ARQT
Arcutis Biotherapeutics, Inc.
ARQT's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over ARQT overall, supported by stronger modeled upside and lower modeled downside.
ARQT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Weak |
ARQT's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
ARQT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 41x | $27.53 | — |
| Cheap | 110x | $24.27 | -12% |
| Fair | 116x | $25.54 | -7.2% |
| Current | 125x | $27.53 | — |
| Expensive | 129x | $28.33 | +2.9% |
Historical ranges are pointers, not guarantees.
ARQT has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 27x | $845 | -41% |
| Forward | 30x | $1,427 | — |
| Current | 46x | $1,427 | — |
| Fair | 48x | $1,466 | +2.7% |
| Expensive | 85x | $2,612 | +83% |
Historical ranges are pointers, not guarantees.
LLY's PE is in its fair range at 46x. If earnings grow as analysts expect, today's price would be 30x next year's earnings, in its cheap range.
ARQT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for ARQT, with profitability improving. However, they disagree widely on these estimates.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LLY, with profitability improving.
ARQT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.67 | +206% |
| Q3 2026 | $0.22 | +$0.58 |
| Q2 2026 | $0.22 | +$0.97 |
| Q1 2026 | -$0.02 | +$1.02 |
| Q4 2025 | -$0.13 | +$1.03 |
| Q3 2025 | -$0.36 | +$1.29 |
| Q2 2025 | -$0.75 | +$1.30 |
| Q1 2025 | -$1.04 | +$1.75 |
| Q4 2024 | -$1.16 | +$2.62 |
ARQT has returned to profit: it earned $0.22 per share over the past year, after losing money the year before.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.82 | +52% |
| Q3 2026 | $30.81 | +51% |
| Q2 2026 | $29.80 | +95% |
| Q1 2026 | $28.15 | +129% |
| Q4 2025 | $22.95 | +96% |
| Q3 2025 | $20.44 | +121% |
| Q2 2025 | $15.30 | +88% |
| Q1 2025 | $12.29 | +81% |
| Q4 2024 | $11.71 | +102% |
LLY's earnings per share have climbed steadily: $30.81 over the past year, up 51% from the year before, and higher year over year for 11 quarters in a row.
ARQT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $143.9M | +45% |
| Q2 2026 | $129.9M | +59% |
| Q1 2026 | $105.4M | +60% |
| Q4 2025 | $129.5M | +81% |
| Q3 2025 | $99.2M | +122% |
| Q2 2025 | $81.5M | +164% |
| Q1 2025 | $65.8M | +33% |
| Q4 2024 | $71.4M | +428% |
ARQT has the edge over LLY on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.6% | -2 points |
| Q2 2026 | 13% | +31 points |
| Q1 2026 | -8.6% | +29 points |
| Q4 2025 | 14% | +25 points |
| Q3 2025 | 8.6% | +96 points |
| Q2 2025 | -18% | +144 points |
| Q1 2025 | -37% | +27 points |
| Q4 2024 | -11% | +442 points |
ARQT's operating margin was 6.6% last quarter, down 2 points from the same quarter a year ago.
LLY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.4B | +39% |
| Q2 2026 | $23B | +48% |
| Q1 2026 | $19.8B | +56% |
| Q4 2025 | $19.3B | +43% |
| Q3 2025 | $17.6B | +54% |
| Q2 2025 | $15.6B | +38% |
| Q1 2025 | $12.7B | +45% |
| Q4 2024 | $13.5B | +45% |
LLY's revenue has grown year over year for 14 quarters in a row: $24.4B last quarter, up 39% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 34% | -6.6 points |
| Q2 2026 | 40% | -3.3 points |
| Q1 2026 | 45% | +18 points |
| Q4 2025 | 43% | +5.6 points |
| Q3 2025 | 41% | +27 points |
| Q2 2025 | 44% | +12 points |
| Q1 2025 | 27% | -1.8 points |
| Q4 2024 | 37% | +10 points |
LLY has the edge over ARQT on profitability, with a higher operating margin.
ARQT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $18.8M | +$20.6M |
| Q2 2026 | $12.5M | +4974% |
| Q1 2026 | $2.2M | +$33.2M |
| Q4 2025 | $26.2M | +$26.9M |
| Q3 2025 | -$1.8M | +$33.1M |
| Q2 2025 | $246K | +$45.4M |
| Q1 2025 | -$31M | +$615K |
| Q4 2024 | -$748K | +$55.5M |
ARQT has the edge over LLY on cash flow, with more consistent year-over-year improvement.
LLY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +22% |
| Q2 2026 | $7.8B | +458% |
| Q1 2026 | $3B | +1826% |
| Q4 2025 | $677.9M | -31% |
| Q3 2025 | $6.7B | +186% |
| Q2 2025 | $1.4B | +476% |
| Q1 2025 | $156.1M | -13% |
| Q4 2024 | $977.8M | +$2.4B |
LLY generated $19.7B in free cash flow over the past year, up 112% from the year before.
ARQT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.7% | +938K shares |
| 1 year | +7.7% | +9.8M shares |
| 3 years | +124% | +75.7M shares |
| 5 years | +189% | +89.6M shares |
| Available history | +259% | +98.7M shares |
ARQT has 137M diluted shares, up 7.7% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
LLY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -300K shares |
| 1 year | -0.6% | -5.4M shares |
| 3 years | -0.7% | -6.4M shares |
| 5 years | -1.9% | -17.4M shares |
| Available history | -4.5% | -42.3M shares |
LLY has the edge over ARQT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $377M |
| Q2 2026 | $1.6B |
| Q1 2026 | $2.4B |
| Q4 2025 | $1.5B |
| Q3 2025 | $708.1M |
| Q2 2025 | $692.2M |
| Q1 2025 | $1.2B |
| Q4 2024 | $2.1B |
LLY spent $5.8B buying back its own shares over the past year, up 26% from the year before.
ARQT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2024 | 12.5x | High |
| Q1 2024 | 0.1x | Very low |
| Q4 2023 | 0.8x | Very low |
| Q3 2023 | 0.7x | Very low |
ARQT's net debt is about 13 years of its operating earnings (EBITDA).
LLY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.3x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 2.1x | Moderate |
LLY's net debt is about 1.2 years of its operating earnings (EBITDA), about the same as a year ago.
ARQT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.0 | Neutral |
| Stochastic | 48.9 | Neutral |
ARQT's weekly RSI is 53 (neutral) and its Stochastic is 49 (neutral).
LLY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.3 | Neutral |
| Stochastic | 84.1 | Overbought |
LLY's weekly RSI is 68 (neutral) and its Stochastic is 84 (overbought).
ARQT PE vs Healthcare Sector
| Metric | ARQT | Sector median | Relative |
|---|---|---|---|
| PE | 125x | 26x | 384% above |
ARQT is trading at 125x earnings, a 384% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY has the edge over ARQT on valuation relative to its sector.
ARQT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $28.0 | 1.6% below |
| 20 week MA | $26.7 | 3.2% above |
| 50 week MA | $25.7 | 7.2% above |
| 100 week MA | $21.0 | 31% above |
| 200 week MA | $15.0 | 84% above |
ARQT's trend is up, with a small recent dip: it's below only its 8-week average, and 84% above its 200-week average.
LLY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,279.4 | 12% above |
| 20 week MA | $1,218.8 | 17% above |
| 50 week MA | $1,102.2 | 29% above |
| 100 week MA | $954.1 | 50% above |
| 200 week MA | $797.5 | 79% above |
LLY has the edge over ARQT on trend strength, trading above more of its moving averages.
ARQT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.8 | $29.6 | +36% |
| 2021 | $29.6 | $20.1 | -32% |
| 2022 | $20.1 | $14.3 | -29% |
| 2023 | $14.3 | $3.23 | -77% |
| 2024 | $3.23 | $14.3 | +343% |
| 2025 | $14.3 | $29.0 | +103% |
| 2026 YTD | $29.0 | $27.5 | -5% |
ARQT's yearly returns have swung widely, from +343% in 2024 to −77% in 2023. It's down 5% so far in 2026.
LLY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $131.5 | $166.7 | +27% |
| 2021 | $166.7 | $273.1 | +64% |
| 2022 | $273.1 | $367.9 | +35% |
| 2023 | $367.9 | $582.9 | +58% |
| 2024 | $582.9 | $783.2 | +34% |
| 2025 | $783.2 | $1,077.8 | +38% |
| 2026 YTD | $1,077.8 | $1,427.3 | +32% |
LLY has the edge over ARQT on returns for 2026, with the stronger performance.