Eli Lilly and Company Financials
Eli Lilly and Company (LLY) reported $65.2B in revenue for fiscal year 2025, up 44.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Scale is amplifying profitability: Eli Lilly turned rising sales into much richer margins while still funding heavy reinvestment.
Between FY2024 and FY2025, receivables and inventory absorbed about$12.9B of additional capital, showing that faster growth is tying more cash up inside the operating cycle. That helps explain why operating cash flow reached$16.8B while net income was$20.6B , so the earnings surge was real but not fully cash-converted in the same year.
Margin expansion was not driven by starving the pipeline: gross margin climbed from
Leverage is still meaningful, but the capital structure became less stretched as debt-to-equity improved from 2.0x in FY2024 to 1.5x in FY2025. Liquidity also eased, with the current ratio moving from 0.9x in FY2023 to 1.6x in FY2025, so recent growth strengthened the short-term cushion instead of only enlarging the asset base.
Financial Health Signals
Eli Lilly and Company does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Eli Lilly and Company passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Eli Lilly and Company generates $0.81 in operating cash flow ($16.8B OCF vs $20.6B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Eli Lilly and Company generated $65.2B in revenue in fiscal year 2025. This represents an increase of 44.7% from the prior year.
Eli Lilly and Company reported $20.6B in net income in fiscal year 2025. This represents an increase of 94.9% from the prior year.
Eli Lilly and Company earned $22.95 per diluted share (EPS) in fiscal year 2025. This represents an increase of 96.0% from the prior year.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Eli Lilly and Company held $7.3B in cash against $40.9B in long-term debt as of fiscal year 2025.
Eli Lilly and Company paid $6.23 per share in dividends in fiscal year 2025. This represents an increase of 15.4% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Eli Lilly and Company's gross margin was 83.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.7 percentage points from the prior year.
Eli Lilly and Company's net profit margin was 31.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.2 percentage points from the prior year.
Eli Lilly and Company's ROE was 77.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Eli Lilly and Company invested $13.3B in research and development in fiscal year 2025. This represents an increase of 21.3% from the prior year.
Eli Lilly and Company spent $4.1B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 64.3% from the prior year.
Not reported for fiscal year 2025.
LLY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.7B | $65.2B+44.7% | $45.0B+32.0% | $34.1B+19.6% | $28.5B+0.8% | $28.3B+15.4% | $24.5B+9.9% | $22.3B+3.8% | $21.5B+7.6% | $20.0B+9.1% | $18.3B-8.2% | $20.0B+1.7% | $19.6B-15.1% | $23.1B+2.3% | $22.6B-6.9% | $24.3B |
| Cost of Revenue | $13.2B | $11.1B+31.3% | $8.4B+18.9% | $7.1B+6.8% | $6.6B-9.3% | $7.3B+33.4% | $5.5B+16.1% | $4.7B+0.8% | $4.7B+5.3% | $4.4B+6.9% | $4.2B-17.4% | $5.0B+2.1% | $4.9B+0.5% | $4.9B+2.3% | $4.8B-5.4% | $5.1B |
| Gross Profit | $66.4B | $54.1B+47.8% | $36.6B+35.4% | $27.0B+23.4% | $21.9B+4.3% | $21.0B+10.2% | $19.1B+8.3% | $17.6B+4.7% | $16.8B+8.3% | $15.5B+9.7% | $14.2B-5.2% | $14.9B+1.6% | $14.7B-19.3% | $18.2B+2.2% | $17.8B-7.3% | $19.2B |
| R&D Expenses | $14.6B | $13.3B+21.3% | $11.0B+18.0% | $9.3B+29.5% | $7.2B+3.8% | $6.9B+16.0% | $6.0B+6.8% | $5.6B+10.8% | $5.1B-0.9% | $5.1B+1.1% | $5.0B+5.1% | $4.8B+1.3% | $4.7B-14.4% | $5.5B+4.8% | $5.3B+5.1% | $5.0B |
| SG&A Expenses | $12.2B | $11.1B+29.1% | $8.6B+16.1% | $7.4B+15.0% | $6.4B+0.1% | $6.4B+5.1% | $6.1B-1.5% | $6.2B+4.0% | $6.0B-0.1% | $6.0B+2.4% | $5.8B-10.6% | $6.5B-1.3% | $6.6B-7.1% | $7.1B-5.2% | $7.5B-4.6% | $7.9B |
| Interest Expense | N/A | $895.0M+14.6% | $781.0M+60.7% | $485.9M+46.5% | $331.6M-2.4% | $339.8M-5.5% | $359.6M-10.2% | $400.6M+65.2% | $242.5M+7.8% | $225.0M+21.5% | $185.2M+14.9% | $161.2M+8.3% | $148.8M-7.1% | $160.1M-10.0% | $177.8M-4.4% | $186.0M |
| Income Tax | $6.9B | $5.1B+143.6% | $2.1B+59.1% | $1.3B+134.0% | $561.6M-2.1% | $573.8M-44.6% | $1.0B+65.0% | $628.0M+18.6% | $529.5M-77.9% | $2.4B+333.7% | $551.4M+44.5% | $381.6M-37.4% | $609.8M-49.4% | $1.2B-8.7% | $1.3B+31.7% | $1.0B |
| Net Income | $26.7B | $20.6B+94.9% | $10.6B+102.1% | $5.2B-16.1% | $6.2B+11.9% | $5.6B-9.9% | $6.2B-25.5% | $8.3B+157.4% | $3.2B+1683.5% | -$204.1M-107.5% | $2.7B+13.7% | $2.4B+0.7% | $2.4B-49.0% | $4.7B+14.6% | $4.1B-6.0% | $4.3B |
| EPS (Diluted) | — | $22.95+96.0% | $11.71+101.9% | $5.80-15.9% | $6.90+12.7% | $6.12-9.9% | $6.79-23.6% | $8.89+184.0% | $3.13+1747.4% | -$0.19-107.4% | $2.58+14.2% | $2.26+1.3% | $2.23-48.4% | $4.32+18.0% | $3.66-6.2% | $3.90 |
Not reported in any period shown, so not listed: Operating Income.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
LLY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $112.5B+42.9% | $78.7B+23.0% | $64.0B+29.3% | $49.5B+1.4% | $48.8B+4.7% | $46.6B+18.7% | $39.3B-10.5% | $43.9B-2.4% | $45.0B+15.9% | $38.8B+9.1% | $35.6B-2.0% | $36.3B+3.0% | $35.2B+2.5% | $34.4B+2.2% | $33.7B |
| Current Assets | $55.6B+69.9% | $32.7B+27.3% | $25.7B+42.7% | $18.0B-2.3% | $18.5B+5.7% | $17.5B+27.4% | $13.7B-33.3% | $20.5B+7.0% | $19.2B+27.2% | $15.1B+20.1% | $12.6B+5.4% | $11.9B-9.0% | $13.1B+0.5% | $13.0B-8.5% | $14.2B |
| Cash & Equivalents | $7.3B+122.4% | $3.3B+15.9% | $2.8B+36.4% | $2.1B-45.9% | $3.8B+4.4% | $3.7B+56.5% | $2.3B-68.1% | $7.3B+17.9% | $6.2B+35.6% | $4.6B+25.0% | $3.7B-5.3% | $3.9B+1.1% | $3.8B-4.7% | $4.0B-32.1% | $5.9B |
| Inventory | $13.7B+81.1% | $7.6B+31.5% | $5.8B+33.9% | $4.3B+10.9% | $3.9B-2.4% | $4.0B+24.7% | $3.2B+3.0% | $3.1B-8.8% | $3.4B-4.7% | $3.6B+3.4% | $3.4B+25.8% | $2.7B-6.4% | $2.9B+10.8% | $2.6B+15.0% | $2.3B |
| Accounts Receivable | $17.8B+61.4% | $11.0B+21.1% | $9.1B+31.8% | $6.9B+3.3% | $6.7B+13.6% | $5.9B+29.2% | $4.5B-1.0% | $4.6B+15.5% | $4.0B-1.3% | $4.0B+14.7% | $3.5B+8.6% | $3.2B-5.8% | $3.4B+2.9% | $3.3B-7.3% | $3.6B |
| Goodwill | $5.9B+2.2% | $5.8B+16.8% | $4.9B+21.3% | $4.1B+4.7% | $3.9B+3.3% | $3.8B+2.4% | $3.7B+169.2% | $1.4B-0.8% | $1.4B-65.3% | $4.0B-1.7% | $4.0B+129.8% | $1.8B+15.9% | $1.5B+1.0% | $1.5B+4.6% | $1.4B |
| Total Liabilities | $85.9B+33.4% | $64.4B+21.1% | $53.2B+37.1% | $38.8B-2.5% | $39.8B-2.8% | $41.0B+11.8% | $36.7B+7.6% | $34.1B+2.1% | $33.4B+34.6% | $24.8B+18.1% | $21.0B+0.3% | $20.9B+18.8% | $17.6B-10.3% | $19.6B-2.4% | $20.1B |
| Current Liabilities | $35.2B+24.1% | $28.4B+4.0% | $27.3B+59.3% | $17.1B+13.9% | $15.1B+20.6% | $12.5B+6.0% | $11.8B-0.9% | $11.9B-18.2% | $14.5B+32.3% | $11.0B+33.5% | $8.2B-15.5% | $9.7B+9.2% | $8.9B+6.3% | $8.4B-6.1% | $8.9B |
| Long-Term Debt | $40.9B+43.3% | $28.5B+55.7% | $18.3B+24.3% | $14.7B-4.0% | $15.3B-7.5% | $16.6B+20.0% | $13.8B+50.3% | $9.2B-7.5% | $9.9B+18.8% | $8.4B+5.0% | $8.0B+49.5% | $5.3B+27.0% | $4.2B-23.9% | $5.5B+1.0% | $5.5B |
| Total Equity | $26.5B+85.9% | $14.3B+32.5% | $10.8B+1.1% | $10.6B+18.6% | $9.0B+59.2% | $5.6B+116.4% | $2.6B-73.5% | $9.8B-15.2% | $11.6B-17.2% | $14.0B-3.9% | $14.6B-5.2% | $15.4B-12.8% | $17.6B+19.4% | $14.8B+9.0% | $13.5B |
| Retained Earnings | $24.5B+80.7% | $13.5B+31.3% | $10.3B+2.7% | $10.0B+12.1% | $9.0B+14.4% | $7.8B+59.1% | $4.9B-56.8% | $11.4B-18.0% | $13.9B-13.4% | $16.0B+0.2% | $16.0B-2.9% | $16.5B-3.0% | $17.0B+5.6% | $16.1B+8.0% | $14.9B |
LLY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $28.1B | $16.8B+90.7% | $8.8B+108.0% | $4.2B-44.1% | $7.6B+3.0% | $7.4B+13.3% | $6.5B+34.4% | $4.8B-12.5% | $5.5B-1.6% | $5.6B+15.8% | $4.9B+63.6% | $3.0B-33.5% | $4.5B-22.3% | $5.7B+8.1% | $5.3B-26.7% | $7.2B |
| Investing Cash Flow | -$25.1B | -$11.0B-18.0% | -$9.3B-30.0% | -$7.2B-90.1% | -$3.8B-31.2% | -$2.9B-26.9% | -$2.3B+72.1% | -$8.1B-524.1% | $1.9B+150.4% | -$3.8B-20.5% | -$3.1B-11813.1% | $26.8M+100.7% | -$3.9B-88.6% | -$2.1B+26.8% | -$2.8B+41.3% | -$4.8B |
| Financing Cash Flow | $2.6B | -$2.2B-279.9% | $1.2B-64.8% | $3.5B+164.7% | -$5.4B-30.9% | -$4.1B-31.7% | -$3.1B-35.0% | -$2.3B+60.6% | -$5.9B-4240.9% | $142.6M+125.5% | -$559.8M+82.0% | -$3.1B-1769.6% | -$166.4M+95.7% | -$3.8B+13.4% | -$4.4B-86.5% | -$2.4B |
| Dividends Paid | $5.8B | $5.4B+15.0% | $4.7B+15.0% | $4.1B+15.1% | $3.5B+14.5% | $3.1B+14.9% | $2.7B+11.5% | $2.4B+4.2% | $2.3B+5.5% | $2.2B+1.6% | $2.2B+1.5% | $2.1B+1.2% | $2.1B-0.9% | $2.1B-3.0% | $2.2B+0.3% | $2.2B |
| Share Buybacks | $6.2B | $4.1B+64.3% | $2.5B+233.3% | $750.0M-50.0% | $1.5B+20.0% | $1.3B+150.0% | $500.0M-88.6% | $4.4B+6.0% | $4.2B+1284.5% | $299.8M-50.0% | $600.1M-19.9% | $749.5M-6.3% | $800.0M-52.9% | $1.7B+135.5% | $721.1M | $0 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
LLY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.0%+1.7pp | 81.3%+2.1pp | 79.3%+2.5pp | 76.8%+2.6pp | 74.2%-3.5pp | 77.7%-1.2pp | 78.8%+0.6pp | 78.2%+0.5pp | 77.7%+0.4pp | 77.3%+2.5pp | 74.8%-0.1pp | 74.9%-3.9pp | 78.8%0.0pp | 78.8%-0.4pp | 79.1% |
| Net Margin | 31.7%+8.2pp | 23.5%+8.2pp | 15.4%-6.5pp | 21.9%+2.2pp | 19.7%-5.5pp | 25.2%-12.0pp | 37.3%+22.2pp | 15.0%+16.1pp | -1.0%-16.0pp | 14.9%+2.9pp | 12.1%-0.1pp | 12.2%-8.1pp | 20.3%+2.2pp | 18.1%+0.2pp | 17.9% |
| Return on Equity | 77.8%+3.6pp | 74.2%+25.6pp | 48.6%-10.0pp | 58.6%-3.5pp | 62.2%-47.6pp | 109.8%-209.3pp | 319.1%+286.2pp | 32.9%+34.6pp | -1.8%-21.3pp | 19.5%+3.0pp | 16.5%+1.0pp | 15.6%-11.0pp | 26.6%-1.1pp | 27.7%-4.4pp | 32.1% |
| Return on Assets | 18.4%+4.9pp | 13.5%+5.3pp | 8.2%-4.4pp | 12.6%+1.2pp | 11.4%-1.8pp | 13.3%-7.9pp | 21.2%+13.8pp | 7.4%+7.8pp | -0.4%-7.5pp | 7.0%+0.3pp | 6.8%+0.2pp | 6.6%-6.7pp | 13.3%+1.4pp | 11.9%-1.0pp | 12.9% |
| Current Ratio | 1.58+0.4x | 1.15+0.2x | 0.94-0.1x | 1.05-0.2x | 1.23-0.2x | 1.40+0.2x | 1.16-0.6x | 1.73+0.4x | 1.32-0.1x | 1.37-0.2x | 1.53+0.3x | 1.22-0.2x | 1.47-0.1x | 1.550.0x | 1.60 |
| Debt-to-Equity | 1.54-0.5x | 2.00+0.3x | 1.70+0.3x | 1.38-0.3x | 1.71-1.2x | 2.94-2.4x | 5.30+4.4x | 0.94+0.1x | 0.86+0.3x | 0.60+0.1x | 0.55+0.2x | 0.35+0.1x | 0.24-0.1x | 0.370.0x | 0.40 |
Not reported in any period shown, so not listed: Operating Margin, FCF Margin.
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Where Eli Lilly and Company Ranks
Frequently Asked Questions
What is Eli Lilly and Company's annual revenue?
Eli Lilly and Company (LLY) reported $65.2B in total revenue for fiscal year 2025. This represents a 44.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Eli Lilly and Company's revenue growing?
Eli Lilly and Company (LLY) revenue grew by 44.7% year-over-year, from $45.0B to $65.2B in fiscal year 2025.
Is Eli Lilly and Company profitable?
Yes, Eli Lilly and Company (LLY) reported a net income of $20.6B in fiscal year 2025, with a net profit margin of 31.7%.
How much debt does Eli Lilly and Company have?
As of fiscal year 2025, Eli Lilly and Company (LLY) had $7.3B in cash and equivalents against $40.9B in long-term debt.
What is Eli Lilly and Company's gross margin?
Eli Lilly and Company (LLY) had a gross margin of 83.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Eli Lilly and Company's net profit margin?
Eli Lilly and Company (LLY) had a net profit margin of 31.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Eli Lilly and Company pay dividends?
Yes, Eli Lilly and Company (LLY) paid $6.23 per share in dividends during fiscal year 2025.
What is Eli Lilly and Company's return on equity (ROE)?
Eli Lilly and Company (LLY) has a return on equity of 77.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Eli Lilly and Company's operating cash flow?
Eli Lilly and Company (LLY) generated $16.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Eli Lilly and Company's total assets?
Eli Lilly and Company (LLY) had $112.5B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Eli Lilly and Company spend on research and development?
Eli Lilly and Company (LLY) invested $13.3B in research and development during fiscal year 2025.
What is Eli Lilly and Company's current ratio?
Eli Lilly and Company (LLY) had a current ratio of 1.58 as of fiscal year 2025, which is generally considered healthy.
What is Eli Lilly and Company's debt-to-equity ratio?
Eli Lilly and Company (LLY) had a debt-to-equity ratio of 1.54 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Eli Lilly and Company's return on assets (ROA)?
Eli Lilly and Company (LLY) had a return on assets of 18.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Eli Lilly and Company's Piotroski F-Score?
Eli Lilly and Company (LLY) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Eli Lilly and Company's earnings high quality?
Eli Lilly and Company (LLY) has an earnings quality ratio of 0.81x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.