Elanco Animal Health Incorporated
ELANHIGH VELOCITYFILING INTENSITYElanco Animal Health Incorporated reads as an High Velocity (composite 70/100); Selective Buyer deploying $36M across 4 disclosed transactions, down 99% vs the prior cycle · primary market Healthcare.
Lens
Disclosed M&A capital (2023–2025)
$36M
vs $5.4B in 2020–2022
Disclosed transactions
4
3/3 active fiscal years in window
Buyer archetype
Selective Buyer
Acquisition use is visible but targeted.
Composite score
70
High Velocity dominates · Filing Intensity
Behavioral posture, nine reads.
Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.
Active Acquirer
Companies actively deploying disclosed capital into M&A
- $5.4B disclosed buyer spend
Buyer Cadence
Buyer-side companies with recent filing activity
- Filed within 35d
- 116 8-Ks
Target Probability
Issuers showing target-side patterns from filings
- 7 activism filings
Spin/Carve
Issuers showing spin-off, carve-out, or sum-of-parts posture
- 7 activism filings
Pressure Watch
Issuers facing activism, governance, or control pressure
- 7 activism filings
- Latest activism 3.5y ago; discounted
Distress Watch
Issuers showing financial-distress filing patterns
- 7 activism filings
Restatement Risk
Issuers with accounting-integrity flags from filings
Capital Velocity
DominantIssuers with the highest filing-activity intensity
- 116 8-Ks
- 5 form types
Quiet Power
Large issuers with low signal volume and clean disclosure cadence
- Enterprise value $15.4B
- 10-Q 35d ago
- 2 active signals
Capital cadence.
Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.
Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $5,063M · Peak count: 2
| FY | Disclosed buys | Disclosed spend | Avg ticket | Audited tier |
|---|---|---|---|---|
| 2025 | 1 | N/A | N/A | N/A |
| 2024 | 1 | $36M | $36M | N/A |
| 2023 | 2 | N/A | N/A | N/A |
| 2022 | N/A | N/A | N/A | N/A |
| 2021 | N/A | $342M | N/A | N/A |
| 2020 | 1 | $5.1B | $5.1B | N/A |
Strategy posture.
The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.
Archetype mix
- Geographic Expansion20%
- Bolt On20%
- Platform20%
- Horizontal Consolidation20%
- Technology Acquisition20%
Strategy keywords
Terms recurring across recent 10-K acquisition disclosures.
- geographic_expansion
- bolt_on
- platform
- horizontal_consolidation
- technology_acquisition
Filing language.
Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.
“The animal health industry is highly competitive. Our competitors include standalone animal health businesses, the animal health businesses of large pharmaceutical companies, specialty animal health businesses, producers of nutritional health products and companies that mainly produce generic products.”
“The acquisition expands our pet health product category, advancing our planned portfolio mix transformation and creating a better balance between our farm animal and pet health product categories.”
“Our future growth depends on both our pipeline of new products, including new products we develop internally, develop with partners or that we are able to obtain through licenses or acquisitions.”
“We continue to pursue the development of new chemical and biological molecules, as well as additional registrations and indications for current products.”
“The acquisition complements our commercial operations and international infrastructure while expanding our direct to retailer/e-commerce presence.”
Market context.
Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.
Primary market
Healthcare
- Market spend (2023–2025)
- $195B
- Market spend (2020–2022)
- $253.6B
- Recent vs prior
- −23%
- Issuer rank in market
- N/A
- Share of market capital
- 0.0%
Valuation positioning
ELAN trades at a +7.4-turn premium to the Healthcare peer median of 12.9×.
- EV / Revenue
- 3.1×
- Net debt / EBITDA
- 4.4×
- Peer median EV / EBITDA
- 12.9×
Trading comparables
FMP market data · 2026-05-10
| Company | EV / EBITDA | EV / Rev | Net debt / EBITDA | Revenue | M&A 2023–2025 |
|---|---|---|---|---|---|
AbbVie Inc.ABBV | 23.4× | 6.7× | 3.1× | $62.8B | $18B |
Elanco Animal Health IncorporatedELAN | 20.4× | 3.1× | 4.4× | $4.9B | $36M |
| 17.2× | 0.9× | 1.9× | $449.7B | $28.1B | |
Amgen Inc.AMGN | 12.9× | 6.0× | 2.6× | $37.2B | $26.7B |
| 11.7× | 0.5× | 2.5× | $200.4B | $6.4B | |
| 9.3× | 1.9× | 2.8× | $76.4B | $1.3B |
Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Healthcare. Bars scaled to the highest EV/EBITDA in the set.
Target landscape.
Public-issuer targets that fit this buyer's archetype and target categories from filing-derived signal. Scores reflect cross-signal fit; reasons cite the EDGAR-anchored facts that drove the match.
No qualifying public-issuer targets surfaced from the current signal mix.
Stated target categories
No target categories enumerated in the audited corpus for this issuer.
Filing activity & signal stream.
Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.
Filing cadence
- 10-K (annual)82026-02-24
- 10-Q (quarterly)232026-05-06
- 8-K (event)1162026-05-06
- Proxy / DEF 14A252026-04-08
- Activism (13D / DFAN / PREC)72022-12-22
Signals on file
- elevated
Activism on file
2022-12-227 activist filings on file (13D, DFAN14A, PREC14A series).
- info
Signal
Serial acquisition history
- info
Signal
10-K strategy themes
Audited corpus.
No audited record on file for this CIK in the current v6 corpus.
This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.