LLY
Eli Lilly and Company
LLY has the edge over VEEV overall, supported by stronger modeled upside and lower modeled downside.
VEEV
Veeva Systems Inc.
VEEV 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.
VEEV Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
VEEV'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'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.
VEEV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 30x | $302 | — |
| Current | 50x | $302 | — |
| Cheap | 53x | $324 | +7.1% |
| Fair | 64x | $389 | +29% |
| Expensive | 115x | $700 | +131% |
Historical ranges are pointers, not guarantees.
VEEV 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 VEEV on the outlook, with more favorable profitability expectations.
VEEV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for VEEV, with profitability holding steady.
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 VEEV on earnings, with stronger typical year-over-year growth.
VEEV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.93 | +63% |
| Q3 2026 | $6.11 | +26% |
| Q2 2026 | $5.64 | +20% |
| Q1 2026 | $5.44 | +26% |
| Q4 2025 | $5.13 | +27% |
| Q3 2025 | $4.86 | +30% |
| Q2 2025 | $4.71 | +39% |
| Q1 2025 | $4.32 | +34% |
| Q4 2024 | $4.05 | +17% |
VEEV's earnings per share have climbed steadily: $6.11 over the past year, up 26% from 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 VEEV 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 VEEV on profitability, with a higher operating margin.
VEEV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $928M | +18% |
| Q2 2026 | $882.9M | +16% |
| Q1 2026 | $836M | +16% |
| Q4 2025 | $811.2M | +16% |
| Q3 2025 | $789.1M | +17% |
| Q2 2025 | $759M | +17% |
| Q1 2025 | $720.9M | +14% |
| Q4 2024 | $699.2M | +13% |
VEEV's revenue has grown year over year every quarter since late 2020: $928M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | +4.8 points |
| Q2 2026 | 31% | +0.1 points |
| Q1 2026 | 29% | +3.3 points |
| Q4 2025 | 30% | +3.8 points |
| Q3 2025 | 25% | +0.2 points |
| Q2 2025 | 31% | +6.9 points |
| Q1 2025 | 26% | +4.7 points |
| Q4 2024 | 26% | +5.1 points |
VEEV's operating margin was 30% last quarter, up 4.8 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 generated $19.7B in free cash flow over the past year, up 112% from the year before.
VEEV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $238.7M | +0.1% |
| Q2 2026 | $1.1B | +28% |
| Q1 2026 | $106.8M | +54% |
| Q4 2025 | $192.8M | +17% |
| Q3 2025 | $238.4M | +157% |
| Q2 2025 | $877.2M | +15% |
| Q1 2025 | $69.5M | +20% |
| Q4 2024 | $164.1M | +99% |
VEEV 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 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.
VEEV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -932K shares |
| 1 year | -1.6% | -2.6M shares |
| 3 years | +1.1% | +1.8M shares |
| 5 years | +1.4% | +2.3M shares |
| Available history | +4% | +6.3M shares |
VEEV has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $245.7M |
| Q2 2026 | $226.9M |
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.
VEEV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2024 | -1.6x | Net Cash |
| Q4 2023 | -1.8x | Net Cash |
| Q3 2023 | -1.8x | Net Cash |
| Q2 2023 | -2.6x | Net Cash |
| Q1 2023 | -1.8x | Net Cash |
| Q4 2022 | -1.7x | Net Cash |
| Q3 2022 | -2.2x | Net Cash |
| Q2 2022 | -2.3x | Net Cash |
VEEV has more cash than debt.
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).
VEEV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 66.5 | Neutral |
| Stochastic | 82.7 | Overbought |
VEEV's weekly RSI is 66 (neutral) and its Stochastic is 83 (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 VEEV on valuation relative to its sector.
VEEV PE vs Healthcare Sector
| Metric | VEEV | Sector median | Relative |
|---|---|---|---|
| PE | 50x | 26x | 91% above |
| PE % | 13 | 29 | 16 pts below |
VEEV is trading at 50x earnings, a 91% 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 |
LLY is in an uptrend: it's above all five of its weekly moving averages, and 79% above its 200-week average.
VEEV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $300.3 | 0.7% above |
| 20 week MA | $258.4 | 17% above |
| 50 week MA | $215.6 | 40% above |
| 100 week MA | $236.1 | 28% above |
| 200 week MA | $216.7 | 40% above |
VEEV is in an uptrend: it's above all five of its weekly moving averages, and 40% 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.
VEEV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $140.7 | $287.6 | +104% |
| 2021 | $287.6 | $260.6 | -9.4% |
| 2022 | $260.6 | $160.8 | -38% |
| 2023 | $160.8 | $192.5 | +20% |
| 2024 | $192.5 | $214.0 | +11% |
| 2025 | $214.0 | $224.7 | +5% |
| 2026 YTD | $224.7 | $302.4 | +35% |
VEEV has the edge over LLY on returns for 2026, with the stronger performance.