ELAN
$22.14+1.70%
as of close, Oct 2, 2026
☾ AH $22.14 +1.70%
Elanco Animal Health IncorporatedStock · Health CareRussell 1000 0.02%US Stock Market 0.02%Russell 3000 0.02%
ELAN financial statements
The full income statement, balance sheet, and cash-flow statement for Elanco Animal Health Incorporated (ELAN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 494.3M2024-09 494.4M2024-12 494.6M2025-03 496.6M2025-06 496.8M2025-09 496.9M2025-12 497.2M2026-03 499.4M2026-06 499.6M+1.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 4.71B+6.2% | 4.44B+0.5% | 4.42B+0.1% | 4.41B-7.4% | 4.76B+45.6% | |
| 2.59B+6.4% | 2.44B-2.0% | 2.49B | — | — | ||
| Cost of revenue | 2.12B+5.9% | 2.00B+3.7% | 1.93B+0.9% | 1.91B-10.3% | 2.13B+27.9% | |
| Research & development | 368M+7.0% | 344M+5.2% | 327M+1.9% | 321M-13.0% | 369M+12.2% | |
| Selling, general & administrative | 1.43B+8.8% | 1.31B+2.3% | 1.28B+1.6% | 1.26B-9.8% | 1.40B+40.7% | |
| Restructuring | 156M+254.5% | 44.0M | 0.00+100.0% | -7.00M-106.4% | 110M-29.9% | |
| Amortization of intangibles | 543M+3.0% | 527M-3.8% | 548M+3.8% | 528M-5.0% | 556M+54.4% | |
| Interest expense | — | — | 277M+14.9% | 241M+2.1% | 236M+57.3% | |
| Interest & investment income | 43.0M+38.7% | 31.0M+675.0% | 4.00M | — | — | |
| Other non-operating income | — | — | -75.0M-134.4% | -32.0M-540.0% | -5.00M-102.8% | |
| Pre-tax income | -224M-145.9% | 488M+140.8% | -1.20B-1559.7% | -72.0M+87.4% | -571M+15.7% | |
| Income tax | 8.00M-94.7% | 150M+316.7% | 36.0M+500.0% | 6.00M+106.8% | -88.0M+14.6% | |
| Net income | -232M-168.6% | 338M+127.5% | -1.23B-1478.2% | -78.0M+83.9% | -483M+15.9% | |
| -$0.47-169.1% | $0.68+127.2% | -$2.50-1462.5% | -$0.16+83.8% | -$0.99+23.8% | ||
| EPS (basic) | -$0.47-169.1% | $0.68+127.2% | -$2.50-1462.5% | -$0.16+83.8% | -$0.99+23.8% | |
| Weighted-avg shares (basic) | 496M+0.5% | 494M+0.3% | 492M+0.8% | 488M+0.2% | 487M+10.4% | |
| Weighted-avg shares (diluted) | 496M-0.2% | 497M+1.0% | 492M+0.8% | 488M+0.2% | 487M+10.4% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.46B+7.6% | 3.21B-5.6% | 3.41B+3.9% | 3.28B+0.2% | 3.27B-4.2% | ||
| Cash & equivalents | 545M+16.5% | 468M+33.0% | 352M+2.0% | 345M-45.9% | 638M+28.9% | |
| Accounts receivable | 873M+8.4% | 805M-4.4% | 842M+5.6% | 797M-4.3% | 833M-4.5% | |
| Inventory | 1.74B+10.4% | 1.57B-9.3% | 1.74B+12.8% | 1.54B+12.2% | 1.37B-13.1% | |
| Prepaid expenses | 236M-17.8% | 287M-7.4% | 310M-21.3% | 394M+66.2% | 237M-7.4% | |
| 13.4B+5.9% | 12.6B-12.2% | 14.4B-7.3% | 15.5B-6.0% | 16.5B-6.9% | ||
| Property, plant & equipment | 1.41B+41.9% | 993M-3.2% | 1.03B+2.7% | 999M-5.3% | 1.05B-19.8% | |
| Operating lease right-of-use | 116M-4.9% | 122M-12.9% | 140M-0.7% | 141M-12.4% | 161M-13.9% | |
| Goodwill | 4.78B+8.3% | 4.41B-13.3% | 5.09B-15.0% | 5.99B-2.9% | 6.17B-0.9% | |
| Intangible assets | 3.41B-7.4% | 3.68B-18.1% | 4.49B-7.2% | 4.84B-13.3% | 5.59B-12.5% | |
| Other non-current assets | 304M-2.3% | 311M-8.8% | 341M-9.8% | 378M-3.1% | 390M+12.1% | |
| 1.60B+21.4% | 1.31B+6.0% | 1.24B-27.1% | 1.70B+3.3% | 1.65B-20.7% | ||
| Accounts payable | 368M+24.3% | 296M+9.6% | 270M-30.8% | 390M-6.3% | 416M-17.0% | |
| Deferred revenue | 416M+25.3% | 332M-9.5% | 367M+13.3% | 324M+1.6% | 319M+8.1% | |
| Short-term & current debt | 74.0M+68.2% | 44.0M+15.8% | 38.0M-90.2% | 388M+32.0% | 294M-47.0% | |
| Current lease liability | 38.0M+22.6% | 31.0M-3.1% | 32.0M+3.2% | 31.0M-8.8% | 34.0M-8.1% | |
| Other current liabilities | 739M+58.6% | 466M+13.9% | 409M-9.9% | 454M+4.8% | 433M-25.6% | |
| Finance lease liability (current) | 16.0M | 0.00 | — | — | — | |
| 6.81B+4.5% | 6.52B-19.9% | 8.14B-0.8% | 8.20B-8.6% | 8.97B-2.7% | ||
| Long-term debt | 3.76B-12.0% | 4.28B-25.4% | 5.74B+5.3% | 5.45B-9.6% | 6.03B+8.1% | |
| Non-current lease liability | 86.0M-6.5% | 92.0M-16.4% | 110M-0.9% | 111M-12.6% | 127M-15.9% | |
| Operating lease liability (total) | 124M+0.8% | 123M-13.4% | 142M+0.0% | 142M-11.8% | 161M-14.5% | |
| Finance lease liability (total) | 255M | 0.00 | — | — | — | |
| Finance lease liability | 239M | 0.00 | — | — | — | |
| Deferred tax liabilities | 382M-14.9% | 449M-20.8% | 567M-14.4% | 662M-13.5% | 765M-15.0% | |
| Other non-current liabilities | 585M+93.7% | 302M-26.5% | 411M+79.5% | 229M-12.6% | 262M-18.6% | |
| 6.55B+7.4% | 6.10B-2.0% | 6.22B-14.6% | 7.29B-2.9% | 7.51B-11.2% | ||
| Preferred stock | 0.00 | 0.00 | — | 0.00 | 0.00 | |
| Common stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Additional paid-in capital | 8.87B+0.6% | 8.82B+0.5% | 8.78B+0.4% | 8.74B+0.5% | 8.70B+0.5% | |
| Retained earnings | -2.18B-11.9% | -1.95B+14.8% | -2.29B-116.5% | -1.06B-8.0% | -979M-105.2% | |
| Accumulated other comprehensive income | -141M+81.7% | -771M-189.8% | -266M+32.1% | -392M-87.6% | -209M-169.0% | |
| Total liabilities & equity | 13.4B+5.9% | 12.6B-12.2% | 14.4B-7.3% | 15.5B-6.0% | 16.5B-6.9% | |
| Common shares issued | 497M+0.5% | 494M+0.3% | 493M+3.9% | 474M+0.2% | 473M+0.3% | |
| Common shares outstanding | 497M+0.5% | 494M+0.3% | 493M+3.9% | 474M+0.2% | 473M+0.3% | |
| Shares outstanding (cover) | 497M+0.5% | 495M+0.3% | 493M+0.3% | 492M+3.9% | 473M+0.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 560M+3.5% | 541M+99.6% | 271M-40.0% | 452M-6.4% | 483M+1278.0% | ||
| Depreciation & amortization | 680M+2.7% | 662M-4.6% | 694M+1.8% | 682M-4.7% | 716M+38.5% | |
| Intangible amortization | 543M+3.0% | 527M-3.8% | 548M+3.8% | 528M-5.0% | 556M+54.4% | |
| Share-based compensation | 68.0M+23.6% | 55.0M+19.6% | 46.0M-22.0% | 59.0M-10.6% | 66.0M+40.4% | |
| Deferred income taxes | -134M-19.6% | -112M-40.0% | -80.0M-40.4% | -57.0M+61.5% | -148M-29.8% | |
| Change in inventory | 57.0M+229.5% | -44.0M-127.5% | 160M-40.5% | 269M+1027.6% | -29.0M-130.5% | |
| Other operating activities | -6.00M-300.0% | 3.00M-72.7% | 11.0M | 0.00-100.0% | 11.0M-35.3% | |
| -279M-124.1% | 1.16B+785.2% | -169M+5.6% | -179M+66.2% | -530M+88.9% | ||
| Capital expenditure | 276M+87.8% | 147M+5.0% | 140M-18.1% | 171M+7.5% | 159M+17.8% | |
| Free cash flow | 284M-27.9% | 394M+200.8% | 131M-53.4% | 281M-13.3% | 324M+284.1% | |
| Acquisitions | 0.00-100.0% | 41.0M+115.8% | 19.0M | 0.00-100.0% | 342M-93.2% | |
| Proceeds from sale of PP&E | — | — | — | 0.00-100.0% | 17.0M-76.4% | |
| Other investing activities | 12.0M-14.3% | 14.0M+40.0% | 10.0M+25.0% | 8.00M+188.9% | -9.00M+65.4% | |
| -275M+81.6% | -1.49B-1697.6% | -83.0M+84.9% | -549M-361.4% | 210M-95.8% | ||
| Long-term debt issued | 2.11B+501.7% | 350M | 0.00-100.0% | 425M-15.0% | 500M-89.6% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00-100.0% | 425M-15.0% | 500M-59.0% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | -2.00M+88.2% | -17.0M-183.3% | -6.00M+81.3% | -32.0M-3.2% | -31.0M-93.8% | |
| FX effect on cash | 71.0M+178.0% | -91.0M-658.3% | -12.0M+29.4% | -17.0M+45.2% | -31.0M-214.8% | |
| Net change in cash | 77.0M-33.6% | 116M+1557.1% | 7.00M+102.4% | -293M-322.0% | 132M-18.0% | |
| Interest paid | 206M-30.4% | 296M-21.9% | 379M+42.5% | 266M+20.4% | 221M+68.7% | |
| Income taxes paid | 225M+60.7% | 140M+47.4% | 95.0M+2.2% | 93.0M-38.4% | 151M+55.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 11.3B+87.8% | 5.99B-18.4% | 7.34B+26.7% | 5.79B-56.8% | 13.4B-7.3% | |
| P/E | — | 17.7× | — | — | — | |
| P/S | 2.4×+76.8% | 1.3×-19.7% | 1.7×+31.7% | 1.3×-54.7% | 2.8×-36.3% | |
| P/B | 1.7×+74.9% | 1.0×-17.9% | 1.2×+38.7% | 0.9×-51.7% | 1.8×+4.5% | |
| P/FCF | 39.6×+160.6% | 15.2× | — | 11.8×-71.6% | 41.4× | |
| Earnings yield | — | 5.6% | — | — | — | |
| FCF yield | 2.5%-61.6% | 6.6% | — | 8.5%+251.9% | 2.4% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: ELAN’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ELAN filings on SEC EDGAR → Not investment advice.