Sector Alpha Week of 2026-07-28
20-quarter listed-company comparison

Drug Manufacturers - General Stocks

Drug Manufacturers - General: Johnson & Johnson owns the largest revenue base; Eli Lilly and Company has the fastest current growth.

The industry itself · before any single company

How has Drug Manufacturers - General moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 26% behind S&P 500. Earnings across its companies grew 36% on average over the last four reported quarters.

TURNING · ahead 2w~Fundamentals up, price down6 of 17 companies ahead of S&P 500 by 5% or more over three months2 are 20% or more behind over a year while earnings grew 20% or more

RS ↑2w · 10/17 >200d (−4) · 6/17 lead (+1) · EPS 10/17↑

200300202620252024202320222021 270348 TRAILING 12-MONTH EPS · 100 AT THE START0100121Mar 22Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingJun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 15 reportingSep 2022 · trailing 12-month earnings per share at 108, against 100 at the start · no comparable year yet · 15 reportingDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 16 reportingMar 2023 · trailing 12-month earnings per share at 107, against 100 at the start · up 21.6% on a year ago · 14 reportingJun 2023 · trailing 12-month earnings per share at 116, against 100 at the start · up 24.9% on a year ago · 15 reportingSep 2023 · trailing 12-month earnings per share at 86, against 100 at the start · down 28.1% on a year ago · 15 reportingDec 2023 · trailing 12-month earnings per share at 82, against 100 at the start · down 6.4% on a year ago · 17 reportingMar 2024 · trailing 12-month earnings per share at 69, against 100 at the start · down 33.0% on a year ago · 15 reportingJun 2024 · trailing 12-month earnings per share at 73, against 100 at the start · down 30.8% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 77, against 100 at the start · down 32.8% on a year ago · 15 reportingDec 2024 · trailing 12-month earnings per share at 74, against 100 at the start · down 4.5% on a year ago · 15 reportingMar 2025 · trailing 12-month earnings per share at 104, against 100 at the start · up 24.4% on a year ago · 15 reportingJun 2025 · trailing 12-month earnings per share at 116, against 100 at the start · up 26.3% on a year ago · 15 reportingSep 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 62.2% on a year ago · 14 reportingDec 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 32.7% on a year ago · 14 reportingMar 2026 · trailing 12-month earnings per share at 117, against 100 at the start · up 22.9% on a year ago · 15 reportingNot reported yet — earnings trail price by a quarter or two117 · Mar 26No earnings on file this far back — the price series reaches further than the filings do
200300202620252024202320222021 270348 TRAILING 12-MONTH EPS · 100 AT THE START0100121Mar 22Mar 23Mar 24Mar 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 13 reportingJun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 15 reportingSep 2022 · trailing 12-month earnings per share at 108, against 100 at the start · no comparable year yet · 15 reportingDec 2022 · trailing 12-month earnings per share at 109, against 100 at the start · no comparable year yet · 16 reportingMar 2023 · trailing 12-month earnings per share at 107, against 100 at the start · up 21.6% on a year ago · 14 reportingJun 2023 · trailing 12-month earnings per share at 116, against 100 at the start · up 24.9% on a year ago · 15 reportingSep 2023 · trailing 12-month earnings per share at 86, against 100 at the start · down 28.1% on a year ago · 15 reportingDec 2023 · trailing 12-month earnings per share at 82, against 100 at the start · down 6.4% on a year ago · 17 reportingMar 2024 · trailing 12-month earnings per share at 69, against 100 at the start · down 33.0% on a year ago · 15 reportingJun 2024 · trailing 12-month earnings per share at 73, against 100 at the start · down 30.8% on a year ago · 15 reportingSep 2024 · trailing 12-month earnings per share at 77, against 100 at the start · down 32.8% on a year ago · 15 reportingDec 2024 · trailing 12-month earnings per share at 74, against 100 at the start · down 4.5% on a year ago · 15 reportingMar 2025 · trailing 12-month earnings per share at 104, against 100 at the start · up 24.4% on a year ago · 15 reportingJun 2025 · trailing 12-month earnings per share at 116, against 100 at the start · up 26.3% on a year ago · 15 reportingSep 2025 · trailing 12-month earnings per share at 120, against 100 at the start · up 62.2% on a year ago · 14 reportingDec 2025 · trailing 12-month earnings per share at 121, against 100 at the start · up 32.7% on a year ago · 14 reportingMar 2026 · trailing 12-month earnings per share at 117, against 100 at the start · up 22.9% on a year ago · 15 reportingNot reported yet — earnings trail price by a quarter or two117No earnings on file this far back — the price series reaches further than the filings do
Drug Manufacturers - General, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy MixedHow much of the industry is participating, how recently, and whether the movers score well.
Together6 of 17 stocks moving
Fresh3 crossed in the last 4 weeks
Backed by scoresmovers score +8 vs the industry average
Down the cap ladder — bar is now, tick is four weeks ago
Large 4/4+2
Mid 2/6+1
Small 0/7−2

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 17 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Drug Manufacturers - General outperforming S&P 500?

Drug Manufacturers - General has outperformed S&P 500 by 10% over the last 52 weeks. Over 13 weeks the gap is a lead of 5.7%. 10 of 16 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Organon & Co. is the strongest against the sector itself at +23.8%.

+5.7%Sector vs S&P 500 · 13 weeks
+10.0%Sector vs S&P 500 · 52 weeks
10/16Stocks leading S&P 500
8/16Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Drug Manufacturers - General has outperformed S&P 500 by 10% over 52 weeks and 5.7% over 13 weeks. 10 of 16 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 16 beat the sector itself. Johnson & Johnson leads with revenue of $97,929 million, based on 16 of 16 comparable companies through Jun 2026.

Is the Drug Manufacturers - General sector outperforming S&P 500?

Drug Manufacturers - General has outperformed S&P 500 by 10% over 52 weeks and 5.7% over 13 weeks. 10 of 16 covered companies beat the S&P 500 on Mansfield relative strength, while 8 of 16 beat the sector itself.

Which Drug Manufacturers - General company is largest by revenue?

Johnson & Johnson leads with revenue of $97,929 million, based on 16 of 16 comparable companies through Jun 2026.

Which Drug Manufacturers - General company is growing fastest?

Eli Lilly and Company has the fastest current revenue growth at 47.4%, across 16 of 16 comparable companies.

Which Drug Manufacturers - General company has the strongest 4-Factor Sector Score?

Eli Lilly and Company ranks first at 70.1/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Drug Manufacturers - General company reports the most CAPEX?

Eli Lilly and Company reports the largest latest CAPEX at $2,326 million, with 16 of 16 companies comparable.

Which Drug Manufacturers - General company has the least gross debt?

Amarin Corporation plc has the lowest comparable gross debt at $6 million. AbbVie Inc. has the highest at $72,858 million.

Which Drug Manufacturers - General company has the lowest comparable PEG?

Organon & Co. has the lowest comparable Guarded PEG at 0.17, among 11 of 16 companies that pass the metric’s comparability rules.

How much history does this Drug Manufacturers - General comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
16
complete canonical membership
Combined market value
$4.0T
Eli Lilly and Company
Revenue growing
15/16
positive TTM year-on-year growth
Beating S&P 500
10/16
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Eli Lilly and Company has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82% evidence confidence.
Organon & Co. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.
Bristol-Myers Squibb Company has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Eli Lilly and Company · LLY

70.1/100 · Favorable setup · 82% evidence

Exact sum: 31.1 + 15.6 + 4.3 + 19.1 = 70.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

31.1/35Growth & earnings

Revenue 47.4% · PAT 100% · OPM change 16 pp

83% evidence

15.6/25Capital efficiency

ROCE 12.8% · debt/equity 1.39×

80% evidence

4.3/20Valuation

P/E 32.7× · PEG 8.62

65% evidence

19.1/20Relative strength

RS sector 11.5% · RS bench 17.1% · 1Y 60.1%

100% evidence

2. Amgen Inc. · AMGN

65.5/100 · Favorable setup · 82% evidence

Exact sum: 26.5 + 10.2 + 12.6 + 16.2 = 65.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

26.5/35Growth & earnings

Revenue 9.1% · PAT 31.5% · OPM change 16.4 pp

83% evidence

10.2/25Capital efficiency

ROCE 4% · debt/equity 6.24×

80% evidence

12.6/20Valuation

P/E 24.5× · PEG 0.79

65% evidence

16.2/20Relative strength

RS sector 4.5% · RS bench 9.8% · 1Y 32.4%

100% evidence

3. Johnson & Johnson · JNJ

64.7/100 · Mixed-positive evidence · 86% evidence

Exact sum: 20.7 + 17.1 + 10.3 + 16.6 = 64.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.7/35Growth & earnings

Revenue 8.1% · PAT -7.2% · OPM change 0 pp

95% evidence

17.1/25Capital efficiency

ROCE 10.3% · debt/equity 0.68×

80% evidence

10.3/20Valuation

P/E 29.4× · PEG 1.3

65% evidence

16.6/20Relative strength

RS sector 8.8% · RS bench 14.2% · 1Y 59.4%

100% evidence

4. Gilead Sciences, Inc. · GILD

58.5/100 · Mixed-positive evidence · 82% evidence

Exact sum: 24.1 + 14.8 + 15.1 + 4.5 = 58.5

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -7.5% and the one-year return is 18.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

24.1/35Growth & earnings

Revenue 3.5% · PAT 54.5% · OPM change 3.6 pp

83% evidence

14.8/25Capital efficiency

ROCE 5.7% · debt/equity 0.95×

80% evidence

15.1/20Valuation

P/E 19× · PEG 0.35

65% evidence

4.5/20Relative strength

RS sector -7.5% · RS bench -2.8% · 1Y 18.7%

100% evidence

5. Bristol-Myers Squibb Company · BMY

57.5/100 · Mixed-positive evidence · 82% evidence

Exact sum: 16.9 + 10.9 + 14.5 + 15.2 = 57.5

Decision use: Price leads the evidence: RS versus the benchmark is 10%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

16.9/35Growth & earnings

Revenue 1.8% · PAT 33.7% · OPM change -1 pp

83% evidence

10.9/25Capital efficiency

ROCE 4.8% · debt/equity 2.21×

80% evidence

14.5/20Valuation

P/E 17× · PEG 0.51

65% evidence

15.2/20Relative strength

RS sector 4.7% · RS bench 10% · 1Y 43.8%

100% evidence

6. GSK plc · GSK

53.3/100 · Mixed-positive evidence · 72% evidence

Exact sum: 21.8 + 14.6 + 10.9 + 6 = 53.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.8/35Growth & earnings

Revenue 4% · PAT 74.5% · OPM change 0.6 pp

83% evidence

14.6/25Capital efficiency

ROCE 5.7% · debt/equity 1.09×

80% evidence

10.9/20Valuation

P/E 14.6× · PEG —

15% evidence

6.0/20Relative strength

RS sector -3.7% · RS bench 1.1% · 1Y 43%

100% evidence

7. AbbVie Inc. · ABBV

49.7/100 · Mixed-negative evidence · 72% evidence

Exact sum: 15.5 + 9.4 + 8.7 + 16.1 = 49.7

Decision use: Price leads the evidence: RS versus the benchmark is 9.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.5/35Growth & earnings

Revenue 9.5% · PAT -13.4% · OPM change -1.4 pp

83% evidence

9.4/25Capital efficiency

ROCE 4.1% · debt/equity 47.8×

80% evidence

8.7/20Valuation

P/E 107.1× · PEG —

15% evidence

16.1/20Relative strength

RS sector 4.1% · RS bench 9.6% · 1Y 34.8%

100% evidence

8. Organon & Co. · OGN

49.4/100 · Mixed-negative evidence · 82% evidence

Exact sum: 10.5 + 8.3 + 16.3 + 14.3 = 49.4

Decision use: Price leads the evidence: RS versus the benchmark is 30.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

10.5/35Growth & earnings

Revenue -2.1% · PAT -67.2% · OPM change 0.7 pp

83% evidence

8.3/25Capital efficiency

ROCE 2.2% · debt/equity 9.49×

80% evidence

16.3/20Valuation

P/E 6.4× · PEG 0.17

65% evidence

14.3/20Relative strength

RS sector 23.8% · RS bench 30.8% · 1Y 38.7%

100% evidence

9. Biogen Inc. · BIIB

47.5/100 · Mixed-negative evidence · 82% evidence

Exact sum: 11.5 + 10.6 + 14.5 + 10.9 = 47.5

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

11.5/35Growth & earnings

Revenue 1.2% · PAT -7.3% · OPM change 0.4 pp

83% evidence

10.6/25Capital efficiency

ROCE 1.6% · debt/equity 0.35×

80% evidence

14.5/20Valuation

P/E 19.7× · PEG 0.38

65% evidence

10.9/20Relative strength

RS sector 3.9% · RS bench 9.2% · 1Y 55.8%

100% evidence

10. AstraZeneca PLC · AZN

45.4/100 · Mixed-negative evidence · 82% evidence

Exact sum: 22.9 + 13.4 + 7.9 + 1.2 = 45.4

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.9% and the one-year return is 16.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

22.9/35Growth & earnings

Revenue 9.9% · PAT 33.5% · OPM change 0.8 pp

83% evidence

13.4/25Capital efficiency

ROCE 5.4% · debt/equity 0.72×

80% evidence

7.9/20Valuation

P/E 59.3× · PEG 1.76

65% evidence

1.2/20Relative strength

RS sector -14.9% · RS bench -10.5% · 1Y 16.9%

100% evidence

11. Novartis AG · NVS

43.5/100 · Mixed-negative evidence · 86% evidence

Exact sum: 11.5 + 15 + 6.6 + 10.4 = 43.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.5/35Growth & earnings

Revenue 2.7% · PAT -6.5% · OPM change -1 pp

95% evidence

15.0/25Capital efficiency

ROCE 5.8% · debt/equity 1.17×

80% evidence

6.6/20Valuation

P/E 23.6× · PEG 2.37

65% evidence

10.4/20Relative strength

RS sector -0.5% · RS bench 4.6% · 1Y 38.6%

100% evidence

12. Sanofi · SNY

40.7/100 · Mixed-negative evidence · 82% evidence

Exact sum: 9 + 12.6 + 14.5 + 4.6 = 40.7

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

9.0/35Growth & earnings

Revenue 2.1% · PAT -18.5% · OPM change -2.6 pp

83% evidence

12.6/25Capital efficiency

ROCE 2.1% · debt/equity 0.27×

80% evidence

14.5/20Valuation

P/E 13.4× · PEG 0.58

65% evidence

4.6/20Relative strength

RS sector -14.7% · RS bench -10% · 1Y -2.6%

100% evidence

13. Pfizer Inc. · PFE

39.9/100 · Mixed-negative evidence · 72% evidence

Exact sum: 15.8 + 11 + 10.1 + 3 = 39.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

15.8/35Growth & earnings

Revenue 1.4% · PAT -4.7% · OPM change 1.6 pp

83% evidence

11.0/25Capital efficiency

ROCE 1.8% · debt/equity 0.71×

80% evidence

10.1/20Valuation

P/E 20.6× · PEG —

15% evidence

3.0/20Relative strength

RS sector -13.1% · RS bench -8.5% · 1Y 7.5%

100% evidence

14. Amarin Corporation plc · AMRN

38.9/100 · Thin evidence · provisional · 59% evidence

Exact sum: 18.8 + 8.6 + 8.5 + 3 = 38.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.8/35Growth & earnings

Revenue 1.9% · PAT — · OPM change 14.8 pp

62% evidence

8.6/25Capital efficiency

ROCE -2.4% · debt/equity 0.01×

80% evidence

8.5/20Valuation

P/E 168.5× · PEG —

15% evidence

3.0/20Relative strength

RS sector -19.9% · RS bench -15.4% · 1Y -8%

70% evidence

15. Merck & Co., Inc. · MRK

38.5/100 · Mixed-negative evidence · 82% evidence

Exact sum: 6.8 + 6.5 + 7.7 + 17.5 = 38.5

Decision use: Price leads the evidence: RS versus the benchmark is 15.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

6.8/35Growth & earnings

Revenue 2.9% · PAT -48.8% · OPM change -58.7 pp

83% evidence

6.5/25Capital efficiency

ROCE -3.5% · debt/equity 1.07×

80% evidence

7.7/20Valuation

P/E 33.9× · PEG 1.77

65% evidence

17.5/20Relative strength

RS sector 9.9% · RS bench 15.2% · 1Y 66.3%

100% evidence

16. Grifols, S.A. · GRFS

29.6/100 · Adverse evidence · 72% evidence

Exact sum: 8.4 + 6.8 + 11.5 + 2.9 = 29.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.4/35Growth & earnings

Revenue 0.9% · PAT -107.1% · OPM change -0.3 pp

83% evidence

6.8/25Capital efficiency

ROCE 1.4% · debt/equity 1.23×

80% evidence

11.5/20Valuation

P/E 6.2× · PEG —

15% evidence

2.9/20Relative strength

RS sector -19.6% · RS bench -15.1% · 1Y -25.8%

100% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Johnson & Johnson has the highest Revenue among the 16 Drug Manufacturers - General companies compared here, at $97,929 million. Eli Lilly and Company is next at $72,250 million. Eli Lilly and Company has the highest Revenue growth at 47.4%, so level and change sit with different companies. Its Revenue series carries 20 reported observations across the 20-quarter window.

What the numbers say: Johnson & Johnson is the scale leader at $97,929 million, 35.5% ahead of Eli Lilly and Company. Eli Lilly and Company's growth is 47.4% from a $72,250 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderJohnson & Johnson · $97,929 million
Gap35.5% versus #2 · Eli Lilly and Company
Persistence8/8 recent comparable periods
Coverage16/16 companies · 304 observations

Investor read: Johnson & Johnson is the scale benchmark; Eli Lilly and Company is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Johnson & Johnson's growth falls below Eli Lilly and Company's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Johnson & Johnson JNJ$97.9B
2Eli Lilly and Company LLY$72.3B
3Merck & Co., Inc. MRK$65.8B
4Pfizer Inc. PFE$63.3B
5AbbVie Inc. ABBV$62.8B
Revenue growthfastest growers
1Eli Lilly and Company LLY47%
2AstraZeneca PLC AZN9.9%
3AbbVie Inc. ABBV9.5%
4Amgen Inc. AMGN9.1%
5Johnson & Johnson JNJ8.1%
Revenue · company comparison
16/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Johnson & Johnson JNJ$25.3B6.6%Jun 2026
Eli Lilly and Company LLY$19.8B56%Mar 2026
Merck & Co., Inc. MRK$16.3B4.9%Mar 2026
AstraZeneca PLC AZN$15.3B13%Mar 2026
AbbVie Inc. ABBV$15.0B12%Mar 2026
Novartis AG NVS$15.0B0.8%Jun 2026
Pfizer Inc. PFE$14.5B5.4%Mar 2026
Bristol-Myers Squibb Company BMY$11.5B2.6%Mar 2026
Sanofi SNY$11.2B6.0%Mar 2026
Amgen Inc. AMGN$8.6B5.8%Mar 2026
GSK plc GSK$7.6B1.5%Mar 2026
Gilead Sciences, Inc. GILD$7.0B4.4%Mar 2026
Biogen Inc. BIIB$2.5B1.9%Mar 2026
Grifols, S.A. GRFS$1.7B-4.8%Mar 2026
Organon & Co. OGN$1.5B-3.5%Mar 2026
Amarin Corporation plc AMRN$45M7.1%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$14.3B
$14.9B
$13.5B
$14.6B
$14.8B
$15.1B
$12.2B
$13.9B
$13.9B
$14.3B
$12.3B
$14.5B
$14.5B
$15.1B
$13.3B
$15.4B
$15.8B
$16.6B
$15.0B

Amgen Inc. · AMGN

$6.7B
$6.8B
$6.2B
$6.6B
$6.7B
$6.8B
$6.1B
$7.0B
$6.9B
$8.2B
$7.4B
$8.4B
$8.5B
$9.1B
$8.1B
$9.2B
$9.6B
$9.9B
$8.6B

AstraZeneca PLC · AZN

$9.9B
$12.0B
$11.4B
$10.8B
$11.0B
$11.2B
$10.9B
$11.4B
$11.5B
$12.0B
$12.7B
$12.9B
$13.6B
$14.9B
$13.6B
$14.5B
$15.2B
$15.5B
$15.3B

Bristol-Myers Squibb Company · BMY

$11.6B
$12.0B
$11.6B
$11.9B
$11.2B
$11.4B
$11.3B
$11.2B
$11.0B
$11.5B
$11.9B
$12.2B
$11.9B
$12.3B
$11.2B
$12.3B
$12.2B
$12.5B
$11.5B

Eli Lilly and Company · LLY

$6.8B
$8.0B
$7.8B
$6.5B
$6.9B
$7.3B
$7.0B
$8.3B
$9.5B
$9.4B
$8.8B
$11.3B
$11.4B
$13.5B
$12.7B
$15.6B
$17.6B
$19.3B
$19.8B

Gilead Sciences, Inc. · GILD

$7.4B
$7.2B
$6.6B
$6.3B
$7.0B
$7.4B
$6.4B
$6.6B
$7.1B
$7.1B
$6.7B
$7.0B
$7.5B
$7.6B
$6.7B
$7.1B
$7.8B
$7.9B
$7.0B

GSK plc · GSK

$6.6B
$7.1B
$7.2B
$6.9B
$7.8B
$7.4B
$7.0B
$7.2B
$8.1B
$8.1B
$7.4B
$7.9B
$8.0B
$8.1B
$7.5B
$8.0B
$8.5B
$8.6B
$7.6B

Johnson & Johnson · JNJ

$23.3B
$23.3B
$24.8B
$23.4B
$24.0B
$20.0B
$19.9B
$20.9B
$21.5B
$21.4B
$21.4B
$22.4B
$22.5B
$22.5B
$21.9B
$23.7B
$24.0B
$24.6B
$24.1B
$25.3B

Merck & Co., Inc. · MRK

$13.2B
$13.5B
$15.9B
$14.6B
$15.0B
$13.8B
$14.5B
$15.0B
$16.0B
$14.6B
$15.8B
$16.1B
$16.7B
$15.6B
$15.5B
$15.8B
$17.3B
$16.4B
$16.3B

Novartis AG · NVS

$13.4B
$13.5B
$12.8B
$13.1B
$10.8B
$11.0B
$11.0B
$11.7B
$12.1B
$11.8B
$12.1B
$12.9B
$13.2B
$13.6B
$13.6B
$14.8B
$14.4B
$13.9B
$13.5B
$15.0B

Pfizer Inc. · PFE

$18.9B
$24.0B
$25.7B
$27.7B
$22.6B
$18.5B
$13.0B
$13.5B
$14.9B
$13.3B
$17.7B
$17.8B
$13.7B
$14.7B
$16.7B
$17.6B
$14.5B

Sanofi · SNY

$10.8B
$10.4B
$10.1B
$10.7B
$13.1B
$11.5B
$9.5B
$10.7B
$11.5B
$12.2B
$9.7B
$11.4B
$13.0B
$11.4B
$10.6B
$10.7B
$13.2B
$12.2B
$11.2B

Revenue growth · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

4.5%
3.3%
1.6%
-9.7%
-4.9%
-6.0%
-5.4%
0.7%
4.3%
3.8%
5.6%
8.4%
6.7%
9.1%
10%
12%

Amgen Inc. · AMGN

1.0%
-0.8%
-0.1%
-2.1%
5.9%
3.8%
20%
22%
20%
23%
11%
9.4%
9.4%
12%
8.6%
5.8%

AstraZeneca PLC · AZN

31%
11%
-6.7%
-4.5%
6.0%
4.6%
7.3%
17%
13%
18%
24%
7.2%
12%
12%
4.1%
13%

Bristol-Myers Squibb Company · BMY

1.6%
-3.5%
-4.8%
-2.7%
-5.6%
-2.3%
0.6%
4.7%
8.7%
8.4%
7.5%
-5.6%
0.6%
2.8%
1.3%
2.6%

Eli Lilly and Company · LLY

-3.7%
2.5%
-8.7%
-11%
28%
37%
28%
26%
36%
20%
45%
45%
38%
54%
43%
56%

Gilead Sciences, Inc. · GILD

0.7%
-5.1%
2.0%
-3.6%
5.4%
0.1%
-3.7%
5.3%
5.4%
7.0%
6.4%
-0.3%
1.8%
3.0%
4.7%
4.4%

GSK plc · GSK

19%
18%
4.2%
-3.3%
3.6%
4.1%
9.2%
5.9%
9.8%
-1.7%
0.8%
2.1%
1.3%
6.7%
6.2%
1.5%

Johnson & Johnson · JNJ

3.0%
-14%
-20%
-11%
-10%
6.8%
7.2%
7.4%
4.4%
5.5%
2.4%
5.8%
6.8%
9.1%
9.9%
6.6%

Merck & Co., Inc. · MRK

28%
14%
2.3%
-8.9%
3.0%
6.7%
5.8%
8.9%
7.2%
4.4%
6.8%
-1.6%
-1.9%
3.7%
5.0%
4.9%

Novartis AG · NVS

-1.6%
-19%
-19%
-14%
-10%
12%
7.4%
9.7%
9.6%
8.9%
15%
12%
15%
9.0%
2.2%
-0.7%
0.8%

Pfizer Inc. · PFE

47%
-5.8%
-28%
-53%
-40%
-28%
36%
32%
-7.8%
10%
-5.9%
-1.2%
5.4%

Sanofi · SNY

19%
21%
10%
-5.8%
-0.6%
-12%
6.5%
2.7%
6.5%
12%
-6.4%
9.1%
-5.7%
1.5%
6.9%
6.0%
02 · compare level, then change

Operating Economics & Margin Trend

Eli Lilly and Company has the highest OPM among the 16 Drug Manufacturers - General companies compared here, at 45%. Gilead Sciences, Inc. is next at 37.2%. Amgen Inc. has the highest Margin change at +16.4 percentage points, so level and change sit with different companies. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Eli Lilly and Company leads opm at 45%; Amgen Inc. leads margin change at +16.4 percentage points.

LeaderEli Lilly and Company · 45%
Gap21% versus #2 · Gilead Sciences, Inc.
Persistence8/8 recent comparable periods
Coverage16/16 companies · 304 observations

Investor read: Eli Lilly and Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Eli Lilly and Company LLY45%
2Gilead Sciences, Inc. GILD37%
3Novartis AG NVS32%
4Amgen Inc. AMGN31%
5GSK plc GSK30%
Margin changefastest expanders
1Amgen Inc. AMGN+16.4 pp
2Eli Lilly and Company LLY+16.0 pp
3Amarin Corporation plc AMRN+14.8 pp
4Gilead Sciences, Inc. GILD+3.6 pp
5Pfizer Inc. PFE+1.6 pp
Operating margin · company comparison
16/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Eli Lilly and Company LLY45%+16.0 ppMar 2026
Gilead Sciences, Inc. GILD37%+3.6 ppMar 2026
Novartis AG NVS32%−1.0 ppJun 2026
Amgen Inc. AMGN31%+16.4 ppMar 2026
GSK plc GSK30%+0.6 ppMar 2026
Bristol-Myers Squibb Company BMY29%−1.0 ppMar 2026
Johnson & Johnson JNJ28%0.0 ppJun 2026
AstraZeneca PLC AZN28%+0.8 ppMar 2026
AbbVie Inc. ABBV27%−1.4 ppMar 2026
Pfizer Inc. PFE22%+1.6 ppMar 2026
Sanofi SNY19%−2.6 ppMar 2026
Organon & Co. OGN16%+0.7 ppMar 2026
Biogen Inc. BIIB16%+0.4 ppMar 2026
Grifols, S.A. GRFS15%−0.3 ppMar 2026
Merck & Co., Inc. MRK-21%−58.7 ppMar 2026
Amarin Corporation plc AMRN-25%+14.8 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

30%
34%
35%
23%
31%
36%
23%
33%
16%
22%
23%
28%
27%
-9.9%
28%
32%
12%
27%
27%

Amgen Inc. · AMGN

36%
34%
40%
33%
40%
33%
32%
38%
29%
16%
13%
23%
24%
25%
15%
29%
26%
28%
31%

AstraZeneca PLC · AZN

-17%
-2.4%
7.7%
5.0%
11%
9.8%
23%
22%
17%
10%
25%
21%
16%
14%
27%
24%
24%
19%
28%

Bristol-Myers Squibb Company · BMY

15%
19%
20%
19%
18%
14%
21%
16%
17%
11%
-96%
13%
16%
3.9%
30%
19%
25%
11%
29%

Eli Lilly and Company · LLY

28%
24%
31%
19%
24%
25%
22%
26%
4.7%
26%
29%
33%
13%
38%
29%
44%
42%
43%
45%

Gilead Sciences, Inc. · GILD

52%
13%
3.0%
32%
40%
31%
27%
25%
37%
23%
-65%
38%
12%
32%
34%
35%
43%
25%
37%

GSK plc · GSK

21%
7.0%
32%
16%
15%
25%
30%
30%
24%
7.1%
20%
21%
2.4%
8.6%
30%
25%
30%
13%
30%

Johnson & Johnson · JNJ

27%
25%
22%
25%
26%
27%
23%
28%
28%
27%
28%
28%
23%
16%
28%
28%
30%
22%
26%
28%

Merck & Co., Inc. · MRK

37%
26%
35%
34%
27%
25%
26%
-34%
36%
-14%
36%
38%
24%
28%
38%
32%
38%
24%
-21%

Novartis AG · NVS

24%
19%
22%
17%
17%
16%
24%
24%
15%
22%
28%
31%
28%
26%
34%
33%
31%
26%
31%
32%

Pfizer Inc. · PFE

37%
33%
35%
41%
40%
34%
17%
-25%
23%
-0.8%
27%
-0.1%
20%
21%
20%
-9.4%
22%

Sanofi · SNY

28%
14%
24%
13%
21%
36%
22%
17%
26%
2.8%
13%
14%
27%
8.3%
22%
14%
28%
-8.5%
19%

Margin change · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

−9.2 pp
+1.1 pp
+2.3 pp
−12.2 pp
+9.9 pp
−14.7 pp
−14.1 pp
+0.1 pp
−4.9 pp
+10.1 pp
−32.2 pp
+5.3 pp
+4.1 pp
−14.4 pp
+37.2 pp
−1.4 pp

Amgen Inc. · AMGN

+20.3 pp
+4.5 pp
−1.1 pp
−8.6 pp
+5.4 pp
−10.7 pp
−17.1 pp
−18.2 pp
−15.6 pp
−5.2 pp
+9.9 pp
+1.2 pp
+6.1 pp
+2.3 pp
+2.2 pp
+16.4 pp

AstraZeneca PLC · AZN

−8.7 pp
+28.3 pp
+12.2 pp
+15.7 pp
+16.5 pp
+5.7 pp
+0.5 pp
+1.2 pp
−0.3 pp
−1.5 pp
+3.4 pp
+2.4 pp
+3.1 pp
+8.1 pp
+5.5 pp
+0.8 pp

Bristol-Myers Squibb Company · BMY

+5.6 pp
+3.4 pp
−4.4 pp
+0.7 pp
−3.4 pp
−1.3 pp
−3.0 pp
−117.2 pp
−2.7 pp
−1.0 pp
−7.5 pp
+125.9 pp
+5.7 pp
+8.5 pp
+7.5 pp
−1.0 pp

Eli Lilly and Company · LLY

−2.1 pp
−3.6 pp
+1.1 pp
−9.3 pp
+6.9 pp
−19.5 pp
+0.4 pp
+7.1 pp
+7.3 pp
+8.6 pp
+12.5 pp
+0.4 pp
+11.2 pp
+28.5 pp
+5.4 pp
+16.0 pp

Gilead Sciences, Inc. · GILD

−3.7 pp
−11.5 pp
+17.7 pp
+23.8 pp
−7.2 pp
−3.1 pp
−8.0 pp
−91.4 pp
+12.8 pp
−25.4 pp
+9.7 pp
+98.2 pp
−3.1 pp
+31.0 pp
−7.4 pp
+3.6 pp

GSK plc · GSK

−6.2 pp
−5.6 pp
+18.3 pp
−1.9 pp
+14.2 pp
+8.7 pp
−18.2 pp
−9.8 pp
−8.9 pp
−21.5 pp
+1.5 pp
+9.3 pp
+4.4 pp
+27.9 pp
+4.2 pp
+0.6 pp

Johnson & Johnson · JNJ

−0.9 pp
+2.1 pp
+1.4 pp
+2.9 pp
+2.0 pp
−0.1 pp
+5.2 pp
+0.2 pp
−5.1 pp
−10.6 pp
−0.1 pp
+0.4 pp
+7.0 pp
+6.3 pp
−1.9 pp
0.0 pp

Merck & Co., Inc. · MRK

+19.5 pp
−9.8 pp
−1.5 pp
−9.2 pp
−68.0 pp
+9.2 pp
−38.4 pp
+9.9 pp
+71.8 pp
−12.4 pp
+41.0 pp
+2.1 pp
−5.9 pp
+14.1 pp
−4.0 pp
−58.7 pp

Novartis AG · NVS

−9.2 pp
−7.3 pp
−2.9 pp
+1.4 pp
+6.9 pp
−2.3 pp
+5.9 pp
+4.1 pp
+7.3 pp
+12.9 pp
+4.1 pp
+6.4 pp
+1.6 pp
+3.8 pp
+0.1 pp
−2.9 pp
−1.0 pp

Pfizer Inc. · PFE

+4.5 pp
+7.2 pp
−1.4 pp
−23.9 pp
−64.6 pp
−34.7 pp
+9.2 pp
+24.7 pp
−2.7 pp
+21.6 pp
−6.6 pp
−9.3 pp
+1.6 pp

Sanofi · SNY

−3.9 pp
−7.4 pp
+21.6 pp
−1.9 pp
+4.1 pp
+5.6 pp
−33.0 pp
−9.2 pp
−3.4 pp
+1.0 pp
+5.5 pp
+8.8 pp
−0.3 pp
+0.2 pp
−16.8 pp
−2.6 pp
03 · compare level, then change

Profit Scale & Acceleration

Eli Lilly and Company has the highest Net profit among the 16 Drug Manufacturers - General companies compared here, at $25,278 million. Johnson & Johnson is next at $21,037 million. The same company also holds the highest Profit growth, at the 100% top of the scoring scale. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Eli Lilly and Company leads with $25,278 million of TTM profit, 20.2% above Johnson & Johnson. Eli Lilly and Company shows ≥100% on the scoring scale (127.6% uncapped) growth from a $25,278 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderEli Lilly and Company · $25,278 million
Gap20.2% versus #2 · Johnson & Johnson
Persistence8/8 recent comparable periods
Coverage16/16 companies · 304 observations

Investor read: Eli Lilly and Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Eli Lilly and Company LLY$25.3B
2Johnson & Johnson JNJ$21.0B
3Novartis AG NVS$12.7B
4AstraZeneca PLC AZN$10.4B
5Gilead Sciences, Inc. GILD$9.2B
Profit growthfastest growers
1Eli Lilly and Company LLY100%
2GSK plc GSK75%
3Gilead Sciences, Inc. GILD55%
4Bristol-Myers Squibb Company BMY34%
5AstraZeneca PLC AZN34%
Net profit · company comparison
16/16 level · 15/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Eli Lilly and Company LLY$7.4B168%Mar 2026
Johnson & Johnson JNJ$5.5B-0.1%Jun 2026
Novartis AG NVS$3.3B-19%Jun 2026
AstraZeneca PLC AZN$3.1B5.5%Mar 2026
Pfizer Inc. PFE$2.7B-8.9%Mar 2026
Bristol-Myers Squibb Company BMY$2.7B8.8%Mar 2026
Gilead Sciences, Inc. GILD$2.0B54%Mar 2026
GSK plc GSK$1.8B3.8%Mar 2026
Amgen Inc. AMGN$1.8B5.1%Mar 2026
Sanofi SNY$1.6B-5.6%Mar 2026
AbbVie Inc. ABBV$697M-46%Mar 2026
Biogen Inc. BIIB$320M33%Mar 2026
Organon & Co. OGN$146M68%Mar 2026
Grifols, S.A. GRFS$88M-4.4%Mar 2026
Amarin Corporation plc AMRN$-11M-800%Mar 2026
Merck & Co., Inc. MRK$-4.2B-183%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$3.2B
$4.0B
$4.5B
$928M
$4.0B
$2.5B
$241M
$2.0B
$1.8B
$824M
$1.4B
$1.4B
$1.6B
$-23M
$1.3B
$941M
$188M
$1.8B
$697M

Amgen Inc. · AMGN

$1.9B
$1.9B
$1.5B
$1.3B
$2.1B
$1.6B
$2.8B
$1.4B
$1.7B
$767M
$-113M
$746M
$2.8B
$627M
$1.7B
$1.4B
$3.2B
$1.3B
$1.8B

AstraZeneca PLC · AZN

$-1.7B
$-346M
$388M
$360M
$1.6B
$902M
$1.8B
$1.8B
$1.4B
$959M
$2.2B
$1.9B
$1.4B
$1.5B
$2.9B
$2.4B
$2.5B
$2.3B
$3.1B

Bristol-Myers Squibb Company · BMY

$1.6B
$2.4B
$1.3B
$1.4B
$1.6B
$2.0B
$2.3B
$2.1B
$1.9B
$1.8B
$-11.9B
$1.7B
$1.2B
$76M
$2.5B
$1.3B
$2.2B
$1.1B
$2.7B

Eli Lilly and Company · LLY

$1.1B
$1.7B
$1.9B
$953M
$1.5B
$1.9B
$1.3B
$1.8B
$-57M
$2.2B
$2.2B
$3.0B
$970M
$4.4B
$2.8B
$5.7B
$5.6B
$6.6B
$7.4B

Gilead Sciences, Inc. · GILD

$2.6B
$376M
$12M
$1.1B
$1.8B
$1.6B
$985M
$1.0B
$2.2B
$1.4B
$-4.2B
$1.6B
$1.3B
$1.8B
$1.3B
$2.0B
$3.1B
$2.2B
$2.0B

GSK plc · GSK

$946M
$420M
$1.8B
$746M
$779M
$1.6B
$1.6B
$1.7B
$1.5B
$398M
$1.1B
$1.3B
$65M
$501M
$1.8B
$1.6B
$2.1B
$727M
$1.8B

Johnson & Johnson · JNJ

$6.3B
$3.7B
$4.7B
$5.1B
$4.8B
$4.3B
$3.2B
$-491M
$5.4B
$4.3B
$3.3B
$4.7B
$2.7B
$3.4B
$11.0B
$5.5B
$5.2B
$5.1B
$5.2B
$5.5B

Merck & Co., Inc. · MRK

$4.6B
$3.8B
$4.3B
$3.9B
$3.3B
$3.0B
$2.8B
$-6.0B
$4.8B
$-1.2B
$4.8B
$5.5B
$3.2B
$3.7B
$5.1B
$4.4B
$5.8B
$3.0B
$-4.2B

Novartis AG · NVS

$2.8B
$16.3B
$2.2B
$1.7B
$1.3B
$1.3B
$2.2B
$2.3B
$1.5B
$2.6B
$2.7B
$3.2B
$3.2B
$2.8B
$3.6B
$4.0B
$3.9B
$2.4B
$3.2B
$3.3B

Pfizer Inc. · PFE

$5.8B
$8.2B
$7.9B
$9.9B
$8.6B
$5.6B
$2.3B
$-2.4B
$3.1B
$31M
$4.5B
$411M
$3.0B
$2.9B
$3.6B
$-1.6B
$2.7B

Sanofi · SNY

$2.3B
$1.1B
$2.0B
$1.2B
$2.1B
$3.2B
$1.8B
$1.5B
$2.3B
$-430M
$1.0B
$1.1B
$2.7B
$680M
$1.7B
$1.2B
$2.8B
$-569M
$1.6B

Profit growth · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

21%
24%
-39%
-95%
118%
-55%
-67%
469%
-32%
-12%
-103%
-6.1%
-31%
-88%
-46%

Amgen Inc. · AMGN

184%
14%
-15%
92%
4.7%
-19%
-53%
-104%
-46%
64%
-18%
92%
14%
113%
5.1%

AstraZeneca PLC · AZN

-35%
365%
406%
-16%
6.3%
21%
5.9%
4.0%
56%
34%
27%
77%
55%
5.5%

Bristol-Myers Squibb Company · BMY

35%
3.6%
-15%
77%
45%
20%
-13%
-625%
-19%
-37%
-96%
-22%
81%
1,328%
8.8%

Eli Lilly and Company · LLY

-31%
31%
12%
-29%
85%
-104%
13%
67%
68%
101%
23%
91%
476%
51%
168%

Gilead Sciences, Inc. · GILD

-25%
-31%
334%
8,108%
-8.5%
22%
-13%
-523%
55%
-42%
26%
21%
144%
22%
54%

GSK plc · GSK

-41%
-18%
287%
-7.9%
134%
97%
-76%
-34%
-25%
-96%
26%
64%
26%
3,198%
45%
3.8%

Johnson & Johnson · JNJ

-23%
18%
-32%
-110%
12%
-0.0%
0.9%
-50%
-20%
238%
18%
91%
49%
-52%
-0.1%

Merck & Co., Inc. · MRK

225%
-29%
-21%
-34%
-251%
46%
-141%
69%
-33%
6.7%
-19%
83%
-21%
-183%

Novartis AG · NVS

-41%
-52%
-92%
-3.1%
34%
14%
101%
25%
43%
111%
6.9%
34%
24%
23%
-15%
-13%
-19%

Pfizer Inc. · PFE

70%
5.8%
-29%
-76%
-128%
-99%
92%
-5.0%
9,265%
-21%
-499%
-8.9%

Sanofi · SNY

-0.8%
-12%
182%
-11%
27%
10%
-114%
-41%
-28%
20%
63%
9.2%
3.6%
-184%
-5.6%
04 · compare level, then change

Capacity Spending & Returns On It

Eli Lilly and Company has the highest CAPEX among the 16 Drug Manufacturers - General companies compared here, at $2,326 million. Sanofi is next at $1,059 million. The same company also holds the highest CAPEX intensity, at 11.7%. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Eli Lilly and Company reports $2,326 million of CAPEX; Eli Lilly and Company has the highest covered intensity at 11.7%. Coverage is only 16 of 16 companies and 276 reported observations, so this is partial evidence—not a complete sector rank.

LeaderEli Lilly and Company · $2,326 million
Gap119.6% versus #2 · Sanofi
Persistence8/8 recent comparable periods
Coverage16/16 companies · 276 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Eli Lilly and Company LLY$2.3B
2Sanofi SNY$1.1B
3Johnson & Johnson JNJ$1.0B
4Merck & Co., Inc. MRK$991M
5Amgen Inc. AMGN$712M
CAPEX intensityhighest reinvestment intensity
1Eli Lilly and Company LLY12%
2Sanofi SNY8.7%
3Amgen Inc. AMGN8.3%
4Merck & Co., Inc. MRK6.1%
5Johnson & Johnson JNJ4.4%
Capital expenditure · company comparison
16/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyCAPEXCAPEX intensityReported
Eli Lilly and Company LLY$2.3B12%Mar 2026
Sanofi SNY$1.1B8.7%Mar 2026
Johnson & Johnson JNJ$1.0B4.4%Jun 2026
Merck & Co., Inc. MRK$991M6.1%Mar 2026
Amgen Inc. AMGN$712M8.3%Mar 2026
AstraZeneca PLC AZN$547M3.6%Mar 2026
Pfizer Inc. PFE$436M3.0%Mar 2026
Bristol-Myers Squibb Company BMY$347M3.0%Mar 2026
Novartis AG NVS$321M2.1%Jun 2026
AbbVie Inc. ABBV$265M1.8%Mar 2026
GSK plc GSK$221M2.9%Mar 2026
Gilead Sciences, Inc. GILD$117M1.7%Mar 2026
Grifols, S.A. GRFS$52M3.1%Mar 2026
Biogen Inc. BIIB$51M2.1%Mar 2026
Organon & Co. OGN$37M2.5%Mar 2026
Amarin Corporation plc AMRN$0M0.0%Mar 2026
Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$217M
$187M
$162M
$143M
$177M
$213M
$175M
$178M
$219M
$205M
$193M
$241M
$249M
$291M
$235M
$269M
$381M
$329M
$265M

Amgen Inc. · AMGN

$242M
$287M
$190M
$246M
$160M
$340M
$344M
$271M
$248M
$249M
$230M
$238M
$257M
$371M
$411M
$369M
$436M
$642M
$712M

AstraZeneca PLC · AZN

$260M
$323M
$219M
$253M
$247M
$372M
$247M
$270M
$319M
$525M
$417M
$382M
$417M
$708M
$429M
$659M
$686M
$1.0B
$547M

Bristol-Myers Squibb Company · BMY

$270M
$320M
$253M
$272M
$247M
$346M
$278M
$259M
$342M
$330M
$284M
$262M
$324M
$378M
$260M
$361M
$320M
$370M
$347M

Eli Lilly and Company · LLY

$337M
$365M
$371M
$617M
$501M
$669M
$738M
$970M
$1.1B
$986M
$1.2B
$1.4B
$1.5B
$1.5B
$1.7B
$2.1B
$2.5B
$2.3B

Gilead Sciences, Inc. · GILD

$139M
$156M
$247M
$143M
$157M
$181M
$109M
$139M
$122M
$215M
$105M
$130M
$141M
$147M
$104M
$107M
$147M
$205M
$117M

GSK plc · GSK

$224M
$596M
$193M
$237M
$275M
$438M
$233M
$296M
$299M
$486M
$248M
$302M
$305M
$544M
$208M
$256M
$311M
$573M
$221M

Johnson & Johnson · JNJ

$813M
$747M
$1.4B
$607M
$863M
$952M
$1.6B
$863M
$1.1B
$967M
$807M
$976M
$1.0B
$1.6B
$795M
$1.0B
$1.2B
$1.8B
$1.0B

Merck & Co., Inc. · MRK

$1.2B
$1.2B
$984M
$1.1B
$1.1B
$1.1B
$1.0B
$965M
$902M
$989M
$861M
$791M
$783M
$937M
$1.3B
$764M
$987M
$1.0B
$991M

Novartis AG · NVS

$351M
$460M
$257M
$257M
$221M
$306M
$237M
$225M
$261M
$406M
$227M
$260M
$321M
$558M
$254M
$331M
$354M
$609M
$346M
$321M

Pfizer Inc. · PFE

$537M
$618M
$643M
$751M
$841M
$1.1B
$914M
$810M
$704M
$637M
$651M
$917M
$564M
$618M
$602M
$845M
$436M

Sanofi · SNY

$526M
$526M
$487M
$487M
$614M
$614M
$465M
$465M
$1.0B
$1.0B
$524M
$1.9B
$1.1B
$1.1B

CAPEX intensity · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

1.5%
1.3%
1.2%
1.0%
1.2%
1.4%
1.4%
1.3%
1.6%
1.4%
1.6%
1.7%
1.7%
1.9%
1.8%
1.7%
2.4%
2.0%
1.8%

Amgen Inc. · AMGN

3.6%
4.2%
3.0%
3.7%
2.4%
5.0%
5.6%
3.9%
3.6%
3.0%
3.1%
2.8%
3.0%
4.1%
5.0%
4.0%
4.6%
6.5%
8.3%

AstraZeneca PLC · AZN

2.6%
2.7%
1.9%
2.3%
2.2%
3.3%
2.3%
2.4%
2.8%
4.4%
3.3%
3.0%
3.1%
4.8%
3.2%
4.6%
4.5%
6.7%
3.6%

Bristol-Myers Squibb Company · BMY

2.3%
2.7%
2.2%
2.3%
2.2%
3.0%
2.5%
2.3%
3.1%
2.9%
2.4%
2.1%
2.7%
3.1%
2.3%
2.9%
2.6%
3.0%
3.0%

Eli Lilly and Company · LLY

5.0%
4.7%
5.7%
8.9%
6.9%
9.6%
8.9%
10%
12%
11%
11%
12%
11%
12%
11%
12%
13%
12%

Gilead Sciences, Inc. · GILD

1.9%
2.2%
3.7%
2.3%
2.2%
2.4%
1.7%
2.1%
1.7%
3.0%
1.6%
1.9%
1.9%
1.9%
1.6%
1.5%
1.9%
2.6%
1.7%

GSK plc · GSK

3.4%
8.4%
2.7%
3.4%
3.5%
5.9%
3.4%
4.1%
3.7%
6.0%
3.4%
3.8%
3.8%
6.7%
2.8%
3.2%
3.6%
6.6%
2.9%

Johnson & Johnson · JNJ

3.5%
3.2%
5.7%
2.6%
3.6%
4.8%
8.0%
4.1%
5.2%
4.5%
3.8%
4.3%
4.6%
7.2%
3.6%
4.4%
4.8%
7.5%
4.4%

Merck & Co., Inc. · MRK

8.9%
8.9%
6.2%
7.7%
7.5%
8.3%
7.0%
6.4%
5.7%
6.8%
5.5%
4.9%
4.7%
6.0%
8.6%
4.8%
5.7%
6.3%
6.1%

Novartis AG · NVS

2.6%
3.4%
2.0%
2.0%
2.0%
2.8%
2.1%
1.9%
2.2%
3.4%
1.9%
2.0%
2.4%
4.1%
1.9%
2.2%
2.5%
4.4%
2.6%
2.1%

Pfizer Inc. · PFE

2.8%
2.6%
2.5%
2.7%
3.7%
6.2%
7.0%
6.0%
4.7%
4.8%
3.7%
5.2%
4.1%
4.2%
3.6%
4.8%
3.0%

Sanofi · SNY

4.9%
5.1%
4.8%
4.5%
4.7%
5.4%
4.9%
4.4%
9.1%
8.6%
4.0%
17%
8.0%
8.7%
Annual capital allocation · 5-year view
16/16 capacity base · 16/16 OCF · 16/16 CAPEX · 16/16 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$5.1B
$4.9B
$5.0B
$5.1B
$5.6B

Amgen Inc. · AMGN

$5.2B
$5.4B
$5.9B
$6.5B
$7.9B

AstraZeneca PLC · AZN

$10.2B
$9.4B
$10.5B
$11.6B
$14.7B

GSK plc · GSK

$10.7B
$9.6B
$10.0B
$10.1B
$10.0B

Johnson & Johnson · JNJ

$19.0B
$18.0B
$19.9B
$20.5B
$23.2B

Merck & Co., Inc. · MRK

$19.3B
$21.4B
$23.1B
$23.8B
$25.3B

Novartis AG · NVS

$13.1B
$12.2B
$10.9B
$10.9B
$12.4B

Pfizer Inc. · PFE

$14.9B
$16.3B
$18.9B
$18.4B
$19.3B

Sanofi · SNY

$12.0B
$11.7B
$11.8B
$11.6B
$11.5B

Operating cash flow · fiscal-year history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$22.8B
$24.9B
$22.8B
$18.8B
$19.0B

Amgen Inc. · AMGN

$9.3B
$9.7B
$8.5B
$11.5B
$10.0B

AstraZeneca PLC · AZN

$6.0B
$9.8B
$10.3B
$11.9B
$14.6B

GSK plc · GSK

$8.0B
$7.4B
$6.8B
$6.6B
$7.7B

Johnson & Johnson · JNJ

$23.4B
$21.2B
$22.8B
$24.3B
$24.5B

Merck & Co., Inc. · MRK

$14.1B
$19.1B
$13.0B
$21.5B
$16.5B

Novartis AG · NVS

$15.1B
$14.2B
$14.5B
$17.6B
$19.1B

Pfizer Inc. · PFE

$32.6B
$29.3B
$8.7B
$12.7B
$11.7B

Sanofi · SNY

$10.5B
$10.5B
$10.3B
$9.1B
$10.8B

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$787M
$695M
$777M
$974M
$1.2B

Amgen Inc. · AMGN

$880M
$936M
$1.1B
$1.1B
$1.9B

AstraZeneca PLC · AZN

$1.1B
$1.1B
$1.4B
$1.9B
$2.8B

GSK plc · GSK

$950M
$1.1B
$1.3B
$1.4B
$1.3B

Johnson & Johnson · JNJ

$3.7B
$4.0B
$4.5B
$4.4B
$4.8B

Merck & Co., Inc. · MRK

$4.4B
$4.4B
$3.9B
$3.4B
$4.1B

Novartis AG · NVS

$1.1B
$916M
$1.1B
$1.4B
$1.5B

Pfizer Inc. · PFE

$2.7B
$3.2B
$3.9B
$2.9B
$2.6B

Sanofi · SNY

$2.0B
$2.1B
$2.9B
$3.2B
$3.5B

Free cash flow · fiscal-year history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$22.0B
$24.2B
$22.1B
$17.8B
$17.8B

Amgen Inc. · AMGN

$8.4B
$8.8B
$7.4B
$10.4B
$8.1B

AstraZeneca PLC · AZN

$4.9B
$8.7B
$9.0B
$9.9B
$11.8B

GSK plc · GSK

$7.0B
$6.3B
$5.5B
$5.2B
$6.4B

Johnson & Johnson · JNJ

$19.8B
$17.2B
$18.2B
$19.8B
$19.7B

Merck & Co., Inc. · MRK

$9.7B
$14.7B
$9.1B
$18.1B
$12.4B

Novartis AG · NVS

$14.0B
$13.3B
$13.4B
$16.3B
$17.6B

Pfizer Inc. · PFE

$29.9B
$26.0B
$4.8B
$9.8B
$9.1B

Sanofi · SNY

$8.5B
$8.4B
$7.4B
$5.9B
$7.2B
05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Amarin Corporation plc has the lowest Gross debt among the 16 Drug Manufacturers - General companies compared here, at $6 million. Biogen Inc. is next at $6,562 million. The same company also holds the lowest Net debt, at $302 million net cash. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Amarin Corporation plc has the clearest covered balance-sheet capacity with $302 million net cash and gross debt of $6 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderAmarin Corporation plc · $6 million
Gap99.9% versus #2 · Biogen Inc.
Persistence8/8 recent comparable periods
Coverage16/16 companies · 303 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Amarin Corporation plc AMRN$6M
2Biogen Inc. BIIB$6.6B
3Organon & Co. OGN$8.6B
4Grifols, S.A. GRFS$9.7B
5GSK plc GSK$19.1B
Net debtlowest net debt
1Amarin Corporation plc AMRN$-302M
2Biogen Inc. BIIB$1.8B
3Organon & Co. OGN$7.5B
4Grifols, S.A. GRFS$8.9B
5Sanofi SNY$14.5B
Debt and balance-sheet capacity · company comparison
16/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
AbbVie Inc. ABBV$72.9B$63.5BMar 2026
Pfizer Inc. PFE$64.5B$51.4BMar 2026
Amgen Inc. AMGN$57.3B$45.3BMar 2026
Johnson & Johnson JNJ$55.0B$32.9BJun 2026
Merck & Co., Inc. MRK$49.1B$43.4BMar 2026
Novartis AG NVS$49.0B$41.3BJun 2026
Bristol-Myers Squibb Company BMY$44.5B$34.0BMar 2026
Eli Lilly and Company LLY$43.4B$38.1BMar 2026
AstraZeneca PLC AZN$33.9B$26.2BMar 2026
Gilead Sciences, Inc. GILD$22.2B$14.5BMar 2026
Sanofi SNY$20.0B$14.5BMar 2026
GSK plc GSK$19.1B$15.6BMar 2026
Grifols, S.A. GRFS$9.7B$8.9BMar 2026
Organon & Co. OGN$8.6B$7.5BMar 2026
Biogen Inc. BIIB$6.6B$1.8BMar 2026
Amarin Corporation plc AMRN$6M$-302MMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$80.7B
$76.7B
$73.5B
$72.9B
$69.6B
$63.3B
$62.1B
$61.0B
$60.7B
$59.4B
$74.0B
$70.6B
$71.1B
$67.1B
$69.9B
$70.5B
$68.7B
$67.5B
$72.9B

Amgen Inc. · AMGN

$37.6B
$33.3B
$36.9B
$36.5B
$38.7B
$38.9B
$61.6B
$61.5B
$60.5B
$64.6B
$64.0B
$62.6B
$60.4B
$60.1B
$57.4B
$56.2B
$54.6B
$54.6B
$57.3B

AstraZeneca PLC · AZN

$31.9B
$30.8B
$31.1B
$29.5B
$29.3B
$29.2B
$31.5B
$29.8B
$28.6B
$28.6B
$34.6B
$33.5B
$31.6B
$30.3B
$31.6B
$32.8B
$32.6B
$29.6B
$33.9B

Bristol-Myers Squibb Company · BMY

$44.7B
$44.6B
$45.0B
$42.1B
$39.1B
$39.3B
$37.8B
$37.7B
$37.6B
$39.8B
$55.7B
$52.4B
$49.8B
$49.6B
$49.7B
$49.2B
$49.0B
$45.1B
$44.5B

Eli Lilly and Company · LLY

$17.1B
$16.9B
$16.5B
$16.8B
$15.9B
$16.2B
$18.9B
$18.8B
$20.2B
$25.2B
$26.2B
$28.9B
$31.1B
$33.6B
$38.5B
$39.9B
$42.5B
$42.5B
$43.4B

Gilead Sciences, Inc. · GILD

$27.7B
$26.7B
$26.2B
$26.2B
$25.2B
$25.2B
$25.2B
$25.2B
$25.0B
$25.0B
$25.2B
$23.4B
$23.2B
$26.7B
$25.0B
$24.9B
$24.9B
$24.9B
$22.2B

GSK plc · GSK

$25.6B
$24.2B
$33.3B
$22.1B
$22.1B
$21.0B
$20.9B
$21.5B
$20.8B
$18.0B
$17.8B
$16.9B
$16.1B
$17.0B
$18.4B
$17.4B
$17.8B
$17.7B
$19.1B

Johnson & Johnson · JNJ

$33.5B
$33.9B
$33.8B
$33.1B
$32.6B
$32.0B
$39.6B
$52.9B
$45.6B
$29.9B
$33.6B
$41.5B
$35.8B
$36.6B
$52.3B
$50.8B
$45.8B
$47.9B
$55.0B

Merck & Co., Inc. · MRK

$26.4B
$33.1B
$31.8B
$31.7B
$30.4B
$30.7B
$30.7B
$36.9B
$34.9B
$35.1B
$34.2B
$37.8B
$38.1B
$37.1B
$34.8B
$35.4B
$41.4B
$49.3B
$49.1B

Novartis AG · NVS

$34.3B
$31.1B
$31.3B
$31.1B
$28.5B
$28.0B
$29.2B
$28.3B
$25.2B
$26.4B
$27.3B
$29.0B
$32.2B
$31.4B
$31.3B
$32.6B
$32.0B
$35.5B
$47.0B
$49.0B

Pfizer Inc. · PFE

$39.2B
$39.9B
$36.3B
$40.3B
$36.7B
$35.9B
$65.3B
$63.6B
$69.5B
$69.5B
$67.7B
$64.4B
$62.1B
$61.8B
$61.7B
$64.8B
$64.5B

Sanofi · SNY

$22.4B
$22.4B
$21.2B
$21.2B
$21.2B
$21.2B
$21.0B
$21.0B
$18.4B
$18.4B
$23.8B
$23.8B
$17.9B
$17.9B
$21.0B
$22.3B
$21.8B
$20.3B
$20.0B

Net debt · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

$68.5B
$66.9B
$65.9B
$63.0B
$57.7B
$54.0B
$55.4B
$52.2B
$47.5B
$46.6B
$55.9B
$57.5B
$63.8B
$61.6B
$64.7B
$64.0B
$63.1B
$62.2B
$63.5B

Amgen Inc. · AMGN

$24.7B
$25.3B
$30.3B
$29.3B
$27.2B
$29.6B
$30.0B
$27.3B
$25.7B
$53.7B
$54.3B
$53.3B
$51.4B
$48.1B
$48.6B
$48.2B
$45.1B
$45.5B
$45.3B

AstraZeneca PLC · AZN

$24.8B
$24.4B
$25.3B
$24.6B
$24.4B
$22.8B
$25.0B
$24.0B
$23.5B
$22.7B
$26.5B
$26.5B
$26.6B
$24.6B
$26.3B
$25.7B
$24.5B
$23.9B
$26.2B

Bristol-Myers Squibb Company · BMY

$29.1B
$27.6B
$30.0B
$28.8B
$30.1B
$30.1B
$28.6B
$28.9B
$29.9B
$27.5B
$46.0B
$45.7B
$41.7B
$38.8B
$37.9B
$35.6B
$32.5B
$34.4B
$34.0B

Eli Lilly and Company · LLY

$13.3B
$13.0B
$13.9B
$14.1B
$13.1B
$14.0B
$15.2B
$16.0B
$17.7B
$22.3B
$23.6B
$25.5B
$27.6B
$30.4B
$35.3B
$36.4B
$32.6B
$35.2B
$38.1B

Gilead Sciences, Inc. · GILD

$21.9B
$20.2B
$20.9B
$20.6B
$19.6B
$18.8B
$19.4B
$18.6B
$18.1B
$17.7B
$20.5B
$20.6B
$18.2B
$16.7B
$17.0B
$19.7B
$17.6B
$17.3B
$14.5B

GSK plc · GSK

$22.1B
$19.8B
$19.4B
$15.6B
$15.0B
$13.1B
$13.9B
$15.0B
$14.2B
$12.8B
$13.7B
$14.0B
$12.8B
$13.1B
$13.9B
$13.7B
$14.4B
$14.3B
$15.6B

Johnson & Johnson · JNJ

$8.2B
$2.9B
$2.1B
$2.8B
$29M
$-2.1B
$17.4B
$28.3B
$17.1B
$6.4B
$7.4B
$16.0B
$15.5B
$12.1B
$13.5B
$31.9B
$27.2B
$27.8B
$32.9B

Merck & Co., Inc. · MRK

$16.4B
$25.0B
$22.9B
$21.5B
$19.2B
$17.5B
$20.4B
$30.5B
$26.1B
$28.0B
$28.6B
$26.4B
$23.5B
$23.4B
$25.6B
$26.8B
$23.2B
$34.8B
$43.4B

Novartis AG · NVS

$26.2B
$2.8B
$12.5B
$11.3B
$9.4B
$9.0B
$16.9B
$17.2B
$12.5B
$12.0B
$17.6B
$20.6B
$18.1B
$17.9B
$24.1B
$25.6B
$22.3B
$23.9B
$40.0B
$41.3B

Pfizer Inc. · PFE

$17.5B
$10.2B
$12.4B
$7.0B
$546M
$15.9B
$20.6B
$19.4B
$57.6B
$62.4B
$57.7B
$43.9B
$44.8B
$48.5B
$46.7B
$51.2B
$51.4B

Sanofi · SNY

$12.3B
$12.3B
$14.3B
$14.3B
$8.5B
$8.5B
$13.0B
$13.0B
$9.7B
$9.7B
$17.0B
$17.0B
$10.5B
$10.5B
$13.1B
$6.9B
$12.8B
$12.7B
$14.5B
06 · compare level, then change

Return On Capital Employed

Eli Lilly and Company has the highest ROCE among the 16 Drug Manufacturers - General companies compared here, at 12.8%. Johnson & Johnson is next at 10.3%. The same company also holds the highest ROCE change, at +5.7 percentage points. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Eli Lilly and Company leads ROCE at 12.8%, 2.5 percentage points above Johnson & Johnson. Eli Lilly and Company has the strongest latest improvement at +5.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderEli Lilly and Company · 12.8%
Gap24.3% versus #2 · Johnson & Johnson
Persistence8/8 recent comparable periods
Coverage16/16 companies · 302 observations

Investor read: Eli Lilly and Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Eli Lilly and Company LLY13%
2Johnson & Johnson JNJ10%
3Novartis AG NVS5.8%
4Gilead Sciences, Inc. GILD5.7%
5GSK plc GSK5.7%
ROCE changefastest improvers
1Eli Lilly and Company LLY+5.7 pp
2Johnson & Johnson JNJ+5.3 pp
3Amgen Inc. AMGN+2.3 pp
4Amarin Corporation plc AMRN+0.8 pp
5Gilead Sciences, Inc. GILD+0.6 pp
Return on capital · company comparison
16/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Eli Lilly and Company LLY13%+5.7 ppMar 2026
Johnson & Johnson JNJ10%+5.3 ppJun 2026
Novartis AG NVS5.8%−1.0 ppJun 2026
Gilead Sciences, Inc. GILD5.7%+0.6 ppMar 2026
GSK plc GSK5.7%+0.1 ppMar 2026
AstraZeneca PLC AZN5.4%+0.5 ppMar 2026
Bristol-Myers Squibb Company BMY4.8%+0.1 ppMar 2026
AbbVie Inc. ABBV4.1%+0.5 ppMar 2026
Amgen Inc. AMGN4.0%+2.3 ppMar 2026
Organon & Co. OGN2.2%−0.1 ppMar 2026
Sanofi SNY2.1%−0.2 ppMar 2026
Pfizer Inc. PFE1.8%+0.2 ppMar 2026
Biogen Inc. BIIB1.6%0.0 ppMar 2026
Grifols, S.A. GRFS1.4%0.0 ppMar 2026
Amarin Corporation plc AMRN-2.4%+0.8 ppMar 2026
Merck & Co., Inc. MRK-3.5%−10.4 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

3.5%
4.4%
4.1%
2.9%
4.0%
5.0%
2.5%
4.3%
2.2%
3.1%
2.6%
3.9%
3.8%
-1.5%
3.6%
5.0%
2.0%
4.9%
4.1%

Amgen Inc. · AMGN

4.5%
4.6%
5.2%
4.7%
5.3%
4.5%
3.2%
4.5%
3.3%
2.0%
1.3%
2.7%
2.8%
3.1%
1.7%
3.9%
3.6%
4.1%
4.0%

AstraZeneca PLC · AZN

-2.6%
-0.5%
1.5%
0.9%
1.6%
1.4%
3.4%
3.4%
2.9%
1.8%
4.3%
3.8%
2.9%
2.8%
4.9%
4.5%
4.5%
3.7%
5.4%

Bristol-Myers Squibb Company · BMY

1.8%
2.4%
2.7%
2.6%
2.5%
2.0%
3.0%
2.3%
2.6%
1.8%
-15%
2.2%
2.8%
0.7%
4.7%
3.3%
4.3%
2.1%
4.8%

Eli Lilly and Company · LLY

5.7%
5.6%
7.0%
3.8%
5.1%
5.6%
4.2%
6.3%
1.3%
6.9%
6.1%
9.2%
3.5%
12%
7.1%
13%
12%
13%
13%

Gilead Sciences, Inc. · GILD

7.1%
1.7%
0.4%
3.6%
5.2%
4.2%
3.2%
3.3%
5.1%
3.1%
-9.1%
5.8%
1.9%
5.0%
5.1%
5.7%
7.5%
4.2%
5.7%

GSK plc · GSK

2.4%
0.9%
3.7%
2.0%
2.5%
4.0%
4.0%
4.8%
5.0%
1.5%
3.9%
4.4%
0.5%
1.8%
5.6%
5.3%
6.8%
2.8%
5.7%

Johnson & Johnson · JNJ

4.3%
4.0%
4.4%
4.6%
4.1%
3.5%
4.3%
4.4%
4.5%
4.7%
4.7%
4.1%
2.9%
4.8%
5.0%
5.3%
4.0%
4.5%
10%

Merck & Co., Inc. · MRK

6.9%
4.9%
7.5%
6.5%
5.2%
4.1%
4.4%
-6.3%
6.9%
-2.4%
6.8%
7.2%
4.6%
5.1%
6.9%
5.6%
6.9%
3.9%
-3.5%

Novartis AG · NVS

3.4%
2.6%
3.1%
2.3%
2.0%
1.8%
3.0%
3.2%
2.3%
3.2%
4.6%
5.4%
5.2%
4.8%
7.0%
6.8%
6.0%
4.6%
5.4%
5.8%

Pfizer Inc. · PFE

5.6%
6.5%
8.1%
6.2%
4.1%
1.4%
-2.0%
2.0%
-0.1%
2.6%
0.0%
1.6%
1.8%
1.9%
-1.0%
1.8%

Sanofi · SNY

3.1%
1.5%
2.5%
1.5%
2.7%
4.1%
2.1%
1.9%
3.0%
0.3%
1.2%
1.6%
3.4%
0.9%
2.3%
1.5%
3.6%
-1.0%
2.1%

ROCE change · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

+0.5 pp
+0.6 pp
−1.6 pp
+1.4 pp
−1.8 pp
−1.9 pp
+0.1 pp
−0.4 pp
+1.6 pp
−4.6 pp
+1.0 pp
+1.1 pp
−1.8 pp
+6.4 pp
+0.5 pp

Amgen Inc. · AMGN

+0.8 pp
−0.1 pp
−2.0 pp
−0.2 pp
−2.0 pp
−2.5 pp
−1.9 pp
−1.8 pp
−0.5 pp
+1.1 pp
+0.4 pp
+1.2 pp
+0.8 pp
+1.0 pp
+2.3 pp

AstraZeneca PLC · AZN

+4.2 pp
+1.9 pp
+1.9 pp
+2.5 pp
+1.3 pp
+0.4 pp
+0.9 pp
+0.4 pp
0.0 pp
+1.0 pp
+0.6 pp
+0.7 pp
+1.6 pp
+0.9 pp
+0.5 pp

Bristol-Myers Squibb Company · BMY

+0.7 pp
−0.4 pp
+0.3 pp
−0.3 pp
+0.1 pp
−0.2 pp
−18.4 pp
−0.1 pp
+0.2 pp
−1.1 pp
+20.1 pp
+1.1 pp
+1.5 pp
+1.4 pp
+0.1 pp

Eli Lilly and Company · LLY

−0.6 pp
0.0 pp
−2.8 pp
+2.5 pp
−3.8 pp
+1.3 pp
+1.9 pp
+2.9 pp
+2.2 pp
+4.9 pp
+1.0 pp
+3.7 pp
+8.2 pp
+1.3 pp
+5.7 pp

Gilead Sciences, Inc. · GILD

−1.9 pp
+2.5 pp
+2.8 pp
−0.3 pp
−0.1 pp
−1.1 pp
−12.3 pp
+2.5 pp
−3.2 pp
+1.9 pp
+14.2 pp
−0.1 pp
+5.6 pp
−0.8 pp
+0.6 pp

GSK plc · GSK

+0.1 pp
+3.1 pp
+0.3 pp
+2.8 pp
+2.5 pp
−2.5 pp
−0.1 pp
−0.4 pp
−4.5 pp
+0.3 pp
+1.7 pp
+0.9 pp
+6.3 pp
+1.0 pp
+0.1 pp

Johnson & Johnson · JNJ

−0.2 pp
−0.5 pp
−0.1 pp
−0.2 pp
+0.4 pp
+1.2 pp
+0.4 pp
−0.3 pp
−1.6 pp
+0.1 pp
+0.3 pp
+1.2 pp
+1.1 pp
−0.3 pp
+5.3 pp

Merck & Co., Inc. · MRK

−1.7 pp
−0.8 pp
−3.1 pp
−12.8 pp
+1.7 pp
−6.5 pp
+2.4 pp
+13.5 pp
−2.3 pp
+7.5 pp
+0.1 pp
−1.6 pp
+2.3 pp
−1.2 pp
−10.4 pp

Novartis AG · NVS

−1.4 pp
−0.8 pp
−0.1 pp
+0.9 pp
+0.3 pp
+1.4 pp
+1.6 pp
+2.2 pp
+2.9 pp
+1.6 pp
+2.4 pp
+1.4 pp
+0.8 pp
−0.2 pp
−1.6 pp
−1.0 pp

Pfizer Inc. · PFE

+0.6 pp
−2.4 pp
−6.7 pp
−8.2 pp
−4.2 pp
+1.2 pp
+2.0 pp
−0.4 pp
+1.9 pp
−0.7 pp
−1.0 pp
+0.2 pp

Sanofi · SNY

−0.4 pp
+2.6 pp
−0.4 pp
+0.4 pp
+0.3 pp
−3.8 pp
−0.9 pp
−0.3 pp
+0.4 pp
+0.6 pp
+1.1 pp
−0.1 pp
+0.2 pp
−1.9 pp
−0.2 pp
07 · compare level, then change

Valuation Against Growth & Quality

Organon & Co. has the lowest Guarded PEG among the 16 Drug Manufacturers - General companies compared here, at 0.17×. Gilead Sciences, Inc. is next at 0.35×. Grifols, S.A. has the lowest P/E at 6.22×, so level and change sit with different companies. 11 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Organon & Co. has the lowest comparable Guarded PEG at 0.17×, 51.4% below Gilead Sciences, Inc.. Only 11 of 16 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderOrganon & Co. · 0.17×
Gap51.4% versus #2 · Gilead Sciences, Inc.
Persistence0/8 recent comparable periods
Coverage11/16 companies · 44 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Organon & Co. OGN0.2
2Gilead Sciences, Inc. GILD0.4
3Biogen Inc. BIIB0.4
4Bristol-Myers Squibb Company BMY0.5
5Sanofi SNY0.6
P/Elowest P/E
1Grifols, S.A. GRFS6.2
2Organon & Co. OGN6.4
3Sanofi SNY13.4
4GSK plc GSK14.6
5Bristol-Myers Squibb Company BMY17.0
Valuation · company comparison
11/16 level · 16/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Eli Lilly and Company LLY8.632.7Mar 2026
Novartis AG NVS2.423.6Jun 2026
Merck & Co., Inc. MRK1.833.9Mar 2026
AstraZeneca PLC AZN1.859.3Mar 2026
Amgen Inc. AMGN0.824.5Mar 2026
Grifols, S.A. GRFS0.76.2Mar 2026
Sanofi SNY0.613.4Mar 2026
Bristol-Myers Squibb Company BMY0.517.0Mar 2026
Biogen Inc. BIIB0.419.7Mar 2026
Gilead Sciences, Inc. GILD0.419.0Mar 2026
Organon & Co. OGN0.26.4Mar 2026
Johnson & Johnson JNJ29.4Jun 2026
AbbVie Inc. ABBV107.1Mar 2026
Pfizer Inc. PFE20.6Mar 2026
GSK plc GSK14.6Mar 2026
Amarin Corporation plc AMRN168.5Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Amgen Inc. · AMGN

0.4
0.6
1.5
0.5
0.8

AstraZeneca PLC · AZN

1.9
7.4
3.4
2.7
1.9
1.1
1.2
1.8

Biogen Inc. · BIIB

0.5
1.7
0.3
0.5
0.4

Bristol-Myers Squibb Company · BMY

0.9
0.7
0.5
0.4
0.5

Eli Lilly and Company · LLY

4.5
14.4
8.6

Gilead Sciences, Inc. · GILD

0.8
0.5
0.8
0.4

Grifols, S.A. · GRFS

0.7

Merck & Co., Inc. · MRK

0.6
0.2
1.8

Novartis AG · NVS

0.9
2.4

Organon & Co. · OGN

0.3
0.1
0.2

Sanofi · SNY

0.6
0.5
0.3
0.5
0.6

P/E · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

25.7
21.0
23.3
21.7
17.9
24.4
37.7
27.7
40.8
57.0
54.0
57.2
68.6
74.4
89.2
88.4
175.4
96.8
107.1

Amgen Inc. · AMGN

21.9
21.9
23.8
20.6
18.1
21.7
16.4
15.0
19.1
23.1
40.6
53.8
41.3
34.5
28.4
22.8
21.8
23.0
24.5

AstraZeneca PLC · AZN

190.0
2,896.3
163.5
129.1
92.8
72.7
71.3
70.6
67.3
75.5
74.7
57.8
59.2
52.6
49.7
53.7
59.3

Bristol-Myers Squibb Company · BMY

20.0
25.9
25.6
23.2
24.4
20.2
17.0
14.7
13.3
22.8
18.7
15.2
15.6
17.0

Eli Lilly and Company · LLY

35.2
45.1
42.4
51.7
48.6
53.0
54.6
65.2
97.3
100.5
114.6
111.5
95.8
65.9
67.2
51.0
37.3
46.8
32.7

Gilead Sciences, Inc. · GILD

11.9
14.7
16.6
18.8
23.3
23.6
18.7
17.7
16.1
18.0
203.5
83.7
931.6
243.1
23.6
22.1
17.2
18.1
19.0

GSK plc · GSK

13.3
15.1
13.1
15.9
3.9
4.0
4.2
3.9
10.0
12.1
15.6
15.5
25.1
21.7
19.6
16.9
12.0
13.1
14.6

Johnson & Johnson · JNJ

24.0
21.9
24.0
26.1
22.8
26.3
33.2
34.3
11.7
10.4
9.6
26.6
24.8
18.3
16.2
17.2
18.8
28.3
29.4

Merck & Co., Inc. · MRK

28.6
15.8
14.6
13.9
14.3
19.4
20.8
94.6
57.2
778.7
146.6
23.0
23.8
14.8
13.1
12.2
11.1
14.5
33.9

Novartis AG · NVS

17.9
7.8
7.7
7.8
7.4
27.1
26.8
26.6
25.9
14.2
13.1
13.5
13.4
16.6
17.5
17.6
17.5
19.3
21.9
23.6

Pfizer Inc. · PFE

12.4
11.7
10.2
8.4
8.0
9.8
18.1
39.3
18.8
18.3
12.9
13.8
18.3
20.6

Sanofi · SNY

16.9
17.8
17.4
18.0
15.2
13.6
15.0
14.3
14.0
20.9
24.8
26.9
28.7
20.9
20.3
11.1
10.8
13.0
13.4
08 · compare level, then change

Enterprise Value & Book Value

Amarin Corporation plc has the lowest EV/EBITDA among the 16 Drug Manufacturers - General companies compared here, at 0.13×. Organon & Co. is next at 6.06×. Grifols, S.A. has the lowest P/BV at 0.6×, so level and change sit with different companies. 16 of 16 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Amarin Corporation plc leads ev/ebitda at 0.13×; Grifols, S.A. leads p/bv at 0.6×.

LeaderAmarin Corporation plc · 0.13×
Gap97.9% versus #2 · Organon & Co.
Persistence0/8 recent comparable periods
Coverage16/16 companies · 288 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Amarin Corporation plc AMRN0.1
2Organon & Co. OGN6.1
3Grifols, S.A. GRFS8.8
4Biogen Inc. BIIB10.6
5Bristol-Myers Squibb Company BMY11.6
P/BVlowest P/BV
1Grifols, S.A. GRFS0.6
2Amarin Corporation plc AMRN0.7
3Sanofi SNY1.4
4Biogen Inc. BIIB1.5
5Pfizer Inc. PFE1.7
Enterprise and book valuation · company comparison
16/16 level · 15/16 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
AstraZeneca PLC AZN31.712.9Mar 2026
Eli Lilly and Company LLY25.626.3Mar 2026
Johnson & Johnson JNJ23.47.3Jun 2026
AbbVie Inc. ABBV19.2-57.7Mar 2026
Sanofi SNY18.81.4Mar 2026
Merck & Co., Inc. MRK18.76.5Mar 2026
Amgen Inc. AMGN15.220.7Mar 2026
Novartis AG NVS15.17.2Jun 2026
Gilead Sciences, Inc. GILD14.37.4Mar 2026
Pfizer Inc. PFE14.21.7Mar 2026
GSK plc GSK12.44.7Mar 2026
Bristol-Myers Squibb Company BMY11.76.2Mar 2026
Biogen Inc. BIIB10.61.5Mar 2026
Grifols, S.A. GRFS8.80.6Mar 2026
Organon & Co. OGN6.11.7Mar 2026
Amarin Corporation plc AMRN0.10.7Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

10.3
11.6
13.1
13.0
11.4
12.8
13.6
11.1
13.0
14.9
17.6
17.3
18.6
21.4
23.6
20.4
27.3
20.1
19.2

Amgen Inc. · AMGN

13.5
13.7
14.0
12.5
11.4
13.1
12.8
11.2
13.6
17.4
17.9
19.6
19.0
14.6
16.6
14.5
14.0
15.6
15.2

AstraZeneca PLC · AZN

50.4
50.5
62.5
59.8
41.6
48.2
41.4
36.3
32.5
32.4
32.5
36.0
34.3
25.6
28.0
25.3
25.2
29.2
31.7

Bristol-Myers Squibb Company · BMY

9.9
9.0
10.0
10.2
9.4
9.8
9.4
9.2
8.5
7.7
46.5
39.0
41.7
72.7
10.6
9.0
8.9
10.3
11.7

Eli Lilly and Company · LLY

27.8
33.2
29.1
33.5
34.6
39.7
41.0
49.5
67.4
68.5
80.1
78.8
69.9
49.3
48.8
38.5
28.7
35.2
25.6

Gilead Sciences, Inc. · GILD

8.1
9.3
10.2
10.8
11.9
13.3
11.1
10.6
10.3
11.5
25.8
20.0
34.2
29.7
14.2
14.5
11.7
13.3
14.3

GSK plc · GSK

17.3
13.9
17.1
17.9
13.5
8.8
11.5
9.8
9.2
7.9
13.4
13.3
19.2
10.3
15.7
13.8
10.5
8.5
12.4

Johnson & Johnson · JNJ

14.2
16.5
15.4
15.6
14.3
17.6
14.8
15.5
12.9
13.1
12.3
14.0
12.7
14.5
13.7
14.8
15.9
18.6
23.4

Merck & Co., Inc. · MRK

33.5
13.9
12.1
11.2
10.8
13.7
14.6
33.1
24.8
48.8
44.7
17.4
17.4
11.3
10.2
9.5
8.8
10.9
18.7

Novartis AG · NVS

11.2
12.0
16.2
17.1
10.2
12.8
23.7
23.8
23.6
12.0
20.4
20.1
12.6
10.2
11.3
11.6
11.7
12.5
14.8
15.1

Pfizer Inc. · PFE

9.2
9.3
8.1
6.5
6.5
7.8
11.9
45.3
87.3
20.6
12.9
13.2
10.8
11.5
13.7
14.2

Sanofi · SNY

10.2
10.7
11.0
11.4
9.2
9.2
10.1
9.7
9.0
10.8
20.1
21.0
15.0
11.7
17.0
13.1
7.7
9.5
18.8

P/BV · reported quarter history

Showing the 12 largest of 16 companies with a series here. The remaining 4 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AbbVie Inc. · ABBV

14.1
15.5
17.6
18.5
14.8
16.6
21.2
18.5
21.8
26.4
40.2
44.7
57.9
94.3
260.6
-1,791.3
-154.9
-123.5
-57.7

Amgen Inc. · AMGN

14.6
18.8
141.0
53.8
32.9
38.3
24.2
17.5
18.8
24.7
30.4
28.3
23.0
23.8
27.0
20.2
15.8
20.4
20.7

AstraZeneca PLC · AZN

9.5
9.1
11.5
11.1
9.5
11.4
12.1
11.9
11.3
10.7
11.3
12.3
11.9
9.9
11.1
9.7
10.1
11.2
12.9

Bristol-Myers Squibb Company · BMY

3.5
3.8
4.9
5.0
4.6
4.9
4.6
4.2
4.1
3.5
6.7
5.0
6.1
7.0
7.1
5.4
5.0
5.9
6.2

Eli Lilly and Company · LLY

27.0
27.8
27.6
34.2
28.9
30.9
27.6
38.1
43.0
48.7
54.7
60.1
56.0
48.6
47.0
38.3
28.7
36.2
26.3

Gilead Sciences, Inc. · GILD

4.1
4.3
3.7
3.8
3.7
5.0
4.9
4.5
4.2
4.4
5.2
4.7
5.7
6.0
7.3
7.0
6.4
6.7
7.4

GSK plc · GSK

3.7
4.2
4.4
5.9
5.9
4.9
4.5
4.6
4.4
5.0
4.3
4.5
4.0
4.3
3.9
4.0
4.5
4.7

Johnson & Johnson · JNJ

6.0
6.1
6.3
6.2
5.7
6.0
5.7
5.8
5.3
5.4
4.9
5.5
4.9
5.1
4.7
5.5
6.1
7.3

Merck & Co., Inc. · MRK

5.3
5.1
5.1
5.3
4.9
6.1
5.8
7.6
6.3
7.3
8.3
7.2
6.5
5.4
4.7
4.0
4.0
5.0
6.5

Novartis AG · NVS

3.1
2.7
3.0
2.8
2.5
3.1
3.5
3.8
5.2
4.4
5.0
5.2
5.3
4.4
5.7
5.6
5.6
5.7
7.6
7.2

Pfizer Inc. · PFE

3.2
3.5
3.4
2.7
2.3
2.1
1.9
1.7
1.8
1.8
1.7
1.6
1.6
1.5
1.6
1.7

Sanofi · SNY

1.5
1.6
1.6
1.7
1.3
1.5
1.7
1.7
1.7
1.5
1.6
1.6
1.7
1.5
1.7
1.4
1.4
1.4
1.4
09 · let price answer last

Market action

Merck & Co., Inc. has the strongest one-year price move in Drug Manufacturers - General at +66.3%. Organon & Co. leads on Mansfield relative strength against the S&P 500 at +30.8%. 10 of 16 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Drug Manufacturers - General comparison names 4 specific ways its own evidence can mislead, all listed below. All 16 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
10 · the complete set

Which companies are included?

All 16 companies in the canonical Drug Manufacturers - General membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentals
Eli Lilly and Company LLYAHEAD$1.1T$1,2212026-07-28Mar 2026
Johnson & Johnson JNJAHEAD$642.8B$2672026-07-28Jun 2026
AbbVie Inc. ABBVAHEAD$465.0B$2632026-07-28Mar 2026
Merck & Co., Inc. MRKAHEAD$325.6B$1322026-07-28Mar 2026
Novartis AG NVS$303.3B$1602026-07-28Jun 2026
AstraZeneca PLC AZN$267.0B$1722026-07-28Mar 2026
Amgen Inc. AMGNAHEAD$212.2B$3932026-07-28Mar 2026
Gilead Sciences, Inc. GILD$166.8B$1342026-07-28Mar 2026
Pfizer Inc. PFE$143.9B$25.32026-07-28Mar 2026
Bristol-Myers Squibb Company BMY$129.9B$63.62026-07-28Mar 2026
Sanofi SNYLAGGING, FUNDAMENTALS UP$108.7B$45.52026-07-28Mar 2026
GSK plc GSK$107.5B$53.72026-07-28Mar 2026
Biogen Inc. BIIB$30.4B$2062026-07-28Mar 2026
Grifols, S.A. GRFSLAGGING, FUNDAMENTALS UP$6.9B$8.02026-07-28Mar 2026
Organon & Co. OGN18/26 WEEKS$3.6B$13.52026-07-28Mar 2026
Amarin Corporation plc AMRN$293M$14.02026-07-28Mar 2026
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 16 Drug Manufacturers - General companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers

Drug Manufacturers - General company comparison FAQs

These 18 answers restate the Drug Manufacturers - General comparison above in question form. Every one is computed from the same 16 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Drug Manufacturers - General company is the biggest?

Johnson & Johnson is the largest, with trailing-twelve-month revenue of $97,929 million, ahead of Eli Lilly and Company at $72,250 million. That covers 16 of 16 companies with comparable reporting through Jun 2026.

Which Drug Manufacturers - General company is growing fastest?

Eli Lilly and Company has the fastest revenue growth at 47.4% year on year, across 16 of 16 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Drug Manufacturers - General company has the best profit margins?

Eli Lilly and Company has the highest operating margin at 45%, from 16 of 16 comparable companies. Amgen Inc. shows the biggest recent improvement, at +16.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Drug Manufacturers - General company makes the most profit?

Eli Lilly and Company earns the most, at $25,278 million of trailing-twelve-month net profit, from 16 of 16 comparable companies. Eli Lilly and Company has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Drug Manufacturers - General company earns the highest return on capital?

Eli Lilly and Company leads on return on capital employed at 12.8%, across 16 of 16 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Drug Manufacturers - General stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Organon & Co. screens cheapest at 0.17×. Only 11 of 16 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Drug Manufacturers - General company has the strongest balance sheet?

Amarin Corporation plc carries the lowest comparable gross debt at $6 million, from 16 of 16 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Drug Manufacturers - General company is investing most in new capacity?

Eli Lilly and Company reports the largest capital spending at $2,326 million, across 16 of 16 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Drug Manufacturers - General sector beating the market?

Drug Manufacturers - General has outperformed S&P 500 by 10% over the last 52 weeks and 5.7% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 10 of 16 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Drug Manufacturers - General stock has the strongest price momentum?

Organon & Co. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Drug Manufacturers - General company scores highest for research priority?

Eli Lilly and Company scores 70.1 out of 100 with 82% evidence confidence, from 31.1 points on growth and earnings, 15.6 on capital efficiency, 4.3 on valuation and 19.1 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Drug Manufacturers - General companies does this comparison cover, and over what period?

It compares 16 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Drug Manufacturers - General sector?

The 16 Drug Manufacturers - General companies on this page carry $4,002,206 million of combined market value. Eli Lilly and Company is the largest at $1,088,513 million, about 27% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Drug Manufacturers - General sector's P/E ratio?

The median price-to-earnings ratio across the 16 Drug Manufacturers - General companies on this page is 23.6×, measured on the 16 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Drug Manufacturers - General sector performing?

10 of the 16 covered Drug Manufacturers - General companies are beating S&P 500 on Mansfield relative strength. The sector itself is 10% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Drug Manufacturers - General stocks are listed in the US?

This comparison covers 16 listed Drug Manufacturers - General companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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