Eli Lilly and Company (LLY) Financials

$701.51 +17.08 (+2.50%)

Closing price 03:59 PM Eastern

Extended Trading

$702.54 +1.02 (+0.15%)

As of 06:44 PM Eastern

Annual Income Statements for Eli Lilly and Company

This table shows Eli Lilly and Company's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	2,391	2,408	2,738	-204	3,232	8,318	6,194	5,582	6,245	5,240	10,590
Consolidated Net Income / (Loss)	2,391	2,408	2,738	-204	3,232	8,318	6,194	5,582	6,245	5,240	10,590
Net Income / (Loss) Continuing Operations	2,391	2,408	2,738	-86	3,151	4,638	6,194	5,582	6,245	5,240	10,590
Total Pre-Tax Income	3,000	2,790	3,374	2,305	3,680	5,266	7,230	6,156	6,806	6,555	12,680
Total Operating Income	2,660	2,689	3,261	2,003	3,535	4,974	6,058	6,357	7,127	6,458	12,899
Total Gross Profit	14,683	14,922	15,512	15,526	16,812	17,598	19,057	21,006	21,912	27,042	36,624
Total Revenue	19,616	19,959	21,222	19,974	21,493	22,320	24,540	28,318	28,541	34,124	45,043
Operating Revenue	19,616	19,959	21,222	19,974	21,493	22,320	24,540	28,318	28,541	34,124	45,043
Total Cost of Revenue	4,933	5,037	5,710	4,448	4,682	4,721	5,483	7,313	6,630	7,082	8,418
Operating Cost of Revenue	4,933	5,037	5,710	4,448	4,682	4,721	5,483	7,313	6,630	7,082	8,418
Total Operating Expenses	12,023	12,232	12,251	13,523	13,277	12,624	12,999	14,649	14,784	20,584	23,725
Selling, General & Admin Expense	6,621	6,533	6,528	5,982	5,975	6,214	6,121	6,432	6,440	7,403	8,594
Research & Development Expense	4,934	5,331	5,340	6,209	7,035	5,835	6,746	7,901	8,099	13,113	14,271
Restructuring Charge	469	368	383	1,332	267	576	131	316	245	68	861
Total Other Income / (Expense), net	341	101	113	302	146	292	1,172	-202	-321	97	-219
Other Income / (Expense), net	341	101	113	302	146	292	1,172	-202	-321	97	-219
Income Tax Expense	610	382	636	2,391	530	628	1,036	574	562	1,314	2,090
Basic Earnings per Share	$2.23	$2.27	$2.59	($0.19)	$3.14	$8.93	$6.82	$6.15	$6.93	$5.82	$11.76
Weighted Average Basic Shares Outstanding	1.07B	1.06B	1.06B	1.05B	1.03B	931.06M	907.63M	906.96M	901.74M	900.18M	900.61M
Diluted Earnings per Share	$2.23	$2.26	$2.58	($0.19)	$3.13	$8.89	$6.79	$6.12	$6.90	$5.80	$11.71
Weighted Average Diluted Shares Outstanding	1.07B	1.07B	1.06B	1.05B	1.03B	935.68M	912.51M	911.68M	904.62M	903.28M	904.06M
Weighted Average Basic & Diluted Shares Outstanding	1.11B	1.11B	1.10B	1.07B	1.03B	956.38M	958.43M	952.35M	950.30M	950.16M	948.17M
Cash Dividends to Common per Share	-	-	-	$2.12	$2.25	$2.58	$3.07	$3.53	$4.07	$4.69	$5.40

This table shows Eli Lilly and Company's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1,938	1,345	1,763	-57	2,190	2,243	2,967	970	4,410	2,759	5,661
Consolidated Net Income / (Loss)	1,938	1,345	1,763	-57	2,190	2,243	2,967	970	4,410	2,759	5,661
Net Income / (Loss) Continuing Operations	1,938	1,345	1,763	-57	2,190	2,243	2,967	970	4,410	2,759	5,661
Total Pre-Tax Income	2,096	1,530	2,089	427	2,509	2,536	3,517	1,588	5,039	3,456	6,776
Total Operating Income	1,836	1,494	2,126	450	2,388	2,509	3,715	1,526	5,149	3,695	6,867
Total Gross Profit	5,754	5,333	6,505	7,639	7,565	7,095	9,133	9,268	11,129	10,504	13,110
Total Revenue	7,302	6,960	8,312	9,499	9,353	8,768	11,303	11,439	13,533	12,729	15,558
Operating Revenue	7,302	6,960	8,312	9,499	9,353	8,768	11,303	11,439	13,533	12,729	15,558
Total Cost of Revenue	1,548	1,627	1,807	1,860	1,788	1,674	2,170	2,171	2,404	2,224	2,448
Operating Cost of Revenue	1,548	1,627	1,807	1,860	1,788	1,674	2,170	2,171	2,404	2,224	2,448
Total Operating Expenses	3,917	3,839	4,379	7,188	5,178	4,586	5,418	7,742	5,980	6,809	6,243
Selling, General & Admin Expense	1,643	1,749	1,925	1,804	1,925	1,952	2,117	2,100	2,425	2,469	2,753
Research & Development Expense	2,236	2,090	2,454	5,384	3,185	2,633	2,866	5,561	3,212	4,305	3,490
Restructuring Charge	-	-	0.00	0.00	-	0.00	435	82	-	35	0.00
Total Other Income / (Expense), net	260	36	-37	-23	121	27	-198	62	-110	-239	-91
Other Income / (Expense), net	260	36	-37	-23	121	27	-198	62	-110	-239	-91
Income Tax Expense	159	185	326	485	319	293	550	618	629	697	1,116
Basic Earnings per Share	$2.15	$1.49	$1.96	($0.06)	$2.43	$2.49	$3.29	$1.08	$4.90	$3.07	$6.30
Weighted Average Basic Shares Outstanding	901.74M	901M	899.70M	899.80M	900.18M	900.80M	900.90M	901M	900.61M	898.70M	897.90M
Diluted Earnings per Share	$2.14	$1.49	$1.95	($0.06)	$2.42	$2.48	$3.28	$1.07	$4.88	$3.06	$6.29
Weighted Average Diluted Shares Outstanding	904.62M	903.30M	902.70M	899.80M	903.28M	903.80M	904.20M	905M	904.06M	900.60M	899.80M
Weighted Average Basic & Diluted Shares Outstanding	950.30M	949.27M	949.30M	949.31M	950.16M	950.41M	950.43M	949.32M	948.17M	947.74M	946.46M

This table details how cash moves in and out of Eli Lilly and Company's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	41	-205	916	1,954	1,526	-5,661	1,320	161	-1,752	752	450
Net Cash From Operating Activities	4,458	2,965	4,851	5,616	5,525	4,837	6,500	7,366	7,586	4,240	8,818
Net Cash From Continuing Operating Activities	4,458	2,982	4,851	5,616	5,525	4,837	6,500	7,366	7,586	4,240	8,818
Net Income / (Loss) Continuing Operations	2,391	2,408	2,738	-204	3,232	8,318	6,194	5,582	6,245	5,240	10,590
Consolidated Net Income / (Loss)	2,391	2,408	2,738	-204	3,232	8,318	6,194	5,582	6,245	5,240	10,590
Depreciation Expense	1,379	1,428	1,497	1,567	1,609	1,233	1,324	1,548	1,523	1,527	1,767
Non-Cash Adjustments To Reconcile Net Income	697	753	285	1,394	2,236	-3,589	-470	1,324	1,543	2,573	3,752
Changes in Operating Assets and Liabilities, net	-8.00	-1,607	332	2,859	-1,553	-1,126	-548	-1,088	-1,725	-5,101	-7,291
Net Cash From Investing Activities	-3,909	27	-3,139	-3,784	1,906	-8,083	-2,259	-2,868	-3,763	-7,153	-9,302
Net Cash From Continuing Investing Activities	-3,909	27	-3,139	-3,784	1,906	-8,083	-2,259	-2,868	-3,763	-7,153	-9,302
Purchase of Property, Plant & Equipment	-1,163	-1,066	-1,037	-1,077	-1,211	-1,034	-1,388	-1,310	-1,854	-3,448	-5,058
Acquisitions	-955	-5,843	-100	-1,969	-1,808	-7,611	-1,491	-1,416	-1,458	-4,989	-4,294
Purchase of Investments	-9,803	-4,069	-4,346	-8,001	-950	-290	-370	-1,013	-708	-829	-776
Divestitures	-	-	-	0.00	0.00	355	-	216	96	1,604	601
Sale and/or Maturity of Investments	13,426	5,230	2,401	7,439	6,062	746	887	847	464	700	523
Other Investing Activities, net	-5,430	5,272	-130	-175	-188	-249	103	-192	-302	-192	-298
Net Cash From Financing Activities	-166	-3,111	-560	143	-5,905	-2,325	-3,137	-4,131	-5,407	3,496	1,230
Net Cash From Continuing Financing Activities	-166	-3,111	-560	143	-5,905	-2,325	-3,137	-4,131	-5,407	3,496	1,230
Repayment of Debt	-939	-4,689	992	-995	-3,580	-2,071	-2,012	-2,201	-371	4,356	-3,007
Repurchase of Common Equity	-800	-750	-600	-300	-4,151	-4,400	-500	-1,250	-1,500	-750	-2,500
Payment of Dividends	-2,101	-2,127	-2,159	-2,192	-2,312	-2,410	-2,687	-3,087	-3,536	-4,069	-4,680
Issuance of Debt	3,674	4,455	1,207	3,630	2,478	6,556	2,062	2,407	0.00	3,959	11,417
Effect of Exchange Rate Changes	-342	-86	-236	-21	-	-90	216	-	-168	169	-297

This table details how cash moves in and out of Eli Lilly and Company's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	-550	1,479	-851	-314	438	-358	763	145	-101	-175	283
Net Cash From Operating Activities	1,663	1,731	632	2,190	-312	1,166	1,466	3,712	2,474	1,666	3,087
Net Cash From Continuing Operating Activities	1,663	1,731	632	2,190	-312	1,166	1,466	3,712	2,474	1,666	3,087
Net Income / (Loss) Continuing Operations	1,938	1,345	1,763	-57	2,190	2,243	2,967	970	4,410	2,759	5,661
Consolidated Net Income / (Loss)	1,938	1,345	1,763	-57	2,190	2,243	2,967	970	4,410	2,759	5,661
Depreciation Expense	375	362	366	411	388	401	414	467	485	463	479
Non-Cash Adjustments To Reconcile Net Income	15	250	324	1,401	597	254	523	2,747	228	1,875	225
Changes in Operating Assets and Liabilities, net	-665	-227	-1,822	435	-3,486	-1,732	-2,439	-472	-2,649	-3,431	-3,277
Net Cash From Investing Activities	-944	-689	-459	-3,081	-2,924	-1,178	-2,199	-4,005	-1,921	-3,352	-1,835
Net Cash From Continuing Investing Activities	-944	-689	-459	-3,081	-2,924	-1,178	-2,199	-4,005	-1,921	-3,352	-1,835
Purchase of Property, Plant & Equipment	-501	-669	-738	-970	-1,071	-986	-1,225	-1,351	-1,496	-1,510	-1,697
Acquisitions	-465	-235	-98	-3,031	-1,625	-97	-1,126	-2,820	-251	-1,757	-107
Purchase of Investments	-169	-169	-234	-151	-275	-117	-157	-295	-182	-197	-171
Sale and/or Maturity of Investments	129	343	155	133	69	71	214	100	97	72	204
Other Investing Activities, net	32	40	457	-666	-23	-48	96	-170	-159	39	-64
Net Cash From Financing Activities	-1,141	412	-1,033	572	3,545	-311	1,556	211	-225	1,380	-1,245
Net Cash From Continuing Financing Activities	-1,141	412	-1,033	572	3,545	-311	1,556	211	-225	1,380	-1,245
Repayment of Debt	-257	-1,779	-16	1,588	4,563	-5,595	2,728	-3,137	2,997	-2,535	794
Repurchase of Common Equity	-	-750	-	-	-	0.00	-	-446	-2,054	-1,200	-692
Payment of Dividends	-884	-1,017	-1,018	-1,016	-1,018	-1,169	-1,172	-1,171	-1,168	-1,346	-1,347
Effect of Exchange Rate Changes	-128	25	9.20	5.30	129	-36	-60	227	-429	132	276

This table presents Eli Lilly and Company's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	36,308	35,569	38,806	44,981	43,908	39,286	46,633	48,806	49,490	64,006	78,715
Total Current Assets	11,928	12,574	15,101	19,202	20,550	13,710	17,462	18,452	18,035	25,727	32,740
Cash & Equivalents	3,872	3,666	4,582	6,536	7,321	2,338	3,657	3,819	2,067	2,819	3,268
Short-Term Investments	955	785	1,457	1,498	88	101	24	90	145	109	155
Accounts Receivable	3,801	4,072	4,766	5,262	5,777	5,542	6,929	8,127	8,559	11,336	13,275
Inventories, net	2,740	3,446	3,562	4,458	3,098	3,191	3,980	3,886	4,310	5,773	7,589
Prepaid Expenses	560	604	735	1,448	2,037	2,539	2,872	2,531	2,947	5,541	8,341
Other Current Assets	-	-	-	-	-	-	-	-	7.30	150	111
Plant, Property, & Equipment, net	7,964	8,054	8,253	8,827	7,996	7,873	8,682	8,985	10,144	12,914	17,102
Total Noncurrent Assets	16,415	14,942	15,452	16,952	15,363	17,704	20,489	21,369	21,311	25,366	28,873
Long-Term Investments	4,569	3,647	5,208	5,679	2,005	1,962	2,967	3,213	2,902	3,052	3,216
Goodwill	1,758	4,040	3,973	4,370	1,367	3,679	3,767	3,892	4,073	4,940	5,770
Intangible Assets	2,884	5,035	4,358	4,029	1,068	6,618	7,450	7,692	7,207	6,907	6,166
Noncurrent Deferred & Refundable Income Taxes	-	-	-	1,166	2,614	2,573	2,830	2,489	2,793	5,477	8,001
Other Noncurrent Operating Assets	1,799	2,221	1,914	1,708	1,825	2,871	3,475	4,083	4,337	4,990	5,720
Total Liabilities & Shareholders' Equity	36,308	35,569	38,806	44,981	43,908	39,286	46,633	48,806	49,490	64,006	78,715
Total Liabilities	20,920	20,979	24,725	33,313	32,999	36,587	40,808	39,651	38,714	53,143	64,443
Total Current Liabilities	9,741	8,230	10,987	14,536	11,888	11,775	12,482	15,053	17,138	27,293	28,377
Short-Term Debt	2,689	6.10	1,937	3,707	1,102	1,499	8.70	1,538	1,501	6,905	5,117
Accounts Payable	1,128	1,338	1,349	1,411	1,207	1,405	1,607	1,671	1,931	2,599	3,229
Dividends Payable	530	539	548	591	651	672	771	886	1,017	1,169	1,346
Current Deferred & Payable Income Tax Liabilities	94	359	119	533	393	161	495	127	-	-	1,116
Current Employee Benefit Liabilities	759	967	897	998	956	916	997	958	1,060	1,650	2,094
Other Current Liabilities	4,541	5,020	6,136	7,297	6,886	7,123	8,603	9,873	11,630	14,970	15,474
Total Noncurrent Liabilities	11,179	12,749	13,739	18,777	21,111	24,812	28,326	24,599	21,576	25,849	36,067
Long-Term Debt	5,333	7,972	8,368	9,941	9,196	13,818	16,587	15,346	14,738	18,321	28,527
Noncurrent Deferred Revenue	999	869	689	3,777	3,700	3,607	3,838	3,920	3,710	3,849	4,061
Noncurrent Employee Benefit Liabilities	2,563	2,160	2,454	3,514	2,802	3,698	4,095	1,954	1,305	1,439	1,301
Other Noncurrent Operating Liabilities	2,284	1,747	2,228	1,546	1,358	1,501	1,708	1,644	1,824	2,241	2,178
Commitments & Contingencies	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	15,388	14,590	14,081	11,668	10,909	2,699	5,825	9,155	10,775	10,864	14,272
Total Preferred & Common Equity	15,373	14,571	14,008	11,592	9,829	2,607	5,642	8,979	10,650	10,772	14,192
Total Common Equity	15,373	14,571	14,008	11,592	9,832	2,607	5,642	8,979	10,650	10,772	14,192
Common Stock	5,987	6,243	6,329	6,506	7,245	7,284	7,377	7,430	7,516	7,844	8,032
Retained Earnings	16,483	16,012	16,046	13,894	11,396	4,920	7,830	8,959	10,043	10,312	13,545
Treasury Stock	-91	-90	-81	-76	-69	-61	-56	-53	-51	-44	-50
Accumulated Other Comprehensive Income / (Loss)	-3,992	-4,581	-5,274	-5,719	-5,729	-6,524	-6,496	-4,343	-3,845	-4,327	-4,322
Other Equity Adjustments	-3,013	-3,013	-3,013	-3,013	-3,010	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013
Noncontrolling Interest	15	19	73	76	1,080	92	184	176	126	92	80

This table presents Eli Lilly and Company's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	49,490	53,163	54,814	57,916	64,006	63,944	71,875	75,607	78,715	89,389	100,923
Total Current Assets	18,035	20,811	21,332	23,007	25,727	25,189	30,204	31,415	32,740	41,261	49,854
Cash & Equivalents	2,067	3,546	2,695	2,381	2,819	2,460	3,224	3,369	3,268	3,093	3,376
Short-Term Investments	145	123	135	113	109	126	140	149	155	127	170
Accounts Receivable	8,559	9,022	9,171	10,364	11,336	10,014	13,079	12,052	13,275	14,003	17,206
Inventories, net	4,310	4,545	4,799	4,901	5,773	6,102	6,482	7,460	7,589	9,311	11,014
Prepaid Expenses	2,947	3,575	4,532	5,248	5,541	6,349	7,138	8,251	8,341	14,654	18,020
Other Current Assets	7.30	-	-	-	150	139	142	135	111	72	69
Plant, Property, & Equipment, net	10,144	10,546	11,277	11,863	12,914	13,624	14,829	16,172	17,102	18,474	20,530
Total Noncurrent Assets	21,311	21,805	22,205	23,045	25,366	25,131	26,841	28,020	28,873	29,654	30,539
Long-Term Investments	2,902	2,750	2,745	2,692	3,052	3,087	2,878	3,200	3,216	3,223	3,207
Goodwill	4,073	4,073	4,079	4,085	4,940	4,940	5,768	5,768	5,770	5,771	5,771
Intangible Assets	7,207	7,087	6,904	6,782	6,907	6,762	6,636	6,537	6,166	6,012	5,908
Noncurrent Deferred & Refundable Income Taxes	2,793	3,407	3,806	4,575	5,477	5,634	6,655	7,392	8,001	8,573	9,427
Other Noncurrent Operating Assets	4,337	4,488	4,672	4,912	4,990	4,708	4,904	5,122	5,720	6,075	6,225
Total Liabilities & Shareholders' Equity	49,490	53,163	54,814	57,916	64,006	63,944	71,875	75,607	78,715	89,389	100,923
Total Liabilities	38,714	41,868	43,665	46,608	53,143	51,046	58,239	61,286	64,443	73,542	82,574
Total Current Liabilities	17,138	16,010	18,915	21,998	27,293	18,598	27,121	24,674	28,377	30,068	39,020
Short-Term Debt	1,501	3.10	662	2,245	6,905	1,652	5,162	2,074	5,117	4,016	5,724
Accounts Payable	1,931	2,016	2,474	2,435	2,599	2,474	2,925	2,887	3,229	3,442	4,076
Dividends Payable	1,017	0.00	1,016	0.00	1,169	0.00	1,171	0.00	1,346	0.00	1,345
Current Deferred & Payable Income Tax Liabilities	-	1,528	1,234	1,978	-	-	-	-	-	6,176	6,958
Current Employee Benefit Liabilities	1,060	740	868	1,233	1,650	844	1,168	1,703	2,094	1,114	1,303
Other Current Liabilities	11,630	11,723	12,662	14,108	14,970	13,629	16,696	18,010	16,591	15,320	19,614
Total Noncurrent Liabilities	21,576	25,858	24,750	24,610	25,849	32,448	31,118	36,612	36,067	43,474	43,554
Long-Term Debt	14,738	18,881	18,158	17,924	18,321	24,560	23,730	29,045	28,527	34,500	34,180
Noncurrent Deferred Revenue	3,710	3,842	3,331	3,468	3,849	4,189	3,497	3,879	4,061	5,371	5,684
Noncurrent Employee Benefit Liabilities	1,305	1,313	1,309	1,312	1,439	1,428	1,420	1,449	1,301	1,316	1,345
Other Noncurrent Operating Liabilities	1,824	1,823	1,952	1,906	2,241	2,271	2,471	2,239	2,178	2,288	2,345
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	10,775	11,295	11,149	11,307	10,864	12,897	13,636	14,321	14,272	15,847	18,349
Total Preferred & Common Equity	10,650	11,190	11,064	11,220	10,772	12,812	13,562	14,240	14,192	15,765	18,273
Total Common Equity	10,650	11,190	11,064	11,220	10,772	12,812	13,562	14,240	14,192	15,765	18,273
Common Stock	7,516	7,387	7,542	7,754	7,844	7,604	7,808	7,934	8,032	7,503	7,681
Retained Earnings	10,043	10,639	10,369	10,310	10,312	12,554	13,178	13,627	13,545	15,100	17,376
Treasury Stock	-51	-45	-45	-45	-44	-33	-33	-33	-50	-50	-55
Accumulated Other Comprehensive Income / (Loss)	-3,845	-3,777	-3,789	-3,785	-4,327	-4,300	-4,379	-4,275	-4,322	-3,775	-3,716
Other Equity Adjustments	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013	-3,013
Noncontrolling Interest	126	105	86	87	92	85	74	81	80	82	76

This table displays calculated financial ratios and metrics derived from Eli Lilly and Company's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-15.13%	1.75%	6.33%	-5.88%	7.61%	3.84%	9.95%	15.40%	0.79%	19.56%	32.00%
EBITDA Growth	-40.30%	-3.69%	15.48%	-20.50%	36.60%	22.87%	31.63%	-9.95%	8.12%	-2.97%	78.76%
EBIT Growth	-49.06%	-7.01%	20.93%	-31.69%	59.67%	43.09%	37.30%	-14.86%	10.57%	-3.70%	93.46%
NOPAT Growth	-50.39%	9.55%	13.98%	-102.84%	4,129.35%	44.78%	18.46%	11.07%	13.44%	-21.04%	108.65%
Net Income Growth	-48.97%	0.75%	13.67%	-107.46%	1,683.54%	157.38%	-25.54%	-9.88%	11.88%	-16.08%	102.08%
EPS Growth	-48.38%	1.35%	14.16%	-107.36%	1,747.37%	184.03%	-23.62%	-9.87%	12.75%	-15.94%	101.90%
Operating Cash Flow Growth	-22.26%	-33.51%	63.63%	15.76%	-1.62%	-12.45%	34.38%	13.33%	2.98%	-44.10%	107.96%
Free Cash Flow Firm Growth	20.62%	-206.41%	211.79%	-64.21%	467.12%	-134.02%	207.08%	-14.66%	36.81%	-193.35%	82.11%
Invested Capital Growth	-11.75%	64.25%	-8.81%	-10.92%	-41.23%	99.37%	15.79%	19.71%	15.72%	36.48%	36.27%
Revenue Q/Q Growth	-3.39%	1.29%	1.85%	-11.11%	12.42%	2.18%	5.71%	2.02%	-2.39%	6.40%	10.23%
EBITDA Q/Q Growth	-8.52%	-1.52%	10.14%	-10.06%	9.73%	12.68%	10.79%	-6.68%	2.28%	5.55%	22.23%
EBIT Q/Q Growth	-11.67%	-2.41%	15.29%	-17.84%	17.03%	16.25%	12.55%	-9.27%	3.92%	6.71%	24.92%
NOPAT Q/Q Growth	-15.95%	5.56%	6.23%	-103.94%	564.66%	4.24%	9.45%	1.81%	-1.51%	7.63%	28.86%
Net Income Q/Q Growth	-11.12%	2.12%	12.00%	-109.17%	610.95%	4.72%	11.15%	-6.54%	3.51%	5.05%	26.52%
EPS Q/Q Growth	-11.16%	2.26%	12.17%	-109.00%	580.43%	8.15%	8.64%	-6.56%	3.92%	5.07%	26.59%
Operating Cash Flow Q/Q Growth	-6.03%	-13.05%	26.31%	-4.47%	-5.07%	11.92%	-2.23%	6.45%	-7.32%	-31.77%	46.18%
Free Cash Flow Firm Q/Q Growth	224.45%	-118.20%	136.36%	-37.81%	281,157.01%	-163.80%	-36.56%	-30.64%	-9.03%	-323.23%	85.95%
Invested Capital Q/Q Growth	-17.47%	0.74%	-12.88%	-20.48%	-54.60%	-8.97%	4.63%	10.86%	10.51%	18.97%	10.07%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	74.85%	74.76%	73.09%	77.73%	78.22%	78.85%	77.66%	74.18%	76.77%	79.25%	81.31%
EBITDA Margin	22.33%	21.13%	22.95%	19.39%	24.61%	29.12%	34.86%	27.20%	29.18%	23.68%	32.07%
Operating Margin	13.56%	13.47%	15.37%	10.03%	16.44%	22.29%	24.69%	22.45%	24.97%	18.92%	28.64%
EBIT Margin	15.30%	13.98%	15.90%	11.54%	17.12%	23.59%	29.46%	21.74%	23.85%	19.21%	28.15%
Profit (Net Income) Margin	12.19%	12.07%	12.90%	-1.02%	15.04%	37.27%	25.24%	19.71%	21.88%	15.36%	23.51%
Tax Burden Percent	79.68%	86.32%	81.14%	-8.86%	87.82%	157.97%	85.67%	90.68%	91.75%	79.95%	83.51%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	20.32%	13.68%	18.86%	103.75%	14.39%	11.93%	14.33%	9.32%	8.25%	20.05%	16.49%
Return on Invested Capital (ROIC)	21.74%	19.23%	18.44%	-0.58%	31.26%	40.84%	33.67%	31.72%	30.61%	19.05%	29.15%
ROIC Less NNEP Spread (ROIC-NNEP)	17.73%	16.25%	714.44%	-196.04%	18.46%	141.22%	42.67%	30.01%	28.03%	19.53%	28.41%
Return on Net Nonoperating Assets (RNNOA)	-7.27%	-3.16%	0.66%	-1.01%	-2.63%	81.41%	111.65%	42.80%	32.05%	29.38%	55.11%
Return on Equity (ROE)	14.48%	16.07%	19.10%	-1.59%	28.63%	122.26%	145.32%	74.52%	62.67%	48.43%	84.26%
Cash Return on Invested Capital (CROIC)	34.22%	-29.40%	27.65%	10.97%	83.19%	-25.54%	19.03%	13.78%	16.04%	-11.80%	-1.55%
Operating Return on Assets (OROA)	8.39%	7.76%	9.07%	5.50%	8.28%	12.66%	16.83%	12.90%	13.85%	11.55%	17.77%
Return on Assets (ROA)	6.68%	6.70%	7.36%	-0.49%	7.27%	20.00%	14.42%	11.70%	12.71%	9.23%	14.84%
Return on Common Equity (ROCE)	14.46%	16.05%	19.04%	-1.58%	27.17%	111.75%	140.62%	72.74%	61.72%	47.95%	83.69%
Return on Equity Simple (ROE_SIMPLE)	15.55%	16.53%	19.54%	-1.76%	32.88%	319.09%	109.79%	62.16%	58.64%	48.65%	74.62%
Net Operating Profit after Tax (NOPAT)	2,119	2,322	2,646	-75	3,026	4,381	5,190	5,765	6,539	5,163	10,773
NOPAT Margin	10.80%	11.63%	12.47%	-0.38%	14.08%	19.63%	21.15%	20.36%	22.91%	15.13%	23.92%
Net Nonoperating Expense Percent (NNEP)	4.01%	2.98%	-696.00%	195.46%	12.81%	-100.38%	-9.00%	1.71%	2.58%	-0.47%	0.75%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	24.21%	14.31%	22.48%
Cost of Revenue to Revenue	25.15%	25.24%	26.91%	22.27%	21.78%	21.15%	22.34%	25.82%	23.23%	20.75%	18.69%
SG&A Expenses to Revenue	33.75%	32.73%	30.76%	29.95%	27.80%	27.84%	24.94%	22.71%	22.57%	21.69%	19.08%
R&D to Revenue	25.15%	26.71%	25.16%	31.08%	32.73%	26.14%	27.49%	27.90%	28.38%	38.43%	31.68%
Operating Expenses to Revenue	61.29%	61.29%	57.73%	67.70%	61.77%	56.56%	52.97%	51.73%	51.80%	60.32%	52.67%
Earnings before Interest and Taxes (EBIT)	3,000	2,790	3,374	2,305	3,680	5,266	7,230	6,156	6,806	6,555	12,680
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4,379	4,218	4,871	3,872	5,289	6,499	8,554	7,703	8,329	8,082	14,447
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.99	5.24	4.87	6.86	11.17	44.29	26.15	27.26	30.52	48.48	49.09
Price to Tangible Book Value (P/TBV)	5.72	13.89	12.01	24.92	14.85	0.00	0.00	0.00	0.00	0.00	308.90
Price to Revenue (P/Rev)	3.13	3.82	3.21	3.98	5.11	5.17	6.01	8.65	11.39	15.30	15.47
Price to Earnings (P/E)	25.67	31.69	24.90	0.00	33.98	13.88	23.82	43.86	52.05	99.65	65.79
Dividend Yield	3.43%	2.79%	3.18%	2.75%	2.12%	2.09%	1.83%	1.27%	1.09%	0.78%	0.67%
Earnings Yield	3.90%	3.16%	4.02%	0.00%	2.94%	7.21%	4.20%	2.28%	1.92%	1.00%	1.52%
Enterprise Value to Invested Capital (EV/IC)	6.57	5.08	4.92	6.53	15.60	8.85	9.53	12.86	14.67	17.31	16.98
Enterprise Value to Revenue (EV/Rev)	3.06	3.82	3.17	3.98	5.20	5.67	6.43	9.00	11.78	15.87	16.07
Enterprise Value to EBITDA (EV/EBITDA)	13.70	18.07	13.82	20.55	21.13	19.46	18.43	33.07	40.37	67.01	50.10
Enterprise Value to EBIT (EV/EBIT)	20.00	27.32	19.95	34.53	30.37	24.02	21.81	41.39	49.41	82.62	57.08
Enterprise Value to NOPAT (EV/NOPAT)	28.31	32.83	25.43	0.00	36.94	28.87	30.38	44.19	51.42	104.89	67.19
Enterprise Value to Operating Cash Flow (EV/OCF)	13.46	25.71	13.87	14.17	20.23	26.15	24.26	34.59	44.33	127.72	82.09
Enterprise Value to Free Cash Flow (EV/FCFF)	17.99	0.00	16.96	56.05	13.88	0.00	53.75	101.75	98.17	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.52	0.55	0.73	1.17	0.94	5.67	2.85	1.84	1.51	2.32	2.36
Long-Term Debt to Equity	0.35	0.55	0.59	0.85	0.84	5.12	2.85	1.68	1.37	1.69	2.00
Financial Leverage	-0.41	-0.19	0.00	0.01	-0.14	0.58	2.62	1.43	1.14	1.50	1.94
Leverage Ratio	2.17	2.40	2.59	3.25	3.94	6.11	10.08	6.37	4.93	5.25	5.68
Compound Leverage Factor	2.17	2.40	2.59	3.25	3.94	6.11	10.08	6.37	4.93	5.25	5.68
Debt to Total Capital	34.27%	35.35%	42.26%	53.91%	48.56%	85.02%	74.02%	64.84%	60.11%	69.90%	70.22%
Short-Term Debt to Total Capital	11.49%	0.03%	7.94%	14.64%	5.20%	8.32%	0.04%	5.91%	5.56%	19.13%	10.68%
Long-Term Debt to Total Capital	22.78%	35.32%	34.31%	39.27%	43.36%	76.70%	73.98%	58.94%	54.56%	50.77%	59.54%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.06%	0.08%	0.30%	0.30%	5.09%	0.51%	0.82%	0.67%	0.46%	0.25%	0.17%
Common Equity to Total Capital	65.67%	64.56%	57.44%	45.79%	46.36%	14.47%	25.16%	34.48%	39.42%	29.85%	29.62%
Debt to EBITDA	1.83	1.89	2.12	3.52	1.95	2.36	1.94	2.19	1.95	3.12	2.33
Net Debt to EBITDA	-0.31	-0.03	-0.19	-0.02	0.17	1.68	1.16	1.27	1.34	2.38	1.87
Long-Term Debt to EBITDA	1.22	1.89	1.72	2.57	1.74	2.13	1.94	1.99	1.77	2.27	1.97
Debt to NOPAT	3.79	3.44	3.89	-181.72	3.40	3.50	3.20	2.93	2.48	4.89	3.12
Net Debt to NOPAT	-0.65	-0.05	-0.36	0.88	0.29	2.49	1.92	1.69	1.70	3.73	2.51
Long-Term Debt to NOPAT	2.52	3.43	3.16	-132.37	3.04	3.15	3.20	2.66	2.25	3.55	2.65
Altman Z-Score	3.28	3.78	3.19	2.60	3.36	3.14	3.57	5.04	6.37	6.96	7.90
Noncontrolling Interest Sharing Ratio	0.07%	0.11%	0.32%	0.58%	5.11%	8.59%	3.24%	2.40%	1.51%	1.00%	0.68%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.22	1.53	1.37	1.32	1.73	1.16	1.40	1.23	1.05	0.94	1.15
Quick Ratio	0.89	1.04	0.98	0.91	1.11	0.68	0.85	0.80	0.63	0.52	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,336	-3,549	3,968	1,420	8,053	-2,740	2,934	2,504	3,425	-3,198	-572
Operating Cash Flow to CapEx	388.60%	526.01%	503.42%	521.51%	456.34%	467.80%	468.30%	562.37%	409.09%	122.99%	174.34%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.56	0.57	0.48	0.48	0.54	0.57	0.59	0.58	0.60	0.63
Accounts Receivable Turnover	5.01	5.07	4.80	3.98	3.89	3.94	3.94	3.76	3.42	3.43	3.66
Inventory Turnover	1.74	1.63	1.63	1.11	1.24	1.50	1.53	1.86	1.62	1.40	1.26
Fixed Asset Turnover	2.46	2.49	2.60	2.34	2.56	2.81	2.96	3.21	2.98	2.96	3.00
Accounts Payable Turnover	4.39	4.08	4.25	3.22	3.58	3.61	3.64	4.46	3.68	3.13	2.89
Days Sales Outstanding (DSO)	72.79	71.99	76.00	91.63	93.73	92.55	92.74	97.03	106.69	106.40	99.72
Days Inventory Outstanding (DIO)	209.74	224.11	223.97	329.09	294.56	243.10	238.67	196.31	225.60	259.81	289.67
Days Payable Outstanding (DPO)	83.15	89.36	85.89	113.25	102.05	100.98	100.25	81.79	99.13	116.72	126.33
Cash Conversion Cycle (CCC)	199.38	206.75	214.08	307.47	286.25	234.66	231.17	211.56	233.17	249.50	263.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,138	15,009	13,688	12,193	7,166	14,287	16,543	19,804	22,918	31,278	42,623
Invested Capital Turnover	2.01	1.65	1.48	1.54	2.22	2.08	1.59	1.56	1.34	1.26	1.22
Increase / (Decrease) in Invested Capital	-1,217	5,871	-1,322	-1,495	-5,027	7,121	2,256	3,261	3,114	8,361	11,345
Enterprise Value (EV)	60,000	76,226	67,295	79,588	111,783	126,461	157,672	254,751	336,279	541,565	723,817
Market Capitalization	61,360	76,327	68,163	79,578	109,818	115,453	147,541	244,812	325,028	522,228	696,733
Book Value per Share	$13.81	$13.15	$12.69	$10.53	$9.28	$2.72	$5.90	$9.39	$11.21	$11.35	$14.95
Tangible Book Value per Share	$9.64	$4.96	$5.14	$2.90	$6.98	($8.01)	($5.83)	($2.72)	($0.66)	($1.13)	$2.38
Total Capital	23,410	22,569	24,386	25,315	21,208	18,016	22,421	26,040	27,014	36,089	47,916
Total Debt	8,022	7,979	10,305	13,647	10,299	15,317	16,595	16,885	16,239	25,225	33,644
Total Long-Term Debt	5,333	7,972	8,368	9,941	9,196	13,818	16,587	15,346	14,738	18,321	28,527
Net Debt	-1,374	-120	-941	-66	884	10,916	9,947	9,764	11,125	19,245	27,005
Capital Expenditures (CapEx)	1,147	564	964	1,077	1,211	1,034	1,388	1,310	1,854	3,448	5,058
Debt-free, Cash-free Net Working Capital (DFCFNWC)	49	-102	14	339	2,355	995	1,308	1,029	186	2,411	6,057
Debt-free Net Working Capital (DFNWC)	4,876	4,350	6,052	8,373	9,764	3,434	4,989	4,938	2,397	5,338	9,480
Net Working Capital (NWC)	2,187	4,344	4,115	4,666	8,662	1,934	4,981	3,400	896	-1,566	4,363
Net Nonoperating Expense (NNE)	-271	-87	-92	129	-206	-3,937	-1,004	183	294	-77	183
Net Nonoperating Obligations (NNO)	-6,250	419	-393	525	-3,743	11,588	10,718	10,649	12,142	20,415	28,351
Total Depreciation and Amortization (D&A)	1,379	1,428	1,497	1,567	1,609	1,233	1,324	1,548	1,523	1,527	1,767
Debt-free, Cash-free Net Working Capital to Revenue	0.25%	-0.51%	0.06%	1.70%	10.96%	4.46%	5.33%	3.64%	0.65%	7.06%	13.45%
Debt-free Net Working Capital to Revenue	24.86%	21.80%	28.52%	41.92%	45.43%	15.38%	20.33%	17.44%	8.40%	15.64%	21.05%
Net Working Capital to Revenue	11.15%	21.76%	19.39%	23.36%	40.30%	8.67%	20.30%	12.01%	3.14%	-4.59%	9.69%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$8.93	$6.82	$6.15	$6.93	$5.82	$11.76
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	0.00	0.00	931.06M	907.63M	906.96M	901.74M	900.18M	900.61M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$8.89	$6.79	$6.12	$6.90	$5.80	$11.71
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	935.68M	912.51M	911.68M	904.62M	903.28M	904.06M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	0.00	0.00	956.38M	958.43M	952.35M	950.30M	950.16M	948.17M
Normalized Net Operating Profit after Tax (NOPAT)	2,493	2,639	2,956	2,334	3,254	4,888	5,302	6,051	6,764	5,217	11,491
Normalized NOPAT Margin	12.71%	13.22%	13.93%	11.69%	15.14%	21.90%	21.61%	21.37%	23.70%	15.29%	25.51%
Pre Tax Income Margin	15.30%	13.98%	15.90%	11.54%	17.12%	23.59%	29.46%	21.74%	23.85%	19.21%	28.15%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	87.90%	88.33%	78.85%	-1,074.03%	71.53%	28.97%	43.38%	55.30%	56.62%	77.65%	44.20%
Augmented Payout Ratio	121.36%	119.45%	100.77%	-1,220.92%	199.95%	81.86%	51.46%	77.70%	80.64%	91.96%	67.80%

This table displays calculated financial ratios and metrics derived from Eli Lilly and Company's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.73%	-10.88%	28.12%	36.84%	28.10%	25.98%	35.98%	20.43%	44.68%	45.17%	37.64%
EBITDA Growth	8.13%	-23.99%	70.52%	-56.53%	17.20%	55.22%	60.13%	145.19%	90.70%	33.45%	84.53%
EBIT Growth	13.94%	-25.51%	91.48%	-72.71%	19.67%	65.79%	68.38%	271.82%	100.84%	36.28%	92.66%
NOPAT Growth	-5.63%	-41.04%	69.82%	-103.89%	22.78%	68.93%	74.65%	1,640.76%	116.22%	32.95%	83.05%
Net Income Growth	12.26%	-29.32%	85.11%	-103.95%	13.01%	66.77%	68.27%	1,790.42%	101.39%	23.02%	90.78%
EPS Growth	13.83%	-29.05%	85.71%	-103.73%	13.08%	66.44%	68.21%	1,883.33%	101.65%	23.39%	91.77%
Operating Cash Flow Growth	-26.48%	-31.41%	-46.60%	-1.23%	-118.76%	-32.62%	132.03%	69.53%	893.14%	42.85%	110.54%
Free Cash Flow Firm Growth	3.13%	-24.01%	6.70%	-325.46%	-343.13%	-321.33%	-244.64%	-104.87%	-8.95%	-54.65%	-8.31%
Invested Capital Growth	15.72%	14.91%	20.83%	26.78%	36.48%	40.73%	47.40%	47.29%	36.27%	43.32%	41.08%
Revenue Q/Q Growth	5.19%	-4.68%	19.43%	14.27%	-1.53%	-6.26%	28.91%	1.21%	18.30%	-5.94%	22.23%
EBITDA Q/Q Growth	28.16%	-23.44%	29.77%	-65.86%	245.56%	1.39%	33.88%	-47.73%	168.76%	-29.05%	85.13%
EBIT Q/Q Growth	33.91%	-27.03%	36.56%	-79.55%	487.27%	1.09%	38.69%	-54.84%	217.22%	-31.41%	96.07%
NOPAT Q/Q Growth	9.18%	-22.62%	36.60%	-103.37%	3,543.80%	6.47%	41.23%	-70.25%	383.27%	-34.53%	94.44%
Net Income Q/Q Growth	33.48%	-30.59%	31.10%	-103.26%	3,914.81%	2.43%	32.28%	-67.30%	354.48%	-37.43%	105.14%
EPS Q/Q Growth	32.92%	-30.37%	30.87%	-103.08%	4,133.33%	2.48%	32.26%	-67.38%	356.07%	-37.30%	105.56%
Operating Cash Flow Q/Q Growth	-24.99%	4.08%	-63.49%	246.49%	-114.25%	473.84%	25.75%	153.16%	-33.35%	-32.67%	85.33%
Free Cash Flow Firm Q/Q Growth	-7.36%	-24.97%	-46.08%	-117.08%	-11.82%	-18.82%	-19.49%	-29.04%	40.53%	-68.66%	16.31%
Invested Capital Q/Q Growth	10.51%	3.67%	6.96%	3.46%	18.97%	6.90%	12.03%	3.38%	10.07%	12.43%	10.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	78.80%	76.63%	78.26%	80.42%	80.88%	80.91%	80.80%	81.02%	82.24%	82.53%	84.27%
EBITDA Margin	33.85%	27.18%	29.54%	8.82%	30.97%	33.49%	34.78%	17.97%	40.82%	30.79%	46.63%
Operating Margin	25.15%	21.47%	25.57%	4.74%	25.53%	28.62%	32.87%	13.34%	38.05%	29.03%	44.14%
EBIT Margin	28.71%	21.98%	25.13%	4.50%	26.82%	28.92%	31.12%	13.89%	37.23%	27.15%	43.56%
Profit (Net Income) Margin	26.54%	19.32%	21.21%	-0.60%	23.41%	25.58%	26.25%	8.48%	32.59%	21.68%	36.38%
Tax Burden Percent	92.43%	87.92%	84.41%	-13.44%	87.28%	88.44%	84.36%	61.09%	87.52%	79.84%	83.53%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	7.57%	12.08%	15.59%	113.44%	12.72%	11.56%	15.64%	38.91%	12.48%	20.16%	16.47%
Return on Invested Capital (ROIC)	31.06%	23.52%	27.44%	-0.87%	28.06%	31.80%	34.33%	10.25%	40.59%	27.92%	43.49%
ROIC Less NNEP Spread (ROIC-NNEP)	33.17%	23.79%	27.20%	-0.84%	28.71%	31.94%	33.45%	10.44%	40.20%	27.20%	43.23%
Return on Net Nonoperating Assets (RNNOA)	37.93%	27.13%	36.58%	-1.01%	43.19%	43.58%	51.40%	16.04%	77.98%	49.78%	78.82%
Return on Equity (ROE)	68.99%	50.66%	64.01%	-1.87%	71.25%	75.37%	85.73%	26.29%	118.57%	77.70%	122.31%
Cash Return on Invested Capital (CROIC)	16.04%	11.45%	8.55%	-3.21%	-11.80%	-12.62%	-14.77%	-12.53%	-1.55%	-7.33%	-2.83%
Operating Return on Assets (OROA)	16.67%	12.16%	14.56%	2.74%	16.13%	17.75%	19.12%	8.50%	23.50%	17.36%	26.85%
Return on Assets (ROA)	15.41%	10.69%	12.29%	-0.37%	14.08%	15.70%	16.13%	5.19%	20.57%	13.86%	22.43%
Return on Common Equity (ROCE)	67.95%	50.08%	63.37%	-1.86%	70.54%	74.78%	85.18%	26.12%	117.77%	77.25%	121.74%
Return on Equity Simple (ROE_SIMPLE)	0.00%	50.82%	58.73%	44.46%	0.00%	47.91%	54.14%	58.78%	0.00%	70.45%	0.00%
Net Operating Profit after Tax (NOPAT)	1,697	1,314	1,794	-61	2,084	2,219	3,134	932	4,506	2,950	5,736
NOPAT Margin	23.25%	18.87%	21.59%	-0.64%	22.28%	25.31%	27.72%	8.15%	33.30%	23.18%	36.87%
Net Nonoperating Expense Percent (NNEP)	-2.11%	-0.27%	0.23%	-0.02%	-0.65%	-0.15%	0.88%	-0.19%	0.40%	0.73%	0.26%
Return On Investment Capital (ROIC_SIMPLE)	6.28%	-	-	-	5.77%	-	-	-	9.40%	5.43%	9.85%
Cost of Revenue to Revenue	21.20%	23.37%	21.74%	19.58%	19.12%	19.09%	19.20%	18.98%	17.76%	17.47%	15.73%
SG&A Expenses to Revenue	22.50%	25.13%	23.16%	18.99%	20.58%	22.27%	18.73%	18.36%	17.92%	19.40%	17.70%
R&D to Revenue	30.62%	30.03%	29.52%	56.68%	34.06%	30.03%	25.35%	48.61%	23.73%	33.82%	22.43%
Operating Expenses to Revenue	53.65%	55.16%	52.68%	75.68%	55.36%	52.30%	47.93%	67.68%	44.19%	53.50%	40.13%
Earnings before Interest and Taxes (EBIT)	2,096	1,530	2,089	427	2,509	2,536	3,517	1,588	5,039	3,456	6,776
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,471	1,892	2,455	838	2,897	2,937	3,932	2,055	5,524	3,919	7,255
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	30.52	27.41	37.93	42.79	48.48	54.71	60.28	56.30	49.09	47.18	38.39
Price to Tangible Book Value (P/TBV)	0.00	10,155.10	5,155.08	1,358.09	0.00	631.25	706.14	414.50	308.90	186.79	106.37
Price to Revenue (P/Rev)	11.39	11.08	14.22	14.97	15.30	19.51	21.00	19.62	15.47	15.18	13.17
Price to Earnings (P/E)	52.05	53.93	64.58	96.24	99.65	114.19	111.34	95.79	65.79	66.97	50.83
Dividend Yield	1.09%	1.20%	0.91%	0.82%	0.78%	0.60%	0.54%	0.57%	0.67%	0.65%	0.72%
Earnings Yield	1.92%	1.85%	1.55%	1.04%	1.00%	0.88%	0.90%	1.04%	1.52%	1.49%	1.97%
Enterprise Value to Invested Capital (EV/IC)	14.67	13.44	17.04	18.83	17.31	21.58	22.43	21.34	16.98	16.19	13.90
Enterprise Value to Revenue (EV/Rev)	11.78	11.53	14.67	15.44	15.87	20.08	21.59	20.22	16.07	15.84	13.79
Enterprise Value to EBITDA (EV/EBITDA)	40.37	41.29	49.50	64.67	67.01	79.06	79.24	69.90	50.10	50.29	39.18
Enterprise Value to EBIT (EV/EBIT)	49.41	50.82	59.47	80.62	82.62	95.43	93.47	81.40	57.08	57.05	43.57
Enterprise Value to NOPAT (EV/NOPAT)	51.42	56.73	68.02	103.22	104.89	118.94	113.52	98.84	67.19	67.46	52.07
Enterprise Value to Operating Cash Flow (EV/OCF)	44.33	47.00	69.36	79.67	127.72	196.32	186.31	136.97	82.09	83.28	67.16
Enterprise Value to Free Cash Flow (EV/FCFF)	98.17	125.50	218.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.51	1.67	1.69	1.78	2.32	2.03	2.12	2.17	2.36	2.43	2.17
Long-Term Debt to Equity	1.37	1.67	1.63	1.59	1.69	1.90	1.74	2.03	2.00	2.18	1.86
Financial Leverage	1.14	1.14	1.34	1.19	1.50	1.36	1.54	1.54	1.94	1.83	1.82
Leverage Ratio	4.93	4.82	5.14	4.91	5.25	4.84	5.11	5.21	5.68	5.33	5.40
Compound Leverage Factor	4.93	4.82	5.14	4.91	5.25	4.84	5.11	5.21	5.68	5.33	5.40
Debt to Total Capital	60.11%	62.57%	62.80%	64.08%	69.90%	67.02%	67.94%	68.48%	70.22%	70.85%	68.50%
Short-Term Debt to Total Capital	5.56%	0.01%	2.21%	7.13%	19.13%	4.22%	12.14%	4.56%	10.68%	7.39%	9.83%
Long-Term Debt to Total Capital	54.56%	62.56%	60.59%	56.94%	50.77%	62.80%	55.80%	63.92%	59.54%	63.46%	58.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.46%	0.35%	0.29%	0.28%	0.25%	0.22%	0.17%	0.18%	0.17%	0.15%	0.13%
Common Equity to Total Capital	39.42%	37.08%	36.92%	35.65%	29.85%	32.76%	31.89%	31.34%	29.62%	29.00%	31.37%
Debt to EBITDA	1.95	2.44	2.15	2.63	3.12	2.87	2.72	2.63	2.33	2.50	2.13
Net Debt to EBITDA	1.34	1.61	1.51	1.96	2.38	2.25	2.14	2.06	1.87	2.08	1.77
Long-Term Debt to EBITDA	1.77	2.44	2.08	2.34	2.27	2.69	2.24	2.46	1.97	2.24	1.82
Debt to NOPAT	2.48	3.36	2.96	4.20	4.89	4.32	3.90	3.72	3.12	3.35	2.83
Net Debt to NOPAT	1.70	2.21	2.08	3.12	3.73	3.39	3.06	2.92	2.51	2.79	2.35
Long-Term Debt to NOPAT	2.25	3.36	2.85	3.74	3.55	4.05	3.21	3.47	2.65	3.00	2.42
Altman Z-Score	6.06	5.40	6.75	7.03	6.75	9.33	9.43	8.82	7.58	7.13	6.22
Noncontrolling Interest Sharing Ratio	1.51%	1.14%	1.01%	0.85%	1.00%	0.78%	0.64%	0.65%	0.68%	0.58%	0.47%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.05	1.30	1.13	1.05	0.94	1.35	1.11	1.27	1.15	1.37	1.28
Quick Ratio	0.63	0.79	0.63	0.58	0.52	0.68	0.61	0.63	0.59	0.57	0.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,416	-1,770	-2,586	-5,613	-6,277	-7,458	-8,911	-11,499	-6,839	-11,534	-9,652
Operating Cash Flow to CapEx	332.08%	258.88%	85.60%	225.65%	-29.13%	118.22%	119.71%	274.81%	165.36%	110.34%	181.89%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.55	0.58	0.61	0.60	0.61	0.61	0.61	0.63	0.64	0.62
Accounts Receivable Turnover	3.42	3.29	3.50	3.43	3.43	3.78	3.50	3.65	3.66	4.08	3.52
Inventory Turnover	1.62	1.47	1.51	1.57	1.40	1.34	1.33	1.26	1.26	1.16	1.06
Fixed Asset Turnover	2.98	2.82	2.89	3.03	2.96	2.97	2.98	2.92	3.00	3.05	3.01
Accounts Payable Turnover	3.68	3.59	3.17	3.32	3.13	3.18	2.78	2.93	2.89	3.03	2.64
Days Sales Outstanding (DSO)	106.69	110.90	104.15	106.34	106.40	96.68	104.33	100.11	99.72	89.44	103.78
Days Inventory Outstanding (DIO)	225.60	249.00	241.93	232.92	259.81	272.55	274.79	289.13	289.67	313.62	345.30
Days Payable Outstanding (DPO)	99.13	101.79	114.97	109.84	116.72	114.93	131.52	124.47	126.33	120.37	138.17
Cash Conversion Cycle (CCC)	233.17	258.12	231.11	229.41	249.50	254.30	247.59	264.77	263.06	282.69	310.91
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	22,918	23,759	25,411	26,290	31,278	33,436	37,456	38,722	42,623	47,919	52,845
Invested Capital Turnover	1.34	1.25	1.27	1.36	1.26	1.26	1.24	1.26	1.22	1.20	1.18
Increase / (Decrease) in Invested Capital	3,114	3,084	4,380	5,553	8,361	9,677	12,045	12,432	11,345	14,484	15,388
Enterprise Value (EV)	336,279	319,252	432,955	495,154	541,565	721,568	840,226	826,258	723,817	775,969	734,648
Market Capitalization	325,028	306,684	419,623	480,084	522,228	700,944	817,502	801,776	696,733	743,815	701,421
Book Value per Share	$11.21	$11.78	$11.66	$11.82	$11.35	$14.22	$14.27	$14.98	$14.95	$16.63	$19.28
Tangible Book Value per Share	($0.66)	$0.03	$0.09	$0.37	($1.13)	$1.23	$1.22	$2.04	$2.38	$4.20	$6.96
Total Capital	27,014	30,179	29,969	31,476	36,089	39,109	42,528	45,440	47,916	54,363	58,253
Total Debt	16,239	18,884	18,820	20,168	25,225	26,211	28,892	31,120	33,644	38,516	39,904
Total Long-Term Debt	14,738	18,881	18,158	17,924	18,321	24,560	23,730	29,045	28,527	34,500	34,180
Net Debt	11,125	12,464	13,246	14,983	19,245	20,538	22,650	24,401	27,005	32,073	33,150
Capital Expenditures (CapEx)	501	669	738	970	1,071	986	1,225	1,351	1,496	1,510	1,697
Debt-free, Cash-free Net Working Capital (DFCFNWC)	186	1,135	249	760	2,411	5,656	4,881	5,297	6,057	11,989	13,012
Debt-free Net Working Capital (DFNWC)	2,397	4,805	3,078	3,254	5,338	8,242	8,245	8,815	9,480	15,210	16,558
Net Working Capital (NWC)	896	4,801	2,417	1,009	-1,566	6,591	3,083	6,741	4,363	11,193	10,834
Net Nonoperating Expense (NNE)	-240	-31	31	-3.12	-106	-24	167	-38	96	191	76
Net Nonoperating Obligations (NNO)	12,142	12,464	14,262	14,983	20,415	20,538	23,821	24,401	28,351	32,073	34,496
Total Depreciation and Amortization (D&A)	375	362	366	411	388	401	414	467	485	463	479
Debt-free, Cash-free Net Working Capital to Revenue	0.65%	4.10%	0.84%	2.37%	7.06%	15.74%	12.54%	12.96%	13.45%	24.47%	24.43%
Debt-free Net Working Capital to Revenue	8.40%	17.35%	10.43%	10.14%	15.64%	22.94%	21.18%	21.57%	21.05%	31.04%	31.09%
Net Working Capital to Revenue	3.14%	17.34%	8.19%	3.15%	-4.59%	18.34%	7.92%	16.50%	9.69%	22.84%	20.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.15	$1.49	$1.96	($0.06)	$2.43	$2.49	$3.29	$1.08	$4.90	$3.07	$6.30
Adjusted Weighted Average Basic Shares Outstanding	901.74M	901M	899.70M	899.80M	900.18M	900.80M	900.90M	901M	900.61M	898.70M	897.90M
Adjusted Diluted Earnings per Share	$2.14	$1.49	$1.95	($0.06)	$2.42	$2.48	$3.28	$1.07	$4.88	$3.06	$6.29
Adjusted Weighted Average Diluted Shares Outstanding	904.62M	903.30M	902.70M	899.80M	903.28M	903.80M	904.20M	905M	904.06M	900.60M	899.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	950.30M	949.27M	949.30M	949.31M	950.16M	950.41M	950.43M	949.32M	948.17M	947.74M	946.46M
Normalized Net Operating Profit after Tax (NOPAT)	1,697	1,314	1,794	315	2,084	2,219	3,501	982	4,506	2,978	5,736
Normalized NOPAT Margin	23.25%	18.87%	21.59%	3.32%	22.28%	25.31%	30.97%	8.59%	33.30%	23.40%	36.87%
Pre Tax Income Margin	28.71%	21.98%	25.13%	4.50%	26.82%	28.92%	31.12%	13.89%	37.23%	27.15%	43.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.62%	64.49%	58.51%	78.90%	77.65%	68.77%	59.60%	54.12%	44.20%	43.74%	36.46%
Augmented Payout Ratio	80.64%	77.68%	70.05%	93.93%	91.96%	68.77%	59.60%	59.45%	67.80%	77.05%	68.29%

Key Financial Trends

Eli Lilly & Company (NYSE: LLY) has demonstrated consistent financial growth and operational strength over the past four years based on the provided financial data for quarterly periods through Q2 2025. Below are key highlights and trends from its income statements, balance sheets, and cash flow statements.

Steady Revenue Growth: Operating revenue increased notably from approximately $6.8 billion in Q1 2021 to $15.56 billion in Q2 2025, indicating strong business expansion and product demand.
Improved Profitability: Consolidated net income has grown substantially from $1.35 billion in Q1 2021 to $5.66 billion in Q2 2025, reflecting efficient cost management and increasing earnings power.
Strong Earnings Per Share (EPS) Growth: Basic EPS rose from $1.49 in Q1 2021 to $6.30 in Q2 2025, signaling improved shareholder value and profitability on a per-share basis.
Robust Operating Cash Flow: Net cash from operating activities increased from about $1.7 billion in Q1 2021 to $3.1 billion in Q2 2025, highlighting improved cash generation capacity to support operations and investments.
Strategic Investments in Plant & Equipment: Consistent purchases of property, plant, and equipment (around $300 million to $1.7 billion quarterly) showcase ongoing investment in infrastructure to support growth.
Dividend Payments and Share Repurchases: Regular dividend payments and equity repurchases indicate a shareholder-friendly capital allocation strategy, rewarding investors while returning capital.
Increase in Total Assets and Liabilities: Total assets nearly doubled from ~$47 billion in early 2021 to over $100 billion by mid-2025, alongside an increase in total liabilities, implying expansion funded by both debt and equity.
Fluctuating Research & Development Expenses: While R&D spend grew from ~$1.7 billion quarterly in 2021 to over $3.4 billion in recent quarters, this normalization is typical in pharmaceutical companies investing in pipeline development.
Rising Operating Expenses in Some Periods: Selling, General & Administrative expenses and restructuring charges increased notably in some quarters, which could impact near-term margins if growth does not keep pace.
Increasing Debt Levels: Both short-term and long-term debt have increased from about $18 billion combined in 2021 to over $40 billion in 2025, raising concerns about leverage and interest costs.

Summary: Eli Lilly has shown significant growth in revenue, net income, and operating cash flow over the past four years, supported by strategic investments and a consistent capital return policy. The company is investing substantially in R&D and infrastructure, reflecting its commitment to innovation and long-term growth. However, the rise in debt and certain operating expenses warrants monitoring to ensure sustained financial health. Overall, the financial trends indicate robust operational performance and strong shareholder value creation.

08/15/25 05:35 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Eli Lilly and Company's Financials

When does Eli Lilly and Company's fiscal year end?

According to the most recent income statement we have on file, Eli Lilly and Company's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Eli Lilly and Company's net income changed over the last 10 years?

Eli Lilly and Company's net income appears to be on an upward trend, with a most recent value of $10.59 billion in 2024, rising from $2.39 billion in 2014. The previous period was $5.24 billion in 2023. View Eli Lilly and Company's forecast to see where analysts expect Eli Lilly and Company to go next.

What is Eli Lilly and Company's operating income?

Eli Lilly and Company's total operating income in 2024 was $12.90 billion, based on the following breakdown:

Total Gross Profit: $36.62 billion
Total Operating Expenses: $23.73 billion

How has Eli Lilly and Company's revenue changed over the last 10 years?

Over the last 10 years, Eli Lilly and Company's total revenue changed from $19.62 billion in 2014 to $45.04 billion in 2024, a change of 129.6%.

How much debt does Eli Lilly and Company have?

Eli Lilly and Company's total liabilities were at $64.44 billion at the end of 2024, a 21.3% increase from 2023, and a 208.1% increase since 2014.

How much cash does Eli Lilly and Company have?

In the past 10 years, Eli Lilly and Company's cash and equivalents has ranged from $2.07 billion in 2022 to $7.32 billion in 2018, and is currently $3.27 billion as of their latest financial filing in 2024.

How has Eli Lilly and Company's book value per share changed over the last 10 years?

Over the last 10 years, Eli Lilly and Company's book value per share changed from 13.81 in 2014 to 14.95 in 2024, a change of 8.3%.

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This page (NYSE:LLY) was last updated on 8/15/2025 by MarketBeat.com Staff

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Eli Lilly and Company (LLY) Financials

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Eli Lilly and Company (LLY) Financials

Annual Income Statements for Eli Lilly and Company

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Quarterly Cash Flow Statements for Eli Lilly and Company

Annual Balance Sheets for Eli Lilly and Company

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