At a glance
AbbVie Inc is worth $510.41B, about 122 times its fiscal 2025 earnings. Revenue grew 8.6% to $61.16B in fiscal 2025, with 6.9% kept as profit; over 5 years it has grown 6.0% a year. It pays a 2.4% dividend yield, raised every year for at least 9 years, and returned $59.61B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +36.4% over the past year with dividends reinvested and +24.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 32.1% in the 2020 crash (S&P 500: 33.7%) and 21.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 15 months after the lows.
The business in plain English
AbbVie is a drug company that discovers, makes and markets prescription medicines, plus aesthetic treatments. It split from Abbott Laboratories to become an independent public company on January 1, 2013. AbbVie reports as one business segment, but its products fall into four areas: immunology, neuroscience, oncology (cancer) and aesthetics. Patents shield its brands from cheaper copies for a period, which the company says is important to the profitability of many products.
Immunology drives the business. Skyrizi, an injected biologic (a drug made from living cells), and Rinvoq, a once-daily pill, treat autoimmune conditions such as psoriasis, rheumatoid arthritis, Crohn's disease and ulcerative colitis. Together they brought in about 42% of total net revenue in 2025. The group also includes Humira. Neuroscience includes Vraylar for schizophrenia and bipolar disorder, Botox Therapeutic for chronic migraine and other conditions, and the migraine drugs Ubrelvy and Qulipta. Cancer drugs include Imbruvica and Venclexta for blood cancers. Aesthetics includes Botox Cosmetic and Juvederm fillers.
The United States supplied $46.6 billion of AbbVie's $61.2 billion in 2025 revenue, or 76.2%. Germany was the largest single foreign market at 2.8%, followed by Japan (2.1%) and Canada (2.0%). In the US, wholesale distributors deliver its drugs, while insurers and pharmacy benefit managers (middlemen that run drug plans) heavily influence prices and patient access.
Price history
The interactive chart needs JavaScript.
ABBV +36.4% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| United States | $46.60B | 76.2% |
| All other countries | $5.76B | 9.4% |
| Germany | $1.74B | 2.8% |
| Japan | $1.27B | 2.1% |
| Canada | $1.22B | 2% |
| China | $1.01B | 1.6% |
| France | $806.0M | 1.3% |
| United Kingdom | $626.0M | 1% |
| Spain | $609.0M | 1% |
| Italy | $580.0M | 0.9% |
| Brazil | $478.0M | 0.8% |
| Australia | $459.0M | 0.8% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $16.99B, up 10.2% from a year earlier, and net income was $3.61B (+285.2%).
- For fiscal 2025, revenue was $61.16B (+8.6% year over year; +6.0% a year from FY2020 to FY2025) with a 6.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +6.0% good |
|---|---|
| Operating margin | 24.6% good |
| Free cash flow margin | 29.1% good |
| Return on assets (FY2025) | 3.2% watch |
| Net cash (cash minus debt) | $-63.99B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $45.80B | $4.62B | $16.79B |
| FY2021 | $56.20B | $11.54B | $21.99B |
| FY2022 | $58.05B | $11.84B | $24.25B |
| FY2023 | $54.32B | $4.86B | $22.06B |
| FY2024 | $56.33B | $4.28B | $17.83B |
| FY2025 | $61.16B | $4.23B | $17.82B |
Valuation snapshot
| Market value | $510.41B |
|---|---|
| P/E ratio | 122.4 |
| Dividend yield | 2.4% |
Rank among 1514 US companies
Market value at each year end
AbbVie’s market value went from $101.76B at the end of 2016 to $510.41B on Nov 2, 2026, about 5.0 times as much; since the end of 2025 it is up 26%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $510.41B | +26.4% |
| 2025 | $403.83B | +28.6% |
| 2024 | $314.02B | +14.8% |
| 2023 | $273.61B | -4.3% |
| 2022 | $285.80B | +19.4% |
| 2021 | $239.37B | +26.5% |
| 2020 | $189.17B | +44.5% |
| 2019 | $130.93B | -5.6% |
| 2018 | $138.67B | -10.2% |
| 2017 | $154.39B | +51.7% |
| 2016 | $101.76B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ABBV price data to Nov 2, 2026 | +30.2% | +36.4% | +30.6% | +24.3% | +22.6% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +30.2% |
| 2025 | +33.1% |
| 2024 | +18.9% |
| 2023 | -0.2% |
| 2022 | +24.0% |
| 2021 | +32.4% |
| 2020 | +27.6% |
| 2019 | +1.5% |
| 2018 | -1.0% |
| 2017 | +60.1% |
| 2016 | +9.9% |
| 2015 | -6.5% |
| 2014 | +28.0% |
| 2013 | +60.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.5% over that stretch · deepest drop along the way 32.1%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 6.4% over that stretch · deepest drop along the way 21.9%, back to its old high 15.3 months after the low |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 5 sales ($13.8M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 14, 2026 | Nicholas Donoghoe EVP, CHIEF BUS/STRAT OFFICER | sell | $8.2M |
| Mar 2, 2026 | Perry C Siatis EVP, GC AND SECRETARY | sell (plan) | $2.4M |
| Mar 2, 2026 | Perry C Siatis EVP, GC AND SECRETARY | sell (plan) | $1.3M |
| Mar 4, 2026 | David Ryan Purdue SVP, Controller | sell | $1.2M |
| Mar 2, 2026 | Perry C Siatis EVP, GC AND SECRETARY | sell (plan) | $612K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.51% | Mar 31, 2026 |
ETFs with the most weight in ABBV
| MEDX Horizon Kinetics Medical ETF | 9.37% |
| FDL First Trust Morningstar Dividend Leaders Index Fund | 7.5% |
| FTXH First Trust Nasdaq Pharmaceuticals ETF | 7.25% |
| IYH iShares U.S. Healthcare ETF | 6.29% |
| PPH VanEck Pharmaceutical ETF | 6.28% |
| XLV Health Care Select Sector SPDR Fund | 6.27% |
| GDOC Future Health Care Equity ETF | 5.91% |
| FHLC Fidelity MSCI Health Care Index ETF | 5.63% |
What could go wrong
- Two drugs bring in 42% of revenue. Skyrizi and Rinvoq together made up about 42% of total net revenue in 2025. A safety problem, stronger rival or early patent loss for either could cut sales and profits sharply.
- Patent loss and cheaper biosimilar copies. Once patents end, generics or biosimilars (near-copies of biologic drugs) can take sales quickly. Rivals also challenge AbbVie's patents in court and at the US patent office, so protection could end earlier than expected.
- Pressure on US drug prices. About 76% of 2025 revenue came from the US, where government programs, insurers and pharmacy benefit managers (drug-plan middlemen) push for lower prices and bigger rebates. New laws on government benefit programs could add limits.
- Rival drugs and pipeline setbacks. Competitors' new medicines could take market share, and AbbVie's research may fail to produce marketable products. Part of its near-term pipeline relies on partner companies, adding risk to development and sales.
- Complex biologic manufacturing and single suppliers. Biologics such as Skyrizi and Humira are hard to make and need strict environmental controls. Some raw materials come from single suppliers, so a plant problem or supply break could disrupt sales.
- Heavy debt and no dividend guarantee. As of June 30, 2026, AbbVie owed about $70.8 billion against $6.8 billion of cash and investments. That debt could limit flexibility, and AbbVie says it cannot guarantee the timing or amount of future dividends.
Recent events
- Executive or board change
- Quarterly results released
- Executive or board change
- Quarterly results released
- Investor presentation or announcement
- Other company announcement
- Other company announcement
- Quarterly results released
- Quarterly results released
- Investor presentation or announcement
For income and retirement investors
AbbVie's SEC filings for fiscal 2016 through 2025 show at least 9 consecutive annual dividend increases, and the true streak may be longer. Dividends per share rose from $4.84 in 2020 to $6.65 in 2025, about 6.6% a year, and the dividend yield was 2.35% as of October 30, 2026. The $11.7 billion paid in 2025 equaled 275.8% of net income but 65.4% of free cash flow (cash left after operating costs and capital spending), so cash, not reported profit, covered it. Buybacks were small: $7.1 billion over fiscal 2021–2025, against $52.5 billion in dividends, and the share count barely changed.
AbbVie's shares fell 32.1% in the 2020 COVID crash but recovered within about 2.4 months. In the 2022 bear market they rose 6.4% between the market's peak and low, though they dropped 21.9% from April to September 2022 and took about 15 months to recover. Single stocks carry more risk than diversified funds.
Questions investors ask
How does AbbVie make money?
AbbVie makes money mainly from prescription drugs, plus aesthetic treatments such as Botox Cosmetic and Juvederm fillers. Its two biggest products, Skyrizi and Rinvoq, treat autoimmune conditions like psoriasis, rheumatoid arthritis and Crohn's disease. Together they brought in about 42% of total net revenue in 2025. Other brands include Humira, Vraylar for schizophrenia and bipolar disorder, Botox Therapeutic, and the blood-cancer drugs Imbruvica and Venclexta. Revenue was $61.2 billion in 2025, and 76.2% came from the United States.
Does AbbVie raise its dividend every year?
Yes, for at least nine years in a row. AbbVie's SEC filings for fiscal 2016 through 2025 show an increase every year, and the true streak may be longer. Dividends per share climbed from $4.84 in 2020 to $6.65 in 2025, about 6.6% a year, and AbbVie paid $52.5 billion in dividends over fiscal 2021–2025. The dividend yield (a year's dividends as a share of the stock price) was 2.35% as of October 30, 2026.
Is AbbVie's dividend safe?
There is no guarantee, but in 2025 the dividend was covered by cash flow rather than by reported profit. AbbVie paid $11.7 billion in dividends, equal to 65.4% of free cash flow (cash left after running and investing in the business) but 275.8% of net income. Debt adds pressure: AbbVie owed about $70.8 billion against $6.8 billion of cash and investments as of June 30, 2026. Its 10-K says it cannot guarantee future dividend payments.
Why is AbbVie's P/E ratio so high?
Because AbbVie's reported earnings were small compared with its share price. The P/E ratio (share price divided by a year's earnings per share) was about 125 as of October 30, 2026, using 2025 diluted earnings of $2.36 a share, down from $6.63 in 2022. Cash flow was much higher: free cash flow was $17.8 billion in 2025, against net income of $4.2 billion. Net income for the quarter ended June 30, 2026, was $3.6 billion, up 285.2% from a year earlier.
How has AbbVie stock performed over the long term?
AbbVie's stock has risen a lot over the long run, with deep drops along the way. As of October 30, 2026, it returned about 25.2% a year over five years and 22.6% a year over ten years. Its largest peak-to-trough fall since it began trading as an independent company in 2013 was 45.1%. In the 2020 COVID crash it fell 32.1% and recovered in about 2.4 months. Past returns do not guarantee future results.