ABBOTT LABORATORIES financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ABBOTT LABORATORIES files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	20,853	27,390	30,578	31,904	34,608	43,075	43,653	40,109	41,950	44,328
Cost of revenue	9,094	12,409	12,706	13,231	15,003	18,537	19,142	17,975	18,706	19,319
Gross profit	11,759	14,981	17,872	18,673	19,605	24,538	24,511	22,134	23,244	25,009
Research and development	1,447	2,260	2,300	2,440	2,420	2,742	2,888	2,741	2,844	2,942
Selling, general and administrative	6,736	9,182	9,744	9,765	9,696	11,324	11,248	10,949	11,697	12,332
Operating income	3,026	1,564	3,650	4,532	5,357	8,425	8,362	6,478	6,825	8,053
Interest expense	431	904	826	670	546	533	558	637	559	493
Interest income	99	124	105	94	46	43	183	385	344	308
Other non-operating income	-786	1,413	139	191	103	277	321	479	376	548
Pre-tax income	1,413	2,231	2,873	4,077	4,968	8,211	8,306	6,664	7,013	8,466
Income tax	350	1,878	539	390	497	1,140	1,373	941	-6,389	1,942
Net income	1,400	477	2,368	3,687	4,495	7,071	6,933	5,723	13,402	6,524
EBITDA	3,829	2,610	4,750	5,610	6,552	9,916	9,616	7,755	8,165	9,487
EPS, basic	0.94	0.27	1.34	2.07	2.52	3.97	3.94	3.28	7.67	3.73
EPS, diluted	0.94	0.27	1.33	2.06	2.50	3.94	3.91	3.26	7.64	3.72
Shares, basic (weighted)	1,477	1,740	1,758	1,768	1,773	1,775	1,753	1,740	1,740	1,741
Shares, diluted (weighted)	1,483	1,749	1,770	1,781	1,786	1,789	1,764	1,749	1,748	1,748
Dividend per share							1.92	2.08	2.24	2.40

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	18,620	9,407	3,844	3,860	6,838	9,799	9,882	6,896	7,616	8,522
Short-term investments	155	203	242	280	310	450	288	383	351	417
Receivables	3,248	5,249	5,182	5,425	6,414	6,487	6,218	6,565	6,925	7,929
Inventory	2,434	3,601	3,796	4,316	5,012	5,157	6,173	6,570	6,194	6,488
Other current assets	1,806	1,667
Total current assets	26,776	20,147	14,632	15,667	20,441	24,239	25,224	22,670	23,656	25,996
Property, plant and equipment	5,705	7,607	7,563	8,038	9,029	8,959	9,162	10,154	10,658	11,816
Lease right-of-use assets				934	1,101	1,153	1,116	1,122	1,075	1,126
Goodwill	7,683	24,020	23,254	23,195	23,744	23,231	22,799	23,679	23,108	24,035
Intangible assets	4,539	21,473	18,942	17,025	14,784	12,739	10,454	8,815	6,647	5,526
Long-term investments	2,947	883	897	883	821	816	766	799	886	918
Total assets	52,666	76,250	67,173	67,887	72,548	75,196	74,438	73,214	81,414	86,713
Accounts payable	1,178	2,402	2,975	3,252	3,946	4,408	4,607	4,295	4,195	4,240
Accrued liabilities	752	1,187	1,182	1,237	1,416	1,625	1,556	1,597	1,701	1,745
Short-term debt	3	508	7	1,277	7	754	2,251	1,080	1,500	3,033
Total current liabilities	6,660	8,912	9,012	10,863	11,907	13,105	15,489	13,841	14,157	16,496
Long-term debt	20,681	27,210	19,359	16,661	18,527	17,296	14,522	13,599	12,625	9,896
Lease liabilities				755	902	956	943	949	896	931
Other non-current liabilities	4,549	9,030				3,685	3,804	3,466	2,586	2,538
Total liabilities	31,949	45,152	36,451	36,586	39,545	39,172	37,533	34,387	33,513	33,942
Total debt	20,684	27,718	19,366	17,938	18,534	18,050	16,773	14,679	14,125	12,929
Retained earnings	25,565	23,978	24,560	25,847	27,627	31,528	35,257	37,554	47,261	49,781
Treasury stock	-10,791	-10,225	-9,962	-10,147	-10,042	-11,822	-15,229	-15,981	-16,844	-17,177
Other comprehensive income	-7,263	-6,062	-7,586	-8,465	-8,946	-8,374	-8,051	-7,839	-7,906	-6,001
Shareholders' equity	20,538	30,897	30,524	31,088	32,784	35,802	36,686	38,603	47,664	52,130
Minority interests	179	201	198	213	219	222	219	224	237	641
Total equity	20,717	31,098	30,722	31,301	33,003	36,024	36,905	38,827	47,901	52,771
Total liabilities and equity	52,666	76,250	67,173	67,887	72,548	75,196	74,438	73,214	81,414	86,713

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,400	477	2,368	3,687	4,495	7,071	6,933	5,723	13,402	6,524
Depreciation and amortization	803	1,046	1,100	1,078	1,195	1,491	1,254	1,277	1,340	1,434
Stock-based compensation	310	406	477	519	546	640	685	644	673	664
Deferred income tax	-127	-890	745	-491	-108	-509	-659	-461	-7,961	441
Change in receivables	-177	-207	-190	-275	-924	-383	-68	-356	-691	-652
Change in inventory	-98	249	-514	-593	-493	-456	-1,413	-232	-58	195
Change in payables	-652	615	747	220	1,766	1,288	420	-760	356	954
Cash from operations	3,203	5,570	6,300	6,136	7,901	10,533	9,581	7,261	8,558	9,566
Capital expenditures	-1,121	-1,135	-1,394	-1,638	-2,177	-1,885	-1,777	-2,202	-2,207	-2,171
Acquisitions	-80	-17,183
Purchases of investments	-2,823	-210	-131	-103	-83	-173	-185	-159	-169	-167
Sales and maturities of investments		129	73	21	10	77
Cash from investing	-248	-9,618	-1,356	-1,815	-2,215	-2,008	-1,740	-3,133	-2,338	-2,422
Debt issued	14,934	6,742	4,009	1,842	1,281	4
Debt repaid	-12	-8,650	-12,433	-3,441	-1,333	-48
Stock issued	248	350	271	298	245	255	167	167	264	396
Share buybacks	-522	-117	-238	-718	-403	-2,299	-3,795	-1,227	-1,295	-893
Dividends paid	-1,539	-1,849	-1,974	-2,270	-2,560	-3,202	-3,309	-3,556	-3,836	-4,116
Cash from financing	11,147	-5,281	-10,391	-4,289	-2,779	-5,494	-7,636	-7,091	-5,404	-6,309
Exchange rate effect	-483	116
Net change in cash	13,619	-9,213	-5,563	16	2,978	2,961	83	-2,986	720	906
Free cash flow	2,082	4,435	4,906	4,498	5,724	8,648	7,804	5,059	6,351	7,395
Interest paid	181	917	845	677	549	544	563	662	604	545
Income taxes paid	620	570	740	930	970	1,941	1,864	1,475	1,723	1,933

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $101.29 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	56.3%	Gross profit / revenue.
Operating margin	17.1%	Operating income / revenue.
EBITDA margin	20.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	18.0%	Pre-tax income / revenue.
Net margin	13.9%	Net income / revenue.
FCF margin	16.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.0%	Cash from operations / revenue.
Effective tax rate	22.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	12.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.7%	Net income / average total assets.
Return on invested capital (ROIC)	7.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	6.6%	Research and development expense / revenue.
SG&A / revenue	28.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.6%	Capital expenditures / revenue.
D&A / revenue	3.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	7.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	0.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	18.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-1.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	8.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	16.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-0.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	7.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-51.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-2.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	7.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-51.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.6%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	11.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-0.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	16.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-1.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	5.3%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	7.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	9.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.39x	Current assets / current liabilities.
Quick ratio	0.84x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.40x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.65x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	30.8%	Total debt / total assets.
Liabilities / assets	52.3%	Total liabilities / total assets.
Net debt	$26.75B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.91x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	14.4x	Operating income / interest expense.
Working capital	$7.13B	Current assets - current liabilities.
Goodwill and intangibles / assets	48.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.04B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.41x	Revenue / average total assets.
Fixed asset turnover	3.65x	Revenue / average property, plant and equipment.
Inventory turnover	2.82x	Cost of revenue / average inventory.
Days inventory	129 days	365 x average inventory / cost of revenue.
Receivables turnover	5.50x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	87 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	109 days	Days inventory + days sales outstanding - days payables.
FCF conversion	117.6%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	22.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.59	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$25.83	Revenue / diluted weighted shares.
FCF per share	$4.22	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.42	Cash from operations / diluted weighted shares.
Book value per share	$29.80	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.59	Tangible book value / shares outstanding.
Cash per share	$4.18	(Cash + short-term investments) / shares outstanding.
Payout ratio	66.7%	Dividends paid / net income, when net income is positive.
Dividends / FCF	56.8%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	10.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$175.27B	Share price x shares outstanding.
Enterprise value	$202.02B	Market cap + total debt - cash - short-term investments.
P/E	27.9x	Market cap / net income. Only when net income is positive.
P/S	3.88x	Market cap / revenue.
P/B	3.37x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	23.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	18.5x	Market cap / cash from operations, when positive.
EV/Sales	4.48x	Enterprise value / revenue.
EV/EBIT	26.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	22.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	27.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.2%	Free cash flow / market cap.
Earnings yield	3.6%	Net income / market cap (the inverse of P/E).
Dividend yield	2.4%	Dividends paid over the period / market cap.
Shareholder yield	2.8%	(Dividends paid + share buybacks) / market cap.

What was ABBOTT LABORATORIES's revenue in fiscal 2025?

ABBOTT LABORATORIES reported revenue of $44.33B for fiscal 2025, 5.7% higher than the year before.

Was ABBOTT LABORATORIES profitable in fiscal 2025?

Yes. Net income was $6.52B, a net margin of 14.7%.

How much free cash flow did ABBOTT LABORATORIES generate in fiscal 2025?

Cash from operations of $9.57B minus capital expenditures of $2.17B left free cash flow of $7.40B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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