Eli Lilly vs Pfizer
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The short version
- Eli Lilly is the larger business, with $65.2B of revenue in fiscal 2025 against $62.6B for Pfizer.
- Eli Lilly grew revenue faster (44.7%, against −1.7%).
- Pfizer turned more of its sales into free cash flow (14.5% FCF margin, against 13.8%).
- Eli Lilly earned a higher return on the capital invested in it (40.8%, against 7.3%).
- Investors pay more for each dollar of Eli Lilly’s earnings: a P/E of 42.7x against 39.5x for Pfizer.
| Latest fiscal year | LLY · FY25 | PFE · FY25 |
|---|---|---|
| Size | ||
| Market cap | $1.14T | $171.1B |
| Revenue | $65.2B | $62.6B |
| Free cash flow | $9.0B | $9.1B |
| Net income | $20.6B | $7.8B |
| Growth | ||
| Revenue growth | 44.7% | −1.7% |
| 5-year growth | 21.6% | 8.5% |
| Share count change | −0.5% | 0.2% |
| Profitability | ||
| Gross margin | 83.0% | 74.3% |
| Operating margin | — | — |
| Net margin | 31.7% | 12.4% |
| FCF margin | 13.8% | 14.5% |
| Return on capital | 40.8% | 7.3% |
| Return on equity | 101.2% | 8.9% |
| Balance sheet | ||
| Net debt | $33.6B | $54.3B |
| Net debt / EBITDA | 1.2x | 3.2x |
| Dividends and buybacks | $9.5B | $9.8B |
| Valuation & quality | ||
| P/E | 42.7x | 39.5x |
| Piotroski F-score | 8 | 6 |
FY16
LLY $21.2B
PFE $52.8B
FY17
LLY $20.0B
PFE $52.5B
FY18
LLY $21.5B
PFE $40.8B
FY19
LLY $22.3B
PFE $40.9B
FY20
LLY $24.5B
PFE $41.7B
FY21
LLY $28.3B
PFE $81.3B
FY22
LLY $28.5B
PFE $101.2B
FY23
LLY $34.1B
PFE $59.6B
FY24
LLY $45.0B
PFE $63.6B
FY25
LLY $65.2B
PFE $62.6B
LLY
PFE
FY16
LLY —
PFE —
FY17
LLY —
PFE —
FY18
LLY —
PFE —
FY19
LLY —
PFE —
FY20
LLY —
PFE —
FY21
LLY —
PFE —
FY22
LLY —
PFE —
FY23
LLY —
PFE —
FY24
LLY —
PFE —
FY25
LLY —
PFE —
LLY
PFE
FY16
LLY $3.8B
PFE $14.4B
FY17
LLY $4.5B
PFE $14.8B
FY18
LLY $4.3B
PFE $13.8B
FY19
LLY $3.8B
PFE $10.5B
FY20
LLY $5.1B
PFE $12.2B
FY21
LLY $6.1B
PFE $29.9B
FY22
LLY $5.7B
PFE $26.0B
FY23
LLY $792M
PFE $4.8B
FY24
LLY $3.8B
PFE $9.8B
FY25
LLY $9.0B
PFE $9.1B
LLY
PFE
FY16
LLY 15.8%
PFE 11.0%
FY17
LLY 7.3%
PFE 15.6%
FY18
LLY 22.8%
PFE 5.4%
FY19
LLY 34.9%
PFE 12.8%
FY20
LLY 38.4%
PFE 9.9%
FY21
LLY 29.1%
PFE 32.0%
FY22
LLY 28.0%
PFE 32.0%
FY23
LLY 19.4%
PFE 2.5%
FY24
LLY 28.9%
PFE 7.6%
FY25
LLY 40.8%
PFE 7.3%
LLY
PFE
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.