Return on Assets (ROA)
since 2005
Calculation
Eli Lilly & Co., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income (loss)1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 18.35% | = | 100 | × | 20,640) | ÷ | 112,476) |
| Dec 31, 2024 | 13.45% | = | 100 | × | 10,590) | ÷ | 78,715) |
| Dec 31, 2023 | 8.19% | = | 100 | × | 5,240) | ÷ | 64,006) |
| Dec 31, 2022 | 12.62% | = | 100 | × | 6,245) | ÷ | 49,490) |
| Dec 31, 2021 | 11.44% | = | 100 | × | 5,582) | ÷ | 48,806) |
| Dec 31, 2020 | 13.28% | = | 100 | × | 6,194) | ÷ | 46,633) |
| Dec 31, 2019 | 21.17% | = | 100 | × | 8,318) | ÷ | 39,286) |
| Dec 31, 2018 | 7.36% | = | 100 | × | 3,232) | ÷ | 43,908) |
| Dec 31, 2017 | -0.45% | = | 100 | × | (204) | ÷ | 44,981) |
| Dec 31, 2016 | 7.05% | = | 100 | × | 2,738) | ÷ | 38,806) |
| Dec 31, 2015 | 6.77% | = | 100 | × | 2,408) | ÷ | 35,569) |
| Dec 31, 2014 | 6.43% | = | 100 | × | 2,391) | ÷ | 37,178) |
| Dec 31, 2013 | 13.29% | = | 100 | × | 4,685) | ÷ | 35,249) |
| Dec 31, 2012 | 11.89% | = | 100 | × | 4,089) | ÷ | 34,399) |
| Dec 31, 2011 | 12.92% | = | 100 | × | 4,348) | ÷ | 33,660) |
| Dec 31, 2010 | 16.35% | = | 100 | × | 5,070) | ÷ | 31,001) |
| Dec 31, 2009 | 15.76% | = | 100 | × | 4,329) | ÷ | 27,461) |
| Dec 31, 2008 | -7.09% | = | 100 | × | (2,072) | ÷ | 29,213) |
| Dec 31, 2007 | 11.02% | = | 100 | × | 2,953) | ÷ | 26,788) |
| Dec 31, 2006 | 12.13% | = | 100 | × | 2,663) | ÷ | 21,955) |
| Dec 31, 2005 | 8.05% | = | 100 | × | 1,980) | ÷ | 24,581) |
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$ in millions
The Return on Assets (ROA) for the period examined demonstrates considerable fluctuation. Initially, the ROA exhibited an upward trend from 2005 to 2009, followed by periods of volatility and subsequent increases towards the end of the analyzed timeframe. A detailed examination reveals distinct phases in the company’s profitability relative to its assets.
- Initial Growth Phase (2005-2009)
- From 2005 to 2009, the ROA increased from 8.05% to a peak of 15.76%. This indicates improving profitability in relation to the asset base. The increase suggests effective asset utilization and/or improved net income generation during this period. However, 2008 saw a significant negative net income, resulting in a corresponding negative ROA of -7.09%, representing a substantial deviation from the preceding trend.
- Period of Stabilization and Fluctuations (2010-2017)
- Following 2009, the ROA experienced a period of stabilization with fluctuations. From 2010 to 2017, the ROA generally remained between approximately 6.43% and 16.35%. While there were years of positive returns, the ROA in 2017 dipped to -0.45% due to a net loss, highlighting the sensitivity of the ratio to bottom-line performance. This period suggests a more moderate level of profitability compared to the earlier growth phase.
- Recent Improvement (2018-2025)
- From 2018 onwards, the ROA demonstrated a clear upward trajectory. The ROA increased significantly in 2019, reaching 21.17%, driven by a substantial increase in net income. While there were some fluctuations in subsequent years, the ROA generally remained above 11.44% through 2021. The most recent years, 2022 through 2025, show a continued positive trend, culminating in an ROA of 18.35% in 2025. This suggests a strengthening of the company’s ability to generate profits from its assets, potentially due to improved operational efficiency, successful product launches, or strategic asset management.
Overall, the ROA has shown a long-term increasing trend, despite intermittent setbacks. The most recent data indicates a robust and improving return on assets, suggesting enhanced financial performance. The significant fluctuations observed underscore the importance of considering net income volatility when assessing the company’s profitability relative to its asset base.
Comparison to Competitors
Eli Lilly & Co., ROA, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 18.35% | — | — | — | — | — | 13.46% | — | — | 11.11% | — | — |
| Dec 31, 2024 | 13.45% | 3.17% | 4.45% | -9.66% | 5.03% | 0.81% | 7.81% | 14.62% | 3.76% | 11.69% | 6.51% | -2.38% |
| Dec 31, 2023 | 8.19% | 3.61% | 6.91% | 8.43% | 5.64% | 9.12% | 20.98% | 0.34% | 0.94% | 11.95% | 6.07% | 15.92% |
| Dec 31, 2022 | 12.62% | 8.53% | 10.06% | 6.53% | 8.55% | 7.27% | 9.57% | 13.30% | 15.91% | 14.85% | 7.15% | 18.30% |
| Dec 31, 2021 | 11.44% | 7.88% | 9.63% | 6.40% | 7.73% | 9.16% | 11.47% | 12.35% | 12.11% | 31.75% | 8.12% | 17.44% |
| Dec 31, 2020 | 13.28% | 3.07% | 11.54% | -7.61% | 4.79% | 0.18% | 8.41% | 7.72% | 6.23% | 20.47% | 9.23% | 23.07% |
| Dec 31, 2019 | 21.17% | 8.84% | 13.13% | 2.65% | 4.85% | 8.74% | 9.59% | 11.66% | 9.72% | 14.29% | 6.33% | 14.15% |
| Dec 31, 2018 | 7.36% | 9.58% | 12.64% | 14.06% | 5.54% | 8.57% | 10.00% | 7.53% | 7.00% | 20.83% | 5.22% | 33.57% |
| Dec 31, 2017 | -0.45% | 7.50% | 2.48% | 3.00% | 5.34% | 6.58% | 0.83% | 2.72% | 12.40% | 13.67% | 3.93% | 7.43% |
| Dec 31, 2016 | 7.05% | 9.01% | 9.95% | 13.22% | 5.64% | 23.70% | 11.71% | 4.11% | 4.20% | 12.84% | 4.40% | -3.87% |
| Dec 31, 2015 | 6.77% | 9.70% | 9.69% | 4.93% | 6.96% | 34.93% | 11.55% | 4.36% | 4.16% | 11.34% | 4.83% | -22.26% |
| Dec 31, 2014 | 6.43% | 6.44% | 7.47% | 5.94% | 7.02% | 34.91% | 12.45% | 12.12% | 5.40% | 8.99% | 4.42% | -31.63% |
| Dec 31, 2013 | 13.29% | 14.14% | 7.68% | 6.64% | 7.77% | 13.67% | 10.42% | 4.17% | 12.78% | 14.38% | 4.00% | -19.19% |
| Dec 31, 2012 | 11.89% | 19.53% | 8.00% | 5.46% | 7.26% | 12.20% | 8.94% | 5.81% | 7.84% | 36.06% | 4.29% | -3.88% |
| Dec 31, 2011 | 12.92% | — | 7.54% | 11.25% | 7.25% | 16.20% | 8.51% | 5.97% | 5.32% | -16.75% | 4.96% | 1.34% |
| Dec 31, 2010 | 16.35% | — | 10.64% | 9.98% | 8.07% | 25.03% | 12.96% | 0.81% | 4.23% | -9.59% | 4.85% | -43.74% |
| Dec 31, 2009 | 15.76% | — | 11.62% | 34.22% | 5.88% | 27.18% | 12.95% | 11.51% | 4.05% | -9.15% | 3.93% | -32.84% |
| Dec 31, 2008 | -7.09% | — | 11.51% | 17.76% | 7.53% | 28.65% | 15.25% | 16.54% | 7.29% | -12.34% | 4.71% | -46.90% |
| Dec 31, 2007 | 11.02% | — | 9.14% | 8.27% | 7.84% | 27.68% | 13.06% | 6.77% | 7.07% | -11.28% | 3.59% | -65.05% |
| Dec 31, 2006 | 12.13% | — | 8.73% | 6.20% | 8.72% | -29.12% | 15.67% | 9.95% | 16.84% | -17.49% | 0.79% | -22.45% |
| Dec 31, 2005 | 8.05% | — | 12.54% | 10.66% | 9.80% | 21.62% | 17.94% | 10.33% | 6.88% | -22.54% | 5.25% | -37.05% |
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., ROA, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Eli Lilly & Co. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2025 | 18.35% | — |
| Dec 31, 2024 | 13.45% | 5.30% |
| Dec 31, 2023 | 8.19% | 7.25% |
| Dec 31, 2022 | 12.62% | 10.67% |
| Dec 31, 2021 | 11.44% | 10.42% |
| Dec 31, 2020 | 13.28% | 5.45% |
| Dec 31, 2019 | 21.17% | 9.02% |
| Dec 31, 2018 | 7.36% | 8.97% |
| Dec 31, 2017 | -0.45% | 5.28% |
| Dec 31, 2016 | 7.05% | 8.61% |
| Dec 31, 2015 | 6.77% | 8.93% |
| Dec 31, 2014 | 6.43% | 9.45% |
| Dec 31, 2013 | 13.29% | 9.46% |
| Dec 31, 2012 | 11.89% | 8.30% |
| Dec 31, 2011 | 12.92% | 7.30% |
| Dec 31, 2010 | 16.35% | 7.07% |
| Dec 31, 2009 | 15.76% | 10.02% |
| Dec 31, 2008 | -7.09% | 10.37% |
| Dec 31, 2007 | 11.02% | 8.86% |
| Dec 31, 2006 | 12.13% | 11.91% |
| Dec 31, 2005 | 8.05% | 10.42% |
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., ROA, long-term trends, comparison to industry (health care)
| Eli Lilly & Co. | Health Care | |
|---|---|---|
| Dec 31, 2025 | 18.35% | — |
| Dec 31, 2024 | 13.45% | 5.73% |
| Dec 31, 2023 | 8.19% | 7.19% |
| Dec 31, 2022 | 12.62% | 9.66% |
| Dec 31, 2021 | 11.44% | 9.46% |
| Dec 31, 2020 | 13.28% | 5.81% |
| Dec 31, 2019 | 21.17% | 8.32% |
| Dec 31, 2018 | 7.36% | 7.90% |
| Dec 31, 2017 | -0.45% | 5.19% |
| Dec 31, 2016 | 7.05% | 7.31% |
| Dec 31, 2015 | 6.77% | 7.71% |
| Dec 31, 2014 | 6.43% | 8.59% |
| Dec 31, 2013 | 13.29% | 8.76% |
| Dec 31, 2012 | 11.89% | 8.09% |
| Dec 31, 2011 | 12.92% | 7.36% |
| Dec 31, 2010 | 16.35% | 7.24% |
| Dec 31, 2009 | 15.76% | 9.73% |
| Dec 31, 2008 | -7.09% | 9.50% |
| Dec 31, 2007 | 11.02% | 8.88% |
| Dec 31, 2006 | 12.13% | 10.52% |
| Dec 31, 2005 | 8.05% | 9.67% |
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).