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AbbVie Inc.
NYSE: ABBV Healthcare Pharma 🔎 Screen
S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 80 Ready View all →
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$454.8B
Market Cap
96.8
P/E
1.09
PEG
17.3%
ROCE
6,225.0%
ROE
-21.19
D/E
34.5%
OPM
-3.3%
% from 52W High
72
α RS
🔍 ABBV is showing a high-conviction setup because it matches 14 of 39 tracked screener presets, RS Rating is 72, and it's within 3.3% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating 52W High
Sources
Conviction 14/39 · RS Rating 72 · 3.3% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for ABBV including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
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By Category
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About

AbbVie Inc., a research-based biopharmaceutical company, engages in the research and development, manufacturing, commercializing, and sale of medicines and therapies worldwide. The company offers Skyrizi to treat autoimmune diseases; Rinvoq to treat inflammatory diseases; Imbruvica for the treatment of adult patients with blood cancers; Venclexta to treat blood cancers; Elahere to treat various cancer; and Epkinly to treat lymphoma; and Emrelis for the treatment of lung cancer. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products; botox Cosmetic for the treatment of glabellar lines, crow's feet, forehead lines, and platysma bands; Juvederm Collection to treat volume loss in the temples, undereye, cheeks, chin, lips and lower face; Vraylar to treat schizophrenia, bipolar disorder, and depressive disorder; Duodopa to treat Parkinson's disease; Ubrelvy to treat migraine; Qulipta for episodic and chronic migraine; and Vyalev for the treatment of motor fluctuations, as well as Botox Therapeutic to treat chronic migraine, overactive bladder, spasticity, cervical dystonia, and other conditions. In addition, the company offers Ozurdex for visual impairment; Lumigan/Ganfort and Alphagan/Combigan for the reduction of elevated intraocular pressure in patients with open angle glaucoma or ocular hypertension; and other eye care products, including Refresh/Optive, Xen, Durysta, and Restasis. Further, it provides Mavyret to treat chronic hepatitis C virus genotype 1-6 infection; Creon, a pancreatic enzyme therapy; and Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$16.99B
+10.2% YoY reported; +9.5% operational
Operating Margin
48.3% adjusted
Includes 1.7pp unfavorable impact from acquired IPR&D
Adjusted Diluted EPS
$3.65
+22.9% YoY
GAAP Diluted EPS
$2.03
+290.4% YoY
What Went Right
  • SKYRIZI global sales grew 24% operationally to $5.5B, driving immunology portfolio to $8.8B (+14.6% operational).
  • Neuroscience grew ~20% operationally to $3.2B, with VRAYLAR up ~19% to $1.07B and BOTOX Therapeutic up 11.6% operational.
  • Adjusted EPS of $3.65 beat guidance midpoint by $0.06; total quarterly revenue beat expectations by $300M, prompting a $300M raise to full-year revenue guidance.
What to Watch
  • HUMIRA sales fell 36.1% operationally to $756M on biosimilar competition.
  • Oncology revenue declined 2.4% operationally to $1.65B as IMBRUVICA fell 29.4% due to IRA pricing and competition.
  • Planned Apogee acquisition adds $0.14 FY26 EPS dilution and increases net interest expense guidance by $200M; leverage is expected back to 2x within 2-3 years post-close.
Management Guidance
  • Full-year 2026 adjusted EPS guidance raised to $13.87-$14.07 (includes $0.14 Apogee dilution; excludes further acquired IPR&D).
  • Full-year 2026 net revenue guidance raised to approximately $67.6B (+$300M vs prior).
  • Q3 2026 revenue expected approximately $17.2B; adjusted EPS guidance $3.84-$3.88.
Investor Lens
The thesis is strengthened after this quarter: core growth assets SKYRIZI, RINVOQ and neuroscience are growing 20%+ and beating expectations, offsetting HUMIRA and IMBRUVICA declines. Management raised full-year revenue and EPS guidance while absorbing Apogee dilution, signaling confidence. The Apogee acquisition adds long-term immunology optionality, though near-term EPS dilution and added debt are modest. Overall, a strong beat-and-raise quarter with clear momentum into 2H26.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong beat-and-raise quarter: revenue +10.2% to $16.99B, EPS beat by $0.06
Revenue
Total net revenues were $16.99B, up 10.2% reported and 9.5% operationally, beating expectations by $300M. Immunology grew 14.6% operationally to $8.79B, while neuroscience grew 19.8% operationally to $3.23B. Aesthetics declined 0.9% operationally to $1.28B.
Profitability
Adjusted diluted EPS was $3.65, up 22.9% YoY and $0.06 above guidance midpoint, including $0.17 unfavorable acquired IPR&D. GAAP diluted EPS was $2.03, up 290.4% YoY.
Margins
Adjusted gross margin was 84.7%, above the full-year forecast of above 84%. Adjusted operating margin was 48.3% of sales, including a 1.7pp negative impact from acquired IPR&D. Adjusted R&D was 13.6% of sales and adjusted SG&A was 21.0%.
Balance Sheet
Net interest expense was $679M in Q2. Full-year net interest expense guidance was raised to approximately $2.9B ($200M increase) due to Apogee financing. Management said it remains committed to a net leverage ratio of 2 times within 2-3 years after deal close, with ample capacity for further business development.
Key Risks
HUMIRA remains under biosimilar pressure, down 36.1% operationally. IMBRUVICA continues declining on IRA and competition. Competitive launches in psoriasis and HS, plus GLP-1 co-use in trials, were flagged as dynamics to monitor; management said SKYRIZI momentum has not degraded and HS studies are designed to manage placebo rates.
Outlook
Full-year revenue guidance was raised to about $67.6B, and adjusted EPS guidance was set at $13.87-$14.07, with the Apogee transaction assumed to close in Q3. Q3 revenue is guided to about $17.2B with adjusted EPS of $3.84-$3.88.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-31
Second quarter results exceeded expectations with double-digit revenue growth and raised full-year guidance. Immunology and neuroscience segments drove performance, while the Apogee acquisition and new product approvals strengthen the long-term outlook.
Q1 2026 Q1 2026 2026-04-29
First quarter 2026 results surpassed expectations with 12.4% revenue growth and strong performance in immunology and neuroscience. Full-year guidance was raised, pipeline progress continued, and significant investments in manufacturing and R&D were announced.
Q4 2025 Q4 2025 2026-02-04
Record 2025 sales and EPS exceeded guidance, driven by strong growth in immunology and neuroscience. 2026 outlook projects 9.5% revenue growth, robust free cash flow, and continued pipeline advancement, despite ongoing Humira erosion and pricing headwinds.
Q3 2025 Q3 2025 2025-10-31
Adjusted EPS and revenues exceeded expectations, driven by strong growth in immunology and neuroscience. 2025 guidance was raised, with robust pipeline progress and increased R&D investment, despite ongoing HUMIRA erosion and aesthetics market softness.
Q2 2025 Q2 2025 2025-07-31
Second quarter results exceeded expectations with strong growth in immunology and neuroscience, leading to raised full-year revenue and EPS guidance. Robust performance from SKYRIZI and RINVOQ, pipeline advancements, and strategic business development support a positive long-term outlook.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
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