Filing Flows › ELI Lilly (LLY) › Q3 2025
ELI Lilly (LLY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 30, 2025
ELI Lilly (LLY) reported revenue of $17.6B for the third quarter 2025 (Q3 2025), +54% from a year earlier and +13% from the quarter before. Operating margin was 41.1%, net earnings $5.6B (31.7% of revenue).
ELI Lilly, Q3 2025: revenue $17.6B (+54% year over year), operating margin 41.1%, net earnings $5.6B, operating cash flow $8.8B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $17.6B | +13% | +54% |
| Operating profit | $7.2B | +7% | +355% |
| Net earnings | $5.6B | -1% | +475% |
| Operating cash flow | $8.8B | +186% | +138% |
| Free cash flow | $6.7B | +385% | +186% |
What changed
Revenue was $17.6B in Q3 2025, up 54% year over year and up 13% from the previous quarter. Mounjaro was the largest line at 37% of revenue. Mounjaro added $3.4B year over year (up 109%), 55% of the total change. Trulicity declined 19%.
Operating profit was $7.2B, a 41.1% margin (up 27.2 points year over year). Of the extra revenue versus a year earlier, 92% reached operating profit, above the 14% margin then. Total costs grew 5% against revenue growth of 54%. The fastest-growing cost line was Cost of revenue (+39%). Net earnings were $5.6B, up 475% year over year. The effective tax rate was 22.8%.
Operating cash flow was $8.8B (up 138% year over year), 158% of net earnings. Non-cash charges added back $0.47B of depreciation and amortization and $0.15B of share-based compensation. Working capital and other items added $2.6B. Capital expenditures of $2.1B left free cash flow of $6.7B.
Questions
What was ELI Lilly's revenue in the third quarter 2025?
ELI Lilly (LLY) reported revenue of $17.6B for the third quarter 2025 (Q3 2025), +54% from a year earlier and +13% from the quarter before.
Was ELI Lilly profitable in the third quarter 2025?
Operating profit was $7.2B (41.1% of revenue) and net earnings $5.6B.
Source: ELI Lilly 10-Q on SEC EDGAR.