AbbVie Inc. (ABBV) financials
NYSE · Healthcare · Drug Manufacturers - General · 57,000 employees · CEO Robert A. Michael
- Price
- $294.89 +1.41%
- Market cap
- $521B
- Enterprise value
- $585B
- Last report
- Q3 '26 filed 2026-09-30
- Next report
- 2027-02-03 EPS est. $3.90
Revenue (TTM)$66B+10.7% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)35.5%+20.4 pp vs a year agoOperating income $23.5B
Net income (TTM)$10.4B+333.4% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)–– vs a year agoCapex –
Diluted EPS (TTM)$5.83+338.0% vs a year agoSum of the last 4 quarters
Net cash-$64.3B-0.4% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $521B EV $585B
- Revenue
- $66B Trailing 12 months
- Revenue growth
- +11% FY2026 consensus
- Profit margin
- 15.7% Net income / revenue, TTM
- P/E
- 50.6× Forward 21.2× (FY2026)
- P/S
- 7.9× Price / sales, TTM
- EV / EBITDA
- 24.2× TTM
- Free cash flow
- – Trailing 12 months
- Net income
- $10.4B Trailing 12 months
- Revenue estimate
- $67.6B FY2026 consensus
- Earnings
- 2027-02-03 Revenue est. $18.3B
- Dividend
- $6.92 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-30): revenue beat by 0.5%, EPS beat by 2.4%Revenue $17.4B vs $17.3B expected (+0.5%); EPS $3.82 vs $3.73 (+2.4%).
- Revenue growth steady: 10.3% year on yearQ3 '26 revenue $17.4B, against an average of 10.4% over the four quarters before.
- Operating margin 35.5% (TTM), +20.4 pp on a year agoOperating income grew 159.5% while revenue grew 10.7%.
- 83.1% of pre-tax profit is eaten by non-operating lossesPre-tax income $12.8B vs operating income $23.5B (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Diluted share count up 0.0% in a year1.77B diluted shares in Q3 '26, 1.77B a year earlier.
- Net debt $64.3BCash + short-term investments $6.57B, debt incl. leases $70.8B; a year ago net debt $64B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $17.4B | $15.8B | +10.3% |
| Gross margin | 85.0% | 66.4% | +18.6 pp |
| Operating income | $6.48B | $1.9B | +240.5% |
| Operating margin | 37.3% | 12.1% | +25.2 pp |
| Net income | $4.22B | $186M | +2,169.9% |
| Diluted EPS | $2.38 | $0.10 | +2,296.8% |
| Operating cash flow | – | $7.02B | – |
| Capex | – | $381M | – |
| Free cash flow | – | $6.64B | – |
| R&D | $2.57B | $2.32B | +10.7% |
| Stock-based compensation | – | $209M | – |
Reported vs consensus
2026-10-30| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $17.4B | $17.3B | +0.5% |
| EPS (as estimated) | $3.82 | $3.73 | +2.4% |
From the report of 2026-10-30 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| SKYRIZI | $5.51B | +24.5% | 34.3% | $19.7B | +32.8% | |
| H U M I R A | $756M | -35.9% | 4.7% | $3.68B | -40.7% | |
| RINVOQ | $2.53B | +24.5% | 15.7% | $9.2B | +27.9% | |
| Other Products | $1.11B | +83.9% | 6.9% | $3.41B | +20.6% | |
| Vraylar | $1.07B | +19.0% | 6.7% | $3.93B | +13.5% | |
| Botox Therapeutic | $1.04B | +12.3% | 6.5% | $4.03B | +14.5% | |
| Imbruvica | $532M | -29.4% | 3.3% | $2.47B | -22.2% | |
| VENCLEXTA | $771M | +11.6% | 4.8% | $2.98B | +10.8% | |
| Botox Cosmetic | $728M | +5.2% | 4.5% | $2.75B | +5.5% | |
| Ubrelvy | $392M | +16.0% | 2.4% | $1.42B | +23.8% | |
| MAVYRET | $295M | -21.3% | 1.8% | $1.28B | +0.6% | |
| Qulipta | $350M | +31.1% | 2.2% | $1.22B | +46.0% | |
| Juvederm Collection | $245M | -5.8% | 1.5% | $979M | -4.8% | |
| Other Aesthetics | $309M | -5.5% | 1.9% | $1.22B | -5.1% | |
| Linzess/Constella | $295M | +14.3% | 1.8% | $1.08B | +23.6% | |
| Other Eye Care | – | – | – | – | – | |
| Ozurdex | – | – | – | – | – | |
| Other Neuroscience | $117M | +112.7% | 0.7% | $335M | +12.4% | |
| Lumigan/Ganfort | – | – | – | – | – | |
| Duodopa | – | – | – | – | – | |
| Alphagan/Combigan | – | – | – | – | – |
Revenue by region
share of total| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| United States | $4.77B | +24.0% | 86.2% | $47.9B | +59.3% | |
| Non-US | $760M | +31.0% | 13.8% | $2.1B | -87.8% |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Free cash flow
- –
- Returned to shareholders / FCF
- –
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 50.6× | 54.5× | 20.9× – 96.4× |
| EV / EBITDA | 24.2× | 19.5× | 12.8× – 26.6× |
| EV / Sales | 8.9× | 6.3× | 5.5× – 7.7× |
| Price / FCF | 28.6× | 15.1× | 10.9× – 22.8× |
| Price / Book | -88.0× | 38.3× 4 of 5 years | 15.6× – 94.5× |
| FCF yield | 3.5% | 7.2% | 4.4% – 9.2% |
| Return on invested capital | 18.6% | 11.6% | 8.9% – 14.0% |
| Return on equity | -223.7% | 38.0% | -129.2% – 128.7% |
Analysts
Consensus target $294.00 (-0.3%)
range $235.00 – $325.00 · rating Buy
Strong buy0
Buy31
Hold12
Sell1
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $67.6B | +10.5% | $13.94 | +488.2% | 21.2× | 12 |
| FY2027 | $73.6B | +8.8% | $16.26 | +16.6% | 18.1× | 15 |
| FY2028 | $79.3B | +7.7% | $17.99 | +10.7% | 16.4× | 8 |
| FY2029 | $83.8B | +5.7% | $19.72 | +9.6% | 15.0× | 5 |
| FY2030 | $85.7B | +2.3% | $20.98 | +6.4% | 14.1× | 5 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 270 figures AbbVie Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $33.3B | $32.2B | +3.3% | $34.7B | $31.9B | +8.7% |
| Accounts Payable, Current | $3.59B2025-12-31 | $2.95B | +22.0% | $3.59B | $2.95B | +22.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $13.8B | $12.6B | +9.4% | $12.6B | $10.9B | +15.3% |
| Accrued Income Taxes, Noncurrent | $364M2025-12-31 | $1.26B | -71.1% | $364M | $1.26B | -71.1% |
| Accrued Royalties, Current | $453M2025-12-31 | $527M | -14.0% | $453M | $527M | -14.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $8.16B | $7.65B | +6.6% | $7.9B | $7.13B | +10.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.16B | -$1.54B | +24.7% | -$1.14B | -$1.93B | +40.6% |
| Additional Paid in Capital, Common Stock | $23.2B | $22B | +5.3% | $22.5B | $21.3B | +5.4% |
| Advertising Expense | – | – | – | $2.1B | $2.1B | 0.0% |
| Amortization of Intangible Assets | $1.7B | $1.9B | -10.5% | $7.38B | $7.62B | -3.2% |
| Assets | $135B | $137B | -1.5% | $134B | $135B | -0.9% |
| Assets, Current | $33.7B | $29.3B | +15.1% | $29.1B | $25.6B | +13.6% |
| Business Acquisition, Pro Forma Net Income (Loss) | – | – | – | $4.56B2024-12-31 | $2.86B | +59.5% |
| Business Acquisition, Pro Forma Revenue | – | – | – | $56.4B2024-12-31 | $54.7B | +3.1% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $1.52B | $2.8B | -45.7% | $6.5B | $3.77B | +72.2% |
| Business Combination, Contingent Consideration, Liability, Current | $3.46B2025-12-31 | $2.59B | +33.4% | $3.46B | $2.59B | +33.4% |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $21.9B2025-12-31 | $19.1B | +14.9% | $21.9B | $19.1B | +14.9% |
| Cash and Cash Equivalents, at Carrying Value | $6.57B | $6.47B | +1.6% | $5.23B | $5.52B | -5.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $6.57B | $6.47B | +1.6% | $5.23B | $5.52B | -5.3% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$2.82B | $1.29B | -318.4% | -$295M | -$7.29B | +96.0% |
| Common Stock, Dividends, Per Share, Declared | $1.73 | $1.64 | +5.5% | $6.65 | $6.29 | +5.7% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 4B | 4B | 0.0% | 4B | 4B | 0.0% |
| Common Stock, Shares, Issued | 1.84B | 1.84B | +0.4% | 1.84B | 1.83B | +0.4% |
| Common Stock, Value, Outstanding | $18M | $18M | 0.0% | $18M | $18M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $3M | $3M | 0.0% | $7M | $8M | -12.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.61B | $1.14B | +215.9% | $5.01B | $4.66B | +7.5% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $3.61B | $1.15B | +215.4% | $5.01B | $4.67B | +7.5% |
| Cost of Goods and Services Sold | $4.29B | $4.35B | -1.3% | $18.2B | $16.9B | +7.7% |
| Costs and Expenses | $10.6B | $10.5B | +0.3% | $46.1B | $47.2B | -2.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1.23B | -$331M | +471.6% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.63B | $1.21B | +34.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.86B | $879M | +224.9% |
| Debt and Lease Obligation | $65B2025-12-31 | $67.1B | -3.2% | $65B | $67.1B | -3.2% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$61M | -$1.3B | +95.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$431M | -$146M | -195.2% |
| Deferred Income Tax Expense (Benefit) | -$195M | -$272M | +28.3% | -$492M | -$1.45B | +66.0% |
| Deferred Income Tax Liabilities, Net | $2.28B | $2.55B | -10.8% | $2.39B | $2.58B | -7.4% |
| Deferred Tax Assets, Gross | $21.2B2025-12-31 | $20.9B | +1.7% | $21.2B | $20.9B | +1.7% |
| Deferred Tax Assets, Net of Valuation Allowance | $6.2B2025-12-31 | $6.04B | +2.7% | $6.2B | $6.04B | +2.7% |
| Deferred Tax Assets, Other | $2.5B2025-12-31 | $2.22B | +12.7% | $2.5B | $2.22B | +12.7% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $74M2025-12-31 | $215M | -65.6% | $74M | $215M | -65.6% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals | $1.13B2025-12-31 | $1.25B | -9.6% | $1.13B | $1.25B | -9.6% |
| Deferred Tax Assets, Valuation Allowance | $15B2025-12-31 | $14.8B | +1.3% | $15B | $14.8B | +1.3% |
| Deferred Tax Liabilities, Gross | $2.48B2025-12-31 | $2.99B | -17.0% | $2.48B | $2.99B | -17.0% |
| Deferred Tax Liabilities, Intangible Assets | $1.53B2025-12-31 | $1.97B | -22.3% | $1.53B | $1.97B | -22.3% |
| Deferred Tax Liabilities, Investments | $322M2025-12-31 | $302M | +6.6% | $322M | $302M | +6.6% |
| Deferred Tax Liabilities, Other | $630M2025-12-31 | $718M | -12.3% | $630M | $718M | -12.3% |
| Defined Benefit Plan, Accumulated Benefit Obligation | $8.7B2025-12-31 | $8.1B | +7.4% | $8.7B | $8.1B | +7.4% |
| Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation | $749M2025-12-31 | $775M | -3.4% | $749M | $775M | -3.4% |
| Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets | $99M2025-12-31 | $265M | -62.6% | $99M | $265M | -62.6% |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation | $647M2025-12-31 | $527M | +22.8% | $647M | $527M | +22.8% |
| Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets | $99M2025-12-31 | $94M | +5.3% | $99M | $94M | +5.3% |
| Depreciation | $194M | $186M | +4.3% | $762M | $764M | -0.3% |
| Derivative Asset, Fair Value, Gross Asset | $279M | $101M | +176.2% | $91M | $313M | -70.9% |
| Derivative Liability, Fair Value, Gross Liability | $284M | $880M | -67.7% | $540M | $266M | +103.0% |
| Dividends Payable, Current | $3.1B2025-12-31 | $2.94B | +5.6% | $3.1B | $2.94B | +5.6% |
| Dividends, Common Stock, Cash | $3.07B | $2.91B | +5.5% | $11.8B | $11.2B | +5.7% |
| Earnings Per Share, Basic | $2.04 | $0.52 | +292.3% | $2.37 | $2.40 | -1.2% |
| Earnings Per Share, Diluted | $2.03 | $0.52 | +290.4% | $2.36 | $2.39 | -1.3% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01