{ "ticker": "LLY", "cik": "0000059478", "company": "Eli Lilly and Company", "business_type": "pharmaceutical manufacturer", "schema_note": "Standard operating-company template (revenue, cost of sales, gross profit, research and development, marketing/selling/administrative, acquired in-process research and development, net income, balance sheet, cash flow). Lilly is a single-reportable-segment pharmaceutical manufacturer, so no segment breakdown is presented; instead the filings' revenue disaggregation by product, therapeutic area, and geography is carried through, along with research and development and acquired in-process research and development as separate lines, because those are the economically important expense categories for this business.", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions)", "units_notes_seen": { "FY2025 10-K consolidated statements of operations": "(Dollars and shares in millions, except per-share data)", "FY2025 10-K consolidated statements of comprehensive income": "(Dollars in millions)", "FY2025 10-K consolidated balance sheets": "(Dollars and shares in millions)", "FY2025 10-K consolidated statements of shareholders' equity": "(Dollars and shares in millions, except per-share data)", "FY2025 10-K consolidated statements of cash flows": "(Dollars in millions)", "FY2025 10-K notes to consolidated financial statements": "(Tables present dollars in millions, except per-share data, and numbers may not add due to rounding)", "FY2025 10-K management's discussion and analysis tables": "(Tables present dollars in millions, except per-share data, and numbers may not add due to rounding)", "Q1 2026 10-Q consolidated condensed statements of operations": "(Dollars and shares in millions, except per-share data)", "Q1 2026 10-Q consolidated condensed balance sheets": "(Dollars in millions)", "Q1 2026 10-Q consolidated condensed statements of cash flows": "(Dollars in millions)", "Q1 2026 10-Q notes to consolidated condensed financial statements": "(Tables present dollars and shares in millions, except per-share data, and numbers may not add due to rounding)" }, "adjustments": { "splits_applied": [], "adr_ratio": null, "fx": "None. Lilly reports in U.S. dollars, so no currency conversion was applied. Foreign-exchange effects on revenue are those disclosed by the company (a 1 percent tailwind to consolidated 2025 revenue growth).", "note": "No stock splits occurred over the periods covered, so per-share figures are directly comparable across years as reported." }, "sources": { "0000059478-26-000013": "Annual report on Form 10-K for the fiscal year ended December 31, 2025, filed February 12, 2026", "0000059478-26-000045": "Quarterly report on Form 10-Q for the quarter ended March 31, 2026, filed April 30, 2026" }, "annual": [ { "fiscal_year": 2025, "period_end": "2025-12-31", "source_accession": "0000059478-26-000013", "income_statement": { "revenue": 65179000000, "cost_of_sales": 11052000000, "gross_profit": 54127000000, "gross_margin_pct": 83.0, "research_and_development": 13337000000, "marketing_selling_and_administrative": 11094000000, "acquired_in_process_research_and_development": 2910000000, "asset_impairment_restructuring_and_other_special_charges": 484000000, 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}, "Oncology": { "us": 1046000000, "outside_us": 902000000, "total": 1948000000 }, "Immunology": { "us": 578000000, "outside_us": 510000000, "total": 1088000000 }, "Neuroscience": { "us": 189000000, "outside_us": 83000000, "total": 272000000 }, "Other": { "us": 100000000, "outside_us": 113000000, "total": 213000000 } } }, "balance_sheet": null, "cash_flow": { "net_income": 2759000000, "depreciation_and_amortization": 463000000, "change_in_deferred_income_taxes": -392000000, "stock_based_compensation": 154000000, "acquired_in_process_research_and_development_noncash": 1572000000, "other_changes_in_operating_assets_and_liabilities": -3364000000, "other_operating_activities_net": 474000000, "operating_cash_flow": 1666000000, "capital_expenditures": -1510000000, "purchases_of_noncurrent_investments": -197000000, "purchases_of_in_process_research_and_development": -1757000000, "cash_paid_for_acquisitions_net_of_cash_acquired": 0, "other_investing_activities_net": 111000000, "investing_cash_flow": -3353000000, "dividends_paid": -1346000000, "net_change_in_short_term_borrowings": -1849000000, "proceeds_from_issuance_of_long_term_debt": 6461000000, "repayments_of_long_term_debt": 0, "share_repurchases": -1200000000, "other_financing_activities_net": -686000000, "financing_cash_flow": 1380000000, "effect_of_exchange_rate_changes_on_cash": 132000000, "net_change_in_cash": -175000000, "cash_at_beginning_of_period": 3268000000, "cash_at_end_of_period": 3093000000, "free_cash_flow": 156000000 } } ], "trailing_twelve_months": { "period": "Twelve months ended March 31, 2026", "basis": "FY2025 (10-K, accession 0000059478-26-000013) less the three months ended March 31, 2025 plus the three months ended March 31, 2026 (10-Q, accession 0000059478-26-000045)", "revenue": 72249000000, "cost_of_sales": 12404000000, "gross_profit": 59845000000, "gross_margin_pct": 82.8, "research_and_development": 14113000000, "net_income": 25277000000, "net_margin_pct": 35.0, "operating_cash_flow": 20480000000, "capital_expenditures": -8657000000, "free_cash_flow": 11823000000, "eps_diluted": 28.15 }, "share_counts": { "common_shares_issued_2025_12_31": 944800000, "common_shares_issued_2024_12_31": 947900000, "shares_outstanding_2026_02_09": 943357420, "shares_outstanding_2026_04_27": 941741406, "note": "Share counts come from the balance sheet and the cover pages of the two filings. The weighted-average diluted share counts used for earnings per share (899.3 million for 2025, 895.9 million for the March 2026 quarter) are lower than issued shares because shares held by the employee benefit trust are excluded from the earnings-per-share denominator." }, "notes": [ "All figures are stated in actual U.S. dollars. The filings present their statements in millions; every amount here has been multiplied out to whole dollars, so a $65,179 million revenue line appears as 65,179,000,000.", "Lilly's income statement does not present an operating income subtotal. The line reported here as 'operating_income_derived' is revenue less cost of sales, research and development, marketing/selling/administrative, acquired in-process research and development, and asset impairment/restructuring/other special charges. It excludes the 'Other-net, (income) expense' line, which the company reports separately and which bridges this subtotal to income before income taxes as presented in the filings. For fiscal 2025 that derived operating income is $26,302 million, and subtracting the $571 million of other-net expense gives the $25,731 million of income before income taxes shown on the face of the 10-K.", "Capital expenditures are the 'Purchases of property and equipment' line of the cash flow statement ($7,841 million in 2025). The FY2025 10-K's segment note separately discloses 'expenditures for long-lived assets' of $8,672 million for 2025, which additionally includes computer software costs; the cash flow statement figure is used here for consistency with the free cash flow calculation.", "Free cash flow is operating cash flow less purchases of property and equipment. It is a calculated measure, not a line item in the filings.", "The FY2025 10-K presents three years of income statement and cash flow data (2025, 2024, 2023) but only two balance sheet dates (December 31, 2025 and December 31, 2024). No balance sheet is reported here for fiscal 2023; the only 2023 balance sheet datum available on the face of the filing is year-end cash and cash equivalents of $2,819 million, which appears in the cash flow statement.", "Likewise, the Q1 2026 10-Q balance sheet presents March 31, 2026 and December 31, 2025 columns only, so no balance sheet is reported for the March 2025 quarter. Cash and cash equivalents at March 31, 2025 were $3,093 million per that quarter's comparative cash flow statement.", "Total debt is the sum of 'Short-term borrowings and current maturities of long-term debt' and 'Long-term debt' from the balance sheet: $42,503 million at December 31, 2025, $33,644 million at December 31, 2024, and $43,370 million at March 31, 2026. Net debt subtracts cash and cash equivalents only; short-term investments are not broken out on the face of the balance sheet.", "Dividends declared per share (2023: $4.69; 2024: $5.40; 2025: $6.23) come from the consolidated statements of shareholders' equity in the FY2025 10-K. For the March 2026 quarter, the 10-Q states dividends paid of $1.5 billion, or $1.73 per share.", "Revenue by product for fiscal 2025 and fiscal 2024 uses the worldwide totals as printed in the FY2025 10-K's management's discussion and analysis. The U.S. and outside-U.S. splits, and all 2023 product figures, come from the revenue disaggregation note; worldwide totals for 2023 (and for products the management's discussion table groups into 'Other products') are the sum of the note's U.S. and outside-U.S. columns. Because the filing rounds each column to the nearest million, a summed total can differ by $1 million from the company's printed worldwide total (Mounjaro 2025 is the one such case: $22,965 million as printed versus $22,966 million summed; the printed figure is used).", "The therapeutic-area totals shown are the sum of the U.S. and outside-U.S. columns of the revenue disaggregation note. These summed area totals add to $65,178 million for 2025 against the $65,179 million revenue on the face of the income statement; the difference is the filing's own rounding, which it discloses.", "The 'Other' revenue category and the therapeutic-area groupings are the company's own; Lilly operates as a single reportable segment, so these are revenue disaggregations rather than segment results.", "Lilly's income statement carries no operating income subtotal, and its structured data reported to the SEC contains no operating income concept, consistent with the face of the filing.", "Zepbound revenue outside the United States was zero in 2023 and 2024 (the product had not launched outside the U.S.); the filing shows an em dash, recorded here as zero.", "Repayments of long-term debt were nil in 2023 and in the March 2025 quarter, and proceeds from issuance of long-term debt were nil in the March 2026 quarter; the filing shows em dashes, recorded here as zero." ], "uncertainties": [ "The 'operating_income_derived' line is a calculated subtotal, not a figure Lilly prints. Users who define operating income to include the 'Other-net, (income) expense' line will arrive at a different number (that alternative equals income before income taxes, since Lilly reports no interest expense line separately on the face of the income statement).", "Lilly does not present interest expense, interest income, or depreciation separately on the face of the income statement; interest and similar items are embedded in 'Other-net, (income) expense'. Any interest-coverage or EBITDA-style measure therefore cannot be built from the income statement lines reported here without going to the notes.", "Fiscal 2023 balance sheet data and March 2025 balance sheet data are not reported because the two filings on hand do not present those columns.", "The trailing-twelve-month figures are arithmetic (fiscal 2025 less the March 2025 quarter plus the March 2026 quarter). Trailing diluted earnings per share computed the same way ($28.15) is an approximation, since the share-count denominators differ between the periods being combined; trailing net income divided by the most recent quarter's diluted share count gives a slightly different result.", "The quarterly cash flow statement in the 10-Q collapses working-capital movements into a single 'Other changes in operating assets and liabilities' line, so the receivables, inventory, and payables detail available annually is not available quarterly.", "Free cash flow does not deduct purchases of in-process research and development ($3,008 million in 2025) or cash paid for acquisitions ($661 million in 2025), which the company classifies as investing outflows. For a business that spends this heavily on externally sourced pipeline assets, some readers will want those treated as recurring rather than discretionary." ], "company_details": { "Name": "ELI LILLY & Co", "Ticker": "LLY", "CIK": "0000059478", "Exchange": "NYSE", "State": "Indiana", "Incorporation": "Indiana", "SIC": "2834", "Office": "Life Sciences", "Industry": "Pharmaceutical Preparations" }, "next_filing": { "predicted_date": "2026-08-06", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q1", "tag": "FY26Q1", "period_end": "2026-03-31", "form": "10-Q", "accession": "0000059478-26-000045", "fiscal_year_end": "1231", "source": "facts" } }