Stock Analysis on Net

Eli Lilly & Co. (NYSE:LLY)

Analysis of Profitability Ratios

Microsoft Excel

Profitability Ratios (Summary)

Eli Lilly & Co., profitability ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Return on Sales
Gross profit margin 79.25% 76.77% 74.18% 77.66% 78.85%
Operating profit margin 18.92% 24.97% 22.45% 24.69% 22.29%
Net profit margin 15.36% 21.88% 19.71% 25.24% 37.27%
Return on Investment
Return on equity (ROE) 48.65% 58.64% 62.16% 109.79% 319.09%
Return on assets (ROA) 8.19% 12.62% 11.44% 13.28% 21.17%

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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Eli Lilly & Co. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Eli Lilly & Co. operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Eli Lilly & Co. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Eli Lilly & Co. ROE deteriorated from 2021 to 2022 and from 2022 to 2023.
ROA A profitability ratio calculated as net income divided by total assets. Eli Lilly & Co. ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Gross Profit Margin

Eli Lilly & Co., gross profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Gross margin 27,041,900 21,911,600 21,005,600 19,056,500 17,598,300
Revenue 34,124,100 28,541,400 28,318,400 24,539,800 22,319,500
Profitability Ratio
Gross profit margin1 79.25% 76.77% 74.18% 77.66% 78.85%
Benchmarks
Gross Profit Margin, Competitors2
AbbVie Inc. 62.42% 70.00% 68.96% 66.41% 77.64%
Amgen Inc. 68.60% 74.17% 73.44% 74.59% 80.38%
Bristol-Myers Squibb Co. 76.24% 78.04% 78.57% 72.31% 69.10%
Danaher Corp. 58.74% 60.21% 60.95% 55.98% 55.74%
Gilead Sciences Inc. 75.87% 79.03% 75.56% 81.23% 78.86%
Johnson & Johnson 68.82% 67.26% 68.16% 65.58% 66.42%
Merck & Co. Inc. 73.17% 70.63% 72.02% 67.74% 69.87%
Moderna Inc. 29.65% 70.62% 85.19% 96.03%
Pfizer Inc. 57.34% 65.77% 62.08% 79.26% 80.25%
Regeneron Pharmaceuticals Inc. 86.16% 87.18% 84.83% 86.82% 90.05%
Thermo Fisher Scientific Inc. 39.90% 42.24% 50.08% 49.67% 44.35%

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
Gross profit margin = 100 × Gross margin ÷ Revenue
= 100 × 27,041,900 ÷ 34,124,100 = 79.25%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Eli Lilly & Co. gross profit margin ratio improved from 2021 to 2022 and from 2022 to 2023.

Operating Profit Margin

Eli Lilly & Co., operating profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Operating income 6,457,900 7,127,300 6,357,100 6,058,000 4,974,300
Revenue 34,124,100 28,541,400 28,318,400 24,539,800 22,319,500
Profitability Ratio
Operating profit margin1 18.92% 24.97% 22.45% 24.69% 22.29%
Benchmarks
Operating Profit Margin, Competitors2
AbbVie Inc. 23.49% 31.21% 31.89% 24.81% 39.03%
Amgen Inc. 29.35% 38.57% 31.44% 37.70% 43.57%
Bristol-Myers Squibb Co. 16.18% 17.96% 15.91% -21.60% 22.62%
Danaher Corp. 21.77% 27.61% 25.35% 18.99% 18.25%
Gilead Sciences Inc. 28.24% 27.17% 36.72% 16.72% 19.38%
Johnson & Johnson 24.90% 24.63% 24.95% 23.60% 24.15%
Merck & Co. Inc. 3.92% 30.27% 25.74% 16.47% 24.77%
Moderna Inc. -63.54% 51.10% 75.22% -381.82%
Pfizer Inc. 0.38% 34.83% 23.91% 19.47% 25.46%
Regeneron Pharmaceuticals Inc. 30.85% 38.93% 55.67% 42.09% 28.10%
Thermo Fisher Scientific Inc. 16.00% 18.69% 25.57% 24.19% 17.99%
Operating Profit Margin, Sector
Pharmaceuticals, Biotechnology & Life Sciences 16.26% 28.92% 28.39% 18.09% 25.68%
Operating Profit Margin, Industry
Health Care 9.01% 13.52% 13.78% 10.30% 12.31%

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
Operating profit margin = 100 × Operating income ÷ Revenue
= 100 × 6,457,900 ÷ 34,124,100 = 18.92%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Eli Lilly & Co. operating profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Profit Margin

Eli Lilly & Co., net profit margin calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 5,240,400 6,244,800 5,581,700 6,193,700 8,318,400
Revenue 34,124,100 28,541,400 28,318,400 24,539,800 22,319,500
Profitability Ratio
Net profit margin1 15.36% 21.88% 19.71% 25.24% 37.27%
Benchmarks
Net Profit Margin, Competitors2
AbbVie Inc. 8.95% 20.39% 20.54% 10.08% 23.69%
Amgen Inc. 24.96% 26.42% 24.25% 29.97% 35.32%
Bristol-Myers Squibb Co. 17.83% 13.71% 15.08% -21.20% 13.15%
Danaher Corp. 19.94% 22.91% 21.84% 16.36% 16.80%
Gilead Sciences Inc. 21.03% 17.02% 23.05% 0.51% 24.35%
Johnson & Johnson 41.28% 18.90% 22.26% 17.82% 18.42%
Merck & Co. Inc. 0.61% 24.49% 26.79% 14.72% 21.01%
Moderna Inc. -70.66% 45.36% 69.04% -373.77%
Pfizer Inc. 3.62% 31.27% 27.04% 22.95% 31.45%
Regeneron Pharmaceuticals Inc. 30.14% 35.64% 50.25% 41.35% 26.91%
Thermo Fisher Scientific Inc. 13.99% 15.47% 19.70% 19.79% 14.47%
Net Profit Margin, Sector
Pharmaceuticals, Biotechnology & Life Sciences 16.36% 23.12% 24.90% 13.44% 23.02%
Net Profit Margin, Industry
Health Care 7.65% 10.55% 11.48% 7.64% 10.09%

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
Net profit margin = 100 × Net income ÷ Revenue
= 100 × 5,240,400 ÷ 34,124,100 = 15.36%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Eli Lilly & Co. net profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Return on Equity (ROE)

Eli Lilly & Co., ROE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 5,240,400 6,244,800 5,581,700 6,193,700 8,318,400
Total Eli Lilly and Company shareholders’ equity 10,771,900 10,649,800 8,979,200 5,641,600 2,606,900
Profitability Ratio
ROE1 48.65% 58.64% 62.16% 109.79% 319.09%
Benchmarks
ROE, Competitors2
AbbVie Inc. 46.94% 68.60% 74.91% 35.30%
Amgen Inc. 107.78% 178.97% 87.96% 77.20% 81.07%
Bristol-Myers Squibb Co. 27.27% 20.37% 19.46% -23.84% 6.66%
Danaher Corp. 8.91% 14.39% 14.24% 9.17% 9.94%
Gilead Sciences Inc. 24.81% 21.62% 29.55% 0.68% 23.91%
Johnson & Johnson 51.11% 23.36% 28.20% 23.25% 25.42%
Merck & Co. Inc. 0.97% 31.57% 34.17% 27.91% 37.99%
Moderna Inc. -34.03% 43.73% 86.26% -29.17% -43.75%
Pfizer Inc. 2.38% 32.79% 28.47% 15.21% 25.77%
Regeneron Pharmaceuticals Inc. 15.22% 19.14% 43.03% 31.86% 19.08%
Thermo Fisher Scientific Inc. 12.83% 15.80% 18.94% 18.47% 12.45%
ROE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 18.83% 28.81% 31.93% 16.48% 27.56%
ROE, Industry
Health Care 17.03% 22.88% 24.08% 15.82% 20.90%

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
ROE = 100 × Net income ÷ Total Eli Lilly and Company shareholders’ equity
= 100 × 5,240,400 ÷ 10,771,900 = 48.65%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Eli Lilly & Co. ROE deteriorated from 2021 to 2022 and from 2022 to 2023.

Return on Assets (ROA)

Eli Lilly & Co., ROA calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in thousands)
Net income 5,240,400 6,244,800 5,581,700 6,193,700 8,318,400
Total assets 64,006,300 49,489,800 48,806,000 46,633,100 39,286,100
Profitability Ratio
ROA1 8.19% 12.62% 11.44% 13.28% 21.17%
Benchmarks
ROA, Competitors2
AbbVie Inc. 3.61% 8.53% 7.88% 3.07% 8.84%
Amgen Inc. 6.91% 10.06% 9.63% 11.54% 13.13%
Bristol-Myers Squibb Co. 8.43% 6.53% 6.40% -7.61% 2.65%
Danaher Corp. 5.64% 8.55% 7.73% 4.79% 4.85%
Gilead Sciences Inc. 9.12% 7.27% 9.16% 0.18% 8.74%
Johnson & Johnson 20.98% 9.57% 11.47% 8.41% 9.59%
Merck & Co. Inc. 0.34% 13.30% 12.35% 7.72% 11.66%
Moderna Inc. -25.58% 32.34% 49.46% -10.18% -32.34%
Pfizer Inc. 0.94% 15.91% 12.11% 6.23% 9.72%
Regeneron Pharmaceuticals Inc. 11.95% 14.85% 31.75% 20.47% 14.29%
Thermo Fisher Scientific Inc. 6.07% 7.15% 8.12% 9.23% 6.33%
ROA, Sector
Pharmaceuticals, Biotechnology & Life Sciences 6.57% 11.04% 11.19% 5.14% 8.90%
ROA, Industry
Health Care 6.08% 8.60% 8.69% 5.36% 7.15%

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
ROA = 100 × Net income ÷ Total assets
= 100 × 5,240,400 ÷ 64,006,300 = 8.19%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Eli Lilly & Co. ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.