A Business at a Glance
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ELI LILLY & Co
LLY
$1.1T
Mkt Cap
$1,196.03
+0.86%
ELI LILLY & Co (LLY) has a current P/E ratio of 52.1, compared to its historical median P/E of 43.4. The stock is currently considered Fair based on its historical valuation range.
ELI LILLY & Co (LLY) has a 5-year average return on invested capital (ROIC) of 27.3%. This indicates strong capital allocation and a potential competitive advantage.
ELI LILLY & Co (LLY) has a market capitalization of $1.1T. It is classified as a mega-cap stock.
Yes, ELI LILLY & Co (LLY) pays a dividend with a trailing twelve-month yield of 0.52%. The company also returns capital through share buybacks, with a buyback yield of 0.49%.
Based on historical P/E analysis, ELI LILLY & Co (LLY) appears fair. The current P/E of 52.1 is 20% above its historical median of 43.4. The estimated fair value CAGR (P/E method) is 11.9%.
ELI LILLY & Co (LLY) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
ELI LILLY & Co (LLY) reported annual revenue of $65.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products across a single business segment, with a portfolio spanning cardiometabolic health (including diabetes and obesity treatments such as Mounjaro, Zepbound, Humalog, and Jardiance), oncology (Cyramza, Erbitux, Verzenio, Jaypirca, Retevmo), immunology (Taltz, Olumiant, Omvoh, Ebglyss), and neuroscience (Kisunla for Alzheimer's disease, Emgality for migraine). The company earns revenue through a combination of branded pharmaceutical sales, with products marketed globally across approximately 90 countries through a mix of direct sales organizations, third-party distributors, and digital platforms including LillyDirect, its direct-to-patient digital health care platform. In the U.S., most products are distributed through three major wholesale distributors (McKesson, Cencora, and Cardinal Health), while internationally the company maintains its own sales organizations in many countries and utilizes third-party commercial arrangements. The business model relies on continuous innovation and product development to maintain competitive positioning, with competitive success dependent on effectiveness, safety, regulatory approvals, formulary placement, payer coverage, and demonstrated cost-effectiveness. Key competitive challenges include generic and biosimilar competition, with generic manufacturers able to price significantly lower than branded products following loss of market exclusivity, and payers encouraging generic substitution; the company's anti-obesity medicines represent a significant portion of revenues and face barriers to reimbursable patient access in certain markets, including default payer coverage restrictions in the U.S. and limited coverage in international markets. Manufacturing and distribution facilities are located in the United States (including Puerto Rico), Europe, and Asia, supporting a global customer base that includes healthcare providers, wholesalers, pharmacy benefit managers, insurers, managed care organizations, hospitals, and retail pharmacies.
【Strong cardiometabolic momentum continuing】 Management expects continued strong performance from Mounjaro and Zepbound globally, with patient activation and market expansion driving growth, supported by full-scale consumer promotion including direct-to-consumer television advertising beginning in Q3 2026. The company anticipates new Medicare access to obesity medicines will become effective no later than July 1, 2026, with an expected bolus of 10%-20% volume movement into the Medicare space, though this will build over time; Medicaid access is expected to decline in 2026 due to key states removing obesity coverage, but new states are anticipated to add coverage in 2027. Orforglipron, the company's oral GLP-1 monotherapy, is expected to launch in the U.S. during Q2 2026 for chronic weight management and is anticipated to expand the addressable market rather than cannibalize existing injectable products, with launches in most international markets expected during 2027. The company expects to deliver industry-leading volume growth driven by key products in 2026, partially offset by pricing headwinds in the low to mid-teens, and plans to continue active business development to complement its internal portfolio while maintaining discipline to create shareholder value. Across the pipeline, the company expects results from multiple phase III trials in 2026, including additional retatrutide studies, regulatory submissions for new indications, and continued advancement of programs in oncology, immunology, and neuroscience, with R&D expenses expected to scale up to support these initiatives.
| Metric | Target | Period |
|---|---|---|
| Revenue | $82 billion to $85 billion | FY2026 |
| Non-GAAP performance margin | 47% to 48.5% | FY2026 |
| Non-GAAP earnings per share | $35.50 to $37 | FY2026 |
Revenue (FY2026): “We have increased the top and the bottom end of the revenue range by $2 billion and now expect full year revenue to be between $82 billion and $85 billion.”
Non-GAAP performance margin (FY2026): “We expect our non-GAAP performance margin to be between 47% and 48.5%, driven by higher revenue.”
Non-GAAP earnings per share (FY2026): “We now expect non-GAAP earnings per share of $35.50 to $37, an increase of $2 to the top and bottom of the non-GAAP earnings per share.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 72.2B | 65.2B | 45.0B | 34.1B | 28.5B | 28.3B |
| Net Income | 25.3B | 20.6B | 10.6B | 5.2B | 6.2B | 5.6B |
| EPS | $27.77 | $22.95 | $11.71 | $5.80 | $6.90 | $6.12 |
| Free Cash Flow | 11.8B | 9.0B | 3.8B | 792M | 5.7B | 6.1B |
| ROIC | 0.0% | 38.2% | 25.2% | 16.9% | 27.2% | 29.1% |
| Gross Margin | - | 83.0% | 77.3% | 79.2% | 76.8% | 74.2% |
| Debt/Equity | 1.45 | 1.65 | 2.74 | 3.02 | 1.67 | 1.88 |
| Dividends/Share | $6.23 | $6.23 | $5.40 | $4.69 | $4.07 | $3.53 |
| Operating Income | 0 | 26.6B | 13.5B | 7.0B | 7.1B | 6.5B |
| Operating Margin | 0.0% | 40.9% | 29.9% | 20.6% | 25.0% | 22.9% |
| ROE | 81.0% | 101.2% | 84.6% | 48.9% | 63.6% | 76.4% |
| Shares Outstanding | 896M | 899M | 904M | 903M | 905M | 912M |
ELI LILLY & Co passes 6 of 9 quality checks, suggesting mixed fundamentals.
ELI LILLY & Co trades at 52.1x trailing earnings, compared to its 15-year median P/E of 43.4x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 125.8x vs a median of 28.1x. The company's 5-year average ROIC is 27.3% with a gross margin of 78.1%. Total shareholder yield (dividends + buybacks) is 1.0%. At current prices, the estimated annualized return to fair value is -12.0%.
ELI LILLY & Co (LLY) has a net profit margin of 31.7%. This is a strong margin indicating high profitability.
ELI LILLY & Co (LLY) generated $9.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ELI LILLY & Co (LLY) has a debt-to-equity ratio of 1.65. This indicates higher leverage, which may increase financial risk.
ELI LILLY & Co (LLY) reported earnings per share (EPS) of $22.95 in its most recent fiscal year.
ELI LILLY & Co (LLY) has a return on equity (ROE) of 101.2%. This indicates the company generates strong returns for shareholders.
ELI LILLY & Co (LLY) has a 5-year average gross margin of 78.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 19 years of financial data for ELI LILLY & Co (LLY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ELI LILLY & Co (LLY) has a book value per share of $29.50, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued strong performance from Mounjaro and Zepbound globally, with patient activation and market expansion driving growth, supported by full-scale consumer promotion including direct-to-consumer television advertising beginning in Q3 2026. The company anticipates new Medicare access to obesity medicines will become effective no later than July 1, 2026, with an expected bolus of 10%-20% volume movement into the Medicare space, though this will build over time; Medicaid access is expected to decline in 2026 due to key states removing obesity coverage, but new states are anticipated to add coverage in 2027. Orforglipron, the company's oral GLP-1 monotherapy, is expected to launch in the U.S. during Q2 2026 for chronic weight management and is anticipated to expand the addressable market rather than cannibalize existing injectable products, with launches in most international markets expected during 2027. The company expects to deliver industry-leading volume growth driven by key products in 2026, partially offset by pricing headwinds in the low to mid-teens, and plans to continue active business development to complement its internal portfolio while maintaining discipline to create shareholder value. Across the pipeline, the company expects results from multiple phase III trials in 2026, including additional retatrutide studies, regulatory submissions for new indications, and continued advancement of programs in oncology, immunology, and neuroscience, with R&D expenses expected to scale up to support these initiatives.
Based on recent SEC filings and earnings calls, ELI LILLY & Co (LLY) has provided the following forward guidance: Revenue: $82 billion to $85 billion (FY2026); Non-GAAP performance margin: 47% to 48.5% (FY2026); Non-GAAP earnings per share: $35.50 to $37 (FY2026).