AbbVie Inc.
NYSE · USD
Mega cap
2.84× peer median
1.28× peer median
72% less volatile
$29.1B of current assets against $43.3B due within a year: a shortfall of $14.2B.
Liquidity · FY25
$63.1B of net debt against $19.0B of annual operating cash flow.
Liquidity · FY25
$56.2B in FY21 to $61.2B in FY25, with the latest year up 8.6%.
Growth · FY25
31.9% in FY21 to 32.8% in FY25.
Profitability · FY25
Free cash flow of $17.8B covers the business without outside capital, on $5.3B of cash and short-term investments.
AbbVie remains a 'Buy', supported by robust fundamentals, a strong immunology portfolio, and attractive valuation metrics. The recent $11B Apogee Therapeutics acquisition enhances ABBV's pipeline in immunology, oncology, neuroscience, and aesthetics, with only modest near-term EPS dilution. Q2 results beat expectations, driven by Skyrizi and Rinvoq, while technicals and momentum favor continued upside toward a $292 price target.
AbbVie (ABBV), the pharmaceutical and biotechnology giant, put its cancer pipeline squarely on investors' radar Thursday, with shares priced at $260.445. Etenta
Average month-end to month-end move for ABBVin each calendar month. Point at a bar for that month's spread: past seasonality is a tendency in a small sample, not a forecast.
+$4.8B vs FY24
FY24 → FY25
FY21 → FY25, annualized
+10.4% vs the four before
Q2 FY26 · +10.2% YoY
+8.6% YoY
+0.2 pp YoY
+16.6 pp YoY
−1.2% YoY
−0.7 pp YoY
−1.2% YoY
−0.1% YoY
−$1.5B YoY
P/E vs EPS growth · below the channel = cheaper for its growth
P/S vs revenue growth · below the channel = cheaper for its growth
| Ticker | P/E | Fwd P/E | PEG | P/S | Fwd P/S | PSG | EPS gr | Rev gr |
|---|---|---|---|---|---|---|---|---|
| ABBV | 73.3 | 18.6 | 0.19 | 7.1 | 6.8 | 0.77 | 96% | 9% |
| JNJ | 32.2 | 24.0 | 2.70 | 6.9 | 6.6 | 0.88 | 9% | 8% |
| MRK | 120.9 | 55.4 | 4.26 | 5.7 | 5.6 | 1.22 | 13% | 5% |
| UNH | 25.8 | 20.3 | 0.79 | 0.8 | 0.8 | 0.30 | 26% | 3% |
| NVS | 24.3 | 18.6 | 1.30 | 5.6 | 5.4 | 0.92 | 14% | 6% |
| AZN | 24.5 | 16.1 | 0.65 | 4.2 | 4.0 | 0.56 | 25% | 7% |
Dots = reported EPS vs consensus · gap = surprise · dashed = estimate ($)
Last 12M · $60M bought · $56M sold · net +$4M
Liquidity · FY25
$61.2B of revenue against $41.1B of operating costs, leaving $20.1B.
Profitability · FY25
$103.9B of free cash flow against $36.7B of net income across 5 fiscal years.
Quality · FY25
Revenue came in above consensus by 1.4% on average over the last four reports.
Quality · Jul '26
Share of the latest fiscal year, largest first. The line is the segment across every fiscal year we have: hover it to read one. “Not broken out” is the remainder, pinned last whatever its size: the named segments reach 95% of reported revenue, and the rest was filed without a segment label at all.
What each segment added to or took off the top line in dollars: ranked by the size of the move, not its percentage.
| $ billions | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Cash & equivalents | 5.2 | 5.5 | 12.8 | 9.2 | 9.7 |
| Short-term investments | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 |
| Receivables | 12.6 | 10.9 | 11.2 | 11.3 | 10.0 |
| Inventory | 5.0 | 4.2 | 4.1 | 3.6 | 3.1 |
| Total current assets | 29.1 | 25.6 | 33.0 | 28.5 | 27.9 |
| Property, plant & equipment | 6.4 | 5.1 | 5.0 | 4.9 | 5.1 |
| Long-term investments | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 |
| Other non-current assets | 98.2 | 104.2 | 96.4 | 105.2 | 113.2 |
| Total assets | 134.0 | 135.2 | 134.7 | 138.8 | 146.5 |
| Accounts payable | 3.6 | 2.9 | 3.7 | 2.9 | 2.9 |
| Short-term debt | 8.7 | 6.8 | 7.2 | 4.3 | 12.7 |
| Total current liabilities | 43.3 | 38.7 | 37.8 | 29.5 | 35.2 |
| Long-term debt | 59.6 | 60.3 | 52.2 | 59.1 | 64.2 |
| Total liabilities | 137.2 | 131.8 | 124.3 | 121.5 | 131.1 |
| Shareholders’ equity | −3.3 | 3.3 | 10.4 | 17.3 | 15.4 |
Fiscal year · latest five reported years
| $ billions | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Operating cash flow | 19.0 | 18.8 | 22.8 | 24.9 | 22.8 |
| Capital expenditure | −1.2 | −1.0 | −0.8 | −0.7 | −0.8 |
| Free cash flow | 17.8 | 17.8 | 22.1 | 24.2 | 22.0 |
| Investing cash flow | −6.6 | −20.8 | −2.0 | −0.6 | −2.3 |
| Dividends paid | −11.7 | −11.0 | −10.5 | −10.0 | −9.3 |
| Share buybacks | −1.0 | −1.7 | −2.0 | −1.5 | −0.9 |
| Net debt issued / (repaid) | −0.3 | 7.3 | −4.1 | −12.4 | −8.4 |
| Financing cash flow | −12.7 | −5.2 | −17.2 | −24.8 | −19.0 |
| Net change in cash | −0.3 | −7.3 | 3.6 | −0.5 | 1.3 |
Fiscal year · outflows shown negative
Solid = reported · dashed = forward consensus · shaded = analyst low–high ($B)
Rows: discount rate (r) · Columns: terminal growth (g∞) · cell = fair value, shaded by up/downside vs 260.