Eli Lilly and CompanyLLY
NYSE•Healthcare•Drug Manufacturers - General
Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceutical products in the United States, Europe, China, Japan, and internationally. The company offers cardiometabolic health products, including Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity. It also provides oncology products, such as Cyramza for the second-line treatment of gastric cancer or gastro-esophageal junction adenocarcinoma; Erbitux for colorectal cancers and head and neck cancers; Inluriyo for breast cancer; Jaypirca for chronic lymphocytic leukemia or small lymphocytic lymphoma; Retevmo for the treatment of metastatic NSCLC; TYVYT for classic hodgkin's lymphoma; and Verzenio for breast cancer. In addition, the company offers immunology products, which include Ebglyss for severe atopic dermatitis; Olumiant for rheumatoid arthritis, atopic dermatitis, severe alopecia areata, and COVID-19; Omvoh for ulcerative colitis; and Taltz for plaque psoriasis, psoriatic arthritis, ankylosing spondylitis, and non-radiographic axial spondylarthritis. Further, it provides Emgality for migraine prevention and episodic cluster headache, as well as Kisubla for symptomatic Alzheimer's disease. The company has collaborations with Boehringer Ingelheim Pharmaceuticals, Inc. for the Jardiance product family; and F. Hoffmann-La Roche Ltd and Genentech, Inc. for lebrikizumab, as well as license agreements with Almirall, S.A. for Ebglyss; and Chugai Pharmaceutical Co., Ltd for orforglipron. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
Eli Lilly and Company (LLY) reported trailing twelve months revenue of $72.25B as of March 2026, a 47.4% increase year-over-year. Quarterly revenue reached $19.80B, reflecting continued top-line momentum.
Eli Lilly and Company generated $25.28B in TTM net income, with quarterly EBITDA of $9.42B. The operating margin expanded from 29.0% to 45.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (45.0%) and net margin (37.4%) indicates moderate non-operating costs. Net margin has improved from 21.7% a year ago, signaling stronger bottom-line efficiency.
LLY trades at a P/E of 31.4x (a premium multiple) and a P/S of 11.0x. The price-to-book ratio of 25.4x indicates a significant premium over book value.
The company generated $2.80B in free cash flow over the trailing twelve months, a 275.1% increase year-over-year, indicating cash generation ability. The balance sheet shows $116.58B in total assets with $39.37B in long-term debt against $31.20B in stockholders equity for a debt-to-equity ratio of 1.3. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~36.0%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 71.0% suggests a durable competitive advantage and efficient capital allocation.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
TTM revenue has grown consistently (7 of 7 quarters up), with ~85.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~43.6% — no sign of cost or pricing stress.
FCF consistently trails net income (avg 0.1x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 1.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation