Eli Lilly
Eli Lilly returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 39.7% | 43% | 50.61% | 102.44% | 21.97% | 31.8 pp |
| FY 2026 Q1 | Mar 31, 2026 | 42.47% | 45.27% | 78.24% | 107.65% | 24.54% | 34.6 pp |
| FY 2025 Q4 | Dec 31, 2025 | 39.65% | 41.23% | 60.3% | 101.36% | 21.59% | 31.8 pp |
| FY 2025 Q3 | Sep 30, 2025 | 38.28% | 36.71% | 72.59% | 96.82% | 19.33% | 30.4 pp |
| FY 2025 Q2 | Jun 30, 2025 | 29.96% | 32.32% | 43.07% | 86.7% | 15.97% | 22.1 pp |
| FY 2025 Q1 | Mar 31, 2025 | 26.17% | 26.91% | 37.18% | 77.73% | 14.49% | 18.3 pp |
| FY 2024 Q4 | Dec 31, 2024 | 27.65% | 29.64% | 49.31% | 84.84% | 14.84% | 19.8 pp |
| FY 2024 Q3 | Sep 30, 2024 | 23.49% | 23.35% | 27.45% | 65.75% | 12.54% | 15.6 pp |
| FY 2024 Q2 | Jun 30, 2024 | 22.23% | 22.47% | 8.61% | 59.63% | 11.59% | 14.3 pp |
| FY 2024 Q1 | Mar 31, 2024 | 19.17% | 18.12% | 4.39% | 51.15% | 10.48% | 11.3 pp |
| FY 2023 Q4 | Dec 31, 2023 | 17.74% | 18.7% | -16.53% | 48.93% | 9.23% | 9.8 pp |
| FY 2023 Q3 | Sep 30, 2023 | 18.26% | 17.44% | -32.56% | 46.86% | 9.47% | 10.4 pp |
| FY 2023 Q2 | Jun 30, 2023 | 25.4% | 21.18% | -9.2% | 66.27% | 12.76% | 17.5 pp |
| FY 2023 Q1 | Mar 31, 2023 | 22.45% | 17.59% | -41.55% | 55.42% | 11.36% | 14.5 pp |
| FY 2022 Q4 | Dec 31, 2022 | 27.73% | 21.56% | 28.42% | 63.63% | 12.71% | 19.8 pp |
| FY 2022 Q3 | Sep 30, 2022 | 29.71% | 21.74% | 44.73% | 67.69% | 12.62% | 21.8 pp |
| FY 2022 Q2 | Jun 30, 2022 | 31.64% | 23.11% | 58.8% | 75.94% | 12% | 23.7 pp |
| FY 2022 Q1 | Mar 31, 2022 | 31.61% | 22.16% | 63.83% | 75.53% | 13.07% | 23.7 pp |
| FY 2021 Q4 | Dec 31, 2021 | 28.13% | 18.72% | 16.62% | 76.35% | 11.7% | 20.2 pp |
| FY 2021 Q3 | Sep 30, 2021 | 28.61% | 19.35% | 31.42% | 94.92% | 12.96% | 20.7 pp |
| FY 2021 Q2 | Jun 30, 2021 | 26.56% | 18.6% | 7.79% | 115.22% | 13.52% | 18.7 pp |
| FY 2021 Q1 | Mar 31, 2021 | 24.98% | 17.68% | -25.16% | 122.12% | 13.86% | 17.1 pp |
| FY 2020 Q4 | Dec 31, 2020 | 30.14% | 19.65% | 26.22% | 150.18% | 14.42% | 22.2 pp |
| FY 2020 Q3 | Sep 30, 2020 | — | 18.52% | — | 135.76% | 13.62% | — |
| FY 2020 Q2 | Jun 30, 2020 | 28.55% | 19.79% | 42.3% | 163.47% | 13.93% | 20.7 pp |
| FY 2020 Q1 | Mar 31, 2020 | 29.93% | 21.42% | 124.08% | 199.07% | 13.99% | 22 pp |
| FY 2019 Q4 | Dec 31, 2019 | 27.94% | 16.71% | — | 133.78% | 20% | 20 pp |
| FY 2019 Q3 | Sep 30, 2019 | — | 14.88% | — | 96.58% | 19.26% | — |
| FY 2019 Q2 | Jun 30, 2019 | 24.82% | 16.12% | — | 109.42% | 19.36% | 16.9 pp |
| FY 2019 Q1 | Mar 31, 2019 | 12.59% | 10.05% | — | 73.57% | 15.19% | 4.7 pp |
| FY 2018 Q4 | Dec 31, 2018 | 18.39% | 11.91% | — | 30.18% | 7.27% | 10.5 pp |
| FY 2018 Q3 | Sep 30, 2018 | 2.02% | 9.34% | — | 3.22% | 1.03% | -5.9 pp |
| FY 2018 Q2 | Jun 30, 2018 | — | 7.38% | — | -1.12% | -0.35% | — |
| FY 2018 Q1 | Mar 31, 2018 | 4.86% | 11.58% | -70.53% | 7.87% | 2.74% | -3 pp |
| FY 2017 Q4 | Dec 31, 2017 | — | 7.36% | — | -1.59% | -0.49% | — |
| FY 2017 Q3 | Sep 30, 2017 | 9.59% | 9.36% | -8.58% | 14.6% | 5.52% | 1.7 pp |
| FY 2017 Q2 | Jun 30, 2017 | 10.89% | 10.84% | -2.17% | 17.03% | 6.32% | 3 pp |
| FY 2017 Q1 | Mar 31, 2017 | 9.99% | 10.23% | -35.24% | 15.06% | 6.05% | 2.1 pp |
| FY 2016 Q4 | Dec 31, 2016 | 14.5% | 12.54% | 53.8% | 19.16% | 7.36% | 6.6 pp |
| FY 2016 Q3 | Sep 30, 2016 | 11.99% | 10.41% | — | 15.87% | 6.62% | 4.1 pp |
| FY 2016 Q2 | Jun 30, 2016 | 12.27% | 10.74% | — | 16.83% | 6.8% | 4.4 pp |
| FY 2016 Q1 | Mar 31, 2016 | 11.91% | 10.54% | — | 15.5% | 6.59% | 4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 12.07% | 10.09% | — | 16.09% | 6.62% | 4.2 pp |
| FY 2015 Q3 | Sep 30, 2015 | — | — | — | 14.34% | 6.65% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | — | — | 12.61% | 5.8% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | — | — | 13.18% | 6.23% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | — | — | 14.49% | 6.6% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | — | — | — | 7.84% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | — | — | — | 9.94% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | — | — | — | 11.53% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | — | — | 28.92% | 13.45% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | 18.88% | — | — | 14.01% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | 18.27% | — | — | 15.09% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | — | 14.33% | — |
| FY 2012 Q4 | Dec 31, 2012 | 19.06% | 16.66% | — | 28.89% | 12.01% | 11.2 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | — | 12.23% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | — | 12.48% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | — | 13.46% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | 33.49% | 13.45% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | — | 14.8% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | — | 15.62% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | — | 16.56% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | 17.34% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | — | 16.89% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | — | 16.3% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.9%, rounded from the Pharmaceuticals benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · LLY, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.