AB
AbbVie Inc
ABBV—
AbbVie Inc AI Insights
Informational only. Not investment advice.Snapshot
- Negative equity (-2.6B) with 90B in intangibles (67% of assets) - balance sheet entirely dependent on acquired IP value[Common Stockholders Equity]
- FCF of 19.7B TTM (33% margin) covers 11.5B dividends 1.7x despite 5.3B impairment charges dragging net income to 2.4B[Free Cash Flow TTM]
- P/E of 60x vs industry median 20x masks 20.9B operating cash flow - earnings depressed by non-cash charges[P/E Ratio]
Watch Triggers
- Free Cash Flow TTM: Falls below 15B (1.3x dividend coverage) — Dividend of 11.5B requires FCF - debt refinancing not viable at current leverage
- Asset Impairment Charge TTM: Exceeds 3B in consecutive years — Signals systematic acquisition value destruction, not one-time adjustments
- Operating Margin TTM: Falls below 20% — Current 24% margin supports debt service; compression threatens capital structure
Bull Case
Cash generation machine: 19.7B FCF on 59.6B revenue (33% margin) funds 6.47/share dividend while servicing 68.7B debt
Free Cash Flow TTMDividends Paid Per Share TTM
R&D spend of 13.3B (22% of revenue) is 39x industry median - pipeline investment sustains post-Humira transition
Research and Development TTMGross Margin TTM
Bear Case
Debt of 68.7B at 2.9B interest expense with negative equity - any FCF deterioration threatens dividend sustainability
Total DebtInterest Expense TTMTotal Equity
Goodwill 35.6B (27% of assets) with 5.3B impairments TTM signals acquisition overpayment risk continues
GoodwillAsset Impairment Charge TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
Earnings normalization as impairment charges fade could compress P/E from 60x toward 15-20x range
1-3ymed
- 5.3B TTM impairment charges are non-recurring
- Operating cash flow 20.9B vs net income 2.4B gap
- R&D of 13.3B sustaining pipeline value
Asset impairment 5.3B TTM vs median 2.8MOperating margin 24% vs net margin 4%FCF 19.7B proves underlying profitability
Valuation Context
Caveats
Public Strategies Rankings
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ABBV Fundamentals
Manufacturing → Chemical Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$379.83B | — | ||
$442.94B | — | ||
58 | — | ||
$59.64B | +7.4% | — | |
$3.72 | +17.5% | — | |
24.1% | -2.0% | — | |
4% | -5.2% | — | |
$19.68B | +26.0% | — | |
0.00 | — | ||
Beta 5Y (Monthly) | unknown | — |
ABBV Dividend History
53 dividends
2026
$1.730001/16/26$1.7300
2025
$6.560010/15/25$1.6400
07/15/25$1.6400
04/15/25$1.6400
01/15/25$1.6400
2024
$6.200010/15/24$1.5500
07/15/24$1.5500
04/12/24$1.5500
01/12/24$1.5500
2023
$5.920010/12/23$1.4800
07/13/23$1.4800
04/13/23$1.4800
01/12/23$1.4800
2022
$5.640010/13/22$1.4100
07/14/22$1.4100
04/13/22$1.4100
01/13/22$1.4100
2021
$5.200010/14/21$1.3000
07/14/21$1.3000
04/14/21$1.3000
01/14/21$1.3000
2020
$4.720010/14/20$1.1800
07/14/20$1.1800
04/14/20$1.1800
01/14/20$1.1800
2019
$4.280010/11/19$1.0700
07/12/19$1.0700
04/12/19$1.0700
01/14/19$1.0700
2018
$3.590010/12/18$0.9600
07/12/18$0.9600
04/12/18$0.9600
01/11/18$0.7100
2017
$2.560010/12/17$0.6400
07/12/17$0.6400
04/11/17$0.6400
01/11/17$0.6400
2016
$2.280010/12/16$0.5700
07/13/16$0.5700
04/13/16$0.5700
01/13/16$0.5700
2015
$2.020010/13/15$0.5100
07/13/15$0.5100
04/13/15$0.5100
01/13/15$0.4900
2014
$1.660010/10/14$0.4200
07/11/14$0.4200
04/11/14$0.4200
01/13/14$0.4000
2013
$1.600010/10/13$0.4000
07/11/13$0.4000
04/11/13$0.4000
01/11/13$0.4000
ABBV Stock Splits
No stock splits
ABBV SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/04/25 | 09/30/25 | 10-Q | |
08/04/25 | 06/30/25 | 10-Q | |
05/09/25 | 03/31/25 | 10-Q | |
02/14/25 | 12/31/24 | 10-K | |
11/04/24 | 09/30/24 | 10-Q | |
08/07/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
02/20/24 | 12/31/23 | 10-K | |
11/06/23 | 09/30/23 | 10-Q | |
08/07/23 | 06/30/23 | 10-Q | |
05/05/23 | 03/31/23 | 10-Q | |
02/17/23 | 12/31/22 | 10-K | |
11/04/22 | 09/30/22 | 10-Q | |
08/04/22 | 06/30/22 | 10-Q | |
05/06/22 | 03/31/22 | 10-Q | |
02/18/22 | 12/31/21 | 10-K | |
11/02/21 | 09/30/21 | 10-Q | |
08/02/21 | 06/30/21 | 10-Q | |
05/07/21 | 03/31/21 | 10-Q | |
02/19/21 | 12/31/20 | 10-K | |
11/04/20 | 09/30/20 | 10-Q | |
08/04/20 | 06/30/20 | 10-Q | |
05/08/20 | 03/31/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
11/06/19 | 09/30/19 | 10-Q | |
08/05/19 | 06/30/19 | 10-Q | |
05/03/19 | 03/31/19 | 10-Q | |
02/27/19 | 12/31/18 | 10-K | |
11/07/18 | 09/30/18 | 10-Q | |
08/07/18 | 06/30/18 | 10-Q | |
05/04/18 | 03/31/18 | 10-Q | |
02/16/18 | 12/31/17 | 10-K | |
11/07/17 | 09/30/17 | 10-Q | |
08/07/17 | 06/30/17 | 10-Q | |
05/05/17 | 03/31/17 | 10-Q | |
02/17/17 | 12/31/16 | 10-K | |
11/07/16 | 09/30/16 | 10-Q | |
08/05/16 | 06/30/16 | 10-Q | |
05/06/16 | 03/31/16 | 10-Q | |
02/19/16 | 12/31/15 | 10-K | |
11/06/15 | 09/30/15 | 10-Q | |
08/07/15 | 06/30/15 | 10-Q | |
05/08/15 | 03/31/15 | 10-Q | |
02/20/15 | 12/31/14 | 10-K | |
11/07/14 | 09/30/14 | 10-Q | |
08/07/14 | 06/30/14 | 10-Q | |
05/09/14 | 03/31/14 | 10-Q | |
02/21/14 | 12/31/13 | 10-K | |
11/12/13 | 09/30/13 | 10-Q | |
08/09/13 | 06/30/13 | 10-Q | |
05/08/13 | 03/31/13 | 10-Q | |
03/15/13 | 12/31/12 | 10-K | |
12/19/12 | 09/30/12 | S-1/A | |
10/23/12 | 06/30/12 | 10-12B/A | |
08/07/12 | 03/31/12 | 10-12B/A | |
12/19/12 | 12/31/11 | S-1/A | |
09/30/11 | 09/30/11 | Unknown | -- |
06/30/11 | 06/30/11 | Unknown | -- |
08/07/12 | 03/31/11 | 10-12B/A |