At a glance
Abbott Laboratories is worth $190.62B, about 30 times its fiscal 2025 earnings. Revenue grew 5.7% to $44.33B in fiscal 2025, with 14.7% kept as profit; over 5 years it has grown 5.1% a year. It pays a 2.29% dividend yield, raised every year for at least 9 years, and returned $27.53B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −8.7% over the past year with dividends reinvested and −1.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 29.7% in the 2020 crash (S&P 500: 33.7%) and 29.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high within a month and 28 months after the lows.
The business in plain English
Abbott Laboratories, an Illinois company incorporated in 1900, makes and sells healthcare products through four segments. Medical Devices is the largest: $21.4 billion, or 48.2% of the $44.3 billion in revenue for fiscal 2025 (the year ended December 31, 2025). It includes FreeStyle Libre wearable glucose sensors for people with diabetes, pacemakers, catheters that treat irregular heartbeats, MitraClip and other heart-valve devices, coronary stents, and spinal cord stimulators for chronic pain. Buyers range from hospitals and surgery centers to distributors and, for some products, consumers.
Diagnostics (20.2% of revenue) sells lab instruments such as Alinity and ARCHITECT, i-STAT systems for bedside blood testing, and BinaxNOW and ID NOW rapid tests to hospitals, labs, blood banks and clinics. Nutritionals (19.1%) includes Similac infant formula, Ensure, Glucerna, PediaSure and Pedialyte, sold to consumers, retailers and healthcare facilities. Established Pharmaceuticals (12.5%) sells branded generics, which are off-patent medicines sold under brand names such as Creon and Duphaston, in emerging markets outside the US.
The United States supplied 38.6% of fiscal 2025 revenue, so most sales came from abroad. Germany (6.2%), China (4.3%), and Switzerland and India (4.2% each) were the largest named foreign markets. In November 2025, Abbott agreed to buy Exact Sciences to enter cancer diagnostics. As of its February 2026 annual report, the deal still needed shareholder and regulatory approval.
Price history
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ABT -8.7% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Medical Devices | $21.39B | 48.2% |
| Diagnostics | $8.94B | 20.2% |
| Nutritionals | $8.45B | 19.1% |
| Established Pharmaceuticals | $5.54B | 12.5% |
By geography
| United States | $17.13B | 38.6% |
| All Other Countries | $15.98B | 36% |
| Germany | $2.76B | 6.2% |
| China | $1.91B | 4.3% |
| Switzerland | $1.87B | 4.2% |
| India | $1.87B | 4.2% |
| Japan | $1.48B | 3.3% |
| United Kingdom | $1.34B | 3% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $12.59B, up 13% from a year earlier, and net income was $928.0M (-47.8%).
- For fiscal 2025, revenue was $44.33B (+5.7% year over year; +5.1% a year from FY2020 to FY2025) with a 14.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +5.1% good |
|---|---|
| Operating margin | 18.2% good |
| Free cash flow margin | 16.7% good |
| Return on equity (FY2025) | 12.5% watch |
| Return on assets (FY2025) | 7.5% watch |
| Net cash (cash minus debt) | $-25.89B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $34.61B | $4.50B | $5.72B |
| FY2021 | $43.08B | $7.07B | $8.65B |
| FY2022 | $43.65B | $6.93B | $7.80B |
| FY2023 | $40.11B | $5.72B | $5.06B |
| FY2024 | $41.95B | $13.40B | $6.35B |
| FY2025 | $44.33B | $6.52B | $7.39B |
Valuation snapshot
| Market value | $190.62B |
|---|---|
| P/E ratio | 29.6 |
| Dividend yield | 2.29% |
Rank among 1514 US companies
Market value at each year end
Abbott Laboratories’s market value went from $56.55B at the end of 2016 to $190.62B on Nov 2, 2026, about 3.4 times as much; since the end of 2025 it is down 13%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $190.62B | -12.5% |
| 2025 | $217.86B | +11.1% |
| 2024 | $196.18B | +2.7% |
| 2023 | $191.09B | -0.2% |
| 2022 | $191.43B | -23.1% |
| 2021 | $248.87B | +28.2% |
| 2020 | $194.06B | +26.3% |
| 2019 | $153.61B | +20.9% |
| 2018 | $127.04B | +27.9% |
| 2017 | $99.34B | +75.7% |
| 2016 | $56.55B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ABT price data to Nov 2, 2026 | -9.9% | -8.7% | +6.9% | -1.0% | +13.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -9.9% |
| 2025 | +12.9% |
| 2024 | +4.8% |
| 2023 | +2.3% |
| 2022 | -20.7% |
| 2021 | +30.5% |
| 2020 | +28.0% |
| 2019 | +22.1% |
| 2018 | +29.0% |
| 2017 | +52.1% |
| 2016 | -12.3% |
| 2015 | +1.9% |
| 2014 | +20.1% |
| 2013 | +23.8% |
| 2012 | +20.3% |
| 2011 | +21.8% |
| 2010 | -8.3% |
| 2009 | +4.5% |
| 2008 | -2.5% |
| 2007 | +18.1% |
| 2006 | +25.1% |
| 2005 | -14.5% |
| 2004 | +8.3% |
| 2003 | +17.8% |
| 2002 | -27.5% |
| 2001 | +16.0% |
| 2000 | +34.5% |
| 1999 | -25.4% |
| 1998 | +50.7% |
| 1997 | +30.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 11.6% over that stretch · deepest drop along the way 22.3%, back to its old high 31.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 29.7% over that stretch · deepest drop along the way 29.7%, back to its old high 0.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 27.2% over that stretch · deepest drop along the way 29.6%, back to its old high 28.2 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 2 open-market purchases ($1.1M) and 4 sales ($46.9M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Aug 25, 2026 | Robert B Ford CHAIRMAN AND CEO, Director | sell | $25.3M |
| Aug 25, 2026 | Robert B Ford CHAIRMAN AND CEO, Director | sell | $20.9M |
| Apr 27, 2026 | Daniel J Starks Director | buy | $927K |
| Aug 11, 2026 | Louis H. Morrone EXECUTIVE VICE PRESIDENT | sell | $643K |
| May 7, 2026 | John G Stratton Director | buy | $174K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 7.5% | Mar 31, 2026 |
ETFs with the most weight in ABT
| IHI iShares U.S. Medical Devices ETF | 19.58% |
| GDOC Future Health Care Equity ETF | 5.4% |
| PJP Invesco Pharmaceuticals ETF | 5.28% |
| CWS AdvisorShares Focused Equity ETF | 4.77% |
| QLTY GMO US Quality ETF Shs | 4.51% |
| XLV Health Care Select Sector SPDR Fund | 4.36% |
| IYH iShares U.S. Healthcare ETF | 4.33% |
| FHLC Fidelity MSCI Health Care Index ETF | 3.9% |
What could go wrong
- Exact Sciences deal adds debt and risk. Buying Exact Sciences adds debt, which Abbott warns could reduce its flexibility. Total debt was $32.6 billion against $6.7 billion of cash as of June 30, 2026. Integration could also disappoint.
- Complex manufacturing and supply chain. Abbott says making many of its products is a highly exacting, complex process. A problem at one of its own plants or at a supplier's could interrupt supply and hurt sales.
- Safety problems with key products. Abbott sells implanted heart devices, glucose sensors and infant formula. Serious safety concerns about any product could hurt sales and Abbott's finances, for example through recalls or lost customer trust.
- Rivals' new products and fast obsolescence. Abbott says some devices and diagnostic tests can become obsolete quickly. Its technology lead may shrink as competitors launch new products, and generic copies add pressure on its branded medicines.
- Government cost controls and price pressure. Governments and insurers push to hold down healthcare costs. Changes to rules or benefit programs could cut demand for Abbott's products or their prices. Complying with extensive regulation is also costly.
- Currency swings and foreign economies. Only 38.6% of fiscal 2025 revenue came from the US. Abbott says currency swings have hurt its reported results before, and economic or credit trouble in certain countries could reduce sales and earnings.
Recent events
- Other company announcement
- Quarterly results released
- Investor presentation or announcement; Other company announcement
- Quarterly results released
- Executive or board change; Bylaws or fiscal year changed; Shareholder vote results
- Other company announcement
- Quarterly results released
- Other company announcement
- Major agreement signed; New debt or financial obligation
- Major agreement signed
For income and retirement investors
Abbott's SEC filings show at least 9 straight annual dividend increases through fiscal 2025, and the true streak may be longer. Dividends per share grew from about $1.43 in 2020 to $2.40 in 2025, roughly 10.9% a year. In 2025, dividends took about 63% of net income and 56% of free cash flow (cash left after paying for operations and equipment). The yield was 2.37% as of October 30, 2026. Buybacks totaled $9.5 billion over fiscal 2021–2025, but the share count fell only 2.1% from September 2021 to June 2026.
The shares have fallen sharply in past downturns: 22.3% in the 2008 financial crisis (about 32 months to recover), 29.7% in the 2020 COVID crash (back within a month) and 29.6% in the 2022 bear market (about 28 months). In the 12 months to October 30, 2026, the largest drop from a peak was 36.1%. As with any single stock, Abbott carries more risk than a diversified fund.
Questions investors ask
How does Abbott Laboratories make money?
Abbott makes money by selling healthcare products through four segments. In fiscal 2025, the Medical Devices segment, which includes FreeStyle Libre glucose sensors, pacemakers and heart-valve devices, brought in 48.2% of its $44.3 billion revenue. Diagnostics, including Alinity lab systems and BinaxNOW rapid tests, added 20.2%. Nutritionals, such as Similac and Ensure, contributed 19.1%. Branded generic medicines (off-patent drugs sold under brand names) in emerging markets made up the other 12.5%.
Does Abbott raise its dividend every year?
Yes, as far as its SEC filings show. Abbott's dividend per share rose for at least 9 consecutive years through fiscal 2025, and the true streak may be longer. It went from about $1.43 in 2020 to $2.40 in 2025, an average gain of roughly 10.9% a year. Past increases do not guarantee future ones.
What is Abbott's dividend yield and payout ratio?
Abbott's dividend yield was 2.37% as of October 30, 2026. In fiscal 2025, dividends paid equaled about 63% of net income and about 56% of free cash flow, which is the cash left after operating costs and capital spending. So both earnings and free cash flow covered the payout that year. Abbott paid $4.1 billion in dividends in 2025, up from $2.6 billion in 2020.
How has Abbott stock performed over the long term?
Abbott has done well over 10 years but poorly over five. As of October 30, 2026, the stock returned about 12.5% a year over 10 years, or 224% in total. It lost about 1.9% a year over five years and 12.7% over one year. The shares were down 13.2% for 2026 through October 30, after gaining 12.9% in 2025 and falling 20.7% in 2022. On that date, the price was 28.5 times fiscal 2025 earnings.
Why is Abbott buying Exact Sciences?
Abbott says the deal is meant to take it into the cancer diagnostics market. Abbott agreed on November 19, 2025, to acquire Exact Sciences. In its annual report filed February 20, 2026, Abbott said the deal still needed approval from Exact Sciences shareholders and regulators. It also warned that the extra debt it will take on could reduce its business flexibility. Abbott's total debt was $32.6 billion, against $6.7 billion of cash and investments, as of June 30, 2026.