Stock Analysis on Net
Stock Analysis on Net

Eli Lilly & Co. (NYSE:LLY)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Eli Lilly & Co., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Price to earnings (P/E) 22.54 25.59 26.56 16.19 13.31 13.84 18.38 39.13 249.24 79.88 41.51 37.39 41.29 32.39 33.66 37.12 35.95 33.35
Price to operating profit (P/OP) 22.98 25.58 24.82 27.08 23.37 23.99 38.43 33.99 37.45 47.62 25.86 39.61 33.07 29.23 32.37 25.63 27.59 30.51 28.95 29.86
Price to sales (P/S) 5.41 6.26 6.36 6.03 4.67 4.67 4.80 5.15 4.62 4.34 3.85 3.71 4.11 4.16 4.18 4.18 3.95 4.44 4.13 4.02
Price to book value (P/BV) 26.02 35.12 47.73 51.67 31.28 39.03 46.37 12.87 8.58 8.96 6.18 7.33 6.20 6.49 6.43 6.33 5.28 6.25 5.55 5.51 5.94 6.39 5.35

Based on: 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-19), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-05-01), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Eli Lilly & Co.’s P/E ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Eli Lilly & Co.’s P/OP ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Eli Lilly & Co.’s P/S ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Eli Lilly & Co.’s P/BV ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Earnings (P/E)

Eli Lilly & Co., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 956,581,598 956,470,372 956,450,448 956,382,203 960,130,771 965,432,952 970,830,868 1,035,418,562 1,059,322,255 1,073,987,856 1,085,430,420 1,095,597,580 1,101,094,711 1,100,988,944 1,103,388,743 1,103,352,450 1,103,948,230 1,103,843,444 1,103,837,002 1,106,093,485 1,108,076,549 1,108,540,541 1,109,741,140
Selected Financial Data (US$)
Net income (loss) (in thousands) 1,208,400  1,412,000  1,456,500  1,495,700  1,253,900  1,327,200  4,241,600  1,125,000  1,149,500  (259,900) 1,217,400  (1,656,900) 555,600  1,008,000  (110,800) 771,800  778,000  747,700  440,100  478,400  799,700  600,800  529,500 
Earnings per share (EPS)2 5.83 5.87 5.79 8.70 8.28 8.12 6.44 3.12 0.42 -0.13 1.04 -0.19 2.02 2.22 1.98 2.48 2.21 2.23 2.10 2.18 0.00 0.00 0.00
Share price1, 3 131.31 150.29 153.63 140.83 110.20 112.42 118.46 122.13 105.90 96.43 82.73 77.55 83.86 83.10 81.82 80.36 74.53 82.93 75.53 72.61 81.57 84.54 71.87
Valuation Ratio
P/E ratio4 22.54 25.59 26.56 16.19 13.31 13.84 18.38 39.13 249.24 79.88 41.51 37.39 41.29 32.39 33.66 37.12 35.95 33.35
Benchmarks
P/E Ratio, Competitors5
Abbott Laboratories 58.36 45.61 41.83 44.92 53.17 52.98 56.47 136.66 122.73 213.07 220.29 45.00 73.04 50.48 55.16 41.28 29.01 22.87 12.83
AbbVie Inc. 23.92 14.70 17.82 37.29 23.42 21.71 20.60 17.29 22.09 24.91 35.47 22.56 17.16 16.90 16.54 15.75 18.94 18.46 17.01
Amgen Inc. 17.25 19.97 17.70 17.07 15.53 14.06 13.30 14.01 55.79 52.69 52.13 64.06 15.67 15.70 15.16 16.03 14.24 17.32 16.55 15.95
Biogen Inc. 8.14 7.50 8.11 9.97 9.43 8.40 9.32 14.79 19.99 25.30 18.66 28.83 19.16 18.17 17.49 15.41 16.60 16.21 16.57 16.67
Bristol-Myers Squibb Co. 144.77 41.99 16.53 11.97 14.51 16.81 56.09 251.38 92.56 103.55 23.59 19.40 18.96 20.56 25.80 43.47 76.64 64.22
Gilead Sciences Inc. 19.58 16.45 30.72 13.61 14.26 15.26 57.34 45.72 24.66 22.75 8.24 7.85 6.92 6.83 6.47 6.49 6.50 6.75
Illumina Inc. 66.98 74.93 47.73 43.43 43.91 46.92 54.25 52.00 62.22 73.58 59.94 44.63 38.26 38.75 36.92 52.01 45.62 56.56 50.34 50.07
Johnson & Johnson 22.51 25.68 23.06 25.99 24.03 21.50 25.68 23.74 243.48 256.64 271.47 268.10 23.75 21.91 20.12 20.08 19.64 22.55 20.29 18.80
Merck & Co. Inc. 19.70 19.18 20.60 22.67 23.07 23.97 33.46 56.97 132.14 96.71 61.63 53.20 33.41 39.83 46.14 30.16 33.87 32.46 31.64
Pfizer Inc. 15.01 13.00 11.63 12.60 16.12 19.69 21.58 10.64 10.66 9.43 9.99 21.39 23.88 27.02 28.10 32.43 30.28 26.41 26.37
Regeneron Pharmaceuticals Inc. 22.27 28.35 19.86 17.03 15.94 14.56 18.17 21.53 26.96 22.09 28.99 34.90 43.35 47.93 42.64 45.15 61.42 53.53 60.50
Vertex Pharmaceuticals Inc. 20.14 34.05 43.74 52.90 23.44 20.80 20.51 22.59 65.41 108.21 175.96 155.08 193.19 149.56 166.15
Zoetis Inc. 47.41 37.05 45.89 39.46 42.08 35.57 28.68 38.90 39.51 39.53 44.09 35.00 33.42 33.79 31.63 35.08 39.58 62.14 62.14

Based on: 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-19), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-05-01), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
EPS = (Net income (loss)Q3 2020 + Net income (loss)Q2 2020 + Net income (loss)Q1 2020 + Net income (loss)Q4 2019) ÷ No. shares of common stock outstanding
= (1,208,400,000 + 1,412,000,000 + 1,456,500,000 + 1,495,700,000) ÷ 956,581,598 = 5.83

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

4 Q3 2020 Calculation
P/E ratio = Share price ÷ EPS
= 131.31 ÷ 5.83 = 22.54

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Eli Lilly & Co.’s P/E ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Operating Profit (P/OP)

Eli Lilly & Co., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 956,581,598 956,470,372 956,450,448 956,382,203 960,130,771 965,432,952 970,830,868 1,035,418,562 1,059,322,255 1,073,987,856 1,085,430,420 1,095,597,580 1,101,094,711 1,100,988,944 1,103,388,743 1,103,352,450 1,103,948,230 1,103,843,444 1,103,837,002 1,106,093,485 1,108,076,549 1,108,540,541 1,109,741,140
Selected Financial Data (US$)
Operating income (loss) (in thousands) 1,278,300  1,196,800  1,590,800  1,400,200  1,430,700  1,498,300  645,100  954,200  1,426,400  (33,200) 1,373,500  229,000  605,500  1,264,400  46,100  876,200  943,500  923,300  715,800  399,900  961,300  803,000  525,200 
Operating profit per share2 5.71 5.87 6.19 5.20 4.72 4.69 3.08 3.59 2.83 2.02 3.20 1.96 2.54 2.84 2.53 3.13 2.70 2.72 2.61 2.43 0.00 0.00 0.00
Share price1, 3 131.31 150.29 153.63 140.83 110.20 112.42 118.46 122.13 105.90 96.43 82.73 77.55 83.86 83.10 81.82 80.36 74.53 82.93 75.53 72.61 81.57 84.54 71.87
Valuation Ratio
P/OP ratio4 22.98 25.58 24.82 27.08 23.37 23.99 38.43 33.99 37.45 47.62 25.86 39.61 33.07 29.23 32.37 25.63 27.59 30.51 28.95 29.86
Benchmarks
P/OP Ratio, Competitors5
Abbott Laboratories 45.19 35.87 34.03 34.32 37.50 36.74 36.64 38.12 38.00 39.99 60.88 47.72 41.32 30.85 24.25 18.51 23.04 20.13 19.80
AbbVie Inc. 15.23 9.13 10.82 18.43 13.53 17.93 18.35 12.32 14.01 15.78 19.63 14.77 11.57 11.19 10.49 10.48 12.51 12.44 11.61
Amgen Inc. 13.82 15.84 14.22 13.84 12.52 11.35 10.73 11.46 12.13 12.16 11.45 12.71 12.55 12.46 11.99 12.64 11.56 14.06 13.50 13.07
Biogen Inc. 6.21 6.03 6.48 8.34 7.58 6.74 7.43 11.13 10.78 12.80 9.45 13.70 14.01 13.19 12.69 11.08 11.87 11.51 11.89 12.09
Bristol-Myers Squibb Co. 33.99 27.33 24.42 13.50 10.89 13.68 16.16 19.56 27.48 23.10 28.87 24.60 20.23 19.09 19.79 24.47 43.34 64.30 53.18
Gilead Sciences Inc. 21.83 20.66 19.07 9.61 10.14 10.15 9.74 9.58 6.83 7.45 6.02 5.82 5.22 5.23 5.08 5.20 5.25 5.50
Illumina Inc. 59.77 60.31 46.36 44.17 46.74 51.96 53.12 48.64 46.46 55.70 44.02 53.47 57.62 58.10 52.79 40.99 34.40 43.07 37.39 37.71
Johnson & Johnson 19.46 19.66 18.67 19.83 17.23 19.08 20.36 18.34 20.42 18.93 18.18 18.94 18.71 17.29 15.95 16.09 16.59 18.63 17.98 16.50
Merck & Co. Inc. 17.23 15.88 17.47 17.97 18.21 19.17 25.08 25.60 34.95 27.63 22.58 38.37 25.21 30.01 33.62 21.16 24.34 20.90 20.29
Pfizer Inc. 18.20 15.97 14.36 14.64 13.82 15.62 17.19 18.14 17.36 15.05 15.62 16.20 16.11 16.34 16.88 16.63 16.98 15.88 15.52
Regeneron Pharmaceuticals Inc. 23.98 26.60 19.01 16.21 15.41 14.44 17.53 16.43 18.75 14.23 16.71 23.63 29.60 32.24 28.70 29.64 36.67 30.59 30.74
Vertex Pharmaceuticals Inc. 20.35 33.91 40.27 51.98 64.96 52.36 56.45 74.57 66.84 442.93 331.55 1,018.05 112.83 99.84 2,143.58
Zoetis Inc. 36.24 28.78 35.00 30.23 32.11 27.78 22.59 23.98 23.28 21.51 22.33 21.75 20.64 20.42 18.65 18.87 20.90 28.06 28.09

Based on: 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-19), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-05-01), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Operating profit per share = (Operating income (loss)Q3 2020 + Operating income (loss)Q2 2020 + Operating income (loss)Q1 2020 + Operating income (loss)Q4 2019) ÷ No. shares of common stock outstanding
= (1,278,300,000 + 1,196,800,000 + 1,590,800,000 + 1,400,200,000) ÷ 956,581,598 = 5.71

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

4 Q3 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 131.31 ÷ 5.71 = 22.98

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Eli Lilly & Co.’s P/OP ratio increased from Q1 2020 to Q2 2020 but then decreased significantly from Q2 2020 to Q3 2020.

Price to Sales (P/S)

Eli Lilly & Co., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 956,581,598 956,470,372 956,450,448 956,382,203 960,130,771 965,432,952 970,830,868 1,035,418,562 1,059,322,255 1,073,987,856 1,085,430,420 1,095,597,580 1,101,094,711 1,100,988,944 1,103,388,743 1,103,352,450 1,103,948,230 1,103,843,444 1,103,837,002 1,106,093,485 1,108,076,549 1,108,540,541 1,109,741,140
Selected Financial Data (US$)
Revenue (in thousands) 5,740,600  5,499,400  5,859,800  6,114,000  5,476,600  5,636,700  5,092,200  6,438,600  6,061,900  6,355,200  5,700,000  6,160,700  5,658,000  5,824,300  5,228,300  5,760,500  5,191,700  5,404,800  4,865,100  5,375,600  4,959,700  4,978,700  4,644,700 
Sales per share2 24.27 23.99 24.14 23.34 23.58 24.06 24.67 23.72 22.92 22.23 21.51 20.88 20.41 19.99 19.56 19.23 18.88 18.67 18.28 18.04 0.00 0.00 0.00
Share price1, 3 131.31 150.29 153.63 140.83 110.20 112.42 118.46 122.13 105.90 96.43 82.73 77.55 83.86 83.10 81.82 80.36 74.53 82.93 75.53 72.61 81.57 84.54 71.87
Valuation Ratio
P/S ratio4 5.41 6.26 6.36 6.03 4.67 4.67 4.80 5.15 4.62 4.34 3.85 3.71 4.11 4.16 4.18 4.18 3.95 4.44 4.13 4.02
Benchmarks
P/S Ratio, Competitors5
Abbott Laboratories 5.77 5.09 4.83 4.72 4.98 4.52 4.37 3.98 3.84 3.57 3.84 3.77 3.62 3.40 3.70 2.73 3.21 2.74 2.78
AbbVie Inc. 4.59 3.64 4.22 3.69 2.96 3.56 3.58 4.06 4.60 5.37 6.67 5.50 4.25 4.07 3.84 3.79 4.38 4.25 3.83
Amgen Inc. 5.33 6.30 5.96 6.03 5.61 5.00 4.78 5.22 5.56 5.65 5.27 5.82 5.85 5.85 5.48 5.65 5.01 5.97 5.60 5.28
Biogen Inc. 2.90 3.07 3.31 4.08 3.57 3.16 3.15 4.87 4.81 5.83 4.39 5.96 5.64 5.11 5.28 4.98 5.65 5.51 5.60 5.49
Bristol-Myers Squibb Co. 3.97 4.45 5.52 3.87 3.11 3.21 3.67 3.64 4.38 4.04 5.02 4.85 4.40 4.59 4.72 4.70 7.08 7.13 6.07
Gilead Sciences Inc. 3.95 4.34 4.00 3.76 3.69 3.84 3.84 4.17 4.43 3.52 4.10 3.54 3.42 3.05 3.08 3.13 3.32 3.48 3.80
Illumina Inc. 13.20 15.50 12.64 12.28 12.35 12.92 13.59 12.89 13.12 15.36 11.58 11.77 11.53 11.65 11.27 10.03 8.53 10.58 9.26 10.41
Johnson & Johnson 4.73 4.84 4.78 4.79 4.16 4.32 4.62 4.45 4.61 4.36 4.29 4.56 5.06 4.93 4.60 4.62 4.37 4.78 4.49 4.13
Merck & Co. Inc. 4.38 4.05 4.33 4.59 4.87 4.67 4.92 4.57 4.29 3.75 3.68 3.80 4.25 4.34 4.54 4.15 4.41 3.80 3.56
Pfizer Inc. 4.32 4.05 3.66 3.85 3.80 4.20 4.49 4.75 4.51 3.89 4.05 4.00 3.80 3.75 3.84 3.82 4.08 3.95 3.76
Regeneron Pharmaceuticals Inc. 8.31 8.10 5.34 4.79 4.56 5.11 6.62 6.08 6.92 5.20 5.92 8.09 9.56 9.27 7.86 7.61 9.82 8.95 9.38
Vertex Pharmaceuticals Inc. 9.04 13.11 13.71 14.95 13.89 13.34 13.54 15.54 14.96 17.14 16.47 16.42 16.47 18.23 14.60 12.51 11.33 15.62 15.73 20.38
Zoetis Inc. 12.09 9.42 11.00 9.37 9.57 8.35 7.03 7.92 7.88 7.10 7.18 6.40 5.85 5.83 5.31 4.95 5.21 4.87 4.42

Based on: 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-19), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-05-01), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
Sales per share = (RevenueQ3 2020 + RevenueQ2 2020 + RevenueQ1 2020 + RevenueQ4 2019) ÷ No. shares of common stock outstanding
= (5,740,600,000 + 5,499,400,000 + 5,859,800,000 + 6,114,000,000) ÷ 956,581,598 = 24.27

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

4 Q3 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 131.31 ÷ 24.27 = 5.41

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Eli Lilly & Co.’s P/S ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Price to Book Value (P/BV)

Eli Lilly & Co., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 956,581,598 956,470,372 956,450,448 956,382,203 960,130,771 965,432,952 970,830,868 1,035,418,562 1,059,322,255 1,073,987,856 1,085,430,420 1,095,597,580 1,101,094,711 1,100,988,944 1,103,388,743 1,103,352,450 1,103,948,230 1,103,843,444 1,103,837,002 1,106,093,485 1,108,076,549 1,108,540,541 1,109,741,140
Selected Financial Data (US$)
Total Eli Lilly and Company shareholders’ equity (in thousands) 4,826,900  4,092,900  3,078,800  2,606,900  3,382,500  2,780,500  2,480,300  9,828,700  13,076,600  11,555,200  14,527,000  11,592,200  14,890,300  14,100,800  14,031,000  14,007,700  15,589,200  14,637,300  15,009,900  14,571,300  15,221,400  14,670,300  14,919,800 
Book value per share (BVPS)2 5.05 4.28 3.22 2.73 3.52 2.88 2.55 9.49 12.34 10.76 13.38 10.58 13.52 12.81 12.72 12.70 14.12 13.26 13.60 13.17 13.74 13.23 13.44
Share price1, 3 131.31 150.29 153.63 140.83 110.20 112.42 118.46 122.13 105.90 96.43 82.73 77.55 83.86 83.10 81.82 80.36 74.53 82.93 75.53 72.61 81.57 84.54 71.87
Valuation Ratio
P/BV ratio4 26.02 35.12 47.73 51.67 31.28 39.03 46.37 12.87 8.58 8.96 6.18 7.33 6.20 6.49 6.43 6.33 5.28 6.25 5.55 5.51 5.94 6.39 5.35
Benchmarks
P/BV Ratio, Competitors5
Abbott Laboratories 5.94 5.40 4.96 4.65 4.86 4.49 4.38 3.94 3.72 3.23 3.40 2.95 2.71 2.42 3.76 2.72 3.20 2.70 2.68 3.19 3.27 3.17
AbbVie Inc. 11.31 44.74 36.95 22.43 18.89 21.33 21.24 14.80 19.21 21.77 22.17 21.56 20.64 75.48
Amgen Inc. 11.57 13.67 14.33 13.84 11.47 10.37 9.92 9.41 8.56 8.35 7.41 5.02 3.98 4.05 3.91 4.14 3.51 4.27 4.16 3.94 4.38 4.87 4.66
Biogen Inc. 3.85 3.93 3.80 4.40 3.63 3.44 3.15 5.03 4.63 6.13 3.94 5.80 5.19 5.16 5.30 4.70 5.32 5.43 5.93 6.31 5.83 5.61 8.10
Bristol-Myers Squibb Co. 2.82 2.77 2.80 5.30 4.63 4.91 5.89 5.89 7.67 6.65 8.88 6.75 6.05 6.36 5.66 5.56 8.36 8.38 7.04 7.39 7.52 6.92
Gilead Sciences Inc. 4.79 4.40 3.93 4.02 3.58 3.83 3.89 3.98 4.66 4.15 5.15 3.85 4.23 4.28 4.88 5.78 6.83 8.42 6.59 9.02 10.69 8.88
Illumina Inc. 9.09 11.38 9.70 9.43 9.62 10.16 11.58 11.43 12.15 14.64 11.30 11.79 10.48 10.67 10.71 10.95 9.03 11.90 10.48 12.50 11.25 17.69 16.98
Johnson & Johnson 5.93 6.19 6.46 6.61 5.84 5.78 6.39 6.08 5.81 5.60 5.34 5.79 5.08 4.98 4.72 4.72 4.30 4.68 4.34 4.07 3.91 3.90 4.09
Merck & Co. Inc. 7.47 7.43 7.83 7.87 7.82 7.31 7.79 5.88 5.44 4.54 4.30 3.96 4.31 4.35 4.51 3.78 4.01 3.42 3.15 3.37 3.54 3.57
Pfizer Inc. 3.31 3.16 3.00 3.14 3.42 3.84 3.80 3.55 3.44 2.80 2.98 3.45 3.41 3.37 3.40 3.21 3.40 3.19 2.84 3.15 3.24 3.07
Regeneron Pharmaceuticals Inc. 7.34 5.33 3.79 3.48 3.38 3.74 5.07 4.92 5.97 4.80 5.66 7.37 9.07 9.49 8.58 8.02 11.19 10.54 10.53 17.80 18.04 16.29
Vertex Pharmaceuticals Inc. 6.66 9.42 10.23 10.23 9.57 9.09 9.36 10.68 14.56 16.73 16.56 20.14 21.11 23.25 19.64 18.42 18.42 24.79 21.23 22.38 33.24 38.35 31.53
Zoetis Inc. 25.71 21.68 25.42 21.53 24.00 21.31 18.74 21.38 22.36 19.72 21.52 16.49 17.11 17.96 17.46 15.25 18.64 20.16 19.72 18.42 20.48 17.82

Based on: 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-31), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-19), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-02-19), 10-Q (filing date: 2018-11-06), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-20), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-05-01), 10-K (filing date: 2017-02-21), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-29), 10-K (filing date: 2016-02-19), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30).

1 Data adjusted for splits and stock dividends.

2 Q3 2020 Calculation
BVPS = Total Eli Lilly and Company shareholders’ equity ÷ No. shares of common stock outstanding
= 4,826,900,000 ÷ 956,581,598 = 5.05

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

4 Q3 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 131.31 ÷ 5.05 = 26.02

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Eli Lilly & Co.’s P/BV ratio decreased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.