NYSE : LLY
Eli Lilly and Company — Financial statements
Healthcare · Drug Manufacturers - General · United States
Last price 1373.7 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.22T
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Financial statements
Eli Lilly and Company (LLY) reported revenue of 86.46B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 86.46B | 65.18B | 45.04B | 34.12B | 28.54B | 28.32B |
| Cost of Revenue | 14.15B | 11.05B | 8.42B | 7.08B | 6.63B | 6.97B |
| Gross Profit | 72.31B | 54.13B | 36.62B | 27.04B | 21.91B | 21.35B |
| Selling, General & Admin | 12.62B | 11.09B | 8.59B | 7.40B | 6.07B | 6.14B |
| Research & Development | 15.38B | 13.34B | 10.99B | 9.31B | 7.19B | 6.93B |
| Operating Expenses | 28.00B | 24.43B | 19.59B | 16.72B | 13.26B | 13.07B |
| Operating Income | 44.31B | 29.70B | 17.04B | 10.32B | 8.65B | 8.27B |
| Interest Expense | -383.00M | -331.60M | -339.80M | |||
| Interest & Investment Income | 62.80M | 25.40M | ||||
| Currency Exchange Gain (Loss) | 481.00M | -191.30M | -204.60M | |||
| Other Non Operating Income (Expenses) | -205.00M | -571.00M | -219.00M | 97.00M | 177.00M | 256.00M |
| EBT Excluding Unusual Items | 44.21B | 29.12B | 16.82B | 10.42B | 8.37B | 8.01B |
| Merger & Restructuring Charges | -13.00M | |||||
| Gain (Loss) on Sale of Investments | -410.70M | 176.90M | ||||
| Other Unusual Items | -1.37B | -484.00M | -861.00M | -68.00M | -244.60M | -1.05B |
| Pretax Income | 34.77B | 25.73B | 12.68B | 6.55B | 6.81B | 6.16B |
| Income Tax Expense | 7.19B | 5.09B | 2.09B | 1.31B | 561.60M | 573.80M |
| Earnings From Continuing Operations | 27.58B | 20.64B | 10.59B | 5.24B | 6.24B | 5.58B |
| Net Income | 27.58B | 20.64B | 10.59B | 5.24B | 6.24B | 5.58B |
| Net Income to Common | 27.58B | 20.64B | 10.59B | 5.24B | 6.24B | 5.58B |
| Shares Outstanding (Basic) | 893.62M | 897.30M | 900.60M | 900.20M | 901.74M | 906.96M |
| Shares Outstanding (Diluted) | 895.33M | 899.30M | 904.10M | 903.30M | 904.62M | 911.68M |
| EPS (Basic) | 30.86 | 23.00 | 11.76 | 5.82 | 6.93 | 6.15 |
| EPS (Diluted) | 30.81 | 22.95 | 11.71 | 5.80 | 6.90 | 6.12 |
| Free Cash Flow | 19.66B | 8.97B | 3.76B | 792.00M | 5.73B | 6.06B |
| Free Cash Flow Per Share | 21.96 | 9.98 | 4.16 | 0.88 | 6.34 | 6.64 |
| Dividend Per Share | 6.69 | 6.00 | 5.20 | 4.52 | 3.92 | 3.40 |
| Gross Margin | 83.63% | 83.04% | 81.31% | 79.25% | 76.77% | 75.38% |
| Operating Margin | 51.25% | 45.56% | 37.83% | 30.26% | 30.32% | 29.21% |
| Profit Margin | 31.90% | 31.67% | 23.51% | 15.36% | 21.88% | 19.71% |
| Free Cash Flow Margin | 22.74% | 13.76% | 8.35% | 2.32% | 20.08% | 21.39% |
| EBITDA | 46.49B | 31.69B | 18.81B | 11.85B | 10.18B | 9.82B |
| EBITDA Margin | 53.77% | 48.62% | 41.75% | 34.73% | 35.65% | 34.68% |
| D&A For EBITDA | 2.17B | 2.00B | 1.77B | 1.53B | 1.52B | 1.55B |
| EBIT | 44.31B | 29.70B | 17.04B | 10.32B | 8.65B | 8.27B |
| EBIT Margin | 51.25% | 45.56% | 37.83% | 30.26% | 30.32% | 29.21% |
| Effective Tax Rate | 20.68% | 19.79% | 16.48% | 20.05% | 8.25% | 9.32% |
| Advertising Expenses | 966.80M | 1.24B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.88B | 7.27B | 3.27B | 2.82B | 2.07B | 3.82B |
| Short-Term Investments | 109.10M | 144.80M | 90.10M | |||
| Trading Asset Securities | 113.80M | 230.50M | 4.80M | |||
| Cash & Short-Term Investments | 4.88B | 7.27B | 3.27B | 3.04B | 2.44B | 3.91B |
| Accounts Receivable | 22.09B | 17.76B | 11.01B | 9.09B | 6.90B | 6.67B |
| Other Receivables | 3.14B | 2.36B | 1.93B | 2.00B | 1.41B | 1.44B |
| Receivables | 25.23B | 20.12B | 12.94B | 11.09B | 8.30B | 8.11B |
| Inventory | 18.19B | 13.74B | 7.59B | 5.77B | 4.31B | 3.89B |
| Prepaid Expenses | 16.86B | 1.42B | 1.24B | 5.54B | 2.95B | 2.53B |
| Other Current Assets | 91.00M | 13.09B | 7.70B | 279.10M | 33.90M | 9.90M |
| Total Current Assets | 65.26B | 55.63B | 32.74B | 25.73B | 18.03B | 18.45B |
| Property, Plant & Equipment | 32.19B | 25.93B | 18.15B | 13.94B | 10.14B | 8.99B |
| Long-Term Investments | 4.01B | 2.80B | 3.22B | 3.41B | 3.20B | 3.40B |
| Goodwill | 9.87B | 5.90B | 5.77B | 4.94B | 4.07B | 3.89B |
| Other Intangible Assets | 18.08B | 6.52B | 6.17B | 6.91B | 7.21B | 7.69B |
| Long-Term Deferred Tax Assets | 10.96B | 9.96B | 8.00B | 5.48B | 2.79B | 2.49B |
| Other Long-Term Assets | 7.70B | 5.73B | 4.67B | 3.61B | 4.04B | 3.89B |
| Total Assets | 148.07B | 112.48B | 78.72B | 64.01B | 49.49B | 48.81B |
| Accounts Payable | 5.79B | 5.38B | 3.23B | 2.60B | 1.93B | 1.67B |
| Accrued Expenses | 26.46B | 19.76B | 13.63B | 13.42B | 9.92B | 7.88B |
| Short-Term Debt | 4.34B | 6.19B | 1.50B | |||
| Current Portion of Long-Term Debt | 2.52B | 1.64B | 779.00M | 745.90M | 3.10M | 1.54B |
| Current Portion of Leases | 222.00M | 176.00M | 156.30M | |||
| Current Income Taxes Payable | 126.90M | |||||
| Other Current Liabilities | 12.22B | 8.23B | 6.22B | 4.18B | 3.78B | 3.84B |
| Total Current Liabilities | 47.00B | 35.23B | 28.38B | 27.29B | 17.14B | 15.05B |
| Long-Term Debt | 46.99B | 40.87B | 28.53B | 18.42B | 14.87B | 15.39B |
| Long-Term Leases | 1.14B | 971.00M | 948.50M | |||
| Pension & Post-Retirement Benefits | 1.44B | 1.31B | 1.95B | |||
| Long-Term Deferred Tax Liabilities | 1.73B | |||||
| Other Long-Term Liabilities | 13.82B | 8.71B | 6.57B | 5.04B | 5.40B | 5.52B |
| Total Liabilities | 107.80B | 85.94B | 64.44B | 53.14B | 38.71B | 39.65B |
| Common Stock | 588.00M | 590.00M | 592.00M | 593.60M | 594.10M | 596.30M |
| Additional Paid-In Capital | 7.31B | 7.35B | 7.44B | 7.25B | 6.92B | 6.83B |
| Retained Earnings | 37.97B | 24.47B | 13.54B | 10.31B | 10.04B | 8.96B |
| Treasury Stock | -44.20M | -50.50M | -52.70M | |||
| Comprehensive Income & Other | -5.59B | -5.87B | -7.30B | -7.34B | -6.86B | -7.36B |
| Total Common Equity | 40.27B | 26.54B | 14.27B | 10.77B | 10.65B | 8.98B |
| Minority Interest | 91.80M | 125.60M | 175.60M | |||
| Shareholders' Equity | 40.27B | 26.54B | 14.27B | 10.86B | 10.78B | 9.15B |
| Total Liabilities & Equity | 148.07B | 112.48B | 78.72B | 64.01B | 49.49B | 48.81B |
| Total Debt | 49.50B | 43.87B | 34.79B | 26.46B | 16.37B | 16.93B |
| Net Cash (Debt) | -43.86B | -36.37B | -31.04B | -22.71B | -13.25B | -11.73B |
| Net Cash Per Share | -48.99 | -40.45 | -34.33 | -25.14 | -14.64 | -12.87 |
| Filing Date Shares Outstanding | 890.75M | 893.36M | 898.17M | 900.16M | 900.30M | 902.35M |
| Total Common Shares Outstanding | 891.20M | 894.80M | 897.54M | 899.38M | 900.18M | 903.65M |
| Working Capital | 18.27B | 20.40B | 4.36B | -1.57B | 896.30M | 3.40B |
| Book Value Per Share | 45.19 | 29.65 | 15.90 | 11.98 | 11.83 | 9.94 |
| Tangible Book Value | 12.31B | 14.12B | 2.34B | -1.07B | -629.80M | -2.60B |
| Tangible Book Value Per Share | 13.82 | 15.78 | 2.60 | -1.19 | -0.70 | -2.88 |
| Land | 647.00M | 382.00M | 319.80M | 256.60M | 258.70M | |
| Buildings | 10.09B | 8.81B | 8.28B | 7.92B | 7.59B | |
| Machinery | 13.49B | 11.46B | 10.33B | 9.41B | 8.94B | |
| Construction In Progress | 13.01B | 8.24B | 5.08B | 2.80B | 2.18B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 27.58B | 20.64B | 10.59B | 5.24B | 6.24B | 5.58B |
| Depreciation & Amortization | 2.17B | 2.00B | 1.77B | 1.53B | 1.52B | 1.55B |
| Loss (Gain) From Sale of Assets | -180.00M | -180.00M | -224.00M | -1.88B | -156.50M | -216.00M |
| Asset Writedown & Restructuring Costs | 8.07B | 2.91B | 3.28B | 3.80B | 908.50M | 970.10M |
| Loss (Gain) From Sale of Investments | 420.00M | -178.00M | ||||
| Stock-Based Compensation | 698.00M | 626.00M | 646.00M | 629.00M | 371.10M | 342.80M |
| Other Operating Activities | -2.12B | -1.09B | -1.86B | -2.02B | -1.72B | 330.30M |
| Change in Accounts Receivable | -7.00B | -7.00B | -2.15B | -2.45B | -299.60M | -1.28B |
| Change in Inventory | -4.67B | -4.67B | -2.51B | -1.43B | -599.70M | -235.90M |
| Change in Accounts Payable | 10.19B | 10.19B | 2.61B | 4.27B | 1.69B | -1.01B |
| Change in Other Net Operating Assets | -4.09B | -6.61B | -3.33B | -3.45B | -793.50M | 1.52B |
| Operating Cash Flow | 30.64B | 16.81B | 8.82B | 4.24B | 7.59B | 7.37B |
| Capital Expenditures | -10.98B | -7.84B | -5.06B | -3.45B | -1.85B | -1.31B |
| Cash Acquisitions | -10.80B | -661.00M | -948.00M | -1.04B | -327.20M | -747.40M |
| Sale (Purchase) of Intangibles | -7.75B | -2.79B | -2.75B | -2.34B | -1.04B | -452.60M |
| Investment in Securities | -25.00M | 319.00M | -303.00M | -223.00M | -244.00M | -166.00M |
| Other Investing Activities | -847.00M | 1.00M | -248.00M | -98.00M | -302.20M | -191.70M |
| Investing Cash Flow | -30.41B | -10.97B | -9.30B | -7.15B | -3.76B | -2.87B |
| Short-Term Debt Issued | 4.69B | 1.50B | ||||
| Long-Term Debt Issued | 13.17B | 11.42B | 3.96B | 2.41B | ||
| Total Debt Issued | 8.94B | 13.17B | 11.42B | 8.65B | 1.50B | 2.41B |
| Short-Term Debt Repaid | -4.34B | -1.85B | -4.00M | |||
| Long-Term Debt Repaid | -778.00M | -664.00M | -1.56B | -1.91B | ||
| Total Debt Repaid | -1.62B | -5.12B | -2.52B | -1.56B | -1.91B | |
| Net Debt Issued (Repaid) | 7.32B | 8.05B | 8.90B | 8.65B | -62.00M | 501.40M |
| Repurchase of Common Stock | -5.84B | -4.11B | -2.50B | -750.00M | -1.50B | -1.25B |
| Common Dividends Paid | -5.98B | -5.38B | -4.68B | -4.07B | -3.54B | -3.09B |
| Other Financing Activities | -638.00M | -772.00M | -491.00M | -335.00M | -308.90M | -295.90M |
| Financing Cash Flow | -5.14B | -2.21B | 1.23B | 3.50B | -5.41B | -4.13B |
| Foreign Exchange Rate Adjustments | 4.00M | 372.00M | -297.00M | 169.00M | -167.60M | -205.70M |
| Net Cash Flow | -4.91B | 4.00B | 449.00M | 752.00M | -1.75B | 161.40M |
| Free Cash Flow | 19.66B | 8.97B | 3.76B | 792.00M | 5.73B | 6.06B |
| Free Cash Flow Margin | 22.74% | 13.76% | 8.35% | 2.32% | 20.08% | 21.39% |
| Free Cash Flow Per Share | 21.96 | 9.98 | 4.16 | 0.88 | 6.34 | 6.64 |
| Levered Free Cash Flow | 9.34B | 1.95B | 1.35B | 292.32M | 5.28B | 5.46B |
| Unlevered Free Cash Flow | 9.58B | 1.95B | 1.35B | 292.32M | 5.48B | 5.67B |
| Cash Interest Paid | 633.00M | 633.00M | 578.00M | 404.00M | 323.70M | 338.00M |
| Cash Income Tax Paid | 10.81B | 10.81B | 6.56B | 5.56B | 2.67B | 1.60B |
| Change in Working Capital | -5.57B | -8.09B | -5.38B | -3.06B | -800.00K | -1.01B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.26T | 962.25B | 695.13B | 524.22B | 347.61B | 250.42B |
| Enterprise Value | 1.30T | 994.65B | 722.37B | 541.49B | 360.38B | 262.42B |
| Last Close Price | 1,410.99 | 1,069.51 | 762.60 | 572.09 | 355.54 | 264.82 |
| PE Ratio | 45.79 | 46.62 | 65.64 | 100.04 | 55.66 | 44.86 |
| Forward PE | 30.36 | 34.33 | 35.13 | 53.37 | 46.27 | 31.77 |
| PS Ratio | 14.54 | 14.76 | 15.43 | 15.36 | 12.18 | 8.84 |
| PB Ratio | 31.23 | 36.26 | 48.71 | 48.26 | 32.26 | 27.35 |
| P/TBV Ratio | 102.07 | 68.17 | 297.57 | |||
| P/FCF Ratio | 63.93 | 107.25 | 184.88 | 661.90 | 60.65 | 41.35 |
| P/OCF Ratio | 41.01 | 57.23 | 78.83 | 123.64 | 45.83 | 34.00 |
| PEG Ratio | 1.46 | 1.07 | 0.93 | 2.51 | 2.54 | 2.20 |
| EV/Sales Ratio | 15.04 | 15.26 | 16.04 | 15.87 | 12.63 | 9.27 |
| EV/EBITDA Ratio | 27.98 | 31.38 | 38.41 | 45.69 | 35.41 | 26.72 |
| EV/EBIT Ratio | 29.35 | 33.49 | 42.39 | 52.44 | 41.65 | 31.72 |
| EV/FCF Ratio | 66.16 | 110.86 | 192.12 | 683.70 | 62.88 | 43.33 |
| Debt / Equity Ratio | 1.23 | 1.65 | 2.44 | 2.44 | 1.52 | 1.85 |
| Debt / EBITDA Ratio | 1.06 | 1.37 | 1.83 | 2.20 | 1.61 | 1.72 |
| Debt / FCF Ratio | 2.52 | 4.89 | 9.25 | 33.41 | 2.86 | 2.79 |
| Net Debt / Equity Ratio | 1.09 | 1.37 | 2.17 | 2.09 | 1.23 | 1.28 |
| Net Debt / EBITDA Ratio | 0.94 | 1.15 | 1.65 | 1.92 | 1.30 | 1.20 |
| Net Debt / FCF Ratio | 2.23 | 4.05 | 8.26 | 28.68 | 2.31 | 1.94 |
| Asset Turnover | 0.66 | 0.68 | 0.63 | 0.60 | 0.58 | 0.59 |
| Inventory Turnover | 0.93 | 1.04 | 1.26 | 1.41 | 1.62 | 1.77 |
| Quick Ratio | 0.64 | 0.78 | 0.57 | 0.52 | 0.63 | 0.80 |
| Current Ratio | 1.39 | 1.58 | 1.15 | 0.94 | 1.05 | 1.23 |
| Return on Equity (ROE) | 86.02% | 101.16% | 84.26% | 48.43% | 62.67% | 74.52% |
| Return on Assets (ROA) | 21.06% | 19.41% | 14.92% | 11.37% | 11.00% | 10.84% |
| Return on Invested Capital (ROIC) | 42.68% | 43.74% | 35.54% | 27.99% | 33.88% | 36.42% |
| Return on Capital Employed (ROCE) | 43.80% | 38.40% | 33.90% | 28.10% | 26.70% | 24.50% |
| Earnings Yield | 2.18% | 2.15% | 1.52% | 1.00% | 1.80% | 2.23% |
| FCF Yield | 1.56% | 0.93% | 0.54% | 0.15% | 1.65% | 2.42% |
| Dividend Yield | 0.49% | 0.56% | 0.67% | 0.78% | 1.01% | 1.23% |
| Payout Ratio | 22.46% | 26.09% | 44.19% | 77.65% | 56.62% | 55.30% |
| Buyback Yield / Dilution | 0.58% | 0.53% | -0.09% | 0.15% | 0.78% | 0.09% |
| Total Shareholder Return | 1.07% | 1.09% | 0.58% | 0.92% | 1.79% | 1.32% |