Valuation, from the filing
| Public float | $807.89B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $856.40 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 39.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 12.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 30.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
39.1× earnings today, against a median of 34.7× across 9 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $807.89B | 39.1× | |
| 2024-06-30 | $769.79B | 72.7× | |
| 2023-06-30 | $398.29B | 76.0× | |
| 2022-06-30 | $274.34B | 43.9× | |
| 2021-06-30 | $193.65B | 34.7× | |
| 2020-06-30 | $138.91B | 22.4× | |
| 2019-06-30 | $93.17B | 11.2× | |
| 2018-06-30 | $78.20B | 24.2× | |
| 2016-06-30 | $76.78B | 28.0× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| SBC / revenue | 1.0% | 4th | |
| Net margin | 31.7% | 92th | |
| Long-term debt / equity | 1.54x | 90th | |
| Current ratio | 1.58x | 23th | |
| Revenue YoY growth | 44.7% | 74th | |
| Gross margin | 83.0% | 71th | |
| Effective tax rate | 19.8% | 58th |
ELI LILLY & Co (LLY) reported revenue of $24.40B and net income of $6.45B for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from ELI LILLY & Co’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.40B | $22.97B | $19.80B | $19.29B | $17.60B | $15.56B | $12.73B | $13.53B | $11.44B | $11.30B |
| Cost of revenue | $3.93B | $3.27B | $3.58B | $3.37B | $3.01B | $2.45B | $2.22B | $2.40B | $2.17B | $2.17B |
| Gross profit | $20.46B | $19.71B | $16.22B | $15.92B | $14.59B | $13.11B | $10.50B | $11.13B | $9.27B | $9.13B |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $6.45B | $7.10B | $7.40B | $6.64B | $5.58B | $5.66B | $2.76B | $4.41B | $970.30M | $2.97B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 893.40M | shares 893.70M | shares 895.90M | Unavailable | shares 898.80M | shares 899.80M | shares 900.60M | Unavailable | shares 905.00M | shares 904.20M |
| Pretax income | $8.41B | $9.25B | $8.85B | $8.27B | $7.23B | $6.78B | $3.46B | $5.04B | $1.59B | $3.52B |
| Income tax expense | $1.96B | $2.15B | $1.45B | $1.63B | $1.65B | $1.12B | $697.00M | $628.50M | $618.10M | $550.20M |
| Diluted EPS | $7.22 | $7.94 | $8.26 | Unavailable | $6.21 | $6.29 | $3.06 | Unavailable | $1.07 | $3.28 |
| Selling, general & administrative | $3.12B | $3.43B | $2.93B | $3.13B | $2.74B | $2.75B | $2.47B | $2.42B | $2.10B | $2.12B |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.88B | $8.95B | $5.28B | $7.27B | $9.79B | $3.38B | $3.09B | $3.27B | $3.37B | $3.22B |
| Total assets | $148.07B | $142.28B | $116.58B | $112.48B | $114.94B | $100.92B | $89.39B | $78.72B | $75.61B | $71.87B |
| Current assets | $65.26B | $64.67B | $54.84B | $55.63B | $62.07B | $49.85B | $41.26B | $32.74B | $31.42B | $30.20B |
| Total liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current liabilities | $47.00B | $47.74B | $36.63B | $35.23B | $40.14B | $39.02B | $30.07B | $28.38B | $24.67B | $27.12B |
| Total equity incl. NCI | $40.27B | $33.88B | $31.20B | $26.54B | $23.85B | $18.35B | $15.85B | $14.27B | $14.32B | $13.64B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $18.19B | $16.79B | $14.53B | $13.74B | $12.18B | $11.01B | $9.31B | $7.59B | $7.46B | $6.48B |
| Accounts receivable | $22.09B | $20.08B | $18.43B | $17.76B | $16.11B | $14.17B | $12.04B | $11.01B | $10.29B | $11.03B |
| Goodwill | $9.87B | $8.85B | $6.13B | $5.90B | $5.90B | $5.77B | $5.77B | $5.77B | $5.77B | $5.77B |
| Long-term debt | $46.99B | $47.86B | $39.37B | $40.87B | $40.87B | $34.18B | $34.50B | $28.53B | $29.05B | $23.73B |
| Accounts payable | $5.79B | $6.11B | $5.03B | $5.38B | $4.26B | $4.08B | $3.44B | $3.23B | $2.89B | $2.92B |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.40B | $10.69B | $5.33B | $3.22B | $8.84B | $3.09B | $1.67B | $2.47B | $3.71B | $1.47B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | -$8.30B | -$15.40B | -$3.92B | -$2.80B | -$2.98B | -$1.83B | -$3.35B | -$1.92B | -$4.00B | -$2.20B |
| Financing cash flow | -$7.22B | $8.43B | -$3.47B | -$2.88B | $531.00M | -$1.24B | $1.38B | -$225.50M | $211.30M | $1.56B |
| Net change in cash | -$4.06B | $3.67B | -$1.99B | -$2.52B | $6.42B | $283.00M | -$175.00M | -$101.40M | $145.40M | $763.40M |
| Stock-based compensation | $200.00M | $201.00M | $161.00M | $136.00M | $151.00M | $185.00M | $154.00M | $142.30M | $133.20M | $211.10M |
| Common dividends paid | $1.54B | $1.55B | $1.55B | $1.34B | $1.35B | $1.35B | $1.35B | $1.17B | $1.17B | $1.17B |
| Common share repurchases | $377.00M | $1.60B | $2.36B | $1.51B | $708.00M | $692.00M | $1.20B | $2.05B | $446.10M | $0 |
| Depreciation & amortization | $545.00M | $534.00M | $509.00M | $586.00M | $470.00M | $478.00M | $463.00M | $485.20M | $466.80M | $414.40M |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 83.9% | 85.8% | 81.9% | 82.5% | 82.9% | 84.3% | 82.5% | 82.2% | 81.0% | 80.8% |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.8% | 0.9% | 0.8% | 0.7% | 0.9% | 1.2% | 1.2% | 1.1% | 1.2% | 1.9% |
| Current ratio | 1.39x | 1.35x | 1.50x | 1.58x | 1.55x | 1.28x | 1.37x | 1.15x | 1.27x | 1.11x |
| Revenue YoY growth | 38.6% | 47.7% | 55.5% | 42.6% | 53.9% | 37.6% | 45.2% | 44.7% | 20.4% | 36.0% |
| Net margin | 26.4% | 30.9% | 37.4% | 34.4% | 31.7% | 36.4% | 21.7% | 32.6% | 8.5% | 26.3% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 1.17x | 1.41x | 1.26x | 1.54x | 1.71x | 1.86x | 2.18x | 2.00x | 2.03x | 1.74x |
| Effective tax rate | 23.3% | 23.3% | 16.4% | 19.7% | 22.8% | 16.5% | 20.2% | 12.5% | 38.9% | 15.6% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LLY in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.