# Elanco Animal Health Incorporated Common Stock (ELAN) — Stock CV

Elanco Animal Health Incorporated is a $11.4B healthcare company. Revenue grew 12.0% over the last year, it currently loses money, and its net debt equals ~9.2 years of free cash flow.

> Elanco Animal Health is an animal health company that is engaged in developing, manufacturing, and marketing pharma products for companion and food animals.

## Identity

- **Ticker**: ELAN
- **Sector**: Healthcare
- **Industry**: Pharmaceutical Preparations
- **Headquarters**: INDIANAPOLIS, IN
- **Employees**: 9 900
- **Website**: https://www.elanco.com
- **Market cap**: $11.4B
- **Last price**: $22.92
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $5.02B
- **Net income**: -$199M
- **Free cash flow**: $379M
- **Net debt**: $3.47B
- **Revenue growth (YoY)**: 12.0%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 37 |
| Growth | 0 |
| Profitability | 0 |
| Health | 50 |
| Quality | 52 |
| Moat | 38 |

## Qualifications (beginner checklist) — 3 of 9 passed

- [x] Revenue growing — +12.0% YoY
- [ ] Profitable — -$199M TTM
- [ ] Profit growing — -168.6% YoY
- [x] Generates cash — $379M TTM
- [ ] Debt under control — ~9.2y of cash flow to repay
- [x] Established company — $11.4B market cap
- [ ] Not printing shares — +12.5% shares over ~5y
- [ ] Proven track record — 3/8 profitable years
- [ ] Financially stable — Altman Z 1.2 — distress

## Experience (career milestones)

- **Q3 2026** — 2 open-market insider purchases: ~44K shares bought by insiders
- **FY2024** — Best year on record: $338M net income
- **2024** — Elanco launched what it termed its "next generation" of potential blockbusters, including Zenrelia, a…
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **2021** — Elanco announced it had closed its acquisition of Kindred Biosciences
- **2019** — The divestiture was completed and Elanco launched on the New York Stock Exchange
- **FY2018** — First recorded profitable year: $86.5M net income
- **FY2018** — Revenue already above $1B: $3.07B in first reported year
- **2018** — Lilly announced plans to separate its Elanco Animal Health unit from the rest of the business via an…
- **2014** — The business acquired Lohmann SE and Lohmann Animal Health for an undisclosed sum and Novartis Animal…
- **2012** — The business acquired ChemGen Corp
- **2010** — The business acquired the European rights to a portfolio of Pfizer Animal Health treatments and an Irish…
- **2009** — The business launched its data analytics business, Elanco Knowledge Solutions
- **2007** — The business acquired Ivy Animal Health and launched its companion animal business
- **1953** — The company traces its roots back to 1953 when Eli Lilly introduced their first antibiotic aimed at veterinary usage

## Strengths

- High gross margin (55.4%)
- Revenue growing 12.0% year over year

## Watch-outs

- Not profitable — 4.0% net margin
- Altman Z-Score 1.23 — elevated financial-distress risk
- Net debt would take ~9.8 years of free cash flow to repay
- Loss-making in 5 of the recent years
- Net debt equals ~9.2 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $4.76B | -$472M | $357M |
| FY2022 | $4.41B | -$78.0M | $315M |
| FY2023 | $4.42B | -$1.23B | $131M |
| FY2024 | $4.44B | $338M | $394M |
| FY2025 | $4.71B | -$232M | $284M |

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Source: https://stockcv.com/ELAN — derived from company filings; may be delayed or incomplete. Information, not investment advice.