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 revenue.

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	8.5%	9.8%	23.6%	15.8%	17.3%	18.4%	120.0%	22.3%	33.0%	19.9%
Short Term Investments	0.0%	0.1%	0.0%	0.0%	0.1%	0.1%	0.0%	2.4%	1.7%	5.2%
Accounts Receivable	20.6%	19.4%	20.5%	19.4%	17.8%	19.3%	16.3%	16.4%	18.0%	18.6%
Inventory	8.1%	7.4%	7.5%	6.2%	5.6%	7.2%	5.5%	4.9%	5.7%	5.6%
Prepaid Expenses	10.2%	8.7%	9.1%	7.6%	8.9%	7.8%	7.1%	5.8%	16.8%	13.9%
Total Current Assets	47.5%	45.4%	60.8%	49.0%	49.7%	52.8%	148.9%	51.7%	75.2%	63.1%
Property,Plant and Equipment	9.2%	9.1%	9.2%	8.5%	9.1%	11.5%	8.9%	8.8%	9.9%	10.2%
Goodwill	58.3%	62.1%	59.5%	55.4%	57.6%	72.3%	46.9%	47.8%	55.9%	60.1%
Intangible Assets	86.1%	106.6%	102.4%	116.2%	135.2%	180.9%	56.1%	64.8%	97.7%	112.7%
Long Term Investments	0.4%	0.5%	0.6%	0.4%	0.5%	0.6%	0.3%	4.3%	7.4%	7.0%
Other Noncurrent Assets	17.5%	16.2%	15.7%	9.6%	8.7%	10.6%	6.9%	3.7%	4.7%	4.7%
Total Assets	219.0%	239.9%	248.0%	239.1%	260.7%	328.7%	267.9%	181.2%	250.9%	257.8%
Liabilities
Accounts Payable	56.8%	56.7%	56.4%	43.8%	40.4%	44.0%	35.6%	36.4%	36.2%	36.6%
Current Portion of Long Term Debt	14.0%	12.1%	13.2%	7.1%	22.2%	18.6%	11.3%	16.2%	22.7%	1.6%
Total Current Liabilities	70.8%	68.8%	69.7%	50.9%	62.6%	62.6%	46.8%	52.6%	59.0%	38.2%
Long Term Debt	96.4%	107.1%	96.1%	101.9%	114.2%	169.3%	189.3%	106.9%	109.7%	142.1%
Deferred Tax Liabilities	3.9%	4.6%	3.6%	3.8%	5.4%	8.0%	3.4%	3.3%	8.8%	26.9%
Other Noncurrent Liabilities	53.3%	53.5%	59.5%	52.8%	51.1%	60.3%	52.9%	44.2%	55.3%	32.6%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%
Additional Paid In Capital	36.8%	37.9%	37.2%	33.2%	32.6%	38.0%	45.7%	45.1%	50.6%	53.4%
Retained Earnings	-25.3%	-14.0%	-1.8%	8.2%	5.6%	2.3%	14.2%	10.3%	19.3%	17.1%
Treasury Stock	15.0%	14.6%	12.0%	7.9%	5.6%	4.9%	73.7%	73.6%	42.3%	42.3%
Accumulated Other Comprehensive Income	-1.9%	-3.4%	-4.2%	-3.8%	-5.2%	-6.8%	-10.8%	-7.6%	-9.7%	-10.1%
Total Stockholders Equity	-5.3%	5.9%	19.1%	29.7%	27.4%	28.5%	-24.6%	-25.8%	18.1%	18.1%
Noncontrolling Interest	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	—	—	—
Total Liabilitiesand Equity	219.0%	239.9%	248.0%	239.1%	260.7%	328.7%	267.9%	181.2%	250.9%	257.8%

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	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	29.8%	30.0%	37.6%	30.0%	31.0%	33.6%	22.4%	23.6%	25.0%	22.7%
Expenses Research and Development	23.1%	27.6%	15.6%	12.4%	14.3%	17.0%	20.4%	32.8%	18.9%	17.9%
Expenses Selling,General and Administrative	22.9%	26.2%	23.7%	26.3%	22.0%	24.7%	20.9%	22.6%	22.3%	22.9%
Expenses Other Operating Expenses	-0.4%	-0.0%	-0.3%	0.1%	0.8%	0.0%	-2.7%	1.5%	0.0%	0.0%
Other Income Expense Operating Income	24.6%	16.2%	23.5%	31.2%	31.9%	24.8%	39.0%	19.5%	33.8%	36.4%
Other Income Expense Interest Expense	4.3%	3.8%	3.1%	—	—	5.0%	—	—	3.6%	3.8%
Other Income Expense Other Income/expense	-9.6%	-5.8%	-8.9%	-4.5%	-4.5%	-12.4%	-9.2%	-0.1%	-2.9%	-1.9%
Other Income Expense Income Before Tax	10.8%	6.6%	11.5%	23.2%	23.1%	7.4%	25.3%	15.9%	27.4%	30.8%
Income Tax Income Tax Expense	3.9%	-1.0%	2.5%	2.8%	2.6%	-2.7%	1.6%	-1.5%	8.6%	7.5%
net Income Other Items Below Tax	-0.0%	-0.0%	-0.0%	-3.5%	-4.3%	-0.0%	-4.5%	-3.5%	—	—
net Income net Income	6.9%	7.6%	9.0%	20.4%	20.5%	10.1%	23.7%	17.4%	18.8%	23.2%
net Income Comprehensive Income	8.2%	8.3%	8.8%	21.6%	20.9%	11.1%	20.3%	18.1%	18.3%	23.1%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	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%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	2.9%	3.1%	3.3%	3.1%	3.2%	3.7%	4.5%	4.7%	5.7%	6.4%

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	6.9%	7.6%	9.0%	20.4%	20.6%	10.1%	23.7%	17.4%	18.8%	23.2%
Operating Activities Depreciation and Amortization	13.3%	14.8%	15.9%	14.6%	15.1%	14.1%	6.2%	5.4%	5.3%	3.0%
Operating Activities Stock Based Compensation	1.6%	1.6%	1.4%	1.2%	1.2%	1.6%	1.3%	1.3%	1.3%	1.4%
Operating Activities Deferred Income Taxes	-0.8%	-2.6%	-5.3%	-3.3%	-1.6%	-5.1%	0.4%	-4.6%	—	—
Operating Activities Changes In Operating Assets and Liabilities	-3.9%	-4.9%	5.2%	-0.2%	-2.2%	0.2%	-4.4%	1.2%	0.0%	-6.6%
Operating Activities Other Non Cash Items	14.0%	16.8%	15.8%	10.3%	7.4%	17.4%	13.0%	20.4%	9.8%	4.8%
Operating Activities net Cash From Operating Activities	31.1%	33.4%	42.0%	43.0%	40.5%	38.4%	40.1%	41.0%	35.3%	27.5%
Investing Activities Capital Expenditures	-2.0%	-1.7%	-1.4%	-1.2%	-1.4%	-1.7%	-1.7%	-1.9%	-1.9%	-1.9%
Investing Activities Business Acquisitions	-0.3%	-31.1%	0.0%	-0.4%	-0.9%	-83.5%	0.0%	0.0%	—	-9.7%
Investing Activities Purchases of Investments	-8.6%	-5.5%	-2.4%	-3.4%	-2.7%	-3.2%	-5.1%	-7.7%	-9.0%	-21.8%
Investing Activities Proceeds From Sale of Investments	0.1%	1.0%	0.1%	2.6%	0.2%	3.3%	8.1%	6.6%	9.9%	9.2%
Investing Activities Other Investing Activities	-0.0%	0.3%	0.0%	1.3%	0.7%	3.0%	0.5%	0.0%	0.0%	0.5%
Investing Activities net Cash From Investing Activities	-10.9%	-37.0%	-3.7%	-1.1%	-4.2%	-82.0%	1.8%	-3.1%	-1.0%	-23.7%
Financing Activities Proceeds From Debt	14.4%	39.0%	0.0%	3.4%	1.8%	6.5%	94.6%	27.4%	0.0%	45.4%
Financing Activities Repayment of Debt	-15.7%	-26.0%	-7.6%	-24.9%	-16.8%	-12.4%	-13.6%	-18.4%	-0.1%	-23.4%
Financing Activities Repurchase of Common Stock	-1.6%	-3.0%	-3.6%	-2.6%	-1.7%	-2.1%	-1.9%	-36.7%	-5.0%	-23.5%
Financing Activities Dividends Paid	-19.1%	-19.6%	-19.4%	-17.3%	-16.5%	-16.8%	-19.1%	-17.0%	-14.6%	-14.5%
Financing Activities Proceeds From Stock Issuance	0.3%	0.4%	0.3%	0.5%	0.4%	0.5%	0.0%	0.2%	0.9%	1.0%
Financing Activities Other Financing Activities	0.9%	-0.1%	-1.4%	-1.9%	-1.2%	-0.7%	-3.8%	0.6%	-0.8%	-0.2%
Financing Activities net Cash From Financing Activities	-20.8%	-9.3%	-31.7%	-42.7%	-33.9%	-25.1%	56.2%	-44.0%	-19.5%	-15.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%	-0.1%	-0.2%	-0.0%	0.0%	-0.1%	0.1%	-1.3%
Cash Reconciliation net Change In Cash	-0.5%	-12.9%	6.7%	-0.9%	2.3%	-68.7%	98.1%	-6.1%	14.9%	-12.9%

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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Operating, investing, and financing flows

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