Elanco Animal Health
Develops medicines, vaccines, and feed products for pets and farm animals.
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Profile
Develops medicines, vaccines, parasiticides, and feed products for pets and farm animals across one reportable segment. Pet Health and Farm Animal contribute roughly equal revenue, sales are split about evenly between U.S. and international markets, and product approvals, safety oversight, livestock-use rules, and acquisition debt shape the business.
Develops medicines, vaccines, parasiticides, and feed products for pets and farm animals under roughly 200 brands. Pet Health includes Advantage, Seresto, Credelio, Zenrelia, and Credelio Quattro, while Farm Animal includes Rumensin, Maxiban/Monteban, and Bovaer. Both categories sit inside one reportable segment.
Sales are split roughly half between the United States and international markets. The portfolio spans canine and feline care alongside cattle, poultry, and swine health, with recent launches extending pet therapeutics, parasite control, and livestock sustainability products.
Product approvals, safety oversight, and livestock-use rules shape market access. Seresto remains registered with enhanced EPA reporting and label conditions, while the Bayer combination left acquisition debt addressed through portfolio sales, repayment, and refinancing.
Company facts
Key statistics
Year to date +7.1% · Average volume (30d) 7.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | KeyBanc | Reiterate | Overweight | $29 | $30 | |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Equal Weight | $23 | $26 | |
| May 15, 2026 | Morgan Stanley | Target | $22 | $23 | ||
| Feb 25, 2026 | Keybanc | Reiterate | Overweight | $27 | $29 | |
| Feb 24, 2026 | Leerink Partners | Reiterate | Outperform | $18 | $30 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.27 | $0.34 | +26.3% | $1.31B | $1.37B | +4.2% | +2.42% |
| May 6, 2026Q1 FY26 | $0.34 | $0.40 | +17.6% | $1.28B | $1.37B | +7.4% | −8.29% |
| Feb 24, 2026Q4 FY25 | $0.11 | $0.13 | +18.2% | $1.09B | $1.14B | +4.7% | +1.74% |
| Nov 5, 2025Q3 FY25 | $0.13 | $0.19 | +46.2% | $1.09B | $1.14B | +4.1% | −0.37% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.19B | $1.24B | $1.14B | $1.14B | $1.37B | $1.37B | |
| Gross profit | $556.0M | $577.0M | $607.0M | $450.0M | $785.0M | $798.0M | |
| Operating income | $121.0M | $85.0M | $27.0M | $19.0M | $307.0M | $109.0M | |
| Net income | $67.0M | $11.0M | −$34.0M | −$276.0M | $57.0M | $54.0M | |
| Diluted EPS | $0.13 | $0.02 | −$0.07 | −$0.55 | $0.11 | $0.11 | |
| Gross margin | 46.6% | 46.5% | 53.4% | 39.3% | 57.3% | 58.3% | |
| Operating margin | 10.1% | 6.8% | 2.4% | 1.7% | 22.4% | 8.0% |
Fiscal years (4-quarter sums)FY21 $4.77B · FY22 $4.42B · FY23 $4.42B · FY24 $4.44B · FY25 $4.72B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $530.0M · Total debt $3.92B · Total assets $13.56B · Shareholders' equity $6.59B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 499.45M · Float 494.82M · 99.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dodge & Cox | 67.40M | 13.49% | 13F | Aug 13, 2026 |
| FMR LLC | 56.95M | 11.40% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 48.85M | 9.78% | 13F | Aug 7, 2026 |
| Primecap Management Co/CA/ | 45.45M | 9.10% | 13F | Aug 14, 2026 |
| T. Rowe Price Investment Management, Inc. | 28.75M | 5.76% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Lawrence Erik Kurzius | director | +40,000 | $23.40 |
| Aug 18, 2026 | Shiv O'Neill | officer: GC AND CORP SEC | +3,998 | $23.58 |
| Aug 12, 2026 | Michael J. Harrington | director | +5,000 | $21.82 |
| Aug 7, 2026 | Paul Herendeen | director | +10,000 | $23.69 |
| Aug 7, 2026 | Robert M. VanHimbergen | officer: EVP and CFO | +4,200 | $23.08 |
Peers
- Zoetis
Broad global rival across pet and livestock animal health
- Merck
Large animal-health rival in parasiticides and livestock products
- Phibro Animal Health
Focused rival in medicated feed additives and livestock vaccines
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Elanco Animal Health | $24.11 | −0.06% | $12.04B | — | 20.3 | 2.4 | +10.2% |
| Zoetis | $77.47 | +0.23% | $32.42B | 12.7 | 12.5 | 3.4 | +0.3% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Phibro Animal Health | $36.76 | −2.42% | $1.53B | 15.4 | 11.7 | 1.0 | +4.8% |
| Median | 15.4 | 12.5 | 3.4 | +4.8% |