Lilly (Eli) (LLY) FY2025 10-K Annual Report
Lilly (Eli) (LLY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Lilly (Eli) FY2025 10-K Analysis
Business Overview
- • Core business: Discovery, development, manufacturing, and marketing of human pharmaceutical products globally
- • New emphasis on LillyDirect digital platform, growing portion of sales in 2025, expanding direct-to-patient access and partnerships
Management Discussion & Analysis
- • Revenue $65.2B in 2025, up 45% YoY from $45.0B in 2024, driven by Mounjaro and Zepbound volume growth
- • Gross margin 83.0% in 2025 vs 81.3% in 2024; net income $20.6B (+95% YoY), EPS $22.95 (+96%)
Risk Factors
- • Government price controls per Inflation Reduction Act causing Medicare drug price reductions for Jardiance (2026) and Trulicity, Verzenio (2028), accelerating revenue erosion
- • U.S. market access risk from CVS Caremark removing preferred coverage for Zepbound on some insurance plans in July 2025
Lilly (Eli) FY2025 Key Financial MetricsXBRL
Revenue
$65.2B
▲ +44.7% YoY
Net Income
$20.6B
▲ +94.9% YoY
Net Margin
31.7%
▲ +816bp YoY
ROE
77.8%
▲ +317bp YoY
Total Assets
$112.5B
▲ +42.9% YoY
EPS (Diluted)
$22.95
▲ +96.0% YoY
Operating Cash Flow
$16.8B
▲ +90.7% YoY
Source: XBRL data from Lilly (Eli) FY2025 10-K filing on SEC EDGAR. All figures in USD.
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