ELI LILLY & Co (LLY) Stock Analysis
HealthcarePharmaceutical Preparations
Q2 2026 · +47.7% revenue · +16.0% revenue
Beat the trendvs trailing 3-quarter avg
Revenue▼−3.0 ppvs trend
Net income▼−206.0 ppvs trend
Diluted EPS▼−207.7 ppvs trend
Outperformed in 0 of 3 metrics
How the cash was deployedQ2 2026
Operating cash flow$16.02B
Share buybacks$3.96B (24.7 %)
Dividends paid$3.09B (19.3 %)
Debt repayment$1.62B (10.1 %)
Returned to shareholders this quarter$7.05B▲ +53.8%
Last 8 quarters of revenueLatest quarter highlighted. Q4 reconstructed from the annual filing.
+47.7% +16.0%
11.44BQ3 24
13.53BQ4 24*
12.73BQ1 25
15.56BQ2 25
17.60BQ3 25
19.29BQ4 25*
19.80BQ1 26
22.97BQ2 26
* Q4 is reconstructed from the annual filing (FY − Q1 − Q2 − Q3), since the SEC does not require a Q4 10-Q.
RevenueAccelerating
$22.97B▲+47.7% ▲+16.0%
8.77B
11.30B
11.44B
13.53B
12.73B
15.56B
17.60B
19.29B
19.80B
22.97B
Net incomeReversal
$7.09B▲+25.3% ▼−4.1%
2.24B
2.97B
970.30M
4.41B
2.76B
5.66B
5.58B
6.64B
7.40B
7.09B
Free cash flowNot enough history
—— —
Not enough quarters yet to read the trend.Diluted Reversal
$7.94▲+26.2% ▼−3.9%
2.48
3.28
1.07
4.88
3.06
6.29
6.21
7.39
8.26
7.94
Margins
Gross marginReversal
85.8 %▲+1.5 pp ▲+3.8 pp
80.91
80.80
81.02
82.24
82.53
84.27
82.91
82.52
81.93
85.78
Operating marginNot enough history
—— —
Not enough quarters yet to read the trend.Net marginReversal
30.9 %▼−5.5 pp ▼−6.5 pp
25.58
26.25
8.48
32.59
21.68
36.38
31.72
34.41
37.36
30.88
| Metric | Q2 2025Same quarter, prior year | Q1 2026Previous quarter | Q2 2026Latest quarter | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue | $15.56B | $19.80B | $22.97B | +47.7% | +16.0% |
| Cost of revenue | $2.45B | $3.58B | $3.27B | +33.5% | −8.6% |
| Gross profit | $13.11B | $16.22B | $19.71B | +50.3% | +21.5% |
| Operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $5.66B | $7.40B | $7.09B | +25.3% | −4.1% |
| Diluted | $6.29 | $8.26 | $7.94 | +26.2% | −3.9% |
| Operating cash flow | $4.75B | $5.33B | $16.02B | +237% | +200% |
| — | — | — | — | — | |
| Free cash flow | — | — | — | — | — |
| Gross margin | 84.3 % | 81.9 % | 85.8 % | +1.5 pp | +3.8 pp |
| Operating margin | — | — | — | — | — |
| Net margin | 36.4 % | 37.4 % | 30.9 % | −5.5 pp | −6.5 pp |