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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.

276.47 4.05 +1.49%
Market cap
$481.4B
P/E
78.1×
Fwd P/E
27.8×
Dividend yield
3.10%
F-score
8/9
Altman Z
2.31
Beneish M
−2.86
Dividend safety
44/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

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 481,400.00
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 78.10 (above 35: high)
Fwd P/E 27.80
P/S ratio 7.60
P/B ratio 0.00
Past 5Y EPS Growth (2.80%) (below 0%: weak)
This Y EPS Growth 40.08% (at or above 15%: strong)
Next Y EPS Growth 17.26% (at or above 15%: strong)
Next Y revenue growth 10.53% (at or above 10%: strong)
Next 5Y EPS Growth 21.29% (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 8.6×, against a ten-year median of 5.6×; over the ten years it ranged from 4.0× in 2019 to 8.6× in 2026.
P/E against its own 10 years 87.70%
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 2.42
Annual Dividend Rate 8.56
Annual Dividend Yield 3.10%
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%

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.

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 50.71 59.27 77.50 62.66 62.55 101.81 128.26 130.96 153.58 164.39

Analyst estimates 2026–2028

Powerpack
High 68.12 99.10 125.86 92.30 109.15 136.83 175.91 168.11 207.32 244.81
People
People Employees 30,000 29,000 30,000 30,000 47,000 50,000 50,000 50,000 55,000 57,000
Revenue/emp, $m 0.85 0.97 1.09 1.11 0.97 1.12 1.16 1.09 1.02 1.07
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
Gross margin, % 77.25 75.04 76.44 77.64 66.41 68.96 70.00 62.42 69.99 70.24
EBT 7,884 7,727 5,197 8,426 3,398 12,989 13,477 6,250 3,716 6,597
EBT margin, % 30.75 27.39 15.87 25.33 7.42 23.11 23.21 11.51 6.60 10.79
Net income 5,953 5,309 5,687 7,882 4,622 11,549 11,845 4,873 4,286 4,233
Depreciation 1,189 1,501 1,765 2,017 6,471 8,521 8,467 12,927 12,862 8,986
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
Earnings 3.63 3.30 3.66 5.28 2.72 6.45 6.63 2.72 2.39 2.36
Cash flow 4.34 6.24 8.71 9.00 10.55 12.87 14.08 12.92 10.63 10.76
Capex (0.30) (0.33) (0.41) (0.37) (0.48) (0.44) (0.39) (0.44) (0.55) (0.69)
Free cash flow 4.05 5.91 8.30 8.62 10.07 12.42 13.69 12.48 10.08 10.07
Book value 2.86 3.19 (5.48) (5.52) 7.86 8.72 9.76 5.88 1.90 (1.82)
Shares, m 1,622 1,596 1,541 1,481 1,667 1,770 1,771 1,768 1,769 1,769
Valuation, ×
Valuation, × P/E 17.19 29.91 25.75 16.77 37.47 20.99 24.57 58.54 74.04 96.82
P/S 3.95 5.57 4.34 3.94 3.90 4.26 4.95 5.20 5.58 6.61
P/B 21.84 30.81 0.00 0.00 13.64 15.53 16.64 27.18 93.45 0.00
EV/Sales 5.13 6.54 5.32 4.75 5.59 5.45 5.88 6.06 6.67 7.63
EV/FCF 20.06 19.58 13.63 12.37 15.26 13.94 14.09 14.92 21.08 26.18
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
Capex (479) (529) (638) (552) (798) (787) (695) (777) (974) (1,214)
Free cash flow 6,562 9,431 12,789 12,772 16,790 21,990 24,248 22,062 17,832 17,816
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)
Total debt 36,842 37,368 40,310 66,728 86,056 76,684 63,271 59,385 67,144 67,496
Net debt 30,419 27,579 32,249 26,804 77,577 66,854 54,042 46,569 61,589 62,239
Shareholders’ equity 4,636 5,097 (8,446) (8,172) 13,097 15,436 17,287 10,397 3,364 (3,228)
Returns, %
Returns, % ROA 9.99 7.76 8.74 10.62 3.85 7.77 8.26 3.52 3.14 3.11
ROIC 16.65 18.26 16.76 43.55 7.83 13.61 15.87 14.00 8.79 15.97
ROE 138.75 109.09 (339.62) (94.86) 187.45 80.90 72.01 34.82 61.59 6,155.88
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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 $1.10T 39.6× 33.1× +47.67% (above 0%: growing) +26.23% (above 0%: growing) +458.06% (above 0%: growing) 85.78% 39.08% Compare
JNJ Johnson & Johnson $618.1B 30.3× 24.9× +6.60% (above 0%: growing) −0.87% (below 0%: shrinking) +154.78% (above 0%: growing) 68.19% 28.63% Compare
ABBV AbbVie Inc. $481.4B 78.1× 27.8× +10.16% (above 0%: growing) +290.38% (above 0%: growing) −36.24% (below 0%: shrinking) 74.74% 37.86%
MRK Merck & Co., Inc. $351.3B 116× 53.9× +5.07% (above 0%: growing) n/m +77.03% (above 0%: growing) 73.54% (2.61%) Compare
NVS Novartis AG $262.0B 21.6× 20.6× +0.78% (above 0%: growing) −17.39% (below 0%: shrinking) −15.53% (below 0%: shrinking) 75.19% 31.77% Compare
AZN AstraZeneca PLC $246.3B 23.6× 23.4× +6.41% (above 0%: growing) +1.90% (above 0%: growing) −107.45% (below 0%: shrinking) 83.60% 20.57% Compare
AMGN Amgen Inc. $220.3B 25.6× 22.7× +9.53% (above 0%: growing) +65.41% (above 0%: growing) +82.57% (above 0%: growing) 72.04% 34.95% Compare
GILD Gilead Sciences, Inc. $182.4B — (loss-making) — (loss-making) +10.18% (above 0%: growing) n/m +376.81% (above 0%: growing) 79.76% (133.21%) Compare
PFE Pfizer Inc. $158.6B 37.2× 12.2× +2.60% (above 0%: growing) n/m +125.17% (above 0%: growing) 72.78% 20.38% Compare
Median of peers $254.1B 30.3× 23.4× +6.51% +1.90% +103.87% 74.37% 24.60%

All 21 Drug Manufacturers General stocks →

ABBV metrics, ten years each

AbbVie Inc. (ABBV) key facts

  • Concern: Net income was $4.2 billion, or $2.36 per share (basic), a net margin of 6.84%.
  • Strength: AbbVie Inc.’s revenue for fiscal 2025 (year ended December 2025) was $61.2 billion, up 8.57% from fiscal 2024.
  • AbbVie Inc. (ABBV) is a Drug Manufacturers General company in the Healthcare sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, ABBV traded at $276.47, a market capitalization of $481.4 billion.
  • At that price the stock trades at 78.1× trailing-twelve-month earnings and 7.6× sales; its P/E is higher than 88% of its own readings over the past ten years.
  • AbbVie Inc. pays an annual dividend of $8.56 per share, a yield of 3.10%.
  • Return on equity was 6,155.9% and debt-to-equity -12.03.
  • Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 2.31 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated

AbbVie reported $61.2 billion of revenue in FY2025 and $4.2 billion of net income in FY2025. In Q2 FY2026, revenue was $17.0 billion, operating income was $6.4 billion, and diluted EPS was $2.03. Trailing-twelve-month revenue to Q2 FY2026 was $64.4 billion.

The FY2025 balance sheet included $67.5 billion of total debt, $5.3 billion of cash and short-term investments, and −$3.2 billion of shareholders’ equity. Free cash flow was $17.8 billion in FY2025, while dividends paid were $11.7 billion in FY2025. As of September 24, 2026, the P/E was 74.9× and the P/S was 7.3×.

AbbVie Inc. (ABBV) Latest News

5 Oct

Impact 5 ·

13 Apr

Impact 5 ·
Impact 5 ·

24 Nov

Impact 5 ·
stockrow.com/ABBV · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com