ELI LILLY & Co

Listed Company

LLYCIK 0000059478NYSELarge AcceleratedPharmaceutical PreparationsIndianaFY ends Dec 31

Period

FY 2025

Revenue

$65.18B

Net Income

$20.64B

Total Assets

$112.48B

Equity

$26.54B

Shares Out

941.74M

Op. Cash Flow

$16.81B

Business

ELI LILLY & Co discovers, develops, manufactures, and markets human pharmaceutical products in a single business segment focused on prescription medicines. Its product portfolio spans cardiometabolic health (insulins and agents for diabetes and obesity), oncology, immunology, and neuroscience, with marketed medicines such as insulins, Mounjaro/Trulicity/Jardiance, Cyramza/Erbitux/Verzenio, Olumiant/Taltz, and Emgality/Kisunla. The company operates integrated R&D, manufacturing, quality and commercial functions and engages in collaborations and licensing arrangements for development and marketing. Lilly markets and distributes products worldwide, manufacturing in the U.S., Europe and Asia and using wholesalers, sales forces, third-party partners and digital channels.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	65,179	45,043	34,124	28,541	28,318
Cost of sales	11,052	8,418	7,082	6,630	7,313
Research and development	13,337	10,991	9,313	7,191	6,931
Marketing, selling, and administrative	11,094	8,594	7,404	6,440	6,432
Acquired in-process research and development	2,900	3,300	3,800	909	970
Asset impairment, restructuring, and other special charges	484	861	68	245	316
Othernet, (income) expense	571	219	−97	321	202
Costs, expenses, and other	39,448	32,363	27,570	21,735	22,163
Income before income taxes	25,731	12,680	6,554	6,806	6,156
Income taxes	5,091	2,090	1,314	562	574
Net income	20,640	10,590	5,240	6,245	5,582
Basic (in dollars per share)	23	11.76	5.82	6.93	6.15
Diluted (in dollars per share)	22.95	11.71	5.8	6.9	6.12
Basic (in shares)	897	901	900	902	907
Diluted (in shares)	899	904	903	905	912

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7,268	3,268	2,819	2,067	3,819
Accounts receivable	17,760	11,006	9,091	6,896	6,673
Other receivables	2,395	2,270	2,246	1,663	—
Inventories	13,744	7,589	5,773	4,310	3,886
Prepaid expenses	14,315	8,341	5,541	2,947	2,531
Other current assets	147	266	150	7	—
Total current assets	55,629	32,740	25,727	18,035	18,452
Investments	2,802	3,216	3,052	2,902	3,213
Goodwill	5,898	5,770	4,940	4,073	3,892
Other intangibles, net	6,521	6,166	6,907	7,207	7,692
Deferred tax assets	9,959	8,001	5,477	2,793	2,489
Property and equipment, net	24,675	17,102	12,914	10,144	8,985
Other noncurrent assets	6,992	5,720	4,990	4,337	—
Total assets	112,476	78,715	64,006	49,490	48,806
Short-term borrowings and current maturities of long-term debt	1,635	5,117	6,905	1,501	1,538
Accounts payable	5,379	3,229	2,599	1,931	1,671
Employee compensation	2,375	2,094	1,650	1,060	958
Sales rebates and discounts	17,382	11,539	11,689	8,784	6,846
Other current liabilities	8,457	6,397	3,281	2,845	3,028
Total current liabilities	35,228	28,376	27,293	17,138	15,053
Long-term debt	40,868	28,527	18,321	14,738	15,346
Long-term income taxes payable	5,875	4,061	3,849	3,710	3,920
Other noncurrent liabilities	3,970	3,479	2,241	1,824	1,644
Total noncurrent liabilities	50,713	36,067	25,849	21,576	24,599
Commitments and Contingencies	—	—	—	—	—
Common stockno par value Authorized shares: 3,200.0 Issued shares: 944.8 (2025) and 947.9 (2024)	590	592	594	594	596
Additional paid-in capital	7,346	7,439	7,250	6,921	6,833
Retained earnings	24,470	13,545	10,312	10,043	8,959
Employee benefit trust	−3,000	−3,000	−3,010	−3,010	−3,010
Accumulated other comprehensive loss	−2,880	−4,322	−4,327	−3,845	−4,343
Other equity	22	31	—	—	—
Total equity	26,535	14,272	10,772	10,650	8,979
Total liabilities and equity	112,476	78,715	64,006	49,490	48,806

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,997	1,767	1,527	1,523	1,548
Change in deferred income taxes	−1,707	−2,683	−2,341	−2,185	−802
Stock-based compensation expense	626	646	629	371	343
Gains on sale of product rights	−180	−224	−1,879	−157	−216
Other operating activities, net	620	826	319	461	727
Receivables(increase) decrease	−7,000	−2,155	−2,451	−300	−1,278
Inventories(increase) decrease	−4,671	−2,507	−1,425	−600	−236
Prepaid expenses and other assets(increase) decrease	−6,609	−3,331	−3,453	−794	—
Accounts payable and other liabilitiesincrease (decrease)	10,187	2,609	4,274	1,692	−1,014
Net Cash Provided by Operating Activities	16,813	8,818	4,240	7,586	7,366
Purchases of property and equipment	−7,841	−5,058	−3,448	−1,854	−1,310
Proceeds from sales of and distributions from noncurrent investments	964	374	508	342	800
Purchases of noncurrent investments	−645	−677	−731	−600	−930
Proceeds from sale of product rights	218	601	1,604	96	216
Purchases of in-process research and development	−3,008	−3,346	−3,944	−1,131	−669
Cash paid for acquisitions, net of cash acquired	−661	−948	−1,044	−327	−747
Other investing activities, net	1	−248	−98	−302	−192
Net Cash Used for Investing Activities	−10,972	−9,302	−7,153	−3,763	−2,868
Dividends paid	−5,384	−4,680	−4,069	−3,536	−3,087
Net change in short-term borrowings	−4,338	−1,852	4,691	1,498	−4
Proceeds from issuance of long-term debt	13,167	11,417	3,959	0	2,411
Repayments of long-term debt	−778	−664	0	−1,560	−1,905
Purchases of common stock	−4,108	−2,500	−750	−1,500	−1,250
Other financing activities, net	−772	−491	−335	−309	−296
Net Cash Provided by (Used for) Financing Activities	−2,213	1,230	3,496	−5,407	−4,131
Effect of exchange rate changes on cash and cash equivalents	372	−297	169	−168	−206
Net increase in cash and cash equivalents	4,000	449	752	−1,752	161

Filings

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