Price to Earnings (P/E)
since 2005
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Eli Lilly & Co. pages available for free this week:
- Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Calculation
Eli Lilly & Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income (loss)1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 19, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Eli Lilly & Co. Annual Report.
The price-to-earnings (P/E) ratio, calculated from share price and earnings per share, exhibits considerable fluctuation over the observed period. Initial values indicate a relatively high valuation, followed by a period of decline and subsequent volatility before a significant increase in recent years.
- Early Period (2006-2009)
- From 2006 to 2008, the P/E ratio decreased from 31.90 to 19.26, suggesting a declining premium investors were willing to pay for each dollar of earnings. A value for 2009 is absent, likely due to negative earnings per share during that year. The absence of a P/E ratio when earnings are negative is standard practice.
- Recovery and Moderate Valuation (2010-2013)
- The P/E ratio recovered to 9.18 in 2010, reflecting improved earnings. It then experienced moderate fluctuations, ranging from 7.86 to 14.99 between 2011 and 2013. This period suggests a stabilization in valuation as earnings recovered.
- Volatility and Increasing Valuation (2014-2017)
- A substantial increase to 33.06 occurred in 2014, followed by a similar value in 2015. A value for 2016 is absent, likely due to negative earnings per share during that year. The P/E ratio then decreased in 2017, but remained elevated compared to the earlier period. This indicates increased investor optimism or potentially speculative behavior.
- Recent Surge (2018-2025)
- From 2018 through 2025, the P/E ratio demonstrates a significant upward trend, culminating in a value of 47.45. The ratio peaked at 135.24 in 2023, representing a substantial increase in investor valuation. This surge correlates with a substantial increase in both share price and earnings per share, particularly in 2023 and 2024. The recent decline from the 2023 peak suggests a potential correction or a shift in investor sentiment.
Overall, the P/E ratio has experienced a dramatic increase in recent years, indicating a substantial shift in market perception of the company’s future earnings potential. The earlier period showed a more moderate and fluctuating valuation, while the latter period is characterized by a pronounced upward trajectory and recent stabilization.
Comparison to Competitors
Eli Lilly & Co., P/E, long-term trends, comparison to competitors
| Eli Lilly & Co. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 12, 2026 | ||||||||||||
| Feb 19, 2025 | ||||||||||||
| Feb 21, 2024 | ||||||||||||
| Feb 22, 2023 | ||||||||||||
| Feb 23, 2022 | ||||||||||||
| Feb 17, 2021 | ||||||||||||
| Feb 19, 2020 | ||||||||||||
| Feb 19, 2019 | ||||||||||||
| Feb 20, 2018 | ||||||||||||
| Feb 21, 2017 | ||||||||||||
| Feb 19, 2016 | ||||||||||||
| Feb 19, 2015 | ||||||||||||
| Feb 19, 2014 | ||||||||||||
| Feb 21, 2013 | ||||||||||||
| Feb 24, 2012 | ||||||||||||
| Feb 22, 2011 | ||||||||||||
| Feb 22, 2010 | ||||||||||||
| Feb 27, 2009 | ||||||||||||
| Feb 29, 2008 | ||||||||||||
| Feb 28, 2007 | ||||||||||||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Eli Lilly & Co., P/E, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Eli Lilly & Co. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Feb 12, 2026 | ||
| Feb 19, 2025 | ||
| Feb 21, 2024 | ||
| Feb 22, 2023 | ||
| Feb 23, 2022 | ||
| Feb 17, 2021 | ||
| Feb 19, 2020 | ||
| Feb 19, 2019 | ||
| Feb 20, 2018 | ||
| Feb 21, 2017 | ||
| Feb 19, 2016 | ||
| Feb 19, 2015 | ||
| Feb 19, 2014 | ||
| Feb 21, 2013 | ||
| Feb 24, 2012 | ||
| Feb 22, 2011 | ||
| Feb 22, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Feb 28, 2007 | ||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Eli Lilly & Co., P/E, long-term trends, comparison to industry (health care)
| Eli Lilly & Co. | Health Care | |
|---|---|---|
| Feb 12, 2026 | ||
| Feb 19, 2025 | ||
| Feb 21, 2024 | ||
| Feb 22, 2023 | ||
| Feb 23, 2022 | ||
| Feb 17, 2021 | ||
| Feb 19, 2020 | ||
| Feb 19, 2019 | ||
| Feb 20, 2018 | ||
| Feb 21, 2017 | ||
| Feb 19, 2016 | ||
| Feb 19, 2015 | ||
| Feb 19, 2014 | ||
| Feb 21, 2013 | ||
| Feb 24, 2012 | ||
| Feb 22, 2011 | ||
| Feb 22, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Feb 28, 2007 | ||
| Mar 1, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).