LLY
Eli Lilly and Company
LLY has the edge over QDEL overall, supported by lower modeled downside and stronger fundamentals.
QDEL
QuidelOrtho Corporation
QDEL 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.
QDEL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Weak |
QDEL's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
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.
QDEL PE Valuation
QDEL 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 |
LLY has the edge over QDEL on the outlook, with more favorable earnings and revenue expectations.
QDEL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Decline | |
| Improving | |
| Limited | |
| High |
Analysts expect QDEL's profitability to improve, but its revenue to decline.
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 QDEL on earnings quality, reporting a profit while its opponent remains loss making.
QDEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.90 | — |
| Q3 2026 | -$5.44 | +$11.84 |
| Q2 2026 | -$15.44 | -$8.64 |
| Q1 2026 | -$17.85 | -$12.62 |
| Q4 2025 | -$16.69 | +$13.85 |
| Q3 2025 | -$17.28 | +$10.61 |
| Q2 2025 | -$6.80 | +$20.98 |
| Q1 2025 | -$5.23 | +$21.15 |
| Q4 2024 | -$30.54 | -$30.39 |
QDEL is still losing money, but far less than before: $5.44 per share over the past year, against $30.54 at its worst in late 2024.
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 QDEL 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 QDEL on profitability, with a higher operating margin.
QDEL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $618.9M | -12% |
| Q2 2026 | $630.9M | +2.8% |
| Q1 2026 | $619.8M | -11% |
| Q4 2025 | $723.6M | +2.2% |
| Q3 2025 | $699.9M | -3.7% |
| Q2 2025 | $613.9M | -3.6% |
| Q1 2025 | $692.8M | -2.6% |
| Q4 2024 | $707.8M | -4.7% |
QDEL's revenue has slid since its 2022 peak: $619M last quarter, down 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -1.2% | +100 points |
| Q2 2026 | -3.5% | +26 points |
| Q1 2026 | -5.1% | -9.8 points |
| Q4 2025 | -9.2% | +5 points |
| Q3 2025 | -101% | -103 points |
| Q2 2025 | -29% | -11 points |
| Q1 2025 | 4.7% | +252 points |
| Q4 2024 | -14% | -20 points |
QDEL's operating margin was −1.2% last quarter, up 99 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 QDEL on cash generation, producing positive trailing cash flow while its opponent burns cash.
QDEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.4M | +$93.3M |
| Q2 2026 | -$136.1M | -$51.8M |
| Q1 2026 | -$67M | -813% |
| Q4 2025 | $86.6M | +425% |
| Q3 2025 | -$94.7M | -233% |
| Q2 2025 | -$84.3M | +$48.9M |
| Q1 2025 | $9.4M | +$76.2M |
| Q4 2024 | $16.5M | -48% |
QDEL's free cash flow was −$118M over the past year, against −$153M 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 QDEL 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.
QDEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +400K shares |
| 1 year | +1% | +700K shares |
| 3 years | +2.7% | +1.8M shares |
| 5 years | +62% | +26.2M shares |
| Available history | +59% | +25.4M shares |
QDEL has 69M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | $7.2M |
| Q4 2022 | — |
| Q3 2022 | $74.3M |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | $100,000 |
| Q2 2021 | $103.4M |
| Q1 2021 | — |
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 has the edge over QDEL on leverage, with a lower net debt burden relative to earnings.
QDEL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 8.3x | High |
| Q2 2025 | 11.9x | High |
| Q1 2025 | 8.6x | High |
| Q4 2023 | 3.9x | Elevated |
| Q3 2023 | 3.9x | Elevated |
| Q2 2023 | 3.8x | Elevated |
| Q1 2023 | 3.5x | Elevated |
| Q4 2022 | 2.3x | Moderate |
QDEL's net debt is about 8.3 years of its operating earnings (EBITDA), up from 3.9 years a year ago.
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).
QDEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.3 | Neutral |
| Stochastic | 20.9 | Neutral |
QDEL's weekly RSI is 39 (neutral) and its Stochastic is 21 (neutral).
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.
QDEL PE vs Healthcare Sector
| Metric | QDEL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
QDEL 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 QDEL on trend strength, trading above more of its moving averages.
QDEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.0 | 12% below |
| 20 week MA | $13.8 | 23% below |
| 50 week MA | $17.5 | 39% below |
| 100 week MA | $24.8 | 57% below |
| 200 week MA | $43.7 | 76% below |
QDEL is in a downtrend: it's below all five of its weekly moving averages, and 76% 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 QDEL on returns for 2026, with the stronger performance.
QDEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $74.3 | $197.5 | +166% |
| 2021 | $197.5 | $137.4 | -30% |
| 2022 | $137.4 | $84.7 | -38% |
| 2023 | $84.7 | $73.7 | -13% |
| 2024 | $73.7 | $44.3 | -40% |
| 2025 | $44.3 | $29.3 | -34% |
| 2026 YTD | $29.3 | $10.6 | -64% |
QDEL has finished five years in a row lower, and it's down 64% so far in 2026.