LLY vs MRK
ELI Lilly & Co. and Merck & Co. Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | LLY | MRK |
|---|---|---|
| Revenue | $65.2B | $65.0B |
| Net income | $20.6B | $18.3B |
| Gross margin | 83.0% | 74.8% |
| Net margin | 31.7% | 28.1% |
| Return on equity | 101.2% | 36.9% |
| Diluted EPS | $22.95 | $7.28 |
| Dividend / share | $6.23 | $3.28 |
| Payout ratio | 26.1% | 44.8% |
| Free cash flow | · | $12.4B |
| Equity | $26.5B | $52.6B |
| Net debt / equity | 1.33× | 0.66× |
| Current ratio | 1.58× | 1.54× |
| Revenue CAGR 5y | 21.6% | 9.4% |
| Profit CAGR 5y | 27.2% | 20.9% |
LLY and MRK book revenue within 15% of each other, and keeps more of each dollar of revenue as profit (31.7% against 28.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | LLY | MRK |
|---|---|---|
| FY2025 | $65.2B | $65.0B |
| FY2024 | $45.0B | $64.2B |
| FY2023 | $34.1B | $60.1B |
| FY2022 | $28.5B | $59.3B |
| FY2021 | $28.3B | $48.7B |
| FY2020 | $24.5B | $41.5B |
| FY2019 | $22.3B | $39.1B |
| FY2018 | $21.5B | $42.3B |
| FY2017 | $20.0B | $40.1B |
| FY2016 | $21.2B | $39.8B |
Bottom line
| Fiscal year | LLY | MRK |
|---|---|---|
| FY2025 | $20.6B | $18.3B |
| FY2024 | $10.6B | $17.1B |
| FY2023 | $5.2B | $365.0M |
| FY2022 | $6.2B | $14.5B |
| FY2021 | $5.6B | $13.0B |
| FY2020 | $6.2B | $7.1B |
| FY2019 | $8.3B | $9.8B |
| FY2018 | $3.2B | $6.2B |
| FY2017 | $-204.1M | $2.4B |
| FY2016 | $2.7B | $3.9B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$168,000,000 | LLY |
| FY2024 | −$19,125,000,000 | MRK |
| FY2023 | −$25,991,000,000 | MRK |
| FY2022 | −$30,741,600,000 | MRK |
| FY2021 | −$20,385,600,000 | MRK |
| FY2020 | −$16,978,200,000 | MRK |
| FY2019 | −$16,801,500,000 | MRK |
| FY2018 | −$20,800,700,000 | MRK |
| FY2017 | −$20,148,200,000 | MRK |
| FY2016 | −$18,584,900,000 | MRK |
| FY2015 | −$19,539,300,000 | MRK |
| FY2014 | −$22,621,400,000 | MRK |
| FY2013 | −$20,919,900,000 | MRK |
| FY2012 | −$24,663,600,000 | MRK |
| FY2011 | −$23,760,500,000 | MRK |
| FY2010 | −$22,911,000,000 | MRK |
| FY2009 | −$5,592,000,000 | MRK |
| FY2008 | −$3,478,100,000 | MRK |
| FY2007 | −$5,564,200,000 | MRK |
The higher-revenue side has changed between LLY and MRK over this period. The gap has narrowed since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +3.6 pp | LLY |
| FY2024 | −3.2 pp | MRK |
| FY2023 | +14.7 pp | LLY |
| FY2022 | −2.6 pp | MRK |
| FY2021 | −7.1 pp | MRK |
| FY2020 | +8.2 pp | LLY |
| FY2019 | +12.3 pp | LLY |
| FY2018 | +0.4 pp | LLY |
| FY2017 | −7.0 pp | MRK |
| FY2016 | +3.0 pp | LLY |
| FY2015 | +0.8 pp | LLY |
| FY2014 | −16.1 pp | MRK |
| FY2013 | +10.0 pp | LLY |
| FY2012 | +4.8 pp | LLY |
| FY2011 | +4.6 pp | LLY |
| FY2010 | +19.8 pp | LLY |
| FY2009 | −27.7 pp | MRK |
| FY2008 | −43.4 pp | MRK |
| FY2007 | +1.8 pp | LLY |
The higher net margin has changed hands between LLY and MRK over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MRK's net margin has been more volatile than LLY's over the 19 comparable fiscal years — 11.4 percentage points of standard deviation against 10.1.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between LLY and MRK over these 19 fiscal years — LLY led in 12 and MRK in 7.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LLY's return on equity has been more volatile than MRK's over the 18 comparable fiscal years — 44.6 percentage points of standard deviation against 14.4.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between LLY and MRK over these 18 fiscal years — LLY led in 15 and MRK in 3.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.