Filing Flows › ELI Lilly (LLY) › Q3 2026 › vs Q3 2025
ELI Lilly (LLY) Q3 2026 vs Q3 2025 (year over year)
ELI Lilly's revenue rose $6.8B (+39%) from $17.6B in Q3 2025 to $24.4B in Q3 2026. The biggest changes: Net product revenue +$6.7B (+42%); Other oncology +$152M (+16%); Other immunology +$118M (+26%). Operating margin 34.5% against 41.1% (-6.6 pts).
ELI Lilly, Q3 2026: revenue $24.4B (+39% year over year), operating margin 34.5%, net earnings $6.5B, operating cash flow $11.4B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 34.5% | 41.1% | -6.6 pts |
| Net margin | 26.4% | 31.7% | -5.3 pts |
| Free cash flow margin | 33.7% | 38.3% | -4.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Mounjaro | $10.7B | $6.5B | $4.2B | +65% |
| Zepbound | $5.4B | $3.6B | $1.8B | +49% |
| Jardiance | $1.6B | $959M | $619M | +65% |
| Verzenio | $1.5B | $1.5B | $41.0M | +3% |
| Immunology | $1.4B | $1.4B | $73.0M | +5% |
| Other cardiometabolic health | $1.2B | $1.1B | $143M | +13% |
| Trulicity | $904M | $1.1B | −$148M | -14% |
| Net product revenue | $22.7B | $16.0B | $6.7B | +42% |
| Other oncology | $1.1B | $937M | $152M | +16% |
| Other immunology | $579M | $461M | $118M | +26% |
| Revenue | $24.4B | $17.6B | $6.8B | +39% |
| Operating profit | $8.4B | $7.2B | $1.2B | +16% |
| Costs & expenses | $16.0B | $10.4B | $5.6B | +54% |
| Pre-tax earnings | $8.4B | $7.2B | $1.2B | +16% |
| Cost of revenue | $3.9B | $3.0B | $925M | +31% |
| Research & development | $4.2B | $3.5B | $781M | +23% |
| SG&A | $3.1B | $2.7B | $384M | +14% |
| Other operating costs | $4.7B | $1.2B | $3.5B | +306% |
| Net earnings | $6.5B | $5.6B | $868M | +16% |
| Income tax | $2.0B | $1.6B | $305M | +18% |
| Depreciation & amortization | $545M | $470M | $75.0M | +16% |
| Share-based compensation | $200M | $151M | $49.0M | +32% |
| Working capital & other | $4.2B | $2.6B | $1.6B | +60% |
| Operating cash flow | $11.4B | $8.8B | $2.6B | +29% |
| Free cash flow (OCF − capex) | $8.2B | $6.7B | $1.5B | +22% |
| Capital expenditures | $3.2B | $2.1B | $1.1B | +52% |
Questions
How much did ELI Lilly's revenue grow year over year in Q3 2026?
ELI Lilly's revenue rose $6.8B (+39%) from $17.6B in Q3 2025 to $24.4B in Q3 2026.
What drove ELI Lilly's revenue change in Q3 2026?
Net product revenue +$6.7B (+42%); Other oncology +$152M (+16%); Other immunology +$118M (+26%).