FirmAtlas
Company handbook · ABBV · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ABBV · CIK 1551152 · LATEST FILING: 10-Q JUN '26 · FILED AUG 3, 2026
AbbVie Inc.
$285.42
+2.02 (+0.71%)
Close, Oct 16, 2026 · 52-week $191–291
Last fiscal year
AbbVie Inc. reported revenue of $61.2B for the year ended Dec 31, 2025 (FY25), up 8.6% from FY24. Net income was $4.2B, operating cash flow $19.0B and free cash flow $17.8B. Source: 10-K filed Feb 20, 2026.
Market cap
$506.0B
P/E
80.2
EV/EBITDA
35.7x
P/B
n/m
Div yield
2.42%
ROIC
15.9%
Revenue 1Y
8.6%/yr
EPS 1Y
−1.3%/yr
Shares 1Y
+0.0%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEORobert A. Michael
HQNorth Chicago, IL
AuditorErnst & Young LLP
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
16.8%
21.2%
24.7%
25.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$45.3B deployed
Capex
$2.2B
4.8%
Acquisitions
$17.7B
39.1%
Dividends
$22.7B
50.1%
Buybacks
$2.7B
5.9%
Operating cash flow over the period: $37.8B. Total debt changed by −$2.1B. R&D of $21.9B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
56,334
61,160+8.6%
64,386
YoY
+8.6%
Gross profit
39,430
42,956+8.9%
46,021
Gross margin
70.0%
70.2%+0.2 pp
—
Operating income
9,137
15,075+65.0%
16,870
Operating margin
16.2%
24.6%+8.4 pp
—
EBITDA
9,901
15,837+60.0%
—
EBITDA margin
17.6%
25.9%+8.3 pp
—
Interest expense
2,808
2,893+3.0%
—
Interest coverage
3.53x
5.47x+1.95x
—
Net income
4,278
4,226−1.2%
6,310
YoY
−1.2%
Net margin
7.6%
6.9%−0.7 pp
—
EPS (diluted, $)
2.39
2.36−1.3%
3.54
YoY
−1.3%
Balance sheet
Total assets
135,161
133,960−0.9%
135,115
Cash & short-term investments
5,555
5,257−5.4%
—
Accounts receivable
10,919
12,589+15.3%
—
Inventory
4,181
4,951+18.4%
—
Net PP&E
5,134
5,628+9.6%
—
Other assets
109,372
105,535−3.5%
—
Total liabilities
131,836
137,230+4.1%
141,050
Accounts payable
2,945
3,592+22.0%
—
Total debt
67,144
64,997−3.2%
62,481
Other liabilities
61,747
68,641+11.2%
—
Shareholders’ equity
3,325
(3,270)−198.3%
(5,935)
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
18,806
19,030+1.2%
19,507
Net income
4,286
4,233−1.2%
—
Depreciation & amortization
764
762−0.3%
—
Stock-based compensation
911
955+4.8%
—
Working capital & other
12,845
13,080+1.8%
—
Cash from investing
(20,820)
(6,643)n/m
—
Capex
(974)
(1,214)n/m
—
Acquisitions
(17,493)
(204)n/m
—
Investments bought
(73)
(35)n/m
—
Investments sold / matured
555
76−86.3%
—
Other investing
(2,835)
(5,266)n/m
—
Cash from financing
(5,211)
(12,724)n/m
—
Debt raised
16,963
3,994−76.5%
—
Debt repaid
(9,613)
(6,797)n/m
—
Dividends
(11,025)
(11,657)n/m
—
Buybacks
(1,708)
(980)n/m
—
Shares issued
214
172−19.6%
—
Other financing
(42)
2,544n/m
—
Net change in cash
(7,290)
(295)n/m
—
Free cash flow (OCF − capex)
17,832
17,816−0.1%
18,210
Where the cash went
Operating cash flow
18,806
19,030+1.2%
19,507
Reinvested in the business
18,467
1,418−92.3%
—
% of operating cash flow
98.2%
7.5%
Capex
974
1,214+24.6%
1,297
Acquisitions
17,493
204−98.8%
—
R&D (memo, already in costs)
12,791
9,096−28.9%
—
Free cash flow
17,832
17,816−0.1%
18,210
YoY
−0.1%
Returned to shareholders
12,733
12,637−0.8%
—
% of free cash flow
71.4%
70.9%
Dividends
11,025
11,657+5.7%
—
Buybacks
1,708
980−42.6%
—
Change in total debt
—
(2,147)
—
Cash left over
—
2,828
—
FCF conversion (FCF ÷ net income)
416.8%
421.6%+4.8 pp
—
Owner earnings
—
1,981
—
Owner earnings margin
—
3.2%
—
Buyback yield
0.5%
0.2%−0.3 pp
—
Returns & ratios
ROIC (all capital)
14.1%
15.9%+1.9 pp
—
ROIC (operating)
52.8%
52.5%−0.4 pp
—
Net debt / EBITDA
6.22x
3.77x−2.45x
—
Debt / equity
20.19x
n/m
—
Cash conversion cycle (days)
97
102+5 d
—
ROE
128.7%
−129.2%−257.9 pp
—
ROA
3.2%
3.2%−0.0 pp
—
ROCE
9.5%
16.6%+7.1 pp
—
NOPAT
9,137
9,673+5.9%
—
Invested capital (operating)
17,289
19,576+13.2%
—
Invested capital (all)
64,914
56,470−13.0%
—
Reinvestment rate
—
23.6%
—
Debtor days
71
75+4 d
—
Inventory days
90
99+9 d
—
Days payable
64
72+8 d
—
Net debt is 3.8x EBITDA (FY25).
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
15,776
16,618
15,002
16,990
vs year-ago quarter
Gross profit
10,472
12,066
10,784
12,699
Gross margin
66.4%
72.6%
71.9%
74.7%
Operating income
1,904
4,544
3,990
6,432
Net income
186
1,816
695
3,613
vs year-ago quarter
Net margin
1.2%
10.9%
4.6%
21.3%
EPS (diluted, $)
0.10
1.02
0.39
2.03
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
133,898
133,960
136,463
135,115
Cash & equivalents
5,629
5,257
9,391
6,569
Total debt
62,971
64,997
64,532
62,481
Shareholders’ equity
(2,642)
(3,270)
(6,656)
(5,935)
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
7,024
5,218
3,829
3,436
Capex
381
329
265
322
Free cash flow
6,643
4,889
3,564
3,114
vs year-ago quarter