FirmAtlas
Company handbook · LLY · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
LLY · CIK 59478 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026
ELI LILLY AND COMPANY
$1,257.03
+5.42 (+0.43%)
Close, Oct 16, 2026 · 52-week $784–1,293
Eli Lilly makes prescription medicines: diabetes and obesity drugs (Mounjaro, Zepbound, Trulicity), cancer drugs (Verzenio), immune disease drugs (Taltz), and the Alzheimer's drug Kisunla, among others.
Business
- RegionsUS 67% · Europe 18% · Japan 3% · China 3% · Other 9% (FY25)
- CustomersPatients, through their doctors; sold mostly to drug wholesalers and paid for by insurers, pharmacy benefit managers and governments. Some drugs are also sold directly to patients through LillyDirect
- Cash useFY24–FY25: capex $12.9B · dividends $10.1B · buybacks $6.6B
Reinvested 50% of operating cash flow · returned 131% of free cash flow
Last fiscal year
ELI LILLY AND COMPANY reported revenue of $65.2B for the year ended Dec 31, 2025 (FY25), up 44.7% from FY24. Net income was $20.6B, operating cash flow $16.8B and free cash flow $9.0B. Source: 10-K filed Feb 12, 2026.
Market cap
$1.13T
P/E
42.3
EV/EBITDA
36.7x
P/B
33.4
Div yield
0.53%
ROIC
45.5%
Revenue 1Y
44.7%/yr
EPS 1Y
96.0%/yr
Shares 1Y
−0.5%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEODavid A. Ricks
HQIndianapolis, IN
AuditorErnst & Young LLP
Employees50,000
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
31.8%
39.5%
26.8%
53.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$29.6B deployed
Capex
$12.9B
43.6%
Dividends
$10.1B
34.0%
Buybacks
$6.6B
22.3%
Operating cash flow over the period: $25.6B. Total debt changed by +$7.1B. R&D of $24.3B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
45,043
65,179+44.7%
79,665
YoY
+44.7%
Gross profit
36,625
54,127+47.8%
66,441
Gross margin
81.3%
83.0%+1.7 pp
—
Operating income
17,040
29,696+74.3%
—
Operating margin
37.8%
45.6%+7.7 pp
—
EBITDA
18,807
31,693+68.5%
—
EBITDA margin
41.8%
48.6%+6.9 pp
—
Interest expense
781
895+14.6%
—
Interest coverage
24.08x
35.41x+11.33x
—
Net income
10,590
20,640+94.9%
26,711
YoY
+94.9%
Net margin
23.5%
31.7%+8.2 pp
—
EPS (diluted, $)
11.71
22.95+96.0%
29.79
YoY
+96.0%
Balance sheet
Total assets
78,715
112,476+42.9%
142,283
Cash & short-term investments
3,423
7,268+112.3%
—
Accounts receivable
11,006
17,760+61.4%
—
Inventory
7,589
13,744+81.1%
—
Net PP&E
17,102
24,675+44.3%
—
Other assets
39,595
49,029+23.8%
—
Total liabilities
64,443
85,941+33.4%
108,404
Accounts payable
3,229
5,379+66.6%
—
Total debt
33,812
40,868+20.9%
47,858
Other liabilities
27,402
39,694+44.9%
—
Shareholders’ equity
14,272
26,535+85.9%
33,879
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
8,818
16,813+90.7%
28,083
Net income
10,590
20,640+94.9%
—
Depreciation & amortization
1,767
1,997+13.0%
—
Stock-based compensation
646
626−3.1%
—
Working capital & other
(4,185)
(6,450)n/m
—
Cash from investing
(9,302)
(10,972)n/m
—
Capex
(5,058)
(7,841)n/m
—
Investments bought
(98)
—
—
Investments sold / matured
149
—
—
Other investing
(4,294)
(3,131)n/m
—
Cash from financing
1,230
(2,213)−279.9%
—
Debt raised
11,417
13,167+15.3%
—
Debt repaid
(664)
(778)n/m
—
Dividends
(4,680)
(5,384)n/m
—
Buybacks
(2,500)
(4,108)n/m
—
Other financing
(2,343)
(5,110)n/m
—
Net change in cash
449
4,000+790.9%
—
Free cash flow (OCF − capex)
3,760
8,972+138.6%
—
Where the cash went
Operating cash flow
8,818
16,813+90.7%
28,083
Reinvested in the business
5,058
7,841+55.0%
—
% of operating cash flow
57.4%
46.6%
Capex
5,058
7,841+55.0%
—
R&D (memo, already in costs)
10,991
13,337+21.3%
—
Free cash flow
3,760
8,972+138.6%
—
YoY
+138.6%
Returned to shareholders
7,180
9,492+32.2%
—
% of free cash flow
191.0%
105.8%
Dividends
4,680
5,384+15.0%
—
Buybacks
2,500
4,108+64.3%
—
Change in total debt
—
7,056
—
Cash left over
—
6,536
—
FCF conversion (FCF ÷ net income)
35.5%
43.5%+8.0 pp
—
Owner earnings
—
4,037
—
Owner earnings margin
—
6.2%
—
Buyback yield
0.4%
0.4%+0.1 pp
—
Returns & ratios
ROIC (all capital)
31.9%
45.5%+13.6 pp
—
ROIC (operating)
43.8%
57.2%+13.4 pp
—
Net debt / EBITDA
1.62x
1.06x−0.56x
—
Debt / equity
2.37x
1.54x−0.83x
—
Cash conversion cycle (days)
278
376+97 d
—
ROE
74.2%
77.8%+3.6 pp
—
ROA
13.5%
18.4%+4.9 pp
—
ROCE
33.9%
38.4%+4.6 pp
—
NOPAT
14,231
23,821+67.4%
—
Invested capital (operating)
32,468
50,800+56.5%
—
Invested capital (all)
44,661
60,135+34.6%
—
Reinvestment rate
—
77.0%
—
Debtor days
89
99+10 d
—
Inventory days
329
454+125 d
—
Days payable
140
178+38 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
17,601
19,291
19,799
22,974
vs year-ago quarter
Gross profit
14,592
15,920
16,222
19,706
Gross margin
82.9%
82.5%
81.9%
85.8%
Net income
5,582
6,638
7,396
7,095
vs year-ago quarter
Net margin
31.7%
34.4%
37.4%
30.9%
EPS (diluted, $)
6.21
7.38
8.26
7.94
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
114,935
112,476
116,576
142,283
Cash & equivalents
9,792
7,268
5,282
8,950
Total debt
40,874
40,868
39,370
47,858
Shareholders’ equity
23,793
26,535
31,198
33,879
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
8,835
3,225
5,333
10,690