Analysis of Liquidity Ratios
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Eli Lilly & Co., liquidity ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Current ratio | 0.94 | 1.05 | 1.23 | 1.40 | 1.16 | |
| Quick ratio | 0.52 | 0.63 | 0.80 | 0.85 | 0.68 | |
| Cash ratio | 0.11 | 0.13 | 0.26 | 0.29 | 0.21 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Eli Lilly & Co. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Eli Lilly & Co. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Eli Lilly & Co. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Current Ratio
Eli Lilly & Co., current ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 25,727,000) | 18,034,500) | 18,452,400) | 17,462,100) | 13,709,600) | |
| Current liabilities | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | 11,775,200) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 0.94 | 1.05 | 1.23 | 1.40 | 1.16 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.87 | 0.96 | 0.79 | 0.84 | 3.18 | |
| Amgen Inc. | 1.65 | 1.41 | 1.59 | 1.81 | 1.44 | |
| Bristol-Myers Squibb Co. | 1.43 | 1.25 | 1.52 | 1.58 | 1.60 | |
| Danaher Corp. | 1.68 | 1.89 | 1.43 | 1.86 | 5.19 | |
| Gilead Sciences Inc. | 1.43 | 1.29 | 1.27 | 1.40 | 3.10 | |
| Johnson & Johnson | 1.16 | 0.99 | 1.35 | 1.21 | 1.26 | |
| Merck & Co. Inc. | 1.25 | 1.47 | 1.27 | 1.02 | 1.24 | |
| Moderna Inc. | 3.42 | 2.73 | 1.76 | 1.43 | 7.89 | |
| Pfizer Inc. | 0.91 | 1.22 | 1.40 | 1.35 | 0.88 | |
| Regeneron Pharmaceuticals Inc. | 5.69 | 5.06 | 3.56 | 3.63 | 3.67 | |
| Thermo Fisher Scientific Inc. | 1.75 | 1.48 | 1.50 | 2.13 | 1.92 | |
| Current Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 1.26 | 1.29 | 1.35 | 1.35 | 1.66 | |
| Current Ratio, Industry | ||||||
| Health Care | 1.14 | 1.16 | 1.21 | 1.21 | 1.34 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 25,727,000 ÷ 27,293,200 = 0.94
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Eli Lilly & Co. current ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Quick Ratio
Eli Lilly & Co., quick ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 2,818,600) | 2,067,000) | 3,818,500) | 3,657,100) | 2,337,500) | |
| Short-term investments | 109,100) | 144,800) | 90,100) | 24,200) | 101,000) | |
| Accounts receivable, net of allowances | 9,090,500) | 6,896,000) | 6,672,800) | 5,875,300) | 4,547,300) | |
| Other receivables | 2,245,700) | 1,662,900) | 1,454,400) | 1,053,700) | 994,200) | |
| Total quick assets | 14,263,900) | 10,770,700) | 12,035,800) | 10,610,300) | 7,980,000) | |
| Current liabilities | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | 11,775,200) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.52 | 0.63 | 0.80 | 0.85 | 0.68 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.63 | 0.69 | 0.56 | 0.60 | 2.91 | |
| Amgen Inc. | 0.99 | 0.95 | 1.06 | 1.30 | 1.01 | |
| Bristol-Myers Squibb Co. | 1.04 | 0.87 | 1.20 | 1.28 | 1.26 | |
| Danaher Corp. | 1.18 | 1.30 | 0.89 | 1.36 | 4.68 | |
| Gilead Sciences Inc. | 1.06 | 0.99 | 0.95 | 1.08 | 2.86 | |
| Johnson & Johnson | 0.82 | 0.71 | 1.04 | 0.91 | 0.94 | |
| Merck & Co. Inc. | 0.68 | 0.93 | 0.73 | 0.58 | 0.78 | |
| Moderna Inc. | 3.15 | 2.29 | 1.52 | 1.37 | 7.74 | |
| Pfizer Inc. | 0.50 | 0.80 | 1.00 | 0.78 | 0.50 | |
| Regeneron Pharmaceuticals Inc. | 4.82 | 4.16 | 2.98 | 2.86 | 2.81 | |
| Thermo Fisher Scientific Inc. | 1.27 | 1.06 | 1.00 | 1.63 | 1.19 | |
| Quick Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.84 | 0.90 | 0.97 | 0.96 | 1.27 | |
| Quick Ratio, Industry | ||||||
| Health Care | 0.83 | 0.86 | 0.90 | 0.90 | 1.00 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 14,263,900 ÷ 27,293,200 = 0.52
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Eli Lilly & Co. quick ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Cash Ratio
Eli Lilly & Co., cash ratio calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 2,818,600) | 2,067,000) | 3,818,500) | 3,657,100) | 2,337,500) | |
| Short-term investments | 109,100) | 144,800) | 90,100) | 24,200) | 101,000) | |
| Total cash assets | 2,927,700) | 2,211,800) | 3,908,600) | 3,681,300) | 2,438,500) | |
| Current liabilities | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | 11,775,200) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.11 | 0.13 | 0.26 | 0.29 | 0.21 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.34 | 0.31 | 0.28 | 0.30 | 2.56 | |
| Amgen Inc. | 0.60 | 0.59 | 0.66 | 0.91 | 0.69 | |
| Bristol-Myers Squibb Co. | 0.55 | 0.42 | 0.78 | 0.83 | 0.84 | |
| Danaher Corp. | 0.71 | 0.71 | 0.32 | 0.82 | 4.04 | |
| Gilead Sciences Inc. | 0.64 | 0.57 | 0.56 | 0.65 | 2.50 | |
| Johnson & Johnson | 0.50 | 0.42 | 0.70 | 0.59 | 0.54 | |
| Merck & Co. Inc. | 0.28 | 0.54 | 0.34 | 0.30 | 0.47 | |
| Moderna Inc. | 2.85 | 2.01 | 1.18 | 1.05 | 7.71 | |
| Pfizer Inc. | 0.27 | 0.54 | 0.73 | 0.47 | 0.26 | |
| Regeneron Pharmaceuticals Inc. | 3.17 | 2.46 | 1.45 | 1.33 | 1.53 | |
| Thermo Fisher Scientific Inc. | 0.58 | 0.50 | 0.33 | 1.00 | 0.39 | |
| Cash Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | 0.46 | 0.51 | 0.58 | 0.57 | 0.89 | |
| Cash Ratio, Industry | ||||||
| Health Care | 0.44 | 0.48 | 0.52 | 0.53 | 0.64 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 2,927,700 ÷ 27,293,200 = 0.11
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Eli Lilly & Co. cash ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |