LLYEli Lilly
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
All key numbers (38) From EDGAR
| EPS (ttm) | 30.81 | Sales (ttm) | 86.5B | Net income (ttm) | 27.6B | Sales growth | +44.7% | EPS growth | +96.0% | Sales Q/Q | +38.6% |
| Free cash flow | - | Gross margin | 83.6% | Oper. margin | - | Net margin | 31.9% | FCF margin | - | ROE | 68.5% |
| ROA | 18.6% | R&D / sales | 20.5% | Dividend | 6.23 | Debt/Eq | 1.23 | Curr. ratio | 1.39 | Cash | 4.9B |
| Op. cash flow (ttm) | 30.6B | Net debt | 44.6B | Quick ratio | 1.10 | Payout ratio | 27.1% | Tax rate | 19.8% | Stock pay / sales | 1.0% |
| Shares out. | 940.7M | Shares Y/Y | -0.5% | Book / share | 42.81 | Cash / share | 5.19 | Sales / share | 91.91 | Asset turnover | 0.58 |
| Inventory turns | 0.80 | Days sales out. | 99 | Sales 3Y CAGR | +31.7% | Sales 5Y CAGR | +21.6% | EPS 3Y CAGR | +49.3% | EPS 5Y CAGR | +27.6% |
| Employees | 50,000 | Sales / employee | 1.7M |
Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.
Changes in the numbers
FY2025 against FY2024-
Revenue growth sped up to +44.7%+32.0% → +44.7% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
LLY against Health care peers
Ten years, side by side → · All 60 →Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How
Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.
| Company | Revenue (ttm) | Sales growth | Gross margin | Net margin | ROE | FCF margin | Debt / equity |
|---|---|---|---|---|---|---|---|
| LLY Eli Lilly | $86.5B | +44.7% | 83.6% | 31.9% | 68.5% | - | 1.23 |
| JNJ Johnson & Johnson | $99.3B | +6.0% | 67.6% | 16.2% | 19.7% | 20.7% | 0.55 |
| HCA HCA Healthcare | $78.7B | +7.1% | - | 8.6% | - | 7.6% | - |
| MRK Merck & Co. | $67.4B | +1.3% | 71.8% | 3.6% | 5.5% | 21.9% | 1.20 |
| ABBV AbbVie | $66.0B | +8.6% | 73.7% | 15.7% | - | 28.6% | - |
| PFE Pfizer | $63.6B | -1.6% | 73.4% | 6.3% | 4.5% | 18.5% | 0.70 |
From $28.3B of sales to $5.6B of profit
FY2021, from the 10-K income statementSwipe sideways for the whole flow →
From $28.5B of sales to $6.2B of profit
FY2022, from the 10-K income statementSwipe sideways for the whole flow →
From $34.1B of sales to $5.2B of profit
FY2023, from the 10-K income statementSwipe sideways for the whole flow →
From $45.0B of sales to $10.6B of profit
FY2024, from the 10-K income statementSwipe sideways for the whole flow →
From $65.2B of sales to $20.6B of profit
FY2025, from the 10-K income statementSwipe sideways for the whole flow →
Where each $100 of sales went
- Cost of revenue
- Costs, tax, other
- Net profit
Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →
Profitability
2 of 3- ✓Net margin above the peer median31.9% vs 9.6%
- ✓Return on equity above 15%68.5%
- !A profit in 9 of 10 years
Balance sheet
1 of 2- !Debt larger than equityDebt / equity 1.23 on the latest balance sheet (peer median 0.66)
- ✓Current assets cover current liabilitiesCurrent ratio 1.39
Cash and shareholders
2 of 3- ✓Share count down over 5 years−1.4%
- ✓Dividend per share up over 5 years$3.07 → $6.23
- !Cash from operations below net income$16.8B vs $20.6B
Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.
What the debt is made of, and when it is due
balance sheet of Sep 30, 2026The debt note's own lines, 2025-12-31
Fixed rate $0Floating $750.0M Not stated $71.6B
| Line, as the company names it | Kind | Rate | Fixed or floating | Amount |
|---|---|---|---|---|
| Notes due 2031 - 2040 | Notes and bonds | 0.50–6.77% | not stated | $11.6B |
| Notes due 2051 - 2060 | Notes and bonds | 1.12–5.55% | not stated | $8.3B |
| August 2025 Issuance Date Debt | Notes and bonds | 4.00–5.65% | not stated | $6.8B |
| February 2024 Issuance Date Debt | Notes and bonds | 4.50–5.10% | not stated | $6.5B |
| February 2025 Issuance Date Debt | Notes and bonds | 4.55–5.60% | not stated | $6.5B |
| Notes due 2061 - 2070 | Notes and bonds | 1.38–5.65% | not stated | $5.8B |
| August 2024 Issuance Date Debt | Notes and bonds | 4.15–5.20% | not stated | $5.0B |
| Notes due 2041 - 2050 | Notes and bonds | 0.97–4.65% | not stated | $4.5B |
| February 2023 Issuance Date Debt | Notes and bonds | 4.70–5.00% | not stated | $4.0B |
| Notes due 2028 | Notes and bonds | 0.45–4.55% | not stated | $3.3B |
| Notes due 2029 | Notes and bonds | 0.42–4.50% | not stated | $3.1B |
| Notes due 2027 | Notes and bonds | 3.10–5.50% | not stated | $2.5B |
| Notes due 2030 | Notes and bonds | 2.12–4.75% | not stated | $2.1B |
| Notes due 2026 | Notes and bonds | 1.62–5.00% | not stated | $1.6B |
| Floating-Rate Notes | Notes and bonds | – | floating | $750.0M |
All 15 lines
From the debt note in the 10-K's XBRL (0000059478-26-000013), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.
Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →
Revenue and net income, FY2016 to FY2025
Revenue 65.2B Net income 20.6BFrom XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →
LLY's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.
Revenue by product or service
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| Collaboration and other revenue | 4.2B | 6.5% | -1.7% |
| Jardiance | 3.4B | 5.3% | +2.7% |
10-K 0000059478-26-000013, segment and revenue notes (XBRL).
Revenue by region
year to Dec 31, 2025| Revenue | Share | vs year before | |
|---|---|---|---|
| U.S. | 43.5B | 66.7% | +43.1% |
| Outside U.S. | 21.7B | 33.3% | +47.9% |
| Europe | 11.6B | 17.7% | +67.0% |
| Rest of world | 6.1B | 9.3% | +41.8% |
| Japan | 2.1B | 3.3% | +17.5% |
| China | 2.0B | 3.0% | +17.5% |
10-K 0000059478-26-000013, segment and revenue notes (XBRL).
Income statement
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 21.2B | 20.0B | 21.5B | 22.3B | 24.5B | 28.3B | 28.5B | 34.1B | 45.0B | 65.2B |
| Cost of revenue | 5.7B | 4.4B | 4.7B | 4.7B | 5.5B | 7.3B | 6.6B | 7.1B | 8.4B | 11.1B |
| R&D | 5.3B | 5.1B | 5.1B | 5.6B | 6.0B | 6.9B | 7.2B | 9.3B | 11.0B | 13.3B |
| SG&A | 6.5B | 6.0B | 6.0B | 6.2B | 6.1B | 6.4B | 6.4B | 7.4B | 8.6B | 11.1B |
| Interest expense | 185.2M | 225.0M | 242.5M | 400.6M | 359.6M | 339.8M | 331.6M | 485.9M | 781.0M | 895.0M |
| Pretax income | 3.4B | 2.3B | 3.7B | 5.3B | 7.2B | 6.2B | 6.8B | 6.6B | 12.7B | 25.7B |
| Income tax | 636.4M | 2.4B | 529.5M | 628.0M | 1.0B | 573.8M | 561.6M | 1.3B | 2.1B | 5.1B |
| Net income | 2.7B | -204.1M | 3.2B | 8.3B | 6.2B | 5.6B | 6.2B | 5.2B | 10.6B | 20.6B |
| EPS (diluted) | 2.58 | -0.19 | 3.13 | 8.89 | 6.79 | 6.12 | 6.90 | 5.80 | 11.71 | 22.95 |
| Diluted shares | 1.1B | 1.1B | 1.0B | 935.7M | 912.5M | 911.7M | 904.6M | 903.3M | 904.1M | 899.3M |
| Depreciation & amortization | 1.5B | 1.6B | 1.6B | 1.2B | 1.3B | 1.5B | 1.5B | 1.5B | 1.8B | 2.0B |
| Net margin | 12.9% | -1.0% | 15.0% | 37.3% | 25.2% | 19.7% | 21.9% | 15.4% | 23.5% | 31.7% |
| Revenue growth | - | -5.9% | +7.6% | +3.8% | +9.9% | +15.4% | +0.8% | +19.6% | +32.0% | +44.7% |
| EPS growth | - | -107% | - | +184% | -23.6% | -9.9% | +12.7% | -15.9% | +102% | +96.0% |
Balance sheet
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash | 4.6B | 6.2B | 7.3B | 2.3B | 3.7B | 3.8B | 2.1B | 2.8B | 3.3B | 7.3B |
| Short-term investments | 1.5B | 1.5B | 88.2M | 101.0M | 24.2M | 90.1M | 144.8M | 109.1M | 154.8M | - |
| Receivables | 4.0B | 4.0B | 4.6B | 4.5B | 5.9B | 6.7B | 6.9B | 9.1B | 11.0B | 17.8B |
| Inventory | 3.6B | 3.4B | 3.1B | 3.2B | 4.0B | 3.9B | 4.3B | 5.8B | 7.6B | 13.7B |
| Current assets | 15.1B | 19.2B | 20.5B | 13.7B | 17.5B | 18.5B | 18.0B | 25.7B | 32.7B | 55.6B |
| Property & equipment | 8.3B | 7.9B | 8.0B | 7.9B | 8.7B | 9.0B | 10.1B | 12.9B | 17.1B | 24.7B |
| Goodwill | 4.0B | 1.4B | 1.4B | 3.7B | 3.8B | 3.9B | 4.1B | 4.9B | 5.8B | 5.9B |
| Total assets | 38.8B | 45.0B | 43.9B | 39.3B | 46.6B | 48.8B | 49.5B | 64.0B | 78.7B | 112.5B |
| Accounts payable | 1.3B | 1.2B | 1.2B | 1.4B | 1.6B | 1.7B | 1.9B | 2.6B | 3.2B | 5.4B |
| Current liabilities | 11.0B | 14.5B | 11.9B | 11.8B | 12.5B | 15.1B | 17.1B | 27.3B | 28.4B | 35.2B |
| Total debt | 10.3B | 12.6B | 9.7B | 15.1B | 16.3B | 16.7B | 16.3B | 25.3B | 33.8B | 40.9B |
| Shareholders' equity | 14.0B | 11.6B | 9.8B | 2.6B | 5.6B | 9.0B | 10.6B | 10.8B | 14.3B | 26.5B |
| Retained earnings | 16.0B | 13.9B | 11.4B | 4.9B | 7.8B | 9.0B | 10.0B | 10.3B | 13.5B | 24.5B |
Cash flow
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 4.9B | 5.6B | 5.5B | 4.8B | 6.5B | 7.4B | 7.6B | 4.2B | 8.8B | 16.8B |
| Stock-based pay (added back) | 255.3M | 281.3M | 279.5M | 312.4M | 308.1M | 342.8M | 371.1M | 629.0M | 646.0M | 626.0M |
| Dividends paid | 2.2B | 2.2B | 2.3B | 2.4B | 2.7B | 3.1B | 3.5B | 4.1B | 4.7B | 5.4B |
| Buybacks | 600.1M | 299.8M | 4.2B | 4.4B | 500.0M | 1.2B | 1.5B | 750.0M | 2.5B | 4.1B |
| Acquisitions | 45.0M | 882.1M | 0 | 6.9B | 849.3M | 747.4M | 327.2M | - | - | - |
| Debt raised | 1.2B | 2.2B | 2.5B | 6.6B | 2.1B | 2.4B | 0 | 4.0B | 11.4B | 13.2B |
| Debt repaid | 200K | 630.6M | 1.0B | 2.9B | 276.5M | 1.9B | 1.6B | 0 | 664.0M | 778.0M |
| Investing cash flow | -3.1B | -3.8B | 1.9B | -8.1B | -2.3B | -2.9B | -3.8B | -7.2B | -9.3B | -11.0B |
| Financing cash flow | -559.8M | 142.6M | -5.9B | -2.3B | -3.1B | -4.1B | -5.4B | 3.5B | 1.2B | -2.2B |
| Dividend per share | 2.05 | 2.12 | 2.33 | 2.68 | 3.07 | 3.53 | 4.07 | 4.69 | 5.40 | 6.23 |
Stock-based pay and leases
From EDGAR| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based pay (expense) | 255.3M | 281.3M | 279.5M | 312.4M | 308.1M | 342.8M | 371.1M | 629.0M | 646.0M | 626.0M |
| Stock-based pay / revenue | 1.2% | 1.4% | 1.3% | 1.4% | 1.3% | 1.2% | 1.3% | 1.8% | 1.4% | 1.0% |
| Operating lease cost | - | - | - | 172.8M | 154.6M | 159.4M | 148.8M | 171.2M | 209.6M | - |
| Operating lease cash paid | - | - | - | 153.6M | 160.9M | 156.7M | 149.7M | 171.0M | 201.8M | - |
| Right-of-use assets | - | - | 0 | 532.1M | - | - | - | 1.0B | 1.1B | 1.3B |
| Operating lease liabilities | - | - | 595.0M | 608.4M | 663.7M | 685.7M | 728.2M | 1.1B | 1.1B | 1.4B |
From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.
Work on LLY in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/LLY/export.csv") into a cell.