Eli Lilly and (LLY) 10-K Summary — Year Ended Dec 31, 2023
Eli Lilly's 10-K filing describes a pharmaceutical company focused on discovering, developing, and manufacturing medicines. The filing reports a revenue increase and a decline in operating cash flow, with significant capital investments underway.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Eli Lilly's 10-K filing describes a pharmaceutical company focused on discovering, developing, and manufacturing medicines. The filing reports a revenue increase and a decline in operating cash flow, with significant capital investments underway.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$34.1B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$5.2B
Net income reported for the year.
Operating cash flow
$4.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $28.3B | n/a |
| Dec 31, 2022 | $28.5B | +0.8% |
| Dec 31, 2023 | $34.1B | +19.6% |
Business overview
Eli Lilly is a pharmaceutical company that discovers, develops, and manufactures human medicines. The filing does not specify therapeutic areas or product details beyond the general business description.
Financial performance
Revenue increased compared to the prior year, while net income was reported at a level consistent with the revenue growth trend. Operating cash flow decreased, reflecting higher spending on operations and investments.
Material risks
The filing identifies risk factors in Item 1A, but the supplied context does not detail specific risks. The company faces uncertainties common to the pharmaceutical industry, including regulatory, competitive, and operational challenges.
Liquidity and capital
Capital expenditures increased significantly, driven by investments in new manufacturing facilities in the U.S. and Europe. Cash and cash equivalents rose, while operating cash flow declined, indicating reliance on existing cash and external capital to fund expansion.
What to watch
Monitor the trend in operating cash flow, as it declined while capital expenditures rose, which could affect future liquidity.