Elanco Animal Health Incorporated (ELAN) Stock Price & Analysis
Elanco Animal Health Incorporated (ELAN) closed at USD 22.69 on Thursday, October 22, 2026, up 0.62% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 22.55; the Oct 22, 2026 session ranged USD 22.35–22.84 on volume of 4,452,427 shares. Market capitalization is $11.33B, with a 52-week range of USD 19.4–27.98 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:16 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ELAN.md
Key facts (ELAN)
- Last four reported quarters (through Jun 30, 2026): revenue $5.02B, net income -$199M (-4.0% margin), free cash flow $379M (SEC filings).
- 2 of 80 tracked superinvestors hold ELAN (13F, Q2 2026): 0 new, 0 added, 2 reduced, 0 unchanged.
- Analysts: Buy (mean 1.94 on a 1–5 scale) (16 analysts), mean target USD 30.31 (range 24–34).
- Total return with dividends: 1Y +4.2% vs S&P 500 +14.9%; 5Y -33.1% vs S&P 500 +80.3%.
- Next earnings: 2026-11-06, EPS estimate USD 0.21, revenue estimate $1.21B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ELAN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.76B | $4.41B | $4.42B | $4.44B | $4.71B | $5.02B |
| Gross profit | $2.63B | $2.50B | $2.49B | $2.44B | $2.59B | — |
| Net income | -$483M | -$78.0M | -$1.23B | $338M | -$232M | -$199M |
| EPS (diluted) | -$0.99 | -$0.16 | -$2.50 | $0.68 | -$0.47 | — |
| Free cash flow | $324M | $281M | $131M | $394M | $284M | $379M |
| Gross margin | 55.2% | 56.6% | 56.3% | 54.9% | 55.0% | — |
| Net margin | -10.1% | -1.8% | -27.9% | 7.6% | -4.9% | -4.0% |
| Revenue growth | +45.6% | -7.4% | +0.1% | +0.5% | +6.2% | — |
| Cash + short-term investments | $638M | $345M | $352M | $468M | $545M | — |
| Total debt | $6.32B | $5.84B | $5.77B | $4.32B | $3.76B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (ELAN)
P/S 2.3x · EV/Sales 2.9x · P/FCF 29.9x · P/B 1.7x · FCF yield 3.34% · Earnings yield -1.76% · Net debt $3.13B · EV $14.5B
P/E at fiscal year-ends: Dec 2024 17.8x.
Superinvestors (SEC 13F-HR, Q2 2026) (ELAN)
2 of 80 tracked investors hold ELAN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Dodge & Cox Funds | Dodge & Cox | 0.87% | $1.66B | Reduced -2.2% |
| Lee Ainslie | Maverick Capital | 0.02% | $2.4M | Reduced -32.1% |
Analysts (ELAN)
Consensus Buy (mean 1.94 on a 1–5 scale), 16 analysts; mean target USD 30.31 (low 24, high 34).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Jefferies | Downgrade | Buy → Hold | $31 → $24 |
| 2026-10-16 | Goldman Sachs | Initiated | Buy | $32 |
| 2026-08-06 | UBS | Target raised | Buy | $31 → $33 |
| 2026-08-06 | Keybanc | Target raised | Overweight | $29 → $30 |
| 2026-07-22 | Morgan Stanley | Target raised | Equal-Weight | $23 → $26 |
Total return (dividends reinvested) (ELAN)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +4.2% | -33.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +4.2% | -7.7% |
| Volatility (annualized) | 42.2% | 42.5% |
| Max drawdown | -26.2% (Feb 2026→May 2026) | -75.6% (Nov 2021→May 2023) |
ELAN revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Pet Health | $718.0M | 52.5% | +11.7% |
| Farm Animal: | $633.0M | 46.3% | +8.6% |
| — Cattle (part of Farm Animal:) | $313.0M | 22.9% | +16.8% |
| — Poultry (part of Farm Animal:) | $223.0M | 16.3% | +3.7% |
| — Swine (part of Farm Animal:) | $97.0M | 7.1% | -3.0% |
| Contract Manufacturing | $17.0M | 1.2% | +13.3% |
| Total revenue | $1.37B | 100% | — |
ELAN revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| International | $705.0M | 51.5% | +8.8% |
| United States | $663.0M | 48.5% | +11.8% |
| Total revenue | $1.37B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ELAN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Cencora (COR) | “Our largest customer, an affiliate of Cencora, Inc., is a third-party veterinary distributor and represented approximately 12% of our total revenue in 2025.” |
| Partner | Tarsus Pharmaceuticals, Inc. (TARS) | “Pursuant to the PSA, we received a cash payment of $295 million from Blackstone for the rights to the proceeds from (a) the future royalties we are owed from net sales in the U.S. of XDEMVY® (lotilaner ophthalmic solution) 0.25%, a medical treatment for Demodex blepharitis in humans, by Tarsus Pharmaceuticals, Inc. (Tarsus) and (b) certain future sales milestone payments we are owed based on global net sales of XD…” |
| Competitor | Merck (MRK) | “Our primary competitors include animal health medicines and vaccines companies such as Zoetis Inc., Boehringer Ingelheim Animal Health GmbH, the animal health division of Boehringer Ingelheim GmbH, and Merck Animal Health, the animal health division of Merck & Co., Inc. We also compete with numerous other producers of animal health products throughout the world, including start-up companies working in the animal h…” |
Quoted from the company's 10-K filed Feb 24, 2026.
Companies that name ELAN in their SEC reports
| Relationship to ELAN | Company | Filing | Sentence |
|---|---|---|---|
| customer | Pacira BioSciences, Inc. (PCRX) | 10-K Feb 26, 2026 | “In December 2012, we entered into an Exclusive License, Development and Commercialization Agreement and related Supply Agreement with Aratana Therapeutics, Inc., a wholly owned subsidiary of Elanco Animal Health, Inc., or Aratana.” |
ELAN customer concentration
In the period ended Jun 30, 2026, a single direct customer accounted for 12% of revenue, per the company's 10-Q filed Aug 5, 2026. The company does not name it.
ELAN company outlook (results filed Aug 5, 2026)
- “Full Year Outlook and Innovation Target, Improving Year-End Net Leverage Ratio Target • Second Quarter 2026 Financial Results: ◦ Revenue of $1,368 million , an increase of 10% year-o ver-ye ar; 8% organic constant currency growth ◦ Reported Net Income of $54 million , Adjusted Net Income of $174 million ◦ Adjusted EBITDA of $288 million ;”
Quoted word-for-word from the SEC 8-K results press release.
ELAN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.21 | $0.19 | +6.2% | $1.21B | 12 |
| Next quarter (ends Dec 2026) | $0.19 | $0.20 | -5.4% | $1.19B | 11 |
| Current fiscal year (ends Dec 2026) | $1.14 | $1.07 | +6.7% | $5.13B | 14 |
| Next fiscal year (ends Dec 2027) | $1.29 | $1.20 | +7.5% | $5.41B | 14 |
ELAN options: expected move
Options price a move of about ±12.3% (±$2.80) by Nov 20, 2026, which includes earnings on Nov 6, 2026. Over the last 8 reports the stock moved ±10.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 54.3% | ±12.3% |
| Dec 18, 2026 | 56 | 47.9% | ±15.2% |
| Jan 15, 2027 | 84 | 45.0% | ±17.4% |
| Apr 16, 2027 | 175 | 46.9% | ±26.0% |
30-day implied volatility 53.5% vs 24.1% realized over the last 30 trading days. Put/call ratio (volume) 15. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:16 UTC)
| Price | USD 22.69 |
|---|---|
| Change | ▲ 0.62% (up) |
| Previous Close | USD 22.55 |
| Open | USD 22.43 |
| Day Range | USD 22.35 – 22.84 |
| 52-Week Range | USD 19.4 – 27.98 |
| Volume | 4,452,427 shares |
| Market Cap | $11.33B |
| Exchange | NYQ |
Technical Analysis (ELAN)
Nexqual's technical model rates ELAN "SELL" based on 1 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 09:16 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 44.07 (neutral) |
| vs SMA50 | Below (USD 23.21) |
| MACD | -0.05 (negative) |
Analyst Ratings (ELAN)
Wall Street analysts rate ELAN "Buy" based on 16 analysts, with a mean price target of USD 30.31 (range USD 24–34), per Nexqual as of October 23, 2026 at 09:16 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 16 |
| Mean Target | USD 30.31 |
| High Target | USD 34 |
| Low Target | USD 24 |
| Buy / Hold / Sell | 13 / 3 / 0 |
Earnings (ELAN)
| Next Earnings Date | 2026-11-06 |
|---|---|
| EPS Estimate | USD 0.21 |
| Revenue Estimate | $1.21B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.34 vs est 0.27 ▲ beat |
| 2026-03-31 | USD 0.4 vs est 0.34 ▲ beat |
| 2025-12-31 | USD 0.13 vs est 0.12 ▲ beat |
| 2025-09-30 | USD 0.19 vs est 0.13 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:16 UTC.
Financials & Fundamentals (ELAN)
| Total Revenue | $5.02B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +10.20% |
| Gross Margin | +55.36% |
| Operating Margin | +8.63% |
| Profit Margin | -3.96% |
| ROE | -2.98% |
| Debt / Equity | 0.64 |
| Current Ratio | 2.05 |
| Total Cash | $530.00M |
| Total Debt | $4.23B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $379.00M (7.5% of revenue) |
Source: Nexqual, October 23, 2026 at 09:16 UTC.
Financial Health Score (ELAN)
Nexqual rates Elanco Animal Health Incorporated's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:16 UTC.
| Growth | Solid — Revenue +6% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 55%, operating 9% (last 12 months) |
| Balance Sheet | Strong — $530M cash and investments vs $3.66B debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $379M (last 4 quarters to Jun 2026, SEC), 8% margin |
| Efficiency | Critical — ROE -3%, ROA 1.6% |
Ownership (ELAN)
| Insider Ownership | +1.21% |
|---|---|
| Institutional Ownership | +115.52% |
| Shares Outstanding | 499.45M |
| Float | 495.40M |
| Short % of Float | +11.86% |
Source: Nexqual, October 23, 2026 at 09:16 UTC.
Leadership (ELAN)
Elanco Animal Health Incorporated is led by Jeffrey N. Simmons, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:16 UTC.
| President, CEO & Director | Jeffrey N. Simmons |
|---|---|
| Executive VP & CFO | Robert M. VanHimbergen |
| Executive VP & President of Elanco International | Ramiro Martin Cabral |
| Executive Vice President of Research, Development & Regulatory Affairs | Ellen de Brabander |
| Executive Vice President of Center of Strategic Growth | Timothy J. Bettington |
Major Backers & Investors (ELAN)
Notable institutional backers of Elanco Animal Health Incorporated include Dodge & Cox Inc., FMR, LLC, Primecap Management Company, according to Nexqual as of October 23, 2026 at 09:16 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Dodge & Cox Inc. | 13.49% |
| FMR, LLC | 11.4% |
| Primecap Management Company | 9.1% |
| T. Rowe Price | 5.75% |
| Fidelity | 3.53% |
| Winslow Capital Management, LLC | 2.7% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 9.78% |
| Vanguard Group | 9.06% |
| Dimensional Fund Advisors | 5.09% |
| State Street | 3.22% |
Source: Nexqual, October 23, 2026 at 09:16 UTC.
From Elanco Animal Health Incorporated's Latest SEC 10-K Filing (filed 2026-02-24)
Key Strengths & Strategy (as disclosed to the SEC)
- Our policy is to vigorously protect, enforce and defend our rights to our intellectual property, and we actively seek to protect our proprietary information, including our trade secrets and proprietary know-how, through a variety of means, including by seeking to require our employees, consultants, advisors and partners to enter into confidentiality agreements and other arrangements upon the commencement of their employment or engagement.
- Go Beyond for Animals – Our strong portfolio, high-impact innovation, unique market approach and dedication to making life better allow us to go beyond for animals to address critical health needs and increase access to health products and services.
- Go Beyond for Customers – Our ability to reach the world's animals, along with our customer promise, to advocate, earn trust and solve big challenges to create value, allows us to go beyond for our customers, unlocking economic value for producers through science-based, scalable and sustainable solutions and supporting the professional wellness of veterinarians.
- Go Beyond for Our People – Our unique, purpose-driven culture encourages ownership, growth and wellbeing.
Partnerships
- While many of the patents and patent applications in our portfolio are the result of our own work, others have been developed in collaboration with partners, acquired through business transactions or licensed to us by third parties.
Legal & Regulatory Risks (Item 1A, quoted)
- Increased regulation or decreased governmental financial support relating to the raising, processing or consumption of farm animals could reduce demand for our farm animal products.
- We may incur substantial costs and receive adverse outcomes in litigation, regulatory investigations and other legal matters.
- Litigation matters and regulatory investigations, regardless of merit or ultimate outcome, are costly, divert management's attention and may materially adversely affect our reputation and the sale of and demand for our products.
- The actual or purported intellectual property rights of third parties may negatively affect our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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|---|---|---|---|
| RDY | Dr. Reddy's Laboratories Ltd | USD 13.23 | ▲ 0.3% |
| NBIX | Neurocrine Biosciences, Inc. | USD 143.29 | ▲ 1.4% |
| ALKS | Alkermes plc | USD 44.18 | ▲ 1.61% |
| AMRX | Amneal Pharmaceuticals, Inc. | USD 20.48 | ▲ 1.39% |
| HIMS | Hims & Hers Health, Inc. | USD 29.13 | ▼ 0.27% |
| LNTH | Lantheus Holdings, Inc. | USD 100.1 | ▼ 0.14% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:16 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt