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

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	$5.2B -5.3%	$5.5B -56.9%	$12.8B 39.3%	$9.2B -5.6%	$9.7B 15.4%	$8.4B -78.8%	$39.9B 447.7%	$7.3B -21.6%	$9.3B 82.4%	$5.1B
Short Term Investments	$28.0M -9.7%	$31.0M 1450.0%	$2.0M -92.9%	$28.0M -66.7%	$84.0M 180.0%	$30.0M	$0 -100.0%	$772.0M 58.8%	$486.0M -63.3%	$1.3B
Accounts Receivable	$12.6B 15.3%	$10.9B -2.1%	$11.2B -0.9%	$11.3B 12.8%	$10.0B 13.1%	$8.8B 62.5%	$5.4B 0.8%	$5.4B 5.8%	$5.1B 6.9%	$4.8B
Inventory	$5.0B 18.4%	$4.2B 2.0%	$4.1B 14.5%	$3.6B 14.4%	$3.1B -5.5%	$3.3B 82.6%	$1.8B 13.0%	$1.6B 0.0%	$1.6B 11.1%	$1.4B
Prepaid Expenses	$6.3B 27.2%	$4.9B -0.1%	$4.9B 12.1%	$4.4B -11.9%	$5.0B 40.2%	$3.6B 51.3%	$2.4B 24.2%	$1.9B -60.0%	$4.7B 33.1%	$3.6B
Total Current Assets	$29.1B 13.6%	$25.6B -22.5%	$33.0B 15.9%	$28.5B 1.9%	$27.9B 15.5%	$24.2B -51.2%	$49.5B 192.2%	$16.9B -20.2%	$21.2B 31.1%	$16.2B
Property,Plant and Equipment	$5.6B 9.6%	$5.1B 2.9%	$5.0B 1.1%	$4.9B -3.4%	$5.1B -2.6%	$5.2B 77.2%	$3.0B 2.7%	$2.9B 2.9%	$2.8B 7.6%	$2.6B
Goodwill	$35.6B 2.0%	$35.0B 8.2%	$32.3B 0.4%	$32.2B -0.7%	$32.4B -2.2%	$33.1B 112.3%	$15.6B -0.4%	$15.7B -0.8%	$15.8B 2.4%	$15.4B
Intangible Assets	$52.6B -12.4%	$60.1B 8.0%	$55.6B -17.5%	$67.4B -11.2%	$76.0B -8.4%	$82.9B 344.4%	$18.6B -12.2%	$21.2B -23.0%	$27.6B -4.6%	$28.9B
Long Term Investments	$268.0M -3.9%	$279.0M -8.2%	$304.0M 26.1%	$241.0M -13.0%	$277.0M -5.5%	$293.0M 215.1%	$93.0M -93.5%	$1.4B -32.1%	$2.1B 17.2%	$1.8B
Other Noncurrent Assets	$10.7B 17.3%	$9.1B 7.4%	$8.5B 52.8%	$5.6B 14.1%	$4.9B 0.7%	$4.9B 112.0%	$2.3B 89.4%	$1.2B -8.9%	$1.3B 9.4%	$1.2B
Total Assets	$134.0B -0.9%	$135.2B 0.3%	$134.7B -2.9%	$138.8B -5.3%	$146.5B -2.7%	$150.6B 69.0%	$89.1B 50.1%	$59.4B -16.2%	$70.8B 7.1%	$66.1B
Liabilities
Accounts Payable	$34.7B 8.7%	$31.9B 4.2%	$30.6B 20.7%	$25.4B 11.9%	$22.7B 12.6%	$20.2B 70.4%	$11.8B -0.8%	$11.9B 16.7%	$10.2B 9.0%	$9.4B
Current Portion of Long Term Debt	$8.6B 25.7%	$6.8B -5.4%	$7.2B 73.9%	$4.1B -66.9%	$12.5B 47.0%	$8.5B 126.5%	$3.8B -29.3%	$5.3B -17.3%	$6.4B 1495.8%	$402.0M
Total Current Liabilities	$43.3B 11.7%	$38.7B 2.4%	$37.8B 28.1%	$29.5B -16.1%	$35.2B 22.8%	$28.7B 83.9%	$15.6B -9.6%	$17.2B 3.6%	$16.6B 70.1%	$9.8B
Long Term Debt	$58.9B -2.3%	$60.3B 15.6%	$52.2B -11.7%	$59.1B -7.9%	$64.2B -17.2%	$77.6B 23.2%	$63.0B 79.9%	$35.0B 13.1%	$31.0B -15.1%	$36.4B
Deferred Tax Liabilities	$2.4B -7.4%	$2.6B 32.1%	$2.0B -10.9%	$2.2B -27.2%	$3.0B -17.5%	$3.6B 222.7%	$1.1B 5.9%	$1.1B -57.1%	$2.5B -63.9%	$6.9B
Other Noncurrent Liabilities	$32.6B 8.1%	$30.1B -6.8%	$32.3B 5.5%	$30.7B 6.8%	$28.7B 4.0%	$27.6B 56.9%	$17.6B 21.4%	$14.5B -7.1%	$15.6B 86.8%	$8.4B
Equity
Common Stock	$18.0M 0.0%	$18.0M 0.0%	$18.0M 0.0%	$18.0M 0.0%	$18.0M 0.0%	$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 5.3%	$17.4B 14.4%	$15.2B 3.0%	$14.8B 3.4%	$14.3B 4.3%	$13.7B
Retained Earnings	$-15.5B -96.1%	$-7.9B -690.0%	$-1.0B -120.9%	$4.8B 53.0%	$3.1B 196.4%	$1.1B -77.6%	$4.7B 40.1%	$3.4B -38.3%	$5.5B 24.7%	$4.4B
Treasury Stock	$9.1B 11.5%	$8.2B 25.5%	$6.5B 42.2%	$4.6B 46.2%	$3.1B 38.8%	$2.3B -90.8%	$24.5B 1.6%	$24.1B 102.2%	$11.9B 9.9%	$10.9B
Accumulated Other Comprehensive Income	$-1.1B 40.6%	$-1.9B 16.5%	$-2.3B -4.8%	$-2.2B 24.1%	$-2.9B 7.0%	$-3.1B 13.3%	$-3.6B -45.0%	$-2.5B 9.1%	$-2.7B -5.5%	$-2.6B
Total Stockholders Equity	$-3.3B -198.3%	$3.3B -67.9%	$10.4B -40.0%	$17.3B 12.0%	$15.4B 17.8%	$13.1B 260.0%	$-8.2B 3.2%	$-8.4B -265.7%	$5.1B 9.9%	$4.6B
Noncontrolling Interest	$42.0M 7.7%	$39.0M 5.4%	$37.0M 12.1%	$33.0M 17.9%	$28.0M 33.3%	$21.0M	$0	—	—	—
Total Liabilitiesand Equity	$134.0B -0.9%	$135.2B 0.3%	$134.7B -2.9%	$138.8B -5.3%	$146.5B -2.7%	$150.6B 69.0%	$89.1B 50.1%	$59.4B -16.2%	$70.8B 7.1%	$66.1B

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	$61.2B 8.6%	$56.3B 3.7%	$54.3B -6.4%	$58.1B 3.3%	$56.2B 22.7%	$45.8B 37.7%	$33.3B 1.6%	$32.8B 16.1%	$28.2B 10.1%	$25.6B
Expenses Cost of Revenue	$18.2B 7.7%	$16.9B -17.2%	$20.4B 17.2%	$17.4B -0.2%	$17.4B 13.4%	$15.4B 106.8%	$7.4B -3.6%	$7.7B 9.6%	$7.0B 20.7%	$5.8B
Expenses Research and Development	$14.1B -9.2%	$15.5B 83.9%	$8.5B 17.3%	$7.2B -10.2%	$8.0B 3.1%	$7.8B 14.5%	$6.8B -36.8%	$10.8B 101.6%	$5.3B 16.3%	$4.6B
Expenses Selling,General and Administrative	$14.0B -5.0%	$14.8B 14.6%	$12.9B -15.6%	$15.3B 23.6%	$12.3B 9.3%	$11.3B 62.8%	$6.9B -6.2%	$7.4B 17.5%	$6.3B 7.0%	$5.9B
Expenses Other Operating Expenses	$-241.0M -3342.9%	$-7.0M 96.1%	$-179.0M -419.6%	$56.0M -87.0%	$432.0M	$0 100.0%	$-890.0M -278.0%	$500.0M	$0	$0
Other Income Expense Operating Income	$15.1B 65.0%	$9.1B -28.4%	$12.8B -29.6%	$18.1B 1.1%	$17.9B 57.7%	$11.4B -12.5%	$13.0B 103.4%	$6.4B -33.1%	$9.5B 2.2%	$9.3B
Other Income Expense Interest Expense	$2.6B 21.6%	$2.2B 28.3%	$1.7B	—	—	$2.3B	—	—	$1.0B 4.0%	$965.0M
Other Income Expense Other Income/expense	$-5.9B -79.4%	$-3.3B 32.4%	$-4.8B -85.8%	$-2.6B -1.8%	$-2.6B 55.1%	$-5.7B -86.5%	$-3.0B -7157.1%	$-42.0M 94.8%	$-814.0M -65.8%	$-491.0M
Other Income Expense Income Before Tax	$6.6B 77.5%	$3.7B -40.5%	$6.2B -53.6%	$13.5B 3.8%	$13.0B 282.3%	$3.4B -59.7%	$8.4B 62.1%	$5.2B -32.7%	$7.7B -2.0%	$7.9B
Income Tax Income Tax Expense	$2.4B 514.7%	$-570.0M -141.4%	$1.4B -15.6%	$1.6B 13.3%	$1.4B 217.6%	$-1.2B -325.0%	$544.0M 211.0%	$-490.0M -120.3%	$2.4B 25.2%	$1.9B
net Income Other Items Below Tax	$-7.0M 12.5%	$-8.0M 20.0%	$-10.0M 99.5%	$-2.1B 14.1%	$-2.4B -39750.0%	$-6.0M 99.6%	$-1.5B -31.9%	$-1.1B	—	—
net Income net Income	$4.2B -1.2%	$4.3B -12.0%	$4.9B -58.9%	$11.8B 2.5%	$11.5B 150.0%	$4.6B -41.4%	$7.9B 38.6%	$5.7B 7.1%	$5.3B -10.8%	$6.0B
net Income Comprehensive Income	$5.0B 7.5%	$4.7B -2.1%	$4.8B -62.1%	$12.5B 6.6%	$11.8B 130.8%	$5.1B -24.7%	$6.8B 14.0%	$5.9B 14.8%	$5.2B -12.8%	$5.9B
Earnings Per Share Basic Eps	$2 -1.2%	$2 -12.1%	$3 -58.9%	$7 2.6%	$6 137.4%	$3 -48.5%	$5 44.4%	$4 10.9%	$3 -9.3%	$4
Earnings Per Share Diluted Eps	$2 -1.3%	$2 -12.1%	$3 -59.0%	$7 2.8%	$6 137.1%	$3 -48.5%	$5 44.3%	$4 10.9%	$3 -9.1%	$4
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 6.2%	$1.7B 12.7%	$1.5B -4.0%	$1.5B -3.6%	$1.6B -1.7%	$1.6B

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	$4.2B -1.2%	$4.3B -12.0%	$4.9B -58.9%	$11.8B 2.6%	$11.5B 149.9%	$4.6B -41.4%	$7.9B 38.6%	$5.7B 7.1%	$5.3B -10.8%	$6.0B
Operating Activities Depreciation and Amortization	$8.2B -2.4%	$8.4B -3.3%	$8.7B 2.1%	$8.5B -0.3%	$8.5B 31.5%	$6.5B 213.3%	$2.1B 16.9%	$1.8B 17.6%	$1.5B 96.5%	$764.0M
Operating Activities Stock Based Compensation	$955.0M 4.8%	$911.0M 22.0%	$747.0M 11.3%	$671.0M -3.0%	$692.0M -8.1%	$753.0M 75.1%	$430.0M 2.1%	$421.0M 15.3%	$365.0M 3.4%	$353.0M
Operating Activities Deferred Income Taxes	$-492.0M 66.0%	$-1.4B 49.8%	$-2.9B -49.6%	$-1.9B -115.0%	$-898.0M 61.4%	$-2.3B -2005.7%	$122.0M 108.0%	$-1.5B	—	—
Operating Activities Changes In Operating Assets and Liabilities	$-2.4B 15.1%	$-2.8B -198.9%	$2.8B 3092.6%	$-94.0M 92.4%	$-1.2B -1261.3%	$106.0M 107.3%	$-1.5B -471.1%	$391.0M 4244.4%	$9.0M 100.5%	$-1.7B
Operating Activities Other Non Cash Items	$8.6B -9.5%	$9.5B 10.0%	$8.6B 43.6%	$6.0B 44.4%	$4.1B -47.9%	$8.0B 84.1%	$4.3B -35.3%	$6.7B 140.6%	$2.8B 124.8%	$1.2B
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 29.5%	$17.6B 32.0%	$13.3B -0.8%	$13.4B 34.8%	$10.0B 41.5%	$7.0B
Investing Activities Capital Expenditures	$-1.2B -24.6%	$-974.0M -25.4%	$-777.0M -11.8%	$-695.0M 11.7%	$-787.0M 1.4%	$-798.0M -44.6%	$-552.0M 13.5%	$-638.0M -20.6%	$-529.0M -10.4%	$-479.0M
Investing Activities Business Acquisitions	$-204.0M 98.8%	$-17.5B	$0 100.0%	$-255.0M 51.4%	$-525.0M 98.6%	$-38.3B	$0	$0	—	$-2.5B
Investing Activities Purchases of Investments	$-5.2B -70.4%	$-3.1B -140.6%	$-1.3B 35.4%	$-2.0B -30.2%	$-1.5B -4.0%	$-1.5B 13.2%	$-1.7B 33.4%	$-2.5B 0.4%	$-2.5B 54.5%	$-5.6B
Investing Activities Proceeds From Sale of Investments	$76.0M -86.3%	$555.0M 909.1%	$55.0M -96.4%	$1.5B 1461.2%	$98.0M -93.6%	$1.5B -43.5%	$2.7B 25.0%	$2.2B -22.7%	$2.8B 18.4%	$2.4B
Investing Activities Other Investing Activities	$-29.0M -115.3%	$189.0M 1353.8%	$13.0M -98.3%	$774.0M 111.5%	$366.0M -73.6%	$1.4B 730.5%	$167.0M	$0	$0 -100.0%	$118.0M
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 93.8%	$-37.6B -6401.5%	$596.0M 159.2%	$-1.0B -267.2%	$-274.0M 95.5%	$-6.1B
Financing Activities Proceeds From Debt	$8.8B -60.0%	$22.0B	$0 -100.0%	$2.0B 100.0%	$1.0B -66.7%	$3.0B -90.5%	$31.5B 251.2%	$9.0B	$0 -100.0%	$11.6B
Financing Activities Repayment of Debt	$-9.6B 34.4%	$-14.6B -252.4%	$-4.1B 71.3%	$-14.4B -53.3%	$-9.4B -65.7%	$-5.7B -25.3%	$-4.5B 24.8%	$-6.0B -24040.0%	$-25.0M 99.6%	$-6.0B
Financing Activities Repurchase of Common Stock	$-980.0M 42.6%	$-1.7B 13.4%	$-2.0B -32.6%	$-1.5B -59.2%	$-934.0M 4.5%	$-978.0M -55.5%	$-629.0M 94.8%	$-12.0B -752.1%	$-1.4B 76.6%	$-6.0B
Financing Activities Dividends Paid	$-11.7B -5.7%	$-11.0B -4.6%	$-10.5B -4.9%	$-10.0B -8.4%	$-9.3B -20.0%	$-7.7B -21.2%	$-6.4B -14.1%	$-5.6B -35.9%	$-4.1B -10.5%	$-3.7B
Financing Activities Proceeds From Stock Issuance	$172.0M -19.6%	$214.0M 18.9%	$180.0M -31.3%	$262.0M 7.4%	$244.0M 16.7%	$209.0M 2512.5%	$8.0M -89.0%	$73.0M -71.3%	$254.0M -5.2%	$268.0M
Financing Activities Other Financing Activities	$544.0M 1395.2%	$-42.0M 94.3%	$-742.0M 32.7%	$-1.1B -63.5%	$-674.0M -102.4%	$-333.0M 73.4%	$-1.3B -741.5%	$195.0M 187.1%	$-224.0M -255.6%	$-63.0M
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 -65.5%	$-11.5B -161.5%	$18.7B 230.0%	$-14.4B -161.2%	$-5.5B -40.3%	$-3.9B
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 -1840.0%	$-5.0M -171.4%	$7.0M 117.9%	$-39.0M -234.5%	$29.0M 108.6%	$-338.0M
Cash Reconciliation net Change In Cash	$-295.0M 96.0%	$-7.3B -301.8%	$3.6B 762.9%	$-545.0M -142.0%	$1.3B 104.1%	$-31.5B -196.4%	$32.6B 1720.4%	$-2.0B -147.9%	$4.2B 227.4%	$-3.3B

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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