Stock Analysis on Net
Stock Analysis on Net
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Eli Lilly & Co. (NYSE:LLY)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

Eli Lilly & Co., current enterprise value calculation

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Current share price (P) $145.16
No. shares of common stock outstanding 956,581,598
US$ in thousands
Common equity (market value)1 138,857,385 
Add: Noncontrolling interests (per books) 92,200 
Total equity 138,949,585 
Add: Short-term borrowings and current maturities of long-term debt (per books) 1,499,300 
Add: Long-term debt, excluding current maturities (per books) 13,817,900 
Total equity and debt 154,266,785 
Less: Cash and cash equivalents 2,337,500 
Less: Short-term investments 101,000 
Enterprise value (EV) 151,828,285 

Based on: 10-K (filing date: 2020-02-19).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 145.16 × 956,581,598


Historical Enterprise Value (EV)

Eli Lilly & Co., EV calculation

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $140.83 $122.13 $77.55 $80.36 $72.61
No. shares of common stock outstanding1 956,382,203 1,035,418,562 1,095,597,580 1,103,352,450 1,106,093,485
US$ in thousands
Common equity (market value)3 134,687,306  126,455,669  84,963,592  88,665,403  80,313,448 
Add: Noncontrolling interests (book value) 92,200  1,080,400  75,700  72,800  19,000 
Total equity 134,779,506  127,536,069  85,039,292  88,738,203  80,332,448 
Add: Short-term borrowings and current maturities of long-term debt (book value) 1,499,300  1,131,200  3,706,600  1,937,400  6,100 
Add: Long-term debt, excluding current maturities (book value) 13,817,900  11,639,700  9,940,500  8,367,800  7,972,400 
Total equity and debt 150,096,706  140,306,969  98,686,392  99,043,403  88,310,948 
Less: Cash and cash equivalents 2,337,500  7,998,200  6,536,200  4,582,100  3,666,400 
Less: Short-term investments 101,000  88,200  1,497,900  1,456,500  785,400 
Enterprise value (EV) 147,658,206  132,220,569  90,652,292  93,004,803  83,859,148 

Based on: 10-K (filing date: 2020-02-19), 10-K (filing date: 2019-02-19), 10-K (filing date: 2018-02-20), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-19).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of Eli Lilly & Co.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 140.83 × 956,382,203

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. Eli Lilly & Co.’s EV increased from 2017 to 2018 and from 2018 to 2019.