LLY
Eli Lilly and Company
LLY has the edge over OCUL overall, supported by stronger fundamentals and lower modeled downside.
OCUL
Ocular Therapeutix, Inc.
OCUL trails on the overall score without a compensating advantage in the available component scores.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
OCUL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Unavailable |
OCUL's revenue is currently stable, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
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.
OCUL PE Valuation
OCUL has no meaningful PE right now: it lost money over the past year.
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.
OCUL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Moderate |
Analysts expect OCUL's losses to grow, with revenue growing.
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 has the edge over OCUL on earnings quality, reporting a profit while its opponent remains loss making.
OCUL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.44 | -$0.04 |
| Q2 2026 | -$1.40 | -$0.16 |
| Q1 2026 | -$1.44 | -$0.33 |
| Q4 2025 | -$1.42 | -$0.20 |
| Q3 2025 | -$1.40 | -$0.31 |
| Q2 2025 | -$1.24 | -$0.12 |
| Q1 2025 | -$1.11 | +$0.01 |
| Q4 2024 | -$1.22 | -$0.20 |
OCUL is still losing money, but less than at its worst: $1.44 per share over the past year, against $2.56 at its worst in late 2020.
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 OCUL 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 OCUL on profitability, with a higher operating margin.
OCUL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.9M | -11% |
| Q2 2026 | $13.5M | +0.1% |
| Q1 2026 | $10.8M | +0.8% |
| Q4 2025 | $13.3M | -22% |
| Q3 2025 | $14.5M | -5.7% |
| Q2 2025 | $13.5M | -18% |
| Q1 2025 | $10.7M | -28% |
| Q4 2024 | $17.1M | +15% |
OCUL's revenue has slid since its 2024 peak: $13M last quarter, down 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -760% | -288 points |
| Q2 2026 | -609% | -107 points |
| Q1 2026 | -865% | -268 points |
| Q4 2025 | -526% | -230 points |
| Q3 2025 | -472% | -174 points |
| Q2 2025 | -503% | -237 points |
| Q1 2025 | -597% | -384 points |
| Q4 2024 | -296% | -161 points |
OCUL's operating margin was −760% last quarter, down 288 points from the same quarter a year ago.
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 OCUL on cash generation, producing positive trailing cash flow while its opponent burns cash.
OCUL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$68.7M | -$11.9M |
| Q2 2026 | -$70.6M | -$14.2M |
| Q1 2026 | -$70.7M | -$24.1M |
| Q4 2025 | -$57.1M | -$17.5M |
| Q3 2025 | -$56.7M | -$20.1M |
| Q2 2025 | -$56.5M | -$30.9M |
| Q1 2025 | -$46.6M | -$12.5M |
| Q4 2024 | -$39.6M | -$16.7M |
OCUL has burned cash in almost every quarter: −$267M over the past year, against −$199M 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 the edge over OCUL 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.
OCUL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +563K shares |
| 1 year | +23% | +41.6M shares |
| 3 years | +189% | +147M shares |
| 5 years | +175% | +143M shares |
| Available history | +398% | +180M shares |
OCUL has 226M diluted shares, up 23% from a year ago.
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.
OCUL Net Leverage
OCUL's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
OCUL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.5 | Neutral |
| Stochastic | 10.7 | Oversold |
OCUL's weekly RSI is 36 (neutral) and its Stochastic is 11 (oversold).
LLY PE vs Healthcare Sector
| Metric | LLY | Sector median | Relative |
|---|---|---|---|
| PE | 46x | 26x | 79% above |
| PE % | 48 | 29 | 19 pts above |
LLY is trading at 46x earnings, a 79% premium to the Healthcare sector's median of 26x.
OCUL PE vs Healthcare Sector
OCUL has no meaningful PE right now: it lost money over the past year.
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 OCUL on trend strength, trading above more of its moving averages.
OCUL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $7.17 | 12% below |
| 20 week MA | $8.73 | 28% below |
| 50 week MA | $9.37 | 33% below |
| 100 week MA | $9.49 | 34% below |
| 200 week MA | $7.82 | 20% below |
OCUL is in a downtrend: it's below all five of its weekly moving averages, and 20% below its 200-week average.
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 OCUL on returns for 2026, with the stronger performance.
OCUL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.19 | $22.1 | +427% |
| 2021 | $22.1 | $7.22 | -67% |
| 2022 | $7.22 | $2.67 | -63% |
| 2023 | $2.67 | $4.46 | +67% |
| 2024 | $4.46 | $8.44 | +89% |
| 2025 | $8.44 | $12.6 | +49% |
| 2026 YTD | $12.6 | $6.28 | -50% |
OCUL's yearly returns have swung widely, from +427% in 2020 to −67% in 2021. It's down 50% so far in 2026.