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Elanco Animal Health Incorporated

ELAN Healthcare Drug Manufacturers Specialty & Generic

Elanco Animal Health Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 6.22% from fiscal 2024. In the quarter to June 2026, revenue grew 10.2%, EPS grew 450.0%, free cash flow grew 35.6% and total debt fell 6.91%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.

23.55 0.01 +0.04%
Market cap
$11.8B
P/E
0.0×
Fwd P/E
278×
Dividend yield
—
F-score
5/9
Altman Z
1.28
Beneish M
−2.68
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 2.61
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — 4 — — — — 2 — — 5 — —
Sell — — — — — — — — — — — —
Insider Ownership 0.99%

Capital & Financial Ratios $m

Market Cap 11,760.00
Revenue 5,020.00
Net Income (199.00)
Free Cash Flow 379.00
Net Debt 3,388.00
Current Ratio 2.05 (at or above 1.5: strong)
Debt/Equity 0.59
P/E ratio 0.00
Fwd P/E 278.00 (above 35: high)
P/S ratio 2.34
P/B ratio 1.79
Past 5Y EPS Growth —
This Y EPS Growth 20.91% (at or above 15%: strong)
Next Y EPS Growth 12.38%
Next Y revenue growth 8.65%
Next 5Y EPS Growth 15.44% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 3.3×; over the ten years it ranged from 1.9× in 2025 to 6.8× in 2020.
P/S against its own 10 years 45.75%
10-year low 10-year high
P/B against its own 10 years 67.67%
10-year low 10-year high
EV/Sales against its own 10 years 40.26%
10-year low 10-year high
EV/FCF against its own 10 years 43.81%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 352 468 545 530
Receivables 1,010 886 940 1,152
Inventory 1,735 1,574 1,737 1,769
Other — — — —
3,407 3,215 3,458 3,797
2023 2024 2025 Q'26
Payables 270 296 368 427
ST’ Debt 38 44 74 73
Other 776 798 949 1,352
1,241 1,315 1,597 1,852

Compound Annual Growth %

10y 5y 3y
Sales 4.95% 7.59% 2.25%
Cash Flow 55.91% 0.00% 7.40%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% (5.03%) (3.52%)

Revenue $m

Mar Jun Sep Dec Year
’26 1,371 1,368 — — —
’25 1,193 1,241 1,137 1,144 4,715
’24 1,205 1,184 1,030 1,020 4,439
’23 1,257 1,057 1,068 1,035 4,417
’22 1,226 1,175 1,026 984 4,411
’21 1,242 1,279 1,131 1,112 4,764
’20 658 586 890 1,137 3,271
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 13 277 — — —
’25 (4) 237 219 108 560
’24 2 200 162 177 541
’23 (145) 61 198 157 271
’22 (62) 312 189 13 452
’21 22 149 89 223 483
’20 4 160 (112) (93) (41)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (38) 244 — — —
’25 (69) 180 127 46 284
’24 (22) 166 112 116 380
’23 (183) 19 165 116 117
’22 (88) 279 143 (66) 268
’21 (34) 124 64 132 286
’20 (41) 164 (235) (168) (280)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.11 0.11 — — —
’25 0.13 0.02 (0.07) (0.56) (0.47)
’24 0.06 (0.10) 0.73 (0.02) 0.68
’23 0.21 (0.20) (2.22) (0.29) (2.50)
’22 0.10 (0.02) (0.10) (0.11) (0.15)
’21 (0.12) (0.43) (0.21) (0.20) (0.97)
’20 (0.12) (0.13) (0.29) (0.66) (1.27)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — 28.85 25.25 15.17 27.16 11.18 7.88 11.40 8.02

Analyst estimates 2026–2028

Powerpack
High — — 37.61 35.46 34.09 37.49 29.66 15.10 18.80 23.70
People
People Employees — 5,640 5,590 6,080 10,200 1,100 9,000 9,300 9,000 9,400
Revenue/emp, $m 0.00 0.51 0.55 0.51 0.32 4.33 0.49 0.47 0.49 0.50
Income, $m
Income, $m Revenue 2,914 2,889 3,067 3,071 3,271 4,764 4,411 4,417 4,439 4,715
Gross margin, % 51.64 48.29 48.68 52.13 49.04 55.25 56.63 56.28 54.88 54.99
EBT (22) (233) 114 78 (677) (571) (72) (1,195) 488 (224)
EBT margin, % (0.77) (8.05) 3.72 2.54 (20.70) (11.99) (1.63) (27.05) 10.99 (4.75)
Net income (48) (311) 87 68 (574) (483) (78) (1,231) 338 (232)
Depreciation 254 318 296 314 517 716 682 694 662 680
Per share, $
Per share, $ Revenue 9.93 9.85 9.78 8.32 7.41 9.78 9.03 8.97 8.99 9.50
Earnings (0.16) (1.06) 0.28 0.18 (1.27) (0.97) (0.15) (2.50) 0.68 (0.47)
Cash flow 0.53 0.59 1.55 0.61 (0.09) 0.99 0.93 0.55 1.10 1.13
Capex (0.35) (0.27) (0.41) (0.53) (0.54) (0.40) (0.38) (0.31) (0.33) (0.56)
Free cash flow 0.18 0.32 1.15 0.07 (0.63) 0.59 0.55 0.24 0.77 0.57
Book value 23.96 26.53 16.57 15.03 19.20 15.41 14.93 12.64 12.34 13.19
Shares, m 293 293 314 369 441 487 488 492 494 496
Valuation, ×
Valuation, × P/E 0.00 0.00 134.86 155.00 0.00 0.00 0.00 0.00 17.81 0.00
P/S 0.00 0.00 3.23 3.54 4.14 2.90 1.37 1.63 1.35 2.38
P/B 1.50 1.50 1.90 1.96 1.60 1.84 0.83 1.16 0.98 1.72
EV/Sales 0.00 0.00 3.81 4.19 5.86 4.09 2.61 2.86 2.22 3.12
EV/FCF 42.88 42.88 32.26 (218.25) (68.42) 68.21 42.99 107.94 26.44 56.13
Cash, $m
Cash, $m Operating cash flow 156 174 487 224 (41) 483 452 271 541 560
Capex (103) (79) (127) (197) (239) (197) (184) (154) (161) (276)
Free cash flow 53 94 360 27 (280) 286 268 117 380 284
Balance, $m
Balance, $m Working capital 1,329 1,481 1,534 1,555 1,340 1,627 1,577 2,166 1,900 1,861
Total debt — — 2,472 2,355 6,127 6,319 5,836 5,774 4,321 4,017
Net debt (259) (323) 1,795 2,010 5,621 5,681 5,491 5,422 3,853 3,472
Shareholders’ equity 7,028 7,780 5,198 5,547 8,476 7,508 7,289 6,223 6,096 6,547
Returns, %
Returns, % ROA (1.18) (3.65) 0.97 0.76 (4.30) (2.83) (0.49) (8.25) 2.51 (1.79)
ROIC (0.23) (1.95) 1.65 1.53 (3.13) (1.56) 0.98 (4.52) 0.63 0.09
ROE (0.65) (4.20) 1.33 1.27 (8.19) (6.04) (1.05) (18.22) 5.49 (3.67)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Elanco Animal Health Incorporated vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VTRS Viatris Inc. $20.9B — (loss-making) 61.1× +4.88% (above 0%: growing) n/m +101.08% (above 0%: growing) 38.77% 0.17% Compare
NBIX Neurocrine Biosciences, Inc. $13.9B 19.2× 30.5× +39.49% (above 0%: growing) +31.19% (above 0%: growing) +43.69% (above 0%: growing) 97.58% 15.80% Compare
ELAN Elanco Animal Health Incorporated $11.8B — (loss-making) 278× +10.23% (above 0%: growing) +450.00% (above 0%: growing) +35.56% (above 0%: growing) 58.33% 7.97%
RDY Dr. Reddy's Laboratories Ltd $10.7B 32.9× 24.3× −14.44% (below 0%: shrinking) −70.00% (below 0%: shrinking) −143.40% (below 0%: shrinking) 46.54% 4.81% Compare
HIMS Hims & Hers Health, Inc. $6.9B — (loss-making) — (loss-making) +38.25% (above 0%: growing) n/m +5.09% (above 0%: growing) 63.83% (12.90%) Compare
ALKS Alkermes plc $6.7B 102× — (loss-making) +26.97% (above 0%: growing) −99.43% (below 0%: shrinking) +1.13% (above 0%: growing) 80.22% 3.70% Compare
LNTH Lantheus Holdings, Inc. $6.5B 23.7× 25.3× +2.68% (above 0%: growing) 0.00% +13.55% (above 0%: growing) 62.30% 25.82% Compare
KNSA Kiniksa Pharmaceuticals International, plc $6.2B 73.4× 38.7× +55.36% (above 0%: growing) +37.50% (above 0%: growing) +66.63% (above 0%: growing) 90.32% 11.16% Compare
AMRX AMNEAL PHARMACEUTICALS, INC. $6.2B 38.4× 51.6× +9.89% (above 0%: growing) +157.14% (above 0%: growing) −351.41% (below 0%: shrinking) 42.01% 16.30% Compare
Median of peers $6.8B 35.6× 34.6× +18.43% +15.60% +9.32% 63.06% 7.99%

All 86 Drug Manufacturers Specialty & Generic stocks →

Elanco Animal Health Incorporated (ELAN) key facts

  • Strength: Elanco Animal Health Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $4.7 billion, up 6.22% from fiscal 2024.
  • Elanco Animal Health Incorporated (ELAN) is a Drug Manufacturers Specialty & Generic company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, ELAN traded at $23.55, a market capitalization of $11.8 billion.
  • Return on equity was −3.67% and debt-to-equity 0.59.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.28 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Elanco Animal Health Incorporated (ELAN) Latest News

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stockrow.com/ELAN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com