ELI LILLY & Co
LLY · NYSE · CIK 0000059478
SIC 2834
Pharmaceutical Preparations
Category
Chemicals
Entity
operating
Incorp.
IN
Fiscal Y/E
1231
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$967.14
+18.69 (+1.97%)
Open
$949.00
High
$995.00
Low
$943.26
Prev Close
$948.45
Volume
2,418,783
52W High
$1,132.06
52W Low
$620.46
50-day MA
$944.33
Quote as of: 2026-05-11
Market Cap
$880.19B
P/E
35.03
P/B
27.67
PEG
1.40
EPS
28.18
BPS
29.66
Dividend Yield
0.63%
Beta
0.48
ROE
77.78%
ROA
18.35%
Current Ratio
1.58
Net Margin
31.67%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (7 methods)
$190.23B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | $111.01B | +693% |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $1.21T | -27% |
Justified P/E 순이익 × 산업 평균 P/E | $309.60B | +184% |
P/B 배수 자본 × 산업 평균 P/B | $39.80B | +2111% |
P/S 배수 매출 × 산업 평균 P/S | $130.36B | +575% |
DCF (Gordon) CF × (1+g) / (r − g) | $594.06B | +48% |
DDM (Gordon) D × (1+g) / (r − g) | $190.23B | +363% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 7 were applicable. Their median fair-value lands +362.7% below the current market cap → the stock trades above most formulas' estimates (overvalued). 6 methods flag overvalued, 1 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
Overvalued +692.9%√(22.5 × 순이익 × 자본)
Current
$880.19B
Implied fair
$111.01B
Gap (current − fair)
+$769.18B(+692.9%)
NetIncome = $20.64B Equity = $26.54B √(22.5 × $20.64B × $26.54B) = $111.01B
- 최대 PER 15배
- 최대 PBR 1.5배
- 안정적 흑자 기업 가정 (금융·고성장 부정확)
Graham Formula
Undervalued -27.1%순이익 × (8.5 + 2 × 성장률%)
Current
$880.19B
Implied fair
$1.21T
Gap (current − fair)
$-327.25B(-27.1%)
NetIncome = $20.64B Growth g = 94.9% → cap 25.0% Multiple = 8.5 + 2 × 25.0 = 58.5× $20.64B × 58.5 = $1.21T
- EPS 성장률 94.9%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 58.5x
Justified P/E
Overvalued +184.3%순이익 × 산업 평균 P/E
Current
$880.19B
Implied fair
$309.60B
Gap (current − fair)
+$570.59B(+184.3%)
NetIncome = $20.64B Industry P/E = 15× $20.64B × 15 = $309.60B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
Overvalued +2111.4%자본 × 산업 평균 P/B
Current
$880.19B
Implied fair
$39.80B
Gap (current − fair)
+$840.39B(+2111.4%)
Equity = $26.54B Industry P/B = 1.5× $26.54B × 1.5 = $39.80B
- 산업 평균 PBR 1.5x 가정
- 은행·보험·자산집약적 산업에 특히 유효
P/S 배수
Overvalued +575.2%매출 × 산업 평균 P/S
Current
$880.19B
Implied fair
$130.36B
Gap (current − fair)
+$749.84B(+575.2%)
Revenue = $65.18B Industry P/S = 2× $65.18B × 2 = $130.36B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +48.2%CF × (1+g) / (r − g)
Current
$880.19B
Implied fair
$594.06B
Gap (current − fair)
+$286.13B(+48.2%)
FCF = $16.81B Discount r = 4.0% + 5.0% = 9.0% Growth g = 6.0% $16.81B × (1 + 6.0%) / (9.0% − 6.0%) = $594.06B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 6.0% (실질 GDP 수준)
DDM (Gordon)
Overvalued +362.7%D × (1+g) / (r − g)
Current
$880.19B
Implied fair
$190.23B
Gap (current − fair)
+$689.96B(+362.7%)
Dividend D = $5.38B Discount r = 9.0% Growth g = 6.0% $5.38B × (1 + 6.0%) / (9.0% − 6.0%) = $190.23B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 6.0%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +211.0% | +262.8% | +314.7% | +366.5% | +418.3% |
| 2% | +156.6% | +208.0% | +259.3% | +310.6% | +361.9% |
| 3% | +103.3% | +154.1% | +205.0% | +255.8% | +306.6% |
| 4% | +51.0% | +101.4% | +151.7% | +202.0% | +252.4% |
| 5% | -0.3% | +49.6% | +99.4% | +149.3% | +199.2% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +871.2% | +1033.1% | +1194.9% | +1356.8% | +1518.6% |
| 2% | +701.4% | +861.7% | +1021.9% | +1182.2% | +1342.5% |
| 3% | +534.9% | +693.6% | +852.3% | +1011.1% | +1169.8% |
| 4% | +371.6% | +528.8% | +686.0% | +843.2% | +1000.4% |
| 5% | +211.4% | +367.1% | +522.8% | +678.5% | +834.2% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-02-12
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 65,179 | 45,043 | 34,124 | 28,541 | 28,318 |
| Cost of Revenue | 11,052 | 8,418 | 7,082 | 6,630 | 7,313 |
| Net Income | 20,640 | 10,590 | 5,240 | 6,245 | 5,582 |
| EPS (Basic) | 23.00 | 11.76 | 5.82 | 6.93 | 6.15 |
| EPS (Diluted) | 22.95 | 11.71 | 5.80 | 6.90 | 6.12 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 112,476 | 78,715 | 64,006 | 49,490 | 48,806 |
| Current Assets | 55,629 | 32,740 | 25,727 | 18,035 | 18,452 |
| Cash & Equivalents | 7,268 | 3,268 | 2,819 | 2,067 | 3,819 |
| Current Liabilities | 35,228 | 28,377 | 27,293 | 17,138 | 15,053 |
| Long-term Debt | — | 29,474 | 19,105 | 14,815 | 16,741 |
| Total Equity | 26,535 | 14,192 | 10,772 | 10,650 | 8,979 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 16,813 | 8,818 | 4,240 | 7,084 | 7,261 |
| Investing CF | -10,972 | -9,302 | -7,153 | -3,262 | -2,762 |
| Financing CF | -2,213 | 1,230 | 3,496 | -5,407 | -4,131 |
| Dividends Paid | 5,384 | 4,680 | 4,069 | 3,536 | 3,087 |
📄 SEC Filings
Current Report
8-K
2026-05-07
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Quarterly Report
10-Q
2026-04-30
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Current Report
8-K
2026-04-30
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Proxy Statement
DEF 14A
2026-03-20
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Annual Report
10-K
2026-02-12
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Current Report
8-K
2026-02-04
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Current Report
8-K
2025-11-21
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424B2
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3
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3
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144
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SC TO-T/A
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3
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144
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144
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