AbbVie Inc.

10-K & 10-Q Filings

AbbVie Inc. is a global, research-based biopharmaceutical company that was incorporated in Delaware in 2012. It became an independent, publicly-traded company as a result of the distribution by Abbott Laboratories of 100% of the outstanding common stock of AbbVie to Abbott's shareholders. AbbVie operates as a single global business segment dedicated to the research, development, manufacturing, commercialization, and sale of innovative medicines and therapies. The company's portfolio includes a broad line of therapies in immunology, oncology, aesthetics, neuroscience, and eye care. AbbVie's immunology products include Humira, Skyrizi, and Rinvoq, which are used to treat various autoimmune diseases and inflammatory conditions. Its oncology products include Imbruvica, Venclexta/Venclyxto, Epkinly, and Elahere, which are used to treat blood cancers and other conditions. In aesthetics, AbbVie offers Botox Cosmetic, The Juvederm Collection of Fillers, and other products. Its neuroscience products include Botox Therapeutic, Vraylar, Duopa/Duodopa, Ubrelvy, and Qulipta. AbbVie's eye care products include Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, and Restasis. Other key products include Mavyret/Maviret for the treatment of hepatitis C virus, Creon for exocrine pancreatic insufficiency, Lupron for the palliative treatment of advanced prostate cancer, Linzess/Constella for irritable bowel syndrome, and Synthroid for hypothyroidism. AbbVie markets, sells, and distributes its products worldwide through a combination of dedicated commercial resources, regional commercial resources, and distributorships. Its products are sold to wholesalers, distributors, government agencies, health care facilities, specialty pharmacies, and independent retailers. The company competes with other research-based pharmaceutical and biotechnology companies in highly competitive markets. The markets for AbbVie's products are affected by the approval of follow-on biologics, or biosimilars, which can reduce sales of the innovator biologic as compared to the sales erosion caused by generic versions of small molecule pharmaceutical products. AbbVie's intellectual property is materially valuable to the company, and it seeks patent protection in all significant markets and/or countries for each product in development. Pharmaceutical products may be entitled to patent term restoration and other forms of legal or regulatory exclusivity upon approval. Biologics may be entitled to exclusivity under the Biologics Price Competition and Innovation Act. AbbVie owns or has licensed rights to a substantial number of patents and patent applications, including those related to ibrutinib, risankizumab, and upadacitinib. Website: www.abbvie.com Ticker: ABBV

12 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$18790.00
19960.00
22859.00
25638.00
28216.00
32753.00
33266.00
45804.00
56197.00
58054.00
54318.00
12225.00
12310.00
11.20%0.70%Cost of Revenue (-)
$4581.00
4426.00
4500.00
5833.00
7040.00
7718.00
7439.00
15387.00
17446.00
17414.00
20415.00
3986.00
4094.00
16.12%2.71%Gross Profit (+)
$14209.00
15534.00
18359.00
19805.00
21176.00
25035.00
25827.00
30417.00
38751.00
40640.00
33903.00
8239.00
8216.00
9.09%-0.28%Selling, General & Administrative (-)
$5352.00
7724.00
6387.00
5855.00
6275.00
7399.00
6942.00
11299.00
12349.00
15260.00
12872.00
3039.00
3315.00
9.17%9.08%Research & Development (-)
$3193.00
3649.00
4435.00
4566.00
5309.00
10753.00
6792.00
7755.00
8046.00
7207.00
8453.00
2442.00
2103.00
10.23%-13.88%Operating Expenses (-)
$8545.00
12123.00
10822.00
10421.00
11584.00
18652.00
12844.00
19054.00
20827.00
22523.00
21146.00
5471.00
5418.00
9.48%-0.97%Costs & Expenses (Total) (-)
$13126.00
16549.00
15322.00
16254.00
18624.00
26370.00
20283.00
34441.00
38273.00
39937.00
41561.00
9457.00
9512.00
12.22%0.58%Operating Income/Loss (+)
$5664.00
3411.00
7537.00
9384.00
9592.00
6383.00
12983.00
11363.00
17924.00
18117.00
12757.00
2768.00
2798.00
8.46%1.08%Non-operating Income/Expense (+)
$54.00
-651.00
-206.00
-535.00
-861.00
-42.00
-3048.00
-5685.00
-2551.00
-2596.00
-4823.00
-1839.00
-590.00
67.92%Interest Expense (-)
$-278.00
391.00
686.00
965.00
1004.00
1144.00
1509.00
2280.00
2384.00
2044.00
1684.00
454.00
453.00
-0.22%Earnings before Tax (+)
$5332.00
2369.00
6645.00
7884.00
7727.00
5197.00
8426.00
3398.00
12989.00
13477.00
6250.00
475.00
1755.00
1.60%269.47%Tax Expense (-)
$1204.00
595.00
1501.00
1931.00
2418.00
-490.00
544.00
-1224.00
1440.00
1632.00
1377.00
234.00
383.00
1.35%63.68%Income/Loss (Continuing Operations) (+)
$4128.00
1774.00
5144.00
5953.00
5309.00
5687.00
7882.00
4622.00
11549.00
11845.00
4873.00
241.00
1372.00
1.67%469.29%Profit/Loss (+)
$
4622.00
11549.00
11845.00
4873.00
241.00
1372.00
469.29%Net Income/Loss (NCI) (-)
$
6.00
7.00
9.00
10.00
2.00
3.00
50.00%Net Income/Loss (+)
$4128.00
1774.00
5144.00
5953.00
5309.00
5687.00
7882.00
4616.00
11542.00
11836.00
4863.00
239.00
1369.00
1.65%472.80%Net Income/Loss (Common) (+)
$4128.00
1774.00
5144.00
5953.00
5309.00
5687.00
7882.00
4616.00
11542.00
11836.00
4863.00
239.00
1369.00
1.65%472.80%EPS (Basic)
$2.58
1.11
3.15
3.65
3.31
3.67
5.30
2.73
6.48
6.65
2.73
0.13
0.77
0.57%492.31%EPS (Diluted)
$2.56
1.10
3.13
3.63
3.30
3.66
5.28
2.72
6.45
6.63
2.72
0.13
0.77
0.61%492.31%Weighted Avg Shares (Basic)
1589.00
1595.00
1625.00
1622.00
1596.00
1541.00
1481.00
1667.00
1770.00
1771.00
1768.00
1770.00
1769.00
1.07%-0.06%Weighted Avg Shares (Diluted)
1604.00
1610.00
1637.00
1631.00
1603.00
1546.00
1484.00
1673.00
1777.00
1778.00
1773.00
1776.00
1773.00
1.01%-0.17%Cash
$9595.00
8348.00
8399.00
5100.00
9303.00
7289.00
39924.00
8449.00
9746.00
9201.00
12814.00
6711.00
18067.00
2.94%169.21%Short-term Investments
$300.00
26.00
8.00
1323.00
486.00
772.00
30.00
84.00
28.00
2.00
11.00
2.00
-39.41%-81.82%Receivables
$3854.00
3735.00
4730.00
4758.00
5088.00
5384.00
5428.00
8822.00
9977.00
11254.00
11155.00
11473.00
11949.00
11.21%4.15%Inventory
$1150.00
1124.00
1719.00
1444.00
1605.00
1605.00
1813.00
3310.00
3128.00
3579.00
4099.00
3833.00
4245.00
13.55%10.75%Other Assets (Current)
$2949.00
2855.00
1458.00
3562.00
4741.00
1895.00
2354.00
3562.00
4993.00
4401.00
4932.00
4460.00
4608.00
5.28%3.32%Assets (Current)
$17848.00
16088.00
16314.00
16187.00
21223.00
16945.00
49519.00
24173.00
27928.00
28463.00
33002.00
26488.00
38871.00
6.34%46.75%Securities & Long-term Investments
$118.00
92.00
145.00
1783.00
2090.00
1420.00
93.00
293.00
277.00
241.00
304.00
257.00
305.00
9.93%18.68%Property, Plant & Equipment (Net)
$2298.00
2485.00
2565.00
2604.00
2803.00
2883.00
2962.00
5248.00
5110.00
4935.00
4989.00
4931.00
4980.00
8.06%0.99%Goodwill & Intangibles
$8167.00
7375.00
32877.00
44313.00
43344.00
36896.00
34253.00
116000.00
108330.00
99595.00
87903.00
97068.00
95651.00
26.82%-1.46%Other Assets
$767.00
1507.00
1149.00
1212.00
1326.00
1208.00
2288.00
4851.00
4884.00
5571.00
8513.00
5800.00
9067.00
27.21%56.33%Assets (Non-current)
$11350.00
11459.00
36736.00
49912.00
49563.00
42407.00
39596.00
126392.00
118601.00
110342.00
101709.00
108056.00
110003.00
24.52%1.80%Assets (Total)
$29198.00
27547.00
53050.00
66099.00
70786.00
59352.00
89115.00
150565.00
146529.00
138805.00
134711.00
134544.00
148874.00
16.52%10.65%Accounts Payable
$6448.00
6954.00
8463.00
9379.00
10226.00
11931.00
11832.00
20159.00
22699.00
25402.00
30650.00
24789.00
31326.00
16.87%26.37%Debt (Current)
$431.00
4446.00
2431.00
402.00
6415.00
5308.00
3753.00
8502.00
12495.00
4136.00
7191.00
2801.00
10196.00
32.50%264.01%Liabilities (Current)
$6879.00
11400.00
10894.00
9781.00
16641.00
17239.00
15585.00
28661.00
35194.00
29538.00
37841.00
27590.00
41522.00
18.59%50.50%Debt (Non-current)
$14292.00
10565.00
29240.00
36440.00
30953.00
35002.00
62975.00
77554.00
64189.00
59135.00
52194.00
59292.00
63805.00
13.83%7.61%Other Liabilities
$3535.00
3840.00
8971.00
15242.00
18095.00
15557.00
18727.00
31253.00
31710.00
32845.00
34279.00
34359.00
35500.00
25.51%3.32%Liabilities (Non-current)
$17827.00
14405.00
38211.00
51682.00
49048.00
50559.00
81702.00
108807.00
95899.00
91980.00
86473.00
93651.00
99305.00
17.11%6.04%Liabilities (Total)
$24706.00
25805.00
49105.00
61463.00
65689.00
67798.00
97287.00
137468.00
131093.00
121518.00
124314.00
121241.00
140827.00
17.54%16.15%Treasury Stock
$-320.00
972.00
8839.00
10852.00
11923.00
24108.00
24504.00
2264.00
3143.00
4594.00
6533.00
6524.00
7829.00
20.00%Retained Earnings
$1567.00
535.00
2248.00
4378.00
5459.00
3368.00
4717.00
1055.00
3127.00
4784.00
-1000.00
2393.00
-2384.00
-199.62%AOCI
$-442.00
-2031.00
-2561.00
-2586.00
-2727.00
-2480.00
-3596.00
-3117.00
-2899.00
-2199.00
-2305.00
-2232.00
-2454.00
-9.95%Shareholder's Equity
$4492.00
1742.00
3945.00
4636.00
5097.00
-8446.00
-8172.00
13097.00
15436.00
17287.00
10397.00
13303.00
8047.00
8.75%-39.51%Liabilities & Equity
$29198.00
27547.00
53050.00
66099.00
70786.00
59352.00
89115.00
150565.00
146529.00
138805.00
134711.00
134544.00
148874.00
16.52%10.65%Net Income/Loss
$4128.00
1774.00
5144.00
5953.00
5309.00
5687.00
7882.00
4622.00
11549.00
11845.00
4873.00
241.00
1372.00
1.67%469.29%Depreciation & Amortization
$897.00
786.00
419.00
1189.00
1501.00
1765.00
2017.00
6471.00
8521.00
8467.00
8698.00
2127.00
2074.00
25.51%-2.49%Increase/Decrease in Working Capital
$1510.00
788.00
-504.00
1689.00
-9.00
1126.00
1329.00
-106.00
1322.00
258.00
-2813.00
825.00
-247.00
-129.94%Share-based Compensation
$212.00
241.00
282.00
353.00
365.00
421.00
430.00
753.00
692.00
671.00
747.00
313.00
348.00
13.42%11.18%Adjustments to Reconcile Net Income
$2139.00
1775.00
2391.00
1088.00
4651.00
7740.00
5442.00
12966.00
11228.00
13098.00
17966.00
3952.00
2668.00
23.72%-32.49%Net Cash (Operating)
$6267.00
3549.00
7535.00
7041.00
9960.00
13427.00
13324.00
17588.00
22777.00
24943.00
22839.00
4193.00
4040.00
13.81%-3.65%Capital Expenditure
$-896.00
1234.00
12020.00
2974.00
529.00
638.00
552.00
39058.00
1312.00
950.00
777.00
175.00
9392.00
5266.86%Net Cash (Investing)
$879.00
-926.00
-12936.00
-6074.00
-274.00
-1006.00
596.00
-37557.00
-2344.00
-623.00
-2009.00
-499.00
-9588.00
-1821.44%Increase/Decrease in Debt
$-848.00
12.00
16623.00
5588.00
-3.00
3229.00
26247.00
-2683.00
-8414.00
-12433.00
-4149.00
-1351.00
14863.00
1200.15%Increase/Decrease in Equity
$320.00
-652.00
-7749.00
-6102.00
-1156.00
-11981.00
-1045.00
-789.00
-690.00
-1225.00
-1830.00
-1890.00
-1296.00
31.43%Interest Expenses
$283.00
419.00
536.00
986.00
1099.00
1215.00
1794.00
2619.00
2712.00
2546.00
2469.00
24.19%Dividends Paid
$-2555.00
2661.00
3294.00
3717.00
4107.00
5580.00
6366.00
7716.00
9261.00
10043.00
10539.00
2661.00
2772.00
4.17%Net Cash (Financing)
$-3442.00
-3293.00
5752.00
-3928.00
-5512.00
-14396.00
18708.00
-11501.00
-19039.00
-24803.00
-17222.00
-6192.00
10819.00
274.73%Cash Taxes Paid
$1305.00
498.00
1108.00
3563.00
1696.00
-35.00
1447.00
1674.00
3648.00
2988.00
4702.00
13.68%Effect of Exchange Rate
$-10.00
-577.00
-300.00
-338.00
29.00
-39.00
7.00
-5.00
-97.00
-62.00
5.00
8.00
-18.00
-325.00%Increase/Decrease in Cash
$3694.00
-1247.00
51.00
-3299.00
4203.00
-2014.00
32635.00
-31475.00
1297.00
-545.00
3613.00
-2490.00
5253.00
-0.22%310.96%Cash (Beginning)
$5901.00
9595.00
8348.00
8399.00
5100.00
9303.00
7289.00
39924.00
8449.00
9746.00
9201.00
9201.00
12814.00
4.54%39.27%Cash (Ending)
$9595.00
8348.00
8399.00
5100.00
9303.00
7289.00
39924.00
8449.00
9746.00
9201.00
12814.00
6711.00
18067.00
2.94%169.21%NOPAT
$4277.74
2693.96
6280.27
5143.11
7486.65
6425.99
10753.42
15456.09
12889.99
14100.26
3159.65
1404.40
2187.38
-2.98%55.75%Gross Margin %
75.62%
77.83%
80.31%
77.25%
75.05%
76.44%
77.64%
66.41%
68.96%
70.00%
62.42%
67.39%
66.74%
Operating Margin %
30.14%
17.09%
32.97%
36.60%
33.99%
19.49%
39.03%
24.81%
31.89%
31.21%
23.49%
22.64%
22.73%
NOPAT Margin %
22.77%
13.50%
27.47%
20.06%
26.53%
19.62%
32.33%
33.74%
22.94%
24.29%
5.82%
11.49%
17.77%
Net Margin %
21.97%
8.89%
22.50%
23.22%
18.82%
17.36%
23.69%
10.08%
20.54%
20.39%
8.95%
1.96%
11.12%
Tax Rate %
24.47%
21.02%
16.67%
45.19%
21.95%
-0.67%
17.17%
-36.02%
28.09%
22.17%
75.23%
49.26%
21.82%
ROA
14.65%
9.78%
11.84%
7.78%
10.58%
10.83%
12.07%
10.27%
8.80%
10.16%
2.35%
1.04%
1.47%
ROE
95.23%
154.65%
159.20%
110.94%
146.88%
-76.08%
-131.59%
118.01%
83.51%
81.57%
30.39%
10.56%
27.18%
ROIC
39.25%
27.60%
17.58%
11.11%
16.48%
16.86%
29.91%
13.12%
11.78%
14.13%
3.81%
1.50%
2.52%
Asset Turnover
0.64
0.72
0.43
0.39
0.40
0.55
0.37
0.30
0.38
0.42
0.40
0.09
0.08
Inventory Turnover
3.98
3.94
2.62
4.04
4.39
4.81
4.10
4.65
5.58
4.87
4.98
1.04
0.96
Equity Multiplier
6.50
15.81
13.45
14.26
13.89
-7.03
-10.90
11.50
9.49
8.03
12.96
10.11
18.50
Current Ratio
2.59
1.41
1.50
1.65
1.28
0.98
3.18
0.84
0.79
0.96
0.87
0.96
0.94
Quick Ratio
2.00
1.06
1.21
1.14
0.89
0.78
2.91
0.60
0.56
0.69
0.63
0.66
0.72
Debt/Equity Ratio
3.28
8.62
8.03
7.95
7.33
-4.77
-8.17
6.57
4.97
3.66
5.71
4.67
9.20
Interest Coverage Ratio
20.01
8.14
14.06
9.52
8.73
5.25
7.24
4.34
6.61
7.12
5.17
Working Capital/Sales
0.02
-0.00
0.01
-0.02
-0.03
-0.05
-0.04
-0.08
-0.07
-0.08
-0.18
-0.68
-1.13
R&D/Sales
0.17
0.18
0.19
0.18
0.19
0.33
0.20
0.17
0.14
0.12
0.16
0.20
0.17
Dividend Payout Ratio %
-59.73%
98.78%
52.45%
72.27%
54.86%
86.83%
59.20%
49.92%
71.85%
71.23%
333.55%
189.48%
126.73%
Total Payout
$-1744.00
3720.00
-5044.00
5217.00
6365.00
15547.00
-17042.00
13807.00
21077.00
26247.00
18987.00
5902.00
-10795.00
-282.90%Payout Ratio %
-40.77%
138.09%
-80.32%
101.44%
85.02%
241.94%
-158.48%
89.33%
163.51%
186.15%
600.92%
420.25%
-493.51%