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Eli Lilly and Company

LLY Healthcare Drug Manufacturers General

Eli Lilly and Company’s revenue for fiscal 2025 (year ended December 2025) was $65.2 billion, up 44.7% from fiscal 2024. In the quarter to June 2026, revenue grew 47.7%, EPS grew 26.2%, free cash flow grew 458.1% and total debt rose 37.6%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for five.

1,179.27 9.67 +0.83%

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Market cap: $1.10T
P/E: 39.6×
Fwd P/E: 33.1×
Dividend yield: 0.57%
F-score: 7/9
Altman Z: 8.61
Beneish M: −1.91
Dividend safety: 86/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 783.04

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	18	3	2	—	—	—	1	1	—	3	—	—

Insider Ownership 4.93%

Capital & Financial Ratios $m

Market Cap 1,101,010.00

Revenue 79,665.00

Net Income 26,711.00

Free Cash Flow 18,190.00

Net Debt 45,958.00

Current Ratio 1.35

Debt/Equity 1.62

P/E ratio 39.57

Fwd P/E 33.10

P/S ratio 13.21

P/B ratio 31.06

Past 5Y EPS Growth 27.58%

This Y EPS Growth 49.89%

Next Y EPS Growth 29.33%

Next Y revenue growth 35.78%

Next 5Y EPS Growth 30.67%

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

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 47.64%

10-year low 10-year high

P/S against its own 10 years 74.45%

10-year low 10-year high

P/B against its own 10 years 51.59%

10-year low 10-year high

EV/Sales against its own 10 years 74.26%

10-year low 10-year high

EV/FCF against its own 10 years 67.28%

10-year low 10-year high

Dividends

Payout Ratio 0.22

Annual Dividend Rate 6.69

Annual Dividend Yield 0.57%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	6.88	1.73 1.73 1.73
2025	6.00	1.50 1.50 1.50 1.50
2024	5.20	1.30 1.30 1.30 1.30
2023	4.52	1.13 1.13 1.13 1.13
2022	3.92	0.98 0.98 0.98 0.98
2021	3.40	0.85 0.85 0.85 0.85
2020	2.96	0.74 0.74 0.74 0.74
2019	2.58	0.65 0.65 0.65 0.65
2018	2.25	0.56 0.56 0.56 0.56
2017	2.08	0.52 0.52 0.52 0.52
2016	2.55	0.51 0.51 0.51 0.51 0.51

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,928	3,268	7,268	8,950
Receivables	11,336	13,276	20,155	23,475
Inventory	5,773	7,589	13,744	16,793
Other	150	266	147	86
	25,727	32,740	55,629	64,672

	2023	2024	2025	Q'26
Payables	2,599	3,229	5,379	6,112
ST’ Debt	—	—	—	7,050
Other	16,621	20,030	28,214	34,579
	27,293	28,376	35,228	47,741

Compound Annual Growth %

	10y	5y	3y
Sales	12.56%	21.58%	31.69%
Cash Flow	18.95%	20.93%	30.38%
Earnings	23.96%	27.22%	48.96%
Book Value	6.16%	35.43%	35.04%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	19,799	22,974	—	—	—
’25	12,729	15,558	17,601	19,291	65,179
’24	8,768	11,303	11,439	13,533	45,043
’23	6,960	8,312	9,499	9,353	34,124
’22	7,810	6,488	6,942	7,302	28,541
’21	6,806	6,740	6,773	8,000	28,318
’20	5,860	5,499	5,741	7,440	24,540

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	5,333	10,690	—	—	—
’25	1,666	3,087	8,835	3,225	16,813
’24	1,166	1,466	3,712	2,474	8,818
’23	1,731	632	2,190	(312)	4,240
’22	2,523	1,183	2,217	1,663	7,586
’21	1,697	1,776	1,631	2,262	7,366
’20	382	2,495	1,807	1,815	6,500

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3,007	7,757	—	—	—
’25	156	1,390	6,748	678	8,972
’24	180	241	2,892	978	3,760
’23	1,062	(106)	2,824	(1,383)	792
’22	2,158	812	1,665	1,162	5,731
’21	1,397	1,394	1,295	1,970	6,056
’20	124	2,214	1,414	1,361	5,112

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	8.26	7.94	—	—	—
’25	3.06	6.29	6.21	7.39	22.95
’24	2.48	3.28	1.07	4.88	11.71
’23	1.49	1.95	(0.06)	2.42	5.80
’22	2.10	1.05	1.61	2.14	6.90
’21	1.49	1.53	1.22	1.90	6.12
’20	1.60	1.55	1.33	2.32	6.79

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	64.18	73.54	73.69	101.36	117.06	161.78	231.87	309.20	579.05	623.78	Analyst estimates 2026–2028 Powerpack
	High	85.40	89.09	119.84	137.00	173.90	283.90	375.25	629.97	972.53	1,111.99
People
People	Employees	41,975	40,655	38,680	33,625	35,000	35,000	39,000	43,000	47,000	50,000
	Revenue/emp, $m	0.51	0.49	0.56	0.66	0.70	0.81	0.73	0.79	0.96	1.30
Income, $m
Income, $m	Revenue	21,222	19,974	21,493	22,320	24,540	28,318	28,541	34,124	45,043	65,179
	Gross margin, %	73.09	77.73	78.22	78.85	77.66	74.18	76.77	79.25	81.31	83.04
	EBT	3,374	2,305	3,680	5,266	7,230	6,156	6,806	6,554	12,680	25,731
	EBT margin, %	15.90	11.54	17.12	23.59	29.46	21.74	23.85	19.21	28.15	39.48
	Net income	2,738	(204)	3,232	8,318	6,194	5,582	6,245	5,240	10,590	20,640
	Depreciation	1,497	1,567	1,609	1,233	1,324	1,548	1,523	1,527	1,767	1,997
Per share, $
Per share, $	Revenue	20.05	18.99	20.91	23.97	27.04	31.22	31.65	37.91	50.01	72.64
	Earnings	2.58	(0.19)	3.13	8.89	6.79	6.12	6.90	5.80	11.71	22.95
	Cash flow	4.58	5.34	5.38	5.19	7.16	8.12	8.41	4.71	9.79	18.74
	Capex	(0.91)	(1.02)	(1.18)	(1.11)	(1.53)	(1.44)	(2.06)	(3.83)	(5.62)	(8.74)
	Free cash flow	3.67	4.31	4.20	4.08	5.63	6.68	6.36	0.88	4.18	10.00
	Book value	13.30	11.09	10.61	2.90	6.42	10.09	11.95	12.07	15.85	29.57
	Shares, m	1,058	1,052	1,028	931	908	907	902	900	901	897
Valuation, ×
Valuation, ×	P/E	28.91	0.00	36.97	14.97	24.83	44.99	52.90	102.10	65.93	46.83
	P/S	3.72	4.46	5.53	5.48	6.24	8.85	11.53	15.62	15.44	14.79
	P/B	5.61	7.64	10.90	45.34	26.31	27.37	30.54	49.07	48.72	36.34
	EV/Sales	3.83	4.56	5.62	6.07	6.77	9.30	12.02	16.14	16.02	15.34
	EV/FCF	18.92	18.39	25.56	32.13	30.09	40.75	59.19	223.69	121.06	89.46
Cash, $m
Cash, $m	Operating cash flow	4,851	5,616	5,525	4,837	6,500	7,366	7,586	4,240	8,818	16,813
	Capex	(964)	(1,077)	(1,211)	(1,034)	(1,388)	(1,310)	(1,854)	(3,448)	(5,058)	(7,841)
	Free cash flow	3,887	4,539	4,314	3,803	5,112	6,056	5,731	792	3,760	8,972
Balance, $m
Balance, $m	Working capital	4,115	4,666	8,662	1,934	4,981	3,400	896	(1,566)	4,364	20,401
	Total debt	10,305	13,648	10,298	15,439	16,595	15,346	14,738	18,321	28,527	40,868
	Net debt	4,266	5,613	2,890	13,000	12,914	11,438	12,526	15,393	25,259	33,600
	Shareholders’ equity	14,081	11,668	10,909	2,699	5,825	9,155	10,775	10,864	14,272	26,535
Returns, %
Returns, %	ROA	7.36	(0.49)	7.27	20.00	14.42	11.70	12.71	9.23	14.84	21.59
	ROIC	11.11	7.25	16.01	19.80	20.20	19.29	19.12	15.37	20.39	27.34
	ROE	19.10	(1.59)	28.63	122.26	145.32	74.52	62.67	48.43	84.26	101.16

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LLY Eli Lilly and Company	$1.10T	39.6×	33.1×	+47.67% (above 0%: growing)	+26.23% (above 0%: growing)	+458.06% (above 0%: growing)	85.78%	39.08%
JNJ Johnson & Johnson	$618.1B	30.3×	24.9×	+6.60% (above 0%: growing)	−0.87% (below 0%: shrinking)	+154.78% (above 0%: growing)	68.19%	28.63%	Compare
ABBV AbbVie Inc.	$481.4B	78.1×	27.8×	+10.16% (above 0%: growing)	+290.38% (above 0%: growing)	−36.24% (below 0%: shrinking)	74.74%	37.86%	Compare
MRK Merck & Co., Inc.	$351.3B	116×	53.9×	+5.07% (above 0%: growing)	n/m	+77.03% (above 0%: growing)	73.54%	(2.61%)	Compare
NVS Novartis AG	$262.0B	21.6×	20.6×	+0.78% (above 0%: growing)	−17.39% (below 0%: shrinking)	−15.53% (below 0%: shrinking)	75.19%	31.77%	Compare
AZN AstraZeneca PLC	$246.3B	23.6×	23.4×	+6.41% (above 0%: growing)	+1.90% (above 0%: growing)	−107.45% (below 0%: shrinking)	83.60%	20.57%	Compare
AMGN Amgen Inc.	$220.3B	25.6×	22.7×	+9.53% (above 0%: growing)	+65.41% (above 0%: growing)	+82.57% (above 0%: growing)	72.04%	34.95%	Compare
GILD Gilead Sciences, Inc.	$182.4B	— (loss-making)	— (loss-making)	+10.18% (above 0%: growing)	n/m	+376.81% (above 0%: growing)	79.76%	(133.21%)	Compare
PFE Pfizer Inc.	$158.6B	37.2×	12.2×	+2.60% (above 0%: growing)	n/m	+125.17% (above 0%: growing)	72.78%	20.38%	Compare
Median of peers	$254.1B	30.3×	23.4×	+6.51%	+1.90%	+79.80%	74.14%	24.60%

All 21 Drug Manufacturers General stocks →

Eli Lilly and Company (LLY) key facts

Strength: Eli Lilly and Company’s revenue for fiscal 2025 (year ended December 2025) was $65.2 billion, up 44.7% from fiscal 2024.
Strength: Net income was $20.6 billion, or $22.95 per share (basic), a net margin of 31.7%.
Eli Lilly and Company (LLY) is a Drug Manufacturers General company in the Healthcare sector, listed on the New York Stock Exchange.
As of October 9, 2026, LLY traded at $1,179.27, a market capitalization of $1.10 trillion.
At that price the stock trades at 39.6× trailing-twelve-month earnings and 13.2× sales; its P/E is higher than 48% of its own readings over the past ten years.
Eli Lilly and Company pays an annual dividend of $6.69 per share, a yield of 0.57%, with a payout ratio of 22.5%.
Return on equity was 101.2% and debt-to-equity 1.62.
Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 8.61 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 25 September 2026

Eli Lilly and Company reported revenue of $65.2 billion in FY2025 and net income of $20.6 billion in FY2025. Revenue grew 44.7% in FY2025 against FY2024, while diluted EPS grew 96.0% in FY2025 against FY2024. Free cash flow was $9.0 billion in FY2025.

In Q2 FY2026, revenue was $23.0 billion, net income was $7.1 billion, and diluted EPS was $7.94. Revenue increased 47.7% in Q2 FY2026 against Q2 FY2025, while free cash flow was $7.8 billion in Q2 FY2026. Net debt reached $46.0 billion in Q2 FY2026.

Read the full analysis →