AbbVie Inc.
ABBV · NYSE · CIK 0001551152
SIC 2834
Pharmaceutical Preparations
Category
Chemicals
Entity
operating
Incorp.
DE
Fiscal Y/E
1231
Source: SEC EDGAR · All filings on SEC →
Investment Indicators
$202.82
+1.27 (+0.63%)
Open
$202.01
High
$205.38
Low
$202.01
Prev Close
$201.55
Volume
3,125,651
52W High
$239.13
52W Low
$171.00
50-day MA
$213.27
Quote as of: 2026-05-11
Market Cap
$362.65B
P/E
100.50
P/B
50.46
PEG
0.57
EPS
2.04
BPS
-1.85
Dividend Yield
3.27%
Beta
0.31
ROE
-129.24%
ROA
3.15%
Current Ratio
0.67
Gross Margin
19.73%
Operating Margin
24.65%
Net Margin
6.91%
Intrinsic Value Estimates
Multiple valuation methods, each with its own assumptions — outputs can diverge widely
Median consensus (5 methods)
$112.72B
| Method | Implied market cap | vs current |
|---|---|---|
Graham Number √(22.5 × 순이익 × 자본) | — | 순이익 또는 자본이 0 이하 |
Graham Formula 순이익 × (8.5 + 2 × 성장률%) | $25.65B | +1314% |
Justified P/E 순이익 × 산업 평균 P/E | $63.39B | +472% |
P/B 배수 자본 × 산업 평균 P/B | — | 자본이 0 이하 |
P/S 배수 매출 × 산업 평균 P/S | $122.32B | +196% |
DCF (Gordon) CF × (1+g) / (r − g) | $172.28B | +110% |
DDM (Gordon) D × (1+g) / (r − g) | $112.72B | +222% |
▶ Detailed analysis — formula walk-through & scenarios
Why this conclusion
Of the 7 valuation methods, 5 were applicable. Their median fair-value lands +221.7% below the current market cap → the stock trades above most formulas' estimates (overvalued). 5 methods flag overvalued, 0 flag undervalued, the rest land within fair range. Read each formula's assumptions below before treating any single number as the answer.
Graham Number
√(22.5 × 순이익 × 자본)
Not applicable: 순이익 또는 자본이 0 이하
Graham Formula
Overvalued +1314.0%순이익 × (8.5 + 2 × 성장률%)
Current
$362.65B
Implied fair
$25.65B
Gap (current − fair)
+$337.00B(+1314.0%)
NetIncome = $4.23B Growth g = -1.2% → cap -1.2% Multiple = 8.5 + 2 × -1.2 = 6.1× $4.23B × 6.1 = $25.65B
- EPS 성장률 -1.2%/년 가정 (직전 1년 기준)
- 무성장 기업 P/E = 8.5
- 현재 적용 배수: 6.1x
Justified P/E
Overvalued +472.1%순이익 × 산업 평균 P/E
Current
$362.65B
Implied fair
$63.39B
Gap (current − fair)
+$299.26B(+472.1%)
NetIncome = $4.23B Industry P/E = 15× $4.23B × 15 = $63.39B
- 산업 평균 PER 15x 가정 (사용자 정의 가능)
- 동종 업종 비교가 핵심 — 산업별 평균 P/E 사용 권장
P/B 배수
자본 × 산업 평균 P/B
Not applicable: 자본이 0 이하
P/S 배수
Overvalued +196.5%매출 × 산업 평균 P/S
Current
$362.65B
Implied fair
$122.32B
Gap (current − fair)
+$240.33B(+196.5%)
Revenue = $61.16B Industry P/S = 2× $61.16B × 2 = $122.32B
- 산업 평균 PSR 2x 가정
- 매출 기반 — 적자 기업·신생 기업에 적용 가능
- 이익률 차이 무시
DCF (Gordon)
Overvalued +110.5%CF × (1+g) / (r − g)
Current
$362.65B
Implied fair
$172.28B
Gap (current − fair)
+$190.37B(+110.5%)
FCF = $17.82B Discount r = 4.0% + 5.0% = 9.0% Growth g = -1.2% $17.82B × (1 + -1.2%) / (9.0% − -1.2%) = $172.28B
- 현금흐름 입력: FCF (잉여현금흐름)
- 할인율 9.0% (무위험 4.0% + 주식위험프리미엄 5.0%)
- 영구 성장률 -1.2% (실질 GDP 수준)
DDM (Gordon)
Overvalued +221.7%D × (1+g) / (r − g)
Current
$362.65B
Implied fair
$112.72B
Gap (current − fair)
+$249.93B(+221.7%)
Dividend D = $11.66B Discount r = 9.0% Growth g = -1.2% $11.66B × (1 + -1.2%) / (9.0% − -1.2%) = $112.72B
- 배당 입력: 실제 지급 배당
- 할인율 9.0%
- 배당 영구 성장률 -1.2%
DCF sensitivity: discount rate × terminal growth
Each cell is the (current vs FCF × (1+g) / (r − g)) discount % under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +20.9% | +41.1% | +61.2% | +81.4% | +101.5% |
| 2% | -0.2% | +19.7% | +39.7% | +59.6% | +79.6% |
| 3% | -21.0% | -1.2% | +18.6% | +38.3% | +58.1% |
| 4% | -41.3% | -21.7% | -2.1% | +17.4% | +37.0% |
| 5% | -61.2% | -41.8% | -22.5% | -3.1% | +16.3% |
DDM sensitivity: discount rate × dividend growth
Each cell is the discount % vs Dividend × (1+g) / (r − g) under the assumed growth g and discount r.
| g \ r | 7% | 8% | 9% | 10% | 11% |
|---|---|---|---|---|---|
| 1% | +84.8% | +115.6% | +146.4% | +177.2% | +208.0% |
| 2% | +52.5% | +83.0% | +113.5% | +144.0% | +174.5% |
| 3% | +20.8% | +51.0% | +81.2% | +111.4% | +141.6% |
| 4% | -10.3% | +19.7% | +49.6% | +79.5% | +109.4% |
| 5% | -40.7% | -11.1% | +18.5% | +48.1% | +77.8% |
All estimates rest on strong assumptions. Treat the spread, not any single number, as the signal.
Financial Statements
In USD millions (per-share figures shown directly) · Financials as of: 2026-02-20
Income Statement
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 61,160 | 56,334 | 54,318 | 58,054 | 56,197 |
| Cost of Revenue | 18,204 | 16,904 | 20,415 | 17,414 | 17,446 |
| Gross Profit | 12,066 | 10,706 | 8,597 | 10,951 | 10,566 |
| Operating Income | 15,075 | 9,137 | 12,757 | 18,117 | 17,924 |
| Net Income | 4,226 | 4,278 | 4,863 | 11,836 | 11,542 |
| EPS (Basic) | 2.37 | 2.40 | 2.73 | 6.65 | 6.48 |
| EPS (Diluted) | 2.36 | 2.39 | 2.72 | 6.63 | 6.45 |
Balance Sheet
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total Assets | 133,960 | 135,161 | 134,711 | 138,805 | 146,529 |
| Current Assets | 29,062 | 25,582 | 33,002 | 28,463 | 27,928 |
| Cash & Equivalents | 5,229 | 5,524 | 12,814 | 9,201 | 9,746 |
| Current Liabilities | 43,289 | 38,749 | 37,841 | 29,538 | 35,194 |
| Long-term Debt | 64,503 | 66,841 | 59,245 | 63,128 | 75,962 |
| Total Equity | -3,270 | 3,325 | 10,360 | 17,254 | 15,408 |
Cash Flow
| FY | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating CF | 19,030 | 18,806 | 22,839 | 24,943 | 22,777 |
| Investing CF | -6,643 | -20,820 | -2,009 | -623 | -2,344 |
| Financing CF | -12,724 | -5,211 | -17,222 | -24,803 | -19,039 |
| CapEx | 1,214 | 974 | 777 | 695 | 787 |
| Dividends Paid | 11,657 | 11,025 | 10,539 | 10,043 | 9,261 |
📄 SEC Filings
Quarterly Report
10-Q
2026-05-08
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Current Report
8-K
2026-04-29
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Current Report
8-K
2026-04-03
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Proxy Statement
DEF 14A
2026-03-23
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FORM 8-K
2026-03-04
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Current Report
FORM 8-K
2026-02-26
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Annual Report
10-K
2026-02-20
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2026-02-04
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8-K
2026-01-07
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Quarterly Report
10-Q
2025-11-04
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2025-10-31
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2025-10-03
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FORM 8-K
2025-09-11
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Quarterly Report
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2025-08-04
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2025-07-31
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2025-07-03
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2025-05-13
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2025-05-09
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2025-04-25
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2025-04-03
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Proxy Statement
DEF 14A
2025-03-24
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xslF345X05/form4-03032026_060307.xml
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xslF345X05/form4-03032026_060301.xml
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144
xsl144X01/primary_doc.xml
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xslF345X05/form4-02272026_050202.xml
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424B5
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FWP
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144
xsl144X01/primary_doc.xml
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424B5
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xslF345X05/form4-02202026_110244.xml
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144
xsl144X01/primary_doc.xml
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144
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