Two High-Flyers Emerging as Prime Candidates for Share Splits in 2026

What You Need to Know

While stock splits don't fundamentally change a company's intrinsic value, they can unlock significant opportunity for retail investors by lowering per-share prices and broadening accessibility. Companies that undergo splits typically exhibit strong momentum, making them worth monitoring. Two standouts are ASML Holding and Eli Lilly, both trading well above $1,000 per share and showing the hallmarks of potential split candidates.

Eli Lilly's Meteoric Rise Sets the Stage for Restructuring

Eli Lilly (NYSE: LLY) presents a compelling case for share division. The pharmaceutical giant's stock has experienced explosive appreciation, now commanding prices exceeding $1,000 per share and propelling the company to a $1 trillion valuation milestone.

The catalyst behind this remarkable performance is unmistakable: the blockbuster success of its weight-loss medication, Zepbound. Within the incretin analog category, Eli Lilly has captured nearly 58% of the U.S. market—a dominant position that reflects both innovation and market execution. This therapeutic category has reshaped investor sentiment toward the company.

The valuation metrics underscore investor conviction. Trading at a forward price-to-earnings ratio near 27, Eli Lilly commands a premium that reflects confidence in its growth trajectory. Analysts are projecting earnings expansion exceeding 35% in the year ahead, suggesting the market may continue to reward the company with upward momentum regardless of a split decision.

Notably, the company hasn't undergone a share split since 1997, making it a historical outlier among mega-cap technology and healthcare leaders. This extended period without restructuring, combined with current price levels and forward-looking growth expectations, positions it squarely within the splits conversation.

ASML Holding's Two-Decade Gap Presents an Opening

ASML Holding (NASDAQ: ASML), the Netherlands-based leader in advanced semiconductor manufacturing equipment, offers another candidate worth tracking. The stock has rallied over 54% in recent months, now trading above $1,100 per share. Nearly two decades have elapsed since the company's last share split, suggesting the timing could align with operational momentum.

From a fundamental standpoint, ASML remains positioned for sustained expansion. Management guidance for 2026 mirrors the strength witnessed in 2025, signaling confidence despite broader macroeconomic uncertainties. Wall Street projections reinforce this outlook, with consensus estimates calling for sales growth of 14.8% and earnings growth of 28.3% for the year.

The company's role as a critical enabler of artificial intelligence infrastructure—through its cutting-edge lithography systems—provides additional tailwinds. As semiconductor demand remains robust, ASML's equipment innovations continue to be indispensable for chip manufacturers worldwide.

Why Splits Matter in Today's Market

Share splits enhance retail participation by reducing the nominal per-share cost, even though the underlying ownership stake remains unchanged. This democratization effect can broaden the investor base and potentially increase trading volume. Combined with strong fundamental trajectories, splits often signal management confidence in future growth.

Both ASML and Eli Lilly check the boxes: elevated share prices, multiyear growth momentum, and long intervals since their last restructuring. Whether they execute splits in 2026 remains uncertain, but the fundamental backdrop supporting their business operations continues to strengthen.