LLY
Eli Lilly and Company
LLY has the edge over TMO overall, supported by stronger modeled upside and stronger valuation.
TMO
Thermo Fisher Scientific Inc.
TMO's outlook is improving, though it still trails on the overall score.
LLY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Healthy |
LLY's revenue, profitability, cash flow and balance sheet are all currently healthy.
TMO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Under pressure |
TMO's revenue, profitability and cash flow are currently healthy, but its balance sheet is 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.
TMO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 26x | $699 | — |
| Cheap | 27x | $514 | -27% |
| Fair | 32x | $610 | -13% |
| Expensive | 37x | $708 | +1.2% |
| Current | 37x | $699 | — |
Historical ranges are pointers, not guarantees.
TMO 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 |
Analysts expect strong earnings and revenue growth for LLY, with profitability improving.
TMO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for TMO, 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 TMO on earnings, with stronger typical year-over-year growth.
TMO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $26.95 | +42% |
| Q3 2026 | $18.96 | +9.5% |
| Q2 2026 | $18.59 | +7.5% |
| Q1 2026 | $18.19 | +6.7% |
| Q4 2025 | $17.74 | +7.3% |
| Q3 2025 | $17.31 | +8.5% |
| Q2 2025 | $17.29 | +7.3% |
| Q1 2025 | $17.05 | +9.4% |
| Q4 2024 | $16.53 | +7% |
TMO's earnings per share have climbed steadily: $18.96 over the past year, up 9.5% from the year before, and higher year over year for 11 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 TMO 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 TMO on profitability, with a higher operating margin.
TMO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.1B | +9.1% |
| Q2 2026 | $12B | +10% |
| Q1 2026 | $11B | +6.2% |
| Q4 2025 | $12.2B | +7.2% |
| Q3 2025 | $11.1B | +4.9% |
| Q2 2025 | $10.9B | +3% |
| Q1 2025 | $10.4B | +0.2% |
| Q4 2024 | $11.4B | +4.7% |
TMO's revenue has grown year over year for nine quarters in a row: $12.1B last quarter, up 9.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +1.2 points |
| Q2 2026 | 17% | +0.5 points |
| Q1 2026 | 17% | +0.4 points |
| Q4 2025 | 18% | +0.8 points |
| Q3 2025 | 17% | +0.1 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 17% | +0.5 points |
| Q4 2024 | 18% | +0.7 points |
TMO's operating margin was 19% last quarter, up 1.2 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 TMO on cash flow, with more consistent year-over-year improvement.
TMO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.1B | +15% |
| Q2 2026 | $1.7B | +52% |
| Q1 2026 | $816M | +126% |
| Q4 2025 | $3B | +6.5% |
| Q3 2025 | $1.8B | -3.1% |
| Q2 2025 | $1.1B | -33% |
| Q1 2025 | $361M | -60% |
| Q4 2024 | $2.8B | -15% |
TMO's free cash flow has been positive every quarter for seven years: $7.6B over the past year, up 24% 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.
TMO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -1.9% | -7M shares |
| 3 years | -4.4% | -17M shares |
| 5 years | -6.5% | -26M shares |
| Available history | -7.9% | -32M shares |
TMO has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $1B |
| Q1 2026 | $3B |
| Q4 2025 | $37M |
| Q3 2025 | $963M |
| Q2 2025 | — |
| Q1 2025 | $2B |
| Q4 2024 | $1B |
TMO spent $4B buying back its own shares over the past year, up 1.9% 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 TMO on leverage, with a lower net debt burden relative to earnings.
TMO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.1x | Elevated |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 3.7x | Elevated |
| Q4 2025 | 2.8x | Moderate |
| Q3 2025 | 3.3x | Elevated |
| Q2 2025 | 3.0x | Moderate |
| Q1 2025 | 2.9x | Moderate |
| Q4 2024 | 2.6x | Moderate |
TMO's net debt is about 3.1 years of its operating earnings (EBITDA), down from 3.3 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).
TMO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 70.4 | Overbought |
| Stochastic | 86.6 | Overbought |
TMO's weekly RSI is 70 (overbought) and its Stochastic is 87 (overbought).
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.
TMO PE vs Healthcare Sector
| Metric | TMO | Sector median | Relative |
|---|---|---|---|
| PE | 37x | 26x | 43% above |
| PE % | 79 | 29 | 50 pts above |
TMO 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.
TMO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $680.4 | 2.8% above |
| 20 week MA | $623.9 | 12% above |
| 50 week MA | $560.3 | 25% above |
| 100 week MA | $526.4 | 33% above |
| 200 week MA | $538.4 | 30% above |
TMO has climbed back above all five of its weekly moving averages, and it's now 30% 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 the edge over TMO on returns for 2026, with the stronger performance.
TMO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $326.6 | $458.1 | +40% |
| 2021 | $458.1 | $650.7 | +42% |
| 2022 | $650.7 | $540.7 | -17% |
| 2023 | $540.7 | $530.8 | -1.8% |
| 2024 | $530.8 | $526.1 | -0.9% |
| 2025 | $526.1 | $580.7 | +10% |
| 2026 YTD | $580.7 | $699.4 | +20% |
TMO has finished lower in three of the last six years. It's up 20% so far in 2026.