LLY

MKT CAP:$835B

Eli Lilly and Company

Market Cap

$835B

Healthcare·Drug Manufacturers - General·🇺🇸 United States·NYSE

Healthcare·Drug Mfg.·🇺🇸·NYSE

Stock Price

$881.06-$199.30 (-18.45%)

Apr 24, 2026

Company Details

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispr...

CEO

David A. Ricks

IPO Date

Jun 1, 1972

Website

www.lilly.com

Key Metrics TTM

Revenue

$65.2B

+44.7% YoY

Net Income

$20.6B

EPS (Diluted)

$22.95

Free Cash Flow

$9.0B

Revenue / Share

$72.58

Gross Margin

83.8%

Operating Margin

45.6%

Net Margin

31.7%

FCF Margin

13.8%

P/S

12.8x

P/E

40.5x

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

FY 2025

Feb 12, 2026

$65.2B+44.7%EPS $22.95

Q4 2025

Feb 12, 2026

$19.3B+42.6%EPS $7.39

Q3 2025

Oct 30, 2025

$17.6B+53.9%EPS $6.21

Q2 2025

Aug 7, 2025

$15.6B+37.6%EPS $6.29

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$7.8B	$5.7B	$2.7B
Q2 22	$6.5B	$5.1B	$1.7B
Q3 22	$6.9B	$5.4B	$2.0B
Q4 22	$7.3B	$5.8B	$2.2B
Q1 23	$7.0B	$5.3B	$1.7B
Q2 23	$8.3B	$6.5B	$2.3B
Q3 23	$9.5B	$7.6B	$3.5B
Q4 23	$9.4B	$7.6B	$3.2B
Q1 24	$8.8B	$7.1B	$2.7B
Q2 24	$11.3B	$9.1B	$4.4B
Q3 24	$11.4B	$9.3B	$4.5B
Q4 24	$13.5B	$11.1B	$5.8B
Q1 25	$12.7B	$10.5B	$5.4B
Q2 25	$15.6B	$13.1B	$7.1B
Q3 25	$17.6B	$14.6B	$8.4B
Q4 25	$19.3B	$16.4B	$8.8B

Valuation

Quarter	P/S	P/E
Q1 22	9.0x	43.0x
Q2 22	10.1x	51.8x
Q3 22	10.4x	50.6x
Q4 22	11.0x	50.5x
Q1 23	11.4x	55.5x
Q2 23	14.1x	63.9x
Q3 23	15.2x	97.7x
Q4 23	16.5x	107.6x
Q1 24	19.1x	111.6x
Q2 24	21.2x	112.2x
Q3 24	19.5x	95.3x
Q4 24	15.5x	65.8x
Q1 25	15.1x	66.8x
Q2 25	13.2x	50.8x
Q3 25	11.0x	35.4x
Q4 25	14.9x	46.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2.5B	$1.6B
Q2 22	$1.2B	$370M
Q3 22	$2.2B	$1.6B
Q4 22	$1.6B	$1.0B
Q1 23	$1.7B	$827M
Q2 23	$632M	-$204M
Q3 23	$2.2B	-$1.8B
Q4 23	-$312M	-$2.0B
Q1 24	$1.2B	$180M
Q2 24	$1.5B	$63M
Q3 24	$3.7B	-$459M
Q4 24	$2.5B	$727M
Q1 25	$1.7B	-$1.6B
Q2 25	$3.1B	$1.3B
Q3 25	$8.8B	$8.6B
Q4 25	$3.2B	$678M

Capital Expenditures

Quarter	CapEx
Q1 22	$881M
Q2 22	$814M
Q3 22	$652M
Q4 22	$556M
Q1 23	$904M
Q2 23	$836M
Q3 23	$4.0B
Q4 23	$1.7B
Q1 24	$986M
Q2 24	$1.4B
Q3 24	$4.2B
Q4 24	$1.7B
Q1 25	$3.3B
Q2 25	$1.8B
Q3 25	$224M
Q4 25	$2.5B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+14.8%	+1.9%
Q2 22	-3.7%	-9.2%
Q3 22	+2.5%	+5.7%
Q4 22	-8.7%	-7.9%
Q1 23	-10.9%	+1.9%
Q2 23	+28.1%	+25.9%
Q3 23	+36.8%	+21.5%
Q4 23	+28.1%	+20.9%
Q1 24	+26.0%	+15.0%
Q2 24	+36.0%	+15.2%
Q3 24	+20.4%	+15.6%
Q4 24	+44.7%	+25.6%
Q1 25	+45.2%	+21.3%
Q2 25	+37.6%	+22.5%
Q3 25	+53.9%	+33.8%
Q4 25	+42.6%	+36.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$101M	1.3%
Q2 22	$92M	1.4%
Q3 22	$85M	1.2%
Q4 22	$93M	1.3%
Q1 23	$131M	1.9%
Q2 23	$162M	1.9%
Q3 23	$216M	2.3%
Q4 23	$120M	1.3%
Q1 24	$159M	1.8%
Q2 24	$211M	1.9%
Q3 24	$133M	1.2%
Q4 24	$142M	1.0%
Q1 25	$154M	1.2%
Q2 25	$185M	1.2%
Q3 25	$151M	0.9%
Q4 25	$136M	0.7%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$1.6B	$1.5B
Q2 22	$1.8B	$1.5B
Q3 22	$1.8B	$1.5B
Q4 22	$2.0B	$1.6B
Q1 23	$2.0B	$1.6B
Q2 23	$2.4B	$1.8B
Q3 23	$2.4B	$1.7B
Q4 23	$2.6B	$1.8B
Q1 24	$2.5B	$1.8B
Q2 24	$2.7B	$2.0B
Q3 24	$2.7B	$2.0B
Q4 24	$3.0B	$2.3B
Q1 25	$2.7B	$2.4B
Q2 25	$3.3B	$2.6B
Q3 25	$3.5B	$2.7B
Q4 25	$3.8B	$3.3B

Revenue Segments

Quarter	Diabetes	Immunology	Neuroscience	Oncology	Other Product, Total	Collaboration and Other Revenue	Product	Royalty	Trajenta (BI)	Cardiometabolic Health
Q1 22	$3.4B	$748M	$472M	$1.5B	$1.9B	—	—	—	—	—
Q2 22	$3.4B	$797M	$460M	$1.5B	$495M	—	—	—	—	—
Q3 22	$3.7B	$866M	$434M	$1.4B	$746M	—	—	—	—	—
Q4 22	—	—	—	—	—	$962M	$6.3B	$33M	$91M	—
Q1 23	$4.2B	$778M	$361M	$1.4B	$275M	—	—	—	—	—
Q2 23	$5.0B	$929M	$387M	$1.7B	$315M	—	—	—	—	—
Q3 23	$4.7B	$987M	$1.8B	$1.7B	$276M	—	—	—	—	—
Q1 24	$5.5B	$834M	$553M	$2.1B	$242M	—	—	—	—	—
Q2 24	—	$1.1B	$487M	$2.5B	$208M	—	—	—	—	$7.5B
Q3 24	—	$1.2B	$469M	$2.6B	$263M	—	—	—	—	$7.4B
Q1 25	—	$1.1B	$272M	$1.9B	$213M	—	—	—	—	$9.2B
Q2 25	—	$1.3B	$344M	$2.4B	$202M	—	—	—	—	$11.3B
Q3 25	—	$1.4B	$316M	$2.4B	$337M	—	—	—	—	$13.2B

Revenue by Geography

Quarter	China	Europe	Japan	Non-US	United States
Q1 22	$407M	$1.1B	$410M	$752M	$5.2B
Q2 22	$352M	$1.1B	$454M	$646M	$3.9B
Q3 22	$343M	$1.1B	$488M	$632M	$4.4B
Q4 22	$351M	$1.1B	$395M	$823M	$4.7B
Q1 23	$373M	$1.1B	$387M	$673M	$4.4B
Q2 23	$399M	$1.2B	$456M	$749M	$5.5B
Q3 23	$391M	$2.6B	$391M	$780M	$5.4B
Q4 23	$377M	$1.3B	$439M	$744M	$6.5B
Q1 24	$376M	$1.4B	$364M	$893M	$5.7B
Q2 24	$395M	$1.4B	$463M	$1.2B	$7.8B
Q3 24	$460M	$1.6B	$429M	$1.1B	$7.8B
Q4 24	$429M	$2.4B	$559M	$1.1B	$9.0B
Q1 25	$451M	$2.4B	$402M	$997M	$8.5B
Q2 25	$466M	$2.6B	$521M	$1.2B	$10.8B
Q3 25	$560M	$3.5B	$555M	$1.7B	$11.3B
Q4 25	$474M	$3.1B	$654M	$2.2B	$12.9B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.5B	$109M	$2.6B
Q2 22	$2.6B	$114M	$2.7B
Q3 22	$2.6B	$125M	$2.7B
Q4 22	$2.1B	$145M	$2.2B
Q1 23	$3.5B	$123M	$3.7B
Q2 23	$2.7B	$135M	$2.8B
Q3 23	$2.4B	$113M	$2.5B
Q4 23	$2.8B	$109M	$2.9B
Q1 24	$2.5B	$126M	$2.6B
Q2 24	$3.2B	$140M	$3.4B
Q3 24	$3.4B	$149M	$3.5B
Q4 24	$3.3B	$155M	$3.4B
Q1 25	$3.1B	$127M	$3.2B
Q2 25	$3.4B	$170M	$3.5B
Q3 25	$9.8B	$122M	$9.9B
Q4 25	$7.2B	$105M	$7.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	951M	-0.3%	-0.9%
Q2 22	903M	-5.0%	-0.8%
Q3 22	904M	+0.1%	-5.5%
Q4 22	950M	+5.1%	-0.4%
Q1 23	949M	-0.1%	-0.1%
Q2 23	949M	+0.0%	+5.1%
Q3 23	949M	+0.0%	+5.0%
Q4 23	904M	-4.8%	-4.9%
Q1 24	904M	-0.0%	-4.8%
Q2 24	904M	+0.0%	-4.7%
Q3 24	905M	+0.1%	-4.7%
Q4 24	903M	-0.2%	-0.1%
Q1 25	901M	-0.3%	-0.4%
Q2 25	900M	-0.1%	-0.5%
Q3 25	899M	-0.1%	-0.7%
Q4 25	898M	-0.1%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$223.1K	35K
Q2 22	$185.4K	35K
Q3 22	$198.3K	35K
Q4 22	$187.2K	39K
Q1 23	$178.5K	39K
Q2 23	$213.1K	39K
Q3 23	$243.6K	39K
Q4 23	$217.5K	43K
Q1 24	$203.9K	43K
Q2 24	$262.9K	43K
Q3 24	$266.0K	43K
Q4 24	$287.9K	47K
Q1 25	$270.8K	47K
Q2 25	$331.0K	47K
Q3 25	$374.5K	47K
Q4 25	$385.8K	50K

Revenue / Employee