AbbVie Inc.

Listed Company

ABBVCIK 0001551152NYSELarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$61.16B

Net Income

$4.23B

Total Assets

$133.96B

Equity

$-3.27B

Shares Out

1.77B

Op. Cash Flow

$19.03B

Business

AbbVie Inc. is a global, research-based biopharmaceutical company that discovers, develops, manufactures and commercializes innovative medicines and therapies. The company offers a broad portfolio of prescription biologics, small molecules, medical devices and aesthetic products addressing immunology, oncology, neuroscience, eye care, aesthetics and other therapeutic areas. AbbVie operates as a single global business segment with integrated research and development, supply chain and commercial organizations, and coordinates marketing and sales by geographic region or therapeutic area. Its products are sold worldwide through wholesalers, distributors, health care providers, specialty pharmacies and direct-to-consumer channels.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenues	61,160	56,334	54,318	58,054	56,197
Cost of products sold	18,204	16,904	20,415	17,414	17,446
Selling, general and administrative	14,010	14,752	12,872	15,260	12,349
Research and development	9,096	12,791	7,675	6,510	6,922
Acquired IPR&D and milestones	5,016	2,757	778	697	1,100
Other operating income	−241	−7	−179	56	432
Total operating costs and expenses	46,085	47,197	41,561	39,937	38,273
Operating earnings	15,075	9,137	12,757	18,117	17,924
Interest expense, net	2,627	2,160	1,684	2,044	2,384
Net foreign exchange loss	58	21	146	148	51
Other expense, net	5,793	3,240	4,677	2,448	2,500
Earnings before income tax expense	6,597	3,716	6,250	13,477	12,989
Income tax expense (benefit)	2,364	−570	1,377	1,632	1,440
Net earnings	4,233	4,286	4,873	11,845	11,549
Net earnings attributable to noncontrolling interest	7	8	10	9	7
Net earnings attributable to AbbVie Inc.	4,226	4,278	4,863	11,836	11,542
Basic earnings per share (in dollars per share)	2.37	2.4	2.73	6.65	6.48
Diluted earnings per share (in dollars per share)	2.36	2.39	2.72	6.63	6.45
Weighted-average basic shares outstanding (in shares)	1,769	1,769	1,768	1,771	1,770
Weighted-average diluted shares outstanding (in shares)	1,773	1,773	1,773	1,778	1,777

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and equivalents	5,229	5,524	12,814	9,201	9,746
Short-term investments	28	31	2	28	84
Accounts receivable, net	12,589	10,919	11,155	11,254	9,977
Inventories	4,951	4,181	4,099	3,579	3,128
Prepaid expenses and other	6,265	4,927	4,932	4,401	4,993
Total current assets	29,062	25,582	33,002	28,463	27,928
Investments	268	279	304	241	277
Property and equipment, net	5,628	5,134	4,989	4,935	5,110
Intangible assets, net	52,641	60,068	55,610	67,439	75,951
Goodwill	35,640	34,956	32,293	32,156	32,379
Other assets	10,721	9,142	8,513	5,571	4,884
Total assets	133,960	135,161	134,711	138,805	146,529
Short-term borrowings	2,499	0	0	1	14
Current portion of long-term debt and finance lease obligations	6,056	6,804	7,191	4,135	12,481
Accounts payable and accrued liabilities	34,734	31,945	30,650	25,402	22,699
Total current liabilities	43,289	38,749	37,841	29,538	35,194
Long-term debt and finance lease obligations	58,941	60,340	52,194	59,135	64,189
Deferred income taxes	2,389	2,579	1,952	2,190	3,009
Other long-term liabilities	32,569	30,129	32,327	30,655	28,701
Commitments and contingencies	—	—	—	—	—
Common stock, $0.01 par value, 4,000,000,000 shares authorized, 1,838,678,628 shares issued as of December 31, 2025 and 1,831,594,494 as of December 31, 2024	18	18	18	18	18
Common stock held in treasury, at cost, 70,802,593 shares as of December 31, 2025 and 66,337,508 as of December 31, 2024	−9,146	−8,201	−6,533	−4,594	−3,143
Additional paid-in capital	22,495	21,333	20,180	19,245	18,305
Accumulated deficit	−15,493	−7,900	−1,000	4,784	3,127
Accumulated other comprehensive loss	−1,144	−1,925	−2,305	−2,199	−2,899
Total stockholders' equity (deficit)	−3,270	3,325	10,360	17,254	15,408
Noncontrolling interest	42	39	37	33	28
Total equity (deficit)	−3,228	3,364	10,397	17,287	15,436
Total liabilities and equity	133,960	135,161	134,711	138,805	146,529

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	762	764	752	778	803
Amortization of intangible assets	7,400	7,600	7,900	7,700	7,700
Deferred income taxes	−492	−1,449	−2,889	−1,931	−898
Change in fair value of contingent consideration liabilities	6,495	3,771	5,128	2,761	2,679
Payments of contingent consideration liabilities	−2,865	−1,995	−870	−164	−91
Stock-based compensation	955	911	747	671	692
Acquired IPR&D and milestones	5,016	2,757	778	697	1,124
Non-cash litigation reserve adjustments, net of cash payments	−933	508	−443	2,243	163
Impairment of intangible assets	847	4,476	4,229	770	50
Other, net	−3	−63	−225	−150	−213
Accounts receivable	−1,490	207	66	−1,455	−1,321
Inventories	−234	−319	−417	−686	−142
Prepaid expenses and other assets	−827	361	−188	−264	−197
Accounts payable and other liabilities	951	177	3,840	1,769	1,719
Income tax assets and liabilities, net	−762	−3,208	−488	542	−1,290
Cash flows from operating activities	19,030	18,806	22,839	24,943	22,777
Acquisition of businesses, net of cash acquired	−204	−17,493	0	−255	−525
Other acquisitions and investments, net of cash acquired	−5,200	−3,000	−1,200	−539	−1,400
Acquisitions of property and equipment	−1,214	−974	−777	−695	−787
Purchases of investment securities	−35	−73	−77	−1,438	−119
Sales and maturities of investment securities	76	555	55	1,530	98
Other, net	−29	189	13	774	366
Cash flows from investing activities	−6,643	−20,820	−2,009	−623	−2,344
Net change in commercial paper borrowings with original maturities of three months or less	499	0	0	—	0
Proceeds from Short-Term Debt	4,798	5,008	0	0	—
Repayments of Other Short-Term Debt	−2,798	−5,008	0	0	0
Proceeds from issuance of long-term debt	3,994	16,963	—	2,000	1,000
Repayments of long-term debt and finance lease obligations	−6,797	−9,613	−4,149	−14,433	−9,414
Debt issuance costs	−23	−99	−38	0	0
Dividends paid	−11,657	−11,025	−10,539	−10,043	−9,261
Purchases of treasury stock	−980	−1,708	−1,972	−1,487	−934
Proceeds from the exercise of stock options	172	214	180	262	244
Payments of contingent consideration liabilities	0	0	−752	−1,132	−698
Other, net	68	57	48	30	24
Cash flows from financing activities	−12,724	−5,211	−17,222	−24,803	−19,039
Effect of exchange rate changes on cash and equivalents	42	−65	5	−62	−97
Net change in cash and equivalents	−295	−7,290	3,613	−545	1,297
Interest paid, net of portion capitalized	3,002	2,811	2,469	2,546	2,712

Filings

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