# AbbVie Inc. (ABBV)

> AbbVie researches, develops and sells medicines and aesthetic treatments for immune diseases, neurological conditions, cancers and other health needs.

- Exchange: New York Stock Exchange · Sector: Healthcare · Industry: Drug Manufacturers General
- Headquarters: North Chicago, Illinois, United States
- Founded: 2012 (incorporated; began independent public trading in 2013)
- Employees: Approximately 57,000
- SEC CIK: 0001551152 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001551152))
- Full page: https://inspectstocks.com/stocks/abbv
- Data as of: price 2026-09-25; newest filing used 2026-08-03; latest fiscal period ended 2026-06-30

## Grade

**B** on the growth-and-cash rubric, 4 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $64.4B | $56B |
| Revenue growing recently | passed | $64.4B | $61.2B |
| Free cash flow positive | passed | $18.2B |  |
| Free cash flow growing overall | failed | $18.2B | $24.8B |
| Free cash flow growing recently | passed | $18.2B | $17.8B |

Business quality (the + / − mark): 4 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 9.8% |  |
| Healthy profit margin | failed | 9.8% |  |
| Strong operating margin | passed | 26.2% |  |
| Good return on equity | failed | -193.0% |  |
| Debt under control | passed | -20.92 |  |
| Turns sales into cash | passed | 28.3% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $64.4B |
| Net income, trailing twelve months | $6.3B |
| Free cash flow, trailing twelve months | $18.2B |
| Net margin | 9.8% |
| Operating margin | 26.2% |
| Return on equity | -193.0% |
| Debt to equity | -20.92 |
| Diluted EPS, trailing twelve months | $3.54 |
| Share price | $264.34 |
| Market value | $467.1B |
| Price / earnings | 74.7x |
| Price / sales | 7.3x |

## What the business does

AbbVie researches, tests, makes and sells prescription medicines and some medical devices. Its medicines treat immune diseases, neurological conditions, cancers, migraine, eye diseases and other conditions; it also sells cosmetic injections, fillers and skincare products. It sells mainly through wholesalers and distributors, with some aesthetic products sold directly to licensed health professionals.

### How it makes money

- **Sales of medicines and therapies** (100%) — AbbVie reports one global business segment. It earns revenue mainly by selling its medicines and therapies to wholesalers, distributors, government agencies, health facilities and pharmacies; some aesthetic products and devices are sold directly to licensed healthcare providers. Some products also generate collaboration revenue.

### Products

- **Skyrizi** — An injectable biologic medicine for autoimmune diseases including psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis. In 2026, U.S. and European regulators also approved it for some children with plaque psoriasis.
- **Rinvoq** — A once-daily pill for several inflammatory and autoimmune diseases, including rheumatoid arthritis, atopic dermatitis, ulcerative colitis and Crohn's disease. European regulators approved it for vitiligo and severe alopecia areata in 2026.
- **Humira** — An injectable biologic medicine used for autoimmune conditions including rheumatoid arthritis, psoriasis, Crohn's disease and ulcerative colitis. It faces competition from biosimilar medicines.
- **Botox Therapeutic and Botox Cosmetic** — An injectable medicine used therapeutically for conditions including chronic migraine and muscle disorders; its cosmetic version temporarily reduces the appearance of facial lines.
- **Vraylar** — A prescription medicine used to treat schizophrenia and episodes of bipolar disorder, and alongside other medicine for major depression.
- **Venclexta** — A cancer medicine used for blood cancers including chronic lymphocytic leukemia and acute myeloid leukemia. In 2026, U.S. regulators approved a combination with another cancer medicine for some previously untreated adults with chronic lymphocytic leukemia.

### Customers

- Wholesalers and distributors buy medicines for resale to pharmacies, hospitals and other healthcare providers.
- Government agencies and public health programs buy medicines or set coverage and reimbursement terms.
- Health insurers and pharmacy benefit managers influence which medicines patients can access and the prices or rebates paid.
- Hospitals, health facilities, specialty pharmacies and independent pharmacies buy medicines for use or dispensing to patients.
- Physicians and other licensed healthcare providers prescribe AbbVie's prescription medicines and can buy some aesthetic products and devices directly.

### Competitors

- Johnson & Johnson (JNJ) — Medicines for immune diseases, including treatments used in psoriasis.
- Merck & Co., Inc. (MRK) — Cancer medicines, including antibody-drug conjugates discussed alongside AbbVie's cancer drug development.
- AstraZeneca (AZN) — Cancer medicines, including antibody-drug conjugates discussed alongside AbbVie's cancer drug development.

### What it depends on

- AbbVie relies on large wholesale distributors to move its medicines, especially in the United States.
- Some medicines or manufacturing components depend on a limited number of suppliers, and in some cases a single supply source.
- Revenue depends on patents and regulatory exclusivity; Humira already faces biosimilar competition.
- Pricing and patient access depend partly on government reimbursement rules, insurers and pharmacy benefit managers.
- The business depends on discovering, testing and obtaining regulatory approval for new medicines, including products developed with collaborators.

### What could go wrong

- Patent expirations and biosimilar or generic competition can reduce sales. Humira's sales continued to fall amid biosimilar competition in the six months ended June 30, 2026.
- Government price controls, reimbursement limits and pressure from insurers and pharmacy benefit managers can reduce the prices AbbVie receives for its medicines.
- Research and development may not produce medicines that pass clinical trials and regulatory review or attract enough use after approval, leaving gaps as existing products lose exclusivity.

## More on this company

- [Overview](https://inspectstocks.com/stocks/abbv)
- [Financial statements](https://inspectstocks.com/stocks/abbv/financials)
- [Competitors](https://inspectstocks.com/stocks/abbv/peers)
- [Earnings](https://inspectstocks.com/stocks/abbv/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.