Price to FCFE (P/FCFE)
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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
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Free Cash Flow to Equity (FCFE)
Eli Lilly & Co., FCFE calculation
US$ in thousands
Based on: 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).
- Net cash provided by operating activities
- The net cash provided by operating activities demonstrated an overall fluctuating trend over the five-year period. Starting at 6,499,600 US dollars in 2020, the cash flow increased to 7,260,700 US dollars in 2021, showing positive growth. However, there was a decline in 2022 to 7,084,400 US dollars and a more pronounced drop in 2023 to 4,240,100 US dollars. In 2024, the value rebounded significantly to 8,817,900 US dollars, reaching the highest level in the observed timeframe.
- Free cash flow to equity (FCFE)
- Free cash flow to equity illustrated a generally increasing pattern with some variability. It rose from 5,403,300 US dollars in 2020 to 6,452,300 US dollars in 2021, indicating improved cash flow available to equity holders. In 2022, the FCFE declined to 5,168,100 US dollars, reflecting a temporary setback. Subsequently, it experienced a sharp increase in 2023 to 9,442,400 US dollars and further growth in 2024 to 12,661,200 US dollars, marking a substantial improvement and the highest recorded FCFE during the period.
- Summary of trends and insights
- Both net cash from operating activities and free cash flow to equity show significant volatility over the five years, with notable decreases in 2023 followed by strong recoveries in 2024. The decline in operating cash flow and FCFE in 2023 may suggest operational or investment challenges during that year, whereas the recovery in 2024 points to effective management actions or improved business conditions. The consistent increase in FCFE from 2022 to 2024, surpassing the earlier years substantially, highlights enhanced capacity to generate cash flows available for equity shareholders towards the end of the period.
Price to FCFE Ratio, Current
Eli Lilly & Co., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| AbbVie Inc. | |
| Amgen Inc. | |
| Bristol-Myers Squibb Co. | |
| Danaher Corp. | |
| Gilead Sciences Inc. | |
| Johnson & Johnson | |
| Merck & Co. Inc. | |
| Pfizer Inc. | |
| Regeneron Pharmaceuticals Inc. | |
| Thermo Fisher Scientific Inc. | |
| Vertex Pharmaceuticals Inc. | |
| P/FCFE, Sector | |
| Pharmaceuticals, Biotechnology & Life Sciences | |
| P/FCFE, Industry | |
| Health Care | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Eli Lilly & Co., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in thousands)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| 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. | ||||||
| P/FCFE, Sector | ||||||
| Pharmaceuticals, Biotechnology & Life Sciences | ||||||
| P/FCFE, Industry | ||||||
| Health Care | ||||||
Based on: 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).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Eli Lilly & Co. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price exhibited a strong upward trend over the five-year period, increasing from $206.46 at the end of 2020 to $867.05 by the end of 2024. The most significant jump occurred between 2022 and 2023, where the price more than doubled, indicating heightened investor optimism or substantial market events positively affecting valuation.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share fluctuated during the period. After rising from $5.64 in 2020 to $6.78 in 2021, it declined to $5.44 in 2022. Subsequently, it showed a notable recovery and growth, reaching $9.94 in 2023 and further increasing to $13.35 in 2024. This pattern suggests some variability in cash flow generation but an overall strengthening in the latter years.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio initially declined slightly from 36.62 in 2020 to 35.17 in 2021, before sharply rising to 60.51 in 2022 and climbing further to 75.06 in 2023. It then fell to 64.93 in 2024. This high multiple in the latter years, especially during 2022 and 2023, reflects increased investor willingness to pay a premium relative to free cash flow, possibly due to expected growth or favorable market conditions. The dip in 2024 indicates a modest correction or adjustment in valuation relative to cash flow.