Comprehensive Stock Comparison
Compare Adaptive Biotechnologies Corporation (ADPT) vs Eli Lilly and Company (LLY) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth |  LLY | 32.0% revenue growth vs ADPT's 5.1% |
| Quality / Margins | LLY | 31.0% net margin vs ADPT's -31.5% |
| Stability / Safety | LLY | Beta 0.65 vs ADPT's 1.31 |
| Dividends | LLY | 0.5% yield; 10-year raise streak; ADPT pays no meaningful dividend |
| Momentum (1Y) |  ADPT | +104.7% vs LLY's +8.6% |
| Efficiency (ROA) | LLY | 16.0% ROA vs ADPT's -16.2%, ROIC 33.7% vs -41.6% |
Who Each Stock Is For
Income & stability
LLYDividend streak 10 yrs, beta 0.65, yield 0.5%
Growth exposure
LLYRev growth 32.0%, EPS growth 101.9%, 3Y rev CAGR 16.7%
Long-term compounding (10Y)
LLY13.2% 10Y total return vs ADPT's -59.2%
Sleep-well-at-night portfolio
ADPTLower volatility, beta 1.31, Low D/E 44.1%, current ratio 2.89x
Defensive / Recession hedge
LLYBeta 0.65, yield 0.5%, current ratio 1.15x
Business Model
What each company does and how it makes money
Adaptive Biotechnologies is a biotechnology company that develops immune medicine platforms for diagnosing and treating diseases like cancer, autoimmune disorders, and infectious diseases. It generates revenue primarily through its clinical diagnostics segment — including its clonoSEQ test for minimal residual disease monitoring — and its translational and clinical genomics research services, with diagnostics contributing roughly 60% of revenue. The company's key advantage lies in its proprietary immune medicine platform that maps and translates the genetics of the adaptive immune system into clinical diagnostics and therapies.
Eli Lilly is a global pharmaceutical company that discovers, develops, and markets innovative medicines for serious diseases like diabetes, cancer, and autoimmune disorders. It generates revenue primarily from drug sales — with diabetes treatments like Trulicity and Mounjaro contributing over 50% of revenue — and from oncology and immunology products. The company's competitive advantage lies in its deep research and development capabilities, particularly in diabetes and obesity treatments where it has established a strong patent-protected portfolio.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
LLY 4ADPT 1LLY5/6 metricsADPT3/3 metricsLLY6/9 metricsLLY4/6 metricsLLY2/2 metricsLLY leads in 4 of 6 categories (Financial Metrics, Profitability & Efficiency). ADPT leads in 1 (Valuation Metrics).
Financial Metrics (TTM)
LLY is the larger business by revenue, generating $59.4B annually — 235.1x ADPT's $253M. LLY is the more profitable business, keeping 31.0% of every revenue dollar as net income compared to ADPT's -31.5%. On growth, ADPT holds the edge at +102.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| RevenueTrailing 12 months | $253M | $59.4B |
| EBITDAEarnings before interest/tax | -$62M | $28.6B |
| Net IncomeAfter-tax profit | -$80M | $18.4B |
| Free Cash FlowCash after capex | -$63M | $9.0B |
| Gross MarginGross profit ÷ Revenue | +71.8% | +83.0% |
| Operating MarginEBIT ÷ Revenue | -30.9% | +45.0% |
| Net MarginNet income ÷ Revenue | -31.5% | +31.0% |
| FCF MarginFCF ÷ Revenue | -24.9% | +15.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +102.4% | +53.9% |
| EPS Growth (YoY)Latest quarter vs prior year | +126.6% | +4.8% |
Valuation Metrics
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| Market CapShares × price | $2.5B | $898.2B |
| Enterprise ValueMkt cap + debt − cash | $2.5B | $928.6B |
| Trailing P/EPrice ÷ TTM EPS | -15.22x | 85.70x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 29.43x |
| PEG RatioP/E ÷ EPS growth rate | — | 13.94x |
| EV / EBITDAEnterprise value multiple | — | 48.19x |
| Price / SalesMarket cap ÷ Revenue | 14.02x | 19.94x |
| Price / BookPrice ÷ Book value/share | 11.94x | 63.57x |
| Price / FCFMarket cap ÷ FCF | — | 2168.03x |
Profitability & Efficiency
LLY delivers a 77.2% return on equity — every $100 of shareholder capital generates $77 in annual profit, vs $-39 for ADPT. ADPT carries lower financial leverage with a 0.44x debt-to-equity ratio, signaling a more conservative balance sheet compared to LLY's 2.36x. On the Piotroski fundamental quality scale (0–9), LLY scores 6/9 vs ADPT's 4/9, reflecting solid financial health.
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| ROE (TTM)Return on equity | -39.0% | +77.2% |
| ROA (TTM)Return on assets | -16.2% | +16.0% |
| ROICReturn on invested capital | -41.6% | +33.7% |
| ROCEReturn on capital employed | -32.0% | +40.2% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 0.44x | 2.36x |
| Net DebtTotal debt minus cash | $41M | $30.4B |
| Cash & Equiv.Liquid assets | $48M | $3.3B |
| Total DebtShort + long-term debt | $89M | $33.6B |
| Interest CoverageEBIT ÷ Interest expense | -6.25x | 26.09x |
Total Returns (with DRIP)
A $10,000 investment in LLY five years ago would be worth $49,693 today (with dividends reinvested), compared to $3,893 for ADPT. Over the past 12 months, ADPT leads with a +104.7% total return vs LLY's +8.6%. The 3-year compound annual growth rate (CAGR) favors LLY at 47.3% vs ADPT's 24.8% — a key indicator of consistent wealth creation.
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| YTD ReturnYear-to-date | +3.3% | -6.9% |
| 1-Year ReturnPast 12 months | +104.7% | +8.6% |
| 3-Year ReturnCumulative with dividends | +94.3% | +219.8% |
| 5-Year ReturnCumulative with dividends | -61.1% | +396.9% |
| 10-Year ReturnCumulative with dividends | -59.2% | +1316.4% |
| CAGR (3Y)Annualised 3-year return | +24.8% | +47.3% |
Risk & Volatility
LLY is the less volatile stock with a 0.65 beta — it tends to amplify market swings less than ADPT's 1.31 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LLY currently trades 88.5% from its 52-week high vs ADPT's 79.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.31x | 0.65x |
| 52-Week HighHighest price in past year | $20.76 | $1133.95 |
| 52-Week LowLowest price in past year | $6.26 | $623.78 |
| % of 52W HighCurrent price vs 52-week peak | +79.2% | +88.5% |
| RSI (14)Momentum oscillator 0–100 | 46.2 | 44.8 |
| Avg Volume (50D)Average daily shares traded | 1.8M | 3.0M |
Analyst Outlook
Wall Street rates ADPT as "Buy" and LLY as "Buy". Consensus price targets imply 29.3% upside for ADPT (target: $21) vs 21.0% for LLY (target: $1214). LLY is the only dividend payer here at 0.52% yield — a key consideration for income-focused portfolios.
| Metric | ADPTAdaptive Biotechn… | LLYEli Lilly and Com… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $21.25 | $1214.28 |
| # AnalystsCovering analysts | 17 | 44 |
| Dividend YieldAnnual dividend ÷ price | — | +0.5% |
| Dividend StreakConsecutive years of raises | — | 10 |
| Dividend / ShareAnnual DPS | — | $5.18 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.3% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Mar 26 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | 100 | 58.58 | -41.4% |
| Eli Lilly and Compa… (LLY) | 100 | 726.34 | +626.3% |
Eli Lilly and Compa… (LLY) returned +397% over 5 years vs Adaptive Biotechnol… (ADPT)'s -61%. A $10,000 investment in LLY 5 years ago would be worth $49,693 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | $38M | $179M | +365.5% |
| Eli Lilly and Compa… (LLY) | $20.0B | $45.0B | +125.7% |
Eli Lilly and Company's revenue grew from $20.0B (2015) to $45.0B (2024) — a 9.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | -111.4% | -89.1% | +20.0% |
| Eli Lilly and Compa… (LLY) | 12.1% | 23.5% | +94.8% |
Eli Lilly and Company's net margin went from 12% (2015) to 24% (2024).
Chart 4P/E Ratio History — 7 Years
| Stock | 2018 | 2024 | Change |
|---|---|---|---|
| Eli Lilly and Compa… (LLY) | 37 | 65.9 | +78.1% |
Eli Lilly and Company has traded in a 15x–101x P/E range over 7 years; current trailing P/E is ~86x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Adaptive Biotechnol… (ADPT) | -0.41 | -1.08 | -163.4% |
| Eli Lilly and Compa… (LLY) | 2.18 | 11.71 | +437.2% |
Eli Lilly and Company's EPS grew from $2.18 (2015) to $11.71 (2024) — a 21% CAGR.
Chart 6Free Cash Flow — 5 Years
Adaptive Biotechnologies Corporation generated $-99M FCF in 2024 (+61% vs 2021). Eli Lilly and Company generated $414M FCF in 2024 (-92% vs 2021).
ADPT vs LLY: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ADPT or LLY a better buy right now?
Eli Lilly and Company (LLY) offers the better valuation at 85.7x trailing P/E (29.4x forward), making it the more compelling value choice. Analysts rate Adaptive Biotechnologies Corporation (ADPT) a "Buy" — based on 17 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — ADPT or LLY?
Over the past 5 years, Eli Lilly and Company (LLY) delivered a total return of +396.9%, compared to -61.1% for Adaptive Biotechnologies Corporation (ADPT). A $10,000 investment in LLY five years ago would be worth approximately $50K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LLY returned +1316% versus ADPT's -59.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ADPT or LLY?
By beta (market sensitivity over 5 years), Eli Lilly and Company (LLY) is the lower-risk stock at 0.65β versus Adaptive Biotechnologies Corporation's 1.31β — meaning ADPT is approximately 101% more volatile than LLY relative to the S&P 500. On balance sheet safety, Adaptive Biotechnologies Corporation (ADPT) carries a lower debt/equity ratio of 44% versus 2% for Eli Lilly and Company — giving it more financial flexibility in a downturn.
04Which has better profit margins — ADPT or LLY?
Eli Lilly and Company (LLY) is the more profitable company, earning 23.5% net margin versus -89.1% for Adaptive Biotechnologies Corporation — meaning it keeps 23.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LLY leads at 38.9% versus -90.8% for ADPT. At the gross margin level — before operating expenses — LLY leads at 81.3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Is ADPT or LLY more undervalued right now?
Analyst consensus price targets imply the most upside for ADPT: 29.3% to $21.25.
06Which pays a better dividend — ADPT or LLY?
In this comparison, LLY (0.5% yield) pays a dividend. ADPT does not pay a meaningful dividend and should not be held primarily for income.
07Is ADPT or LLY better for a retirement portfolio?
For long-horizon retirement investors, Eli Lilly and Company (LLY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.65), 0.5% yield, +1316% 10Y return). Both have compounded well over 10 years (LLY: +1316%, ADPT: -59.2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between ADPT and LLY?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. LLY pays a dividend while ADPT does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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