Elanco Animal Health Inc
ELAN · Pharmaceutical Preparations · 499.4M shares · +7%/yr ↑ dilution · EDGAR filings ↗
Reference price $20.35 · est. market cap ~$10.2B — last insider purchase, 2026-05-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Animal-health company — net loss on amortization but strong free cash flow, with leverage.
Strengths
- Strong free cash flow — FCF $284M (93rd), FCF margin 6%
- Durable, diversified animal-health franchise — per 10-K
Risks
- Net loss (amortization/charges) — net margin -5%, ROA -2% (84th)
- Leverage — D/E 0.57 (73rd)
- Generic/competitive pressure — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -4.9%)
- Customer concentration~51% of revenue from one customer/distributor — For the years ended December 31, 2025 and 2024, approximately 51% and 53%, respectively, of our revenue was denominated in foreign currencies
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $545M cash & investments
- Insider buyingInsider buying — 2 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$199,781, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
55.0%
Net margin
-4.9%
Return on equity
-3.5%
Return on assets
-1.7%
Revenue growth (QoQ)
19.8%
Net-income growth
-168.6%
Debt / equity
0.6×
Current ratio
2.2×
Free cash flow
$284M
Tangible book value
-$1.6B
Cash & investments
$545M
Stock comp / revenue
1.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | Ma Stacey | Grant | 12K | — |
| 2026-05-21 | Anand Kapila K | Grant | 4.7K | — |
| 2026-05-21 | Ma Stacey | Grant | 4.7K | — |
| 2026-05-21 | Anand Kapila K | Grant | 12K | — |
| 2026-05-21 | Harrington Michael J | Grant | 4.7K | — |
| 2026-05-21 | Harrington Michael J | Grant | 12K | — |
| 2026-05-21 | McDonald Kirk P | Grant | 4.7K | — |
| 2026-05-21 | McDonald Kirk P | Grant | 12K | — |
| 2026-05-21 | Kochevar Deborah Turner | Grant | 4.7K | — |
| 2026-05-21 | Herendeen Paul | Grant | 4.7K | — |
| 2026-05-21 | Herendeen Paul | Grant | 12K | — |
| 2026-05-21 | Kurzius Lawrence Erik | Grant | 4.7K | — |
| 2026-05-21 | Kurzius Lawrence Erik | Grant | 12K | — |
| 2026-05-21 | Scots-Knight Denise | Grant | 4.7K | — |
| 2026-05-21 | Scots-Knight Denise | Grant | 12K | — |
| 2026-05-21 | HOOVER R DAVID | Grant | 4.7K | — |
| 2026-05-21 | GARCIA ART A | Grant | 4.7K | — |
| 2026-05-21 | GARCIA ART A | Grant | 12K | — |
| 2026-05-15 | Modi Rajeev A. | Buy | 4.9K | $20.35 |
| 2026-05-15 | Simmons Jeffrey N | Buy | 5.0K | $20.09 |
| 2026-04-01 | de Brabander Ellen | Grant | 41K | — |
| 2026-04-01 | de Brabander Ellen | Tax withheld | 20K | $23.12 |
| 2026-03-03 | O'Neill Shiv | Tax withheld | 4.7K | $24.88 |
| 2026-03-03 | McArdle Grace | Tax withheld | 4.3K | $24.88 |
| 2026-03-03 | Modi Rajeev A. | Tax withheld | 4.4K | $24.88 |
| 2026-03-03 | de Brabander Ellen | Tax withheld | 8.3K | $24.88 |
| 2026-03-03 | Correia de Simas Jose Manuel | Tax withheld | 3.4K | $24.88 |
| 2026-03-03 | Bettington Timothy J | Tax withheld | 4.7K | $24.88 |
| 2026-03-03 | Meer James M | Tax withheld | 1.4K | $24.88 |
| 2026-03-03 | Kinard David S | Tax withheld | 3.4K | $24.88 |
| 2026-03-03 | Cabral Ramiro Martin | Tax withheld | 6.5K | $24.88 |
| 2026-03-03 | Simmons Jeffrey N | Tax withheld | 38K | $24.88 |
| 2026-03-01 | O'Neill Shiv | Grant | 33K | — |
| 2026-03-01 | O'Neill Shiv | Tax withheld | 13K | $26.40 |
| 2026-03-01 | O'Neill Shiv | Grant | 15K | — |
| 2026-03-01 | McArdle Grace | Grant | 30K | — |
| 2026-03-01 | McArdle Grace | Tax withheld | 12K | $26.40 |
| 2026-03-01 | McArdle Grace | Grant | 14K | — |
| 2026-03-01 | Modi Rajeev A. | Grant | 42K | — |
| 2026-03-01 | Modi Rajeev A. | Tax withheld | 19K | $26.40 |
| 2026-03-01 | Modi Rajeev A. | Grant | 14K | — |
| 2026-03-01 | de Brabander Ellen | Grant | 68K | — |
| 2026-03-01 | de Brabander Ellen | Tax withheld | 46K | $26.40 |
| 2026-03-01 | de Brabander Ellen | Grant | 25K | — |
| 2026-03-01 | Correia de Simas Jose Manuel | Grant | 22K | — |
| 2026-03-01 | Correia de Simas Jose Manuel | Tax withheld | 9.9K | $26.40 |
| 2026-03-01 | Correia de Simas Jose Manuel | Grant | 11K | — |
| 2026-03-01 | Bettington Timothy J | Grant | 46K | — |
| 2026-03-01 | Bettington Timothy J | Tax withheld | 18K | $26.40 |
| 2026-03-01 | Bettington Timothy J | Grant | 9.5K | — |
| 2026-03-01 | Meer James M | Grant | 9.6K | — |
| 2026-03-01 | Meer James M | Tax withheld | 4.8K | $26.40 |
| 2026-03-01 | Meer James M | Grant | 5.2K | — |
| 2026-03-01 | Kinard David S | Grant | 33K | — |
| 2026-03-01 | Kinard David S | Tax withheld | 15K | $26.40 |
| 2026-03-01 | Kinard David S | Grant | 9.5K | — |
| 2026-03-01 | Cabral Ramiro Martin | Grant | 60K | — |
| 2026-03-01 | Cabral Ramiro Martin | Tax withheld | 30K | $26.40 |
| 2026-03-01 | Cabral Ramiro Martin | Grant | 21K | — |
| 2026-03-01 | VanHimbergen Robert M | Grant | 24K | — |
| 2026-03-01 | Simmons Jeffrey N | Grant | 397K | — |
| 2026-03-01 | Simmons Jeffrey N | Tax withheld | 230K | $26.40 |
| 2026-03-01 | Simmons Jeffrey N | Grant | 119K | — |
| 2025-12-19 | HOOVER R DAVID | Gift | 60K | — |
| 2025-12-12 | Kurzius Lawrence Erik | Buy | 10K | $21.30 |
| 2025-12-11 | Simmons Jeffrey N | Buy | 22K | $21.75 |
| 2025-12-11 | Modi Rajeev A. | Buy | 4.5K | $21.33 |
| 2025-12-11 | VanHimbergen Robert M | Buy | 7.0K | $21.64 |
| 2025-11-28 | Scots-Knight Denise | Grant | 10K | — |
| 2025-11-28 | HOOVER R DAVID | Grant | 10K | — |
| 2025-11-28 | Ma Stacey | Grant | 10K | — |
| 2025-11-28 | GARCIA ART A | Grant | 10K | — |
| 2025-11-28 | Anand Kapila K | Grant | 10K | — |
| 2025-11-28 | Harrington Michael J | Grant | 10K | — |
| 2025-11-28 | McDonald Kirk P | Grant | 10K | — |
| 2025-11-28 | Kochevar Deborah Turner | Grant | 10K | — |
| 2025-11-28 | Herendeen Paul | Grant | 10K | — |
| 2025-11-28 | Kurzius Lawrence Erik | Grant | 10K | — |
| 2025-10-01 | VanHimbergen Robert M | Grant | 110K | — |
| 2025-07-03 | Meer James M | Tax withheld | 1.2K | $14.64 |
| 2025-07-03 | McArdle Grace | Tax withheld | 4.3K | $14.64 |
| 2025-04-03 | Bettington Timothy J | Tax withheld | 24K | $9.72 |
| 2025-03-11 | Kurzius Lawrence Erik | Buy | 10K | $10.20 |
| 2025-03-07 | Kurzius Lawrence Erik | Buy | 10K | $10.90 |
| 2025-03-05 | HOOVER R DAVID | Buy | 25K | $10.90 |
| 2025-03-04 | YOUNG TODD S. | Gift | 2.0K | — |
| 2025-03-04 | YOUNG TODD S. | Gift | 2.0K | — |
| 2025-03-04 | YOUNG TODD S. | Gift | 4.0K | — |
| 2025-03-04 | YOUNG TODD S. | Gift | 4.0K | — |
| 2025-03-04 | YOUNG TODD S. | Gift | 2.0K | — |
| 2025-03-04 | YOUNG TODD S. | Gift | 2.0K | — |
| 2025-03-03 | Meer James M | Grant | 12K | — |
| 2025-03-03 | Correia de Simas Jose Manuel | Grant | 22K | — |
| 2025-03-03 | YOUNG TODD S. | Grant | 64K | — |
| 2025-03-03 | de Brabander Ellen | Grant | 51K | — |
| 2025-03-03 | Bettington Timothy J | Grant | 31K | — |
| 2025-03-03 | Simmons Jeffrey N | Grant | 265K | — |
| 2025-03-03 | Modi Rajeev A. | Grant | 29K | — |
| 2025-03-03 | O'Neill Shiv | Grant | 31K | — |
| 2025-03-03 | Cabral Ramiro Martin | Grant | 44K | — |
| 2025-03-03 | Kinard David S | Grant | 22K | — |
| 2025-03-03 | McArdle Grace | Grant | 28K | — |
| 2025-03-01 | YOUNG TODD S. | Tax withheld | 18K | $11.17 |
| 2025-03-01 | Bettington Timothy J | Tax withheld | 3.5K | $11.17 |
| 2025-03-01 | Simmons Jeffrey N | Tax withheld | 76K | $11.17 |
| 2025-03-01 | O'Neill Shiv | Tax withheld | 3.9K | $11.17 |
| 2025-03-01 | Modi Rajeev A. | Tax withheld | 6.6K | $11.17 |
| 2025-03-01 | Meer James M | Tax withheld | 2.4K | $11.17 |
| 2025-03-01 | Correia de Simas Jose Manuel | Tax withheld | 4.7K | $11.17 |
| 2025-03-01 | McArdle Grace | Tax withheld | 3.4K | $11.17 |
| 2025-03-01 | de Brabander Ellen | Tax withheld | 15K | $11.17 |
| 2025-03-01 | Cabral Ramiro Martin | Tax withheld | 12K | $11.17 |
| 2025-03-01 | Kinard David S | Tax withheld | 7.2K | $11.17 |
| 2025-02-19 | Meer James M | Grant | 7.8K | — |
| 2025-02-19 | Meer James M | Tax withheld | 2.7K | $11.24 |
| 2025-02-19 | Kinard David S | Grant | 40K | — |
| 2025-02-19 | Kinard David S | Tax withheld | 18K | $11.24 |
| 2025-02-19 | Cabral Ramiro Martin | Grant | 68K | — |
| 2025-02-19 | Cabral Ramiro Martin | Tax withheld | 30K | $11.24 |
| 2025-02-19 | YOUNG TODD S. | Grant | 105K | — |
| 2025-02-19 | YOUNG TODD S. | Tax withheld | 46K | $11.24 |
| 2025-02-19 | Correia de Simas Jose Manuel | Grant | 26K | — |
| 2025-02-19 | Correia de Simas Jose Manuel | Tax withheld | 12K | $11.24 |
| 2025-02-19 | Simmons Jeffrey N | Grant | 449K | — |
| 2025-02-19 | Simmons Jeffrey N | Tax withheld | 196K | $11.24 |
| 2025-02-19 | McArdle Grace | Grant | 8.0K | — |
| 2025-02-19 | McArdle Grace | Tax withheld | 2.6K | $11.24 |
| 2025-02-19 | de Brabander Ellen | Grant | 141K | — |
| 2025-02-19 | de Brabander Ellen | Tax withheld | 70K | $11.24 |
| 2025-02-19 | Modi Rajeev A. | Grant | 42K | — |
| 2025-02-19 | Modi Rajeev A. | Tax withheld | 19K | $11.24 |
| 2025-02-19 | O'Neill Shiv | Grant | 6.0K | — |
| 2025-02-19 | O'Neill Shiv | Tax withheld | 2.9K | $11.24 |
| 2025-01-03 | Meer James M | Tax withheld | 414 | $11.98 |
| 2025-01-03 | McArdle Grace | Tax withheld | 351 | $11.98 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-27 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2026-01-12 | Reg FDExhibits | filing ↗ |
| 2025-12-09 | 2.05Reg FDExhibits | filing ↗ |
| 2025-11-05 | ResultsExhibits | filing ↗ |
| 2025-11-03 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-27 | 2026-05-21 | 0001104659-26-067002 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001739104-26-000030 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001739104-26-000027 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001739104-26-000008 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001739104-26-000012 ↗ |
| 8-K | 2026-01-12 | 2026-01-12 | 0001104659-26-002723 ↗ |
| 8-K | 2025-12-09 | 2025-12-05 | 0001104659-25-119486 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001739104-25-000071 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001739104-25-000068 ↗ |
| 8-K | 2025-11-03 | 2025-10-31 | 0001104659-25-105246 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001739104-25-000055 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001739104-25-000052 ↗ |