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 · 5 years

Total assets $134.0B

Total liabilities $43.3B

Shareholders equity $-3.3B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	8.5%	9.8%	23.6%	15.8%	17.3%
Accounts Receivable	20.6%	19.4%	20.5%	19.4%	17.8%
Inventory	8.1%	7.4%	7.5%	6.2%	5.6%
Prepaid Expenses	10.2%	8.7%	9.1%	7.6%	8.9%
Other Current Assets	17.5%	16.2%	15.7%	9.6%	8.7%
Total Current Assets	47.5%	45.4%	60.8%	49.0%	49.7%
Property,Plant and Equipment	9.2%	9.1%	9.2%	8.5%	9.1%
Goodwill	58.3%	62.1%	59.5%	55.4%	57.6%
Intangible Assets	86.1%	106.6%	102.4%	116.2%	135.2%
Long Term Investments	0.4%	0.5%	0.6%	0.4%	0.5%
Other Noncurrent Assets	17.5%	16.2%	15.7%	9.6%	8.7%
Total Assets	219.0%	239.9%	248.0%	239.1%	260.7%
Liabilities
Accounts Payable	56.8%	5.2%	6.8%	5.1%	5.1%
Accrued Liabilities	56.8%	11.8%	11.9%	10.0%	11.7%
Current Portion of Long Term Debt	4.1%	—	0.0%	0.0%	0.0%
Other Current Liabilities	53.3%	53.5%	59.5%	52.8%	51.1%
Total Current Liabilities	70.8%	68.8%	69.7%	50.9%	62.6%
Deferred Tax Liabilities	3.9%	4.6%	3.6%	3.8%	5.4%
Other Noncurrent Liabilities	53.3%	53.5%	59.5%	52.8%	51.1%
Total Liabilities	70.8%	68.8%	69.7%	50.9%	62.6%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	36.8%	37.9%	37.2%	33.2%	32.6%
Retained Earnings	-25.3%	-14.0%	-1.8%	8.2%	5.6%
Treasury Stock	15.0%	14.6%	12.0%	7.9%	5.6%
Accumulated Other Comprehensive Income	-1.9%	-3.4%	-4.2%	-3.8%	-5.2%
Noncontrolling Interest	0.1%	0.1%	0.1%	0.1%	0.0%
Total Stockholders Equity	-5.3%	5.9%	19.1%	29.7%	27.4%
Total Liabilitiesand Equity	219.0%	239.9%	248.0%	239.1%	260.7%

Income Statement

Revenue, expense, and profitability

19 accounts · 5 years

Revenue $61.2B

Operating income $15.1B

Net income $4.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	29.8%	30.0%	37.6%	30.0%	31.0%
Expenses Research and Development	14.9%	22.7%	14.1%	11.2%	12.3%
Expenses Selling,General and Administrative	22.9%	26.2%	23.7%	26.3%	22.0%
Expenses Depreciation and Amortization	12.1%	13.5%	14.6%	13.2%	13.7%
Expenses Share Based Compensation	1.6%	1.6%	1.4%	1.2%	1.2%
Expenses Operating Expenses	75.4%	83.8%	76.5%	68.8%	68.1%
Other Income Expense Operating Income	24.6%	16.2%	23.5%	31.2%	31.9%
Other Income Expense Interest Income	0.4%	1.2%	1.0%	0.3%	0.1%
Other Income Expense Interest Expense	4.7%	5.0%	4.1%	3.8%	4.3%
Other Income Expense Other Income/expense	-9.5%	-5.8%	-8.6%	-4.2%	-4.4%
Other Income Expense Income Before Tax	10.8%	6.6%	11.5%	23.2%	23.1%
Income Tax Income Tax Expense	3.9%	-1.0%	2.5%	2.8%	2.6%
net Income net Income	6.9%	7.6%	9.0%	20.4%	20.5%
net Income Comprehensive Income	8.2%	8.3%	8.8%	21.6%	20.9%
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 Basic	2.9%	3.1%	3.3%	3.1%	3.1%
Earnings Per Share Weighted Average Shares Diluted	2.9%	3.1%	3.3%	3.1%	3.2%

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	6.9%	7.6%	9.0%	20.4%	20.5%
Operating Activities Depreciation and Amortization	1.2%	1.4%	1.4%	1.3%	1.4%
Operating Activities Stock Based Compensation	1.6%	1.6%	1.4%	1.2%	1.2%
Operating Activities Deferred Income Taxes	-0.8%	-2.6%	-5.3%	-3.3%	-1.6%
Operating Activities Changes In Operating Assets and Liabilities	4.2%	-0.4%	1.0%	4.1%	3.0%
Operating Activities net Cash From Operating Activities	31.1%	33.4%	42.0%	43.0%	40.5%
Investing Activities Capital Expenditures	2.0%	1.7%	1.4%	1.2%	1.4%
Investing Activities Business Acquisitions	0.3%	31.1%	0.0%	0.4%	0.9%
Investing Activities Purchases of Investments	0.1%	0.1%	0.1%	2.5%	0.2%
Investing Activities Other Investing Activities	0.0%	-0.3%	-0.0%	-1.3%	-0.7%
Investing Activities net Cash From Investing Activities	-10.9%	-37.0%	-3.7%	-1.1%	-4.2%
Financing Activities Proceeds From Debt	6.5%	30.1%	—	3.4%	1.8%
Financing Activities Repayment of Debt	4.6%	8.9%	0.0%	0.0%	0.0%
Financing Activities Repurchase of Common Stock	1.6%	3.0%	3.6%	2.6%	1.7%
Financing Activities Dividends Paid	19.1%	19.6%	19.4%	17.3%	16.5%
Financing Activities Proceeds From Stock Issuance	0.3%	0.4%	0.3%	0.5%	0.4%
Financing Activities Other Financing Activities	0.1%	0.1%	0.1%	0.1%	0.0%
Financing Activities net Cash From Financing Activities	-20.8%	-9.3%	-31.7%	-42.7%	-33.9%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%	-0.1%	-0.2%
Cash Reconciliation net Change In Cash	-0.5%	-12.9%	6.7%	-0.9%	2.3%
Cash Reconciliation Cash At Beginning of Period	8.5%	9.8%	23.6%	15.8%	17.3%
Cash Reconciliation Cash At End of Period	8.5%	9.8%	23.6%	15.8%	17.3%

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	-161.2%	—	—	+197.7%	+280.8%
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	-13.24x	11.65x	3.65x	1.71x	2.28x
Interest coverage	5.21x	3.25x	5.74x	8.12x	7.40x
Efficiency
Asset turnover	0.46x	0.42x	0.40x	0.42x	0.38x
Cash conversion cycle	-522d	+97d	+82d	+84d	+70d

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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