AstraZeneca vs Eli Lilly
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The short version
- Eli Lilly is the larger business, with $65.2B of revenue in fiscal 2025 against $58.7B for AstraZeneca.
- Eli Lilly grew revenue faster (44.7%, against 8.6%).
- AstraZeneca turned more of its sales into free cash flow (20.0% FCF margin, against 13.8%).
- Eli Lilly earned a higher return on the capital invested in it (40.8%, against 16.8%).
| Latest fiscal year | AZN · FY25 | LLY · FY25 |
|---|---|---|
| Size | ||
| Market cap | $267.9B | $1.14T |
| Revenue | $58.7B | $65.2B |
| Free cash flow | $11.8B | $9.0B |
| Net income | $10.2B | $20.6B |
| Growth | ||
| Revenue growth | 8.6% | 44.7% |
| 5-year growth | 17.2% | 21.6% |
| Share count change | −0.1% | −0.5% |
| Profitability | ||
| Gross margin | 81.9% | 83.0% |
| Operating margin | 23.4% | — |
| Net margin | 17.4% | 31.7% |
| FCF margin | 20.0% | 13.8% |
| Return on capital | 16.8% | 40.8% |
| Return on equity | 22.9% | 101.2% |
| Balance sheet | ||
| Net debt | $22.1B | $33.6B |
| Net debt / EBITDA | — | 1.2x |
| Dividends and buybacks | $5.5B | $9.5B |
| Valuation & quality | ||
| P/E | — | 42.7x |
| Piotroski F-score | 9 | 8 |
FY16
AZN $23.0B
LLY $21.2B
FY17
AZN $22.5B
LLY $20.0B
FY18
AZN $22.1B
LLY $21.5B
FY19
AZN $24.4B
LLY $22.3B
FY20
AZN $26.6B
LLY $24.5B
FY21
AZN $37.4B
LLY $28.3B
FY22
AZN $44.4B
LLY $28.5B
FY23
AZN $45.8B
LLY $34.1B
FY24
AZN $54.1B
LLY $45.0B
FY25
AZN $58.7B
LLY $65.2B
AZN
LLY
FY16
AZN 21.3%
LLY —
FY17
AZN 16.4%
LLY —
FY18
AZN 15.3%
LLY —
FY19
AZN 12.0%
LLY —
FY20
AZN 19.4%
LLY —
FY21
AZN 2.8%
LLY —
FY22
AZN 8.5%
LLY —
FY23
AZN 17.9%
LLY —
FY24
AZN 18.5%
LLY —
FY25
AZN 23.4%
LLY —
AZN
LLY
FY16
AZN $2.7B
LLY $3.8B
FY17
AZN $2.3B
LLY $4.5B
FY18
AZN $1.6B
LLY $4.3B
FY19
AZN $2.0B
LLY $3.8B
FY20
AZN $3.8B
LLY $5.1B
FY21
AZN $4.9B
LLY $6.1B
FY22
AZN $8.7B
LLY $5.7B
FY23
AZN $9.0B
LLY $792M
FY24
AZN $9.9B
LLY $3.8B
FY25
AZN $11.8B
LLY $9.0B
AZN
LLY
FY16
AZN 17.3%
LLY 15.8%
FY17
AZN 12.8%
LLY 7.3%
FY18
AZN 11.8%
LLY 22.8%
FY19
AZN 8.7%
LLY 34.9%
FY20
AZN 15.6%
LLY 38.4%
FY21
AZN 1.9%
LLY 29.1%
FY22
AZN 6.2%
LLY 28.0%
FY23
AZN 11.8%
LLY 19.4%
FY24
AZN 13.0%
LLY 28.9%
FY25
AZN 16.8%
LLY 40.8%
AZN
LLY
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.