LLY
Eli Lilly and Company
LLY has the edge over XERS overall, supported by lower modeled downside and stronger valuation.
XERS
Xeris Biopharma Holdings, Inc.
XERS'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.
XERS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Strong | |
| Strong |
XERS's revenue, cash flow and balance sheet are currently healthy, and its profitability 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.
XERS PE Valuation
XERS 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.
XERS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for XERS, with profitability improving. 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 XERS on earnings quality, reporting a profit while its opponent remains loss making.
XERS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.34 | — |
| Q3 2026 | -$0.04 | +$0.05 |
| Q2 2026 | -$0.10 | +$0.10 |
| Q1 2026 | $0.07 | +$0.36 |
| Q4 2025 | $0.00 | +$0.37 |
| Q3 2025 | -$0.09 | +$0.36 |
| Q2 2025 | -$0.20 | +$0.23 |
| Q1 2025 | -$0.29 | +$0.18 |
| Q4 2024 | -$0.37 | +$0.08 |
XERS is still losing money, but far less than before: $0.04 per share over the past year, against $4.80 at its worst in late 2019.
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 XERS 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 XERS on profitability, with a higher operating margin.
XERS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $107.2M | +44% |
| Q2 2026 | $92.1M | +29% |
| Q1 2026 | $83.1M | +38% |
| Q4 2025 | $85.8M | +43% |
| Q3 2025 | $74.4M | +37% |
| Q2 2025 | $71.5M | +49% |
| Q1 2025 | $60.1M | +48% |
| Q4 2024 | $60.1M | +35% |
XERS's revenue has grown year over year every quarter since late 2020: $107M last quarter, up 44% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +6.7 points |
| Q2 2026 | 5.6% | -0.6 points |
| Q1 2026 | 9.5% | +15 points |
| Q4 2025 | 20% | +17 points |
| Q3 2025 | 9.1% | +33 points |
| Q2 2025 | 6.3% | +23 points |
| Q1 2025 | -5.1% | +30 points |
| Q4 2024 | 2.8% | +25 points |
XERS's operating margin was 16% last quarter, up 6.7 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 generated $19.7B in free cash flow over the past year, up 112% from the year before.
XERS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $35.5M | +92% |
| Q2 2026 | $8.3M | +4440% |
| Q1 2026 | $9.9M | +$19.9M |
| Q4 2025 | $20M | +915% |
| Q3 2025 | $18.4M | +$26.7M |
| Q2 2025 | $182K | +$10.5M |
| Q1 2025 | -$10M | +$10.3M |
| Q4 2024 | $2M | -74% |
XERS 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 the edge over XERS 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.
XERS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +9.9% | +17.1M shares |
| 1 year | +6.9% | +12.3M shares |
| 3 years | +38% | +51.9M shares |
| 5 years | +186% | +124M shares |
| Available history | +603% | +163M shares |
XERS has 190M diluted shares, up 6.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q1 2021 | $365,000 |
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $63,000 |
| Q4 2019 | — |
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.
XERS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.2x | Healthy |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 2.9x | Moderate |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 11.5x | High |
XERS's net debt is about 1.2 years of its operating earnings (EBITDA), down from 12 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).
XERS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 85.9 | Overbought |
| Stochastic | 93.8 | Overbought |
XERS's weekly RSI is 86 (overbought) and its Stochastic is 94 (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.
XERS PE vs Healthcare Sector
| Metric | XERS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
XERS 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.
XERS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $11.5 | 45% above |
| 20 week MA | $9.57 | 74% above |
| 50 week MA | $7.79 | 114% above |
| 100 week MA | $6.68 | 149% above |
| 200 week MA | $4.49 | 271% above |
XERS is in an uptrend: it's above all five of its weekly moving averages, and 271% 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.
XERS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.45 | $5.45 | -27% |
| 2021 | $5.45 | $2.59 | -52% |
| 2022 | $2.59 | $1.26 | -51% |
| 2023 | $1.26 | $2.35 | +87% |
| 2024 | $2.35 | $3.43 | +46% |
| 2025 | $3.43 | $7.37 | +115% |
| 2026 YTD | $7.37 | $16.7 | +126% |
XERS has the edge over LLY on returns for 2026, with the stronger performance.