LLY
Eli Lilly and Company
LLY has the edge over SOLV overall, supported by lower modeled downside and stronger modeled upside.
SOLV
Solventum Corporation
SOLV's outlook is improving despite an expensive valuation.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
SOLV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Weak |
SOLV'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 has the edge over SOLV in the historical PE scenario, which offers more potential upside but is not a forecast.
SOLV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.1x | $8.21 | -91% |
| Fair | 11x | $10.05 | -89% |
| Forward | 12x | $88.81 | — |
| Expensive | 33x | $29.75 | -67% |
| Current | 99x | $88.81 | — |
Historical ranges are pointers, not guarantees.
SOLV's PE is in its expensive range at 99x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its fair range.
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.
SOLV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for SOLV, 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 has the edge over SOLV on earnings, with more consistent year-over-year improvement.
SOLV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.42 | +725% |
| Q3 2026 | $0.90 | -90% |
| Q2 2026 | $8.19 | +277% |
| Q1 2026 | $8.17 | +276% |
| Q4 2025 | $8.88 | +222% |
| Q3 2025 | $8.69 | +109% |
| Q2 2025 | $2.17 | -65% |
| Q1 2025 | $2.17 | -71% |
| Q4 2024 | $2.76 | -65% |
SOLV earned $0.90 per share over the past year, down 90% from the year before.
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 SOLV 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 SOLV on profitability, with a higher operating margin.
SOLV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.9B | -7% |
| Q2 2026 | $2.2B | +2.2% |
| Q1 2026 | $2B | -3% |
| Q4 2025 | $2B | -3.7% |
| Q3 2025 | $2.1B | +0.7% |
| Q2 2025 | $2.2B | +3.8% |
| Q1 2025 | $2.1B | +2.7% |
| Q4 2024 | $2.1B | +1.9% |
SOLV's revenue has held roughly level: $1.9B last quarter, down 7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | -77 points |
| Q2 2026 | 8.2% | -1.7 points |
| Q1 2026 | 4% | -3.3 points |
| Q4 2025 | 6.2% | -0.3 points |
| Q3 2025 | 81% | +67 points |
| Q2 2025 | 9.9% | -1.8 points |
| Q1 2025 | 7.3% | -12 points |
| Q4 2024 | 6.5% | -13 points |
SOLV's operating margin was 3.5% last quarter, down 77 points from the same quarter a year ago, near the bottom of its range since 2022.
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 SOLV on cash flow, with more consistent year-over-year improvement.
SOLV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $97M | +$118M |
| Q2 2026 | $144M | +144% |
| Q1 2026 | -$273M | -$193M |
| Q4 2025 | $32M | -65% |
| Q3 2025 | -$21M | -128% |
| Q2 2025 | $59M | -80% |
| Q1 2025 | -$80M | -124% |
| Q4 2024 | $92M | -80% |
SOLV's free cash flow was $0 over the past year, against $50M 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.
SOLV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -2.5M shares |
| 1 year | -2.6% | -4.6M shares |
| 3 years | -1.1% | -1.9M shares |
SOLV has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $48M |
| Q2 2026 | $288M |
| Q1 2026 | $67M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
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 SOLV on leverage, with a lower net debt burden relative to earnings.
SOLV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.7x | High |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 1.7x | Healthy |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 5.6x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 4.6x | High |
SOLV's net debt is about 4.7 years of its operating earnings (EBITDA), up from 1.3 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).
SOLV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.0 | Neutral |
| Stochastic | 49.5 | Neutral |
SOLV's weekly RSI is 57 (neutral) and its Stochastic is 50 (neutral).
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 SOLV on valuation relative to its sector.
SOLV PE vs Healthcare Sector
| Metric | SOLV | Sector median | Relative |
|---|---|---|---|
| PE | 99x | 26x | 282% above |
| PE % | 99 | 47 | 52 pts above |
SOLV is trading at 99x earnings, a 282% premium to the Healthcare sector's median of 26x.
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 |
SOLV has stronger trend alignment. LLY is above 5 of 5 weekly averages versus SOLV above 4 of 4.
SOLV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $87.1 | 2% above |
| 20 week MA | $85.8 | 3.5% above |
| 50 week MA | $79.2 | 12% above |
| 100 week MA | $76.0 | 17% above |
SOLV is in an uptrend: it's above all four of its weekly moving averages, and 17% above its 100-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 SOLV on returns for 2026, with the stronger performance.
SOLV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $69.6 | $66.7 | -4% |
| 2025 | $66.7 | $80.5 | +21% |
| 2026 YTD | $80.5 | $88.8 | +10% |
SOLV has finished lower in one of the last two years. It's up 10% so far in 2026.