EW
Edwards Lifesciences Corporation
EW's outlook is improving, though it still trails on the overall score.
LLY
Eli Lilly and Company
LLY has the edge over EW overall, supported by stronger valuation and stronger modeled upside.
EW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
EW's revenue, profitability, cash flow and balance sheet are all currently healthy.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
EW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 28x | $48.93 | -54% |
| Forward | 33x | $106 | — |
| Fair | 39x | $69.87 | -34% |
| Expensive | 57x | $102 | -3.9% |
| Current | 60x | $106 | — |
Historical ranges are pointers, not guarantees.
EW's PE is in its expensive range at 60x. If earnings grow as analysts expect, today's price would be 33x next year's earnings, in its cheap range.
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 has the edge over EW in the historical PE scenario, which offers more potential upside but is not a forecast.
EW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect earnings and revenue growth for EW, with profitability improving.
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.
EW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.25 | +84% |
| Q3 2026 | $1.77 | -24% |
| Q2 2026 | $1.74 | -75% |
| Q1 2026 | $1.88 | -73% |
| Q4 2025 | $1.83 | -74% |
| Q3 2025 | $2.32 | -67% |
| Q2 2025 | $6.95 | +186% |
| Q1 2025 | $7.00 | +202% |
| Q4 2024 | $6.97 | +203% |
EW's earnings per share have fallen from their peak: $1.77 over the past year, against $7.00 in early 2025.
LLY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $46.83 | +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 has the edge over EW on earnings, with more consistent year-over-year improvement.
EW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +10% |
| Q2 2026 | $1.7B | +14% |
| Q1 2026 | $1.6B | +17% |
| Q4 2025 | $1.6B | +13% |
| Q3 2025 | $1.6B | +15% |
| Q2 2025 | $1.5B | +11% |
| Q1 2025 | $1.4B | -12% |
| Q4 2024 | $1.4B | -9.7% |
EW's revenue has grown year over year for six quarters in a row: $1.7B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 17% | -2.3 points |
| Q2 2026 | 29% | +2.6 points |
| Q1 2026 | 29% | +1 points |
| Q4 2025 | 9.6% | -13 points |
| Q3 2025 | 20% | -6.1 points |
| Q2 2025 | 27% | +0.2 points |
| Q1 2025 | 28% | +3.7 points |
| Q4 2024 | 23% | -3.5 points |
EW's operating margin was 17% last quarter, down 2.3 points from the same quarter a year ago, near the bottom of its range since 2019.
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 has the edge over EW on sales, with more consistent year-over-year improvement.
| 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 EW on profitability, with a higher operating margin.
EW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $506.7M | -1.8% |
| Q2 2026 | $585M | +143% |
| Q1 2026 | -$21.1M | -109% |
| Q4 2025 | $353.5M | +$530.8M |
| Q3 2025 | $516.2M | +72% |
| Q2 2025 | $240.9M | -16% |
| Q1 2025 | $224.4M | +$343.2M |
| Q4 2024 | -$177.3M | -467% |
EW generated $1.4B in free cash flow over the past year, up 77% from the year before.
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 has the edge over EW on cash flow, with more consistent year-over-year improvement.
EW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -1.4% | -8.1M shares |
| 3 years | -5.2% | -31.9M shares |
| 5 years | -8.6% | -54.1M shares |
| Available history | -9.3% | -59M shares |
EW has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $138.9M |
| Q2 2026 | $153.3M |
| Q1 2026 | $421.8M |
| Q4 2025 | $40.6M |
| Q3 2025 | $588.7M |
| Q2 2025 | $5.5M |
| Q1 2025 | $258.6M |
| Q4 2024 | $100.1M |
EW spent $755M buying back its own shares over the past year, down 21% from the year before.
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 893M diluted shares, down 0.6% from a year ago.
| 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.
EW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.6x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.7x | Net Cash |
| Q3 2025 | -1.3x | Net Cash |
| Q2 2025 | -1.7x | Net Cash |
| Q1 2025 | -1.6x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
EW has the edge over LLY on leverage, with a lower net debt burden relative to earnings.
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.
EW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.7 | Overbought |
| Stochastic | 87.7 | Overbought |
EW's weekly RSI is 72 (overbought) and its Stochastic is 88 (overbought).
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).
EW PE vs Healthcare Sector
| Metric | EW | Sector median | Relative |
|---|---|---|---|
| PE | 60x | 26x | 131% above |
| PE % | 84 | 29 | 55 pts above |
EW is trading at 60x earnings, a 131% premium to the Healthcare sector's median of 26x.
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 EW on valuation relative to its sector.
EW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $91.5 | 16% above |
| 20 week MA | $89.9 | 18% above |
| 50 week MA | $85.9 | 23% above |
| 100 week MA | $80.9 | 31% above |
| 200 week MA | $80.0 | 32% above |
EW is in an uptrend: it's above all five of its weekly moving averages, and 32% 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 is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
EW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $78.2 | $88.6 | +13% |
| 2021 | $88.6 | $128.6 | +45% |
| 2022 | $128.6 | $74.2 | -42% |
| 2023 | $74.2 | $76.3 | +2.8% |
| 2024 | $76.3 | $75.7 | -0.8% |
| 2025 | $75.7 | $86.9 | +15% |
| 2026 YTD | $86.9 | $105.8 | +22% |
EW has finished higher in four of the last six years. It's up 22% 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 EW on returns for 2026, with the stronger performance.