Eli Lilly and Company (LLY) Q1 FY2026 Financial Statements: Revenue $19.80B, Net income $7.40B
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PeriodQ2 FY2026Q1 FY2026
Archived record for Q1 FY2026. The current period is Q2 FY2026.
Published
Eli Lilly and Company reported $19.80 billion in revenue for Q1 FY2026, the quarter ended March 31, 2026, up 55.5% from a year earlier, and net income of $7.40 billion, up 168.1%. The two tirzepatide medicines carried the quarter: Mounjaro revenue of $8.66 billion was up 125.5% and Zepbound revenue of $4.16 billion was up 79.9%, on much higher volumes that outweighed lower realized prices in the United States and abroad. Diluted earnings per share of $8.26 were up 169.9%, growing faster than revenue because the year-ago quarter carried a far larger charge for acquired in-process research and development and a higher effective tax rate.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $19,799,000,000 | up 55.5% |
| Net income | $7,396,000,000 | up 168.1% |
| Diluted EPS | $8.26 | up 169.9% |
| Mounjaro revenue | $8,662,000,000 | up 125.5% |
| Zepbound revenue | $4,160,000,000 | up 79.9% |
| Gross margin | 81.9% | down 0.6 points |
About this file
| 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 | no |
| Units | actual dollars (not millions) |
LLY annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Source accession | 0000059478-26-000013 | 0000059478-26-000013 | 0000059478-26-000013 |
| Income statement | |||
| Revenue | 65,179,000,000 | 45,043,000,000 | 34,124,000,000 |
| Cost of sales | 11,052,000,000 | 8,418,000,000 | 7,082,000,000 |
| Gross profit | 54,127,000,000 | 36,625,000,000 | 27,042,000,000 |
| Gross margin % | 83.0% | 81.3% | 79.2% |
| Research and development | 13,337,000,000 | 10,991,000,000 | 9,313,000,000 |
| Marketing selling and administrative | 11,094,000,000 | 8,594,000,000 | 7,404,000,000 |
| Acquired in process research and development | 2,910,000,000 | 3,280,000,000 | 3,800,000,000 |
| Asset impairment restructuring and other special charges | 484,000,000 | 861,000,000 | 68,000,000 |
| Other net expense income | 571,000,000 | 219,000,000 | -97,000,000 |
| Total costs expenses and other | 39,448,000,000 | 32,363,000,000 | 27,570,000,000 |
| Operating income derived | 26,302,000,000 | 12,899,000,000 | 6,457,000,000 |
| Income before income taxes | 25,731,000,000 | 12,680,000,000 | 6,554,000,000 |
| Income taxes | 5,091,000,000 | 2,090,000,000 | 1,314,000,000 |
| Effective tax rate % | 19.8% | 16.5% | 20.0% |
| Net income | 20,640,000,000 | 10,590,000,000 | 5,240,000,000 |
| Net margin % | 31.7% | 23.5% | 15.4% |
| EPS basic | 23.0 | 11.76 | 5.82 |
| EPS diluted | 22.95 | 11.71 | 5.8 |
| Weighted average shares basic | 897,300,000 | 900,600,000 | 900,200,000 |
| Weighted average shares diluted | 899,300,000 | 904,100,000 | 903,300,000 |
| Dividends declared per share | 6.23 | 5.4 | 4.69 |
| Revenue by geography | |||
| US | 43,481,000,000 | 30,375,000,000 | 21,791,000,000 |
| Outside US | 21,698,000,000 | 14,668,000,000 | 12,333,000,000 |
| Total | 65,179,000,000 | 45,043,000,000 | 34,124,000,000 |
| Revenue by product | |||
| Mounjaro | |||
| US | 13,651,000,000 | 8,950,000,000 | 4,834,000,000 |
| Outside US | 9,315,000,000 | 2,590,000,000 | 329,000,000 |
| Total | 22,965,000,000 | 11,540,000,000 | 5,163,000,000 |
| Zepbound | |||
| US | 13,484,000,000 | 4,926,000,000 | 176,000,000 |
| Outside US | 58,000,000 | 0 | 0 |
| Total | 13,542,000,000 | 4,926,000,000 | 176,000,000 |
| Verzenio | |||
| US | 3,464,000,000 | 3,421,000,000 | 2,509,000,000 |
| Outside US | 2,259,000,000 | 1,886,000,000 | 1,354,000,000 |
| Total | 5,723,000,000 | 5,307,000,000 | 3,863,000,000 |
| Trulicity | |||
| US | 2,914,000,000 | 3,694,000,000 | 5,433,000,000 |
| Outside US | 1,362,000,000 | 1,560,000,000 | 1,699,000,000 |
| Total | 4,276,000,000 | 5,254,000,000 | 7,132,000,000 |
| Jardiance | |||
| US | 1,582,000,000 | 1,598,000,000 | 1,600,000,000 |
| Outside US | 1,849,000,000 | 1,743,000,000 | 1,144,000,000 |
| Total | 3,431,000,000 | 3,341,000,000 | 2,744,000,000 |
| Taltz | |||
| US | 2,333,000,000 | 2,152,000,000 | 1,832,000,000 |
| Outside US | 1,230,000,000 | 1,108,000,000 | 928,000,000 |
| Total | 3,563,000,000 | 3,260,000,000 | 2,760,000,000 |
| Revenue by therapeutic area | |||
| Cardiometabolic health | |||
| US | 33,864,000,000 | 21,850,000,000 | 14,781,000,000 |
| Outside US | 14,357,000,000 | 7,671,000,000 | 4,887,000,000 |
| Total | 48,221,000,000 | 29,521,000,000 | 19,668,000,000 |
| Oncology | |||
| US | 5,352,000,000 | 5,036,000,000 | 3,797,000,000 |
| Outside US | 4,024,000,000 | 3,717,000,000 | 2,861,000,000 |
| Total | 9,376,000,000 | 8,753,000,000 | 6,658,000,000 |
| Immunology | |||
| US | 2,964,000,000 | 2,458,000,000 | 2,058,000,000 |
| Outside US | 2,283,000,000 | 1,935,000,000 | 1,740,000,000 |
| Total | 5,247,000,000 | 4,393,000,000 | 3,798,000,000 |
| Neuroscience | |||
| US | 997,000,000 | 780,000,000 | 696,000,000 |
| Outside US | 394,000,000 | 694,000,000 | 2,183,000,000 |
| Total | 1,391,000,000 | 1,474,000,000 | 2,879,000,000 |
| Other | |||
| US | 304,000,000 | 251,000,000 | 459,000,000 |
| Outside US | 639,000,000 | 652,000,000 | 663,000,000 |
| Total | 943,000,000 | 903,000,000 | 1,122,000,000 |
| Balance sheet | |||
| Cash and cash equivalents | 7,268,000,000 | 3,268,000,000 | |
| Accounts receivable | 17,760,000,000 | 11,006,000,000 | |
| Other receivables | 2,395,000,000 | 2,270,000,000 | |
| Inventories | 13,744,000,000 | 7,589,000,000 | |
| Prepaid expenses | 14,315,000,000 | 8,341,000,000 | |
| Other current assets | 147,000,000 | 266,000,000 | |
| Total current assets | 55,629,000,000 | 32,740,000,000 | |
| Investments noncurrent | 2,802,000,000 | 3,216,000,000 | |
| Goodwill | 5,898,000,000 | 5,770,000,000 | |
| Other intangibles net | 6,521,000,000 | 6,166,000,000 | |
| Deferred tax assets | 9,959,000,000 | 8,001,000,000 | |
| Property and equipment net | 24,675,000,000 | 17,102,000,000 | |
| Other noncurrent assets | 6,992,000,000 | 5,720,000,000 | |
| Total assets | 112,476,000,000 | 78,715,000,000 | |
| Short term borrowings and current maturities of long term debt | 1,635,000,000 | 5,117,000,000 | |
| Accounts payable | 5,379,000,000 | 3,229,000,000 | |
| Employee compensation | 2,375,000,000 | 2,094,000,000 | |
| Sales rebates and discounts | 17,382,000,000 | 11,539,000,000 | |
| Other current liabilities | 8,457,000,000 | 6,397,000,000 | |
| Total current liabilities | 35,228,000,000 | 28,376,000,000 | |
| Long term debt | 40,868,000,000 | 28,527,000,000 | |
| Long term income taxes payable | 5,875,000,000 | 4,061,000,000 | |
| Other noncurrent liabilities | 3,970,000,000 | 3,479,000,000 | |
| Total noncurrent liabilities | 50,713,000,000 | 36,067,000,000 | |
| Total liabilities | 85,941,000,000 | 64,443,000,000 | |
| Common stock | 590,000,000 | 592,000,000 | |
| Additional paid in capital | 7,346,000,000 | 7,439,000,000 | |
| Retained earnings | 24,470,000,000 | 13,545,000,000 | |
| Employee benefit trust | -3,013,000,000 | -3,013,000,000 | |
| Accumulated other comprehensive loss | -2,880,000,000 | -4,322,000,000 | |
| Other equity | 22,000,000 | 31,000,000 | |
| Total equity | 26,535,000,000 | 14,272,000,000 | |
| Total liabilities and equity | 112,476,000,000 | 78,715,000,000 | |
| Total debt | 42,503,000,000 | 33,644,000,000 | |
| Net debt | 35,235,000,000 | 30,376,000,000 | |
| Issued shares at period end | 944,800,000 | 947,900,000 | |
| Cash flow | |||
| Net income | 20,640,000,000 | 10,590,000,000 | 5,240,000,000 |
| Depreciation and amortization | 1,997,000,000 | 1,767,000,000 | 1,527,000,000 |
| Change in deferred income taxes | -1,707,000,000 | -2,683,000,000 | -2,341,000,000 |
| Stock based compensation | 626,000,000 | 646,000,000 | 629,000,000 |
| Gains on sale of product rights | -180,000,000 | -224,000,000 | -1,879,000,000 |
| Acquired in process research and development noncash | 2,910,000,000 | 3,280,000,000 | 3,800,000,000 |
| Other operating activities net | 620,000,000 | 826,000,000 | 319,000,000 |
| 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 liabilities | 10,187,000,000 | 2,609,000,000 | 4,274,000,000 |
| Operating cash flow | 16,813,000,000 | 8,818,000,000 | 4,240,000,000 |
| Capital expenditures | -7,841,000,000 | -5,058,000,000 | -3,448,000,000 |
| Proceeds from sales of and distributions from noncurrent investments | 964,000,000 | 374,000,000 | 508,000,000 |
| Purchases of noncurrent investments | -645,000,000 | -677,000,000 | -731,000,000 |
| Proceeds from sale of product rights | 218,000,000 | 601,000,000 | 1,604,000,000 |
| 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 net | 1,000,000 | -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 | -1,852,000,000 | 4,691,000,000 |
| Proceeds from issuance of long term debt | 13,167,000,000 | 11,417,000,000 | 3,959,000,000 |
| Repayments of long term debt | -778,000,000 | -664,000,000 | 0 |
| 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 | -2,213,000,000 | 1,230,000,000 | 3,496,000,000 |
| Effect of exchange rate changes on cash | 372,000,000 | -297,000,000 | 169,000,000 |
| Net change in cash | 4,000,000,000 | 449,000,000 | 752,000,000 |
| Cash at beginning of year | 3,268,000,000 | 2,819,000,000 | 2,067,000,000 |
| Cash at end of year | 7,268,000,000 | 3,268,000,000 | 2,819,000,000 |
| Free cash flow | 8,972,000,000 | 3,760,000,000 | 792,000,000 |
LLY quarterly income statement, balance sheet and cash flow
| 2026-03-31 | 2025-03-31 | |
|---|---|---|
| Fiscal period | Q1 2026 | Q1 2025 |
| Period start | 2026-01-01 | 2025-01-01 |
| Period end | 2026-03-31 | 2025-03-31 |
| Period type | three months | three months |
| Source accession | 0000059478-26-000045 | 0000059478-26-000045 |
| Income statement | ||
| Revenue | 19,799,000,000 | 12,729,000,000 |
| Cost of sales | 3,577,000,000 | 2,225,000,000 |
| Gross profit | 16,222,000,000 | 10,504,000,000 |
| Gross margin % | 81.9% | 82.5% |
| Research and development | 3,510,000,000 | 2,734,000,000 |
| Marketing selling and administrative | 2,934,000,000 | 2,468,000,000 |
| Acquired in process research and development | 584,000,000 | 1,572,000,000 |
| Asset impairment restructuring and other special charges | 279,000,000 | 35,000,000 |
| Other net expense income | 65,000,000 | 239,000,000 |
| Total costs expenses and other | 10,949,000,000 | 9,273,000,000 |
| Operating income derived | 8,915,000,000 | 3,695,000,000 |
| Income before income taxes | 8,850,000,000 | 3,456,000,000 |
| Income taxes | 1,454,000,000 | 697,000,000 |
| Effective tax rate % | 16.4% | 20.2% |
| Net income | 7,396,000,000 | 2,759,000,000 |
| Net margin % | 37.4% | 21.7% |
| EPS basic | 8.27 | 3.07 |
| EPS diluted | 8.26 | 3.06 |
| Weighted average shares basic | 894,500,000 | 898,700,000 |
| Weighted average shares diluted | 895,900,000 | 900,600,000 |
| Revenue by geography | ||
| US | 12,119,000,000 | 8,489,000,000 |
| Outside US | 7,680,000,000 | 4,239,000,000 |
| Total | 19,799,000,000 | 12,729,000,000 |
| Revenue by product | ||
| Mounjaro | ||
| US | 4,232,000,000 | 2,656,000,000 |
| Outside US | 4,430,000,000 | 1,186,000,000 |
| Total | 8,662,000,000 | 3,842,000,000 |
| Zepbound | ||
| US | 4,134,000,000 | 2,305,000,000 |
| Outside US | 26,000,000 | 7,000,000 |
| Total | 4,160,000,000 | 2,312,000,000 |
| Verzenio | ||
| US | 706,000,000 | 658,000,000 |
| Outside US | 596,000,000 | 501,000,000 |
| Total | 1,302,000,000 | 1,159,000,000 |
| Trulicity | ||
| US | 600,000,000 | 771,000,000 |
| Outside US | 318,000,000 | 325,000,000 |
| Total | 919,000,000 | 1,095,000,000 |
| Jardiance | ||
| US | 512,000,000 | 310,000,000 |
| Outside US | 602,000,000 | 705,000,000 |
| Total | 1,114,000,000 | 1,014,000,000 |
| Taltz | ||
| US | 417,000,000 | 477,000,000 |
| Outside US | 315,000,000 | 285,000,000 |
| Total | 733,000,000 | 762,000,000 |
| Revenue by therapeutic area | ||
| Cardiometabolic health | ||
| US | 9,924,000,000 | 6,577,000,000 |
| Outside US | 5,836,000,000 | 2,631,000,000 |
| Total | 15,760,000,000 | 9,208,000,000 |
| Oncology | ||
| US | 1,228,000,000 | 1,046,000,000 |
| Outside US | 1,040,000,000 | 902,000,000 |
| Total | 2,268,000,000 | 1,948,000,000 |
| Immunology | ||
| US | 619,000,000 | 578,000,000 |
| Outside US | 584,000,000 | 510,000,000 |
| Total | 1,203,000,000 | 1,088,000,000 |
| Neuroscience | ||
| US | 293,000,000 | 189,000,000 |
| Outside US | 89,000,000 | 83,000,000 |
| Total | 382,000,000 | 272,000,000 |
| Other | ||
| US | 56,000,000 | 100,000,000 |
| Outside US | 130,000,000 | 113,000,000 |
| Total | 187,000,000 | 213,000,000 |
| Dividends paid per share | 1.73 | |
| Balance sheet | ||
| Cash and cash equivalents | 5,282,000,000 | |
| Accounts receivable | 18,429,000,000 | |
| Other receivables | 2,748,000,000 | |
| Inventories | 14,529,000,000 | |
| Prepaid expenses | 13,633,000,000 | |
| Other current assets | 214,000,000 | |
| Total current assets | 54,835,000,000 | |
| Investments noncurrent | 3,116,000,000 | |
| Goodwill | 6,130,000,000 | |
| Other intangibles net | 7,374,000,000 | |
| Deferred tax assets | 11,350,000,000 | |
| Property and equipment net | 26,540,000,000 | |
| Other noncurrent assets | 7,231,000,000 | |
| Total assets | 116,576,000,000 | |
| Short term borrowings and current maturities of long term debt | 4,000,000,000 | |
| Accounts payable | 5,029,000,000 | |
| Employee compensation | 1,359,000,000 | |
| Sales rebates and discounts | 17,547,000,000 | |
| Other current liabilities | 8,699,000,000 | |
| Total current liabilities | 36,634,000,000 | |
| Long term debt | 39,370,000,000 | |
| Long term income taxes payable | 5,289,000,000 | |
| Other noncurrent liabilities | 4,085,000,000 | |
| Total noncurrent liabilities | 48,744,000,000 | |
| Total liabilities | 85,378,000,000 | |
| Common stock | 590,000,000 | |
| Additional paid in capital | 6,921,000,000 | |
| Retained earnings | 29,514,000,000 | |
| Employee benefit trust | -3,013,000,000 | |
| Accumulated other comprehensive loss | -2,833,000,000 | |
| Other equity | 19,000,000 | |
| Total equity | 31,198,000,000 | |
| Total liabilities and equity | 116,576,000,000 | |
| Total debt | 43,370,000,000 | |
| Net debt | 38,088,000,000 | |
| Shares outstanding on cover | 941,741,406 | |
| Shares outstanding cover date | 2026-04-27 | |
| Cash flow | ||
| Net income | 7,396,000,000 | 2,759,000,000 |
| Depreciation and amortization | 509,000,000 | 463,000,000 |
| Change in deferred income taxes | -1,478,000,000 | -392,000,000 |
| Stock based compensation | 161,000,000 | 154,000,000 |
| Acquired in process research and development noncash | 584,000,000 | 1,572,000,000 |
| Other changes in operating assets and liabilities | -1,664,000,000 | -3,364,000,000 |
| Other operating activities net | -175,000,000 | 474,000,000 |
| Operating cash flow | 5,333,000,000 | 1,666,000,000 |
| Capital expenditures | -2,326,000,000 | -1,510,000,000 |
| Purchases of noncurrent investments | -297,000,000 | -197,000,000 |
| Purchases of in process research and development | -204,000,000 | -1,757,000,000 |
| Cash paid for acquisitions net of cash acquired | -1,058,000,000 | 0 |
| Other investing activities net | -31,000,000 | 111,000,000 |
| Investing cash flow | -3,916,000,000 | -3,353,000,000 |
| Dividends paid | -1,548,000,000 | -1,346,000,000 |
| Net change in short term borrowings | 1,775,000,000 | -1,849,000,000 |
| Proceeds from issuance of long term debt | 0 | 6,461,000,000 |
| Repayments of long term debt | -750,000,000 | 0 |
| Share repurchases | -2,356,000,000 | -1,200,000,000 |
| Other financing activities net | -591,000,000 | -686,000,000 |
| Financing cash flow | -3,470,000,000 | 1,380,000,000 |
| Effect of exchange rate changes on cash | 67,000,000 | 132,000,000 |
| Net change in cash | -1,986,000,000 | -175,000,000 |
| Cash at beginning of period | 7,268,000,000 | 3,268,000,000 |
| Cash at end of period | 5,282,000,000 | 3,093,000,000 |
| Free cash flow | 3,007,000,000 | 156,000,000 |
LLY trailing twelve month income statement and cash flow
| 2026-03-31 | |
|---|---|
| Period | Twelve months ended March 31, 2026 |
| Period end | 2026-03-31 |
| 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 | 72,249,000,000 |
| Cost of sales | 12,404,000,000 |
| Gross profit | 59,845,000,000 |
| Gross margin % | 82.8% |
| Research and development | 14,113,000,000 |
| Net income | 25,277,000,000 |
| Net margin % | 35.0% |
| Operating cash flow | 20,480,000,000 |
| Capital expenditures | -8,657,000,000 |
| Free cash flow | 11,823,000,000 |
| EPS diluted | 28.15 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| 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
| Value | |
|---|---|
| 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 |
LLY shares outstanding
| Value | |
|---|---|
| Common shares issued 2025 12 31 | 944,800,000 |
| Common shares issued 2024 12 31 | 947,900,000 |
| Shares outstanding 2026 02 09 | 943,357,420 |
| Shares outstanding 2026 04 27 | 941,741,406 |
| 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
| Value | |
|---|---|
| Name | ELI LILLY & Co |
| Ticker | LLY |
| CIK | 0000059478 |
| Exchange | NYSE |
| State | Indiana |
| Incorporation | Indiana |
| SIC | 2834 |
| Office | Life Sciences |
| Industry | Pharmaceutical Preparations |
Fiscal period
| FY2026 | |
|---|---|
| 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 |
FAQ · Eli Lilly financial statements
How much revenue did Eli Lilly report in Q1 FY2026?
Eli Lilly and Company reported $19.80 billion in revenue for Q1 FY2026, the quarter ended March 31, 2026. That is up 55.5% from $12.73 billion in the same quarter a year earlier.
What were Mounjaro and Zepbound sales in Q1 FY2026?
Eli Lilly and Company reported Mounjaro revenue of $8.66 billion and Zepbound revenue of $4.16 billion in Q1 FY2026, up 125.5% and up 79.9% respectively from $3.84 billion and $2.31 billion a year earlier. Together the two tirzepatide medicines were the largest source of the company's $19.80 billion in total revenue for the quarter.
What was Eli Lilly's earnings per share in Q1 FY2026?
Eli Lilly and Company reported diluted earnings per share of $8.26 in Q1 FY2026, up 169.9% from $3.06 a year earlier, on net income of $7.40 billion.
How profitable is Eli Lilly?
Eli Lilly and Company earned $7.40 billion on $19.80 billion of revenue in Q1 FY2026, with a gross margin of 81.9% of revenue, down 0.6 points from a year earlier on lower realized prices.
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.
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How this page was built
This page was built from two 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 six 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.
Published by Ticker Scout, an independent publisher of company filings data. About Ticker Scout · Disclaimer
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.