AbbVie's migraine franchise secured a major win. The dividend king stock faces assessment as a potential buy following the development. Major success in migraine franchise strengthens AbbVie's product portfolio and revenue outlook.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | 1 | 2 | — | — | — | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 6.86 |
—
—
—
|
| 2025 | 6.56 |
—
—
—
—
|
| 2024 | 6.20 |
—
—
—
—
|
| 2023 | 5.92 |
—
—
—
—
|
| 2022 | 5.64 |
—
—
—
—
|
| 2021 | 5.20 |
—
—
—
—
|
| 2020 | 4.72 |
—
—
—
—
|
| 2019 | 4.28 |
—
—
—
—
|
| 2018 | 3.59 |
—
—
—
—
|
| 2017 | 2.56 |
—
—
—
—
|
| 2016 | 2.28 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 12,816.00 | 5,555.00 | 5,257.00 | 6,569.00 |
| Receivables | 11,155.00 | 10,919.00 | 12,589.00 | 13,824.00 |
| Inventory | 4,099.00 | 4,181.00 | 4,951.00 | 5,127.00 |
| Other | — | — | — | — |
| 33,002.00 | 25,582.00 | 29,062.00 | 33,669.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 30,650.00 | 31,945.00 | 34,734.00 | 33,301.00 |
| ST’ Debt | 7,191.00 | 6,804.00 | 8,555.00 | 8,341.00 |
| Other | — | — | — | — |
| 37,841.00 | 38,749.00 | 43,289.00 | 41,642.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 15,002.00 | 16,990.00 | — | — |
—
|
| ’25 | 13,343.00 | 15,423.00 | 15,776.00 | 16,618.00 |
61,160.00
|
| ’24 | 12,310.00 | 14,462.00 | 14,460.00 | 15,102.00 |
56,334.00
|
| ’23 | 12,225.00 | 13,865.00 | 13,927.00 | 14,301.00 |
54,318.00
|
| ’22 | 13,538.00 | 14,583.00 | 14,812.00 | 15,121.00 |
58,054.00
|
| ’21 | 13,010.00 | 13,959.00 | 14,342.00 | 14,886.00 |
56,197.00
|
| ’20 | 8,619.00 | 10,425.00 | 12,902.00 | 13,858.00 |
45,804.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,829.00 | 3,436.00 | — | — |
—
|
| ’25 | 1,635.00 | 5,153.00 | 7,024.00 | 5,218.00 |
19,030.00
|
| ’24 | 4,040.00 | 2,271.00 | 5,447.00 | 7,048.00 |
18,806.00
|
| ’23 | 4,193.00 | 6,319.00 | 7,574.00 | 4,753.00 |
22,839.00
|
| ’22 | 4,908.00 | 5,005.00 | 7,602.00 | 7,428.00 |
24,943.00
|
| ’21 | 4,877.00 | 4,890.00 | 7,935.00 | 5,075.00 |
22,777.00
|
| ’20 | 3,815.00 | 3,089.00 | 5,830.00 | 4,854.00 |
17,588.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,564.00 | 3,114.00 | — | — |
—
|
| ’25 | 1,400.00 | 4,884.00 | 6,643.00 | 4,889.00 |
17,816.00
|
| ’24 | 3,847.00 | 2,030.00 | 5,198.00 | 6,757.00 |
17,832.00
|
| ’23 | 4,018.00 | 6,141.00 | 7,355.00 | 4,548.00 |
22,062.00
|
| ’22 | 4,746.00 | 4,862.00 | 7,425.00 | 7,215.00 |
24,248.00
|
| ’21 | 4,689.00 | 4,695.00 | 7,718.00 | 4,888.00 |
21,990.00
|
| ’20 | 3,690.00 | 2,912.00 | 5,613.00 | 4,575.00 |
16,790.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.39 | 2.03 | — | — |
—
|
| ’25 | 0.72 | 0.52 | 0.10 | 1.02 |
2.36
|
| ’24 | 0.77 | 0.77 | 0.88 | (0.02) |
2.39
|
| ’23 | 0.13 | 1.14 | 1.00 | 0.46 |
2.72
|
| ’22 | 2.51 | 0.51 | 2.21 | 1.38 |
6.63
|
| ’21 | 1.99 | 0.42 | 1.78 | 2.26 |
6.45
|
| ’20 | 2.02 | (0.46) | 1.29 | 0.01 |
2.72
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 128.26 | 130.96 | 153.58 | 164.39 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 175.91 | 168.11 | 207.32 | 244.81 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50,000 | 50,000 | 55,000 | 57,000 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.16 | 1.09 | 1.02 | 1.07 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 58,054.00 | 54,318.00 | 56,334.00 | 61,160.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 70.00% | 62.42% | 69.99% | 70.24% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13,477.00 | 6,250.00 | 3,716.00 | 6,597.00 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.21% | 11.51% | 6.60% | 10.79% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11,845.00 | 4,873.00 | 4,286.00 | 4,233.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8,467.00 | 12,927.00 | 12,862.00 | 8,986.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.78 | 30.72 | 31.85 | 34.57 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 6.63 | 2.72 | 2.39 | 2.36 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.08 | 12.92 | 10.63 | 10.76 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.39) | (0.44) | (0.55) | (0.69) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.69 | 12.48 | 10.08 | 10.07 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.76 | 5.88 | 1.90 | (1.82) | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,771.00 | 1,768.00 | 1,769.00 | 1,769.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.57 | 58.54 | 74.04 | 96.82 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.95 | 5.20 | 5.58 | 6.61 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.64 | 27.18 | 93.45 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.88 | 6.06 | 6.67 | 7.63 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.09 | 14.92 | 21.08 | 26.18 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24,943.00 | 22,839.00 | 18,806.00 | 19,030.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (695.00) | (777.00) | (974.00) | (1,214.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24,248.00 | 22,062.00 | 17,832.00 | 17,816.00 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1,075.00) | (4,839.00) | (13,167.00) | (14,227.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 63,271.00 | 59,385.00 | 67,144.00 | 67,496.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 54,042.00 | 46,569.00 | 61,589.00 | 62,239.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17,287.00 | 10,397.00 | 3,364.00 | (3,228.00) | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.26% | 3.52% | 3.14% | 3.11% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.87% | 14.00% | 8.79% | 15.97% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 72.01% | 34.82% | 61.59% | 6,155.88% | ‡‡‡‡‡ | — | — |
ROE
|
AbbVie Inc. (ABBV) has shown remarkable resilience following the 2023 Humira patent cliff, which slashed revenues from a $20 billion peak, thanks to strategic moves like the $63 billion Allergan acquisition and the rapid ascent of immunology successors Skyrizi and Rinvoq. After a 6.4% revenue dip to $54.3 billion in 2023, sales rebounded 3.7% to $56.3 billion in 2024, with analysts projecting an 8% CAGR through 2027 to reach $72.3 billion, driven by these high-margin franchises offsetting legacy declines.
Profitability faced sharp volatility—EBT margins plunging from 23.2% in 2022 to 6.6% in 2023 before a projected surge to over 24% by 2026, with EPS forecasted to leap 311% from 2024 lows to $9.83. The balance sheet carries $67 billion in debt but boasts robust free cash flow ($17.8 billion in 2024) supporting dividends and buybacks, amid deleveraging efforts. Valuation appears balanced at elevated multiples, with analyst targets implying 8% mean upside, though bearish insider selling ($31.6 million, no buys) tempers enthusiasm.
Looking ahead, AbbVie’s pipeline and Botox stability promise inflection, echoing historical adaptations like the 2013 Abbott spin-off, but risks from biosimilars, debt servicing, and execution loom large. This transitional powerhouse offers defensive yield with growth potential, warranting a deeper dive into fundamentals and projections.
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