AbbVie (ABBV) Q4 2025 Financial Results Summary
QuoteReporter
•4 min read
AbbVie (ABBV) Q4 2025 Financial Results Summary
February 4, 2026 – AbbVie (NYSE: ABBV) reported its financial results for the fourth quarter and full-year ending December 31, 2025. Below is a summary of the highlights from their earnings report.
Key Financial Metrics
Fourth-Quarter Results
- Net Revenues:
- Total: $16.618 billion, up 10.0% (reported) and 9.5% (operational) from Q4 2024.
- Immunology Portfolio: $8.626 billion, up 18.3% (reported) and 17.7% (operational).
- Neuroscience Portfolio: $2.961 billion, up 17.9% (reported) and 17.3% (operational).
- Oncology Portfolio: $1.664 billion, down 1.5% (reported) and 2.5% (operational).
-
Aesthetics Portfolio: $1.286 billion, down 0.9% (reported) and 1.2% (operational).
-
Diluted EPS (GAAP): $1.02, up from -$0.02 in Q4 2024.
- Adjusted Diluted EPS: $2.71, up from $2.16 in Q4 2024.
Full-Year Results
- Net Revenues:
- Total: $61.160 billion, up 8.6% (reported) and 8.5% (operational) from 2024.
- Immunology Portfolio: $30.406 billion, up 14.0% (reported) and 13.9% (operational).
- Neuroscience Portfolio: $10.767 billion, up 19.6% (reported) and 19.4% (operational).
- Oncology Portfolio: $6.655 billion, up 1.5% (reported) and 1.4% (operational).
-
Aesthetics Portfolio: $4.860 billion, down 6.1% (reported) and 5.9% (operational).
-
Diluted EPS (GAAP): $2.36, down 1.3% from 2024.
- Adjusted Diluted EPS: $10.00, down 1.2% from 2024.
Highlights of Product Performance
- Immunology Portfolio Revenues:
- Skyrizi: $5.006 billion, up 32.5% (reported) and 31.9% (operational).
- Rinvoq: $2.374 billion, up 29.5% (reported) and 28.6% (operational).
-
Humira: $1.246 billion, down 25.9% (reported) and 26.1% (operational).
-
Neuroscience Portfolio:
- Vraylar: $1.022 billion, up 10.5%.
- Botox Therapeutic: $990 million, up 13.4% (reported) and 13.0% (operational).
-
Ubrelvy: $339 million, up 12.0%.
-
Oncology Portfolio:
- Imbruvica: $671 million, down 20.8%.
-
Venclexta: $710 million, up 8.6% (reported) and 6.4% (operational).
-
Aesthetics Portfolio:
- Botox Cosmetic: $717 million, up 4.2% (reported) and 3.8% (operational).
- Juvederm: $249 million, down 10.7% (reported) and 10.8% (operational).
Financial Position
- Gross Margin Ratio (GAAP): 72.6%.
- Adjusted Gross Margin Ratio: 83.6%.
- Operating Margin Ratio (GAAP): 27.3%. Adjusted: 38.3%.
- Net Interest Expense: $655 million.
- Income Tax Rate (GAAP): 32.0%; Adjusted: 18.3%.
Recent Developments
- AbbVie engaged in a voluntary agreement to enhance access and affordability, committing $100 billion in U.S. R&D and capital investments over the next decade.
- Submitted applications for new indications for Rinvoq and Aquipta, aiming to expand treatment options for various patient populations.
- Received FDA approval for Epkinly in combination therapies targeting relapsed or refractory lymphoma.
Dividend and Share Repurchase Information
- The report does not specify any declaration of a quarterly dividend or share repurchase.
Full-Year 2026 Outlook
- AbbVie issued a guidance range for the adjusted diluted EPS for 2026 between $14.37 to $14.57, excluding any unfavorable impacts from acquired IPR&D and milestones expenses.
This summary captures AbbVie’s financial performance for the quarter and full-year ended December 31, 2025, reflecting a complex landscape of growth alongside challenges particularly within the Aesthetics and Oncology portfolios.
Consolidated Statements of Earnings (in millions)
| Fourth Quarter | Twelve Months | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Net revenues | $ 16,618 | $ 15,102 | $ 61,160 | $ 56,334 |
| Cost of products sold | 4,552 | 4,396 | 18,204 | 16,904 |
| Selling, general and administrative | 3,895 | 3,855 | 14,010 | 14,752 |
| Research and development | 2,579 | 6,774 | 9,096 | 12,791 |
| Acquired IPR&D and milestones | 1,265 | 1,574 | 5,016 | 2,757 |
| Other operating income | -217 | -7 | -241 | -7 |
| Total operating costs and expenses | 12,074 | 16,592 | 46,085 | 47,197 |
| Operating earnings (loss) | 4,544 | -1,490 | 15,075 | 9,137 |
| Interest expense, net | 655 | 610 | 2,627 | 2,160 |
| Net foreign exchange loss | 11 | 19 | 58 | 21 |
| Other expense, net | 1,210 | 150 | 5,793 | 3,240 |
| Earnings (loss) before income tax | 2,668 | -2,269 | 6,597 | 3,716 |
| Income tax expense (benefit) | 853 | -2,246 | 2,364 | -570 |
| Net earnings (loss) | 1,815 | -23 | 4,233 | 4,286 |
| Net earnings (loss) attributable to | -1 | -1 | 7 | 8 |
| noncontrolling interest | ||||
| Net earnings (loss) attributable to | $ 1,816 | $ -22 | $ 4,226 | $ 4,278 |
| AbbVie Inc. | ||||
| Diluted earnings (loss) per share | $ 1.02 | $ -0.02 | $ 2.36 | $ 2.39 |
| attributable to AbbVie Inc. | ||||
| Adjusted diluted earnings per share | $ 2.71 | $ 2.16 | $ 10.00 | $ 10.12 |
| Weighted-average diluted shares | 1,774 | 1,769 | 1,773 | 1,773 |
| outstanding | ||||
| Adjusted weighted-average diluted shares | 1,774 | 1,773 | 1,773 | 1,773 |
| outstanding |
Condensed Consolidated Balance Sheets (in millions)
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 5,200 | $ 6,001 |
| Accounts receivable | 14,504 | 12,404 |
| Inventories | 4,095 | 3,909 |
| Other current assets | 2,244 | 2,353 |
| Total current assets | 26,043 | 24,667 |
| Property and equipment, net | 7,301 | 7,606 |
| Goodwill | 46,905 | 45,056 |
| Intangible assets | 22,275 | 21,481 |
| Other assets | 3,579 | 3,354 |
| Total assets | $ 105,103 | $ 102,164 |
| Liabilities | ||
| Accounts payable | $ 10,412 | $ 9,288 |
| Accrued liabilities | 8,329 | 7,103 |
| Short-term debt | 2,903 | 2,896 |
| Other current liabilities | 2,395 | 2,211 |
| Total current liabilities | 24,039 | 21,498 |
| Long-term debt | 39,681 | 38,133 |
| Other long-term liabilities | 7,456 | 6,178 |
| Total liabilities | $ 71,176 | $ 65,809 |
| Equity | ||
| Common stock and additional paid-in capital | 18,158 | 17,531 |
| Retained earnings | 15,679 | 16,975 |
| Accumulated other comprehensive income | 470 | 949 |
| Total equity | $ 33,927 | $ 36,355 |
| Total liabilities and equity | $ 105,103 | $ 102,164 |