Stock Analysis on Net
Stock Analysis on Net
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AbbVie Inc. (NYSE:ABBV)

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Analysis of Investments

Advanced level

Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

AbbVie Inc., adjustment to net earnings attributable to AbbVie Inc.

US$ in millions

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12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net earnings attributable to AbbVie Inc. (as reported)
Add: Marketable security activities, net of tax
Net earnings attributable to AbbVie Inc. (adjusted)

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).


Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

AbbVie Inc., adjusted profitability ratios

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. AbbVie Inc.’s adjusted net profit margin ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. AbbVie Inc.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020.

AbbVie Inc., Profitability Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.
Net revenues
Profitability Ratio
Net profit margin1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.
Net revenues
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

2020 Calculations

1 Net profit margin = 100 × Net earnings attributable to AbbVie Inc. ÷ Net revenues
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Net revenues
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. AbbVie Inc.’s adjusted net profit margin ratio improved from 2018 to 2019 but then deteriorated significantly from 2019 to 2020.

Adjusted Return on Equity (ROE)

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Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.
Stockholders’ equity (deficit)
Profitability Ratio
ROE1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.
Stockholders’ equity (deficit)
Profitability Ratio
Adjusted ROE2

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

2020 Calculations

1 ROE = 100 × Net earnings attributable to AbbVie Inc. ÷ Stockholders’ equity (deficit)
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Stockholders’ equity (deficit)
= 100 × ÷ =


Adjusted Return on Assets (ROA)

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to AbbVie Inc.
Total assets
Profitability Ratio
ROA1
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in millions)
Adjusted net earnings attributable to AbbVie Inc.
Total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (filing date: 2021-02-19), 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-16), 10-K (filing date: 2017-02-17).

2020 Calculations

1 ROA = 100 × Net earnings attributable to AbbVie Inc. ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net earnings attributable to AbbVie Inc. ÷ Total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. AbbVie Inc.’s adjusted ROA deteriorated from 2018 to 2019 and from 2019 to 2020.