AbbVie Inc. (ABBV) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$3.61	$3.65	+1.1%	—	$17B	—
Q4 25	$2.65	$2.71	+2.3%	—	$16.6B	—
Q3 25	$1.78	$1.86	+4.5%	—	$15.8B	—
Q2 25	$2.91	$2.97	+2.1%	—	$15.4B	—
Q1 25	$2.4	$2.46	+2.5%	—	$13.3B	—
Q4 24	$2.12	$2.16	+1.9%	—	$15.1B	—
Q3 24	$2.92	$3	+2.7%	—	$14.5B	—
Q2 24	$2.66	$2.65	-0.4%	—	$14.5B	—
Q1 24	$2.26	$2.31	+2.2%	—	$12.3B	—
Q4 23	$2.8	$2.79	-0.4%	—	$14.3B	—
Q3 23	$2.87	$2.95	+2.8%	—	$13.9B	—
Q2 23	$2.81	$2.91	+3.6%	—	$13.9B	—
Q1 23	$2.49	$2.46	-1.2%	—	$12.2B	—
Q4 22	$3.58	$3.6	+0.6%	—	$15.1B	—
Q3 22	$3.57	$3.66	+2.5%	—	$14.8B	—
Q2 22	$3.31	$3.37	+1.8%	—	$14.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.39	—	—	$61.2B	—
FY24	—	$2.42	—	—	$56.3B	—
FY23	—	$2.73	—	—	$54.3B	—
FY22	—	$6.69	—	—	$58.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$25.6B	$28.2B	$32.8B	$33.3B	$45.8B	$56.2B	$58.1B	$54.3B	$56.3B	$61.2B
YoY change	+12.2%	+10.1%	+16.1%	+1.57%	+37.7%	+22.7%	+3.3%	-6.44%	+3.71%	+8.57%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	25.6B	28.2B	32.8B	33.3B	45.8B	56.2B	58.1B	54.3B	56.3B	61.2B
Cost of revenue	5.8B	7B	7.7B	7.4B	15.4B	17.4B	17.4B	20.4B	16.9B	18.2B
Gross profit	19.8B	21.2B	25B	25.8B	30.4B	38.8B	40.6B	33.9B	39.4B	43B
Gross margin	77.3%	75%	76.4%	77.6%	66.4%	69%	70%	62.4%	70%	70.2%
Research & development	4.6B	5.3B	10.8B	6.8B	7.8B	8B	7.2B	8.5B	12.8B	9.1B
Selling, general & administrative	5.9B	6.3B	7.4B	6.9B	11.3B	12.3B	15.3B	12.9B	14.8B	14B
Operating expenses	10.5B	11.6B	18.7B	12.8B	19.1B	20.8B	22.5B	21.1B	27.5B	22.9B
Operating income	9.3B	9.5B	6.4B	13B	11.4B	17.9B	18.1B	12.8B	11.9B	20.1B
Operating margin	36.4%	33.8%	19.5%	39%	24.8%	31.9%	31.2%	23.5%	21.1%	32.8%
Non-operating income, net	-491M	-814M	-42M	-3B	-5.7B	-2.6B	-2.6B	-4.8B	-6B	-10.9B
Pretax income	7.9B	7.7B	5.2B	8.4B	3.4B	13B	13.5B	6.3B	3.7B	6.6B
Income tax	1.9B	2.4B	-490M	544M	-1.2B	1.4B	1.6B	1.4B	-570M	2.4B
Net income	6B	5.3B	5.7B	7.9B	4.6B	11.5B	11.8B	4.9B	4.3B	4.2B
Net margin	23.2%	18.8%	17.4%	23.7%	10.1%	20.6%	20.4%	8.97%	7.61%	6.92%
EBITDA	10.4B	10.7B	8.3B	12.3B	12.4B	24B	24.3B	17.3B	17.7B	22.7B
EPS	3.74	3.33	3.85	5.33	2.62	6.53	6.69	2.73	2.42	2.39
Diluted EPS	3.63	3.3	3.66	5.28	2.62	6.45	6.63	2.72	2.39	2.36

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	13.9B	14.3B	12.3B	14.5B	14.5B	15.1B	13.3B	15.4B	15.8B	16.6B	15B	17B
Cost of revenue	6.5B	5.7B	4.1B	4.2B	4.2B	4.4B	4B	4.3B	5.3B	4.6B	4.2B	4.3B
Gross profit	7.4B	8.6B	8.2B	10.3B	10.2B	10.7B	9.3B	11.1B	10.5B	12.1B	10.8B	12.7B
Gross margin	53.4%	60.1%	66.7%	70.9%	70.9%	70.9%	70%	71.8%	66.4%	72.6%	71.9%	74.7%
Research & development	1.7B	2.2B	1.9B	1.9B	2.1B	6.8B	2.1B	2.1B	2.3B	2.6B	2.5B	2.3B
Selling, general & administrative	3.4B	3.2B	3.3B	3.4B	4.2B	3.9B	3.3B	3.3B	3.6B	3.9B	3.6B	3.6B
Operating expenses	5.1B	5.4B	5.3B	5.3B	6.3B	10.6B	5.4B	5.4B	5.9B	6.3B	6B	6B
Operating income	2.3B	3.2B	3B	4.9B	3.9B	84M	4B	5.7B	4.6B	5.8B	4.7B	6.7B
Operating margin	16.9%	22.3%	24.1%	34.1%	27.1%	0.56%	29.8%	37.1%	29.1%	35%	31.6%	39.6%
Non-operating income, net	4M	-1.6B	-754M	-2.3B	-1.2B	-1.7B	-1.7B	-3.5B	-3.2B	-2.5B	-3B	-1.8B
Pretax income	2B	1.2B	1.8B	2.1B	2.1B	-2.3B	1.7B	1.6B	714M	2.7B	1B	4.3B
Income tax	172M	388M	383M	773M	520M	-2.2B	372M	613M	526M	853M	342M	662M
Net income	1.8B	824M	1.4B	1.4B	1.6B	-23M	1.3B	941M	188M	1.8B	697M	3.6B
Net margin	12.8%	5.76%	11.1%	9.49%	10.8%	-0.15%	9.66%	6.1%	1.19%	10.9%	4.65%	21.3%
EBITDA	4.8B	3.9B	4.7B	5.9B	5B	2.1B	4.7B	5.2B	6.2B	6.6B	4.4B	7.2B
EPS	1	0.47	0.78	0.77	0.88	-0.01	0.73	0.53	0.11	1.03	0.39	2.04
Diluted EPS	1	0.46	0.77	0.77	0.88	-0.02	0.72	0.52	0.1	1.02	0.39	2.03

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	99.7B	154B	136.3B	130.9B	—	239.4B	285.9B	274B	313.7B	403.9B	470.5B
Enterprise value	130.1B	181.6B	168.6B	157.7B	—	306.3B	340B	320.6B	375.3B	466.2B	531.5B
Shares outstanding	1.6B	1.6B	1.5B	1.5B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	16.8	29	24	16.6	—	20.7	24.1	56.2	73.2	95.4	75
P/S	3.89	5.46	4.16	3.94	—	4.26	4.93	5.04	5.57	6.6	7.31
P/B	21.5	30.2	-16.1	-16	—	15.5	16.5	26.4	93.2	-125.1	-80
EV/EBITDA	12.5	16.9	20.2	12.9	—	12.8	14	18.5	21.2	20.5	17.3
EV/Sales	5.08	6.43	5.15	4.74	—	5.45	5.86	5.9	6.66	7.62	8.26
Earnings yield	5.97%	3.45%	4.17%	6.02%	—	4.82%	4.14%	1.78%	1.37%	1.05%	1.33%
FCF yield	6.58%	6.13%	9.38%	9.75%	—	9.18%	8.48%	8.05%	5.68%	4.41%	3.59%
PEG	—	—	—	—	—	—	—	—	—	—	0.26

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	77.3%	75%	76.4%	77.6%	66.4%	69%	70%	62.4%	70%	70.2%	74.7%
Operating margin	36.4%	33.8%	19.5%	39%	24.8%	31.9%	31.2%	23.5%	21.1%	32.8%	40%
Net margin	23.2%	18.8%	17.4%	23.7%	10.1%	20.6%	20.4%	8.97%	7.61%	6.92%	9.8%
ROE	128.4%	104.2%	-67.3%	-96.5%	35.3%	74.8%	68.5%	46.9%	127.4%	-131.1%	-129.7%
ROA	9.01%	7.5%	9.58%	8.84%	3.07%	7.88%	8.53%	3.62%	3.17%	3.16%	10.5%
ROIC	20.1%	20.1%	26.8%	65.2%	12.5%	19.4%	22.3%	17.5%	18.3%	21.8%	27.2%
Return on tangible assets	-26.4%	-33.4%	-39.4%	38.2%	-5.68%	-16.5%	-19.6%	-11.9%	-7.81%	-9.94%	-18.5%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.65	1.28	0.98	3.18	0.84	0.79	0.96	0.87	0.66	0.67	0.81
Quick ratio	1.51	1.18	0.89	3.06	0.73	0.7	0.84	0.76	0.55	0.56	0.69
Debt / equity	7.95	7.33	-4.77	-8.17	6.57	4.97	3.66	5.71	20	-20.9	-0.12
Debt / assets	0.56	0.53	0.68	0.75	0.57	0.52	0.46	0.44	0.5	0.5	0.52
Net debt / EBITDA	2.92	2.57	3.87	2.18	6.26	2.79	2.22	2.69	3.48	2.74	2.62
Interest coverage	8.53	7.72	4.86	5.72	2.38	6.36	7.04	3.81	2.32	3.28	3.98
Effective tax rate	24.5%	31.3%	0%	6.46%	0%	11.1%	12.1%	22%	0%	35.8%	27.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	16.1	17.7	22.1	22.5	25.9	31.8	32.8	30.7	31.9	34.6	36.4
EPS (basic)	3.74	3.33	3.85	5.33	2.62	6.53	6.69	2.73	2.42	2.39	2.39
EPS (diluted)	3.63	3.3	3.66	5.28	2.62	6.45	6.63	2.72	2.39	2.36	3.55
Book value per share	2.91	3.2	-5.71	-5.53	7.42	8.73	9.77	5.88	1.91	-1.83	-3.36
FCF per share	4.12	5.92	8.65	8.64	9.51	12.4	13.7	12.5	10.1	10.1	10.3
Cash per share	4.03	6.15	5.45	27	4.8	5.56	5.22	7.25	3.15	2.97	3.72
Capex per share	0.3	0.33	0.43	0.37	0.45	0.45	0.39	0.44	0.55	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.87%	1.87%	1.95%	1.66%	1.74%	1.4%	1.2%	1.43%	1.73%	—	—
Capex / operating cash flow	6.75%	5.44%	7.46%	4.3%	4.56%	3.45%	3.11%	4.04%	7.24%	—	—
Payout ratio	62.4%	77.4%	98.1%	80.8%	166.9%	80.2%	84.8%	216.3%	257.2%	275.4%	190.4%
Dividend yield	3.73%	2.67%	4.09%	4.86%	—	3.87%	3.51%	3.85%	3.51%	2.89%	2.6%

Yield

2.6%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.73

ex-dividend Jul 15, 2026

Payout ratio

190%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 15, 2026	$1.73
Apr 15, 2026	$1.73
Jan 16, 2026	$1.73
Oct 15, 2025	$1.64

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$13.9B	$14.3B	$12.3B	$14.5B	$14.5B	$15.1B	$13.3B	$15.4B	$15.8B	$16.6B	$15B	$17B
YoY change	-5.97%	-5.42%	+0.7%	+4.31%	+3.83%	+5.6%	+8.39%	+6.65%	+9.1%	+10%	+12.4%	+10.2%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	6.4B	9.8B	8.1B	39.9B	8.5B	9.8B	9.2B	12.8B	5.6B	5.3B
Receivables	4.8B	5.1B	5.4B	5.4B	8.8B	10B	11.3B	11.2B	10.9B	12.6B
Inventory	1.4B	1.6B	1.6B	1.8B	3.3B	3.1B	3.6B	4.1B	4.2B	5B
Total current assets	16.2B	21.2B	16.9B	49.5B	24.2B	27.9B	28.5B	33B	25.6B	29.1B
Property, plant & equipment	1.3B	1.4B	1.3B	1.3B	2.7B	2.3B	2.2B	2.2B	10.2B	2.6B
Goodwill & intangibles	88.6B	86.7B	73.8B	68.5B	232B	216.7B	199.2B	175.8B	190B	176.6B
Total assets	66.1B	70.8B	59.4B	89.1B	150.6B	146.5B	138.8B	134.7B	135.2B	134B
Accounts payable	1.4B	1.5B	1.5B	1.5B	2.3B	2.9B	2.9B	3.7B	2.9B	3.6B
Short-term debt	402M	6.4B	5.3B	3.8B	8.5B	12.5B	4.1B	7.2B	6.8B	8.6B
Total current liabilities	9.8B	16.6B	17.2B	15.6B	28.7B	35.2B	29.5B	37.8B	38.7B	43.3B
Long-term debt	36.4B	31B	35B	63B	77.6B	64.2B	59.1B	52.2B	60.3B	58.9B
Total liabilities	61.5B	65.7B	67.8B	97.3B	137.5B	131.1B	121.5B	124.3B	131.8B	137.2B
Shareholders' equity	4.6B	5.1B	-8.4B	-8.2B	13.1B	15.4B	17.3B	10.4B	3.4B	-3.2B
Total debt	36.8B	37.4B	40.3B	66.7B	86.1B	76.7B	63.3B	59.4B	67.1B	67.5B
Net debt	31.7B	28.1B	33B	26.8B	77.6B	66.9B	54.1B	46.6B	61.6B	62.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	13.3B	12.8B	18.1B	13.2B	7.3B	5.6B	5.2B	6.5B	5.7B	5.3B	9.4B	6.6B
Receivables	11.4B	11.2B	11.9B	11.7B	11.5B	10.9B	12.5B	12.6B	12.8B	12.6B	12.5B	13.8B
Inventory	4B	4.1B	4.2B	4.2B	4.5B	4.2B	4.5B	5B	4.9B	5B	5B	5.1B
Total current assets	33.2B	33B	38.9B	33.8B	27.8B	25.6B	27.7B	29.3B	28.5B	29.1B	33.5B	33.7B
Property, plant & equipment	-6.4B	2.2B	-6.7B	-6.9B	-7.1B	10.2B	-7.3B	-7.7B	-7.7B	2.6B	-8B	-8.2B
Goodwill & intangibles	181.4B	175.8B	191.3B	187.3B	203.9B	190B	187.5B	185.3B	179.9B	176.6B	172.9B	169.3B
Total assets	136.2B	134.7B	148.9B	141.9B	143.4B	135.2B	136.2B	137.2B	133.9B	134B	136.5B	135.1B
Accounts payable	—	3.7B	—	—	—	2.9B	—	—	—	3.6B	—	—
Short-term debt	5.1B	7.2B	10.2B	12.6B	12.6B	6.8B	5.4B	7.5B	5.8B	8.6B	8.3B	8.3B
Total current liabilities	34.8B	37.8B	41.5B	41.9B	43.1B	38.7B	36.4B	39.8B	39.4B	43.3B	42.1B	41.6B
Long-term debt	55.6B	52.2B	63.8B	58B	58.5B	60.3B	64.5B	63B	63B	58.9B	64.5B	62.5B
Total liabilities	124.1B	124.3B	140.8B	135.1B	137.4B	131.8B	134.7B	137.3B	136.5B	137.2B	143.1B	141B
Shareholders' equity	12.1B	10.4B	8B	6.8B	6.1B	3.4B	1.5B	-138M	-2.6B	-3.2B	-6.6B	-5.9B
Total debt	60.7B	59.4B	74B	70.6B	71.1B	67.1B	69.9B	70.5B	68.7B	67.5B	72.9B	70.8B
Net debt	47.5B	46.6B	55.9B	57.5B	63.8B	61.6B	64.7B	64B	63.1B	62.3B	63.5B	64.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	6B	5.3B	5.7B	7.9B	4.6B	11.5B	11.8B	4.9B	4.3B	4.2B
Depreciation & amortization	1.2B	1.5B	1.8B	2B	6.5B	8.5B	8.5B	8.7B	8.4B	8.1B
Stock-based compensation	353M	365M	421M	430M	753M	692M	671M	747M	911M	955M
Change in working capital	-1.3B	127M	591M	-1.2B	-28M	-1B	170M	3B	-3.1B	-1.5B
Operating cash flow	7.1B	9.7B	8.6B	12.8B	17.5B	22.8B	22.4B	19.2B	13.5B	19B
Capital expenditure	-479M	-529M	-638M	-552M	-798M	-787M	-695M	-777M	-974M	—
Investing cash flow	-6.1B	-274M	-1B	596M	-37.6B	-2.3B	-623M	-2B	-20.8B	-5.4B
Dividends paid	-3.7B	-4.1B	-5.6B	-6.4B	-7.7B	-9.3B	-10B	-10.5B	-11B	-11.7B
Share repurchases	-6B	-1.4B	-12B	-629M	-978M	-934M	-1.5B	-2B	-1.7B	-980M
Financing cash flow	-4.2B	-5.8B	-14.5B	15B	-11.7B	-19.3B	-25.1B	-17.4B	-10.4B	-15.7B
Net change in cash	-3.2B	3.7B	-6.9B	28.4B	-31.8B	1.2B	-3.3B	-170M	-17.8B	-2.1B
Free cash flow	6.6B	9.4B	12.8B	12.8B	16.8B	22B	24.2B	22.1B	17.8B	17.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	188M	1.8B	697M	3.6B
Depreciation & amortization	—	—	—	—	—	—	—	—	2.1B	2B	1.9B	1.9B
Stock-based compensation	—	—	—	—	—	—	—	—	209M	157M	444M	166M
Change in working capital	2M	339M	-702M	178M	344M	387M	-1.5B	-17M	1.2B	185M	-1.8B	-2.5B
Operating cash flow	2M	339M	-702M	178M	344M	387M	-1.5B	-17M	7B	5.2B	3.8B	3.4B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	-2.9B	-1.1B	-309M	-875M
Dividends paid	—	—	—	—	—	—	—	—	-2.9B	-2.9B	-3.1B	-3.1B
Share repurchases	—	—	—	—	—	—	—	—	-4M	-3M	-1.5B	-9M
Financing cash flow	—	—	—	—	—	—	—	—	-6.7B	-5B	-1.6B	-5.1B
Net change in cash	2M	339M	-702M	178M	344M	387M	-1.5B	-17M	-2.6B	-921M	1.9B	-2.5B
Free cash flow	—	—	—	—	—	—	—	—	6.6B	4.9B	3.6B	3.1B

AbbVie Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement