LLY financial statements

The full income statement, balance sheet, and cash-flow statement for Eli Lilly and Company (LLY), 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)

2024-06 904.2M2024-09 905.0M2024-12 903.2M2025-03 900.6M2025-06 899.8M2025-09 898.8M2025-12 898.1M2026-03 895.9M2026-06 893.7M-1.2% 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.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	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	65.2B YoY+44.7%	45.0B YoY+32.0%	34.1B YoY+19.6%	28.5B YoY+0.8%	28.3B YoY+15.4%
Cost of revenue	11.1B YoY+31.3%	8.42B YoY+18.9%	7.08B YoY+6.8%	6.63B YoY-9.3%	7.31B YoY+33.4%
Research & development	13.3B YoY+21.3%	11.0B YoY+18.0%	9.31B YoY+29.5%	7.19B YoY+3.8%	6.93B YoY+16.0%
Selling, general & administrative	11.1B YoY+29.1%	8.59B YoY+16.1%	7.40B YoY+15.0%	6.44B YoY+0.1%	6.43B YoY+5.1%
Amortization of intangibles	488M YoY-11.8%	553M YoY+9.3%	506M YoY-12.7%	580M YoY-7.8%	629M YoY+46.8%
Interest expense	895M YoY+14.6%	781M YoY+60.7%	486M YoY+46.5%	332M YoY-2.4%	340M YoY-5.5%
Interest & investment income	—	175M YoY+0.9%	174M YoY+176.4%	62.8M YoY+147.2%	25.4M YoY-23.0%
Other non-operating income	-571M YoY-2148.0%	-25.4M YoY+22.3%	-32.7M YoY-128.7%	-14.3M YoY-127.8%	51.4M YoY+126.3%
Gain (loss) on equity securities	—	-49.5M YoY-145.0%	-20.2M YoY+95.1%	-411M YoY-332.2%	177M YoY-87.7%
Pre-tax income	25.7B YoY+102.9%	12.7B YoY+93.5%	6.55B YoY-3.7%	6.81B YoY+10.6%	6.16B YoY-14.9%
Income tax	5.09B YoY+143.6%	2.09B YoY+59.1%	1.31B YoY+134.0%	562M YoY-2.1%	574M YoY-44.6%
	20.6B YoY+94.9%	10.6B YoY+102.1%	5.24B YoY-16.1%	6.24B YoY+11.9%	5.58B YoY-9.9%
Discontinued operations	—	—	—	—	0.00
	$22.95 YoY+96.0%	$11.71 YoY+101.9%	$5.80 YoY-15.9%	$6.90 YoY+12.7%	$6.12 YoY-9.9%
EPS (basic)	$23.00 YoY+95.6%	$11.76 YoY+102.1%	$5.82 YoY-16.0%	$6.93 YoY+12.7%	$6.15 YoY-9.8%
	897M YoY-0.4%	901M YoY+0.0%	900M YoY-0.2%	902M YoY-0.6%	907M YoY-0.1%
	899M YoY-0.5%	904M YoY+0.1%	903M YoY-0.1%	905M YoY-0.8%	912M YoY-0.1%
Dividends per share	$6.23 YoY+15.4%	$5.40 YoY+15.1%	$4.69 YoY+15.2%	$4.07 YoY+15.3%	$3.53 YoY+15.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	55.6B YoY+69.9%	32.7B YoY+27.3%	25.7B YoY+42.7%	18.0B YoY-2.3%	18.5B YoY+5.7%
Cash & equivalents	7.27B YoY+122.4%	3.27B YoY+15.9%	2.82B YoY+36.4%	2.07B YoY-45.9%	3.82B YoY+4.4%
Short-term investments	—	155M YoY+41.9%	109M YoY-24.7%	145M YoY+60.7%	90.1M YoY+272.3%
Accounts receivable	17.8B YoY+61.4%	11.0B YoY+21.1%	9.09B YoY+31.8%	6.90B YoY+3.3%	6.67B YoY+13.6%
Inventory	13.7B YoY+81.1%	7.59B YoY+31.5%	5.77B YoY+33.9%	4.31B YoY+10.9%	3.89B YoY-2.4%
Prepaid expenses	14.3B YoY+71.6%	8.34B YoY+50.5%	5.54B YoY+87.6%	2.95B YoY+16.7%	2.53B YoY-11.9%
Other current assets	147M YoY-44.7%	266M YoY+77.9%	150M YoY+1947.9%	7.30M	—
	112B YoY+42.9%	78.7B YoY+23.0%	64.0B YoY+29.3%	49.5B YoY+1.4%	48.8B YoY+4.7%
Property, plant & equipment	24.7B YoY+44.3%	17.1B YoY+32.4%	12.9B YoY+27.3%	10.1B YoY+12.9%	8.99B YoY+3.5%
Operating lease right-of-use	1.26B YoY+20.0%	1.05B YoY+2.5%	1.02B	—	—
Goodwill	5.90B YoY+2.2%	5.77B YoY+16.8%	4.94B YoY+21.3%	4.07B YoY+4.7%	3.89B YoY+3.3%
Intangible assets	6.52B YoY+5.8%	6.17B YoY-10.7%	6.91B YoY-4.2%	7.21B YoY-6.3%	7.69B YoY+3.2%
Long-term investments	2.80B YoY-12.9%	3.22B YoY+5.4%	3.05B YoY+5.2%	2.90B YoY-9.7%	3.21B YoY+8.3%
Deferred tax assets	9.96B YoY+24.5%	8.00B YoY+46.1%	5.48B YoY+96.1%	2.79B YoY+12.2%	2.49B YoY-12.1%
Other non-current assets	6.99B YoY+22.2%	5.72B YoY+14.6%	4.99B YoY+15.1%	4.34B YoY+6.2%	4.08B YoY+17.5%
	35.2B YoY+24.1%	28.4B YoY+4.0%	27.3B YoY+59.3%	17.1B YoY+13.9%	15.1B YoY+20.6%
Accounts payable	5.38B YoY+66.6%	3.23B YoY+24.2%	2.60B YoY+34.6%	1.93B YoY+15.6%	1.67B YoY+4.0%
Short-term & current debt	1.64B YoY-68.0%	5.12B YoY-25.9%	6.90B YoY+360.0%	1.50B YoY-2.4%	1.54B YoY+17581.6%
Current lease liability	222M YoY+26.1%	176M YoY+12.6%	156M	—	—
Other current liabilities	8.46B YoY+32.2%	6.40B YoY+95.0%	3.28B YoY+15.3%	2.85B YoY-6.0%	3.03B YoY+10.1%
Long-term debt	40.9B YoY+43.3%	28.5B YoY+55.7%	18.3B YoY+24.3%	14.7B YoY-4.0%	15.3B YoY-7.5%
Non-current lease liability	1.14B YoY+17.4%	971M YoY+2.4%	949M	—	—
Operating lease liability (total)	—	1.15B YoY+3.5%	1.11B YoY+52.1%	728M YoY+6.2%	686M YoY+3.3%
Deferred tax liabilities	—	—	—	87.3M YoY-95.0%	1.73B YoY-17.4%
Other non-current liabilities	3.97B YoY+14.1%	3.48B YoY+55.3%	2.24B YoY+22.8%	1.82B YoY+10.9%	1.64B YoY-3.7%
Total non-current liabilities	50.7B YoY+40.6%	36.1B YoY+39.5%	25.8B YoY+19.8%	21.6B YoY-12.3%	24.6B YoY-13.2%
	26.5B YoY+85.9%	14.3B YoY+32.5%	10.8B YoY+1.1%	10.6B YoY+18.6%	8.98B YoY+59.2%
Common stock	590M YoY-0.3%	592M YoY-0.3%	594M YoY-0.1%	594M YoY-0.4%	596M YoY-0.3%
Additional paid-in capital	7.35B YoY-1.3%	7.44B YoY+2.6%	7.25B YoY+4.8%	6.92B YoY+1.3%	6.83B YoY+0.8%
Retained earnings	24.5B YoY+80.7%	13.5B YoY+31.3%	10.3B YoY+2.7%	10.0B YoY+12.1%	8.96B YoY+14.4%
Treasury stock	—	49.5M YoY+12.0%	44.2M YoY-12.5%	50.5M YoY-4.2%	52.7M YoY-5.4%
Accumulated other comprehensive income	-2.88B YoY+33.4%	-4.32B YoY+0.1%	-4.33B YoY-12.5%	-3.84B YoY+11.5%	-4.34B YoY+33.1%
Non-controlling interest	—	79.5M YoY-13.4%	91.8M YoY-26.9%	126M YoY-28.5%	176M YoY-4.4%
Total equity incl. non-controlling	—	14.3B YoY+31.4%	10.9B YoY+0.8%	10.8B YoY+17.7%	9.15B YoY+57.2%
Total liabilities & equity	112B YoY+42.9%	78.7B YoY+23.0%	64.0B YoY+29.3%	49.5B YoY+1.4%	48.8B YoY+4.7%
	945M YoY-0.3%	948M YoY-0.2%	950M YoY-0.1%	951M YoY-0.4%	954M YoY-0.3%
	943M YoY-0.5%	948M YoY-0.2%	950M YoY-0.0%	950M YoY-0.2%	952M YoY-0.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	16.8B YoY+90.7%	8.82B YoY+108.0%	4.24B YoY-44.1%	7.59B YoY+3.0%	7.37B YoY+13.3%
Depreciation & amortization	2.00B YoY+13.0%	1.77B YoY+15.7%	1.53B YoY+0.3%	1.52B YoY-1.6%	1.55B YoY+16.9%
Intangible amortization	488M YoY-11.8%	553M YoY+9.3%	506M YoY-12.7%	580M YoY-7.8%	629M YoY+46.8%
Share-based compensation	626M YoY-3.1%	646M YoY+2.7%	629M YoY+69.5%	371M YoY+8.3%	343M YoY+11.3%
Deferred income taxes	-1.71B YoY+36.4%	-2.68B YoY-14.6%	-2.34B YoY-7.1%	-2.19B YoY-172.4%	-802M YoY-496.5%
Change in inventory	4.67B YoY+86.3%	2.51B YoY+75.9%	1.43B YoY+137.6%	600M YoY+154.2%	236M YoY-55.8%
Other operating activities	620M YoY-24.9%	826M YoY+158.9%	319M YoY-30.8%	461M YoY-36.6%	727M YoY+117.8%
	-11.0B YoY-18.0%	-9.30B YoY-30.0%	-7.15B YoY-90.1%	-3.76B YoY-31.2%	-2.87B YoY-26.9%
Acquisitions	0.00	0.00	0.00 YoY-100.0%	327M YoY-56.2%	747M YoY-12.0%
Other investing activities	-1.00M YoY-100.4%	248M YoY+153.1%	98.0M YoY-67.6%	302M YoY+57.6%	192M YoY+286.5%
	-2.21B YoY-279.9%	1.23B YoY-64.8%	3.50B YoY+164.7%	-5.41B YoY-30.9%	-4.13B YoY-31.7%
Long-term debt issued	13.2B YoY+15.3%	11.4B YoY+188.4%	3.96B	0.00 YoY-100.0%	2.41B YoY+16.9%
Long-term debt repaid	778M YoY+17.2%	664M	0.00 YoY-100.0%	1.56B YoY-18.1%	1.91B YoY+589.1%
Net short-term debt	-4.34B YoY-134.2%	-1.85B YoY-139.5%	4.69B YoY+213.2%	1.50B YoY+37550.0%	-4.00M YoY+99.7%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	4.11B YoY+64.3%	2.50B YoY+233.3%	750M YoY-50.0%	1.50B YoY+20.0%	1.25B YoY+150.0%
Dividends paid	5.38B YoY+15.0%	4.68B YoY+15.0%	4.07B YoY+15.1%	3.54B YoY+14.5%	3.09B YoY+14.9%
Other financing activities	-772M YoY-57.2%	-491M YoY-46.6%	-335M YoY-8.4%	-309M YoY-4.4%	-296M YoY-22.5%
FX effect on cash	372M YoY+225.3%	-297M YoY-275.7%	169M YoY+200.8%	-168M YoY+18.5%	-206M YoY-195.2%
Net change in cash	4.00B YoY+790.9%	449M YoY-40.3%	752M YoY+142.9%	-1.75B YoY-1185.2%	161M YoY-87.8%
Interest paid	633M YoY+9.5%	578M YoY+43.1%	404M YoY+24.8%	324M YoY-4.2%	338M YoY-2.3%
Income taxes paid	10.8B YoY+64.8%	6.56B YoY+18.0%	5.56B YoY+108.0%	2.67B YoY+67.2%	1.60B YoY+67.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	965B YoY+38.4%	697B YoY+32.9%	525B YoY+58.6%	331B YoY+31.3%	252B YoY+63.1%
P/E	46.8× YoY-29.0%	65.8× YoY-37.4%	105.1× YoY+91.9%	54.8× YoY+21.5%	45.1× YoY+81.0%
P/S	14.8× YoY-4.3%	15.5× YoY-5.3%	16.4× YoY+44.6%	11.3× YoY+27.2%	8.9× YoY+41.4%
P/B	36.4× YoY-25.5%	48.9× YoY+4.5%	46.7× YoY+42.4%	32.8× YoY+17.1%	28.0× YoY+2.5%
	2.1% YoY+40.8%	1.5% YoY+59.7%	0.95% YoY-47.9%	1.8% YoY-17.7%	2.2% YoY-44.8%
	0.58% YoY-17.1%	0.70% YoY-13.1%	0.80% YoY-27.7%	1.1% YoY-12.9%	1.3% YoY-29.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: LLY'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 LLY filings on SEC EDGAR → Not investment advice.