Start with its own history
At 45.02×, LLY is 4.1% below its 9-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · LLYDrug Manufacturers - GeneralUpdated Nov 4, 2026
Eli Lilly and Company P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
45.02×
4.1% belowthe 9-observation annual average
Share price1,417.72
÷Earnings per share31.49
Price and EPS in quote currency. Calculation details
Investors are paying 45.02 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 46.97×
3-year average70.74×3 positive annual observations
5-year average63.02×5 positive annual observations
10-year average46.97×9 positive annual observations
Peer median · TTM29.08×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 46.58× | -29.0% |
| Dec 31, 2024 | 65.65× | -34.3% |
| Dec 31, 2023 | 99.99× | +79.6% |
| Dec 31, 2022 | 55.68× | +17.9% |
| Dec 31, 2021 | 47.22× | +80.9% |
| Dec 31, 2020 | 26.10× | +72.5% |
| Dec 31, 2019 | 15.12× | -59.0% |
| Dec 31, 2018 | 36.85× | N/M |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | N/M | N/M |
| Dec 31, 2016 | 29.54× | -23.6% |
| Dec 31, 2015 | 38.65× | +20.5% |
| Dec 31, 2014 | 32.09× | +163.6% |
| Dec 31, 2013 | 12.17× | -11.9% |
| Dec 31, 2012 | 13.82× | +29.6% |
| Dec 31, 2011 | 10.66× | +39.3% |
| Dec 31, 2010 | 7.65× | -15.6% |
| Dec 31, 2009 | 9.06× | N/M |
| Dec 31, 2008 | N/M | N/M |
| Dec 31, 2007 | 19.70× | -7.4% |
| Dec 31, 2006 | 21.27× | -31.6% |
| Dec 31, 2005 | 31.09× | -8.5% |
| Dec 31, 2004 | 33.98× | +15.0% |
| Dec 31, 2003 | 29.55× | +16.8% |
| Dec 31, 2002 | 25.30× | -16.9% |
| Dec 31, 2001 | 30.44× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How LLY compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 LLY This stockEli Lilly and Company | 45.02× |
 NVONovo Nordisk A/S | 10.88× |
 MRKMerck & Co., Inc. | 153.41× |
 JNJJohnson & Johnson | 41.89× |
 AZNAstraZeneca PLC | 26.54× |
 PFEPfizer Inc. | 43.56× |
 RHHBYRoche Holding AG | 25.77× |
 NVSNovartis AG | 31.62× |
 SNYSanofi | 25.72× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does LLY’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 29.08×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take LLY into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("LLY", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 1,417.72 ÷ EPS 31.49 = 45.02×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 4, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
LLY P/E ratio: common questions
The essentials behind the numbers.
Eli Lilly and Company's current P/E is 45.02× based on the quote data last updated Nov 4, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.