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, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Current ratio | 1.15 | 0.94 | 1.05 | 1.23 | 1.40 | |
| Quick ratio | 0.59 | 0.52 | 0.63 | 0.80 | 0.85 | |
| Cash ratio | 0.12 | 0.11 | 0.13 | 0.26 | 0.29 |
Based on: 10-K (reporting date: 2024-12-31), 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).
| 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 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
| 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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Eli Lilly & Co. cash ratio deteriorated from 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Current Ratio
Eli Lilly & Co., current ratio calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Current assets | 32,739,700) | 25,727,000) | 18,034,500) | 18,452,400) | 17,462,100) | |
| Current liabilities | 28,376,600) | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | |
| Liquidity Ratio | ||||||
| Current ratio1 | 1.15 | 0.94 | 1.05 | 1.23 | 1.40 | |
| Benchmarks | ||||||
| Current Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.66 | 0.87 | 0.96 | 0.79 | 0.84 | |
| Amgen Inc. | 1.26 | 1.65 | 1.41 | 1.59 | 1.81 | |
| Bristol-Myers Squibb Co. | — | 1.43 | 1.25 | 1.52 | 1.58 | |
| Danaher Corp. | — | 1.68 | 1.89 | 1.43 | 1.86 | |
| Gilead Sciences Inc. | — | 1.43 | 1.29 | 1.27 | 1.40 | |
| Johnson & Johnson | 1.11 | 1.16 | 0.99 | 1.35 | 1.21 | |
| Merck & Co. Inc. | — | 1.25 | 1.47 | 1.27 | 1.02 | |
| Pfizer Inc. | — | 0.91 | 1.22 | 1.40 | 1.35 | |
| Regeneron Pharmaceuticals Inc. | 4.73 | 5.69 | 5.06 | 3.56 | 3.63 | |
| Thermo Fisher Scientific Inc. | — | 1.75 | 1.48 | 1.50 | 2.13 | |
| Vertex Pharmaceuticals Inc. | — | 3.99 | 4.83 | 4.46 | 4.33 | |
| Current Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | — | 1.27 | 1.30 | 1.36 | 1.37 | |
| Current Ratio, Industry | ||||||
| Health Care | — | 1.13 | 1.15 | 1.21 | 1.20 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 32,739,700 ÷ 28,376,600 = 1.15
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 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level. |
Quick Ratio
Eli Lilly & Co., quick ratio calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 3,268,400) | 2,818,600) | 2,067,000) | 3,818,500) | 3,657,100) | |
| Short-term investments | 154,800) | 109,100) | 144,800) | 90,100) | 24,200) | |
| Accounts receivable, net of allowances | 11,005,700) | 9,090,500) | 6,896,000) | 6,672,800) | 5,875,300) | |
| Other receivables | 2,269,700) | 2,245,700) | 1,662,900) | 1,454,400) | 1,053,700) | |
| Total quick assets | 16,698,600) | 14,263,900) | 10,770,700) | 12,035,800) | 10,610,300) | |
| Current liabilities | 28,376,600) | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | |
| Liquidity Ratio | ||||||
| Quick ratio1 | 0.59 | 0.52 | 0.63 | 0.80 | 0.85 | |
| Benchmarks | ||||||
| Quick Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.43 | 0.63 | 0.69 | 0.56 | 0.60 | |
| Amgen Inc. | 0.81 | 0.99 | 0.95 | 1.06 | 1.30 | |
| Bristol-Myers Squibb Co. | — | 1.04 | 0.87 | 1.20 | 1.28 | |
| Danaher Corp. | — | 1.18 | 1.30 | 0.89 | 1.36 | |
| Gilead Sciences Inc. | — | 1.06 | 0.99 | 0.95 | 1.08 | |
| Johnson & Johnson | 0.78 | 0.82 | 0.71 | 1.04 | 0.91 | |
| Merck & Co. Inc. | — | 0.68 | 0.93 | 0.73 | 0.58 | |
| Pfizer Inc. | — | 0.50 | 0.80 | 1.00 | 0.78 | |
| Regeneron Pharmaceuticals Inc. | 3.86 | 4.82 | 4.16 | 2.98 | 2.86 | |
| Thermo Fisher Scientific Inc. | — | 1.27 | 1.06 | 1.00 | 1.63 | |
| Vertex Pharmaceuticals Inc. | — | 3.60 | 4.46 | 4.04 | 4.02 | |
| Quick Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | — | 0.85 | 0.91 | 0.98 | 0.98 | |
| Quick Ratio, Industry | ||||||
| Health Care | — | 0.82 | 0.86 | 0.89 | 0.89 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 16,698,600 ÷ 28,376,600 = 0.59
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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |
Cash Ratio
Eli Lilly & Co., cash ratio calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Cash and cash equivalents | 3,268,400) | 2,818,600) | 2,067,000) | 3,818,500) | 3,657,100) | |
| Short-term investments | 154,800) | 109,100) | 144,800) | 90,100) | 24,200) | |
| Total cash assets | 3,423,200) | 2,927,700) | 2,211,800) | 3,908,600) | 3,681,300) | |
| Current liabilities | 28,376,600) | 27,293,200) | 17,138,200) | 15,052,700) | 12,481,600) | |
| Liquidity Ratio | ||||||
| Cash ratio1 | 0.12 | 0.11 | 0.13 | 0.26 | 0.29 | |
| Benchmarks | ||||||
| Cash Ratio, Competitors2 | ||||||
| AbbVie Inc. | 0.14 | 0.34 | 0.31 | 0.28 | 0.30 | |
| Amgen Inc. | 0.52 | 0.60 | 0.59 | 0.66 | 0.91 | |
| Bristol-Myers Squibb Co. | — | 0.55 | 0.42 | 0.78 | 0.83 | |
| Danaher Corp. | — | 0.71 | 0.71 | 0.32 | 0.82 | |
| Gilead Sciences Inc. | — | 0.64 | 0.57 | 0.56 | 0.65 | |
| Johnson & Johnson | 0.49 | 0.50 | 0.42 | 0.70 | 0.59 | |
| Merck & Co. Inc. | — | 0.28 | 0.54 | 0.34 | 0.30 | |
| Pfizer Inc. | — | 0.27 | 0.54 | 0.73 | 0.47 | |
| Regeneron Pharmaceuticals Inc. | 2.28 | 3.17 | 2.46 | 1.45 | 1.33 | |
| Thermo Fisher Scientific Inc. | — | 0.58 | 0.50 | 0.33 | 1.00 | |
| Vertex Pharmaceuticals Inc. | — | 3.16 | 3.93 | 3.51 | 3.55 | |
| Cash Ratio, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | — | 0.47 | 0.52 | 0.58 | 0.59 | |
| Cash Ratio, Industry | ||||||
| Health Care | — | 0.42 | 0.47 | 0.50 | 0.51 | |
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 3,423,200 ÷ 28,376,600 = 0.12
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 2022 to 2023 but then improved from 2023 to 2024 not reaching 2022 level. |