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Eli Lilly & Co. (LLY)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Difficulty: Beginner

  • Annual Data
  • Quarterly Data

    • Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

    Historical Valuation Ratios (Summary)

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

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    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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
    Price to earnings (P/E) 79.88 – 41.51 37.39 41.29 32.39 33.66 37.12 35.95 33.35 38.32 45.51 36.38 33.06 27.11 20.88 17.08 13.88 – – –
    Price to operating profit (P/OP) 25.86 39.61 33.07 29.23 32.37 25.63 27.59 30.51 28.95 29.86 33.90 41.35 33.94 29.71 22.90 17.00 13.80 12.11 – – –
    Price to sales (P/S) 3.85 3.71 4.11 4.16 4.18 4.18 3.95 4.44 4.13 4.02 4.59 4.78 4.07 4.03 3.59 3.34 2.97 2.81 – – –
    Price to book value (P/BV) 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 5.14 4.13 3.94 3.60 3.69 3.28 3.95 4.25
    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 declined from Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.
    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 Q3 2017 to Q4 2017 but then declined significantly from Q4 2017 to Q1 2018.
    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 declined from Q3 2017 to Q4 2017 but then slightly increased from Q4 2017 to Q1 2018.
    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 increased from Q3 2017 to Q4 2017 but then declined significantly from Q4 2017 to Q1 2018.

    Price to Earnings (P/E)

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

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    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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
    No. shares of common stock outstanding1 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 1,111,103,942 1,113,429,817 1,117,308,330 1,119,451,042 1,119,713,084 1,126,649,615 1,126,637,846 1,126,561,464
    Selected Financial Data (USD $)
    Net income (loss) (in thousands) 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  428,500  500,600  733,500  727,900  727,500  1,203,100  1,206,200  1,548,000 
    Earnings per share (EPS)3 1.04 -0.19 2.02 2.22 1.98 2.48 2.21 2.23 2.10 2.18 2.13 1.86 1.98 2.15 2.42 3.04 3.45 4.18 – – –
    Share price1, 2 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 71.12 65.49 63.39 58.97 58.09 49.21 53.36 56.46
    P/E ratio4 79.88 – 41.51 37.39 41.29 32.39 33.66 37.12 35.95 33.35 38.32 45.51 36.38 33.06 27.11 20.88 17.08 13.88 – – –

    1 Data adjusted for splits and stock dividends.

    2 Close price on the filing date of Eli Lilly & Co.'s Quarterly or Annual Report.

    Q1 2018 Calculations

    3 EPS = (Net income (loss)Q1 2018 + Net income (loss)Q4 2017 + Net income (loss)Q3 2017 + Net income (loss)Q2 2017) ÷ No. shares of common stock outstanding
    = (1,217,400,000 + -1,656,900,000 + 555,600,000 + 1,008,000,000) ÷ 1,085,430,420 = 1.04

    4 P/E ratio = Share price ÷ EPS
    = 82.73 ÷ 1.04 = 79.88

    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 declined from Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.

    Price to Operating Profit (P/OP)

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

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    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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
    No. shares of common stock outstanding1 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 1,111,103,942 1,113,429,817 1,117,308,330 1,119,451,042 1,119,713,084 1,126,649,615 1,126,637,846 1,126,561,464
    Selected Financial Data (USD $)
    Operating income (in thousands) 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  376,400  562,000  886,600  834,800  900,800  1,544,700  1,503,000  1,421,900 
    Operating profit per share3 3.20 1.96 2.54 2.84 2.53 3.13 2.70 2.72 2.61 2.43 2.41 2.04 2.12 2.39 2.86 3.73 4.27 4.80 – – –
    Share price1, 2 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 71.12 65.49 63.39 58.97 58.09 49.21 53.36 56.46
    P/OP ratio4 25.86 39.61 33.07 29.23 32.37 25.63 27.59 30.51 28.95 29.86 33.90 41.35 33.94 29.71 22.90 17.00 13.80 12.11 – – –

    1 Data adjusted for splits and stock dividends.

    2 Close price on the filing date of Eli Lilly & Co.'s Quarterly or Annual Report.

    Q1 2018 Calculations

    3 Operating profit per share = (Operating incomeQ1 2018 + Operating incomeQ4 2017 + Operating incomeQ3 2017 + Operating incomeQ2 2017) ÷ No. shares of common stock outstanding
    = (1,373,500,000 + 229,000,000 + 605,500,000 + 1,264,400,000) ÷ 1,085,430,420 = 3.20

    4 P/OP ratio = Share price ÷ Operating profit per share
    = 82.73 ÷ 3.20 = 25.86

    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 Q3 2017 to Q4 2017 but then declined significantly from Q4 2017 to Q1 2018.

    Price to Sales (P/S)

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

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    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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
    No. shares of common stock outstanding1 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 1,111,103,942 1,113,429,817 1,117,308,330 1,119,451,042 1,119,713,084 1,126,649,615 1,126,637,846 1,126,561,464
    Selected Financial Data (USD $)
    Revenue (in thousands) 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  5,121,300  4,875,600  4,935,600  4,683,100  5,808,800  5,772,600  5,929,700  5,602,000 
    Sales per share3 21.51 20.88 20.41 19.99 19.56 19.23 18.88 18.67 18.28 18.04 17.78 17.70 17.64 17.65 18.23 18.97 19.83 20.64 – – –
    Share price1, 2 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 71.12 65.49 63.39 58.97 58.09 49.21 53.36 56.46
    P/S ratio4 3.85 3.71 4.11 4.16 4.18 4.18 3.95 4.44 4.13 4.02 4.59 4.78 4.07 4.03 3.59 3.34 2.97 2.81 – – –

    1 Data adjusted for splits and stock dividends.

    2 Close price on the filing date of Eli Lilly & Co.'s Quarterly or Annual Report.

    Q1 2018 Calculations

    3 Sales per share = (RevenueQ1 2018 + RevenueQ4 2017 + RevenueQ3 2017 + RevenueQ2 2017) ÷ No. shares of common stock outstanding
    = (5,700,000,000 + 6,160,700,000 + 5,658,000,000 + 5,824,300,000) ÷ 1,085,430,420 = 21.51

    4 P/S ratio = Share price ÷ Sales per share
    = 82.73 ÷ 21.51 = 3.85

    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 declined from Q3 2017 to Q4 2017 but then slightly increased from Q4 2017 to Q1 2018.

    Price to Book Value (P/BV)

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

    Microsoft Excel LibreOffice Calc
    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 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013
    No. shares of common stock outstanding1 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 1,111,103,942 1,113,429,817 1,117,308,330 1,119,451,042 1,119,713,084 1,126,649,615 1,126,637,846 1,126,561,464
    Selected Financial Data (USD $)
    Total Eli Lilly and Company shareholders' equity (in thousands) 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  15,373,200  17,669,300  17,983,700  18,338,100  17,631,400  16,887,100  15,227,400  14,948,600 
    Book value per share (BVPS)3 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 13.84 15.87 16.10 16.38 15.75 14.99 13.52 13.27
    Share price1, 2 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 71.12 65.49 63.39 58.97 58.09 49.21 53.36 56.46
    P/BV ratio4 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 5.14 4.13 3.94 3.60 3.69 3.28 3.95 4.25

    1 Data adjusted for splits and stock dividends.

    2 Close price on the filing date of Eli Lilly & Co.'s Quarterly or Annual Report.

    Q1 2018 Calculations

    3 BVPS = Total Eli Lilly and Company shareholders' equity ÷ No. shares of common stock outstanding
    = 14,527,000,000 ÷ 1,085,430,420 = 13.38

    4 P/BV ratio = Share price ÷ BVPS
    = 82.73 ÷ 13.38 = 6.18

    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 increased from Q3 2017 to Q4 2017 but then declined significantly from Q4 2017 to Q1 2018.