Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Lilly (Eli)

LLY stock analysis · Health Care · Pharmaceuticals

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$1,199.43HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$1.1T

Price × SEC outstanding shares. Shares measured 2026-04-27. Approximate; share and price dates can differ.

View share-count filing ↗
Reviewed debt balance

Reviewed consolidated balance-sheet debt: current debt 1635000000 plus noncurrent debt 40868000000, in USD. Includes current borrowings/current maturities already reported in the current debt line; current borrowings are included once in the capital calculation. Uses debt carrying amounts as presented, including financing leases only where included by the issuer; excludes operating leases and trade/insurance liabilities. This is a book-capital proxy, not fair value or a claim that every other liability is financing debt. Applies only to this reviewed fiscal period. Read the financial statement ↗

Valuation

DCF value

$144.70

Equity cash-flow scenario · SEC outstanding shares at 2026-04-27 · -87.9% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

65.6%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-68.2%

5 industry peers · median 17.4×

How this is calculated ↗
Valuation

Historical multiples

62.3×

7 annual observations · snapshot P/E 54.7× · -12.1% versus history

How this is calculated ↗
Valuation

Free cash flow yield

0.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

Requires two adjacent years of positive average capital, equity, cash, debt and operating income.

Requires two adjacent years of positive average capital, equity, cash, debt and operating income.

How this is calculated ↗
Valuation

Value composite

5/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

42.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

4.0%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 16.8B2020-12-31: cfo $6,499,600,000.002020-12-31: capex $1,387,900,000.0020202021-12-31: cfo $7,365,900,000.002021-12-31: capex $1,309,800,000.0020212022-12-31: cfo $7,585,700,000.002022-12-31: capex $1,854,300,000.0020222023-12-31: cfo $4,240,000,000.002023-12-31: capex $3,448,000,000.0020232024-12-31: cfo $8,818,000,000.002024-12-31: capex $5,058,000,000.0020242025-12-31: cfo $16,813,000,000.002025-12-31: capex $7,841,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$181.50$198.03$215.81
10.0%$133.00$144.70$157.27
12.0%$104.93$113.86$123.43

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3165.2B20.6B16.8B7.8B112.5B
2024-12-3145B10.6B8.8B5.1B78.7B
2023-12-3134.1B5.2B4.2B3.4B64B
2022-12-3128.5B6.2B7.6B1.9B49.5B
2021-12-3128.3B5.6B7.4B1.3B48.8B
2020-12-3124.5B6.2B6.5B1.4B46.6B
2019-12-3122.3B8.3B4.8B1B39.3B
2018-12-3121.5B3.2B5.5B1.2B43.9B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue65.2BRevenues2026-02-12
netIncome20.6BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent/common earnings proxy20.6BNetIncomeLoss2026-02-12
cfo16.8BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex7.8BPaymentsToAcquireOtherPropertyPlantAndEquipment
Purchases of property and equipment; excludes acquired in-process R&D and business acquisitions.
2026-02-12
operatingIncomeNot reported under a supported tag
assets112.5BAssets2026-02-12
equity26.5BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent book equity proxy26.5BStockholdersEquity2026-02-12
debt42.5BReviewed manual correction
Reviewed consolidated balance-sheet debt: current debt 1635000000 plus noncurrent debt 40868000000, in USD. Includes current borrowings/current maturities already reported in the current debt line; current borrowings are included once in the capital calculation. Uses debt carrying amounts as presented, including financing leases only where included by the issuer; excludes operating leases and trade/insurance liabilities. This is a book-capital proxy, not fair value or a claim that every other liability is financing debt. Applies only to this reviewed fiscal period.
2026-02-12
shortDebtNot reported under a supported tag
cash7.3BCashAndCashEquivalentsAtCarryingValue2026-02-12
shares899.3MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividends5.4BPaymentsOfDividends2026-02-12
buybacks4.1BPaymentsForRepurchaseOfCommonStock2026-02-12
issuanceNot reported under a supported tag