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Branded biopharma focused on immunology (Humira successors), oncology, neuroscience and aesthetics (Botox).
Branded biopharma focused on immunology (Humira successors), oncology, neuroscience and aesthetics (Botox).
Sells patented drugs through payers and specialty channels; Skyrizi and Rinvoq have taken over the role of Humira, whose US biosimilar competition began in 2023, while Botox and other Allergan aesthetics products sell mostly to doctors for cosmetic procedures that patients pay for themselves. Allergan was bought in 2020.
Moat: narrow (IP / patents, brand, scale). Patent-protected immunology drugs and the Botox brand carry pricing power, but face eventual biosimilar entry.
Headquarters: North Chicago, Illinois, United States · Founded: 2013 · Employees: 57,000
Size AbbVie (ABBV) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $515B, the 21st largest of 3,117 United States companies the cockpit tracks. Shares closed at $291.31 on 6 Nov 2026.
Performance Over six months the shares gained 44.5%, against +21.8% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 10 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +5.2%); the operating margin is 36.2% (peer median 30.5%).
Valuation It trades at 18.4× forward earnings against a peer median of 18.4× (5th most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.5 points above its cost of capital (6.2% WACC).
Credit AbbVie has 47 bonds outstanding ($77.8B), rated A- by the agencies and trading like A+ at a weighted spread of 65 bp.
Short interest Short interest is 0.9% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $66.0B | $61.2B | $56.3B | $54.3B | $58.1B |
| Revenue growth | — | +9% | +4% | -6% | — |
| Gross profit | $48.7B | $42.9B | $39.5B | $37.7B | $41.6B |
| EBITDA | $31.6B | $29.1B | $25.0B | $26.8B | $31.1B |
| Net income | $10.3B | $4.19B | $4.24B | $4.82B | $11.8B |
| Free cash flow | $18.9B | $17.8B | $17.8B | $22.0B | $24.2B |
| Capital expenditure | $1.22B | $1.21B | $974M | $777M | $695M |
| Total debt | $80.9B | $68.4B | $67.8B | $60.1B | $64.2B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
| Johnson & Johnson JNJ | $665B | +26% | +8% | 26% | 24.5× | 3.5% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 10.4× | -4.3% |
| Merck & MRK | $362B | +33% | +5% | 18% | 17.4× | 4.1% |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ABBV | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.9% | +8.7% | 3rd lowest of 10 |
| 6-month return | +44.5% | +21.8% | highest of 10 |
| Distance from 52-week high | -3.8% | -6.5% | 5th highest of 10 |
| Revenue growth (TTM) | +10.7% | +5.2% | 3rd highest of 10 |
| Operating margin | 36.2% | 30.5% | 3rd highest of 10 |
| Forward P/E | 18.4× | 18.4× | 5th most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | -0.1% | 3.5% | 2nd least demanding of 10 |
| Growth delivered (Del g) | +6.0% | +9.3% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | -6.1 pp | -5.2 pp | 5th least demanding of 10 |
| ROIC minus cost of capital | +22.5 pp | +12.3 pp | 3rd highest of 10 |
| EV / EBITDA | 18.5× | 15.6× | 4th most expensive of 9 |
| Net debt / EBITDA | 2.2× | 1.0× | most indebted of 9 |
| Bond spread | 65 bp | 59 bp | 3rd widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AbbVie ABBV | United States | $515B | +45% | +11% | 36% | 18.4× | -0.1% | +6.0% |
| Johnson & Johnson JNJ | United States | $665B | +26% | +8% | 26% | 24.5× | 3.5% | +2.7% |
| Roche RO.SW | Switzerland | $385B | +22% | -1% | 31% | 19.6× | 0.9% | +1.1% |
| Merck & MRK | United States | $362B | +33% | +5% | 18% | 17.4× | 4.1% | +9.3% |
| Novartis NOVN.SW | Switzerland | $298B | +15% | -4% | 30% | 18.4× | 1.7% | -0.2% |
| AstraZeneca AZN.L | United Kingdom | $291B | +1% | +5% | 23% | 18.3× | 14.5% | +15.7% |
| Lilly (Eli) LLY | United States | $1.27T | +43% | +46% | 51% | 28.9× | 5.9% | +21.6% |
| Novo Nordisk A/S NOVO-B.CO | Denmark | $190B | -7% | +6% | 48% | 11.9× | 0.1% | +19.5% |
| Pfizer PFE | United States | $168B | +14% | +1% | 26% | 10.4× | -4.3% | +8.5% |
| Vertex Pharmaceuticals VRTX | United States | $139B | +27% | +11% | 35% | 29.0× | 6.1% | +14.2% |
AbbVie has 47 bonds outstanding with $77.8B face value. The agencies rate it A-; its bonds trade like A+. Weighted yield 5.43%, a spread of 65 bp over government bonds.