LLY
Eli Lilly and Company
LLY has the edge over THC overall, supported by stronger fundamentals and stronger modeled upside.
THC
Tenet Healthcare Corporation
THC offers stronger valuation, 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.
THC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
THC's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
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.
THC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6x | $207 | -28% |
| Current | 8.3x | $287 | — |
| Fair | 11x | $365 | +27% |
| Forward | 14x | $287 | — |
| Expensive | 17x | $590 | +106% |
Historical ranges are pointers, not guarantees.
THC has the edge over LLY in the historical PE scenario, which offers more potential upside but is not a forecast.
LLY Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
LLY has the edge over THC on the outlook, with more favorable valuation and revenue expectations.
THC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Low |
Analysts expect THC's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
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 THC on earnings, with more consistent year-over-year improvement.
THC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $20.30 | -41% |
| Q3 2026 | $34.48 | +129% |
| Q2 2026 | $25.93 | +61% |
| Q1 2026 | $19.23 | +23% |
| Q4 2025 | $15.49 | -53% |
| Q3 2025 | $15.06 | -52% |
| Q2 2025 | $16.09 | -41% |
| Q1 2025 | $15.59 | -40% |
| Q4 2024 | $32.70 | +473% |
THC earned $34.48 per share over the past year, up 129% 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 THC 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 THC on profitability, with a higher operating margin.
THC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.6B | +6.5% |
| Q2 2026 | $5.6B | +6.8% |
| Q1 2026 | $5.4B | +2.8% |
| Q4 2025 | $5.5B | +9% |
| Q3 2025 | $5.3B | +3.3% |
| Q2 2025 | $5.3B | +3.3% |
| Q1 2025 | $5.2B | -2.7% |
| Q4 2024 | $5.1B | -5.7% |
THC's revenue has grown year over year for six quarters in a row: $5.6B last quarter, up 6.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | +14 points |
| Q2 2026 | 27% | +11 points |
| Q1 2026 | 24% | +6.1 points |
| Q4 2025 | 15% | -0.8 points |
| Q3 2025 | 17% | -4.5 points |
| Q2 2025 | 16% | +0.7 points |
| Q1 2025 | 18% | -43 points |
| Q4 2024 | 16% | +2.5 points |
THC's operating margin was 31% last quarter, up 14 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 has the edge over THC on cash flow, with more consistent year-over-year improvement.
THC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +39% |
| Q2 2026 | $417M | -44% |
| Q1 2026 | $1.5B | +128% |
| Q4 2025 | $367M | +$1B |
| Q3 2025 | $778M | -6.2% |
| Q2 2025 | $743M | +23% |
| Q1 2025 | $642M | +86% |
| Q4 2024 | -$661M | -207% |
THC generated $3.3B in free cash flow over the past year, up 122% 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.
THC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -4% | -3.4M shares |
| 1 year | -9% | -8M shares |
| 3 years | -23% | -23.8M shares |
| 5 years | -26% | -28.2M shares |
| Available history | -22% | -22.8M shares |
THC has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $255M |
| Q2 2026 | $1B |
| Q1 2026 | $318M |
| Q4 2025 | $198M |
| Q3 2025 | $93M |
| Q2 2025 | $747M |
| Q1 2025 | $348M |
| Q4 2024 | — |
THC spent $1.8B buying back its own shares over the past year, up 53% from the year before.
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 THC on leverage, with a lower net debt burden relative to earnings.
THC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 2.0x | Moderate |
| Q1 2026 | 2.2x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 2.4x | Moderate |
| Q2 2025 | 2.4x | Moderate |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 1.5x | Healthy |
THC's net debt is about 1.7 years of its operating earnings (EBITDA), down from 2.4 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).
THC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.8 | Overbought |
| Stochastic | 73.5 | Neutral |
THC's weekly RSI is 72 (overbought) and its Stochastic is 73 (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.
THC PE vs Healthcare Sector
| Metric | THC | Sector median | Relative |
|---|---|---|---|
| PE | 8.3x | 26x | 68% below |
| PE % | 32 | 29 | 3 pts above |
THC has the edge over LLY on valuation relative to its sector.
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.
THC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $270.2 | 6.2% above |
| 20 week MA | $256.0 | 12% above |
| 50 week MA | $220.8 | 30% above |
| 100 week MA | $190.8 | 50% above |
| 200 week MA | $144.1 | 99% above |
THC is in an uptrend: it's above all five of its weekly moving averages, and 99% 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.
THC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.3 | $40.1 | +4.9% |
| 2021 | $40.1 | $79.3 | +98% |
| 2022 | $79.3 | $46.6 | -41% |
| 2023 | $46.6 | $75.6 | +62% |
| 2024 | $75.6 | $128.0 | +69% |
| 2025 | $128.0 | $200.6 | +57% |
| 2026 YTD | $200.6 | $286.9 | +43% |
THC has the edge over LLY on returns for 2026, with the stronger performance.