Elanco Animal Health Incorporated (ELAN) Income Statement
ELAN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsELAN revenue and net income
Where ELAN's revenue goes
2025Each bar shows an amount and its share of revenue. ELAN kept −4.9% of revenue as net income.
ELAN profit margins
ELAN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.2% | +2.2% | +7.6% | +4.9% |
| Gross profit | +7.4% | +1.3% | +10.5% | +5.4% |
| Operating income | +0.4% | −13.1% | — | +46.9% |
| Net income | −168.6% | — | — | — |
| EPS (diluted) | +4.4% | −5.1% | +15.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ELAN quarterly EPS vs estimates
Elanco Animal Health beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: November 6, 2026 (estimate $0.20).
ELAN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.71B | $4.44B | $4.42B | $4.41B | $4.76B | $3.27B | $3.07B | $3.07B | $2.89B | $2.91B |
| Cost of revenue | $2.67B | $2.53B | $2.48B | $2.44B | $2.69B | $2.03B | $1.67B | $1.77B | $1.72B | $1.58B |
| Gross profit | $2.05B | $1.91B | $1.94B | $1.97B | $2.08B | $1.25B | $1.40B | $1.30B | $1.17B | $1.33B |
| Research & development | $368.0M | $344.0M | $327.0M | $321.0M | $369.0M | $327.0M | $270.1M | $246.6M | $251.7M | $265.8M |
| Sales, general & admin | $1.43B | $1.31B | $1.28B | $1.27B | $1.40B | $996.6M | $760.2M | $735.2M | $779.8M | $784.8M |
| Total operating expenses | $1.80B | $1.66B | $1.61B | $1.59B | $1.77B | $1.32B | $1.03B | $981.8M | $1.03B | $1.05B |
| Operating income | $252.0M | $251.0M | $326.0M | $384.0M | $304.0M | −$76.8M | $370.0M | $313.8M | $142.4M | $283.2M |
| Interest income | — | — | — | — | — | — | $78.9M | $29.6M | — | — |
| Interest expense | $220.0M | $339.0M | $277.0M | $256.0M | $264.0M | $156.0M | $78.9M | $29.6M | $0 | $0 |
| Income before taxes | −$224.0M | $488.0M | −$1.20B | −$72.0M | −$571.0M | −$672.0M | $78.2M | $114.1M | −$232.6M | −$22.4M |
| Income taxes | $8.0M | $150.0M | $36.0M | $6.0M | −$88.0M | −$111.9M | $10.3M | $27.6M | $78.1M | $25.5M |
| Net income | −$232.0M | $338.0M | −$1.23B | −$78.0M | −$483.0M | −$560.1M | $67.9M | $86.5M | −$310.7M | −$47.9M |
| EBITDA | $676.0M | $1.49B | −$224.0M | $866.0M | $409.0M | $1.0M | $471.6M | $439.7M | $85.8M | $232.0M |
| EPS (diluted) | $0.95 | $0.91 | $0.89 | $1.11 | $1.05 | $0.47 | $1.06 | −$0.39 | −$0.85 | −$0.16 |
| Gross margin | 43.5% | 43.0% | 43.9% | 44.7% | 43.6% | 38.1% | 45.6% | 42.2% | 40.6% | 45.8% |
| Operating margin | 5.3% | 5.7% | 7.4% | 8.7% | 6.4% | −2.3% | 12.0% | 10.2% | 4.9% | 9.7% |
| Net margin | −4.9% | 7.6% | −27.9% | −1.8% | −10.1% | −17.1% | 2.2% | 2.8% | −10.8% | −1.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.37B | $1.37B | $1.14B | $1.14B | $1.24B | $1.19B | $1.02B | $1.03B | $1.18B | $1.21B | $1.03B | $1.07B |
| Cost of revenue | $570.0M | $586.0M | $694.0M | $530.0M | $664.0M | $637.0M | $631.0M | $625.0M | $626.0M | $648.0M | $654.0M | $627.0M |
| Gross profit | $798.0M | $785.0M | $450.0M | $607.0M | $577.0M | $556.0M | $389.0M | $405.0M | $558.0M | $557.0M | $381.0M | $441.0M |
| Research & development | $92.0M | $97.0M | $93.0M | $89.0M | $92.0M | $94.0M | $81.0M | $87.0M | $89.0M | $87.0M | $79.0M | $86.0M |
| Sales, general & admin | $449.0M | $381.0M | $338.0M | $351.0M | $400.0M | $341.0M | $300.0M | $323.0M | $354.0M | $337.0M | $292.0M | $313.0M |
| Total operating expenses | $689.0M | $478.0M | $431.0M | $580.0M | $492.0M | $435.0M | $381.0M | $410.0M | $443.0M | $424.0M | $371.0M | $399.0M |
| Operating income | $109.0M | $307.0M | $19.0M | $27.0M | $85.0M | $121.0M | $8.0M | −$5.0M | $115.0M | $133.0M | $10.0M | $42.0M |
| Interest expense | $59.0M | $57.0M | $91.0M | $52.0M | $70.0M | $53.0M | $62.0M | $85.0M | $65.0M | $66.0M | $67.0M | $72.0M |
| Income before taxes | $56.0M | $87.0M | −$259.0M | −$50.0M | $25.0M | $60.0M | −$51.0M | $559.0M | −$32.0M | $12.0M | −$127.0M | −$1.10B |
| Income taxes | $2.0M | $30.0M | $17.0M | −$16.0M | $14.0M | −$7.0M | −$43.0M | $195.0M | $18.0M | −$20.0M | $14.0M | −$1.0M |
| Net income | $54.0M | $57.0M | −$276.0M | −$34.0M | $11.0M | $67.0M | −$8.0M | $364.0M | −$50.0M | $32.0M | −$141.0M | −$1.10B |
| EBITDA | $274.0M | $316.0M | $6.0M | $178.0M | $264.0M | $274.0M | $175.0M | $814.0M | $195.0M | $244.0M | $111.0M | −$852.0M |
| EPS (diluted) | $0.34 | $0.40 | $0.13 | $0.19 | $0.26 | $0.37 | $0.14 | $0.13 | $0.30 | $0.34 | $0.08 | $0.18 |
| Gross margin | 58.3% | 57.3% | 39.3% | 53.4% | 46.5% | 46.6% | 38.1% | 39.3% | 47.1% | 46.2% | 36.8% | 41.3% |
| Operating margin | 8.0% | 22.4% | 1.7% | 2.4% | 6.8% | 10.1% | 0.8% | −0.5% | 9.7% | 11.0% | 1.0% | 3.9% |
| Net margin | 3.9% | 4.2% | −24.1% | −3.0% | 0.9% | 5.6% | −0.8% | 35.3% | −4.2% | 2.7% | −13.6% | −102.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ELAN's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ELAN financial results
In fiscal year 2025 (ended December 31, 2025), Elanco Animal Health reported revenue of $4.7 billion, up 6.2% from the year before. It had a net loss of $232.0 million, a net profit margin of −4.9%. Diluted earnings per share came to $0.95. Over five years revenue grew at an average rate of 7.6% a year.
See the ELAN stock overview for the latest quote and news, or the ELAN chart for price history and technical indicators.
ELAN income statement FAQ
What is Elanco Animal Health's annual revenue?
Elanco Animal Health reported total revenue of $4.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 6.2% from $4.4 billion the previous year.
Is Elanco Animal Health profitable?
No. Elanco Animal Health reported a net loss of $232.0 million in fiscal 2025, a net profit margin of −4.9%; its operating margin was 5.3%.
What is Elanco Animal Health's gross margin?
Elanco Animal Health's gross margin was 43.5% in fiscal 2025: for every $100 of revenue, Elanco Animal Health kept $43 after the direct cost of its products and services.
How much does Elanco Animal Health spend on research and development?
Elanco Animal Health spent $368.0 million on research and development in fiscal 2025, 7.8% of revenue.
How fast is Elanco Animal Health growing?
Revenue grew 7.6% a year on average over the last five fiscal years, from $3.3 billion to $4.7 billion.
What are Elanco Animal Health's earnings per share?
Elanco Animal Health earned $0.95 per diluted share in fiscal 2025, compared with $0.91 a year earlier.
When will Elanco Animal Health report its next earnings?
Elanco Animal Health is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 before the market opens.
When does Elanco Animal Health's fiscal year end?
Elanco Animal Health's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.