humulin line (e.g., 70/30, N, R, U-500). Furthermore, Eli Lilly provides specialized treatments for type 2 diabetes, such as Jardiance, Trajenta, and Trulicity. In oncology, Eli Lilly offers a robust portfolio targeting various cancers. These include Alimta for non-small cell lung cancer (NSCLC) and malignant pleural mesothelioma; Cyramza, indicated for metastatic gastric cancer, gastro-esophageal junction adenocarcinoma, metastatic NSCLC, metastatic colorectal cancer, and hepatocellular carcinoma; Erbitux for colorectal and various head and neck cancers; Retevmo, used in metastatic NSCLC, medullary thyroid, and other thyroid cancers; Tyvyt for relapsed or refractory classic Hodgkin's lymphoma and non-squamous NSCLC; and Verzenio, prescribed for HR+, HER2- metastatic breast cancer, node-positive, and early breast cancer. For autoimmune and inflammatory conditions, the company markets Olumiant for rheumatoid arthritis, and Taltz, which addresses plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondyloarthritis. Addressing neurological and pain management needs, Eli Lilly provides Cymbalta for depressive disorder, diabetic peripheral neuropathic pain, generalized anxiety disorder, fibromyalgia, and chronic musculoskeletal pain. Emgality is available for migraine prevention and episodic cluster headaches, while Zyprexa treats schizophrenia, bipolar I disorder, and aids in bipolar maintenance. Other significant products include Bamlanivimab and etesevimab, along with Bebtelovimab, both developed for COVID-19. Cialis is offered for erectile dysfunction and benign prostatic hyperplasia, and Forteo is available for osteoporosis. Eli Lilly actively engages in strategic collaborations with numerous partners, including Incyte Corporation; Boehringer Ingelheim Pharmaceuticals, Inc.; AbCellera Biologics Inc.; Junshi Biosciences; Regor Therapeutics Group; Lycia Therapeutics, Inc.; Kumquat Biosciences Inc.; Entos Pharmaceuticals Inc.; and Foghorn Therapeutics Inc. Established in 1876, Eli Lilly and Company maintains its corporate headquarters in Indianapolis, Indiana.

https://www.lilly.com

Key executives

NameTitlePayBorn
David A. RicksChairman, Chief Executive Officer & President$8.9M1968
Daniel SkovronskyChief Scientific & Product Officer and President of Lilly Research Laboratories$4.9M1973
Anat HakimExecutive Vice President, General Counsel & Secretary$3.3M1969
Lucas E. MontarceExecutive Vice President & Chief Financial Officer$3.2M1977
Jacob S. Van NaardenExecutive VP, President of Lilly Oncology & Head of Corporate Business Development$3.0M1985
Diogo RauExecutive VP and Chief Information & Digital Officer$1.1M1975
Eric DozierExecutive Vice President & Chief People Officer—1967
Ilya YuffaExecutive VP and President of Lilly USA & Global Customer Capabilities—1975

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
David A. Ricks Chair, President, and Chief Executive Officer2025$1.7M$23.3M$6.5M$36.7M
Daniel M. Skovronsky, M.D., Ph.D. Executive Vice President, Chief Scientific and Product Officer and President, Lilly Research Labs2025$1.5M$12.0M$3.2M$17.8M
Anat Hakim Executive Vice President, General Counsel and Secretary2025$1.0M$6.0M$2.2M$9.8M
Lucas Montarce Executive Vice President and Chief Financial Officer2025$1.0M$5.0M$2.2M$8.5M
Jake Van Naarden Executive Vice President and President, Lilly Oncology and Head of Corporate Business Development2025$920,192$4.5M$2.0M$7.6M

Employees

39k201834k201935k202035k202139k202243k202347k202450k2025

Dividends

Ex-dateAmountPaid
2026-08-14$1.732026-09-10
2026-05-15$1.732026-06-10
2026-02-13$1.732026-03-10
2025-11-14$1.52025-12-10
2025-08-15$1.52025-09-10
2025-05-16$1.52025-06-10
2025-02-14$1.52025-03-10
2024-11-15$1.32024-12-10

Moat model

Wide · Efficient Scale · 2026-06-30
Cost advantage96
Intangibles88
Switching costs70
Network effect85
Efficient scale100
Our component scores (0-100) and overall 86.5; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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