Abbott Laboratories (ABT) financial statements
Abbott Laboratories reported revenue of $44.3B in fiscal 2025, up 8.7% a year over 9 years.
Net income was $6.5B and the operating margin 18.2%, against 14.5% in 2016.
Free cash flow was $7.4B, and the company returned $4.1B in dividends and $893M in net buybacks.
The diluted share count rose 18% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Abbott Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.9B | $27.4B | $30.6B | $31.9B | $34.6B | $43.1B | $43.7B | $40.1B | $42.0B | $44.3B |
| Cost of revenue | $9.1B | $12.4B | $12.7B | $13.2B | $15.0B | $18.5B | $19.1B | $18.0B | $18.7B | $19.3B |
| Gross profit | $11.8B | $15.0B | $17.9B | $18.7B | $19.6B | $24.5B | $24.5B | $22.1B | $23.2B | $25.0B |
| Research and development | $1.4B | $2.3B | $2.3B | $2.4B | $2.4B | $2.7B | $2.9B | $2.7B | $2.8B | $2.9B |
| Selling, general and admin | $6.7B | $9.2B | $9.7B | $9.8B | $9.7B | $11.3B | $11.2B | $10.9B | $11.7B | $12.3B |
| Operating income | $3.0B | $1.6B | $3.6B | $4.5B | $5.4B | $8.4B | $8.4B | $6.5B | $6.8B | $8.1B |
| Interest expense | $431M | $904M | $826M | $670M | $546M | $533M | $558M | $637M | $559M | $493M |
| Pre-tax income | $1.4B | $2.2B | $2.9B | $4.1B | $5.0B | $8.2B | $8.3B | $6.7B | $7.0B | $8.5B |
| Income tax | $350M | $1.9B | $539M | $390M | $497M | $1.1B | $1.4B | $941M | -$6.4B | $1.9B |
| Net income | $1.4B | $477M | $2.4B | $3.7B | $4.5B | $7.1B | $6.9B | $5.7B | $13.4B | $6.5B |
| EPS (diluted) | $0.94 | $0.27 | $1.33 | $2.06 | $2.50 | $3.94 | $3.91 | $3.26 | $7.64 | $3.72 |
| Diluted shares | 1.48B | 1.75B | 1.77B | 1.78B | 1.79B | 1.79B | 1.76B | 1.75B | 1.75B | 1.75B |
| Gross margin | 56.4% | 54.7% | 58.4% | 58.5% | 56.6% | 57.0% | 56.1% | 55.2% | 55.4% | 56.4% |
| Operating margin | 14.5% | 5.7% | 11.9% | 14.2% | 15.5% | 19.6% | 19.2% | 16.2% | 16.3% | 18.2% |
| Net margin | 6.7% | 1.7% | 7.7% | 11.6% | 13.0% | 16.4% | 15.9% | 14.3% | 31.9% | 14.7% |
Balance sheet
Fiscal years, from Abbott Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $18.8B | $9.6B | $4.1B | $4.1B | $7.1B | $10.2B | $10.2B | $7.3B | $8.0B | $8.9B |
| Receivables | $3.2B | $5.2B | $5.2B | $5.4B | $6.4B | $6.5B | $6.2B | $6.6B | $6.9B | $7.9B |
| Inventory | $2.4B | $3.6B | $3.8B | $4.3B | $5.0B | $5.2B | $6.2B | $6.6B | $6.2B | $6.5B |
| Total current assets | $26.8B | $20.1B | $14.6B | $15.7B | $20.4B | $24.2B | $25.2B | $22.7B | $23.7B | $26.0B |
| Property, plant and equipment | $5.7B | $7.6B | $7.6B | $8.0B | $9.0B | $9.0B | $9.2B | $10.2B | $10.7B | $11.8B |
| Goodwill | $7.7B | $24.0B | $23.3B | $23.2B | $23.7B | $23.2B | $22.8B | $23.7B | $23.1B | $24.0B |
| Total assets | $52.7B | $76.2B | $67.2B | $67.9B | $72.5B | $75.2B | $74.4B | $73.2B | $81.4B | $86.7B |
| Total current liabilities | $6.7B | $8.9B | $9.0B | $10.9B | $11.9B | $13.1B | $15.5B | $13.8B | $14.2B | $16.5B |
| Long-term debt | $20.7B | $27.2B | $19.4B | $16.7B | $18.5B | $17.3B | $14.5B | $13.6B | $12.6B | $9.9B |
| Total liabilities | $31.9B | $45.2B | $36.5B | $36.6B | $39.5B | $39.2B | $37.5B | $34.4B | $33.5B | $33.9B |
| Shareholders' equity | $20.5B | $30.9B | $30.5B | $31.1B | $32.8B | $35.8B | $36.7B | $38.6B | $47.7B | $52.1B |
| Net debt | $2.1B | $18.3B | $15.5B | $14.1B | $11.7B | $8.3B | $6.9B | $7.8B | $6.5B | $4.4B |
Cash flow
Fiscal years, from Abbott Laboratories's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.2B | $5.6B | $6.3B | $6.1B | $7.9B | $10.5B | $9.6B | $7.3B | $8.6B | $9.6B |
| Capital spending | $1.1B | $1.1B | $1.4B | $1.6B | $2.2B | $1.9B | $1.8B | $2.2B | $2.2B | $2.2B |
| Free cash flow | $2.1B | $4.4B | $4.9B | $4.5B | $5.7B | $8.6B | $7.8B | $5.1B | $6.4B | $7.4B |
| Stock-based compensation | $310M | $406M | $477M | $519M | $546M | $640M | $685M | $644M | $673M | $664M |
| Dividends paid | $1.5B | $1.8B | $2.0B | $2.3B | $2.6B | $3.2B | $3.3B | $3.6B | $3.8B | $4.1B |
| Share buybacks (net) | -$522M | -$117M | -$238M | -$718M | -$403M | -$2.3B | -$3.8B | -$1.2B | -$1.3B | -$893M |
| Net borrowing | $13.2B | -$2.9B | -$8.4B | -$1.6B | -$50M | -$248M | $47M | $21M | -$100M | -$115M |
| Free cash flow margin | 10.0% | 16.2% | 16.0% | 14.1% | 16.5% | 20.1% | 17.9% | 12.6% | 15.1% | 16.7% |
| Dividends per share | $1.04 | $1.06 | $1.12 | $1.27 | $1.43 | $1.79 | $1.88 | $2.03 | $2.19 | $2.35 |
Questions
What was Abbott Laboratories's revenue in 2025?
$44.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Abbott Laboratories generate?
$7.4B in fiscal 2025 (operating cash flow minus capital spending).
From Abbott Laboratories's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.