Income StatementBalance SheetCash FlowBusiness Segments
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Eli Lilly Cash Flow Statement

Operating, investing, and financing cash movements

Eli Lilly generated $16.8B in operating cash flow over the trailing twelve months. After $7.8B in capital expenditures, free cash flow was $9.0B. Free cash flow increased 1.4% year-over-year. Based on the Q4 2025 filing.

Net Cash From Operating (TTM)$16.8BNet Cash From Investing (TTM)-$11.0BNet Cash From Financing (TTM)-$2.2BCapital Expenditures (TTM)$7.8BDepreciation And Amortization (TTM)$2.0BNet Change In Cash (TTM)$988.2M
Latest FilingQ4 2025
Report Date2026-02-12
Market Cap$784.58B
P/E Ratio38.01
ROE101.36%

Investing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Acquired in-process research and development$2.8B$268.6M$1.8B$153.8M$655.7M$441.5M
Acquisitions, net of cash acquired$236.9M$236.9M$165.3M$165.3M$165.3M$165.3M
Capital expenditures$1.4B$1.5B$1.5B$1.7B$2.1B$2.5B
Net cash from investing activities-$4.0B-$1.9B-$3.4B-$1.8B-$3.0B-$2.8B
Other investing activities$169.8M$158.8M-$39.3M$64.1M$31.0M-$56.8M
Proceeds from maturities/sales of investments$67.9M$55.6M$71.6M$204.3M$556.1M$132.0M
Purchases of investments$275.0M$152.2M$196.7M$171.2M$150.1M$127.0M

Operating

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Change in accounts payable$652.2M$652.2M$2.5B$2.5B$2.5B$2.5B
Change in inventories$626.9M$626.9M$1.2B$1.2B$1.2B$1.2B
Change in other assets$832.8M$832.8M$1.7B$1.7B$1.7B$1.7B
Other working capital changes-$32.1M$542.8M$324.8M$54.4M$302.3M$0.0
Change in receivables$538.8M$538.8M$1.8B$1.8B$1.8B$1.8B
Deferred income taxes$429.8M$966.7M$391.6M$1.1B-$501.4M$748.1M
Depreciation and amortization$466.8M$484.8M$462.8M$478.5M$470.0M$585.7M
Net cash from operating activities$3.7B$2.5B$1.7B$3.1B$8.8B$3.2B
Net income$970.3M$4.4B$2.8B$5.7B$5.6B$6.6B
Stock-based compensation$133.2M$141.9M$153.7M$185.1M$151.1M$136.1M

Financing

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Proceeds from issuance of debt$5.0B$0.0$6.5B$0.0$6.7B$0.0
Repayments of debt$166.1M$166.1M$194.5M$194.5M$194.5M$194.5M
Dividends paid$1.2B$1.2B$1.3B$1.3B$1.3B$1.3B
Net cash from financing activities$211.3M—$1.4B-$1.2B$531.0M-$2.9B
Other financing activities-$47.3M-$45.5M-$686.3M-$30.4M-$30.2M-$25.1M
Repurchases of common stock$446.1M$2.1B$1.2B$692.2M$708.1M$1.5B
Net change in short-term borrowings-$3.1B—-$1.8B$1.6B-$4.1B-$400.0K

Other

MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25
Effect of exchange rate changes on cash$226.9M-$428.5M$131.9M$275.5M$31.7M—
Net increase (decrease) in cash$145.4M—-$175.1M$282.6M$6.4B—

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