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

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $134.0B

Total liabilities $43.3B

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%
Accounts Receivable	20.6%	19.4%	20.5%	19.4%	17.8%	19.3%	16.3%	16.4%	0.2%	0.3%
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%
Other Current Assets	17.5%	16.2%	15.7%	9.6%	8.7%	10.6%	6.9%	3.7%	4.7%	4.7%
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%	5.2%	6.8%	5.1%	5.1%	5.0%	4.4%	4.7%	5.2%	5.5%
Accrued Liabilities	56.8%	11.8%	11.9%	10.0%	11.7%	13.6%	8.9%	11.4%	11.6%	11.6%
Current Portion of Long Term Debt	4.1%	—	0.0%	0.0%	0.0%	0.1%	0.0%	11.3%	1.4%	1.5%
Other Current Liabilities	53.3%	53.5%	59.5%	52.8%	51.1%	60.3%	3.7%	4.0%	4.4%	4.5%
Total Current Liabilities	70.8%	68.8%	69.7%	50.9%	62.6%	62.6%	46.8%	52.6%	59.0%	38.2%
Deferred Tax Liabilities	3.9%	4.6%	3.6%	3.8%	5.4%	8.0%	10.2%	10.4%	14.7%	34.1%
Other Noncurrent Liabilities	53.3%	53.5%	59.5%	52.8%	51.1%	60.3%	3.7%	4.0%	4.4%	4.5%
Total Liabilities	70.8%	68.8%	69.7%	50.9%	62.6%	62.6%	46.8%	52.6%	59.0%	38.2%
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%
Noncontrolling Interest	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	—	—	—	—
Total Stockholders Equity	-5.3%	5.9%	19.1%	29.7%	27.4%	28.5%	-24.6%	-25.8%	18.1%	18.1%
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

19 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	14.9%	22.7%	14.1%	11.2%	12.3%	13.9%	19.3%	31.5%	17.7%	17.1%
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 Depreciation and Amortization	12.1%	13.5%	14.6%	13.2%	13.7%	12.7%	4.7%	4.0%	3.8%	3.0%
Expenses Share Based Compensation	1.6%	1.6%	1.4%	1.2%	1.2%	1.6%	1.3%	1.3%	1.3%	1.4%
Expenses Operating Expenses	75.4%	83.8%	76.5%	68.8%	68.1%	75.2%	61.0%	80.5%	66.2%	63.6%
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 Income	0.4%	1.2%	1.0%	0.3%	0.1%	0.4%	0.8%	0.6%	0.5%	0.3%
Other Income Expense Interest Expense	4.7%	5.0%	4.1%	3.8%	4.3%	5.4%	5.4%	4.1%	4.1%	4.1%
Other Income Expense Other Income/expense	-9.5%	-5.8%	-8.6%	-4.2%	-4.4%	-12.3%	-9.0%	-0.1%	-1.7%	-0.7%
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 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 Basic	2.9%	3.1%	3.3%	3.1%	3.1%	3.6%	4.5%	4.7%	5.7%	6.3%
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%	20.5%	10.1%	23.7%	17.4%	18.8%	23.2%
Operating Activities Depreciation and Amortization	1.2%	1.4%	1.4%	1.3%	1.4%	1.5%	1.4%	1.4%	1.5%	1.7%
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%	-14.8%	-3.1%
Operating Activities Changes In Operating Assets and Liabilities	4.2%	-0.4%	1.0%	4.1%	3.0%	1.8%	1.6%	3.1%	1.5%	2.0%
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%	—
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%	0.0%	9.7%
Investing Activities Purchases of Investments	0.1%	0.1%	0.1%	2.5%	0.2%	0.1%	1.8%	5.5%	7.9%	20.7%
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%	—
Financing Activities Proceeds From Debt	6.5%	30.1%	—	3.4%	1.8%	6.5%	94.6%	18.2%	0.0%	45.4%
Financing Activities Repayment of Debt	4.6%	8.9%	0.0%	0.0%	0.0%	0.0%	9.0%	0.0%	0.0%	—
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	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.1%	0.0%	0.1%	0.1%
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%
Cash Reconciliation Cash At Beginning of Period	8.5%	9.8%	23.6%	15.8%	17.3%	18.4%	120.0%	22.3%	33.0%	19.9%
Cash Reconciliation Cash At End of Period	8.5%	9.8%	23.6%	15.8%	17.3%	18.4%	120.0%	22.3%	33.0%	19.9%

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%	—
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	-161.2%	—	—	+197.7%	+280.8%	+243.8%	—	-53.0%	-172.3%	-8106.2%
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	0.56x	0.53x
Leverage
D/E	-13.24x	11.65x	3.65x	1.71x	2.28x	2.19x	-1.91x	-2.04x	3.26x	2.11x
Interest coverage	5.21x	3.25x	5.74x	8.12x	7.40x	4.63x	7.28x	4.74x	8.30x	8.92x
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	+97d	+82d	+84d	+70d	+95d	+77d	+63d	+8d	+3d

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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Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

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