AbbVie (ABBV) financial statements
AbbVie reported revenue of $61.2B in fiscal 2025, up 10.1% a year over 9 years.
Net income was $4.2B and the operating margin 24.6%, against 36.4% in 2016.
Free cash flow was $17.8B, and the company returned $11.7B in dividends and $980M in net buybacks.
The diluted share count rose 9% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from AbbVie's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.6B | $28.2B | $32.8B | $33.3B | $45.8B | $56.2B | $58.1B | $54.3B | $56.3B | $61.2B |
| Cost of revenue | $5.8B | $7.0B | $7.7B | $7.4B | $15.4B | $17.4B | $17.4B | $20.4B | $16.9B | $18.2B |
| Gross profit | $19.8B | $21.2B | $25.0B | $25.8B | $30.4B | $38.8B | $40.6B | $33.9B | $39.4B | $43.0B |
| Research and development | $4.4B | $5.0B | $10.3B | $6.4B | $6.4B | $6.9B | $6.5B | $7.7B | $12.8B | $9.1B |
| Selling, general and admin | $5.9B | $6.3B | $7.4B | $6.9B | $11.3B | $12.3B | $15.3B | $12.9B | $14.8B | $14.0B |
| Operating income | $9.3B | $9.5B | $6.4B | $13.0B | $11.4B | $17.9B | $18.1B | $12.8B | $9.1B | $15.1B |
| Interest expense | $1.0B | $1.1B | $1.3B | $1.8B | $2.5B | $2.4B | $2.2B | $2.2B | $2.8B | $2.9B |
| Pre-tax income | $7.9B | $7.7B | $5.2B | $8.4B | $3.4B | $13.0B | $13.5B | $6.2B | $3.7B | $6.6B |
| Income tax | $1.9B | $2.4B | -$490M | $544M | -$1.2B | $1.4B | $1.6B | $1.4B | -$570M | $2.4B |
| Net income | $6.0B | $5.3B | $5.7B | $7.9B | $4.6B | $11.5B | $11.8B | $4.9B | $4.3B | $4.2B |
| EPS (diluted) | $3.63 | $3.30 | $3.66 | $5.28 | $2.72 | $6.45 | $6.63 | $2.72 | $2.39 | $2.36 |
| Diluted shares | 1.63B | 1.60B | 1.55B | 1.48B | 1.67B | 1.78B | 1.78B | 1.77B | 1.77B | 1.77B |
| Gross margin | 77.3% | 75.0% | 76.4% | 77.6% | 66.4% | 69.0% | 70.0% | 62.4% | 70.0% | 70.2% |
| Operating margin | 36.4% | 33.8% | 19.5% | 39.0% | 24.8% | 31.9% | 31.2% | 23.5% | 16.2% | 24.6% |
| Net margin | 23.2% | 18.8% | 17.4% | 23.7% | 10.1% | 20.5% | 20.4% | 9.0% | 7.6% | 6.9% |
Balance sheet
Fiscal years, from AbbVie's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6.4B | $9.8B | $8.1B | $39.9B | $8.5B | $9.8B | $9.2B | $12.8B | $5.6B | $5.3B |
| Receivables | $4.8B | $5.1B | $5.4B | $5.4B | $8.8B | $10.0B | $11.3B | $11.2B | $10.9B | $12.6B |
| Inventory | $1.4B | $1.6B | $1.6B | $1.8B | $3.3B | $3.1B | $3.6B | $4.1B | $4.2B | $5.0B |
| Total current assets | $16.2B | $21.2B | $16.9B | $49.5B | $24.2B | $27.9B | $28.5B | $33.0B | $25.6B | $29.1B |
| Property, plant and equipment | $2.6B | $2.8B | $2.9B | $3.0B | $5.2B | $5.1B | $4.9B | $5.0B | $5.1B | $5.6B |
| Goodwill | $15.4B | $15.8B | $15.7B | $15.6B | $33.1B | $32.4B | $32.2B | $32.3B | $35.0B | $35.6B |
| Total assets | $66.1B | $70.8B | $59.4B | $89.1B | $150.6B | $146.5B | $138.8B | $134.7B | $135.2B | $134.0B |
| Total current liabilities | $9.8B | $16.6B | $17.2B | $15.6B | $28.7B | $35.2B | $29.5B | $37.8B | $38.7B | $43.3B |
| Long-term debt | $36.4B | $31.0B | $35.0B | $63.0B | $77.6B | $64.2B | $59.1B | $52.2B | $60.3B | $58.9B |
| Total liabilities | $61.5B | $65.7B | $67.8B | $97.3B | $137.5B | $131.1B | $121.5B | $124.3B | $131.8B | $137.2B |
| Shareholders' equity | $4.6B | $5.1B | -$8.4B | -$8.2B | $13.1B | $15.4B | $17.3B | $10.4B | $3.3B | -$3.3B |
| Net debt | $31.3B | $21.6B | $27.7B | $23.1B | $69.1B | $54.4B | $49.9B | $39.4B | $54.8B | $53.7B |
Cash flow
Fiscal years, from AbbVie's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.0B | $10.0B | $13.4B | $13.3B | $17.6B | $22.8B | $24.9B | $22.8B | $18.8B | $19.0B |
| Capital spending | $479M | $529M | $638M | $552M | $798M | $787M | $695M | $777M | $974M | $1.2B |
| Free cash flow | $6.6B | $9.4B | $12.8B | $12.8B | $16.8B | $22.0B | $24.2B | $22.1B | $17.8B | $17.8B |
| Stock-based compensation | $353M | $365M | $421M | $430M | $753M | $692M | $671M | $747M | $911M | $955M |
| Dividends paid | $3.7B | $4.1B | $5.6B | $6.4B | $7.7B | $9.3B | $10.0B | $10.5B | $11.0B | $11.7B |
| Share buybacks (net) | -$6.0B | -$1.4B | -$12.0B | -$629M | -$978M | -$934M | -$1.5B | -$2.0B | -$1.7B | -$980M |
| Net borrowing | $11.6B | $23M | $6.3B | $30.8B | $3.0B | $1.0B | $2.0B | $0 | $17.0B | $4.5B |
| Free cash flow margin | 25.6% | 33.4% | 39.0% | 38.4% | 36.7% | 39.1% | 41.8% | 40.6% | 31.7% | 29.1% |
| Dividends per share | $2.28 | $2.56 | $3.61 | $4.29 | $4.61 | $5.21 | $5.65 | $5.94 | $6.22 | $6.57 |
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Open ABBV in InvestinglyQuestions
What was AbbVie's revenue in 2025?
$61.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does AbbVie generate?
$17.8B in fiscal 2025 (operating cash flow minus capital spending).
From AbbVie's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.