Eli Lilly 's ( LLY +1.58% ) share price has soared over the past five years (up 530%). In fact, it's hard to find a single pharmaceutical giant that has performed better over this period. However, some might think that the company's stock is no longer worth buying at current levels. After all, Eli Lilly stock is trading at 27 times forward earnings. That's meaningfully higher than the 18.3 average for the healthcare sector.

But Eli Lilly's shares do remain attractive. Let's look into one metric that strongly suggests so.

Lilly looks more reasonable when you add growth into the equation

The forward price-to-earnings ratio (P/E) is one of the more popular valuation metrics, and with good reason. Instead of focusing on past performance -- which is helpful but doesn't tell us a

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