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AbbVie
(NYSE:ABBV)
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Rating:65Neutral
Price Target:
$276.00
â–²(3.84% Upside)
Action:Reiterated
Date:09/06/26
ABBV’s score is driven by strong cash generation and improving operating momentum, reinforced by a positive earnings call with raised guidance and continued strength in key growth franchises. The biggest constraints are balance-sheet leverage/negative equity and a demanding valuation (high P/E), while technical signals are broadly neutral-to-mildly positive.
Positive Factors
Immunology growth
Rapid growth in SKYRIZI and RINVOQ is shifting AbbVie toward newer immunology franchises with continued market-share gains expected. This supports durable revenue expansion and helps offset erosion from older products over the next several quarters.
Negative Factors
High leverage
Heavy debt and negative equity make AbbVie’s capital structure less resilient and reduce flexibility during operating setbacks. Financing costs can absorb more cash, while the company may need multiple years of cash generation to materially improve debt coverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Immunology growth
Rapid growth in SKYRIZI and RINVOQ is shifting AbbVie toward newer immunology franchises with continued market-share gains expected. This supports durable revenue expansion and helps offset erosion from older products over the next several quarters.
Read all positive factors
AbbVie Key Performance Indicators (KPIs)
Any
Revenue by Geography
Illustrates where AbbVie generates cash around the world and which regions drive growth or volatility. Geographic trends can flag where pricing pressure, local competition, or launch success will meaningfully affect total revenue and help assess the company’s ability to offset declines in one market with gains in another.
Illustrates where AbbVie generates cash around the world and which regions drive growth or volatility. Geographic trends can flag where pricing pressure, local competition, or launch success will meaningfully affect total revenue and help assess the company’s ability to offset declines in one market with gains in another.
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The Fly
The FlyAbbVie (ABBV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$453.19B
Dividend Yield2.66%
Average Volume (3M)4.90M
Price to Earnings (P/E)72.2
Beta (1Y)0.07
Revenue Growth10.39%
EPS Growth68.16%
CountryUS
Employees57,000
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)3.55
Shares Outstanding1,767,117,300
10 Day Avg. Volume3,876,946
30 Day Avg. Volume4,898,986
Financial Highlights & Ratios
PEG Ratio-77.13
Price to Book (P/B)-123.96
Price to Sales (P/S)6.63
P/FCF Ratio22.75
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$280.38Price Target Upside5.49% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering23
EPS Forecast (FY)14.03
Revenue Forecast (FY)$67.61B
AbbVie Business Overview & Revenue Model
Company Description
AbbVie Inc. is a global biopharmaceutical company dedicated to the discovery, development, manufacturing, and commercialization of advanced medicines. Its extensive therapeutic portfolio encompasses several key areas: Immunology and Inflammation: ...
How the Company Makes Money
AbbVie makes money primarily by selling branded prescription drugs and related products, recognizing revenue when product control transfers to customers (e.g., wholesalers, specialty pharmacies, hospitals, government channels, and certain large pr...
AbbVie Earnings Call Summary
Earnings Call Date:Jul 31, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 23, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum: above‑consensus results, double‑digit growth across key franchises (notably SKYRIZI and RINVOQ), multiple regulatory approvals, raised guidance, and a broadened pipeline via the Apogee deal. These positives are tempered by expected declines in legacy products (HUMIRA, IMBRUVICA), modest softness in some aesthetics lines, acquisition‑related dilution and IPR&D expense, and higher interest costs and FX headwinds. On balance the company presented durable growth drivers and ample financial flexibility despite near‑term dilution and known legacy declines.Positive Updates
Earnings and Revenue Beat
Adjusted EPS of $3.65, $0.06 above guidance midpoint; total net revenues nearly $17.0 billion, beating expectations by ~$300 million and reflecting sales growth of 10.2% year-over-year.
Negative Updates
Legacy Product Declines—HUMIRA
HUMIRA global sales were $706 million, down 36.1% on an operational basis due to biosimilar competition (performance in line with expectations).
Read all updates
Q2-2026 Updates
Positive
Negative
Earnings and Revenue Beat
Adjusted EPS of $3.65, $0.06 above guidance midpoint; total net revenues nearly $17.0 billion, beating expectations by ~$300 million and reflecting sales growth of 10.2% year-over-year.
Read all positive updates
Company Guidance
AbbVie updated its 2026 outlook, raising full‑year net revenues to approximately $67.6 billion (up $300 million, assuming ~0.5% favorable FX) and increasing adjusted EPS guidance to $13.87–$14.07 (a $0.10 improvement in the existing business partly offset by ~$0.14 of expected Apogee dilution); Q3 guidance is net revenues of about $17.2 billion (≈0.4% FX headwind) and adjusted EPS $3.84–$3.88. Management also reiterated product assumptions including SKYRIZI global revenues of $21.7 billion (up $100 million) and total neuroscience revenues of $12.7 billion (up $100 million) with Vraylar ≈$4.1 billion and Botox Therapeutic ≈$4.2 billion. Full‑year operating metrics guidance includes adjusted gross margin above 84% of sales, adjusted R&D of ~ $9.8 billion (up $100 million for Apogee), adjusted SG&A ~ $14.5 billion, an adjusted operating margin ratio approaching 47% of sales, adjusted net interest expense ~ $2.9 billion (up $200 million), and a non‑GAAP tax rate of ~14.5%; Q2 actuals referenced were adjusted EPS $3.65 (beat midpoint by $0.06), nearly $17 billion revenue (10.2% growth), and adjusted gross margin 84.7%. The company expects the Apogee deal to close in Q3, has secured interim financing and plans long‑term debt issuance, targets ~2x net leverage within 2–3 years, and noted that guidance excludes any acquired IPR&D expense beyond Q2.AbbVie Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
34
Negative
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 64.39B | 61.16B | 56.33B | 54.32B | 58.05B | 56.20B |
| Gross Profit | 46.02B | 42.96B | 39.43B | 33.90B | 40.64B | 38.75B |
| EBITDA | 21.24B | 17.63B | 14.91B | 17.17B | 24.17B | 23.93B |
| Net Income | 6.31B | 4.23B | 4.28B | 4.86B | 11.84B | 11.54B |
Balance Sheet | ||||||
| Total Assets | 135.13B | 133.96B | 135.16B | 134.71B | 138.81B | 146.53B |
| Cash, Cash Equivalents and Short-Term Investments | 6.57B | 5.26B | 5.55B | 12.82B | 9.23B | 9.83B |
| Total Debt | 70.82B | 69.07B | 67.84B | 60.12B | 64.19B | 77.58B |
| Total Liabilities | 141.00B | 137.19B | 131.80B | 124.31B | 121.52B | 131.09B |
| Stockholders Equity | -5.93B | -3.27B | 3.33B | 10.36B | 17.25B | 15.41B |
Cash Flow | ||||||
| Free Cash Flow | 19.68B | 17.82B | 17.83B | 22.06B | 24.25B | 21.99B |
| Operating Cash Flow | 19.51B | 19.03B | 18.81B | 22.84B | 24.94B | 22.78B |
| Investing Cash Flow | -6.50B | -6.64B | -20.82B | -2.01B | -623.00M | -2.34B |
| Financing Cash Flow | -12.89B | -12.72B | -5.21B | -17.22B | -24.80B | -19.04B |
AbbVie Technical Analysis
Neutral
265.79
Price Trends
254.05
Positive
233.21
Positive
225.80
Positive
Market Momentum
2.39
Positive
50.34
Neutral
48.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ABBV, the sentiment is Neutral. The current price of 265.79 is above the 20-day moving average (MA) of 257.54, above the 50-day MA of 254.05, and above the 200-day MA of 225.80, indicating a neutral trend. The MACD of 2.39 indicates Positive momentum. The RSI at 50.34 is Neutral, neither overbought nor oversold. The STOCH value of 48.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ABBV.
AbbVie Risk Analysis
AbbVie disclosed 31 risk factors in its most recent earnings report. AbbVie reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AbbVie Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | $663.28B | 31.82 | 25.73% | 1.92% | 8.07% | -7.21% | |
75 Outperform | $236.38B | 26.96 | 89.32% | 2.27% | 9.89% | 31.69% | |
74 Outperform | $136.49B | 14.72 | 46.75% | 3.76% | 3.13% | 83.17% | |
66 Neutral | $162.16B | 37.59 | 4.89% | 6.05% | -0.21% | -59.71% | |
65 Neutral | $453.19B | 72.22 | -136.50% | 2.66% | 10.39% | 68.16% | |
62 Neutral | $370.89B | 119.32 | 6.60% | 2.24% | 4.51% | -80.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
ABBV
AbbVie
256.46
52.37
25.66%
AMGN
Amgen
437.23
164.82
60.50%
BMY
Bristol-Myers Squibb
66.82
21.75
48.27%
JNJ
Johnson & Johnson
275.23
102.17
59.04%
MRK
Merck & Company
150.33
68.46
83.62%
PFE
Pfizer
28.45
5.36
23.21%
AbbVie Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
AbbVie Closes Apogee Acquisition to Expand Immunology Portfolio
Positive
Sep 3, 2026
On Sept. 3, 2026, AbbVie completed its $10.9 billion acquisition of Apogee Therapeutics, adding late- and early-stage antibody programs targeting atopic dermatitis, asthma, COPD and other inflammatory diseases to its immunology franchise. Apogee&#...
M&A TransactionsPrivate Placements and Financing
AbbVie Raises $9 Billion Debt to Fund Acquisition
Positive
Aug 18, 2026
On August 18, 2026, AbbVie completed a multi-tranche underwritten public offering of unsecured senior notes totaling $9 billion, spanning floating rate notes due 2028 and fixed-rate notes maturing between 2028 and 2066. The notes rank equally with...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
AbbVie prices $9.9B senior notes to fund acquisition
Positive
Aug 5, 2026
On August 4, 2026, AbbVie entered into an underwriting agreement with a syndicate of major banks to issue and sell nine tranches of senior notes, including floating rate notes and fixed-rate notes maturing between 2028 and 2066, priced near par an...
Business Operations and StrategyM&A Transactions
AbbVie to Acquire Apogee, Expanding Immunology Portfolio
Positive
Jun 22, 2026
On June 22, 2026, AbbVie agreed to acquire clinical-stage biotech Apogee Therapeutics for $135.11 per share in cash, valuing the deal at about $10.9 billion and adding multiple inflammatory and immunological candidates to its pipeline. The all-cas...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.