Elanco Animal Health Incorporated (ELAN) Financial Ratios
10 years of historical data (2016–2025) · Healthcare · Drug Manufacturers - Specialty & Generic
EV/EBITDA
↓
17.74
↑+29% vs avg
5yr avg: 13.80
30Y Low10.7·High43.6
P/FCF
↓
46.00
↑+22% vs avg
5yr avg: 37.63
30Y Low15.3·High62.7
P/B Ratio
↓
1.98
↑+52% vs avg
5yr avg: 1.31
30Y Low0.8·High2.0
ROE
↑
-3.7%
↓+22% vs avg
5yr avg: -4.7%
30Y Low-18%·High5%
Debt/EBITDA
↓
4.31
↓-18% vs avg
5yr avg: 5.27
30Y Low3.4·High13.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ELAN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Elanco Animal Health Incorporated currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 46.0x P/FCF, 22% above the 5-year average of 37.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.1B | $11.2B | $6.0B | $7.3B | $6.0B | $13.8B | $13.5B | $10.9B | $9.9B | — | — |
| Enterprise Value | $16.5B | $14.7B | $9.9B | $12.8B | $11.5B | $19.5B | $19.2B | $12.9B | $11.9B | — | — |
| P/E Ratio → | -55.66 | — | 17.81 | — | — | — | — | 163.61 | 112.61 | — | — |
| P/S Ratio | 2.77 | 2.38 | 1.36 | 1.66 | 1.35 | 2.90 | 4.14 | 3.55 | 3.23 | — | — |
| P/B Ratio | 1.98 | 1.72 | 0.99 | 1.18 | 0.82 | 1.84 | 1.60 | 1.97 | 1.90 | — | — |
| P/FCF | 46.00 | 39.55 | 15.29 | 62.69 | 22.27 | 48.35 | — | 408.44 | 28.04 | — | — |
| P/OCF | 23.33 | 20.06 | 11.13 | 27.07 | 13.20 | 28.63 | — | 48.66 | 20.30 | — | — |
P/E links to full P/E history page with 30-year chart
ELAN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Elanco Animal Health Incorporated's enterprise value stands at 17.7x EBITDA, 29% above its 5-year average of 13.8x. The Healthcare sector median is 14.1x, placing the stock at a 25% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.12 | 2.22 | 2.89 | 2.60 | 4.09 | 5.86 | 4.21 | 3.88 | — | — |
| EV / EBITDA | 17.74 | 15.78 | 10.82 | 12.51 | 10.75 | 19.13 | 43.56 | 18.88 | 19.50 | — | — |
| EV / EBIT | 65.62 | — | 11.94 | — | 62.27 | — | — | 82.28 | 82.73 | — | — |
| EV / FCF | — | 51.78 | 25.06 | 109.04 | 42.75 | 68.21 | — | 484.13 | 33.70 | — | — |
ELAN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Elanco Animal Health Incorporated earns an operating margin of 5.3%. Operating margins have compressed from 7.4% to 5.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -3.7% indicates the company is currently destroying shareholder equity. ROIC of 1.9% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 43.5% | 43.5% | 43.0% | 43.9% | 44.7% | 43.6% | 38.1% | 45.6% | 42.2% | 40.6% | 45.8% |
| Operating Margin | 5.3% | 5.3% | 5.7% | 7.4% | 8.7% | 6.4% | -2.3% | 12.0% | 10.2% | 4.9% | 9.7% |
| Net Profit Margin | -4.9% | -4.9% | 7.6% | -27.9% | -1.8% | -10.1% | -17.1% | 2.2% | 2.8% | -10.8% | -1.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.7% | -3.7% | 5.5% | -18.2% | -1.1% | -6.0% | -8.0% | 1.3% | 1.3% | -4.2% | -0.7% |
| ROA | -1.8% | -1.8% | 2.5% | -8.2% | -0.5% | -2.8% | -4.2% | 0.8% | 1.0% | -3.6% | -0.6% |
| ROIC | 1.9% | 1.9% | 1.7% | 2.0% | 2.2% | 1.7% | -0.5% | 3.8% | 3.2% | 1.5% | 3.1% |
| ROCE | 2.2% | 2.2% | 2.1% | 2.4% | 2.7% | 2.0% | -0.6% | 4.6% | 3.9% | 1.8% | 3.8% |
ELAN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Elanco Animal Health Incorporated carries a Debt/EBITDA ratio of 4.3x, which is highly leveraged (33% above the sector average of 3.3x). Net debt stands at $3.5B ($4.0B total debt minus $545M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.61 | 0.61 | 0.71 | 0.93 | 0.80 | 0.84 | 0.72 | 0.42 | 0.48 | — | — |
| Debt / EBITDA | 4.31 | 4.31 | 4.73 | 5.66 | 5.47 | 6.20 | 13.92 | 3.44 | 4.05 | — | — |
| Net Debt / Equity | — | 0.53 | 0.63 | 0.87 | 0.75 | 0.76 | 0.66 | 0.36 | 0.38 | -0.04 | -0.04 |
| Net Debt / EBITDA | 3.73 | 3.73 | 4.22 | 5.32 | 5.15 | 5.57 | 12.80 | 2.95 | 3.28 | -0.70 | -0.48 |
| Debt / FCF | — | 12.23 | 9.78 | 46.34 | 20.49 | 19.86 | — | 75.69 | 5.66 | -4.30 | -5.68 |
| Interest Coverage | -0.02 | -0.02 | 2.44 | -3.31 | 0.72 | -1.16 | -3.31 | 1.99 | 4.85 | — | — |
ELAN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Elanco Animal Health Incorporated's current ratio of 2.17x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.08x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 2.75x to 2.17x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.17 | 2.17 | 2.44 | 2.75 | 1.93 | 1.99 | 1.65 | 2.90 | 2.58 | 3.36 | 3.15 |
| Quick Ratio | 1.08 | 1.08 | 1.25 | 1.35 | 1.02 | 1.16 | 0.89 | 1.62 | 1.55 | 1.68 | 1.73 |
| Cash Ratio | 0.34 | 0.34 | 0.36 | 0.28 | 0.20 | 0.39 | 0.24 | 0.41 | 0.49 | 0.51 | 0.42 |
| Asset Turnover | — | 0.35 | 0.35 | 0.31 | 0.28 | 0.29 | 0.19 | 0.34 | 0.34 | 0.32 | 0.36 |
| Inventory Turnover | 1.53 | 1.53 | 1.61 | 1.43 | 1.59 | 1.96 | 1.28 | 1.59 | 1.76 | 1.61 | 1.80 |
| Days Sales Outstanding | — | 72.77 | 72.85 | 83.46 | 82.91 | 78.76 | 120.09 | 105.77 | 84.43 | 76.04 | 79.01 |
ELAN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Elanco Animal Health Incorporated does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 5.6% | — | — | — | — | 0.6% | 0.9% | — | — |
| FCF Yield | 2.2% | 2.5% | 6.5% | 1.6% | 4.5% | 2.1% | — | 0.2% | 3.6% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $496M | $497M | $492M | $488M | $487M | $441M | $370M | $314M | $356M | $356M |
Peer Comparison
Compare ELAN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ELANYou | $13B | -55.7 | 17.7 | 46.0 | 43.5% | 5.3% | -3.7% | 1.9% | 4.3 |
 ZTS | $47B | 18.5 | 13.3 | 20.6 | 70.5% | 38.0% | 66.0% | 26.9% | 2.3 |
 PCRX | $932M | 148.1 | 9.9 | 6.8 | 79.4% | 4.6% | 1.0% | 2.3% | 3.7 |
 PAHC | $2B | 49.3 | 19.7 | 56.8 | 30.9% | 8.5% | 17.8% | 9.8% | 4.9 |
 NEOG | $2B | -1.8 | 20.6 | — | 47.1% | 1.1% | -41.9% | 0.2% | 6.8 |
 PETS | $49M | -7.7 | -0.9 | — | 30.5% | -0.7% | -6.9% | -3.1% | 0.2 |
 CHWY | $10B | 27.0 | 44.5 | 22.5 | 29.2% | 0.9% | 101.8% | 28.0% | 2.2 |
 ANIP | $2B | 25.3 | 9.0 | 9.6 | — | 12.6% | 16.2% | 11.2% | 1.6 |
 LLY | $933B | 43.0 | 31.0 | 104.0 | 83.8% | 45.6% | 101.2% | 41.8% | 1.4 |
 PFE | $151B | 19.5 | 10.7 | 16.6 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
 MRK | $280B | 15.6 | 10.8 | 22.7 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonELAN — Frequently Asked Questions
Quick answers to the most common questions about buying ELAN stock.
What is Elanco Animal Health Incorporated's P/E ratio?
Elanco Animal Health Incorporated's current P/E ratio is -55.7x. The historical average is 98.0x.
What is Elanco Animal Health Incorporated's EV/EBITDA?
Elanco Animal Health Incorporated's current EV/EBITDA is 17.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.9x.
What is Elanco Animal Health Incorporated's ROE?
Elanco Animal Health Incorporated's return on equity (ROE) is -3.7%. The historical average is -3.4%.
Is ELAN stock overvalued?
Based on historical data, Elanco Animal Health Incorporated is trading at a P/E of -55.7x. Compare with industry peers and growth rates for a complete picture.
What are Elanco Animal Health Incorporated's profit margins?
Elanco Animal Health Incorporated has 43.5% gross margin and 5.3% operating margin.
How much debt does Elanco Animal Health Incorporated have?
Elanco Animal Health Incorporated's Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.