Abbott Laboratories

ABT on NYSE. Abbott sells healthcare products to wholesalers, pharmacies, hospitals, and government agencies. Market value $173.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Good business, but not cheap right now

See cheaper Health care stocks on the list

This is not advice. Check the numbers below.

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Cash yield
past 12 months to June 2026
4.6%fair

For every $100 of what the whole company costs, it produced $4.61 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
26.9×full

You pay 26.9 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
11.3%five-year median

Each dollar kept in the business earns 11 cents a year. Above 10 is good.

Quality score: 95 of 100. Price score: 49 of 100. Our list needs 70 on quality and 60 on price.

$98.16 a share, 20% above its 1-year low

Over the past year the price has ranged from $81.97 to $135.13.

Expected to report results Wednesday 14 Oct, before the market opens.

Dividend: 2.4% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

8.6
7.8
5.1
6.4
7.4
7.8
2021202220232024202512 monthsto Jun '26
Revenue
$43.1bn$43.7bn$40.1bn$42.0bn$44.3bn
Operating margin
19.6%19.2%16.2%16.3%18.2%
Debt to equity
0.500.460.380.300.25
Shares outstanding
1.74bn1.74bn1.73bn1.74bn1.74bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)6 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt0.25× equity
  • Revenue growth, five yearsSlow, 5.1% 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: $12.6 billion last quarter, up 13% on a year ago.
  • Profit: $928 million, down 48% on a year ago.
  • It keeps 16 cents of each $1 of sales as operating profit, down from 17 cents a year earlier.
  • Spare cash over the past 12 months: $7.8 billion, up from $6.8 billion.
  • About the same number of shares as a year ago.
  • Debt is $27.5 billion more than cash, up from $6.5 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$10.6bn
December 2024$11.0bn
March 2025$10.4bn
June 2025$11.1bn
September 2025$11.4bn
December 2025$11.5bn
March 2026$11.2bn
June 2026$12.6bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$1.6bn
December 2024$9.2bn
March 2025$1.3bn
June 2025$1.8bn
September 2025$1.6bn
December 2025$1.8bn
March 2026$1.1bn
June 2026$928m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
14 October 2026
Last annual report (10-K)
20 February 2026
Next quarterly (estimated, 10-Q)
27 October 2026

Who owns it

24 long-term investors we follow own it, up from 21 last quarter. 2,966 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $4m of shares on the open market. 7 sold $48m.

  • MCCOY JOHN A. JR.
    VICE PRESIDENT AND CONTROLLER
    Sold
    Date
    2 September 2026
    Shares
    27
    Price
    $109.54
    Value
    $2,958
  • Ford Robert B
    CHAIRMAN AND CEO, Director
    Sold
    Date
    25 August 2026
    Shares
    398,832
    Price
    $115.85
    Value
    $46m
  • Morrone Louis H.
    EXECUTIVE VICE PRESIDENT
    Sold
    Date
    11 August 2026
    Shares
    5,850
    Price
    $109.83
    Value
    $642,506
  • Stratton John G
    Director
    Bought
    Date
    7 May 2026
    Shares
    2,000
    Price
    $86.82
    Value
    $173,640
  • STARKS DANIEL J
    Director
    Bought
    Date
    27 April 2026
    Shares
    10,000
    Price
    $92.65
    Value
    $926,500
  • Boudreau Philip P
    EVP AND CFO
    Bought
    Date
    23 April 2026
    Shares
    2,200
    Price
    $91.50
    Value
    $201,300
  • Cushman Elizabeth C.
    EVP, GC AND SECRETARY
    Sold
    Date
    2 March 2026
    Shares
    263
    Price
    $115.58
    Value
    $30,398
  • Shroff Eric
    Senior Vice President
    Sold
    Date
    2 March 2026
    Shares
    709
    Price
    $115.58
    Value
    $81,946
  • Morrone Louis H.
    EXECUTIVE VICE PRESIDENT
    Sold
    Date
    2 March 2026
    Shares
    1,144
    Price
    $115.58
    Value
    $132,224
  • Moreland Mary K
    EXECUTIVE VICE PRESIDENT
    Sold
    Date
    2 March 2026
    Shares
    613
    Price
    $115.58
    Value
    $70,851

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 28 Jul 2026 and 8 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 isn't cheap on profits: 26.9× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • Changes in geopolitical and macroeconomic conditions could negatively affect Abbott’s business, financial condition, and results of operations .

    For example, the global economy has been impacted by geopolitical tensions focused on trade, which has increased uncertainty for global businesses such as Abbott. The U.S. government has imposed tariffs on imports into the U.S., and it may impose additional tariffs in the future. Some countries may retaliate with trade protection measures, including reciprocal tariffs. These tariffs or other trade protection measures could have a negative impact on macroeconomic conditions, including inflation rates, foreign currency exchange rates, and interest rates, as well as causing potential disruptions to Abbott’s global supply chain, which could adversely affect its business. Additionally, the ongoing Russia-Ukraine conflict has resulted in sanctions, economic and currency volatility, higher inflation, heightened cybersecurity risks, and operational and supply chain disruptions. To date, Abbott has been able to manage these disruptions without material impact to its results of operations. However, it is difficult to predict the future implications and consequences of the conflict on local, regional, or global economies and Abbott’s operations
    Read more

Read it in the annual report

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

It just passed both our tests. The deep dive checks what the numbers can't.

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What a finished deep dive looks like

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.