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LLY

Eli Lilly and Company

LLY

Eli Lilly and Company • NYSE
$1072.43 ▼ -2.89% (-31.91)
Market Cap $963.35 B
52w High $1111.99
52w Low $623.78
Dividend Yield 6.00%
P/E 52.49
Volume 2.68M
Outstanding Shares 898.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $17.601B ▲ $6.862B ▲ $5.582B ▼ 31.717% ▼ $6.22 ▼ $7.882B ▲
Q2-2025 $15.558B ▲ $5.984B ▲ $5.66B ▲ 36.384% ▲ $6.3 ▲ $7.504B ▲
Q1-2025 $12.729B ▼ $5.096B ▼ $2.759B ▼ 21.678% ▼ $3.07 ▼ $4.163B ▼
Q4-2024 $13.533B ▲ $5.331B ▲ $4.41B ▲ 32.586% ▲ $4.91 ▲ $5.748B ▲
Q3-2024 $11.439B $4.718B $970.3M 8.482% $1.08 $2.248B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.914B ▲ $114.935B ▲ $91.085B ▲ $23.793B ▲
Q2-2025 $3.546B ▲ $100.923B ▲ $82.573B ▲ $18.273B ▲
Q1-2025 $3.221B ▼ $89.389B ▲ $73.542B ▲ $15.765B ▲
Q4-2024 $3.423B ▼ $78.715B ▲ $64.443B ▲ $14.192B ▼
Q3-2024 $3.518B $75.607B $61.286B $14.24B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.582B ▼ $8.836B ▲ $-2.983B ▼ $531M ▲ $6.416B ▲ $8.612B ▲
Q2-2025 $5.66B ▲ $3.087B ▲ $-1.835B ▲ $-1.245B ▼ $282.6M ▲ $1.283B ▲
Q1-2025 $2.759B ▼ $1.666B ▼ $-3.352B ▼ $1.38B ▲ $-175.1M ▼ $-1.601B ▼
Q4-2024 $4.41B ▲ $2.474B ▼ $-1.921B ▲ $-225.4M ▼ $-100.6M ▼ $726.6M ▲
Q3-2024 $970.3M $3.712B $-4.005B $211.3M $145.4M $-458.9M

Revenue by Products

Product Q3-2024Q1-2025Q2-2025Q3-2025
Cardiometabolic Health
Cardiometabolic Health
 $7.41Bn ▲$9.21Bn ▲$11.34Bn ▲$13.18Bn ▲
Immunology
Immunology
 $1.19Bn ▲$1.09Bn ▼$1.26Bn ▲$1.36Bn ▲
Neuroscience
Neuroscience
 $470.00M ▲$270.00M ▼$340.00M ▲$320.00M ▼
Oncology
Oncology
 $2.56Bn ▲$1.95Bn ▼$2.41Bn ▲$2.41Bn ▲
Other Product Total
Other Product Total
 $260.00M ▲$210.00M ▼$200.00M ▼$340.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Eli Lilly’s income statement shows a company in a strong growth phase. Sales have climbed steadily over the past several years, with an especially sharp jump recently as new diabetes and obesity drugs gained traction. Profitability has improved along with this growth: gross profit and operating profit have both expanded meaningfully, indicating strong pricing power and good cost control. Net income and earnings per share have moved higher over time, even with some year‑to‑year noise, suggesting that the business is scaling well rather than just growing top line. Overall, the core business looks both larger and more profitable than it was a few years ago, driven by a small number of highly successful products.

Balance Sheet

Balance Sheet The balance sheet has grown substantially as Lilly has invested for expansion. Total assets are much higher than a few years ago, reflecting new facilities, R&D assets, and the value of an enlarged product portfolio. Debt has also risen significantly, which means the company is leaning more on borrowing to finance growth. Equity has been increasing, but more slowly than total assets, so the capital structure is more leveraged than before, though still supported by strong earnings power. Cash on hand is modest relative to the size of the company, but not unusually low for a large, consistently profitable pharma business. The picture is of a balance sheet being actively deployed to support a big growth opportunity, rather than one optimized for maximum conservatism.

Cash Flow

Cash Flow Cash generation from the core business is solid: operating cash flow has generally been healthy and in line with rising profits. The standout change is on the spending side. Capital expenditures have surged in the last couple of years as Lilly builds out manufacturing capacity and infrastructure, especially to meet demand for its metabolic drugs. This heavy investment has squeezed free cash flow, turning it negative in one recent year and very thin in the most recent period. In simple terms, Lilly is plowing a large portion of the cash it earns back into the business right now. That can support future growth, but it also means less flexibility in the short term for things like rapid debt reduction or aggressive shareholder returns.

Competitive Edge

Competitive Edge Lilly’s competitive position is exceptionally strong at the moment. Its diabetes and obesity medicines have set a new standard for effectiveness, which gives the company a commanding position in a huge and growing market. Protective patents, deep scientific expertise, and very large manufacturing commitments create meaningful barriers for rivals. The company also benefits from high trust among doctors and patients, and from the fact that people on chronic treatments are often reluctant to switch to alternatives. At the same time, the dependence on a few blockbuster drugs increases exposure to competitive responses, pricing pressures, and policy changes. Even so, the combination of product performance, scale, and brand makes Lilly one of the most advantaged players in global pharmaceuticals today.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Lilly’s story. The company spends heavily on research and development and focuses on areas where it can change standards of care, such as diabetes, obesity, Alzheimer’s, oncology, and immunology. Its breakthrough in dual‑action incretin therapies has already reshaped metabolic disease treatment, and it is pushing further with next‑generation injectable and oral weight‑management drugs. Lilly is also leaning into artificial intelligence to speed up drug discovery and clinical trials, and it runs open‑innovation programs to tap into ideas from academia and smaller biotech firms. The pipeline includes high‑profile projects like an Alzheimer’s antibody, new obesity mechanisms, and expanded uses for existing blockbusters. This keeps the growth story from being purely about one or two current products, although execution and regulatory risk are always present in early‑stage science.

Summary

Overall, Eli Lilly looks like a mature pharmaceutical company that has entered a powerful new growth phase. Revenue and profitability have scaled rapidly thanks to highly successful diabetes and obesity drugs, while the balance sheet and cash flows show a deliberate choice to invest aggressively in manufacturing and future products. Its competitive moat—built on patents, clinical outcomes, manufacturing scale, and brand trust—is unusually strong, but is tied closely to the continued success and safety profile of a handful of key therapies. The innovation engine and pipeline provide multiple avenues for future expansion, from metabolic disease to Alzheimer’s and beyond. Key things to watch going forward include: how well Lilly manages capacity bottlenecks, debt and heavy capital spending; how competition and regulators respond to its flagship drugs; and whether the broader pipeline can sustain growth as today’s blockbusters age.

NEWS

November 24, 2025 · 4:30 PM UTC

Lilly to highlight progress across key programs in early and advanced hormone receptor-positive breast cancer at the 2025 San Antonio Breast Cancer Symposium

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November 24, 2025 · 12:00 PM UTC

Lilly to present data from two positive Phase 3 studies of Jaypirca (pirtobrutinib) in chronic lymphocytic leukemia at the 2025 American Society of Hematology (ASH) Annual Meeting

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November 21, 2025 · 9:00 AM UTC

Ilant Health Enhances Comprehensive Cardiometabolic Care with Direct Contracting for Obesity Management Medicine for Employers

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November 19, 2025 · 6:45 AM UTC

Lilly announces plans to open Lilly Gateway Labs site in Philadelphia

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November 18, 2025 · 10:00 AM UTC

Lilly to participate in Citi's 2025 Global Healthcare Conference

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