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Abbott Laboratories

ABT Healthcare Medical Devices

Abbott Laboratories' revenue for fiscal 2025 (year ended December 2025) was $44.3 billion, up 5.67% from fiscal 2024.

Revenue
+14.5%
EPS
−43.6%
Free cash flow
+28.9%
Total debt
+142.7%

Quarter to September 2026, against a year earlier

110.91 2.69 −2.37%
Market cap
$196.6B
P/E
42.3×
Fwd P/E
35.1×
Dividend yield
2.22%
F-score
5/9
Altman Z
5.61
Beneish M
−2.50
Dividend safety
62/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Medical Devices
  • Diagnostic Products
  • Nutritional Products
  • Established Pharmaceuticals

Every year since 2009 →

Insider Decisions last twelve months

Bought, $m 4.40
Sold, $m 47.34
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — 1 1 — 2 1 — — — — — —
Sell — — — 6 — — — — 2 1 — —
Insider Ownership 1.17%

Capital & Financial Ratios $m

Size
Market Cap 196,570.00
Revenue ttm 48,229.00
Net income ttm 5,425.00
Free cash flow ttm 7,824.00
Net debt Q 27,005.00
Valuation
P/E 42.32 (above 35: high)
Forward P/E 35.10 (above 35: high)
Price / sales 4.09
Forward P/S Powerpack
Price / FCF 25.23
Price / book 3.81
Financial health
Current ratio Q 1.38
Debt / equity Q 0.63
Interest coverage Q 4.57
Growth
Revenue growth Q +14.46% (above 0%: growing)
Operating income growth Q −33.98% (below 0%: shrinking)
EPS, this year +7.14%
EPS, next year A +7.56%
Revenue, next year A +12.71% (at or above 10%: strong)
EPS, past 5 yrs +8.27%
EPS, next 5 yrs A +8.08%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.7×, against a ten-year median of 4.8×; over the ten years it ranged from 2.8× in 2016 to 6.7× in 2021.
P/E against its own 10 years 60.80%
10-year low 10-year high
P/S against its own 10 years 36.12%
10-year low 10-year high
P/B against its own 10 years 31.79%
10-year low 10-year high
EV/Sales against its own 10 years 45.40%
10-year low 10-year high
EV/FCF against its own 10 years 36.27%
10-year low 10-year high

Dividends raised 2 years running

Yield
2.22%
Annual rate
2.52
Payout ratio
94.0%
Growth, 2018–26
+10.7%/yr
  1. 1.12 ’18
  2. 1.28 ’19 +14
  3. 1.44 ’20 +13
  4. 1.80 ’21 +25
  5. 1.88 ’22 +4
  6. 2.55 ’23 +36
  7. 2.20 ’24 −14
  8. 2.36 ’25 +7
  9. 2.52 ’26 +7
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 7,279 7,967 8,939 5,603
Receivables 6,565 6,925 7,929 8,599
Inventory 6,570 6,194 6,488 7,315
Other — — — —
22,670 23,656 25,996 24,517
2023 2024 2025 Q'26
Payables 4,295 4,195 4,240 4,794
ST’ Debt 1,080 1,500 3,033 3,005
Other — — — —
13,841 14,157 16,496 17,814

Compound Annual Growth %

10y 5y 3y
Sales 8.07% 5.08% 0.51%
Cash Flow 12.42% 3.90% (0.05%)
Earnings 3.96% 7.74% (2.01%)
Book Value 9.48% 9.84% 12.66%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.43 Actual 1.42

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.50 1.50 Met by 0.00
Q1 FY26 1.14 1.15 Beat by 0.01
Q2 FY26 1.28 1.31 Beat by 0.03
Q3 FY26 1.43 1.42 Miss by 0.01
Q4 FY26 1.64 — Reports 28 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.61 0.53 0.53 — —
’25 0.76 1.01 0.94 1.01 3.72
’24 0.70 0.74 0.94 5.27 7.64
’23 0.75 0.78 0.82 0.91 3.26
’22 1.37 1.14 0.81 0.59 3.91
’21 1.00 0.66 1.17 1.11 3.94
’20 0.31 0.30 0.69 1.20 2.50
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 11,164 12,593 13,013 — —
’25 10,358 11,142 11,369 11,459 44,328
’24 9,964 10,377 10,635 10,974 41,950
’23 9,747 9,978 10,143 10,241 40,109
’22 11,895 11,257 10,410 10,091 43,653
’21 10,456 10,223 10,928 11,468 43,075
’20 7,726 7,328 8,853 10,701 34,608
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,315 2,488 — — —
’25 1,417 2,047 2,787 3,315 9,566
’24 1,025 1,960 2,705 2,868 8,558
’23 1,143 1,203 1,877 3,038 7,261
’22 2,065 2,410 2,780 2,326 9,581
’21 2,637 2,128 2,701 3,067 10,533
’20 715 1,322 2,066 3,798 7,901
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 916 1,991 — — —
’25 933 1,545 2,291 2,626 7,395
’24 627 1,427 2,149 2,148 6,351
’23 763 696 1,317 2,283 5,059
’22 1,744 2,031 2,313 1,716 7,804
’21 2,240 1,715 2,240 2,453 8,648
’20 355 680 1,570 3,119 5,724
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 11.7% a year for ten years. It grew 15.7% a year over the last ten.

Implied
11.7%
10 years, reported
15.7%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
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 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 20,853 27,390 30,578 31,904 34,608 43,075 43,653 40,109 41,950 44,328 48,229 +8.7% 49,964 53,528 56,931 +8.7%
Gross margin, % 56.39 54.70 58.45 58.53 56.65 56.97 56.15 55.18 55.41 56.42 56.94 0.0 pt
EBT 1,413 2,231 2,873 4,077 4,968 8,211 8,306 6,664 7,013 8,466 6,562 +22.0%
EBT margin, % 6.78 8.15 9.40 12.78 14.36 19.06 19.03 16.61 16.72 19.10 13.61 +12.3 pt
Net income 1,400 477 2,368 3,687 4,495 7,071 6,933 5,723 13,402 6,524 5,425 +18.6%
Per share, $
Per share, $ Revenue 14.12 15.74 17.39 18.05 19.52 24.27 24.90 23.05 24.11 25.46 0.00 +6.8%
Earnings 0.94 0.27 1.33 2.06 2.50 3.94 3.91 3.26 7.64 3.72 2.68 +16.5%
Cash flow 2.17 3.20 3.58 3.47 4.46 5.93 5.47 4.17 4.92 5.49 5.69 +10.9%
Capex (0.76) (0.65) (0.79) (0.93) (1.23) (1.06) (1.01) (1.27) (1.27) (1.25) (1.20) +5.7%
Free cash flow 1.41 2.55 2.79 2.54 3.23 4.87 4.45 2.91 3.65 4.25 4.50 +13.0%
Book value 14.03 17.87 17.48 17.70 18.61 20.30 21.05 22.31 27.53 30.31 29.74 +8.9%
Shares, m 1,477 1,740 1,758 1,768 1,773 1,775 1,753 1,740 1,740 1,741 1,742 +1.8%
Valuation, ×
Valuation, × P/E 41.99 226.12 54.38 42.17 43.80 35.72 28.03 33.70 14.79 33.68 42.32 55.4
P/S 2.77 3.73 4.16 4.81 5.61 5.80 4.40 4.77 4.69 4.92 4.09 4.6
P/B 2.78 3.29 4.14 4.91 5.88 6.93 5.21 4.92 4.11 4.13 3.81 4.6
EV/Sales 2.86 4.40 4.66 5.25 5.94 5.98 4.55 4.95 4.84 5.01 4.65 4.8
EV/FCF 28.62 27.15 29.03 37.21 35.90 29.79 25.46 39.24 31.96 30.04 28.68 31.4
Cash, $m
Cash, $m Operating cash flow 3,203 5,570 6,300 6,136 7,901 10,533 9,581 7,261 8,558 9,566 9,905 +12.9%
Capex (1,121) (1,135) (1,394) (1,638) (2,177) (1,885) (1,777) (2,202) (2,207) (2,171) (2,081) +7.6%
Free cash flow 2,082 4,435 4,906 4,498 5,724 8,648 7,804 5,059 6,351 7,395 7,824 +15.1%
Balance, $m
Balance, $m Working capital 20,116 11,235 5,620 4,804 8,534 11,134 9,735 8,829 9,499 9,500 6,703 (8.0%)
Net debt 1,909 18,108 15,280 13,798 11,386 7,801 6,603 7,400 6,158 3,990 27,005 +8.5%
Shareholders’ equity 20,717 31,098 30,722 31,301 33,003 36,024 36,905 38,827 47,901 52,771 51,762 +10.9%
Returns, %
Returns, % ROA 2.98 0.74 3.30 5.46 6.40 9.57 9.27 7.75 17.33 7.76 0.00 +4.8 pt
ROIC 8.36 1.99 4.96 6.28 7.54 12.02 12.01 8.76 7.89 8.87 0.00 +0.5 pt
ROE 6.66 1.84 7.66 11.89 13.98 20.49 19.01 15.11 30.91 12.96 0.00 +6.3 pt
People
People Employees 75,000 99,000 103,000 107,000 109,000 113,000 115,000 114,000 114,000 115,000 — +4.9%
Revenue/emp, $m 0.28 0.28 0.30 0.30 0.32 0.38 0.38 0.35 0.37 0.39 — +3.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Abbott Laboratories is a healthcare-products company headquartered in North Chicago and led by Chief Executive Officer Robert Ford. It discovers, develops, manufactures and sells products across four businesses: Medical Devices, Diagnostic Products, Nutritional Products and Established Pharmaceutical Products.

Medical Devices covers heart-rhythm, electrophysiology, heart-failure, vascular and structural-heart devices; continuous glucose monitoring and blood-glucose products; and devices for chronic pain and movement disorders. Its diagnostic business supplies laboratory instruments, tests and automation, including systems used in hospitals, blood banks, commercial laboratories, clinics, physicians’ offices and other care settings. Its nutrition business sells infant formula, pediatric nutrition, adult nutrition and hospital enteral-feeding products. Its established pharmaceuticals business sells branded generic medicines outside the United States, particularly in emerging markets.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Medical Devices 21,387 48.25%
Diagnostic Products 8,937 20.16%
Nutritional Products 8,451 19.06%
Established Pharmaceuticals 5,536 12.49%
Gross margin 56.42%
Operating margin 18.17%
Pre-tax margin 19.10%

Revenue by segment since 2009

Abbott Laboratories vs peers in Medical Devices (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
ABT Abbott Laboratories $196.6B 42.3× 35.1× +14.46% (above 0%: growing) −43.62% (below 0%: shrinking) +28.87% (above 0%: growing) 56.75% 10.44%
MDT Medtronic PLC $134.1B 25.6× 20.8× +13.73% (above 0%: growing) +41.98% (above 0%: growing) +120.89% (above 0%: growing) 64.99% 18.08% Compare
SYK Stryker Corporation $127.6B 35.3× 24.6× +7.64% (above 0%: growing) −12.44% (below 0%: shrinking) −19.37% (below 0%: shrinking) 65.15% 15.86% Compare
BSX Boston Scientific Corporation $64.7B 18.7× 17.0× +1.44% (above 0%: growing) −21.57% (below 0%: shrinking) −25.30% (below 0%: shrinking) 66.72% 16.12% Compare
EW Edwards Lifesciences Corporation $58.1B 56.7× 36.5× +10.46% (above 0%: growing) +6.00% (above 0%: growing) −1.84% (below 0%: shrinking) 78.48% 17.44% Compare
GEHC GE HealthCare Technologies Inc. $37.9B 17.5× 15.5× +7.19% (above 0%: growing) +40.64% (above 0%: growing) +64.18% (above 0%: growing) 40.34% 14.58% Compare
DXCM DexCom, Inc. $31.5B 32.6× 31.8× +11.18% (above 0%: growing) 0.00% −52.93% (below 0%: shrinking) 64.29% 24.34% Compare
PHG Koninklijke Philips N.V. $29.8B 25.8× 11.2× +0.55% (above 0%: growing) −85.00% (below 0%: shrinking) +154.15% (above 0%: growing) 46.44% 3.76% Compare
STE STERIS plc $24.8B 30.0× 25.1× +8.79% (above 0%: growing) +12.82% (above 0%: growing) +43.64% (above 0%: growing) 44.74% 18.53% Compare
Median of peers $48.0B 27.9× 22.7× +8.22% +3.00% +20.90% 64.64% 16.78%

All 149 Medical Devices stocks →

From the latest earnings call

Updated

  • CEO Robert Ford said Abbott plans to separate its nutrition business, arguing that it could adapt and invest more effectively as an independent company.
  • Ford said medical-device growth was led by electrophysiology and rhythm management, while CFO Phil Boudreau discussed the planned separation’s financing and dividend arrangements.

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

Firm Date Action Rating Target
TD Cowen Oct 21, 2026 Reiterated Buy 135.00
Barclays Oct 19, 2026 Reiterated Outperform —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 79.00%
Held by the ten largest 39.04%
Holder Shares Stake Change
Vanguard 181.55m 10.42% +2.36m
BlackRock 152.56m 8.76% +6.88m
State Street 80.93m 4.65% +1.35m
Capital Group 72.87m 4.18% −15.95m
Charles Schwab 59.70m 3.43% +14.17m
Geode Capital Management 39.22m 2.25% +70.54k
Morgan Stanley 26.61m 1.53% −3.49m
Norges Bank 23.35m 1.34% +23.35m
T. Rowe Price 23.06m 1.32% +3.02m
UBS 20.19m 1.16% −5.16m
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.

Pay and ownership Proxy statement filed 13 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 24.20m 26.83m 125.00
2024 22.78m 24.77m 142.00
2023 23.27m 20.49m 136.00
2022 21.72m 8.01m 133.00
2021 24.91m 43.34m 167.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Abbott Laboratories (ABT) Latest News

29 Oct

Impact 4 · · 24/7 Wall St.
Impact 4 · · PR Newswire
Impact 3 · · Trefis

28 Oct

Impact 4 · · Simply Wall St.

27 Oct

Impact 3 · · Zacks
Impact 3 · · 24/7 Wall St.

26 Oct

Impact 4 · · The Motley Fool
Impact 4 · · PR Newswire

24 Oct

Impact 3 · · Simply Wall St.

23 Oct

Impact 4 · · TIKR
Impact 4 · · PR Newswire
Impact 3 · · Trefis

22 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · MT Newswires
Impact 4 · · Zacks
Impact 4 · · just-drinks.com
Impact 4 · · just-food.com
Impact 3 · · GlobeNewswire

21 Oct

Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · Moby
Impact 4 · · medtechdive.com
Impact 4 · · MT Newswires
Impact 4 · · chicagotribune.com
Impact 4 · · InvestorsHub
Impact 4 · · TIKR
Impact 3 · · Benzinga
Impact 3 · · Zacks
Impact 3 · · Insider Monkey

ABT metrics, ten years each

stockrow.com/ABT · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com