AbbVie
ABBV on NYSE. AbbVie sells prescription medicines to patients, doctors and hospitals. Market value $469.6bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Recent profit includes a big one-time charge, so we price the company excluding that charge.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Health care stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.88 of spare cash in the past 12 months. A savings account pays about $4.
You pay 24.4 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 18 cents a year. Above 10 is good.
Quality score: 80 of 100. Price score: 43 of 100. Our list needs 70 on quality and 60 on price.
$265.76 a share, 39% above its 1-year low
Over the past year the price has ranged from $190.75 to $269.39.
Dividend: 2.5% a year
Paid every year for at least 5 years
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $56.2bn | $58.1bn | $54.3bn | $56.3bn | $61.2bn |
| Operating margin | |||||
| Operating margin | 31.9% | 31.2% | 23.5% | 16.2% | 24.6% |
| Debt to equity | |||||
| Debt to equity | 4.98 | 3.67 | 5.73 | 20.19 | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.77bn | 1.77bn | 1.77bn | 1.77bn | 1.77bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)8 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsSlow, 6.0% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $17 billion last quarter, up 10% on a year ago.
- Profit: $3.6 billion, up 285% on a year ago.
- It keeps 26 cents of each $1 of sales as operating profit, up from 19 cents a year earlier.
- Spare cash over the past 12 months: $18.2 billion, about the same as a year earlier.
- About the same number of shares as a year ago.
- Debt is $64.3 billion more than cash, up from $64 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $14.5bn |
| December 2024 | $15.1bn |
| March 2025 | $13.3bn |
| June 2025 | $15.4bn |
| September 2025 | $15.8bn |
| December 2025 | $16.6bn |
| March 2026 | $15.0bn |
| June 2026 | $17.0bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $1.6bn |
| December 2024 | -$22m |
| March 2025 | $1.3bn |
| June 2025 | $938m |
| September 2025 | $186m |
| December 2025 | $1.8bn |
| March 2026 | $695m |
| June 2026 | $3.6bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 29 October 2026
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 2 November 2026
Who owns it
25 long-term investors we follow own it, up from 23 last quarter. 4,211 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $150m
- Share of fund
- 0.4%
- Letko BrosseauLetko Brosseau team
- Value
- $68m
- Share of fund
- 1.0%
- Bruce & Co.R. Jeffrey Bruce
- Value
- $30m
- Share of fund
- 8.2%
- Aristotle Capital ManagementHoward Gleicher
- Value
- $16m
- Share of fund
- <0.1%
- Mairs & PowerAndy Adams
- Value
- $11m
- Share of fund
- 0.1%
- Matrix Asset AdvisorsDavid Katz
- Value
- $10m
- Share of fund
- 0.8%
- Auxier Asset ManagementJeff Auxier
- Value
- $8m
- Share of fund
- 1.0%
- Platinum Investment ManagementPlatinum team
- Value
- $8m
- Share of fund
- 1.9%
- Horizon KineticsMurray Stahl
- Value
- $5m
- Share of fund
- <0.1%
- Gardner Russo & QuinnTom Russo
- Value
- $3m
- Share of fund
- <0.1%
- Jensen Investment ManagementEric Schoenstein
- Value
- $3m
- Share of fund
- <0.1%
- Dodge & CoxDodge & Cox investment committee
- Value
- $3m
- Share of fund
- <0.1%
- Fenimore Asset Management (FAM Funds)John Fox
- Value
- $2m
- Share of fund
- <0.1%
Largest holders overall
- BlackRock$37.6bn
- Vanguard Capital Management$29.0bn
- Banque Cantonale Vaudoise$22.5bnCut
- State Street$20.8bn
- Vanguard Portfolio Management$12.2bnCut
- JPMorgan Chase$12.2bnCut
- Geode Capital Management$11.8bn
- Morgan Stanley$9.8bnAdded
- Capital Research Global Investors$7.6bnCut
- Norges Bank$6.4bnNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Vanguard Capital ManagementPassive investor7.5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 3 sold $19m, $10m of it under preset trading plans.
- Donoghoe NicholasEVP, CHIEF BUS/STRAT OFFICERSold
- Date
- 14 August 2026
- Shares
- 32,710
- Price
- $250.00
- Value
- $8m
- Purdue David RyanSVP, ControllerSold
- Date
- 4 March 2026
- Shares
- 5,230
- Price
- $233.56
- Value
- $1m
- Siatis Perry CEVP, GC AND SECRETARYSoldunder a preset trading plan
- Date
- 2 March 2026
- Shares
- 18,668
- Price
- $234.39
- Value
- $4m
- Siatis Perry CEVP, GC AND SECRETARYSoldunder a preset trading plan
- Date
- 25 February 2026
- Shares
- 22,381
- Price
- $230.00
- Value
- $5m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 14 August 2026 | Donoghoe Nicholas EVP, CHIEF BUS/STRAT OFFICER | Sold | 32,710 | $250.00 | $8m |
| 4 March 2026 | Purdue David Ryan SVP, Controller | Sold | 5,230 | $233.56 | $1m |
| 2 March 2026 | Siatis Perry C EVP, GC AND SECRETARY | Sold under a preset trading plan | 18,668 | $234.39 | $4m |
| 25 February 2026 | Siatis Perry C EVP, GC AND SECRETARY | Sold under a preset trading plan | 22,381 | $230.00 | $5m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Feb 2026, plus the 10-Q filed 3 Aug 2026 and 11 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.