Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Eli Lilly & Co. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Eli Lilly & Co. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Eli Lilly & Co., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data over the observed quarters reveal multiple noteworthy trends affecting profitability, cost management, and expenditure allocation.
- Cost of Sales and Gross Margin
- Cost of sales as a percentage of revenue fluctuated, peaking near -28% in mid-2021 and again in late 2022, before steadily declining toward approximately -17.5% by the first quarter of 2025. Correspondingly, the gross margin percentage recovered following those peaks, starting around 79% in 2020, dropping to a low near 71% mid-2021, improving to above 82% by early 2025. This trend indicates an overall improvement in production or procurement efficiency over time.
- Research and Development Expenses
- Research and development (R&D) expenses showed variability but generally hovered between -24% and -28% of revenue until early 2023, when there was a modest reduction, stabilizing near -21.5% by early 2025. This suggests a cautious recalibration of R&D spending possibly aimed at optimizing innovation investments relative to revenue.
- Marketing, Selling, and Administrative Costs
- These costs also exhibited fluctuations, with percentages ranging mostly between -18% and -27%. A downward adjustment is visible entering 2023, with expenses declining to levels near -19% and stabilizing there. The decreased ratio indicates enhanced control or efficiency in sales and administrative functions.
- Acquired In-Process Research and Development
- This category displayed significant volatility, with marked spikes in certain quarters, notably an extreme increase to -31.32% during the third quarter of 2023 and similarly high figures in subsequent quarters. These irregular surges highlight episodic, substantial acquisitions or write-downs related to research projects acquired from external sources.
- Asset Impairment, Restructuring, and Other Special Charges
- These special charges were inconsistently reported with occasional negative values indicating charges but also some quarters with positive numbers. The general pattern suggests intermittent impacts from restructuring or impairments, typically remaining under -3% of revenue.
- Operating Income
- Operating income as a percentage of revenue demonstrated fluctuating but generally positive results. It fell below 20% during certain quarters in 2021 and early 2023, dropping as low as 4.74% in the third quarter of 2023 but rebounded strongly by early 2025, reaching over 29%. This indicates periods of operating pressure interspersed with robust recoveries.
- Other Net Income (Expense)
- Other net income or expense presented a mixed picture, shifting between positive and negative contributions with no sustained trend. The values remained relatively small in magnitude relative to revenue, implying limited impact on overall profitability.
- Income Before Income Taxes and Net Income
- Income before taxes tracked fairly closely with operating income but demonstrated somewhat higher volatility. Net income experienced sharp fluctuations including a notable dip into slightly negative territory in the third quarter of 2023. Generally, net income percentages trended upward, culminating near 21.7% by the first quarter of 2025, indicative of improved overall profitability despite intermittent pressures.
- Income Taxes
- Income tax rates as a percentage of revenue varied substantially, moving between approximately -1.4% to -5.4%. Notably, periods with lower income tax rates tended to align with higher net income quarters, suggesting effective tax planning or variable taxable income levels across periods.
In summary, the data suggest an overall improvement in cost efficiency and profitability approaching the most recent periods, despite episodic expenses related to acquisitions and special charges. Operating margins strengthened significantly post-2023, while investments in R&D and selling expenses were moderated relative to revenue. The fluctuations in special charges and acquired in-process research spending indicate strategic shifts or extraordinary events impacting particular quarters. Income tax variations further contributed to net income volatility, but the trend points to enhanced net profitability by early 2025.