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Eli Lilly and Company (LLY) Q2 FY2026 Financial Statements: Revenue $22.97B, Net income $7.09B

CIK 0000059478 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0000059478-26-000081) · Annual report: FY2025 10-K (filed 2026-02-12, accession 0000059478-26-000013) · Next expected filing: 10-Q ~2026-10-29

More for Eli Lilly: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026Q1 FY2026

Published

Eli Lilly and Company reported $22.97 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 47.7% from a year earlier, led by its incretin medicines, with Mounjaro at $9.94 billion and Zepbound at $4.93 billion. Net income was $7.09 billion, up 25.3%, and diluted earnings per share were $7.94. Earnings grew more slowly than revenue because acquired in-process research and development charges from the period's asset acquisitions rose to $2.78 billion from $154 million a year earlier, and Eli Lilly also recorded asset impairment, restructuring and other special charges tied to closed business combinations, having recorded none in the same quarter a year earlier.

MetricAmountvs. year ago
Revenue$22,974,000,000up 47.7%
Net income$7,095,000,000up 25.3%
Diluted EPS$7.94up 26.2%
Mounjaro revenue$9,943,000,000up 91.2%
Zepbound revenue$4,928,000,000up 45.8%
Acquired IPR&D$2,776,000,000up 1,702.6%

About this file

TickerLLY
CIK0000059478
CompanyEli Lilly and Company
Business typepharmaceutical manufacturer
Schema templatepharmaceutical manufacturer
Reporting currencyUSD
Converted to USDno
Unitsactual dollars (not millions)

LLY annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Fiscal year202520242023
LabelFY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession0000059478-26-0000130000059478-26-0000130000059478-26-000013
Income statement
Revenue65,179,000,00045,043,000,00034,124,000,000
Cost of sales11,052,000,0008,418,000,0007,082,000,000
Gross profit54,127,000,00036,625,000,00027,042,000,000
Gross margin %83.0%81.3%79.2%
Research and development13,337,000,00010,991,000,0009,313,000,000
Marketing selling and administrative11,094,000,0008,594,000,0007,404,000,000
Acquired in process research and development2,910,000,0003,280,000,0003,800,000,000
Asset impairment restructuring and other special charges484,000,000861,000,00068,000,000
Other net expense income571,000,000219,000,000-97,000,000
Total costs expenses and other39,448,000,00032,363,000,00027,570,000,000
Operating income derived26,302,000,00012,899,000,0006,457,000,000
Income before income taxes25,731,000,00012,680,000,0006,554,000,000
Income taxes5,091,000,0002,090,000,0001,314,000,000
Effective tax rate %19.8%16.5%20.0%
Net income20,640,000,00010,590,000,0005,240,000,000
Net margin %31.7%23.5%15.4%
EPS basic23.011.765.82
EPS diluted22.9511.715.8
Weighted average shares basic897,300,000900,600,000900,200,000
Weighted average shares diluted899,300,000904,100,000903,300,000
Dividends declared per share6.235.44.69
Revenue by geography
US43,481,000,00030,375,000,00021,791,000,000
Outside US21,698,000,00014,668,000,00012,333,000,000
Total65,179,000,00045,043,000,00034,124,000,000
Revenue by product
Mounjaro
US13,651,000,0008,950,000,0004,834,000,000
Outside US9,315,000,0002,590,000,000329,000,000
Total22,965,000,00011,540,000,0005,163,000,000
Zepbound
US13,484,000,0004,926,000,000176,000,000
Outside US58,000,00000
Total13,542,000,0004,926,000,000176,000,000
Verzenio
US3,464,000,0003,421,000,0002,509,000,000
Outside US2,259,000,0001,886,000,0001,354,000,000
Total5,723,000,0005,307,000,0003,863,000,000
Trulicity
US2,914,000,0003,694,000,0005,433,000,000
Outside US1,362,000,0001,560,000,0001,699,000,000
Total4,276,000,0005,254,000,0007,132,000,000
Jardiance
US1,582,000,0001,598,000,0001,600,000,000
Outside US1,849,000,0001,743,000,0001,144,000,000
Total3,431,000,0003,341,000,0002,744,000,000
Taltz
US2,333,000,0002,152,000,0001,832,000,000
Outside US1,230,000,0001,108,000,000928,000,000
Total3,563,000,0003,260,000,0002,760,000,000
Revenue by therapeutic area
Cardiometabolic health
US33,864,000,00021,850,000,00014,781,000,000
Outside US14,357,000,0007,671,000,0004,887,000,000
Total48,221,000,00029,521,000,00019,668,000,000
Oncology
US5,352,000,0005,036,000,0003,797,000,000
Outside US4,024,000,0003,717,000,0002,861,000,000
Total9,376,000,0008,753,000,0006,658,000,000
Immunology
US2,964,000,0002,458,000,0002,058,000,000
Outside US2,283,000,0001,935,000,0001,740,000,000
Total5,247,000,0004,393,000,0003,798,000,000
Neuroscience
US997,000,000780,000,000696,000,000
Outside US394,000,000694,000,0002,183,000,000
Total1,391,000,0001,474,000,0002,879,000,000
Other
US304,000,000251,000,000459,000,000
Outside US639,000,000652,000,000663,000,000
Total943,000,000903,000,0001,122,000,000
Balance sheet
Cash and cash equivalents7,268,000,0003,268,000,000
Accounts receivable17,760,000,00011,006,000,000
Other receivables2,395,000,0002,270,000,000
Inventories13,744,000,0007,589,000,000
Prepaid expenses14,315,000,0008,341,000,000
Other current assets147,000,000266,000,000
Total current assets55,629,000,00032,740,000,000
Investments noncurrent2,802,000,0003,216,000,000
Goodwill5,898,000,0005,770,000,000
Other intangibles net6,521,000,0006,166,000,000
Deferred tax assets9,959,000,0008,001,000,000
Property and equipment net24,675,000,00017,102,000,000
Other noncurrent assets6,992,000,0005,720,000,000
Total assets112,476,000,00078,715,000,000
Short term borrowings and current maturities of long term debt1,635,000,0005,117,000,000
Accounts payable5,379,000,0003,229,000,000
Employee compensation2,375,000,0002,094,000,000
Sales rebates and discounts17,382,000,00011,539,000,000
Other current liabilities8,457,000,0006,397,000,000
Total current liabilities35,228,000,00028,376,000,000
Long term debt40,868,000,00028,527,000,000
Long term income taxes payable5,875,000,0004,061,000,000
Other noncurrent liabilities3,970,000,0003,479,000,000
Total noncurrent liabilities50,713,000,00036,067,000,000
Total liabilities85,941,000,00064,443,000,000
Common stock590,000,000592,000,000
Additional paid in capital7,346,000,0007,439,000,000
Retained earnings24,470,000,00013,545,000,000
Employee benefit trust-3,013,000,000-3,013,000,000
Accumulated other comprehensive loss-2,880,000,000-4,322,000,000
Other equity22,000,00031,000,000
Total equity26,535,000,00014,272,000,000
Total liabilities and equity112,476,000,00078,715,000,000
Total debt42,503,000,00033,644,000,000
Net debt35,235,000,00030,376,000,000
Issued shares at period end944,800,000947,900,000
Cash flow
Net income20,640,000,00010,590,000,0005,240,000,000
Depreciation and amortization1,997,000,0001,767,000,0001,527,000,000
Change in deferred income taxes-1,707,000,000-2,683,000,000-2,341,000,000
Stock based compensation626,000,000646,000,000629,000,000
Gains on sale of product rights-180,000,000-224,000,000-1,879,000,000
Acquired in process research and development noncash2,910,000,0003,280,000,0003,800,000,000
Other operating activities net620,000,000826,000,000319,000,000
Change in receivables-7,000,000,000-2,155,000,000-2,451,000,000
Change in inventories-4,671,000,000-2,507,000,000-1,425,000,000
Change in prepaid expenses and other assets-6,609,000,000-3,331,000,000-3,453,000,000
Change in accounts payable and other liabilities10,187,000,0002,609,000,0004,274,000,000
Operating cash flow16,813,000,0008,818,000,0004,240,000,000
Capital expenditures-7,841,000,000-5,058,000,000-3,448,000,000
Proceeds from sales of and distributions from noncurrent investments964,000,000374,000,000508,000,000
Purchases of noncurrent investments-645,000,000-677,000,000-731,000,000
Proceeds from sale of product rights218,000,000601,000,0001,604,000,000
Purchases of in process research and development-3,008,000,000-3,346,000,000-3,944,000,000
Cash paid for acquisitions net of cash acquired-661,000,000-948,000,000-1,044,000,000
Other investing activities net1,000,000-248,000,000-98,000,000
Investing cash flow-10,972,000,000-9,302,000,000-7,153,000,000
Dividends paid-5,384,000,000-4,680,000,000-4,069,000,000
Net change in short term borrowings-4,338,000,000-1,852,000,0004,691,000,000
Proceeds from issuance of long term debt13,167,000,00011,417,000,0003,959,000,000
Repayments of long term debt-778,000,000-664,000,0000
Share repurchases-4,108,000,000-2,500,000,000-750,000,000
Other financing activities net-772,000,000-491,000,000-335,000,000
Financing cash flow-2,213,000,0001,230,000,0003,496,000,000
Effect of exchange rate changes on cash372,000,000-297,000,000169,000,000
Net change in cash4,000,000,000449,000,000752,000,000
Cash at beginning of year3,268,000,0002,819,000,0002,067,000,000
Cash at end of year7,268,000,0003,268,000,0002,819,000,000
Free cash flow8,972,000,0003,760,000,000792,000,000

LLY quarterly income statement, balance sheet and cash flow

Q2 2026Q2 2025
LabelQ2 2026Q2 2025
Fiscal periodQ2 2026Q2 2025
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession0000059478-26-0000810000059478-26-000081
Income statement
Revenue22,974,000,00015,558,000,000
Cost of sales3,268,000,0002,448,000,000
Gross profit19,706,000,00013,110,000,000
Gross margin %85.8%84.3%
Research and development3,819,000,0003,336,000,000
Marketing selling and administrative3,430,000,0002,753,000,000
Acquired in process research and development2,776,000,000154,000,000
Asset impairment restructuring and other special charges703,000,0000
Other net expense income-269,000,00090,000,000
Total costs expenses and other13,727,000,0008,781,000,000
Operating income derived8,978,000,0006,867,000,000
Income before income taxes9,247,000,0006,777,000,000
Income taxes2,152,000,0001,116,000,000
Effective tax rate %23.3%16.5%
Net income7,095,000,0005,661,000,000
Net margin %30.9%36.4%
EPS basic7.956.3
EPS diluted7.946.29
Weighted average shares basic892,400,000897,900,000
Weighted average shares diluted893,700,000899,800,000
Dividends declared per share3.463.0
Revenue by geography
US14,413,000,00010,814,000,000
Outside US8,561,000,0004,743,000,000
Total22,974,000,00015,558,000,000
Revenue by product
Mounjaro
US4,791,000,0003,302,000,000
Outside US5,152,000,0001,897,000,000
Total9,943,000,0005,199,000,000
Zepbound
US4,873,000,0003,380,000,000
Outside US55,000,0002,000,000
Total4,928,000,0003,381,000,000
Verzenio
US845,000,000929,000,000
Outside US629,000,000560,000,000
Total1,474,000,0001,489,000,000
Trulicity
US908,000,000744,000,000
Outside US312,000,000348,000,000
Total1,219,000,0001,092,000,000
Jardiance
US616,000,000382,000,000
Outside US615,000,000308,000,000
Total1,232,000,000690,000,000
Taltz
US539,000,000549,000,000
Outside US317,000,000299,000,000
Total856,000,000848,000,000
Revenue by therapeutic area
Cardiometabolic health
US11,742,000,0008,363,000,000
Outside US6,611,000,0002,980,000,000
Total18,353,000,00011,343,000,000
Oncology
US1,473,000,0001,419,000,000
Outside US1,097,000,000994,000,000
Total2,570,000,0002,414,000,000
Immunology
US790,000,000701,000,000
Outside US627,000,000555,000,000
Total1,417,000,0001,256,000,000
Neuroscience
US325,000,000248,000,000
Outside US104,000,00096,000,000
Total429,000,000344,000,000
Other
US84,000,00083,000,000
Outside US122,000,000119,000,000
Total205,000,000202,000,000
Balance sheet
Cash and cash equivalents8,950,000,000
Accounts receivable20,083,000,000
Other receivables3,392,000,000
Inventories16,793,000,000
Prepaid expenses15,368,000,000
Other current assets86,000,000
Total current assets64,672,000,000
Investments noncurrent3,856,000,000
Goodwill8,849,000,000
Other intangibles net18,110,000,000
Deferred tax assets10,028,000,000
Property and equipment net29,286,000,000
Other noncurrent assets7,482,000,000
Total assets142,283,000,000
Short term borrowings and current maturities of long term debt7,050,000,000
Accounts payable6,112,000,000
Employee compensation1,798,000,000
Sales rebates and discounts21,122,000,000
Other current liabilities11,659,000,000
Total current liabilities47,741,000,000
Long term debt47,858,000,000
Long term income taxes payable5,461,000,000
Other noncurrent liabilities7,344,000,000
Total noncurrent liabilities60,663,000,000
Total liabilities108,404,000,000
Common stock588,000,000
Additional paid in capital7,117,000,000
Retained earnings31,893,000,000
Employee benefit trust-3,013,000,000
Accumulated other comprehensive loss-2,761,000,000
Other equity55,000,000
Total equity33,879,000,000
Total liabilities and equity142,283,000,000
Total debt54,908,000,000
Net debt45,958,000,000
Issued shares at period end941,500,000
Shares outstanding on cover941,357,065
Shares outstanding cover date2026-08-03
Cash flow
Net income7,095,000,0005,661,000,000
Depreciation and amortization534,000,000478,000,000
Change in deferred income taxes1,045,000,000-1,068,000,000
Stock based compensation201,000,000185,000,000
Acquired in process research and development noncash2,776,000,000154,000,000
Other changes in operating assets and liabilities-670,000,000-2,263,000,000
Other operating activities net-291,000,000-60,000,000
Operating cash flow10,690,000,0003,087,000,000
Capital expenditures-2,933,000,000-1,697,000,000
Purchases of noncurrent investments-307,000,000-171,000,000
Purchases of in process research and development-3,282,000,000-107,000,000
Cash paid for acquisitions net of cash acquired-8,747,000,0000
Other investing activities net-127,000,000141,000,000
Investing cash flow-15,396,000,000-1,834,000,000
Dividends paid-1,546,000,000-1,347,000,000
Net change in short term borrowings3,509,000,0001,603,000,000
Proceeds from issuance of long term debt8,941,000,0000
Repayments of long term debt-873,000,000-778,000,000
Share repurchases-1,601,000,000-692,000,000
Other financing activities net-4,000,000-31,000,000
Financing cash flow8,426,000,000-1,245,000,000
Effect of exchange rate changes on cash-52,000,000275,000,000
Net change in cash3,668,000,000283,000,000
Cash at beginning of period5,282,000,0003,093,000,000
Cash at end of period8,950,000,0003,376,000,000
Free cash flow7,757,000,0001,390,000,000

LLY year-to-date income statement and cash flow

Six months ended June 30, 2026
LabelSix months ended June 30, 2026
Period start2026-01-01
Period end2026-06-30
Period typesix months
Source accession0000059478-26-000081
Income statement
Revenue42,773,000,000
Cost of sales6,845,000,000
Gross profit35,928,000,000
Gross margin %84.0%
Research and development7,329,000,000
Marketing selling and administrative6,364,000,000
Acquired in process research and development3,360,000,000
Asset impairment restructuring and other special charges982,000,000
Other net expense income-204,000,000
Total costs expenses and other24,676,000,000
Operating income derived17,893,000,000
Income before income taxes18,097,000,000
Income taxes3,606,000,000
Effective tax rate %19.9%
Net income14,491,000,000
Net margin %33.9%
EPS basic16.22
EPS diluted16.19
Weighted average shares basic893,500,000
Weighted average shares diluted894,800,000
Dividends declared per share3.46
Revenue by geography
US26,532,000,000
Outside US16,241,000,000
Total42,773,000,000
Revenue by product
Mounjaro
US9,024,000,000
Outside US9,582,000,000
Total18,605,000,000
Zepbound
US9,006,000,000
Outside US81,000,000
Total9,088,000,000
Verzenio
US1,551,000,000
Outside US1,224,000,000
Total2,776,000,000
Trulicity
US1,508,000,000
Outside US630,000,000
Total2,138,000,000
Jardiance
US1,128,000,000
Outside US1,218,000,000
Total2,346,000,000
Taltz
US956,000,000
Outside US632,000,000
Total1,588,000,000
Revenue by therapeutic area
Cardiometabolic health
US21,666,000,000
Outside US12,447,000,000
Total34,113,000,000
Oncology
US2,700,000,000
Outside US2,138,000,000
Total4,838,000,000
Immunology
US1,409,000,000
Outside US1,211,000,000
Total2,620,000,000
Neuroscience
US617,000,000
Outside US194,000,000
Total811,000,000
Other
US140,000,000
Outside US252,000,000
Total392,000,000
Cash flow
Net income14,491,000,000
Depreciation and amortization1,043,000,000
Change in deferred income taxes-433,000,000
Stock based compensation362,000,000
Acquired in process research and development noncash3,360,000,000
Other changes in operating assets and liabilities-2,334,000,000
Other operating activities net-466,000,000
Operating cash flow16,023,000,000
Capital expenditures-5,259,000,000
Purchases of noncurrent investments-604,000,000
Purchases of in process research and development-3,486,000,000
Cash paid for acquisitions net of cash acquired-9,805,000,000
Other investing activities net-158,000,000
Investing cash flow-19,312,000,000
Dividends paid-3,094,000,000
Net change in short term borrowings5,284,000,000
Proceeds from issuance of long term debt8,941,000,000
Repayments of long term debt-1,623,000,000
Share repurchases-3,957,000,000
Other financing activities net-595,000,000
Financing cash flow4,956,000,000
Effect of exchange rate changes on cash15,000,000
Net change in cash1,682,000,000
Cash at beginning of period7,268,000,000
Cash at end of period8,950,000,000
Free cash flow10,764,000,000
Prior year comparative
LabelSix months ended June 30, 2025
Period start2025-01-01
Period end2025-06-30
Period typesix months
Source accession0000059478-26-000081
Income statement
Revenue28,286,000,000
Cost of sales4,672,000,000
Gross profit23,614,000,000
Gross margin %83.5%
Research and development6,070,000,000
Marketing selling and administrative5,221,000,000
Acquired in process research and development1,726,000,000
Asset impairment restructuring and other special charges35,000,000
Other net expense income329,000,000
Total costs expenses and other18,053,000,000
Operating income derived10,562,000,000
Income before income taxes10,233,000,000
Income taxes1,813,000,000
Effective tax rate %17.7%
Net income8,420,000,000
Net margin %29.8%
EPS basic9.37
EPS diluted9.35
Weighted average shares basic898,300,000
Weighted average shares diluted900,200,000
Dividends declared per share3.0
Revenue by geography
US19,304,000,000
Outside US8,983,000,000
Total28,286,000,000
Revenue by product
Mounjaro
US5,958,000,000
Outside US3,083,000,000
Total9,041,000,000
Zepbound
US5,685,000,000
Outside US8,000,000
Total5,693,000,000
Verzenio
US1,587,000,000
Outside US1,062,000,000
Total2,648,000,000
Trulicity
US1,514,000,000
Outside US673,000,000
Total2,187,000,000
Jardiance
US692,000,000
Outside US1,012,000,000
Total1,704,000,000
Taltz
US1,025,000,000
Outside US584,000,000
Total1,610,000,000
Revenue by therapeutic area
Cardiometabolic health
US14,940,000,000
Outside US5,611,000,000
Total20,551,000,000
Oncology
US2,465,000,000
Outside US1,896,000,000
Total4,361,000,000
Immunology
US1,279,000,000
Outside US1,065,000,000
Total2,344,000,000
Neuroscience
US437,000,000
Outside US179,000,000
Total616,000,000
Other
US182,000,000
Outside US232,000,000
Total414,000,000
Cash flow
Net income8,420,000,000
Depreciation and amortization941,000,000
Change in deferred income taxes-1,460,000,000
Stock based compensation339,000,000
Acquired in process research and development noncash1,726,000,000
Other changes in operating assets and liabilities-5,627,000,000
Other operating activities net414,000,000
Operating cash flow4,753,000,000
Capital expenditures-3,207,000,000
Purchases of noncurrent investments-368,000,000
Purchases of in process research and development-1,864,000,000
Cash paid for acquisitions net of cash acquired0
Other investing activities net252,000,000
Investing cash flow-5,187,000,000
Dividends paid-2,693,000,000
Net change in short term borrowings-246,000,000
Proceeds from issuance of long term debt6,461,000,000
Repayments of long term debt-778,000,000
Share repurchases-1,892,000,000
Other financing activities net-717,000,000
Financing cash flow135,000,000
Effect of exchange rate changes on cash407,000,000
Net change in cash108,000,000
Cash at beginning of period3,268,000,000
Cash at end of period3,376,000,000
Free cash flow1,546,000,000

LLY trailing twelve month income statement and cash flow

Twelve months ended June 30, 2026
LabelTwelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession0000059478-26-000081
Income statement
Revenue79,666,000,000
Cost of sales13,225,000,000
Gross profit66,441,000,000
Gross margin %83.4%
Research and development14,596,000,000
Marketing selling and administrative12,237,000,000
Acquired in process research and development4,544,000,000
Asset impairment restructuring and other special charges1,431,000,000
Other net expense income38,000,000
Total costs expenses and other46,071,000,000
Operating income derived33,633,000,000
Income before income taxes33,595,000,000
Income taxes6,884,000,000
Effective tax rate %20.5%
Net income26,711,000,000
Net margin %33.5%
EPS diluted29.79
Cash flow
Operating cash flow28,083,000,000
Capital expenditures-9,893,000,000
Purchases of in process research and development-4,630,000,000
Cash paid for acquisitions net of cash acquired-10,466,000,000
Investing cash flow-25,097,000,000
Dividends paid-5,785,000,000
Share repurchases-6,173,000,000
Financing cash flow2,608,000,000
Free cash flow18,190,000,000

Adjustments

Value
Splits appliednone
ADR ration/a
FXNone. Eli Lilly is a domestic U.S. filer reporting in U.S. dollars; no currency translation was required.

Notes

  • This record covers exactly the periods the two filings behind it put on their face: the FY2025 Form 10-K (accession 0000059478-26-000013), which presents fiscal 2025, 2024 and 2023 income statements and cash flow statements and balance sheets at December 31, 2025 and 2024; and the Form 10-Q for the quarter ended June 30, 2026 (accession 0000059478-26-000081), which presents the three and six months ended June 30, 2026 and 2025 and balance sheets at June 30, 2026 and December 31, 2025.
  • 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 $22,974 million revenue line appears as 22,974,000,000.
  • 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 the June 2026 quarter that derived operating income is $8,978 million, and the $269 million of other-net income brings it to the $9,247 million of income before income taxes shown on the face of the 10-Q.
  • Only the discrete three-month periods appear in the quarterly list. The six-month figures the 10-Q prints alongside them are reported separately under 'year_to_date' (with the prior-year six months nested inside it), and a twelve-month view appears under 'trailing_twelve_months'.
  • The 10-Q's cash flow statement is presented on a six-month basis only. The June 2026 and June 2025 quarterly cash flow figures shown here were obtained by subtracting the corresponding March-quarter amounts, as reported in the Form 10-Q for the quarter ended March 31, 2026 (accession 0000059478-26-000045), from the six-month columns of the current 10-Q. Several independent checks confirm the result: the resulting June-2026-quarter stock-based compensation of $201 million and acquired in-process research and development of $2,776 million match the equity statement and income statement in the current 10-Q, the $8,941 million of long-term debt proceeds matches the roughly $9.0 billion May 2026 issuance the 10-Q describes, and the derived cash roll-forward lands exactly on the $8,950 million of cash on the June 30, 2026 balance sheet.
  • Trailing-twelve-month figures are arithmetic: fiscal 2025 less the six months ended June 30, 2025 plus the six months ended June 30, 2026. On that basis trailing revenue is $79,666 million and trailing net income is $26,711 million.
  • Capital expenditures are the 'Purchases of property and equipment' line of the cash flow statement. The 10-Q's segment note separately discloses 'expenditures for long-lived assets' of $2,906 million for the June 2026 quarter and $5,344 million for the six months, which additionally include 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 10-Q balance sheet presents June 30, 2026 and December 31, 2025 only, so no balance sheet is reported for the June 2025 quarter. Cash and cash equivalents at June 30, 2025 were $3,376 million per that period's comparative cash flow statement. Likewise the FY2025 10-K presents only two balance sheet dates, so fiscal 2023 carries no balance sheet here; year-end 2023 cash and cash equivalents of $2,819 million appear in the 10-K's 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: $54,908 million at June 30, 2026 against $42,503 million at December 31, 2025. The 10-Q's own liquidity discussion states total debt of $54.9 billion at June 30, 2026, an increase of $12.4 billion over year-end. 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 come from the consolidated condensed statements of shareholders' equity: $3.46 per share declared in the June 2026 quarter and $3.00 in the June 2025 quarter. In each year the entire first-half declaration falls in the second quarter, so the six-month figure equals the quarterly one. Cash dividends actually paid were $3,094 million in the first half of 2026 and $2,693 million in the first half of 2025.
  • Goodwill rose from $5,898 million at December 31, 2025 to $8,849 million at June 30, 2026 and other intangibles from $6,521 million to $18,110 million, reflecting acquisitions completed during the half. The 10-Q states the company paid $13.3 billion in 2026 related to business development activity, primarily the acquisitions of Centessa, Kelonia, Orna, Ventyx and Ajax.
  • Lilly operates as a single reportable segment, so the product, therapeutic-area and geographic figures here are revenue disaggregations from the notes and not segment results. Because the filing rounds each column to the nearest million, the therapeutic-area columns can differ by $1 million from the revenue on the face of the income statement (the June 2025 quarter sums to $15,559 million against $15,558 million reported, and the six months ended June 30, 2026 sum to $42,774 million against $42,773 million); the income statement figure is used as revenue. The same rounding means an individual product's U.S. and outside-U.S. amounts can differ by $1 million from its printed total: Zepbound in the June 2025 quarter is shown as $3,380 million in the U.S. and $2 million outside the U.S. against a total of $3,381 million, and Zepbound for the six months ended June 30, 2026 as $9,006 million and $81 million against a total of $9,088 million. The totals are reproduced here exactly as the filing prints them.
  • The 10-Q's segment note discloses interest expense, which does not appear on the face of the income statement: $345 million for the June 2026 quarter and $677 million for the six months, against $249 million and $493 million in the comparable 2025 periods.
  • Where the filing shows an em dash the amount is recorded here as zero: asset impairment, restructuring, and other special charges were nil in the June 2025 quarter, and cash paid for acquisitions was nil in the first half of 2025. The June 2025 quarter also shows no proceeds from issuance of long-term debt, because all $6,461 million of first-half 2025 issuance fell in the March quarter.
  • Fiscal 2025, 2024 and 2023 are the three years the FY2025 10-K presents. The figures are as presented in that 10-K and are unchanged from the prior year's presentation; the filing reports no restatement of them.

Uncertainties

  • The June 2026 and June 2025 quarterly cash flow figures are derived by differencing the 10-Q's six-month columns against the March-quarter amounts from the March 31, 2026 Form 10-Q (accession 0000059478-26-000045). They are arithmetic rather than figures Lilly prints. Every subtotal ties and four independent cross-checks agree, but a reader wanting a company-published quarterly cash flow statement will not find one.
  • 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 on the face of the income statement).
  • Trailing-twelve-month diluted earnings per share of $29.79 is arithmetic (fiscal 2025 less the first half of 2025 plus the first half of 2026) and is an approximation, since the share-count denominators differ across the periods being combined. No trailing share count is reported for that reason.
  • Balance sheet data are not reported for the June 2025 quarter or for fiscal 2023, because neither filing presents those columns.
  • 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 for the interim periods.
  • Free cash flow does not deduct purchases of in-process research and development ($3,486 million in the first half of 2026) or cash paid for acquisitions ($9,805 million), 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.
  • The acquisitions completed during the first half of 2026 are reflected in the June 30, 2026 balance sheet but contributed only partial-period results, so quarter-over-quarter comparisons of goodwill, intangibles and acquired in-process research and development are not like-for-like.

Company details

Value
NameELI LILLY & Co
TickerLLY
CIK0000059478
ExchangeNYSE
StateIndiana
IncorporationIndiana
SIC2834
OfficeLife Sciences
IndustryPharmaceutical Preparations

Fiscal period

FY2026
Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0000059478-26-000081
Fiscal year end1231
Sourcefacts

FAQ · Eli Lilly financial statements

How much revenue did Eli Lilly report in Q2 FY2026?

Eli Lilly and Company reported $22.97 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026. That is up 47.7% from $15.56 billion in the same quarter a year earlier.

What were Eli Lilly's net income and earnings per share in Q2 FY2026?

Eli Lilly and Company earned $7.09 billion in Q2 FY2026, up 25.3% from $5.66 billion a year earlier, and diluted earnings per share were $7.94 against $6.29.

How much did Mounjaro and Zepbound generate for Eli Lilly in Q2 FY2026?

Mounjaro revenue was $9.94 billion in Q2 FY2026, up 91.2% from a year earlier, and Zepbound revenue was $4.93 billion, up 45.8%. The two tirzepatide medicines are Eli Lilly's largest products by revenue.

Why did Eli Lilly's profit grow more slowly than its revenue in Q2 FY2026?

Eli Lilly and Company's revenue was up 47.7% in Q2 FY2026 while net income was up 25.3%, because acquired in-process research and development charges rose to $2.78 billion from $154 million and the company recorded asset impairment, restructuring and other special charges that it did not carry a year earlier. Those two items also lifted Eli Lilly's effective tax rate for the quarter.

Where can I get Eli Lilly and Company (LLY) financial data in machine-readable form?

Ticker Scout publishes Eli Lilly and Company's financial statements as JSON at https://tickerscout.ai/lly/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/lly/narrative.md and https://tickerscout.ai/lly/events.md. Eli Lilly and Company's SEC CIK is 0000059478. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Eli Lilly and Company (LLY) next file with the SEC?

Eli Lilly and Company (LLY) is expected to file its next Form 10-Q with the SEC on or around October 29, 2026. That date is a projection rather than a company-announced date: it is derived from Eli Lilly and Company's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000059478-26-000081.

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How this page was built

This page was built from three of Eli Lilly and Company's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names seven such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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Built from Eli Lilly and Company's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.