LLY
Eli Lilly and Company
LLY has a slight edge over ONC overall, supported by stronger modeled upside and stronger valuation.
ONC
BeOne Medicines Ltd.
ONC offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
ONC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
ONC's revenue, profitability, cash flow and balance sheet are all currently healthy.
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 ONC in the historical PE scenario, which offers more potential upside but is not a forecast.
ONC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 52x | $416 | — |
| Cheap | 62x | $37.70 | -91% |
| Fair | 72x | $43.95 | -89% |
| Expensive | 650x | $396 | -4.8% |
Historical ranges are pointers, not guarantees.
ONC's PE is 52x, but its earnings don't support one, so it isn't a reliable read right now.
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.
ONC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ONC, with profitability improving.
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.
ONC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.61 | +1425% |
| Q2 2026 | $0.44 | +$0.57 |
| Q1 2026 | $0.34 | +$0.62 |
| Q4 2025 | $0.19 | +$0.66 |
| Q3 2025 | $0.04 | +$0.67 |
| Q2 2025 | -$0.13 | +$0.26 |
| Q1 2025 | -$0.28 | +$0.30 |
| Q4 2024 | -$0.47 | +$0.18 |
ONC's earnings per share have climbed steadily: $0.61 over the past year, more than ten times what it earned the year before, and higher year over year for 15 quarters in a row.
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 ONC on sales, with stronger typical year-over-year growth.
| 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 ONC on profitability, with a higher operating margin.
ONC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +34% |
| Q2 2026 | $1.7B | +30% |
| Q1 2026 | $1.5B | +35% |
| Q4 2025 | $1.5B | +33% |
| Q3 2025 | $1.4B | +41% |
| Q2 2025 | $1.3B | +42% |
| Q1 2025 | $1.1B | +49% |
| Q4 2024 | $1.1B | +78% |
ONC's revenue has grown year over year for 18 quarters in a row: $1.9B last quarter, up 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | +11 points |
| Q2 2026 | 19% | +12 points |
| Q1 2026 | 17% | +16 points |
| Q4 2025 | 12% | +19 points |
| Q3 2025 | 12% | +24 points |
| Q2 2025 | 6.7% | +18 points |
| Q1 2025 | 1% | +36 points |
| Q4 2024 | -7% | +54 points |
ONC's operating margin was 22% last quarter, up 11 points from the same quarter a year ago, near the top of its range since 2019.
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.
ONC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $473.5M | +34% |
| Q2 2026 | $435.3M | +98% |
| Q1 2026 | $160.5M | +$172.9M |
| Q4 2025 | $379.8M | +$397.1M |
| Q3 2025 | $354.5M | +548% |
| Q2 2025 | $219.8M | +$425.3M |
| Q1 2025 | -$12.3M | +$452.8M |
| Q4 2024 | -$17.3M | +$361.3M |
ONC has the edge over LLY on cash flow, with more consistent year-over-year improvement.
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 ONC 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.
ONC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +19.6M shares |
| 1 year | +2.4% | +36.2M shares |
| 3 years | +9.7% | +135M shares |
| 5 years | +26% | +319M shares |
| Available history | +52% | +520M shares |
ONC has 1.5B diluted shares, up 2.4% 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.
ONC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.4x | Net Cash |
| Q2 2026 | -3.7x | Net Cash |
| Q1 2026 | -4.4x | Net Cash |
| Q4 2025 | -6.0x | Net Cash |
| Q3 2025 | -9.5x | Net Cash |
| Q2 2025 | -20.2x | Net Cash |
ONC has the edge over LLY on leverage, with a lower net debt burden relative to earnings.
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).
ONC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 70.6 | Overbought |
| Stochastic | 87.7 | Overbought |
ONC's weekly RSI is 71 (overbought) and its Stochastic is 88 (overbought).
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 ONC on valuation relative to its sector.
ONC PE vs Healthcare Sector
| Metric | ONC | Sector median | Relative |
|---|---|---|---|
| PE | 52x | 26x | 103% above |
| PE % | 2 | 29 | 27 pts below |
ONC is trading at 52x earnings, a 103% premium to the Healthcare sector's median of 26x, though its earnings don't support one.
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.
ONC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $376.7 | 10% above |
| 20 week MA | $352.8 | 18% above |
| 50 week MA | $326.9 | 27% above |
| 100 week MA | $298.0 | 40% above |
| 200 week MA | $244.9 | 70% above |
ONC is in an uptrend: it's above all five of its weekly moving averages, and 70% above 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 finished every year since 2020 higher, and it's up 32% so far in 2026.
ONC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $167.2 | $263.7 | +58% |
| 2021 | $263.7 | $268.6 | +1.9% |
| 2022 | $268.6 | $226.1 | -16% |
| 2023 | $226.1 | $180.4 | -20% |
| 2024 | $180.4 | $181.9 | +0.8% |
| 2025 | $181.9 | $312.4 | +72% |
| 2026 YTD | $312.4 | $416.0 | +33% |
ONC has the edge over LLY on returns for 2026, with the stronger performance.