Eli Lilly and Company (LLY) stock analysis
Company overview and business model
Source fact: 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; strategic collaboration with Ascidian Therapeutics for development of therapies for undisclosed monogenic kidney diseases; and BioArctic AB (publ) for new treatment. Eli Lilly and Company was founded in 1876 and is headquartered in Indianapolis, Indiana.
Classification: NYSE · Healthcare · Drug Manufacturers - General
Revenue and growth
Source fact: Revenue was USD 65.18 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +44.7% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 20.64 billion in the latest reported period.
Source metric: Reported net margin was 31.7%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 7.27 billion.
Source fact: Total debt was USD 42.50 billion.
Source metric: Current ratio was 1.58x.
Cash-flow analysis
Source fact: Operating cash flow was USD 16.81 billion.
Source fact: Free cash flow was USD 5.96 billion.
Valuation
Source metrics: Trailing P/E 42.21x; Forward P/E 26.52x; Price to book 33.04x; Price to sales 14.05x; EV/EBITDA 27.70x.
Caverian model output: Value score was 27/100.
Competitive position
Classification: Peer context: Drug Manufacturers - General within Healthcare.
Caverian model output: Quality score was 81/100.
Caverian model output: Growth score was 92/100.
Material risks
Caverian calculation: Altman Z-score was 9.79 (safe zone).
Caverian calculation: Piotroski F-score was 7/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles