Abbott Laboratories
ABT · NYSEPharmaceutical Preparations · Fiscal year ends Dec 31
Abbott Laboratories reported revenue of $44.3B in the fiscal year ended Dec 2025, up 5.7% from the year before. Operating income was $8.1B, an operating margin of 18.2%, and net income was $6.5B. Operating cash flow of $9.6B less capital expenditure of $2.2B left free cash flow of $7.4B. Net debt was $4.4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $43.1B | $43.7B | $40.1B | $42B | $44.3B |
| Cost of revenue | $18.5B | $19.1B | $18B | $18.7B | $19.3B |
| Gross profit | $24.5B | $24.5B | $22.1B | $23.2B | $25B |
| Research & development | $2.7B | $2.9B | $2.7B | $2.8B | $2.9B |
| Selling, general & admin | $11.3B | $11.2B | $10.9B | $11.7B | $12.3B |
| Operating income | $8.4B | $8.4B | $6.5B | $6.8B | $8.1B |
| Interest expense | $533M | $558M | $637M | $559M | $493M |
| Pre-tax income | $8.2B | $8.3B | $6.7B | $7B | $8.5B |
| Income tax | $1.1B | $1.4B | $941M | −$6.4B | $1.9B |
| Net income | $7.1B | $6.9B | $5.7B | $13.4B | $6.5B |
| Diluted EPS | 3.94 | 3.91 | 3.26 | 7.64 | 3.72 |
| Diluted shares | 1,789M | 1,764M | 1,749M | 1,748M | 1,748M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $9.8B | $9.9B | $6.9B | $7.6B | $8.5B |
| Receivables | $6.5B | $6.2B | $6.6B | $6.9B | $7.9B |
| Inventory | $5.2B | $6.2B | $6.6B | $6.2B | $6.5B |
| Current assets | $24.2B | $25.2B | $22.7B | $23.7B | $26B |
| Net PP&E | $9B | $9.2B | $10.2B | $10.7B | $11.8B |
| Goodwill | $23.2B | $22.8B | $23.7B | $23.1B | $24B |
| Total assets | $75.2B | $74.4B | $73.2B | $81.4B | $86.7B |
| Deferred revenue | $520M | $500M | $545M | $568M | $633M |
| Current liabilities | $13.1B | $15.5B | $13.8B | $14.2B | $16.5B |
| Short-term debt | $754M | $2.3B | $1.1B | $1.5B | $3B |
| Long-term debt | $17.3B | $14.5B | $13.6B | $12.6B | $9.9B |
| Shareholders' equity | $35.8B | $36.7B | $38.6B | $47.7B | $52.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $10.5B | $9.6B | $7.3B | $8.6B | $9.6B |
| Capital expenditure | $1.9B | $1.8B | $2.2B | $2.2B | $2.2B |
| Free cash flow | $8.6B | $7.8B | $5.1B | $6.4B | $7.4B |
| Depreciation & amortisation | $1.5B | $1.3B | $1.3B | $1.3B | $1.4B |
| Stock-based compensation | $640M | $685M | $644M | $673M | $664M |
| Share buybacks | $2.3B | $3.8B | $1.2B | $1.3B | $893M |
| Dividends paid | $3.2B | $3.3B | $3.6B | $3.8B | $4.1B |
| Dividend per share | – | 1.92 | 2.08 | 2.24 | 2.40 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 1.3% | −8.1% | 4.6% | 5.7% |
| Operating income growth (YoY) | – | −0.7% | −22.5% | 5.4% | 18.0% |
| EPS growth (YoY) | – | −0.8% | −16.6% | 134.4% | −51.3% |
| Gross margin | 57.0% | 56.1% | 55.2% | 55.4% | 56.4% |
| Operating margin | 19.6% | 19.2% | 16.2% | 16.3% | 18.2% |
| Net margin | 16.4% | 15.9% | 14.3% | 31.9% | 14.7% |
| Return on equityBlank when equity is negative | 19.8% | 18.9% | 14.8% | 28.1% | 12.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 13.6% | 14.2% | 10.9% | 10.1% | 11.5% |
| Free cash flow margin | 20.1% | 17.9% | 12.6% | 15.1% | 16.7% |
| Cash conversion (CFO ÷ net income) | 1.49x | 1.38x | 1.27x | 0.64x | 1.47x |
| Receivable days | 55 | 52 | 60 | 60 | 65 |
| Inventory days | 102 | 118 | 133 | 121 | 123 |
| Interest cover | 15.8x | 15.0x | 10.2x | 12.2x | 16.3x |
| Debt ÷ equity | 0.50x | 0.46x | 0.38x | 0.30x | 0.25x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $8.3B | $6.9B | $7.8B | $6.5B | $4.4B |
| Current ratio | 1.85x | 1.63x | 1.64x | 1.67x | 1.58x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.