Eli Lilly
Develops cardiometabolic, cancer, immunology, and neuroscience medicines led by tirzepatide.
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Profile
Develops prescription medicines for cardiometabolic disease, cancer, immune disorders, and neuroscience, earning revenue mainly from global product sales. Mounjaro and Zepbound drive most revenue, tying results to tirzepatide demand, manufacturing capacity, payer coverage, pricing, patent protection, and regulatory approvals.
Develops and commercializes prescription medicines across cardiometabolic health, oncology, immunology, and neuroscience. Mounjaro and Zepbound, two brands for tirzepatide, anchor diabetes and obesity care; Foundayo adds an oral obesity treatment. Verzenio, Jaypirca, Taltz, Ebglyss, Omvoh, Emgality, and Kisunla extend the portfolio into cancer, immune disorders, migraine, and Alzheimer's disease.
Combines internal discovery and clinical development with licensing and acquisitions, then manufactures and distributes products through facilities in the United States, Europe, and Asia. Medicines are sold in about 90 countries, while the United States supplies most revenue.
Revenue is concentrated in Mounjaro and Zepbound. Commercial performance depends on regulatory approvals, patent protection, payer coverage and pricing, and reliable manufacturing capacity; U.S. distribution is also concentrated among a small group of large wholesalers.
Company facts
Categories
Key statistics
Year to date +8.7% · Average volume (30d) 2.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 7, 2026 | UBS | Target | $1,425 | $1,376 | |
| Aug 6, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $1,350 | $1,410 |
| Aug 6, 2026 | Morgan Stanley | Reiterate | Overweight | $1,347 | $1,419 |
| Aug 6, 2026 | Wells Fargo | Reiterate | Overweight | $1,280 | $1,330 |
| Aug 6, 2026 | BMO Capital | Reiterate | Outperform | $1,300 | $1,400 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $6.40 | $8.38 | +30.9% | $20.82B | $22.97B | +10.3% | +4.86% |
| Apr 30, 2026Q1 FY26 | $6.97 | $8.55 | +22.7% | $17.82B | $19.80B | +11.1% | +3.07% |
| Feb 4, 2026Q4 FY25 | $6.91 | $7.54 | +9.1% | $17.94B | $19.29B | +7.5% | −7.79% |
| Oct 30, 2025Q3 FY25 | $5.69 | $7.02 | +23.4% | $16.05B | $17.60B | +9.6% | +2.17% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $12.73B | $15.56B | $17.60B | $19.29B | $19.80B | $22.97B | |
| Gross profit | $10.50B | $13.11B | $14.59B | $16.41B | $16.22B | $19.71B | |
| Operating income | $5.41B | $7.13B | $8.39B | $8.78B | $8.85B | $8.98B | |
| Net income | $2.76B | $5.66B | $5.58B | $6.64B | $7.40B | $7.10B | |
| Diluted EPS | $3.06 | $6.29 | $6.21 | $7.39 | $8.26 | $7.94 | |
| Gross margin | 82.5% | 84.3% | 82.9% | 85.1% | 81.9% | 85.8% | |
| Operating margin | 42.5% | 45.8% | 47.6% | 45.5% | 44.7% | 39.1% |
Fiscal years (4-quarter sums)FY21 $28.32B · FY22 $28.54B · FY23 $34.12B · FY24 $45.04B · FY25 $65.18B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $8.95B · Total debt $54.91B · Total assets $142.28B · Shareholders' equity $33.88B
Dividends
Raised for 52 straight years — most recently to $1.73 from $1.50 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 10 | $1.73 | |
| May 15, 2026 | May 15 | Jun 10 | $1.73 | |
| Feb 13, 2026 | Feb 13 | Mar 10 | $1.73 | raised from $1.50 |
| Nov 14, 2025 | Nov 14 | Dec 10 | $1.50 | |
| Aug 15, 2025 | Aug 15 | Sep 10 | $1.50 | |
| May 16, 2025 | May 16 | Jun 10 | $1.50 | |
| Feb 14, 2025 | Feb 14 | Mar 10 | $1.50 | raised from $1.30 |
| Nov 15, 2024 | Nov 15 | Dec 10 | $1.30 |
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 941.74M · Float 848.69M · 90.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lilly Endowment Inc | 90.38M | 9.60% | 13F | Jul 23, 2026 |
| BlackRock, Inc. | 67.54M | 7.17% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 53.53M | 5.68% | 13F | Aug 13, 2026 |
| PNC Financial Services Group, Inc. | 51.32M | 5.45% | 13F | Aug 7, 2026 |
| State Street Corp | 36.22M | 3.85% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Patrik Jonsson | officer: EVP & President, LLY Int'l | −6,500 | $1,175.10 |
| Aug 10, 2026 | Donald A. Zakrowski | officer: SVP, Finance, & CAO | −2,000 | $1,185.01 |
| Aug 7, 2026 | Anat Hakim | officer: EVP, GC & Secretary | −5,000 | $1,190.00 |
| Jun 10, 2026 | Ilya Yuffa | officer: EVP&Pres, LLY USA&Global Capab | −2,500 | $1,150.77 |
| May 6, 2026 | Lilly Endowment Inc | other: Former 10% Shareholder | −15,828 | $995.36 |
Peers
- Novo Nordisk (ADR)
Primary GLP-1/GIP rival; semaglutide vs tirzepatide in obesity and diabetes.
- Merck
Keytruda dominates immuno-oncology, overlapping the Loxo-built cancer portfolio.
- AstraZeneca (ADR)
Broad oncology overlap in lung, breast, and blood cancers; SGLT-2 diabetes too.
- Novartis (ADR)
Kisqali vs Verzenio in CDK4/6 breast cancer; Pluvicto vs Lilly radioligand.
- Pfizer
Ibrance ceding CDK4/6 ground to Verzenio; next-gen atirmociclib in late trials.
- Bristol-Myers Squibb
Opdivo and Breyanzi contest Lilly's immuno-oncology and CAR-T pipeline.
- Biogen
Leqembi (lecanemab) is the only approved anti-amyloid rival to Kisunla.
- Amgen
MariTide Phase 3 program enters obesity and diabetes space as Zepbound rival.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Eli Lilly | $1,173.00 | −0.08% | $1.10T | 39.4 | 28.7 | 13.9 | +47.7% |
| Novo Nordisk (ADR) | $45.60 | +0.00% | $202.54B | 11.2 | 18.4 | 4.0 | +0.0% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| AstraZeneca (ADR) | $161.79 | −0.55% | $252.33B | 24.4 | 15.2 | 4.1 | +6.4% |
| Novartis (ADR) | $153.81 | 0.00% | $292.35B | 23.2 | 16.4 | 5.3 | +0.9% |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Biogen | $218.19 | −0.14% | $32.28B | 38.7 | 16.5 | 3.2 | +3.4% |
| Amgen | $430.27 | −0.49% | $233.38B | 26.9 | 18.4 | 6.1 | +9.7% |
| Median | 25.7 | 16.5 | 4.0 | +4.2% |