Debt to Equity
since 2005

Eli Lilly & Co., debt to equity, long-term trends, calculation

	Debt to equity	=	Total debt¹	÷	Total Eli Lilly and Company shareholders’ equity¹
Dec 31, 2023	2.34	=	25,225,300)	÷	10,771,900)
Dec 31, 2022	1.52	=	16,238,600)	÷	10,649,800)
Dec 31, 2021	1.88	=	16,884,700)	÷	8,979,200)
Dec 31, 2020	2.94	=	16,595,300)	÷	5,641,600)
Dec 31, 2019	5.88	=	15,317,200)	÷	2,606,900)
Dec 31, 2018	1.30	=	12,770,900)	÷	9,828,700)
Dec 31, 2017	1.18	=	13,647,100)	÷	11,592,200)
Dec 31, 2016	0.74	=	10,305,200)	÷	14,007,700)
Dec 31, 2015	0.55	=	7,978,500)	÷	14,571,300)
Dec 31, 2014	0.52	=	8,056,400)	÷	15,373,200)
Dec 31, 2013	0.30	=	5,212,900)	÷	17,631,400)
Dec 31, 2012	0.37	=	5,531,300)	÷	14,765,200)
Dec 31, 2011	0.52	=	6,987,000)	÷	13,541,700)
Dec 31, 2010	0.56	=	6,926,500)	÷	12,420,300)
Dec 31, 2009	0.70	=	6,662,100)	÷	9,523,700)
Dec 31, 2008	1.55	=	10,462,000)	÷	6,735,300)
Dec 31, 2007	0.37	=	5,007,200)	÷	13,664,400)
Dec 31, 2006	0.34	=	3,713,800)	÷	10,980,700)
Dec 31, 2005	0.60	=	6,498,200)	÷	10,791,900)

¹ US$ in thousands

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Eli Lilly & Co., debt to equity, long-term trends, comparison to competitors

	Eli Lilly & Co.	AbbVie Inc.	Amgen Inc.	Bristol-Myers Squibb Co.	Danaher Corp.	Gilead Sciences Inc.	Johnson & Johnson	Merck & Co. Inc.	Pfizer Inc.	Regeneron Pharmaceuticals Inc.	Thermo Fisher Scientific Inc.
Dec 31, 2023	2.34	5.73	10.37	1.35	0.34	1.09	0.43	0.93	0.81	0.10	0.75
Dec 31, 2022	1.52	3.67	10.64	1.27	0.39	1.19	0.52	0.67	0.37	0.12	0.78
Dec 31, 2021	1.88	4.98	4.97	1.24	0.49	1.27	0.46	0.87	0.50	0.14	0.85
Dec 31, 2020	2.94	6.58	3.51	1.34	0.53	1.73	0.56	1.26	0.63	0.24	0.63
Dec 31, 2019	5.88	—	3.09	0.91	0.72	1.09	0.47	1.02	0.83	0.06	0.60
Dec 31, 2018	1.30	—	2.71	0.52	0.35	1.28	0.51	0.94	0.66	0.08	0.69
Dec 31, 2017	1.18	7.33	1.40	0.68	0.40	1.64	0.57	0.71	0.60	0.11	0.83
Dec 31, 2016	0.74	7.95	1.16	0.41	0.53	1.39	0.39	0.62	0.71	0.11	0.77
Dec 31, 2015	0.55	8.03	1.12	0.47	0.54	1.20	0.28	0.59	0.60	0.10	0.59
Dec 31, 2014	0.52	8.62	1.19	0.53	0.15	0.80	0.27	0.44	0.51	0.18	0.71
Dec 31, 2013	0.30	3.28	1.45	0.55	0.16	0.58	0.25	0.50	0.48	0.26	0.62
Dec 31, 2012	0.37	4.66	1.39	0.54	0.28	0.88	0.25	0.39	0.46	0.37	0.46
Dec 31, 2011	0.52	—	1.13	0.34	0.31	1.13	0.34	0.32	0.47	0.90	0.47
Dec 31, 2010	0.56	—	0.56	0.35	0.21	0.59	0.30	0.33	0.50	0.31	0.14
Dec 31, 2009	0.70	—	0.47	0.43	0.25	0.18	0.29	0.30	0.54	0.27	0.14
Dec 31, 2008	1.55	—	0.50	0.55	0.27	0.31	0.28	0.33	0.30	0.00	0.14
Dec 31, 2007	0.37	—	0.63	0.59	0.41	0.38	0.22	0.32	0.20	0.43	0.15
Dec 31, 2006	0.34	—	0.48	0.74	0.37	0.77	0.17	0.39	0.11	0.92	0.19
Dec 31, 2005	0.60	—	0.19	0.77	0.21	0.10	0.07	0.45	0.27	1.75	0.21

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Eli Lilly & Co., debt to equity, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

	Eli Lilly & Co.	Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2023	2.34	1.01
Dec 31, 2022	1.52	0.83
Dec 31, 2021	1.88	0.95
Dec 31, 2020	2.94	1.15
Dec 31, 2019	5.88	1.11
Dec 31, 2018	1.30	0.94
Dec 31, 2017	1.18	0.88
Dec 31, 2016	0.74	0.79
Dec 31, 2015	0.55	0.68
Dec 31, 2014	0.52	0.55
Dec 31, 2013	0.30	0.52
Dec 31, 2012	0.37	0.51
Dec 31, 2011	0.52	0.46
Dec 31, 2010	0.56	0.39
Dec 31, 2009	0.70	0.39
Dec 31, 2008	1.55	0.37
Dec 31, 2007	0.37	0.30
Dec 31, 2006	0.34	0.25
Dec 31, 2005	0.60	0.29

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Eli Lilly & Co., debt to equity, long-term trends, comparison to industry (health care)

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Eli Lilly & Co. (NYSE:LLY)