LLY ELI LILLY & Co

Overview and Growth

Fiscal 2025 results for ELI LILLY & Co combined $65.18B of revenue with net income of $20.64B and an operating cash inflow of $16.81B. The $65.18B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 44.7% from $45.04B in fiscal 2024, increasing the company’s operating scale. The company reported diluted EPS of $22.95, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS increased by 96.0% from $11.71 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Total assets stood at $112.48B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Asset turnover was 0.58x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

Gross profit was $54.13B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 83.0% of revenue, quantifying the portion retained before operating expenses were recognized. The bottom-line result was net income of $20.64B, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 31.7% margin after operating costs and the remaining recognized items. Pretax income was $25.73B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 39.5% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $5.09B, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 19.8%, quantifying the portion of pre-tax earnings paid in income tax. Return on period-end equity was 77.8%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 18.4%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

The company held $112.48B of assets against $85.94B of liabilities and $26.54B of equity, revealing how the asset base was financed. The near-term balance sheet paired $55.63B of current assets with $35.23B of current liabilities at the reporting date. Current assets covered current liabilities by 1.58x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $7.27B, identifying the most liquid reported component available within the broader current-asset balance. Cash and equivalents represented 20.6% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Total debt was $42.50B, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 1.6x, showing how much debt the company carried for each unit of book equity. Debt represented 37.8% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 76.4%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 6.5%, comparing reported cash and equivalents with the full positive asset balance. Compared with $78.71B in fiscal 2024, the current asset base moved 42.9% and finished higher. Book equity was 85.9% higher than fiscal 2024 equity of $14.27B, showing how shareholder capital changed year over year. Cash and equivalents were 122.4% higher than fiscal 2024 cash of $3.27B, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $16.81B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 0.81x of net income, showing how strongly accounting earnings converted into cash from operations.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.