Elanco Animal Health Inc. (ELAN) intrinsic value & 10-year financials
Elanco Animal Health Inc. (ELAN) has a Graham intrinsic value of $11.43 per share. At $23.55 on Oct 17, 2026, the stock trades 106% above that value. Over the last 10 fiscal years revenue grew 5.5% a year to $4.7B, with an average return on invested capital of -2.1%.
- Graham intrinsic value
- $11.43
- Share price (Oct 17, 2026)
- $23.55
- Price vs Graham value
- 106% above
- Market cap
- $11.7B
- Revenue (FY2025)
- $4.7B
- Revenue growth (10-yr CAGR)
- 5.5%
- ROIC (10-yr avg)
- -2.1%
- Free cash flow (FY2025)
- $284.0M
ELAN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $4.7B | -$232.0M | -$0.47 | $284.0M | — | -2.3% |
| FY2024 | $4.4B | $338.0M | $0.68 | $394.0M | — | 3.1% |
| FY2023 | $4.4B | -$1.2B | -$2.50 | $131.0M | — | -10.0% |
| FY2022 | $4.4B | -$78.0M | -$0.16 | $315.0M | — | -0.6% |
| FY2021 | $4.8B | -$472.0M | -$0.97 | $357.0M | — | -3.4% |
| FY2020 | $3.3B | -$560.1M | -$1.27 | -$175.6M | — | -5.1% |
| FY2019 | $3.1B | $67.9M | $0.18 | $83.7M | — | 0.9% |
| FY2018 | $3.1B | $86.5M | $0.28 | $352.8M | — | 1.2% |
| FY2017 | $2.9B | -$310.7M | -$1.06 | $75.2M | — | -4.2% |
| FY2016 | $2.9B | -$47.9M | — | $45.6M | — | -0.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Elanco Animal Health Inc has demonstrated mature, steady growth, with revenue compounding at 5.5% annually over the past decade.
Elanco Animal Health Inc has historically struggled to out-earn its cost of capital, averaging just -2.3% ROIC.
Elanco Animal Health Inc capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Elanco Animal Health Inc is modeled at 5.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $11.43 per share.