ABBV

Company financials

AbbVie

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

                    Revenue
                    FY2025
                
$61.2B
                    3y CAGR +1.8%
                    
                    P29
                    
                    +8.6%
                    
                    Net income
                    FY2025
                
$4.2B
                    Net margin +6.9%
                    
                    P25
                    
                    -1.2%
                    
                    Total assets
                    FY2025
                
$134.0B
                    ROA +3.2%
                    
                    P25
                    
                    -0.9%
                    
                    Operating cash flow
                    FY2025
                
$19.0B
                    FCF margin +29.1%
                    
                    P96
                    
                    +1.2%

15 yrs · FY2011–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $134.0B

Total liabilities ~$137.2B

Shareholders equity $-3.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	3.9%	4.1%	9.5%	6.6%	6.7%
Short Term Investments	0.0%	0.0%	0.0%	0.0%	0.1%
Accounts Receivable	9.4%	8.1%	8.3%	8.1%	6.8%
Inventory	3.7%	3.1%	3.0%	2.6%	2.1%
Prepaid Expenses	4.7%	3.6%	3.7%	3.2%	3.4%
Total Current Assets	21.7%	18.9%	24.5%	20.5%	19.1%
Property,Plant and Equipment	4.2%	3.8%	3.7%	3.6%	3.5%
Goodwill	26.6%	25.9%	24.0%	23.2%	22.1%
Intangible Assets	39.3%	44.4%	41.3%	48.6%	51.8%
Long Term Investments	0.2%	0.2%	0.2%	0.2%	0.2%
Other Noncurrent Assets	8.0%	6.8%	6.3%	4.0%	3.3%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	25.9%	23.6%	22.8%	18.3%	15.5%
Current Portion of Long Term Debt	6.4%	5.0%	5.3%	3.0%	8.5%
Total Current Liabilities	32.3%	28.7%	28.1%	21.3%	24.0%
Long Term Debt	44.0%	44.6%	38.7%	42.6%	43.8%
Deferred Tax Liabilities	1.8%	1.9%	1.4%	1.6%	2.1%
Other Noncurrent Liabilities	24.3%	22.3%	24.0%	22.1%	19.6%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	16.8%	15.8%	15.0%	13.9%	12.5%
Retained Earnings	-11.6%	-5.8%	-0.7%	3.4%	2.1%
Treasury Stock	6.8%	6.1%	4.8%	3.3%	2.1%
Accumulated Other Comprehensive Income	-0.9%	-1.4%	-1.7%	-1.6%	-2.0%
Total Stockholders Equity	-2.4%	2.5%	7.7%	12.4%	10.5%
Noncontrolling Interest	0.0%	0.0%	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $61.2B

Operating income $15.1B

Net income $4.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	45.7%	41.7%	40.3%	41.8%	38.4%
Expenses Cost of Revenue	13.6%	12.5%	15.2%	12.5%	11.9%
Expenses Research and Development	10.5%	11.5%	6.3%	5.2%	5.5%
Expenses Selling,General and Administrative	10.5%	10.9%	9.6%	11.0%	8.4%
Expenses Other Operating Expenses	-0.2%	-0.0%	-0.1%	0.0%	0.3%
Other Income Expense Operating Income	11.3%	6.8%	9.5%	13.1%	12.2%
Other Income Expense Interest Expense	2.0%	1.6%	1.3%	—	—
Other Income Expense Other Income/expense	-4.4%	-2.4%	-3.6%	-1.9%	-1.7%
Other Income Expense Income Before Tax	4.9%	2.7%	4.6%	9.7%	8.9%
Income Tax Income Tax Expense	1.8%	-0.4%	1.0%	1.2%	1.0%
net Income Other Items Below Tax	-0.0%	-0.0%	-0.0%	-1.5%	-1.6%
net Income net Income	3.2%	3.2%	3.6%	8.5%	7.9%
net Income Comprehensive Income	3.7%	3.4%	3.5%	9.0%	8.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	1.3%	1.3%	1.3%	1.3%	1.2%

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	3.2%	3.2%	3.6%	8.5%	7.9%
Operating Activities Depreciation and Amortization	6.1%	6.2%	6.4%	6.1%	5.8%
Operating Activities Stock Based Compensation	0.7%	0.7%	0.6%	0.5%	0.5%
Operating Activities Deferred Income Taxes	-0.4%	-1.1%	-2.1%	-1.4%	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	-1.8%	-2.1%	2.1%	-0.1%	-0.8%
Operating Activities Other Non Cash Items	6.4%	7.0%	6.4%	4.3%	2.8%
Operating Activities net Cash From Operating Activities	14.2%	13.9%	17.0%	18.0%	15.5%
Investing Activities Capital Expenditures	-0.9%	-0.7%	-0.6%	-0.5%	-0.5%
Investing Activities Business Acquisitions	-0.2%	-12.9%	0.0%	-0.2%	-0.4%
Investing Activities Purchases of Investments	-3.9%	-2.3%	-0.9%	-1.4%	-1.0%
Investing Activities Proceeds From Sale of Investments	0.1%	0.4%	0.0%	1.1%	0.1%
Investing Activities Other Investing Activities	-0.0%	0.1%	0.0%	0.6%	0.2%
Investing Activities net Cash From Investing Activities	-5.0%	-15.4%	-1.5%	-0.4%	-1.6%
Financing Activities Proceeds From Debt	6.6%	16.3%	0.0%	1.4%	0.7%
Financing Activities Repayment of Debt	-7.2%	-10.8%	-3.1%	-10.4%	-6.4%
Financing Activities Repurchase of Common Stock	-0.7%	-1.3%	-1.5%	-1.1%	-0.6%
Financing Activities Dividends Paid	-8.7%	-8.2%	-7.8%	-7.2%	-6.3%
Financing Activities Proceeds From Stock Issuance	0.1%	0.2%	0.1%	0.2%	0.2%
Financing Activities Other Financing Activities	0.4%	-0.0%	-0.6%	-0.8%	-0.5%
Financing Activities net Cash From Financing Activities	-9.5%	-3.9%	-12.8%	-17.9%	-13.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	0.0%	-0.0%	-0.1%
Cash Reconciliation net Change In Cash	-0.2%	-5.4%	2.7%	-0.4%	0.9%

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	+16.4%	+14.1%	+17.5%	+22.3%	+19.4%
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	-41.97x	39.65x	12.00x	7.04x	8.51x
Interest coverage	5.74x	4.23x	7.58x	—	—
Efficiency
Asset turnover	0.46x	0.42x	0.40x	0.42x	0.38x
Cash conversion cycle	-522d	-529d	-400d	-387d	-345d

Valuation

Price against fundamentals

ABBV $218 · 2025-09-12 · 414d old · FY2025

Market cap $387.1B

P/E 91.60x

P/S 6.33x

P/B —

EV $449.4B

EV/EBITDA —

FCF yield +4.6%

Dividend yield +3.0%

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AbbVie

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