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AbbVie Inc.

ABBV Healthcare Drug Manufacturers General

AbbVie Inc.’s revenue for fiscal 2025 (year ended December 2025) was $61.2 billion, up 8.57% from fiscal 2024. In the quarter to June 2026, revenue grew 10.2%, EPS grew 290.4%, free cash flow fell 36.2% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

294.90 4.11 +1.41%
Market cap
$513.9B
P/E
83.3×
Fwd P/E
36.5×
Dividend yield
2.35%
F-score
8/9
Altman Z
2.31
Beneish M
−2.86
Dividend safety
44/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Insider Decisions trades per month

Total sells 18.92
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 1 2 — — — — 1 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 513,860.00
Revenue 64,386.00
Net Income 6,316.00
Free Cash Flow 18,210.00
Net Debt 64,253.00
Current Ratio 0.81 (below 1: weak)
Debt/Equity (12.03) (negative: negative equity)
P/E ratio 83.31 (above 35: high)
Fwd P/E 36.50 (above 35: high)
P/S ratio 8.10
P/B ratio 0.00
Past 5Y EPS Growth (2.80%) (below 0%: weak)
This Y EPS Growth 39.13% (at or above 15%: strong)
Next Y EPS Growth 17.14% (at or above 15%: strong)
Next Y revenue growth 10.59% (at or above 10%: strong)
Next 5Y EPS Growth 21.33% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.1×, against a ten-year median of 5.6×; over the ten years it ranged from 4.0× in 2019 to 9.1× in 2026.
P/E against its own 10 years 89.57%
10-year low 10-year high
P/S against its own 10 years 100.00%
10-year low 10-year high
EV/Sales against its own 10 years 100.00%
10-year low 10-year high
EV/FCF against its own 10 years 100.00%
10-year low 10-year high

Dividends

Payout Ratio 1.95
Annual Dividend Rate 6.92
Annual Dividend Yield 2.35%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 6.92
1.73
1.73
1.73
1.73
2025 6.56
1.64
1.64
1.64
1.64
2024 6.20
1.55
1.55
1.55
1.55
2023 5.92
1.48
1.48
1.48
1.48
2022 5.64
1.41
1.41
1.41
1.41
2021 5.20
1.30
1.30
1.30
1.30
2020 4.72
1.18
1.18
1.18
1.18
2019 4.28
1.07
1.07
1.07
1.07
2018 3.59
0.71
0.96
0.96
0.96
2017 2.56
0.64
0.64
0.64
0.64
2016 2.28
0.57
0.57
0.57
0.57
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 12,816 5,555 5,257 6,569
Receivables 11,155 10,919 12,589 13,824
Inventory 4,099 4,181 4,951 5,127
Other — — — —
33,002 25,582 29,062 33,669
2023 2024 2025 Q'26
Payables 30,650 31,945 34,734 33,301
ST’ Debt 7,191 6,804 8,555 8,341
Other — — — —
37,841 38,749 43,289 41,642

Compound Annual Growth %

10y 5y 3y
Sales 10.34% 5.95% 1.75%
Cash Flow 9.71% 1.59% (8.62%)
Earnings (2.04%) (1.94%) (29.17%)
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 3.64 Actual 3.65

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.77 1.86 Beat by 0.09
Q4 FY25 2.66 2.71 Beat by 0.05
Q1 FY26 2.62 2.65 Beat by 0.03
Q2 FY26 3.64 3.65 Beat by 0.01
Q3 FY26 3.77 — Reports 30 October 2026

EPS $

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
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 15,002 16,990 — — —
’25 13,343 15,423 15,776 16,618 61,160
’24 12,310 14,462 14,460 15,102 56,334
’23 12,225 13,865 13,927 14,301 54,318
’22 13,538 14,583 14,812 15,121 58,054
’21 13,010 13,959 14,342 14,886 56,197
’20 8,619 10,425 12,902 13,858 45,804
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3,829 3,436 — — —
’25 1,635 5,153 7,024 5,218 19,030
’24 4,040 2,271 5,447 7,048 18,806
’23 4,193 6,319 7,574 4,753 22,839
’22 4,908 5,005 7,602 7,428 24,943
’21 4,877 4,890 7,935 5,075 22,777
’20 3,815 3,089 5,830 4,854 17,588
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 3,564 3,114 — — —
’25 1,400 4,884 6,643 4,889 17,816
’24 3,847 2,030 5,198 6,757 17,832
’23 4,018 6,141 7,355 4,548 22,062
’22 4,746 4,862 7,425 7,215 24,248
’21 4,689 4,695 7,718 4,888 21,990
’20 3,690 2,912 5,613 4,575 16,790
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 50.71 59.27 77.50 62.66 62.55 101.81 128.26 130.96 153.58 164.39 +14.0% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 68.12 99.10 125.86 92.30 109.15 136.83 175.91 168.11 207.32 244.81 +15.3% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 30,000 29,000 30,000 30,000 47,000 50,000 50,000 50,000 55,000 57,000 +7.4% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.85 0.97 1.09 1.11 0.97 1.12 1.16 1.09 1.02 1.07 +2.6% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 25,638 28,216 32,753 33,266 45,804 56,197 58,054 54,318 56,334 61,160 +10.1% 67,634 73,592 79,270 +9.0%
Gross margin, % 77.25 75.04 76.44 77.64 66.41 68.96 70.00 62.42 69.99 70.24 (7.0) pt
EBT 7,884 7,727 5,197 8,426 3,398 12,989 13,477 6,250 3,716 6,597 (2.0%)
EBT margin, % 30.75 27.39 15.87 25.33 7.42 23.11 23.21 11.51 6.60 10.79 (20.0) pt
Net income 5,953 5,309 5,687 7,882 4,622 11,549 11,845 4,873 4,286 4,233 (3.7%)
Depreciation 1,189 1,501 1,765 2,017 6,471 8,521 8,467 12,927 12,862 8,986 +25.2%
Per share, $
Per share, $ Revenue 15.81 17.68 21.25 22.46 27.48 31.75 32.78 30.72 31.85 34.57 +9.1%
Earnings 3.63 3.30 3.66 5.28 2.72 6.45 6.63 2.72 2.39 2.36 (4.7%)
Cash flow 4.34 6.24 8.71 9.00 10.55 12.87 14.08 12.92 10.63 10.76 +10.6%
Capex (0.30) (0.33) (0.41) (0.37) (0.48) (0.44) (0.39) (0.44) (0.55) (0.69) +9.8%
Free cash flow 4.05 5.91 8.30 8.62 10.07 12.42 13.69 12.48 10.08 10.07 +10.7%
Book value 2.86 3.19 (5.48) (5.52) 7.86 8.72 9.76 5.88 1.90 (1.82) n/m
Shares, m 1,622 1,596 1,541 1,481 1,667 1,770 1,771 1,768 1,769 1,769 +1.0%
Valuation, ×
Valuation, × P/E 17.19 29.91 25.75 16.77 37.47 20.99 24.57 58.54 74.04 96.82 40.2
P/S 3.95 5.57 4.34 3.94 3.90 4.26 4.95 5.20 5.58 6.61 4.8
P/B 21.84 30.81 0.00 0.00 13.64 15.53 16.64 27.18 93.45 0.00 21.9
EV/Sales 5.13 6.54 5.32 4.75 5.59 5.45 5.88 6.06 6.67 7.63 5.9
EV/FCF 20.06 19.58 13.63 12.37 15.26 13.94 14.09 14.92 21.08 26.18 17.1
Cash, $m
Cash, $m Operating cash flow 7,041 9,960 13,427 13,324 17,588 22,777 24,943 22,839 18,806 19,030 +11.7%
Capex (479) (529) (638) (552) (798) (787) (695) (777) (974) (1,214) +10.9%
Free cash flow 6,562 9,431 12,789 12,772 16,790 21,990 24,248 22,062 17,832 17,816 +11.7%
Balance, $m
Balance, $m Working capital 6,406 4,582 (294) 33,934 (4,488) (7,266) (1,075) (4,839) (13,167) (14,227) n/m
Total debt 36,842 37,368 40,310 66,728 86,056 76,684 63,271 59,385 67,144 67,496 +7.0%
Net debt 30,419 27,579 32,249 26,804 77,577 66,854 54,042 46,569 61,589 62,239 +8.3%
Shareholders’ equity 4,636 5,097 (8,446) (8,172) 13,097 15,436 17,287 10,397 3,364 (3,228) n/m
Returns, %
Returns, % ROA 9.99 7.76 8.74 10.62 3.85 7.77 8.26 3.52 3.14 3.11 (6.9) pt
ROIC 16.65 18.26 16.76 43.55 7.83 13.61 15.87 14.00 8.79 15.97 (0.7) pt
ROE 138.75 109.09 (339.62) (94.86) 187.45 80.90 72.01 34.82 61.59 6,155.88 +6,017.1 pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
United States 46,603 76.20%
All other countries 5,759 9.42%
Germany 1,738 2.84%
Japan 1,274 2.08%
Canada 1,222 2.00%
China 1,006 1.64%
France 806 1.32%
United Kingdom 626 1.02%
Spain 609 1.00%
Italy 580 0.95%
Brazil 478 0.78%
Australia 459 0.75%
Gross margin 70.24%
Operating margin 24.65%
Pre-tax margin 10.79%

Revenue by segment since 2011

AbbVie Inc. vs peers in Drug Manufacturers General (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LLY Eli Lilly and Company $1.29T 47.5× 36.7× +47.67% (above 0%: growing) +26.23% (above 0%: growing) +458.06% (above 0%: growing) 85.78% 39.08% Compare
JNJ Johnson & Johnson $662.5B 31.7× 38.6× +5.86% (above 0%: growing) −0.87% (below 0%: shrinking) +154.78% (above 0%: growing) 68.12% 0.01% Compare
ABBV AbbVie Inc. $513.9B 83.3× 36.5× +10.16% (above 0%: growing) +290.38% (above 0%: growing) −36.24% (below 0%: shrinking) 74.74% 37.86%
MRK Merck & Co., Inc. $361.0B 120× 106× +5.07% (above 0%: growing) n/m +77.03% (above 0%: growing) 73.54% (2.61%) Compare
NVS Novartis AG $294.9B 24.1× 21.8× +0.78% (above 0%: growing) −17.39% (below 0%: shrinking) −15.53% (below 0%: shrinking) 75.19% 31.77% Compare
AZN AstraZeneca PLC $270.5B 27.6× 22.4× +6.41% (above 0%: growing) +1.90% (above 0%: growing) −107.45% (below 0%: shrinking) 83.60% 20.57% Compare
AMGN Amgen Inc. $249.1B 28.7× 27.9× +9.53% (above 0%: growing) +65.41% (above 0%: growing) +82.57% (above 0%: growing) 72.04% 34.95% Compare
GILD Gilead Sciences, Inc. $205.4B — (loss-making) — (loss-making) +10.18% (above 0%: growing) n/m +376.81% (above 0%: growing) 79.76% (133.21%) Compare
PFE Pfizer Inc. $170.7B 40.1× 18.6× +2.60% (above 0%: growing) n/m +125.17% (above 0%: growing) 72.78% 20.38% Compare
Median of peers $282.7B 31.7× 27.9× +6.14% +1.90% +103.87% 74.37% 20.48%

All 21 Drug Manufacturers General stocks →

Business profile

Updated

AbbVie is a research-based biopharmaceutical company that develops, manufactures and sells medicines and therapies around the world. It was founded in 2012, is headquartered in North Chicago and is led by Chief Executive Officer Robert A. Michael. Its business operates as a single global segment.

Its medicines span immunology, neuroscience, oncology and eye care. Immunology treatments include Skyrizi, Rinvoq and Humira, which are used for autoimmune and inflammatory conditions. Skyrizi is an injected biologic, while Rinvoq is an oral medicine. The approved uses and available products vary by market.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Barclays Oct 30, 2026 Target raised — 325.00
Morgan Stanley Oct 19, 2026 Target raised — 310.00
HSBC Oct 6, 2026 Target raised Buy 300.00 → 315.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 75.36%
Held by the ten largest 38.95%
Holder Shares Stake Change
Vanguard 182.90m 10.35% −386.32k
BlackRock 149.49m 8.46% −1.21m
State Street 82.60m 4.67% +1.38m
Capital Group 65.57m 3.71% +3.41m
JPMorgan Chase 47.86m 2.71% −8.88m
Geode Capital Management 47.00m 2.66% +260.85k
Morgan Stanley 38.90m 2.20% +884.23k
UBS 27.11m 1.53% −1.10m
Norges Bank 25.55m 1.45% +25.55m
Bank of America 21.24m 1.20% −2.70m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

AbbVie Inc. (ABBV) Latest News

30 Oct

Impact 4 · transcript
Impact 3 · transcript
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

29 Oct

Impact 4 ·
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Impact 3 ·
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28 Oct

Impact 4 ·
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27 Oct

Impact 4 ·
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Impact 3 ·
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26 Oct

Impact 4 ·
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Impact 3 ·
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24 Oct

Impact 4 ·

23 Oct

Impact 4 ·
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Impact 3 ·
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ABBV metrics, ten years each

stockrow.com/ABBV · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com