Comprehensive Stock Comparison
Compare Pfizer Inc. (PFE) vs Eli Lilly and Company (LLY) vs Johnson & Johnson (JNJ) 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 PFE's -1.6% |
| Value | PFE | Lower P/E (9.4x vs 21.5x) |
| Quality / Margins | LLY | 31.0% net margin vs PFE's 12.4% |
| Stability / Safety | JNJ | Beta 0.06 vs LLY's 0.65, lower leverage |
| Dividends | JNJ | 2.0% yield, 36-year raise streak, vs LLY's 0.5% |
| Momentum (1Y) | JNJ | +53.7% vs PFE's +11.1% |
| Efficiency (ROA) | LLY | 16.0% ROA vs JNJ's 13.0%, ROIC 33.7% vs 20.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Pfizer is a global biopharmaceutical company that discovers, develops, and commercializes innovative medicines and vaccines across multiple therapeutic areas. It generates revenue primarily from pharmaceutical product sales — including blockbuster drugs like Eliquis, Prevnar, and Comirnaty — with vaccines contributing roughly 25% of total revenue. The company's competitive advantage lies in its massive R&D scale, extensive global manufacturing capabilities, and deep expertise in developing complex biologics and vaccines.
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.
Johnson & Johnson is a global healthcare company focused on innovative medicines and medical technology. It generates revenue primarily from its Innovative Medicine segment — prescription drugs for complex diseases like cancer and autoimmune disorders — and its MedTech segment — medical devices including orthopedics, surgery tools, and contact lenses. The company's competitive advantage lies in its massive R&D scale, deep scientific expertise, and diversified portfolio of patented pharmaceuticals and medical devices.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 3 stocks. BestLagging
Financial Scorecard
LLY leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). JNJ leads in 2 (Risk & Volatility, Analyst Outlook).
Financial Metrics (TTM)
JNJ is the larger business by revenue, generating $92.1B annually — 1.6x LLY's $59.4B. LLY is the more profitable business, keeping 31.0% of every revenue dollar as net income compared to PFE's 12.4%. On growth, LLY holds the edge at +53.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| RevenueTrailing 12 months | $62.6B | $59.4B | $92.1B |
| EBITDAEarnings before interest/tax | $15.7B | $28.6B | $31.4B |
| Net IncomeAfter-tax profit | $7.8B | $18.4B | $25.1B |
| Free Cash FlowCash after capex | $4.6B | $9.0B | $19.1B |
| Gross MarginGross profit ÷ Revenue | +70.3% | +83.0% | +68.1% |
| Operating MarginEBIT ÷ Revenue | +24.7% | +45.0% | +26.1% |
| Net MarginNet income ÷ Revenue | +12.4% | +31.0% | +27.3% |
| FCF MarginFCF ÷ Revenue | +7.3% | +15.2% | +20.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.2% | +53.9% | +6.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -5.0% | +4.8% | +91.0% |
Valuation Metrics
At 20.3x trailing earnings, PFE trades at a 77% valuation discount to LLY's 89.9x P/E. Adjusting for growth (PEG ratio), LLY offers better value at 14.62x vs JNJ's 38.22x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| Market CapShares × price | $157.2B | $941.7B | $598.7B |
| Enterprise ValueMkt cap + debt − cash | $157.2B | $972.1B | $611.2B |
| Trailing P/EPrice ÷ TTM EPS | 20.33x | 89.85x | 42.91x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.35x | 30.86x | 21.48x |
| PEG RatioP/E ÷ EPS growth rate | — | 14.62x | 38.22x |
| EV / EBITDAEnterprise value multiple | 7.73x | 50.45x | 20.73x |
| Price / SalesMarket cap ÷ Revenue | 2.51x | 20.91x | 6.74x |
| Price / BookPrice ÷ Book value/share | 1.69x | 66.65x | 8.44x |
| Price / FCFMarket cap ÷ FCF | — | 2273.08x | 30.17x |
Profitability & Efficiency
LLY delivers a 77.2% return on equity — every $100 of shareholder capital generates $77 in annual profit, vs $8 for PFE. JNJ carries lower financial leverage with a 0.51x 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 PFE's 2/9, reflecting solid financial health.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| ROE (TTM)Return on equity | +8.3% | +77.2% | +31.7% |
| ROA (TTM)Return on assets | — | +16.0% | +13.0% |
| ROICReturn on invested capital | +9.4% | +33.7% | +20.7% |
| ROCEReturn on capital employed | — | +40.2% | +17.6% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 6 | 5 |
| Debt / EquityFinancial leverage | — | 2.36x | 0.51x |
| Net DebtTotal debt minus cash | $0 | $30.4B | $12.5B |
| Cash & Equiv.Liquid assets | — | $3.3B | $24.1B |
| Total DebtShort + long-term debt | $0 | $33.6B | $36.6B |
| Interest CoverageEBIT ÷ Interest expense | 3.82x | 26.09x | 48.23x |
Total Returns (with DRIP)
A $10,000 investment in LLY five years ago would be worth $52,120 today (with dividends reinvested), compared to $10,653 for PFE. Over the past 12 months, JNJ leads with a +53.7% total return vs PFE's +11.1%. The 3-year compound annual growth rate (CAGR) favors LLY at 50.9% vs PFE's -6.9% — a key indicator of consistent wealth creation.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| YTD ReturnYear-to-date | +11.5% | -2.4% | +20.4% |
| 1-Year ReturnPast 12 months | +11.1% | +15.0% | +53.7% |
| 3-Year ReturnCumulative with dividends | -19.4% | +243.3% | +71.8% |
| 5-Year ReturnCumulative with dividends | +6.5% | +421.2% | +70.8% |
| 10-Year ReturnCumulative with dividends | +51.9% | +1411.6% | +175.7% |
| CAGR (3Y)Annualised 3-year return | -6.9% | +50.9% | +19.8% |
Risk & Volatility
JNJ is the less volatile stock with a 0.06 beta — it tends to amplify market swings less than LLY's 0.65 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JNJ currently trades 99.8% from its 52-week high vs LLY's 92.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.50x | 0.65x | 0.06x |
| 52-Week HighHighest price in past year | $27.94 | $1133.95 | $248.93 |
| 52-Week LowLowest price in past year | $20.92 | $623.78 | $141.50 |
| % of 52W HighCurrent price vs 52-week peak | +99.0% | +92.8% | +99.8% |
| RSI (14)Momentum oscillator 0–100 | 54.7 | 46.9 | 66.2 |
| Avg Volume (50D)Average daily shares traded | 40.1M | 2.6M | 7.1M |
Analyst Outlook
Analyst consensus: PFE as "Hold", LLY as "Buy", JNJ as "Buy". Consensus price targets imply 15.4% upside for LLY (target: $1214) vs -7.7% for JNJ (target: $229). For income investors, JNJ offers the higher dividend yield at 1.96% vs LLY's 0.49%.
| Metric | PFEPfizer Inc. | LLYEli Lilly and Com… | JNJJohnson & Johnson |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Buy |
| Price TargetConsensus 12-month target | $27.36 | $1214.28 | $229.33 |
| # AnalystsCovering analysts | 37 | 44 | 39 |
| Dividend YieldAnnual dividend ÷ price | — | +0.5% | +2.0% |
| Dividend StreakConsecutive years of raises | 14 | 10 | 36 |
| Dividend / ShareAnnual DPS | — | $5.18 | $4.87 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.3% | +0.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Pfizer Inc. (PFE) | 100 | 80.64 | -19.4% |
| Eli Lilly and Compa… (LLY) | 100 | 786.01 | +686.0% |
| Johnson & Johnson (JNJ) | 100 | 164.8 | +64.8% |
Eli Lilly and Compa… (LLY) returned +421% over 5 years vs Pfizer Inc. (PFE)'s +7%. A $10,000 investment in LLY 5 years ago would be worth $52,120 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Pfizer Inc. (PFE) | $52.8B | $62.6B | +18.5% |
| Eli Lilly and Compa… (LLY) | $21.2B | $45.0B | +112.2% |
| Johnson & Johnson (JNJ) | $71.9B | $88.8B | +23.6% |
Pfizer Inc.'s revenue grew from $52.8B (2016) to $62.6B (2025) — a 1.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Pfizer Inc. (PFE) | 13.7% | 12.4% | -9.1% |
| Eli Lilly and Compa… (LLY) | 12.9% | 23.5% | +82.3% |
| Johnson & Johnson (JNJ) | 23.0% | 15.8% | -31.2% |
Pfizer Inc.'s net margin went from 14% (2016) to 12% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Pfizer Inc. (PFE) | 9.8 | 18.3 | +86.7% |
| Eli Lilly and Compa… (LLY) | 37 | 65.9 | +78.1% |
| Johnson & Johnson (JNJ) | 297.3 | 25 | -91.6% |
Pfizer Inc. has traded in a 9x–78x P/E range over 9 years; current trailing P/E is ~20x. Eli Lilly and Company has traded in a 15x–101x P/E range over 7 years; current trailing P/E is ~90x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Pfizer Inc. (PFE) | 1.17 | 1.36 | +16.2% |
| Eli Lilly and Compa… (LLY) | 2.49 | 11.71 | +370.3% |
| Johnson & Johnson (JNJ) | 5.93 | 5.79 | -2.4% |
Pfizer Inc.'s EPS grew from $1.17 (2016) to $1.36 (2025) — a 2% CAGR.
Chart 6Free Cash Flow — 5 Years
Pfizer Inc. generated $0M FCF in 2025 (-100% vs 2021). Eli Lilly and Company generated $414M FCF in 2024 (-92% vs 2021).
PFE vs LLY vs JNJ: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is PFE or LLY or JNJ a better buy right now?
Pfizer Inc. (PFE) offers the better valuation at 20.3x trailing P/E (9.4x forward), making it the more compelling value choice. Analysts rate Eli Lilly and Company (LLY) a "Buy" — based on 44 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 has the better valuation — PFE or LLY or JNJ?
On trailing P/E, Pfizer Inc. (PFE) is the cheapest at 20.3x versus Eli Lilly and Company at 89.9x. On forward P/E, Pfizer Inc. is actually cheaper at 9.4x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Eli Lilly and Company wins at 5.02x versus Johnson & Johnson's 38.22x.
03Which is the better long-term investment — PFE or LLY or JNJ?
Over the past 5 years, Eli Lilly and Company (LLY) delivered a total return of +421.2%, compared to +6.5% for Pfizer Inc. (PFE). A $10,000 investment in LLY five years ago would be worth approximately $52K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LLY returned +1412% versus PFE's +51.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PFE or LLY or JNJ?
By beta (market sensitivity over 5 years), Johnson & Johnson (JNJ) is the lower-risk stock at 0.06β versus Eli Lilly and Company's 0.65β — meaning LLY is approximately 1071% more volatile than JNJ relative to the S&P 500. On balance sheet safety, Johnson & Johnson (JNJ) carries a lower debt/equity ratio of 51% versus 2% for Eli Lilly and Company — giving it more financial flexibility in a downturn.
05Which has better profit margins — PFE or LLY or JNJ?
Eli Lilly and Company (LLY) is the more profitable company, earning 23.5% net margin versus 12.4% for Pfizer Inc. — 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 24.7% for PFE. 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.
06Is PFE or LLY or JNJ more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Eli Lilly and Company (LLY) is the more undervalued stock at a PEG of 5.02x versus Johnson & Johnson's 38.22x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Pfizer Inc. (PFE) trades at 9.4x forward P/E versus 30.9x for Eli Lilly and Company — 21.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LLY: 15.4% to $1214.28.
07Which pays a better dividend — PFE or LLY or JNJ?
In this comparison, JNJ (2.0% yield), LLY (0.5% yield) pay a dividend. PFE does not pay a meaningful dividend and should not be held primarily for income.
08Is PFE or LLY or JNJ better for a retirement portfolio?
For long-horizon retirement investors, Johnson & Johnson (JNJ) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.06), 2.0% yield, +175.7% 10Y return). Both have compounded well over 10 years (JNJ: +175.7%, PFE: +51.9%), 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.
09What are the main differences between PFE and LLY and JNJ?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. JNJ pays a dividend while PFE, LLY do 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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