LLY
Eli Lilly and Company
LLY has the edge over XTNT overall, supported by stronger fundamentals and lower modeled downside.
XTNT
Xtant Medical Holdings, Inc.
XTNT'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.
XTNT Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Under pressure | |
| Strong |
XTNT's balance sheet is currently strong, but its revenue, profitability and cash flow are 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.
XTNT PE Valuation
XTNT 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.
XTNT Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect XTNT's losses to shrink, with revenue growing.
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 XTNT on earnings quality, reporting a profit while its opponent remains loss making.
XTNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.08 | -$0.04 |
| Q1 2026 | $0.01 | +$0.10 |
| Q4 2025 | $0.03 | +$0.15 |
| Q3 2025 | $0.01 | +$0.13 |
| Q2 2025 | -$0.04 | -$0.03 |
| Q1 2025 | -$0.09 | -$0.09 |
| Q4 2024 | -$0.12 | -1300% |
| Q3 2024 | -$0.12 | -700% |
XTNT is still losing money, but far less than before: $0.08 per share over the past year, against $5.15 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 XTNT 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 XTNT on profitability, with a higher operating margin.
XTNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $23M | -35% |
| Q1 2026 | $20.9M | -37% |
| Q4 2025 | $32.4M | +2.7% |
| Q3 2025 | $33.3M | +19% |
| Q2 2025 | $35.4M | +18% |
| Q1 2025 | $32.9M | +18% |
| Q4 2024 | $31.5M | +12% |
| Q3 2024 | $27.9M | +12% |
XTNT's revenue has slid since its 2025 peak: $23M last quarter, down 35% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -40% | -53 points |
| Q1 2026 | -14% | -17 points |
| Q4 2025 | -2.9% | +3 points |
| Q3 2025 | 7.6% | +21 points |
| Q2 2025 | 13% | +23 points |
| Q1 2025 | 3.2% | +16 points |
| Q4 2024 | -6% | +7.6 points |
| Q3 2024 | -14% | 0 points |
XTNT's operating margin was −40% last quarter, down 53 points from the same quarter a year ago, near the bottom 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 has the edge over XTNT on cash generation, producing positive trailing cash flow while its opponent burns cash.
XTNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$7.6M | -930% |
| Q1 2026 | -$2.3M | -2753% |
| Q4 2025 | $5M | +$5M |
| Q3 2025 | $4.2M | +$8M |
| Q2 2025 | $910K | +$6.6M |
| Q1 2025 | $87K | +$6.6M |
| Q4 2024 | -$7K | +$1.3M |
| Q3 2024 | -$3.8M | +$235K |
XTNT has burned cash in most quarters: −$696,000 over the past year, against −$3M 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.
XTNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +200K shares |
| 1 year | -5.6% | -8.3M shares |
| 3 years | +29% | +31.4M shares |
| 5 years | +62% | +53.6M shares |
| Available history | +966% | +127M shares |
XTNT has the edge over LLY on shareholder dilution, with a more favorable share count trend.
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.
XTNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 3.4x | Elevated |
| Q2 2021 | -4.0x | Net Cash |
| Q1 2021 | -0.9x | Net Cash |
| Q4 2020 | 10.9x | High |
| Q3 2020 | 66.6x | High |
XTNT 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).
XTNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 5.3 | Oversold |
XTNT's weekly RSI is 34 (neutral) and its Stochastic is 5 (oversold).
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.
XTNT PE vs Healthcare Sector
| Metric | XTNT | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 26x | — |
XTNT 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 has the edge over XTNT on trend strength, trading above more of its moving averages.
XTNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $0.31 | 9.7% below |
| 20 week MA | $0.35 | 20% below |
| 50 week MA | $0.49 | 43% below |
| 100 week MA | $0.54 | 48% below |
| 200 week MA | $0.69 | 59% below |
XTNT is in a downtrend: it's below all five of its weekly moving averages, and 59% below 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 XTNT on returns for 2026, with the stronger performance.
XTNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.67 | $1.20 | -28% |
| 2021 | $1.20 | $0.66 | -45% |
| 2022 | $0.66 | $0.66 | 0% |
| 2023 | $0.66 | $1.13 | +71% |
| 2024 | $1.13 | $0.46 | -59% |
| 2025 | $0.46 | $0.78 | +70% |
| 2026 YTD | $0.78 | $0.28 | -64% |
XTNT has finished lower in four of the last six years. It's down 64% so far in 2026.