ELI LILLY & Co (LLY) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — LLY

Balance Sheet

(in billions USD)

Metric	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	5.28	9.79	3.38	3.09	3.37	3.22	2.46	2.38	2.69	3.55	2.62	2.62	2.46	3.79	3.22	3.00
Short-term Investments	--	0.12	0.17	0.13	0.15	0.14	0.13	0.11	0.13	0.12	0.12	0.11	0.11	0.04	0.05	0.05
Accounts Receivable	18.43	16.11	14.17	12.04	10.29	11.03	7.89	8.17	7.52	7.53	6.72	6.36	6.32	5.91	5.83	5.59
Inventory	14.53	12.18	11.01	9.31	7.46	6.48	6.10	4.90	4.80	4.54	3.83	3.90	3.89	3.91	3.82	3.66
Total Current Assets	54.84	62.07	49.85	41.26	31.42	30.20	25.19	23.01	21.33	20.81	17.64	17.12	16.96	17.81	17.30	16.60
Property, Plant & Equipment	26.54	22.32	20.53	18.47	16.17	14.83	13.62	11.86	11.28	10.55	9.31	9.13	9.10	8.92	8.86	8.63
Goodwill	6.13	5.90	5.77	5.77	5.77	5.77	4.94	4.09	4.08	4.07	3.89	3.89	3.89	3.88	3.88	3.88
Intangible Assets	7.37	6.45	5.91	6.01	6.54	6.64	6.76	6.78	6.90	7.09	7.12	7.50	7.48	7.89	7.99	8.09
Total Non-current Assets*	61.74	52.86	51.07	48.13	44.19	41.67	38.75	34.91	33.48	32.35	29.82	29.95	29.95	30.38	30.51	30.23
Total Assets	116.58	114.94	100.92	89.39	75.61	71.87	63.94	57.92	54.81	53.16	47.46	47.06	46.92	48.19	47.81	46.84
Accounts Payable	5.03	4.26	4.08	3.44	2.89	2.92	2.47	2.44	2.47	2.02	1.68	1.66	1.43	1.57	1.60	1.64
Short-term Debt	4.00	1.63	5.72	4.02	2.07	5.16	1.65	2.24	0.66	0.00	1.74	2.12	1.36	1.56	1.78	0.00
Total Current Liabilities	36.63	40.14	39.02	30.07	24.67	27.12	18.60	22.00	18.92	16.01	15.65	15.62	13.39	13.68	15.09	11.71
Long-term Debt	39.37	40.87	34.18	34.50	29.05	23.73	24.56	17.92	18.16	18.88	14.14	14.69	15.15	15.52	14.74	16.20
Total Non-current Liabilities	48.74	50.94	43.55	43.47	36.61	31.12	32.45	24.61	24.75	25.86	21.64	22.78	24.07	26.55	26.05	28.02
Total Liabilities*	85.38	91.14	82.65	73.62	61.37	58.31	51.13	46.70	43.75	41.97	37.39	38.52	37.59	40.43	41.36	39.94
Retained Earnings	29.51	22.25	17.38	15.10	13.63	13.18	12.55	10.31	10.37	10.64	10.01	8.56	9.37	9.64	8.53	9.18
Total Stockholder Equity	31.20	23.79	18.27	15.76	14.24	13.56	12.81	11.22	11.06	11.19	10.07	8.54	9.33	7.76	6.44	6.90

* Derived from reported values

Income Statement

(in billions USD) (except per-share rows)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Total Revenue	19.80	19.29	17.60	15.56	12.73	13.53	11.44	11.30	8.77	9.35	9.50	8.31	6.96	7.30	6.94	6.49	7.81	8.00	6.77	6.74
Cost of Revenue	3.58	3.37	3.01	2.45	2.22	2.40	2.17	2.17	1.67	1.79	1.86	1.81	1.63	1.55	1.58	1.43	2.07	2.05	1.43	1.95
Gross Profit	16.22	15.92	14.59	13.11	10.50	11.13	9.27	9.13	7.09	7.57	7.64	11.84	5.33	5.75	5.36	5.06	5.74	5.95	5.34	4.79
Research & Development	--	--	--	--	--	--	--	--	--	--	--	2.36	1.99	2.00	1.80	1.78	1.61	1.96	1.71	1.67
Selling, General & Admin	2.93	3.13	2.74	2.75	2.47	2.42	2.10	2.12	1.95	1.92	1.80	1.93	1.75	1.64	1.61	1.63	1.56	1.59	1.58	1.69
Interest Expense	--	--	--	--	--	--	--	--	0.18	0.14	0.12	0.12	0.10	0.08	0.08	0.08	0.08	0.08	0.08	0.09
Pretax Income	8.85	8.27	7.23	6.78	3.46	5.04	1.59	3.52	2.54	2.51	0.43	2.09	1.53	2.10	1.57	1.09	2.05	1.84	1.25	1.59
Tax Provision	1.45	1.63	1.65	1.12	0.70	0.63	0.62	0.55	0.29	0.32	0.48	0.33	0.18	0.16	0.11	0.14	0.15	0.11	0.14	0.20
Net Income	7.40	6.64	5.58	5.66	2.76	4.41	0.97	2.97	2.24	2.19	(0.06)	1.76	1.34	1.94	1.45	0.95	1.90	1.73	1.11	1.39
Basic EPS	8.27	7.41	6.22	6.30	3.07	4.90	1.08	3.29	2.49	2.43	(0.06)	1.96	1.49	2.15	1.61	1.06	2.11	1.91	1.22	1.53
Diluted EPS	8.26	7.39	6.21	6.29	3.06	4.88	1.07	3.28	2.48	2.42	(0.06)	1.95	1.49	2.14	1.61	1.05	2.10	1.88	1.22	1.53

Cash Flow Statement

(in billions USD)

Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021
Operating Cash Flow	5.33	3.22	8.84	3.09	1.67	2.47	3.71	1.47	1.17	(0.31)	2.19	0.63	1.73	1.58	2.18	0.82	2.50	2.16	1.63	1.78
Capital Expenditures	2.33	2.55	2.09	1.70	1.51	1.50	1.35	1.22	0.99	1.07	0.62	0.74	0.67	--	0.62	0.37	0.37	--	0.34	0.38
Free Cash Flow*	3.01	0.68	6.75	1.39	0.16	0.98	2.36	0.24	0.18	(1.38)	1.57	(0.11)	1.06	--	1.57	0.45	2.13	--	1.29	1.39
Investing Cash Flow	(3.92)	(2.80)	(2.98)	(1.83)	(3.35)	(1.92)	(4.00)	(2.20)	(1.18)	(2.92)	(3.08)	(0.46)	(0.69)	(0.86)	(0.92)	(0.46)	(1.01)	(0.38)	(0.62)	(0.48)
Financing Cash Flow	(3.47)	(2.88)	0.53	(1.24)	1.38	(0.23)	0.21	1.56	(0.31)	3.54	0.57	(1.03)	0.41	(1.14)	(1.26)	(0.12)	(2.88)	(1.53)	(0.46)	(1.08)

* Derived from reported values

Dividends Per Share

(USD)

Metric	Q4 2025	Q3 2025	Q2 2025	Q4 2024	Q3 2024	Q2 2024	Q4 2023	Q3 2023	Q2 2023	Q4 2022	Q3 2022	Q2 2022	Q4 2021	Q3 2021	Q2 2021	Q4 2020	Q3 2020	Q2 2020	Q4 2019	Q3 2019
Dividends Per Share	3.23	0.00	3.00	2.80	0.00	2.60	2.43	0.00	2.26	2.11	0.00	1.96	1.83	0.00	1.70	1.59	0.74	0.74	1.39	0.00