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

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 10 years

Total assets $134.0B

Total liabilities ~$137.2B

Shareholders equity $-3.3B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+0.3%	+1.0%	+14.1%	+10.3%	+13.8%	+13.5%	+98.6%	+19.5%	+82.4%	—
Short Term Investments	-34.8%	-37.5%	-60.5%	-47.4%	-42.4%	-61.2%	—	-23.6%	-63.3%	—
Accounts Receivable	+11.4%	+10.9%	+12.9%	+15.4%	+16.0%	+16.7%	+4.5%	+6.4%	+6.9%	—
Inventory	+14.7%	+14.2%	+16.1%	+16.3%	+16.7%	+23.0%	+7.9%	+5.4%	+11.1%	—
Prepaid Expenses	+6.5%	+4.1%	+4.8%	+3.6%	+7.0%	+0.0%	-12.9%	-27.1%	+33.1%	—
Total Current Assets	+6.7%	+5.9%	+10.7%	+9.9%	+11.5%	+10.5%	+45.2%	+2.3%	+31.1%	—
Property,Plant and Equipment	+8.9%	+8.9%	+9.7%	+11.2%	+14.4%	+19.1%	+4.4%	+5.2%	+7.6%	—
Goodwill	+9.8%	+10.8%	+11.1%	+13.0%	+16.0%	+21.1%	+0.4%	+0.8%	+2.4%	—
Intangible Assets	+6.9%	+9.6%	+9.8%	+15.2%	+21.3%	+30.1%	-13.6%	-14.3%	-4.6%	—
Long Term Investments	-19.0%	-20.7%	-22.3%	-28.4%	-31.1%	-36.3%	-62.6%	-10.8%	+17.2%	—
Other Noncurrent Assets	+27.4%	+28.7%	+32.1%	+28.9%	+32.1%	+41.4%	+23.6%	-0.2%	+9.4%	—
Total Assets	+8.2%	+9.4%	+10.7%	+13.2%	+17.3%	+22.9%	+10.5%	-5.2%	+7.1%	—
Liabilities
Accounts Payable	+15.7%	+16.6%	+18.4%	+18.1%	+19.3%	+21.1%	+8.1%	+12.8%	+9.0%	—
Current Portion of Long Term Debt	+40.5%	+42.4%	+51.0%	+47.5%	+98.8%	+114.4%	+110.6%	+263.4%	+1495.8%	—
Total Current Liabilities	+18.0%	+18.8%	+21.3%	+20.2%	+29.2%	+30.8%	+16.8%	+32.8%	+70.1%	—
Long Term Debt	+5.5%	+6.5%	+5.3%	+8.4%	+12.0%	+20.8%	+20.0%	-2.0%	-15.1%	—
Deferred Tax Liabilities	-11.1%	-11.6%	-16.5%	-17.4%	-15.3%	-14.7%	-45.3%	-60.6%	-63.9%	—
Other Noncurrent Liabilities	+16.3%	+17.4%	+21.3%	+24.2%	+28.0%	+34.8%	+28.2%	+31.7%	+86.8%	—
Equity
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+5.7%	+5.7%	+5.7%	+5.9%	+6.0%	+6.2%	+3.6%	+3.9%	+4.3%	—
Retained Earnings	—	—	—	+1.5%	-6.5%	-29.9%	+2.5%	-12.3%	+24.7%	—
Treasury Stock	-1.9%	-3.4%	-7.0%	-13.3%	-22.0%	-32.4%	+31.2%	+49.0%	+9.9%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	—	-4.1%	+12.2%	+24.5%	+27.2%	+29.6%	—	—	+9.9%	—
Noncontrolling Interest	—	—	—	—	—	—	—	—	—	—
Total Liabilitiesand Equity	+8.2%	+9.4%	+10.7%	+13.2%	+17.3%	+22.9%	+10.5%	-5.2%	+7.1%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $61.2B

Operating income $15.1B

Net income $4.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+10.1%	+10.3%	+11.3%	+14.6%	+17.0%	+15.6%	+9.1%	+13.0%	+10.1%	—
Expenses Cost of Revenue	+13.5%	+14.2%	+19.6%	+20.0%	+24.5%	+27.4%	+8.5%	+15.0%	+20.7%	—
Expenses Research and Development	+13.3%	+16.5%	+9.1%	+7.8%	+11.8%	+14.1%	+14.0%	+53.1%	+16.3%	—
Expenses Selling,General and Administrative	+10.1%	+12.2%	+11.8%	+17.2%	+16.0%	+17.7%	+5.7%	+12.2%	+7.0%	—
Expenses Other Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	+5.5%	-0.3%	+4.6%	+11.7%	+13.9%	+5.0%	+11.6%	-17.3%	+2.2%	—
Other Income Expense Interest Expense	+11.8%	+10.6%	+8.3%	—	—	+24.0%	—	—	+4.0%	—
Other Income Expense Other Income/expense	—	—	—	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	-2.0%	-9.0%	-3.3%	+9.3%	+10.5%	-19.0%	+2.2%	-18.8%	-2.0%	—
Income Tax Income Tax Expense	+2.3%	—	-4.7%	-2.8%	-5.7%	—	-34.4%	—	+25.2%	—
net Income Other Items Below Tax	—	—	—	—	—	—	—	—	—	—
net Income net Income	-3.7%	-4.0%	-2.8%	+12.1%	+14.2%	-6.2%	+9.8%	-2.3%	-10.8%	—
net Income Comprehensive Income	-1.9%	-3.0%	-3.1%	+13.3%	+14.7%	-3.7%	+4.5%	+0.1%	-12.8%	—
Earnings Per Share Basic Eps	-4.7%	-5.1%	-4.1%	+10.5%	+12.2%	-7.0%	+13.2%	+0.3%	-9.3%	—
Earnings Per Share Diluted Eps	-4.7%	-5.1%	-4.0%	+10.6%	+12.2%	-7.0%	+13.3%	+0.4%	-9.1%	—
Earnings Per Share Weighted Average Shares Diluted	+0.9%	+1.0%	+1.2%	+1.4%	+1.7%	+0.6%	-3.1%	-2.6%	-1.7%	—

Cash Flow Statement

Operating, investing, and financing flows

22 accounts · 10 years

Operating cash flow $19.0B

Investing cash flow $-6.6B

Financing cash flow $-12.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	-3.7%	-4.0%	-2.8%	+12.2%	+14.2%	-6.1%	+9.8%	-2.3%	-10.8%	—
Operating Activities Depreciation and Amortization	+30.1%	+34.9%	+41.4%	+49.3%	+61.9%	+70.6%	+39.3%	+52.0%	+96.5%	—
Operating Activities Stock Based Compensation	+11.7%	+12.6%	+11.3%	+11.3%	+14.4%	+20.9%	+6.8%	+9.2%	+3.4%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	—	—	—	—	—	—	—	—	—	—
Operating Activities Other Non Cash Items	+24.0%	+29.0%	+31.9%	+30.1%	+27.4%	+59.3%	+51.8%	+132.6%	+124.8%	—
Operating Activities net Cash From Operating Activities	+11.7%	+13.1%	+18.3%	+23.5%	+26.5%	+25.7%	+23.7%	+38.1%	+41.5%	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Business Acquisitions	—	—	—	—	—	—	—	—	—	—
Investing Activities Purchases of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Proceeds From Sale of Investments	-31.7%	-16.5%	-41.5%	-7.0%	-47.1%	-10.3%	+4.6%	-4.3%	+18.4%	—
Investing Activities Other Investing Activities	—	+6.1%	-27.0%	+36.8%	+25.4%	+85.2%	+12.3%	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	-3.1%	+8.3%	—	-25.4%	-38.8%	-28.7%	+39.4%	-12.2%	—	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Dividends Paid	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Stock Issuance	-4.8%	-2.8%	-5.5%	-0.4%	-1.9%	-6.0%	-69.0%	-47.8%	-5.2%	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+70.2%	+70.0%	+62.4%	+70.0%	+69.0%	+66.4%	+77.6%	+76.4%	+75.0%	+77.3%
Operating margin	+24.6%	+16.2%	+23.5%	+31.2%	+31.9%	+24.8%	+39.0%	+19.5%	+33.8%	+36.4%
Net margin	+6.9%	+7.6%	+9.0%	+20.4%	+20.5%	+10.1%	+23.7%	+17.4%	+18.8%	+23.2%
FCF margin	+29.1%	+31.7%	+40.6%	+41.8%	+39.1%	+36.7%	+38.4%	+39.0%	+33.4%	+25.6%
Growth
Revenue CAGR (3y)	+1.8%	+0.1%	+5.8%	+20.4%	+19.7%	+17.5%	+9.1%	+12.7%	+12.2%	+10.9%
Returns
ROE	-129.2%	+128.7%	+46.9%	+68.6%	+74.9%	+35.3%	-96.5%	-67.3%	+104.2%	+128.4%
ROA	+3.2%	+3.2%	+3.6%	+8.5%	+7.9%	+3.1%	+8.8%	+9.6%	+7.5%	+9.0%
ROIC	+16.4%	+14.1%	+17.5%	+22.3%	+19.4%	+12.5%	+65.2%	+26.0%	+19.8%	+19.4%
Liquidity
Current ratio	0.67x	0.66x	0.87x	0.96x	0.79x	0.84x	3.18x	0.98x	1.28x	1.65x
Quick ratio	0.41x	0.42x	0.63x	0.69x	0.56x	0.60x	2.91x	0.74x	0.86x	1.01x
Leverage
D/E	-41.97x	39.65x	12.00x	7.04x	8.51x	10.51x	-11.90x	-8.03x	12.89x	13.26x
Interest coverage	5.74x	4.23x	7.58x	—	—	4.98x	—	—	9.51x	9.68x
Efficiency
Asset turnover	0.46x	0.42x	0.40x	0.42x	0.38x	0.30x	0.37x	0.55x	0.40x	0.39x
Cash conversion cycle	-522d	-529d	-400d	-387d	-345d	-329d	-432d	-428d	-381d	-429d

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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Margins, returns, liquidity, leverage, efficiency

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