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Screener / SEC EDGAR /CIK 0000059478 /10-K filed Feb 12, 2026, compared with Feb 19, 2025 /Numbers from the XBRL of the 10-Ks
Health care peers:
HCAMRKLLYABBVJNJPFE
NYSE Health care · Pharmaceuticals

Eli Lilly LLY

LLY quote by TradingView

Eli Lilly and Company (referred to as the company, Lilly, we, or us) was incorporated in 1901 in Indiana to succeed to the drug manufacturing business founded in Indianapolis, Indiana, in 1876 by Colonel Eli Lilly. 10-K, Item 1

Employees
50,000
Headquarters
Indianapolis, IN
CEO
David A. Ricks
Next results
around Feb 3, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $65.2B through the costs to a net profit of $20.6B · income statement of the 10-K

32% net margin
Revenue to Gross profit: $54.1BRevenue to Cost of revenue: $11.1BGross profit to Net profit: $20.6BGross profit to Costs, tax, other: $33.5B Revenue: $65.2B REVENUE $65.2B +45% Y/Y Gross profit: $54.1B · 83% margin GROSS PROFIT $54.1B 83% margin Cost of revenue: $11.1B · 17% of revenue COST OF REVENUE $11.1B 17% of revenue Net profit: $20.6B · 32% margin NET PROFIT $20.6B 32% margin · +95% Y/Y Costs, tax, other: $33.5B · 51% of revenue COSTS, TAX, OTHER $33.5B 51% of revenue
Gross profit $54.1B 83% margin
Net profit $20.6B 32% margin · +95% Y/Y
The full income statement, year by year

LLY among Health care peers

Six ratios from the latest 10-K. Each corner is the share of 59 peers the company is above, not a score.

Compare
Revenue growth: 44.7%, above 100% of 59 peers (their median 7.1%) REVENUE GROWTH 44.7% · above 100% Gross margin: 83.6%, above 92% of 50 peers (their median 64.2%) GROSS MARGIN 83.6% · above 92% Net margin: 31.9%, above 100% of 59 peers (their median 9.5%) NET MARGIN 31.9% · above 100%
LLY Peer median Below the median

What changed

9 new risk paragraphs and 3 accounting facts worth reading about. 10-K filed Feb 12, 2026 against Feb 19, 2025.

Risk factors
9 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +61.4% vs revenue +44.7% (+16.7 pts)
10-K · XBRL
Cash from operations lower than net income
Cash from operations $16.8B vs net income $20.6B (FY ending Dec 31, 2025)
10-K · XBRL
Inventory growing faster than revenue
Inventory +81.1% vs revenue +44.7% (+36.4 pts)
10-K · XBRL
Accounting checks
8 other checks clear, 3 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
7 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

3facts worth reading about the other 8 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +61.4% vs revenue +44.7% (+16.7 pts)
  • Cash from operations lower than net income
    Cash from operations $16.8B vs net income $20.6B (FY ending Dec 31, 2025)
  • Inventory growing faster than revenue
    Inventory +81.1% vs revenue +44.7% (+36.4 pts)
  • Same auditor in both 10-Ks: Ernst & Young LLP
7 more checks with nothing to note
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • The same matters as last year: Medicaid, Managed Care, and Medicare sales rebate accruals
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

9 paragraphs in Risk Factors that were not in the 10-K filed Feb 19, 2025. Quoted as filed.

All 9 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    In November 2025, we announced preliminary voluntary agreements with the U.S. government in which, among other arrangements, we agreed to implement measures to lower Medicaid and certain other drug prices for U.S. patients and to launch new medicines with a more balanced pricing approach across developed nations. We face risks and…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    Cyber-attacks are growing in their frequency, sophistication, and intensity, and are becoming increasingly difficult to detect, mitigate, or prevent. Cyber-attacks come in many forms, including the deployment of harmful malware, exploitation of vulnerabilities (including those of third-party software or systems), denial-of-service…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    We are continuing the significant expansion of our manufacturing capabilities and substantial investment in long-term supply agreements to fortify our supply and support our ability to meet anticipated demand for our products. Pharmaceutical manufacturing is complex and highly regulated. Supply chain difficulties, disruptions or…
  4. Item 1A · new paragraph · not in the 10-K filed Feb 19, 2025 10-K, ITEM 1A
    External environmental factors have also caused, and in the future may cause, delays in, and/or increase costs related to, distribution of our medicines, the construction or other acquisition of additional manufacturing capacity, procurement activity, and supplier or contract manufacturer arrangements. Relevant external environmental…

New risk paragraphs, against peers

Latest 10-K of each, Health care companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$28.5B$34.1B$45.0B$65.2B
Net income$6.2B$5.2B$10.6B$20.6B
Operating cash flow$7.6B$4.2B$8.8B$16.8B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$65.2B ▲ 44.7% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

7 filings in the last 30 days · SEC EDGAR

All filings
2 more

About the company

Eli Lilly, Indianapolis, IN · from the 10-K filed Feb 12, 2026

Eli Lilly and Company (referred to as the company, Lilly, we, or us) was incorporated in 1901 in Indiana to succeed to the drug manufacturing business founded in Indianapolis, Indiana, in 1876 by Colonel Eli Lilly. We discover, develop, manufacture, and market products in a single business segment - human pharmaceutical products. Our purpose is to unite caring with discovery to create medicines that make life better for people around the world. Our long-term success depends on our ability to continually discover or acquire, develop, and commercialize innovative medicines.

Headquarters
Indianapolis, IN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 29, 2026
Incorporated in
IN

Employees, at the top of the page: "At the end of 2025, we employed approximately 50,000 people, including approximately 27,000 employees outside the U" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 12, 2026 (open at SEC), compared with the 10-K filed Feb 19, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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