ELI LILLY & CO
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 42,503 | 61.6 |
| Stockholders' equity | 26,535 | 38.4 |
| Total capitalization | 69,038 | 100.0 |
941,357,065 shares outstanding at 3 August 2026 (cover page of the 10-Q filed 5 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 42,503 |
| Long-term debt, noncurrent | 40,868 |
| Current maturities | 1,635 |
| Short-term borrowings / commercial paper | 0 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 3,200,000,000 |
| Common shares issued | 944,800,000 |
| Outstanding at 8/3/26 | 941,357,065 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 6.23 | 27.1 |
| 2024 | 5.40 | 46.1 |
| 2023 | 4.69 | 80.9 |
| 2022 | 4.07 | 59.0 |
| 2021 | 3.53 | 57.7 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Indiana. Formerly known as LILLY ELI & CO (to 25 October 2019); LILLY ELI & CO ET AL (to 14 October 1994).
BUSINESS: Classified by the SEC under Standard Industrial Classification 2834, Pharmaceutical Preparations. Large accelerated filer. Principal executive office: Lilly Corporate Ctr, Drop Code 1094, Indianapolis, IN 46285. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 65,179 | 45,043 | 34,124 |
| Cost of revenues | 11,052 | 8,418 | 7,082 |
| Research and development | 13,337 | 10,991 | 9,313 |
| Selling, general and administrative | 11,094 | 8,594 | 7,404 |
| Depreciation and amortization | 1,997 | 1,767 | 1,527 |
| Interest expense | 895 | 781 | 486 |
| Income before income taxes | 25,731 | 12,680 | 6,554 |
| Income taxes | 5,091 | 2,090 | 1,314 |
| Net income | 20,640 | 10,590 | 5,240 |
| Earned per share, diluted ($) | 22.95 | 11.71 | 5.80 |
| Dividends per share ($) | 6.23 | 5.40 | 4.69 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 7,268 | 3,268 |
| Receivables, net | 17,760 | 11,006 |
| Inventories | 13,744 | 7,589 |
| Total current assets | 55,629 | 32,740 |
| Property, plant and equipment, net | 24,675 | 17,102 |
| Goodwill | 5,898 | 5,770 |
| Total assets | 112,476 | 78,715 |
| Total current liabilities | 35,228 | 28,376 |
| Long-term debt | 40,868 | 28,527 |
| Stockholders' equity | 26,535 | 14,272 |
| Total liabilities and equity | 112,476 | 78,715 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 65,179 | – | 20,640 | 31.7 | 22.95 | 6.23 | 16,813 | – | – | 112,476 | 85,941d | 42,503 | 26,535 | 77.8 | 1.60 |
| 12/31/24 | 45,043 | – | 10,590 | 23.5 | 11.71 | 5.40 | 8,818 | – | – | 78,715 | 64,443d | 33,812 | 14,272 | 74.2 | 2.37 |
| 12/31/23 | 34,124 | – | 5,240 | 15.4 | 5.80 | 4.69 | 4,240 | – | – | 64,006 | 53,143d | 25,294 | 10,772 | 48.6 | 2.35 |
| 12/31/22 | 28,541 | – | 6,245 | 21.9 | 6.90 | 4.07 | 7,586 | – | – | 49,490 | 38,714d | 16,313 | 10,650 | 58.6 | 1.53 |
| 12/31/21 | 28,318 | – | 5,582 | 19.7 | 6.12 | 3.53 | 7,366 | – | – | 48,806 | 39,651d | 16,741 | 8,979 | 62.2 | 1.86 |
| 12/31/20 | 24,540 | – | 6,194 | 25.2 | 6.79 | 3.07 | 6,500 | – | – | 46,633 | 40,808d | 16,349 | 5,642 | 109.8 | 2.90 |
| 12/31/19 | 22,320 | – | 8,318 | 37.3 | 8.89 | 2.68 | 4,837 | – | – | 39,286 | 36,587d | 15,133 | 2,607 | 319.1 | 5.80 |
| 12/31/18 | 21,493 | – | 3,232 | 15.0 | 3.13 | 2.33 | 5,524 | – | – | 43,908 | 32,999d | 10,798 | 9,829 | 32.9 | 1.10 |
| 12/31/17 | 19,974 | – | (204) | -1.0 | (0.19) | 2.12 | 5,616 | – | – | 44,981 | 33,313d | 16,344 | 11,592 | -1.8 | 1.41 |
| 12/31/16 | 21,222 | – | 2,738 | 12.9 | 2.58 | 2.05 | 4,851 | – | – | 38,806 | 24,725d | 10,305 | 14,008 | 19.5 | 0.74 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
ELI LILLY & Co
CIK 59478
PRINCIPAL OFFICE:
Lilly Corporate Ctr, Drop Code 1094, Indianapolis, IN 46285
Tel.: 3172762000
INCORPORATED:
Indiana
INDUSTRY (SEC SIC CODE):
2834 · Pharmaceutical Preparations
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 12 February 2026
FORMER NAMES:
LILLY ELI & CO; LILLY ELI & CO ET AL
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/12/26) · 10-K FY2024 (filed 2/19/25) · 10-K FY2023 (filed 2/21/24) · 10-K FY2022 (filed 2/22/23) · 10-K FY2021 (filed 2/23/22) · 10-K FY2020 (filed 2/17/21) · 10-K FY2019 (filed 2/19/20) · 10-K FY2018 (filed 2/19/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.