LLY
Eli Lilly and Company
LLY has the edge over VTRS overall, supported by stronger modeled upside and stronger valuation.
VTRS
Viatris Inc.
VTRS'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.
VTRS Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Strong | |
| Weak |
VTRS's cash flow is currently strong, and its revenue and profitability are stable, but its balance sheet is weak.
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.
VTRS PE Valuation
VTRS has no meaningful PE right now: it lost money over the past year.
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.
VTRS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for VTRS, 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 VTRS on earnings quality, reporting a profit while its opponent remains loss making.
VTRS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.65 | — |
| Q3 2026 | -$0.57 | +$2.52 |
| Q2 2026 | -$0.40 | +$2.50 |
| Q1 2026 | -$0.30 | +$2.87 |
| Q4 2025 | -$3.00 | -$2.47 |
| Q3 2025 | -$3.09 | -$2.36 |
| Q2 2025 | -$2.90 | -$2.36 |
| Q1 2025 | -$3.17 | -$3.12 |
| Q4 2024 | -$0.53 | -1160% |
VTRS is still losing money, but far less than before: $0.57 per share over the past year, against $3.17 at its worst in early 2025.
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 VTRS 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 VTRS on profitability, with a higher operating margin.
VTRS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | -0.3% |
| Q2 2026 | $3.8B | +4.9% |
| Q1 2026 | $3.5B | +8.1% |
| Q4 2025 | $3.7B | +5% |
| Q3 2025 | $3.8B | +0.2% |
| Q2 2025 | $3.6B | -5.6% |
| Q1 2025 | $3.3B | -11% |
| Q4 2024 | $3.5B | -8.1% |
VTRS's revenue is growing: $3.7B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7% | +2.2 points |
| Q2 2026 | 0.2% | -6.3 points |
| Q1 2026 | -2.3% | +86 points |
| Q4 2025 | -5.2% | -0.1 points |
| Q3 2025 | 4.8% | -1.3 points |
| Q2 2025 | 6.5% | +13 points |
| Q1 2025 | -89% | -94 points |
| Q4 2024 | -5.1% | +6.7 points |
VTRS's operating margin was 7% last quarter, up 2.2 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 VTRS on cash flow, with more consistent year-over-year improvement.
VTRS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $813.7M | +24% |
| Q2 2026 | $329M | +97% |
| Q1 2026 | $348.4M | -29% |
| Q4 2025 | $619.3M | +81% |
| Q3 2025 | $658.1M | -12% |
| Q2 2025 | $166.8M | -48% |
| Q1 2025 | $492.9M | -13% |
| Q4 2024 | $342.3M | +9% |
VTRS generated $2.1B in free cash flow over the past year, up 27% 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.
VTRS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -14.7M shares |
| 1 year | -1.4% | -16M shares |
| 3 years | -4.3% | -51.1M shares |
| 5 years | -5.3% | -64M shares |
VTRS has the edge over LLY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $150M |
| Q2 2026 | $150M |
| Q1 2026 | — |
| Q4 2025 | $85.1M |
| Q3 2025 | $67.9M |
| Q2 2025 | $175M |
| Q1 2025 | $175.4M |
| Q4 2024 | — |
VTRS spent $385M buying back its own shares over the past year, down 7.9% 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 VTRS on leverage, with a lower net debt burden relative to earnings.
VTRS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.1x | High |
| Q2 2026 | 4.6x | High |
| Q1 2026 | 4.3x | High |
| Q4 2025 | 96.8x | High |
| Q3 2025 | 105.5x | High |
| Q2 2025 | 89.2x | High |
| Q4 2024 | 4.6x | High |
| Q3 2024 | 5.5x | High |
VTRS's net debt is about 4.1 years of its operating earnings (EBITDA), down from more than 20 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).
VTRS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.1 | Overbought |
| Stochastic | 92.0 | Overbought |
VTRS's weekly RSI is 73 (overbought) and its Stochastic is 92 (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.
VTRS PE vs Healthcare Sector
| Metric | VTRS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
VTRS has no meaningful PE right now: it lost money over the past year.
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.
VTRS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.7 | 11% above |
| 20 week MA | $17.5 | 18% above |
| 50 week MA | $15.6 | 33% above |
| 100 week MA | $12.7 | 63% above |
| 200 week MA | $11.8 | 75% above |
VTRS is in an uptrend: it's above all five of its weekly moving averages, and 75% 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.
VTRS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $19.7 | $17.8 | -9.9% |
| 2021 | $17.8 | $13.6 | -23% |
| 2022 | $13.6 | $11.0 | -19% |
| 2023 | $11.0 | $10.8 | -1.6% |
| 2024 | $10.8 | $12.5 | +15% |
| 2025 | $12.5 | $12.3 | -1.3% |
| 2026 YTD | $12.3 | $20.7 | +68% |
VTRS has the edge over LLY on returns for 2026, with the stronger performance.