LLY
Eli Lilly and Company
LLY has the edge over VREX overall, supported by stronger valuation and stronger fundamentals.
VREX
Varex Imaging Corporation
VREX 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.
VREX Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Stable |
VREX's profitability is currently healthy, and its revenue and balance sheet are stable, but its cash flow 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.
VREX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 18x | $9.16 | -50% |
| Forward | 20x | $18.27 | — |
| Fair | 31x | $16.23 | -11% |
| Current | 35x | $18.27 | — |
| Expensive | 69x | $35.92 | +97% |
Historical ranges are pointers, not guarantees.
VREX 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 VREX on the outlook, with more favorable revenue and profitability expectations.
VREX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect VREX's earnings to grow, with its revenue and 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 VREX on earnings, with more consistent year-over-year improvement.
VREX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.91 | +75% |
| Q2 2026 | $0.52 | +$3.73 |
| Q1 2026 | -$2.00 | -$0.97 |
| Q4 2025 | -$1.64 | -$0.47 |
| Q3 2025 | -$1.70 | -$0.53 |
| Q2 2025 | -$3.21 | -534% |
| Q1 2025 | -$1.03 | -212% |
| Q4 2024 | -$1.17 | -218% |
| Q3 2024 | -$1.17 | -208% |
VREX has returned to profit: it earned $0.52 per share over the past year, after losing money 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 VREX 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 VREX on profitability, with a higher operating margin.
VREX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $210.5M | +3.7% |
| Q1 2026 | $216M | +1.5% |
| Q4 2025 | $209.6M | +4.9% |
| Q3 2025 | $228.9M | +11% |
| Q2 2025 | $203M | -2.9% |
| Q1 2025 | $212.9M | +3.2% |
| Q4 2024 | $199.8M | +5.2% |
| Q3 2024 | $205.7M | -9.5% |
VREX's revenue has grown year over year for four quarters in a row: $211M last quarter, up 3.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 11% | +51 points |
| Q1 2026 | 6.7% | -3.7 points |
| Q4 2025 | 7.3% | +1.7 points |
| Q3 2025 | 8.6% | +3.3 points |
| Q2 2025 | -40% | -44 points |
| Q1 2025 | 10% | +6.7 points |
| Q4 2024 | 5.6% | +3.4 points |
| Q3 2024 | 5.3% | -5.4 points |
VREX's operating margin was 11% last quarter, up 51 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 VREX on cash generation, producing positive trailing cash flow while its opponent burns cash.
VREX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $12M | +757% |
| Q1 2026 | -$7.7M | -179% |
| Q4 2025 | -$26.8M | -606% |
| Q3 2025 | $2.3M | -88% |
| Q2 2025 | $1.4M | -58% |
| Q1 2025 | $9.8M | +$12.5M |
| Q4 2024 | $5.3M | +$5.4M |
| Q3 2024 | $19.9M | -52% |
VREX's free cash flow was −$20M over the past year, against $36M 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 VREX 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.
VREX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.4% | +600K shares |
| 1 year | +2.7% | +1.1M shares |
| 3 years | -15% | -7.8M shares |
| 5 years | +3.1% | +1.3M shares |
| Available history | +10% | +4M shares |
VREX has 43M diluted shares, up 2.7% from a year ago.
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 VREX on leverage, with a lower net debt burden relative to earnings.
VREX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.5x | Moderate |
| Q4 2025 | 75.2x | High |
| Q1 2025 | 4.5x | High |
| Q4 2024 | 5.7x | High |
| Q3 2024 | 4.4x | High |
| Q2 2024 | 3.6x | Elevated |
| Q1 2024 | 3.2x | Elevated |
| Q4 2023 | 3.0x | Moderate |
VREX's net debt is about 2.5 years of its operating earnings (EBITDA), down from 4.3 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).
VREX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 74.5 | Overbought |
| Stochastic | 65.8 | Neutral |
VREX's weekly RSI is 75 (overbought) and its Stochastic is 66 (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.
VREX PE vs Healthcare Sector
| Metric | VREX | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 26x | 36% above |
| PE % | 65 | 29 | 36 pts above |
VREX 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 has the edge over VREX on trend strength, trading above more of its moving averages.
VREX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.4 | 0.8% below |
| 20 week MA | $16.3 | 12% above |
| 50 week MA | $13.5 | 35% above |
| 100 week MA | $12.1 | 51% above |
| 200 week MA | $14.9 | 23% above |
VREX has slipped below its 8-week average, but it's still above the other four, and 23% 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.
VREX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.3 | $16.3 | -46% |
| 2021 | $16.3 | $31.8 | +96% |
| 2022 | $31.8 | $19.8 | -38% |
| 2023 | $19.8 | $20.5 | +3.5% |
| 2024 | $20.5 | $14.8 | -28% |
| 2025 | $14.8 | $11.8 | -20% |
| 2026 YTD | $11.8 | $18.3 | +54% |
VREX has the edge over LLY on returns for 2026, with the stronger performance.