Eli Lilly (LLY) FY2020 results: revenue $24.5 billion, up 9.9% on the year
Eli Lilly & Co. (LLY) reported revenue of $24.5 billion for fiscal 2020, the year ended 31 December 2020, up 9.9% on the year before. Net income was $6.2 billion, down 25.5%, and diluted earnings per share $6.79. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2021.
Revenue
$24.5 billion
+9.9% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$6.2 billion
-25.5% on the year
FY2013FY2020
Diluted EPS
$6.79
-23.6% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
24,540
22,320
21,493
+9.9%
Cost of revenue
5,483
4,721
4,682
+16.1%
Gross profit
19,056
17,598
16,812
+8.3%
Gross margin
77.7%
78.8%
78.2%
Research and development
5,976
5,595
5,051
+6.8%
Selling, general and administrative
6,121
6,214
5,975
-1.5%
Interest expense
360
401
242
-10.2%
Pre-tax income
7,230
5,266
3,680
+37.3%
Income tax
1,036
628
530
+65.0%
Effective tax rate
14.3%
11.9%
14.4%
Net income
6,194
8,318
3,232
-25.5%
Net margin
25.2%
37.3%
15.0%
Diluted EPS
$6.79
$8.89
$3.13
-23.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
6,500
4,837
5,524
+34.4%
Capital expenditure
1,388
1,034
1,211
+34.2%
Free cash flow
5,112
3,803
4,314
+34.4%
Free cash flow margin
20.8%
17.0%
20.1%
Cash from investing
-2,259
-8,083
1,906
Cash from financing
-3,137
-2,324
-5,905
Depreciation and amortisation
1,324
1,233
1,609
+7.4%
Share-based compensation
308
312
280
-1.4%
Buybacks
500
4,400
4,151
-88.6%
Dividends paid
2,687
2,410
2,312
+11.5%
Dividend per share
$3.07
$2.68
$2.33
+14.6%
Diluted shares, weighted
913m
936m
1,034m
-2.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,642
2,607
9,829
+116.4%
Non-controlling interest
184
92.2
1,080
+99.1%
Debt
16,595
15,317
10,299
+8.3%
Operating lease liabilities
n/a
487
0.0
Other liabilities
24,213
20,783
22,701
+16.5%
Total liabilities and equity
46,633
39,286
43,908
+18.7%
Fixed assets
8,682
7,873
7,996
+10.3%
Goodwill
3,766
3,679
1,367
+2.4%
Intangible assets
7,450
6,618
1,068
+12.6%
Investments
2,991
2,063
2,094
+45.0%
Cash and equivalents
3,657
2,338
7,321
+56.5%
Receivables
5,875
4,547
4,594
+29.2%
Inventory
3,980
3,191
3,098
+24.7%
Other assets
10,231
8,977
16,371
+14.0%
Total assets
46,633
39,286
43,908
+18.7%
10-K for the year ended 31 December 2020, filed 17 February 2021: the filing.