ELANElanco Animal Health Incorporated
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ELAN?
Elanco Animal Health Incorporated keeps −4.0% of every revenue dollar as profit after everything, against 4.8% for the median Drug Manufacturers - Specialty & Generic name.
Net margin · Drug Manufacturers - Specialty & Generic median 4.8% · 12 months to Q2 2026
- Share count, year on year
- +1.2%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 7.4%
R&D as % of revenue
- Gross margin
- 55%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −21% |
| FY2021 | −12% |
| FY2022 | −1.6% |
| FY2023 | −27% |
| FY2024 | 11% |
Details›
- Gross margin12 months to Q2 2026
- 55%
- Net margin12 months to Q2 2026
- −4.0%
- Free cash flow margin
- 7.5%
- R&D as % of revenue
- 7.4%
- Revenue, trailing twelve months
- $5.02B
- Free cash flow, trailing twelve months
- $379M
- Net income, trailing twelve months
- −$199M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Drug Manufacturers, Specialty & Generic
Ranks #20 of 41 by RyuScore