AbbVie Inc
ABBVHealthcare|Drug Manufacturers - General|USA
$248.08
-1.83 (-0.73%)
DCF (FCF)
$102.04
Earnings Power
$55.26
Financials
Financial Snapshot
Market Cap
$438.31B
Enterprise Value
$-63.51B
Revenue (TTM)
$62.82B
Net Income (TTM)
$3.63B
Cash & Equivalents
—
Net Cash/Share
$-75.69
Free Cash Flow (TTM)
$19.98B
Operating CF (TTM)
$21.22B
Debt/Equity
-10.95
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $6.42B | $9.79B | $8.06B | $39.92B | $8.48B | $9.83B | $9.23B | $12.82B | $5.55B | $5.26B | $9.39B | |
| Operating Cash Flow | $7.04B | $9.96B | $13.43B | $13.32B | $17.59B | $22.78B | $24.94B | $22.84B | $18.81B | $19.03B | $21.22B | |
| Free Cash Flow | $6.56B | $9.43B | $12.79B | $12.77B | $16.79B | $21.99B | $24.25B | $22.06B | $17.83B | $17.82B | $19.98B | |
| Capital Expenditure | $-479.0M | $-529.0M | $-638.0M | $-552.0M | $-798.0M | $-787.0M | $-695.0M | $-777.0M | $-974.0M | $-1.21B | $-1.24B | |
| Financing Cash Flow | $-3.93B | $-5.51B | $-14.40B | $18.71B | $-11.50B | $-19.04B | $-24.80B | $-17.22B | $-5.21B | $-12.72B | $-10.55B |
R&D Spending
R&D (TTM)
$9.50B
R&D Intensity
15.1%
R&D Growth YoY
+4.5%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.64B | $28.22B | $32.75B | $33.27B | $45.80B | $56.20B | $58.05B | $54.32B | $56.33B | $61.16B | $62.82B | |
| R&D Expense | $4.58B | $5.33B | $10.75B | $6.79B | $7.75B | $8.05B | $6.51B | $7.67B | $12.79B | $9.10B | $9.50B | |
| R&D % of Revenue | 17.9% | 18.9% | 32.8% | 20.4% | 16.9% | 14.3% | 11.2% | 14.1% | 22.7% | 14.9% | 15.1% | |
| SG&A | $5.88B | $6.29B | $7.40B | $6.94B | $11.30B | $12.35B | $15.26B | $12.87B | $14.75B | $14.01B | $14.29B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.64B | $28.22B | $32.75B | $33.27B | $45.80B | $56.20B | $58.05B | $54.32B | $56.33B | $61.16B | $62.82B | |
| Cost of Goods Sold | $5.83B | $7.04B | $7.72B | $7.44B | $15.39B | $17.45B | $17.41B | $20.41B | $16.90B | $18.20B | $18.42B | |
| Gross Profit | $19.81B | $21.17B | $25.04B | $25.83B | $30.42B | $38.75B | $40.64B | $33.90B | $39.43B | $42.96B | $44.40B | |
| R&D | $4.58B | $5.33B | $10.75B | $6.79B | $7.75B | $8.05B | $6.51B | $7.67B | $12.79B | $9.10B | $9.50B | |
| SG&A | $5.88B | $6.29B | $7.40B | $6.94B | $11.30B | $12.35B | $15.26B | $12.87B | $14.75B | $14.01B | $14.29B | |
| Operating Income | $9.34B | $9.54B | $6.38B | $12.98B | $11.36B | $17.92B | $18.81B | $13.54B | $11.89B | $20.09B | $20.84B | |
| Interest Expense | $-1.05B | $-1.15B | $-1.35B | $-1.78B | $-2.45B | $-2.42B | $-2.23B | $-2.22B | $-2.81B | $-2.89B | $-2.91B | |
| Pretax Income | $7.88B | $7.73B | $5.20B | $8.43B | $3.40B | $12.99B | $13.48B | $6.25B | $3.72B | $6.60B | $5.97B | |
| Net Income | $5.95B | $5.31B | $5.69B | $7.88B | $4.62B | $11.54B | $11.84B | $4.86B | $4.28B | $4.23B | $3.63B | |
| EPS (Diluted) | 3.63 | 3.30 | 3.66 | 5.28 | 2.72 | 6.45 | 6.63 | 2.72 | 2.39 | 2.37 | 2.03 | |
| EBITDA | $10.12B | $10.38B | $8.31B | $12.23B | $12.32B | $23.93B | $24.17B | $17.17B | $14.91B | $17.63B | $16.92B | |
| Shares Out. (M) | 1631.00 | 1603.00 | 1546.00 | 1484.00 | 1673.00 | 1777.00 | 1778.00 | 1773.00 | 1773.00 | 1773.00 | 1774.00 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.10B | $9.30B | $7.29B | $39.92B | $8.45B | $9.75B | $9.20B | $12.81B | $5.52B | $5.23B | $9.39B | |
| Marketable Securities | $1.32B | $486.0M | $772.0M | $0.00 | $30.0M | $84.0M | $28.0M | $2.0M | $31.0M | $28.0M | $0.00 | |
| Total Current Assets | $16.19B | $21.22B | $16.95B | $49.52B | $24.17B | $27.93B | $28.46B | $33.00B | $25.58B | $29.06B | $33.53B | |
| Total Assets | $66.10B | $70.79B | $59.35B | $89.11B | $150.56B | $146.53B | $138.81B | $134.71B | $135.16B | $133.96B | $136.46B | |
| Total Current Liabilities | $9.78B | $16.64B | $17.24B | $15.59B | $28.66B | $35.19B | $29.54B | $37.84B | $38.75B | $43.29B | $42.10B | |
| Long-Term Debt | $36.44B | $30.95B | $35.00B | $62.98B | $77.55B | $64.19B | $59.13B | $52.19B | $60.34B | $58.94B | $64.53B | |
| Total Liabilities | $61.46B | $65.69B | $67.80B | $97.29B | $137.47B | $131.09B | $121.52B | $124.31B | $131.80B | $137.19B | $143.07B | |
| Stockholders' Equity | $4.64B | $5.10B | $-8.45B | $-8.17B | $13.08B | $15.41B | $17.25B | $10.36B | $3.33B | $-3.27B | $-6.66B | |
| Retained Earnings | $4.38B | $5.46B | $3.37B | $4.72B | $1.05B | $3.13B | $4.78B | $-1.00B | $-7.90B | $-15.49B | $-17.87B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $7.04B | $9.96B | $13.43B | $13.32B | $17.59B | $22.78B | $24.94B | $22.84B | $18.81B | $19.03B | $21.22B | |
| Capital Expenditure | $-479.0M | $-529.0M | $-638.0M | $-552.0M | $-798.0M | $-787.0M | $-695.0M | $-777.0M | $-974.0M | $-1.21B | $-1.24B | |
| Free Cash Flow | $6.56B | $9.43B | $12.79B | $12.77B | $16.79B | $21.99B | $24.25B | $22.06B | $17.83B | $17.82B | $19.98B | |
| Investing Cash Flow | $-6.07B | $-274.0M | $-1.01B | $596.0M | $-37.56B | $-2.34B | $-623.0M | $-2.01B | $-20.82B | $-6.64B | $-6.48B | |
| Financing Cash Flow | $-3.93B | $-5.51B | $-14.40B | $18.71B | $-11.50B | $-19.04B | $-24.80B | $-17.22B | $-5.21B | $-12.72B | $-10.55B | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $-6.03B | $-1.41B | $-12.01B | $-629.0M | $-978.0M | $-934.0M | $-1.49B | $-1.97B | $-1.71B | $-980.0M | $-1.51B | |
| Issuance of Debt | $11.63B | $23.0M | $9.26B | $31.48B | $3.00B | $1.00B | $2.00B | $0.00 | $21.97B | $9.29B | $11.70B | |
| Payments of Debt | $-6.03B | $-25.0M | $-6.04B | $-5.24B | $-5.68B | $-9.41B | $-14.43B | $-4.15B | $-14.62B | $-9.60B | $-9.07B | |
| Stock Based Comp. | $353.0M | $365.0M | $421.0M | $430.0M | $753.0M | $692.0M | $671.0M | $747.0M | $911.0M | $955.0M | $989.0M | |
| Net Change in Cash | $-3.30B | $4.20B | $-2.01B | $32.63B | $-31.48B | $1.30B | $-545.0M | $3.61B | $-7.29B | $-295.0M | $4.22B |
Dilution Tracker
Shares Outstanding
1774M
5-Year Share Growth
-0.2%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 1631.00 | 1603.00 | 1546.00 | 1484.00 | 1673.00 | 1777.00 | 1778.00 | 1773.00 | 1773.00 | 1773.00 | 1774.00 | |
| YoY Change % | — | -1.7% | -3.6% | -4.0% | 12.7% | 6.2% | 0.1% | -0.3% | 0.0% | 0.0% | 0.1% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $-6.03B | $-1.41B | $-12.01B | $-629.0M | $-978.0M | $-934.0M | $-1.49B | $-1.97B | $-1.71B | $-980.0M | $-1.51B | |
| Stock Based Comp. | $353.0M | $365.0M | $421.0M | $430.0M | $753.0M | $692.0M | $671.0M | $747.0M | $911.0M | $955.0M | $989.0M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 77.3% | 75.0% | 76.4% | 77.6% | 66.4% | 69.0% | 70.0% | 62.4% | 70.0% | 70.2% | 70.7% | |
| Operating Margin % | 36.4% | 33.8% | 19.5% | 39.0% | 24.8% | 31.9% | 32.4% | 24.9% | 21.1% | 32.9% | 33.2% | |
| Net Margin % | 23.2% | 18.8% | 17.4% | 23.7% | 10.1% | 20.5% | 20.4% | 9.0% | 7.6% | 6.9% | 5.8% | |
| EBITDA Margin % | 39.5% | 36.8% | 25.4% | 36.8% | 26.9% | 42.6% | 41.6% | 31.6% | 26.5% | 28.8% | 26.9% | |
| FCF Margin % | 25.6% | 33.4% | 39.0% | 38.4% | 36.7% | 39.1% | 41.8% | 40.6% | 31.7% | 29.1% | 31.8% | |
| ROE % | 138.7% | 109.1% | Negative Equity | Negative Equity | 188.3% | 81.0% | 72.5% | 35.2% | 62.5% | 15367.3% | Negative Equity | |
| ROA % | 10.0% | 7.8% | 8.7% | 10.6% | 3.9% | 7.8% | 8.3% | 3.6% | 3.2% | 3.1% | 2.7% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)122.21
Historical12.99 / 25.22 / 179.00
Industry Med.20.77
P/S7.00
Historical2.95 / 4.51 / 7.37
Industry Med.2.30
P/B—
Historical9.75 / 19.33 / 246.85
Industry Med.1.91
EV/EBITDA29.66
Historical10.36 / 16.78 / 37.66
Industry Med.12.99
EV/Revenue7.99
Historical3.88 / 5.71 / 8.38
Industry Med.2.45
P/FCF22.01
Historical7.56 / 12.44 / 23.17
Industry Med.20.81
Intrinsic Value Models
DCF (FCF Based)
$102.04
Median P/S Value
$159.53
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 17.25 | 29.31 | 25.19 | 16.77 | 39.39 | 20.99 | 24.38 | 56.97 | 74.35 | 96.41 | 122.21 | |
| PS Ratio | 3.98 | 5.49 | 4.35 | 3.95 | 3.91 | 4.28 | 4.95 | 5.06 | 5.59 | 6.62 | 7.00 | |
| PB Ratio | 21.51 | 30.21 | 0.00 | 0.00 | 14.46 | 15.54 | 16.57 | 26.41 | 94.32 | 0.00 | 0.00 | |
| EV/EBITDA | 12.86 | 17.49 | 20.29 | 12.90 | 21.65 | 12.80 | 14.06 | 18.65 | 25.17 | 26.45 | 29.66 | |
| EV/Revenue | 5.08 | 6.43 | 5.15 | 4.74 | 5.82 | 5.45 | 5.86 | 5.90 | 6.66 | 7.62 | 7.99 |
Analyst Estimates & Quality
Altman Z-Score
2.25
Grey Zone
Piotroski F-Score
5
Moderate
Beneish M-Score
-2.68
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $67,250M | $72,815M | $78,493M |
| Net Income | $25,201M | $28,776M | $32,054M |
| EPS | 8.22 | 10.66 | 12.88 |
| Book Value per Share | 0.54 | 5.28 | 11.53 |
| Operating Cash Flow per Share | 13.37 | 15.14 | 18.16 |
| Operating CF | $23,725.83M | $26,865.81M | $32,216.73M |
Dividends
Dividend/Share (TTM)
$6.65
Dividend Yield
2.72%
Yield 10Y Median
3.64%
Frequency
Quarterly
Next Payment
2026-08-14
Recent Payments
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-07-15 | 2026-08-14 | $1.73 | Cash Div. |
| 2026-04-15 | 2026-05-15 | $1.73 | Cash Div. |
| 2026-01-16 | 2026-02-17 | $1.73 | Cash Div. |
| 2025-10-15 | 2025-11-14 | $1.64 | Cash Div. |
| 2025-07-15 | 2025-08-15 | $1.64 | Cash Div. |
| 2025-04-15 | 2025-05-15 | $1.64 | Cash Div. |
| 2025-01-15 | 2025-02-14 | $1.64 | Cash Div. |
| 2024-10-15 | 2024-11-15 | $1.55 | Cash Div. |
| 2024-07-15 | 2024-08-15 | $1.55 | Cash Div. |
| 2024-04-12 | 2024-05-15 | $1.55 | Cash Div. |
| 2024-01-12 | 2024-02-15 | $1.55 | Cash Div. |
| 2023-10-12 | 2023-11-15 | $1.48 | Cash Div. |
| 2023-07-13 | 2023-08-15 | $1.48 | Cash Div. |
| 2023-04-13 | 2023-05-15 | $1.48 | Cash Div. |
| 2023-01-12 | 2023-02-15 | $1.48 | Cash Div. |
| 2022-10-13 | 2022-11-15 | $1.41 | Cash Div. |
| 2022-07-14 | 2022-08-15 | $1.41 | Cash Div. |
| 2022-04-13 | 2022-05-16 | $1.41 | Cash Div. |
| 2022-01-13 | 2022-02-15 | $1.41 | Cash Div. |
| 2021-10-14 | 2021-11-15 | $1.3 | Cash Div. |
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Skyrizi | $17.56B |
| Mavyret | $1.32B |
| Vyalev | $482.0M |
| Vraylar | $3.62B |
| Venclexta | $2.79B |
| Ubrelvy | $1.27B |
| Rinvoq | $8.30B |
| Qulipta | $1.04B |
| Ozurdex | $493.0M |
| Other Oncology | $33.0M |
| Other Neuroscience | $207.0M |
| Other Eye Care | $1.01B |
| Other Aesthetics | $1.26B |
| All other | $2.63B |
| Lumigan/Ganfort | $410.0M |
| Linzess | $907.0M |
| Juvederm Collection | $993.0M |
| Imbruvica | $2.87B |
| Humira | $4.54B |
| Epkinly | $271.0M |
| Elahere | $690.0M |
| Duodopa | $381.0M |
| Creon | $1.51B |
| Botox Therapeutic | $3.77B |
| Botox Cosmetic | $2.60B |
| Alphagan/Combigan | $197.0M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $46.60B |
| All other countries | $5.76B |
| Australia | $459.0M |
| Brazil | $478.0M |
| Canada | $1.22B |
| China | $1.01B |
| France | $806.0M |
| Germany | $1.74B |
| Italy | $580.0M |
| Japan | $1.27B |
| Spain | $609.0M |
| United Kingdom | $626.0M |