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AbbVie Inc., a research-based biopharmaceutical company, engages in the research and development, manufacturing, commercializing, and sale of medicines and therapies worldwide. The company offers Skyrizi to treat autoimmune diseases; Rinvoq to treat inflammatory diseases; Imbruvica for the treatment of adult patients with blood cancers; Venclexta to treat blood cancers; Elahere to treat various cancer; and Epkinly to treat lymphoma; and Emrelis for the treatment of lung cancer. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products; botox Cosmetic for the treatment of glabellar lines, crow's feet, forehead lines, and platysma bands; Juvederm Collection to treat volume loss in the temples, undereye, cheeks, chin, lips and lower face; Vraylar to treat schizophrenia, bipolar disorder, and depressive disorder; Duodopa to treat Parkinson's disease; Ubrelvy to treat migraine; Qulipta for episodic and chronic migraine; and Vyalev for the treatment of motor fluctuations, as well as Botox Therapeutic to treat chronic migraine, overactive bladder, spasticity, cervical dystonia, and other conditions. In addition, the company offers Ozurdex for visual impairment; Lumigan/Ganfort and Alphagan/Combigan for the reduction of elevated intraocular pressure in patients with open angle glaucoma or ocular hypertension; and other eye care products, including Refresh/Optive, Xen, Durysta, and Restasis. Further, it provides Mavyret to treat chronic hepatitis C virus genotype 1-6 infection; Creon, a pancreatic enzyme therapy; and Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $61.2B | $17.6B | $4.2B | $17.8B | -129.2% | 8.6% | -1.2% |
| 2024 | $56.3B | $14.9B | $4.3B | $17.8B | 128.7% | 3.7% | -12.0% |
| 2023 | $54.3B | $17.2B | $4.9B | $22.1B | 46.9% | -6.4% | -58.9% |
| 2022 | $58.1B | $24.2B | $11.8B | $24.2B | 68.6% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 58,054 | 54,318 | 56,334 | 61,160 |
| Operating Revenue | - | 58,054 | 54,318 | 56,334 | 61,160 |
| Cost Of Revenue | - | 17,414 | 20,415 | 16,904 | 18,204 |
| Gross Profit | - | 40,640 | 33,903 | 39,430 | 42,956 |
| Operating Expense | - | 21,826 | 20,368 | 27,536 | 22,865 |
| Research And Development | - | 6,510 | 7,675 | 12,791 | 9,096 |
| Selling General And Administration | - | 15,260 | 12,872 | 14,752 | 14,010 |
| Total Expenses | - | 39,240 | 40,783 | 44,440 | 41,069 |
| Operating Income | - | 18,814 | 13,535 | 11,894 | 20,091 |
| Total Operating Income As Reported | - | 18,117 | 12,757 | 9,137 | 15,075 |
| EBITDA | - | 24,174 | 17,172 | 14,910 | 17,629 |
| Normalized EBITDA | - | 25,019 | 18,096 | 17,688 | 22,703 |
| EBIT | - | 15,707 | 8,474 | 6,524 | 9,490 |
| Interest Income | - | 186 | 540 | 648 | 266 |
| Interest Expense | - | 2,230 | 2,224 | 2,808 | 2,893 |
| Net Interest Income | - | -2,044 | -1,684 | -2,160 | -2,627 |
| Other Non Operating Income Expenses | - | -2,448 | -4,677 | -3,240 | -5,793 |
| Other Income Expense | - | -3,293 | -5,601 | -6,018 | -10,867 |
| Interest Income Non Operating | - | 186 | 540 | 648 | 266 |
| Interest Expense Non Operating | - | 2,230 | 2,224 | 2,808 | 2,893 |
| Net Non Operating Interest Income Expense | - | -2,044 | -1,684 | -2,160 | -2,627 |
| Pretax Income | - | 13,477 | 6,250 | 3,716 | 6,597 |
| Tax Provision | - | 1,632 | 1,377 | -570 | 2,364 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -102.24 | -203.28 | -583.38 | -1,818.24 |
| Net Income Continuous Operations | - | 11,845 | 4,873 | 4,286 | 4,233 |
| Net Income From Continuing And Discontinued Operation | - | 11,836 | 4,863 | 4,278 | 4,226 |
| Net Income From Continuing Operation Net Minority Interest | - | 11,836 | 4,863 | 4,278 | 4,226 |
| Net Income | - | 11,836 | 4,863 | 4,278 | 4,226 |
| Net Income Common Stockholders | - | 11,782 | 4,820 | 4,238 | 4,186 |
| Net Income Including Noncontrolling Interests | - | 11,845 | 4,873 | 4,286 | 4,233 |
| Normalized Income | - | 12,578.76 | 5,583.72 | 6,472.62 | 7,481.76 |
| Diluted NI Availto Com Stockholders | - | 11,782 | 4,820 | 4,238 | 4,186 |
| Basic Average Shares | - | 1,769.18 | 1,765.94 | 1,765.26 | 1,769 |
| Diluted Average Shares | - | 1,778 | 1,773 | 1,773 | 1,773 |
| Reconciled Depreciation | - | 8,467 | 8,698 | 8,386 | 8,139 |
| Reconciled Cost Of Revenue | - | 17,414 | 20,415 | 16,904 | 18,204 |
| Total Unusual Items | - | -845 | -924 | -2,778 | -5,074 |
| Total Unusual Items Excluding Goodwill | - | -845 | -924 | -2,778 | -5,074 |
| Minority Interests | - | -9 | -10 | -8 | -7 |
| Special Income Charges | - | -697 | -778 | -2,757 | -5,016 |
| Other Special Charges | - | 697 | 778 | 2,757 | 5,016 |
| Gain On Sale Of Security | - | -148 | -146 | -21 | -58 |
| Other Operating Expenses | - | 56 | -179 | -7 | -241 |
| Otherunder Preferred Stock Dividend | - | 54 | 43 | 40 | 40 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| AbbVie Inc.this co. | ABBV | $397.4B | 94.94↑ premium | - | -128.0% | 26.07 |
| Johnson & Johnson | JNJ | $549.3B | 20.49 | 6.74 | 32.9% | 14.07 |
| UnitedHealth Group Incorporated | UNH | $360.1B | 29.86 | 3.83 | 12.8% | 17.96 |
| Merck & Co., Inc. | MRK | $297.0B | 16.27 | 5.65 | 34.7% | 11.74 |
| Amgen Inc. | AMGN | $186.5B | 24.19 |
| - |
| - |
| - |
| - |
| 21.54 |
| 89.1% |
| 13.73 |
| Thermo Fisher Scientific Inc. | TMO | $179.1B | 26.72 | 3.35 | 12.6% | 18.11 |
| Gilead Sciences, Inc. | GILD | $160.4B | 18.85 | 7.06 | 37.5% | 12.94 |
| Abbott Laboratories | ABT | $158.1B | 24.24 | 3.03 | 12.5% | 13.54 |
| Intuitive Surgical, Inc. | ISRG | $148.3B | 51.94 | 8.32 | 16.0% | 39.33 |
| Peer Median | - | 24.21 | 6.19 | 24.4% | 13.90 | |