LLY - Could Eli Lilly Be the Next to Join the Trillion-Dollar Club?
2024-05-29 06:15:00 ET
Companies with a trillion-dollar market value have several key things in common. They have a track record of earnings growth, sell products or services people depend on, and their prospects for future growth look bright. Great examples are Microsoft , Apple , and Amazon -- valued at $3.1 trillion, $2.9 trillion, and $1.8 trillion, respectively. These trillion-dollar companies also happen to be operating in the technology industry, one that's known for growth and innovation.
Perhaps the next in line to enter this unofficial "trillion-dollar club" shares all of those points except one. This company isn't a technology player. Instead, it's in the business of pharmaceuticals, an area generally associated more with slow and steady earnings progression rather than explosive growth. Eli Lilly (NYSE: LLY) in recent times, though, has looked more like a high-growth company, generating double-digit quarterly earnings growth thanks to new medicines that have taken the world by storm.
Could Eli Lilly, from a current market cap of more than $700 billion, really reach a market value of more than $1 trillion? Let's find out.
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Could Eli Lilly Be the Next to Join the Trillion-Dollar Club?