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Develops branded medicines including diabetes/obesity drugs (Mounjaro, Zepbound), oncology and immunology treatments.
Develops branded medicines including diabetes/obesity drugs (Mounjaro, Zepbound), oncology and immunology treatments.
Earns from patented medicines sold through insurers and pharmacy benefit managers, who negotiate price and coverage. The tirzepatide drugs for diabetes and obesity have become the largest part, so supply is the limit and it has been building new factories in the US and abroad.
Moat: wide (IP / patents, scale, brand). Patent-protected GLP-1 franchise with manufacturing scale that rivals cannot match near-term.
Headquarters: Indianapolis, Indiana, United States · Founded: 1876 · Employees: 50,000
Size Lilly (Eli) (LLY) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $1.27T, the 11th largest of 3,117 United States companies the cockpit tracks. Shares closed at $1,354 on 6 Nov 2026.
Performance Over six months the shares gained 43.0%, against +19.6% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 45.5% over the last twelve months (peer median +5.9%); the operating margin is 51.2% (peer median 27.3%).
Valuation It trades at 28.9× forward earnings against a peer median of 18.2× (5th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 34.4 points above its cost of capital (6.8% WACC).
Credit Lilly (Eli) has 54 bonds outstanding ($49.1B), rated AA- by the agencies and trading like AA+ at a weighted spread of 51 bp.
Short interest Short interest is 0.7% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $86.5B | $65.2B | $45.0B | $34.1B | $28.5B |
| Revenue growth | — | +45% | +32% | +20% | — |
| Gross profit | $72.3B | $54.1B | $36.6B | $27.0B | $21.9B |
| EBITDA | $46.5B | $31.7B | $18.8B | $11.9B | $9.80B |
| Net income | $27.6B | $20.6B | $10.6B | $5.24B | $6.24B |
| Free cash flow | $19.7B | $8.97B | $3.76B | $792M | $5.23B |
| Capital expenditure | $19.0B | $10.8B | $8.40B | $7.39B | $2.48B |
| Total debt | $49.5B | $43.9B | $33.6B | $25.2B | $16.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Lilly (Eli) LLY | $1.27T | +43% | +46% | 51% | 28.9× | 5.9% |
| Novo Nordisk A/S NOVO-B.CO | $190B | -7% | +6% | 48% | 11.9× | 0.1% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Merck & MRK | $362B | +33% | +5% | 18% | 17.4× | 4.1% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | LLY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.8% | +9.3% | 6th highest of 21 |
| 6-month return | +43.0% | +19.6% | 3rd highest of 21 |
| Distance from 52-week high | -6.8% | -6.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +45.5% | +5.9% | highest of 21 |
| Operating margin | 51.2% | 27.3% | highest of 21 |
| Forward P/E | 28.9× | 18.2× | 5th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.9% | 2.6% | 7th most demanding of 21 |
| Growth delivered (Del g) | +21.6% | +6.2% | 2nd highest of 21 |
| Hurdle (Req g minus delivered) | -15.7 pp | -4.7 pp | 2nd least demanding of 21 |
| ROIC minus cost of capital | +34.4 pp | +11.2 pp | highest of 21 |
| EV / EBITDA | 28.4× | 13.9× | 3rd most expensive of 18 |
| Net debt / EBITDA | 1.0× | 1.3× | 7th least indebted of 18 |
| Bond spread | 51 bp | 66 bp | 3rd tightest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lilly (Eli) LLY | United States | $1.27T | +43% | +46% | 51% | 28.9× | 5.9% | +21.6% |
| Johnson & Johnson JNJ | United States | $665B | +26% | +8% | 26% | 24.5× | 3.5% | +2.7% |
| AbbVie ABBV | United States | $515B | +45% | +11% | 36% | 18.4× | -0.1% | +6.0% |
| Roche RO.SW | Switzerland | $385B | +22% | -1% | 31% | 19.6× | 0.9% | +1.1% |
| Merck & MRK | United States | $362B | +33% | +5% | 18% | 17.4× | 4.1% | +9.3% |
| Novartis NOVN.SW | Switzerland | $298B | +15% | -4% | 30% | 18.4× | 1.7% | -0.2% |
| AstraZeneca AZN.L | United Kingdom | $291B | +1% | +5% | 23% | 18.3× | 14.5% | +15.7% |
| Novo Nordisk A/S NOVO-B.CO | Denmark | $190B | -7% | +6% | 48% | 11.9× | 0.1% | +19.5% |
| Pfizer PFE | United States | $168B | +14% | +1% | 26% | 10.4× | -4.3% | +8.5% |
| Vertex Pharmaceuticals VRTX | United States | $139B | +27% | +11% | 35% | 29.0× | 6.1% | +14.2% |
| Bristol Myers Squibb BMY | United States | $127B | +12% | +4% | 33% | 9.7× | -12.9% | +2.5% |
| Sanofi SAN.PA | France | $113B | +14% | +15% | 27% | 9.6× | -5.4% | +3.9% |
| GSK GSK.L | United Kingdom | $102B | 0% | +4% | 25% | 10.6× | -0.1% | -0.9% |
| Regeneron Pharmaceuticals REGN | United States | $93.5B | +27% | +19% | 30% | 11.3× | -2.2% | +11.0% |
| Merck KGaA MRK.DE | Germany | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% | +3.8% |
| Chugai Pharmaceutical 4519.T | Japan | $71.0B | -15% | +17% | 50% | 22.1× | 3.6% | +9.8% |
| WuXi AppTec 603259.SS | China | $67.0B | +34% | +32% | 43% | 18.1× | 7.8% | +22.3% |
| Takeda Pharmaceutical 4502.T | Japan | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% | +7.1% |
| Bayer BAYN.DE | Germany | $61.2B | +46% | -2% | 14% | 12.3× | 2.1% | +1.9% |
| Galderma GALD.SW | Switzerland | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% | +6.4% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | China | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% | +2.7% |
Lilly (Eli) has 54 bonds outstanding with $49.1B face value. The agencies rate it AA-; its bonds trade like AA+. Weighted yield 5.20%, a spread of 51 bp over government bonds.