Eli Lilly and Company (LLY)
POSITIVEファンダメンタル
72
株価
$1252.50
時価総額
$1.12T
パート1 · 企業の価値
概要
Eli Lilly discovers, develops and sells prescription medicines, concentrating on diabetes and obesity, oncology, immunology and neuroscience. Its current growth is dominated by tirzepatide, the molecule sold as Mounjaro for diabetes and Zepbound for weight loss, which together now account for more than half of company revenue. Drugs reach patients through wholesalers, pharmacies and, increasingly, direct-to-consumer channels for the weight-loss franchise.
収益の仕組み
Revenue comes almost entirely from selling patented medicines at prices that reflect years of research and clinical-trial spending rather than manufacturing cost. A drug protected by patent can be priced with little direct competition; once patents expire, generic or biosimilar versions typically cut that product's sales sharply within a few years, which is why the pipeline behind today's bestsellers matters as much as the bestsellers themselves.
セグメント別売上高
Tirzepatide sold for type 2 diabetes, the single largest product and the fastest-growing major one in 2025.
The rest of the portfolio across diabetes, oncology, immunology and neuroscience, none individually broken out in the annual results.
The same molecule, tirzepatide, sold for chronic weight management — a newer indication already generating more than a fifth of total revenue.
A breast-cancer treatment and the largest product outside the tirzepatide franchise.
競争優位性（moat）
特許・ライセンス · 広いPatents on approved molecules give Lilly years of protection from direct competition, and the regulatory approval process itself is a barrier few companies can clear. The tirzepatide franchise adds a manufacturing edge too: building the capacity to produce injectable GLP-1 drugs at this scale takes years, which is currently limiting how fast even a well-funded rival like Novo Nordisk can respond.
需要を左右する要因
ディフェンシブMost of the portfolio treats chronic conditions — diabetes, cancer, autoimmune disease — that patients keep treating regardless of the economic cycle. The newer weight-loss business is more exposed to household budgets since much of it is paid out of pocket or with limited insurance coverage, but it still sits on top of an otherwise defensive base.
主なリスク
- Patent expiration and biosimilar competition — The company identifies the loss of intellectual-property protection on key products, and the entry of generic or biosimilar competitors once patents expire, as a risk to future revenue.
- Government and payer pricing pressure — Continued pricing pressure from governmental and private payers, including Medicare drug-price negotiation under U.S. law, affects pricing, reimbursement and patient access to Lilly's medicines.
- Concentration in a few products — The company depends on a relatively small number of products and a consolidated supply chain for a significant share of total revenue, so a manufacturing, safety or competitive setback for any one of them has an outsized effect.
強気材料
Buyers argue that the tirzepatide franchise still has years of volume growth ahead as obesity treatment expands globally, that manufacturing scale-up gives Lilly a lead over Novo Nordisk that is hard to close quickly, and that a broad pipeline beyond GLP-1 drugs reduces the company's dependence on any single therapeutic area.
弱気材料
Sellers fear that more than half of revenue now rests on one molecule facing well-capitalized competition and looming price cuts from Novo Nordisk, that government price negotiation will keep compressing margins on older products, and that a business this concentrated in a handful of drugs is unusually exposed to a single clinical, manufacturing or pricing setback.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
貸借対照表と流動性
売上高
$79.67B
直近12か月（2026/6/30まで）
純利益
$26.71B
直近12か月（2026/6/30まで）
フリーキャッシュフロー
-
自己資本合計
$26.54B
負債合計
$85.94B
流動比率
1.35
利払い倍率
-
負債/EBITDA
1.32
一株当たり利益（EPS）
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$1558.54
現在株価
$1252.50
安全マージン
+19.6%
適正価値レンジ
$1051.34 - $2065.73
推定方法
バリュエーション指標
P/E レシオ
41.84
ROE
77.8%
P/B レシオ
34.65
P/FCF
-
粗利益率
83.4%
ROIC
-
収益性レーダー
Value Creation (Economic Moat)
ROIC
-
WACC
7.7%
ROIC − WACC
-
ファンダメンタル分析基準
合格（16）
- EPS shows upward trend
- Price CAGR 32.81%
- Gross Margin 83.4%
- Debt/Equity ratio
- Current Ratio
- Debt/EBITDA
- Return on Tangible Assets
- ROE 92.6%
- Revenue Growth 5Y 21.6%
- Analyst Consensus 79% Buy
- Earnings Surprise avg 24.8%
- PEG Ratio 1.56
- Earnings Quality (OCF/NI) 1.05
- Share Dilution -0.6%
- Net Margin Trend 33.5% vs 25.9%
- Piotroski F-Score 8/9
不合格（4）
- P/B Ratio 34.65
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Unknown)
データなし（7）
- ROIC NaN%
- P/FCF NaN
- Dividend Payout NaN%
- Operating Margin NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
Piotroski F-スコア
財務健全性が高い
利益の質
高品質：利益はキャッシュに裏付けられている
株式希薄化
株式を買い戻している。株主に友好的
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. David A. Ricks | Chairman, President & CEO | 57 |
| Mr. Lucas E. Montarce | Executive VP & CFO | 48 |
| Dr. Daniel M. Skovronsky M.D., Ph.D. | Chief Scientific & Product Officer and President of Lilly Research Laboratories | 52 |
| Ms. Anat Hakim J.D. | Executive VP, General Counsel & Secretary | 56 |
| Mr. Jacob S. Van Naarden | Executive VP, President of Lilly Oncology & Head of Corporate Business Development | 40 |
| Mr. Donald A. Zakrowski | Senior VP of Finance & Chief Accounting Officer | - |
| Mr. Diogo Rau | Executive VP and Chief Information & Digital Officer | 50 |
| Mr. Michael Czapar | Senior Vice President of Investor Relations | - |
| Mr. Eric Dozier | Executive VP & Chief People Officer | 58 |
| Mr. Ilya Yuffa | Executive VP and President of Lilly USA & Global Customer Capabilities | 50 |
監査リスク
8
取締役会リスク
5
報酬リスク
5
株主権利リスク
9
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容：テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
Latest News
Recent headlines for LLY, sourced from Markets Gazette.
- 13d agoNEGATIVEEli Lilly is suing pharmacies and peptide vendors over early sales of the next big weight-loss drug: retatrutide
Eli Lilly and Company has initiated legal action against pharmacies and peptide vendors accused of prematurely selling compounded versions of its upcoming weight-loss drug, retatrutide. This move aims to protect the integrity of its intellectual property and ensure the drug's eventual regulated release. The lawsuit highlights the intense market anticipation for retatrutide, a drug poised to be a significant player in the lucrative obesity treatment market. For investors, while the legal action may create short-term noise, it underscores Lilly's commitment to safeguarding its pipeline and maximizing the commercial potential of its innovative therapies.
- 14d agoPOSITIVEEli Lilly Surges, Novo Nordisk Slips in Weight-Loss War
Eli Lilly and Company (NYSE:LLY) has reported a significant 48% surge in second-quarter revenue, reaching US$23 billion, driven by its blockbuster GLP-1 weight-loss and diabetes treatments. Sales of Mounjaro and Zepbound combined accounted for nearly 65% of total revenue, with Mounjaro alone seeing a 91% jump. The company has consequently raised its full-year revenue forecast to US$85-87 billion. This strong performance, coupled with a 7% stock increase in early trading, highlights Lilly's robust market position and growth potential in the highly competitive weight-loss drug sector, outperforming rivals like Novo Nordisk.
- 20d agoPOSITIVELilly’s revenue soars 48%, driven by demand for its GLP-1s
Eli Lilly and Company reported a remarkable 48% surge in revenue, significantly exceeding expectations. This growth was primarily fueled by robust demand for its GLP-1 drugs, Mounjaro and Zepbound, which are indicated for Type 2 diabetes and weight loss respectively. The strong performance underscores the increasing market penetration and therapeutic success of Lilly's innovative treatments in high-demand areas. Investors will likely view this as a strong indicator of sustained future earnings growth and market leadership for the pharmaceutical giant.
- 21d agoPOSITIVEEli Lilly Ripe for Stock Split After Obesity Drug-Fueled Rally
Eli Lilly and Company's stock has surged past the $1,000 mark, driven by the sustained success of its weight-loss drugs over the last four years. This significant rally has led to speculation on Wall Street about the possibility of a stock split. A stock split, if enacted, would make the shares more accessible to a broader range of investors by lowering the per-share price, potentially increasing liquidity and demand. This development signals strong underlying business performance and positive future outlook for the pharmaceutical giant.
- 26d agoPOSITIVEInvestors are overlooking healthcare stocks and should consider these top picks, says JPMorgan
JPMorgan analysts highlight healthcare stocks as an overlooked investment opportunity, naming Eli Lilly and Company as a top pick. The bank's analysis suggests that the sector's potential is not fully priced into current valuations. Eli Lilly, a major player in pharmaceuticals with a strong pipeline and recent product successes, is positioned to benefit from this favorable outlook. Investors seeking growth and stability may find healthcare stocks, particularly those with strong fundamentals like Eli Lilly, an attractive addition to their portfolios.
- 26d agoNEUTRALOne of the market’s ‘most durable growth’ sectors has been passed over for AI, says JPMorgan
JPMorgan analysts note that while the market's attention has shifted to Artificial Intelligence, the healthcare sector, particularly pharmaceuticals, remains a 'most durable growth' area. Eli Lilly, AbbVie, and Danaher Corporation are highlighted as top picks within this resilient sector. Despite the broader market's focus on AI, these companies represent established growth opportunities with strong fundamentals. Investors may find these healthcare giants attractive for their stability and long-term growth potential, even if they are currently overshadowed by the AI investment frenzy.
- 7/21/2026NEGATIVENovo Nordisk sues Eli Lilly over ads comparing GLP-1 medications
Novo Nordisk has filed a lawsuit against Eli Lilly, alleging that Lilly's advertisements for its GLP-1 medications fail to include the most current clinical data. This legal action introduces uncertainty and potential reputational risk for Eli Lilly, which could impact investor sentiment and its stock performance. The dispute centers on the accuracy and completeness of comparative drug information, a critical area in the highly competitive pharmaceutical market. Investors will be monitoring the legal proceedings closely for any potential financial or market share implications.
- 7/1/2026POSITIVEEli Lilly just placed a $40 million bet on the next injectable boom
Eli Lilly and Company, a leading GLP-1 maker, has invested $40 million in artificial intelligence to accelerate drug discovery and innovate in consumer medicine. This strategic investment underscores the company's commitment to leveraging cutting-edge technology to enhance its pipeline and market position. The focus on AI in drug discovery could lead to faster development cycles and the identification of novel therapeutic targets, potentially boosting future revenue streams and solidifying its leadership in the pharmaceutical sector. Investors may view this as a positive indicator of future growth and innovation.
via Markets Gazette