ABBV

Company financials

AbbVie

Health Care Biotechnology North Chicago, Illinois Last filing Feb 20, 2026 · FY2025

                    Revenue
                    FY2025
                
$61.2B
                    3y CAGR +1.8%
                    
                    P27
                    
                    +8.6%
                    
                    Net income
                    FY2025
                
$4.2B
                    Net margin +6.9%
                    
                    P32
                    
                    -1.2%
                    
                    Total assets
                    FY2025
                
$134.0B
                    ROA +3.2%
                    
                    P27
                    
                    -0.9%
                    
                    Operating cash flow
                    FY2025
                
$19.0B
                    FCF margin +29.1%
                    
                    P96
                    
                    +1.2%

15 yrs · FY2011–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $134.0B

Total liabilities $43.3B

Shareholders equity $-3.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	$5.2B -5.3%	$5.5B -56.9%	$12.8B 39.3%	$9.2B -5.6%	$9.7B
Accounts Receivable	$12.6B 15.3%	$10.9B -2.1%	$11.2B -0.9%	$11.3B 12.8%	$10.0B
Inventory	$5.0B 18.4%	$4.2B 2.0%	$4.1B 14.5%	$3.6B 14.4%	$3.1B
Prepaid Expenses	$6.3B 27.2%	$4.9B -0.1%	$4.9B 12.1%	$4.4B -11.9%	$5.0B
Other Current Assets	$10.7B 17.3%	$9.1B 7.4%	$8.5B 52.8%	$5.6B 14.1%	$4.9B
Total Current Assets	$29.1B 13.6%	$25.6B -22.5%	$33.0B 15.9%	$28.5B 1.9%	$27.9B
Property,Plant and Equipment	$5.6B 9.6%	$5.1B 2.9%	$5.0B 1.1%	$4.9B -3.4%	$5.1B
Goodwill	$35.6B 2.0%	$35.0B 8.2%	$32.3B 0.4%	$32.2B -0.7%	$32.4B
Intangible Assets	$52.6B -12.4%	$60.1B 8.0%	$55.6B -17.5%	$67.4B -11.2%	$76.0B
Long Term Investments	$268.0M -3.9%	$279.0M -8.2%	$304.0M 26.1%	$241.0M -13.0%	$277.0M
Other Noncurrent Assets	$10.7B 17.3%	$9.1B 7.4%	$8.5B 52.8%	$5.6B 14.1%	$4.9B
Total Assets	$134.0B -0.9%	$135.2B 0.3%	$134.7B -2.9%	$138.8B -5.3%	$146.5B
Liabilities
Accounts Payable	$34.7B 1079.4%	$2.9B -20.1%	$3.7B 25.7%	$2.9B 1.8%	$2.9B
Accrued Liabilities	$34.7B 421.7%	$6.7B 3.4%	$6.4B 10.6%	$5.8B -11.5%	$6.6B
Current Portion of Long Term Debt	$2.5B	—	$0 -100.0%	$1.0M -92.9%	$14.0M
Other Current Liabilities	$32.6B 8.1%	$30.1B -6.8%	$32.3B 5.5%	$30.7B 6.8%	$28.7B
Total Current Liabilities	$43.3B 11.7%	$38.7B 2.4%	$37.8B 28.1%	$29.5B -16.1%	$35.2B
Deferred Tax Liabilities	$2.4B -7.4%	$2.6B 32.1%	$2.0B -10.9%	$2.2B -27.2%	$3.0B
Other Noncurrent Liabilities	$32.6B 8.1%	$30.1B -6.8%	$32.3B 5.5%	$30.7B 6.8%	$28.7B
Total Liabilities	$43.3B 11.7%	$38.7B 2.4%	$37.8B 28.1%	$29.5B -16.1%	$35.2B
Equity
Common Stock	$18.0M 0.0%	$18.0M 0.0%	$18.0M 0.0%	$18.0M 0.0%	$18.0M
Additional Paid In Capital	$22.5B 5.4%	$21.3B 5.7%	$20.2B 4.9%	$19.2B 5.1%	$18.3B
Retained Earnings	$-15.5B -96.1%	$-7.9B -690.0%	$-1.0B -120.9%	$4.8B 53.0%	$3.1B
Treasury Stock	$9.1B 11.5%	$8.2B 25.5%	$6.5B 42.2%	$4.6B 46.2%	$3.1B
Accumulated Other Comprehensive Income	$-1.1B 40.6%	$-1.9B 16.5%	$-2.3B -4.8%	$-2.2B 24.1%	$-2.9B
Noncontrolling Interest	$42.0M 7.7%	$39.0M 5.4%	$37.0M 12.1%	$33.0M 17.9%	$28.0M
Total Stockholders Equity	$-3.3B -198.3%	$3.3B -67.9%	$10.4B -40.0%	$17.3B 12.0%	$15.4B
Total Liabilitiesand Equity	$134.0B -0.9%	$135.2B 0.3%	$134.7B -2.9%	$138.8B -5.3%	$146.5B

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $61.2B

Operating income $15.1B

Net income $4.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	$61.2B 8.6%	$56.3B 3.7%	$54.3B -6.4%	$58.1B 3.3%	$56.2B
Expenses Cost of Revenue	$18.2B 7.7%	$16.9B -17.2%	$20.4B 17.2%	$17.4B -0.2%	$17.4B
Expenses Research and Development	$9.1B -28.9%	$12.8B 66.7%	$7.7B 17.9%	$6.5B -6.0%	$6.9B
Expenses Selling,General and Administrative	$14.0B -5.0%	$14.8B 14.6%	$12.9B -15.6%	$15.3B 23.6%	$12.3B
Expenses Depreciation and Amortization	$7.4B -3.2%	$7.6B -4.1%	$7.9B 3.3%	$7.7B -0.4%	$7.7B
Expenses Share Based Compensation	$955.0M 4.8%	$911.0M 22.0%	$747.0M 11.3%	$671.0M -3.0%	$692.0M
Expenses Operating Expenses	$46.1B -2.4%	$47.2B 13.6%	$41.6B 4.1%	$39.9B 4.3%	$38.3B
Other Income Expense Operating Income	$15.1B 65.0%	$9.1B -28.4%	$12.8B -29.6%	$18.1B 1.1%	$17.9B
Other Income Expense Interest Income	$266.0M -59.0%	$648.0M 20.0%	$540.0M 190.3%	$186.0M 376.9%	$39.0M
Other Income Expense Interest Expense	$2.9B 3.0%	$2.8B 26.3%	$2.2B -0.3%	$2.2B -8.0%	$2.4B
Other Income Expense Other Income/expense	$-5.8B -78.8%	$-3.2B 30.7%	$-4.7B -91.1%	$-2.4B 2.1%	$-2.5B
Other Income Expense Income Before Tax	$6.6B 77.5%	$3.7B -40.5%	$6.2B -53.6%	$13.5B 3.8%	$13.0B
Income Tax Income Tax Expense	$2.4B 514.7%	$-570.0M -141.4%	$1.4B -15.6%	$1.6B 13.3%	$1.4B
net Income net Income	$4.2B -1.2%	$4.3B -12.0%	$4.9B -58.9%	$11.8B 2.5%	$11.5B
net Income Comprehensive Income	$5.0B 7.5%	$4.7B -2.1%	$4.8B -62.1%	$12.5B 6.6%	$11.8B
Earnings Per Share Basic Eps	$2 -1.2%	$2 -12.1%	$3 -58.9%	$7 2.6%	$6
Earnings Per Share Diluted Eps	$2 -1.3%	$2 -12.1%	$3 -59.0%	$7 2.8%	$6
Earnings Per Share Weighted Average Shares Basic	$1.8B 0.0%	$1.8B 0.1%	$1.8B -0.2%	$1.8B 0.1%	$1.8B
Earnings Per Share Weighted Average Shares Diluted	$1.8B 0.0%	$1.8B 0.0%	$1.8B -0.3%	$1.8B 0.1%	$1.8B

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 5 years

Operating cash flow $19.0B

Investing cash flow $-6.6B

Financing cash flow $-12.7B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	$4.2B -1.2%	$4.3B -12.0%	$4.9B -58.9%	$11.8B 2.5%	$11.5B
Operating Activities Depreciation and Amortization	$762.0M -0.3%	$764.0M 1.6%	$752.0M -3.3%	$778.0M -3.1%	$803.0M
Operating Activities Stock Based Compensation	$955.0M 4.8%	$911.0M 22.0%	$747.0M 11.3%	$671.0M -3.0%	$692.0M
Operating Activities Deferred Income Taxes	$-492.0M 66.0%	$-1.4B 49.8%	$-2.9B -49.6%	$-1.9B -115.0%	$-898.0M
Operating Activities Changes In Operating Assets and Liabilities	$2.6B 1124.5%	$-249.0M -146.2%	$539.0M -77.6%	$2.4B 44.9%	$1.7B
Operating Activities net Cash From Operating Activities	$19.0B 1.2%	$18.8B -17.7%	$22.8B -8.4%	$24.9B 9.5%	$22.8B
Investing Activities Capital Expenditures	$1.2B 24.6%	$974.0M 25.4%	$777.0M 11.8%	$695.0M -11.7%	$787.0M
Investing Activities Business Acquisitions	$204.0M -98.8%	$17.5B	$0 -100.0%	$255.0M -51.4%	$525.0M
Investing Activities Purchases of Investments	$35.0M -52.1%	$73.0M -5.2%	$77.0M -94.6%	$1.4B 1108.4%	$119.0M
Investing Activities Other Investing Activities	$29.0M 115.3%	$-189.0M -1353.8%	$-13.0M 98.3%	$-774.0M -111.5%	$-366.0M
Investing Activities net Cash From Investing Activities	$-6.6B 68.1%	$-20.8B -936.3%	$-2.0B -222.5%	$-623.0M 73.4%	$-2.3B
Financing Activities Proceeds From Debt	$4.0B -76.5%	$17.0B	—	$2.0B 100.0%	$1.0B
Financing Activities Repayment of Debt	$2.8B -44.1%	$5.0B	$0	$0	$0
Financing Activities Repurchase of Common Stock	$980.0M -42.6%	$1.7B -13.4%	$2.0B 32.6%	$1.5B 59.2%	$934.0M
Financing Activities Dividends Paid	$11.7B 5.7%	$11.0B 4.6%	$10.5B 4.9%	$10.0B 8.4%	$9.3B
Financing Activities Proceeds From Stock Issuance	$172.0M -19.6%	$214.0M 18.9%	$180.0M -31.3%	$262.0M 7.4%	$244.0M
Financing Activities Other Financing Activities	$68.0M 19.3%	$57.0M 18.8%	$48.0M 60.0%	$30.0M 25.0%	$24.0M
Financing Activities net Cash From Financing Activities	$-12.7B -144.2%	$-5.2B 69.7%	$-17.2B 30.6%	$-24.8B -30.3%	$-19.0B
Cash Reconciliation Effect of Exchange Rate On Cash	$42.0M 164.6%	$-65.0M -1400.0%	$5.0M 108.1%	$-62.0M 36.1%	$-97.0M
Cash Reconciliation net Change In Cash	$-295.0M 96.0%	$-7.3B -301.8%	$3.6B 762.9%	$-545.0M -142.0%	$1.3B
Cash Reconciliation Cash At Beginning of Period	$5.2B -5.3%	$5.5B -56.9%	$12.8B 39.3%	$9.2B -5.6%	$9.7B
Cash Reconciliation Cash At End of Period	$5.2B -5.3%	$5.5B -56.9%	$12.8B 39.3%	$9.2B -5.6%	$9.7B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+70.2%	+70.0%	+62.4%	+70.0%	+69.0%
Operating margin	+24.6%	+16.2%	+23.5%	+31.2%	+31.9%
Net margin	+6.9%	+7.6%	+9.0%	+20.4%	+20.5%
FCF margin	+29.1%	+31.7%	+40.6%	+41.8%	+39.1%
Growth
Revenue CAGR (3y)	+1.8%	+0.1%	+5.8%	+20.4%	+19.7%
Returns
ROE	-129.2%	+128.7%	+46.9%	+68.6%	+74.9%
ROA	+3.2%	+3.2%	+3.6%	+8.5%	+7.9%
ROIC	-161.2%	—	—	+197.7%	+280.8%
Liquidity
Current ratio	0.67x	0.66x	0.87x	0.96x	0.79x
Quick ratio	0.41x	0.42x	0.63x	0.69x	0.56x
Leverage
D/E	-13.24x	11.65x	3.65x	1.71x	2.28x
Interest coverage	5.21x	3.25x	5.74x	8.12x	7.40x
Efficiency
Asset turnover	0.46x	0.42x	0.40x	0.42x	0.38x
Cash conversion cycle	-522d	+97d	+82d	+84d	+70d

Valuation

Price against fundamentals

ABBV $218 · 2025-09-12 · 368d old · FY2025

Market cap $387.1B

P/E 91.60x

P/S 6.33x

P/B —

EV $384.4B

EV/EBITDA 17.12x

FCF yield +4.6%

Dividend yield +3.0%

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AbbVie

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