Eli Lilly & Co. (LLY) financial statements: income statement, balance sheet and cash flow
Eli Lilly & Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Eli Lilly & Co. reported revenue of $65.2B (+44.7% year on year) and net income of $20.6B (+94.9% year on year).
Income statement
Eli Lilly & Co. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$65.2B
$45.0B
$34.1B
$28.5B
Cost of sales
$11.1B
$8.4B
$7.1B
$6.6B
Research and development
$13.3B
$11.0B
$9.3B
$7.2B
Marketing, selling, and administrative
$11.1B
$8.6B
$7.4B
$6.4B
Acquired in-process research and development
$2.9B
$3.3B
$3.8B
—
Asset impairment, restructuring, and other special charges
$484.0M
$860.6M
$67.7M
$244.6M
Other—net, (income) expense
$571.0M
$218.6M
($96.7M)
$320.9M
Costs, expenses, and other
$39.4B
$32.4B
$27.6B
$21.7B
Income before income taxes
$25.7B
$12.7B
$6.6B
$6.8B
Income taxes
$5.1B
$2.1B
$1.3B
$561.6M
Net income
$20.6B
$10.6B
$5.2B
$6.2B
Basic (in dollars per share)
$23.00
$11.76
$5.82
$6.93
Diluted (in dollars per share)
$22.95
$11.71
$5.80
$6.90
Basic (in shares)
897.3M
900.6M
900.2M
901.7M
Diluted (in shares)
899.3M
904.1M
903.3M
904.6M
Eli Lilly & Co. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenue
$23.0B
$19.8B
$17.6B
$15.6B
Cost of sales
$3.3B
$3.6B
$3.0B
$2.4B
Research and development
$3.8B
$3.5B
$3.5B
$3.3B
Marketing, selling, and administrative
$3.4B
$2.9B
$2.7B
$2.8B
Acquired in-process research and development
$2.8B
$584.0M
$655.7M
$153.8M
Asset impairment, restructuring, and other special charges
$703.0M
$279.0M
$364.9M
$0
Other–net, (income) expense
($269.0M)
$65.0M
$133.1M
$90.6M
Costs, expenses, and other
$13.7B
$10.9B
$10.4B
$8.8B
Income before income taxes
$9.2B
$8.8B
$7.2B
$6.8B
Income taxes
$2.2B
$1.5B
$1.6B
$1.1B
Net income
$7.1B
$7.4B
$5.6B
$5.7B
Basic (in dollars per share)
$7.95
$8.27
$6.22
$6.30
Diluted (in dollars per share)
$7.94
$8.26
$6.21
$6.29
Basic (in shares)
892.4M
894.5M
896.9M
897.9M
Diluted (in shares)
893.7M
895.9M
898.8M
899.8M
Balance sheet
Eli Lilly & Co. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$7.3B
$3.3B
$2.8B
$2.1B
Accounts receivable
$17.8B
$11.0B
$9.1B
$6.9B
Other receivables
$2.4B
$2.3B
$2.2B
$1.7B
Inventories
$13.7B
$7.6B
$5.8B
$4.3B
Prepaid expenses
$14.3B
$8.3B
$5.5B
—
Other current assets
$147.0M
$111.4M
$149.5M
—
Total current assets
$55.6B
$32.7B
$25.7B
$18.0B
Investments
$2.8B
$3.2B
$3.1B
$2.9B
Goodwill
$5.9B
$5.8B
$4.9B
$4.1B
Other intangibles, net
$6.5B
$6.2B
$6.9B
$7.2B
Deferred tax assets
$10.0B
$8.0B
$5.5B
$2.8B
Property and equipment, net
$24.7B
$17.1B
$12.9B
$10.1B
Other noncurrent assets
$7.0B
$5.7B
$5.0B
$4.3B
Total assets
$112.5B
$78.7B
$64.0B
$49.5B
Short-term borrowings and current maturities of long-term debt
$1.6B
$5.1B
$6.9B
$1.5B
Accounts payable
$5.4B
$3.2B
$2.6B
$1.9B
Employee compensation
$2.4B
$2.1B
$1.7B
$1.1B
Sales rebates and discounts
$17.4B
$11.5B
$11.7B
$8.8B
Other current liabilities
$8.5B
$5.1B
$3.3B
$2.4B
Total current liabilities
$35.2B
$28.4B
$27.3B
$17.1B
Long-term debt
$40.9B
$28.5B
$18.3B
$14.7B
Long-term income taxes payable
$5.9B
$4.1B
$3.8B
$3.7B
Other noncurrent liabilities
$4.0B
$2.2B
$2.2B
$1.7B
Total noncurrent liabilities
$50.7B
$36.1B
$25.8B
$21.6B
Common stock—no par value Authorized shares: 3,200.0 Issued shares: 944.8 (2025) and 947.9 (2024)
590.0M
592.4M
593.6M
594.1M
Additional paid-in capital
$7.3B
$7.4B
$7.3B
$6.9B
Retained earnings
$24.5B
$13.5B
$10.3B
$10.0B
Employee benefit trust
-3.0B
-3.0B
-3.0B
-3.0B
Accumulated other comprehensive loss
($2.9B)
($4.3B)
($4.3B)
($3.8B)
Other equity
$22.0M
—
—
—
Total equity
$26.5B
$14.2B
$10.8B
$10.6B
Total liabilities and equity
$112.5B
$78.7B
$64.0B
$49.5B
Eli Lilly & Co. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$8.9B
$5.3B
$9.8B
$3.4B
Accounts receivable
$20.1B
$18.4B
$16.1B
$14.2B
Other receivables
$3.4B
$2.7B
$3.3B
$3.0B
Inventories
$16.8B
$14.5B
$12.2B
$11.0B
Prepaid expenses
$15.4B
$13.6B
$20.2B
$18.0B
Other current assets
$86.0M
$214.0M
$271.5M
$68.8M
Total current assets
$64.7B
$54.8B
$62.1B
$49.9B
Investments
$3.9B
$3.1B
$2.8B
$3.2B
Goodwill
$8.8B
$6.1B
$5.9B
$5.8B
Other intangibles, net
$18.1B
$7.4B
$6.4B
$5.9B
Deferred tax assets
$10.0B
$11.3B
$9.0B
$9.4B
Property and equipment, net of accumulated depreciation of $13,103 (2026) and $12,560 (2025)
$29.3B
$26.5B
$22.3B
$20.5B
Other noncurrent assets
$7.5B
$7.2B
$6.4B
$6.2B
Total assets
$142.3B
$116.6B
$114.9B
$100.9B
Short-term borrowings and current maturities of long-term debt
$7.0B
$4.0B
$1.6B
$5.7B
Accounts payable
$6.1B
$5.0B
$4.3B
$4.1B
Employee compensation
$1.8B
$1.4B
$2.0B
$1.3B
Sales rebates and discounts
$21.1B
$17.5B
$17.6B
$14.5B
Other current liabilities
$11.7B
$8.7B
$5.2B
$5.1B
Total current liabilities
$47.7B
$36.6B
$40.1B
$39.0B
Long-term debt
$47.9B
$39.4B
$40.9B
$34.2B
Long-term income taxes payable
$5.5B
$5.3B
$6.3B
$5.7B
Other noncurrent liabilities
$7.3B
$4.1B
$3.8B
$2.3B
Total noncurrent liabilities
$60.7B
$48.7B
$50.9B
$43.6B
Common stock
$588.0M
$590.0M
$591.4M
$592.0M
Additional paid-in capital
$7.1B
$6.9B
$7.2B
$7.1B
Retained earnings
$31.9B
$29.5B
$22.3B
$17.4B
Employee benefit trust
-3.0B
-3.0B
-3.0B
-3.0B
Accumulated other comprehensive loss
($2.8B)
($2.8B)
($3.2B)
($3.7B)
Other equity
$55.0M
$19.0M
—
—
Total equity
$33.9B
$31.2B
$23.8B
$18.3B
Total liabilities and equity
$142.3B
$116.6B
$114.9B
$100.9B
Cash flow statement
Eli Lilly & Co. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$20.6B
$10.6B
$5.2B
$6.2B
Depreciation and amortization
$2.0B
$1.8B
$1.5B
$1.5B
Change in deferred income taxes
($1.7B)
($2.7B)
($2.3B)
($2.2B)
Stock-based compensation expense
$626.0M
$645.6M
$628.5M
$371.1M
Gains on sale of product rights
($180.0M)
($223.8M)
($1.9B)
—
Acquired in-process research and development
$2.9B
$3.3B
$3.8B
—
Other operating activities, net
$620.0M
$777.4M
$295.5M
$304.8M
Receivables—(increase) decrease
($7.0B)
($2.2B)
($2.5B)
($299.6M)
Inventories—(increase) decrease
($4.7B)
($2.5B)
($1.4B)
($599.7M)
Prepaid expenses and other assets—(increase) decrease
($6.6B)
($3.3B)
—
—
Accounts payable and other liabilities—increase (decrease)
$10.2B
$2.6B
$4.3B
$1.3B
Net Cash Provided by Operating Activities
$16.8B
$8.8B
$4.2B
$7.1B
Purchases of property and equipment
($7.8B)
($5.1B)
($3.4B)
($1.9B)
Proceeds from sales of and distributions from noncurrent investments
$964.0M
$373.6M
$508.1M
$342.2M
Purchases of noncurrent investments
($645.0M)
($677.3M)
($730.8M)
($600.2M)
Proceeds from sale of product rights
$218.0M
$601.3M
$1.6B
—
Purchases of in-process research and development
($3.0B)
($3.3B)
($3.9B)
($629.7M)
Cash paid for acquisitions, net of cash acquired
($661.0M)
($947.7M)
($1.0B)
—
Other investing activities, net
$1.0M
($298.2M)
($191.9M)
($206.4M)
Net Cash Used for Investing Activities
($11.0B)
($9.3B)
($7.2B)
($3.3B)
Dividends paid
($5.4B)
($4.7B)
($4.1B)
($3.5B)
Net change in short-term borrowings
($4.3B)
($1.9B)
$4.7B
$1.5B
Proceeds from issuance of long-term debt
$13.2B
$11.4B
$4.0B
$0
Repayments of long-term debt
($778.0M)
($664.2M)
$0
($1.6B)
Purchases of common stock
($4.1B)
($2.5B)
($750.0M)
($1.5B)
Other financing activities, net
($772.0M)
($490.6M)
($335.0M)
($308.9M)
Net Cash Provided by (Used for) Financing Activities
($2.2B)
$1.2B
$3.5B
($5.4B)
Effect of exchange rate changes on cash and cash equivalents
$372.0M
($296.7M)
$168.6M
($167.6M)
Net increase in cash and cash equivalents
$4.0B
$449.8M
$751.6M
($1.8B)
Cash and cash equivalents at beginning of year
$3.3B
$2.8B
$2.1B
$3.8B
Cash and Cash Equivalents at End of Year
$7.3B
$3.3B
$2.8B
$2.1B
Eli Lilly & Co. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$14.5B
$7.4B
$14.0B
$8.4B
Depreciation and amortization
$1.0B
$509.0M
$1.4B
$941.3M
Change in deferred income taxes
($433.0M)
($1.5B)
($958.9M)
($1.5B)
Stock-based compensation expense
$362.0M
$161.0M
$489.9M
$338.8M
Acquired in-process research and development
$3.4B
$584.0M
$2.4B
$1.7B
Other changes in operating assets and liabilities, net of acquisitions and divestitures
($2.3B)
($1.7B)
($4.4B)
($5.6B)
Other operating activities, net
($466.0M)
($175.0M)
$681.5M
$379.2M
Net Cash Provided by Operating Activities
$16.0B
$5.3B
$13.6B
$4.8B
Purchases of property and equipment
($5.3B)
($2.3B)
($5.3B)
($3.2B)
Purchases of noncurrent investments
($604.0M)
($297.0M)
($518.0M)
($367.9M)
Purchases of in-process research and development
($3.5B)
($204.0M)
($2.6B)
($1.9B)
Cash paid for acquisitions, net of cash acquired
($9.8B)
($1.1B)
($549.4M)
$0
Other investing activities, net
($158.0M)
($31.0M)
($55.8M)
($24.8M)
Net Cash Used for Investing Activities
($19.3B)
($3.9B)
($8.2B)
($5.2B)
Dividends paid
($3.1B)
($1.5B)
($4.0B)
($2.7B)
Net change in short-term borrowings
$5.3B
$1.8B
($4.3B)
($245.9M)
Proceeds from issuance of long-term debt
$8.9B
$0
$13.2B
$6.5B
Repayments of long-term debt
($1.6B)
($750.0M)
($778.1M)
($778.1M)
Purchases of common stock
($4.0B)
($2.4B)
($2.6B)
($1.9B)
Other financing activities, net
($595.0M)
($591.0M)
($746.9M)
($716.7M)
Net Cash Provided by Financing Activities
$5.0B
($3.5B)
$665.8M
$134.8M
Effect of exchange rate changes on cash and cash equivalents