Eli Lilly and Company (NYSE: LLY) closed at $1,131.42 on June 7, 2026, giving the Indianapolis-based drug manufacturer a market capitalization of approximately $1.07 trillion, according to Financial Modeling Prep data sourced from NYSE consolidated tape. The stock sits near the upper bound of its 52-week range of $623.78 to $1,166.29, a band that reflects sustained investor repricing tied to the company’s GLP-1 franchise (tirzepatide, marketed as Mounjaro and Zepbound). With a beta of 0.517, LLY exhibits roughly half the volatility of the broader S&P 500, an unusual profile for a stock that has more than doubled in 24 months.

Company Snapshot

Eli Lilly operates within the Healthcare sector, specifically the Drug Manufacturers – General industry, and employs 47,000 people globally as of the latest company disclosure. Founded in 1876 and publicly traded since June 1972, Lilly is led by CEO David A. Ricks, who has held the role since January 2017. The company’s revenue base spans four therapeutic categories: diabetes and obesity (insulin franchises plus the incretin portfolio anchored by Mounjaro, Trulicity, and Jardiance via its Boehringer Ingelheim collaboration), oncology (Verzenio, Alimta, Cyramza, Retevmo, Erbitux, Tyvyt), immunology (Taltz, Olumiant), and neuroscience (Emgality, Cymbalta, Zyprexa, and the Alzheimer’s asset donanemab).

Geographic exposure remains weighted toward the United States, which historically contributes the majority of revenue per Lilly’s 10-K disclosures, with Europe, Japan, and China representing the principal ex-U.S. markets. The product mix has shifted materially since 2022 as Mounjaro and Zepbound moved from launch phase to dominant revenue contributors, reducing the relative weight of legacy diabetes products and the mature neuroscience portfolio. Manufacturing capital expenditure has expanded accordingly, with announced facility investments in Indiana, North Carolina, and Ireland aimed at relieving incretin supply constraints that the U.S. Food and Drug Administration tracked on its drug shortage list through portions of 2024.

The collaboration roster, including Incyte, AbCellera Biologics, Junshi Biosciences, Regor Therapeutics, Lycia Therapeutics, Kumquat Biosciences, Entos Pharmaceuticals, and Foghorn Therapeutics, points to a pipeline strategy that combines internal discovery with external biology sourcing. This is consistent with peer behavior at Merck and Pfizer, where licensing has supplemented organic R&D as patent cliffs approach.

Recent Financial Performance

Lilly’s recent reporting periods, per the company’s 10-K and quarterly 10-Q filings with the SEC, show revenue growth driven primarily by the incretin franchise. Mounjaro and Zepbound revenue trajectories disclosed in 2024 and 2025 earnings releases moved Lilly from a mid-single-digit growth profile in the 2020-2022 window into a high-double-digit growth profile in 2023-2025, with consolidated revenue growth exceeding 30% year-over-year in several recent quarters as reported via Bloomberg’s transcript service.

Gross margin has remained in the high-70s to low-80s range typical of large-cap branded pharmaceuticals, though management commentary on Q4 2024 and Q1 2025 calls flagged near-term margin pressure from rapid manufacturing scale-up costs and inventory build for incretin products. Operating margin compression in this build-out phase is offset, in the company’s framing, by long-duration capacity that supports both obesity and adjacent indications, including the sleep apnea label expansion for Zepbound granted by the FDA in December 2024.

Cash flow from operations has supported both the capital expenditure program and the dividend, which Lilly has raised in successive years. Free cash flow conversion, however, has been pressured by the magnitude of capacity investment, with management guiding to multi-year capex elevated relative to historical norms. The balance sheet has carried incremental debt to fund the Indianapolis-area expansion and the Lebanon, Indiana site, though net leverage remains conservative for a company of this scale and cash generation profile.

EPS has tracked revenue growth with operating leverage, though one-time items related to acquired in-process R&D charges from bolt-on transactions have created non-cash volatility in reported figures. Advisors evaluating earnings quality should distinguish between GAAP EPS, which absorbs IPR&D, and the non-GAAP figure that Lilly reports, which excludes those charges and is the basis for consensus comparisons tracked by FactSet and Refinitiv.