Stock Analysis on Net
Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

AbbVie Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Short-term borrowings 1.87 2.83 4.05 1.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Current portion of long-term debt and finance lease obligations 4.52 1.48 1.43 2.77 5.03 8.76 8.87 6.85 5.34 3.75 3.84 2.08 2.98 6.51 8.32 6.94 8.52 4.47 5.33 7.53
Accounts payable and accrued liabilities 25.93 25.11 23.51 22.80 23.63 21.26 20.66 21.04 22.75 21.77 19.97 18.42 18.30 16.63 15.74 15.76 15.49 14.69 14.05 13.69
Current liabilities 32.31% 29.42% 28.99% 26.73% 28.67% 30.02% 29.53% 27.89% 28.09% 25.53% 23.82% 20.51% 21.28% 23.15% 24.08% 22.71% 24.02% 19.17% 19.38% 21.23%
Long-term debt and finance lease obligations, excluding current portion 44.00 47.03 45.89 47.39 44.64 40.79 40.90 42.86 38.75 40.84 41.23 44.07 42.60 42.74 42.60 44.36 43.81 49.74 50.17 49.29
Deferred income taxes 1.78 1.85 1.86 1.90 1.91 1.92 1.92 1.83 1.45 1.50 1.57 1.57 1.58 1.40 1.57 1.98 2.05 2.42 2.47 2.50
Other long-term liabilities 24.31 23.64 23.36 22.91 22.29 23.03 22.85 22.02 24.00 23.23 23.86 23.97 22.08 21.38 21.49 19.57 19.59 19.55 19.46 17.85
Long-term liabilities 70.09% 72.52% 71.11% 72.19% 68.84% 65.74% 65.66% 66.70% 64.19% 65.57% 66.66% 69.61% 66.27% 65.51% 65.67% 65.90% 65.45% 71.71% 72.10% 69.65%
Total liabilities 102.41% 101.94% 100.10% 98.93% 97.51% 95.77% 95.19% 94.59% 92.28% 91.10% 90.47% 90.11% 87.55% 88.66% 89.74% 88.61% 89.47% 90.88% 91.49% 90.88%
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Common stock held in treasury, at cost -6.83 -6.83 -6.67 -6.71 -6.07 -5.47 -5.52 -5.26 -4.85 -4.79 -4.82 -4.85 -3.31 -3.25 -3.21 -3.20 -2.14 -2.03 -2.04 -2.00
Additional paid-in-capital 16.79 16.65 16.03 16.02 15.78 14.75 14.71 13.87 14.98 14.70 14.66 14.58 13.86 13.48 13.20 13.08 12.49 12.16 12.12 11.77
Retained earnings (accumulated deficit) -11.57 -10.63 -8.39 -7.00 -5.84 -3.46 -2.65 -1.60 -0.74 0.68 1.32 1.78 3.45 3.50 2.46 3.56 2.13 1.07 0.50 1.52
Accumulated other comprehensive loss -0.85 -1.18 -1.12 -1.28 -1.42 -1.63 -1.77 -1.65 -1.71 -1.73 -1.66 -1.66 -1.58 -2.44 -2.23 -2.08 -1.98 -2.12 -2.10 -2.19
Stockholders’ equity (deficit) -2.44% -1.97% -0.13% 1.04% 2.46% 4.21% 4.78% 5.38% 7.69% 8.88% 9.50% 9.87% 12.43% 11.32% 10.23% 11.37% 10.52% 9.10% 8.49% 9.11%
Noncontrolling interest 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
Total equity (deficit) -2.41% -1.94% -0.10% 1.07% 2.49% 4.23% 4.81% 5.41% 7.72% 8.90% 9.53% 9.89% 12.45% 11.34% 10.26% 11.39% 10.53% 9.12% 8.51% 9.12%
Total liabilities and equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The composition of liabilities and stockholders’ equity exhibited notable shifts over the observed period, spanning from March 31, 2021, to December 31, 2025. Overall, a gradual increase in the proportion of total liabilities relative to total equity is apparent, particularly towards the end of the period. This is coupled with a significant decline in stockholders’ equity, especially in the latter years.

Current Liabilities
Current liabilities as a percentage of total liabilities and equity generally fluctuated between approximately 19% and 29% throughout the period. A noticeable upward trend in current liabilities emerged from March 2023, peaking at 32.31% in December 2023, before decreasing slightly to 32.31% in December 2025. This suggests a growing reliance on short-term financing or an increase in short-term obligations.
Long-Term Liabilities
Long-term liabilities consistently represented a substantial portion of the capital structure, ranging from approximately 64% to 73%. While exhibiting some fluctuation, a general upward trend is observed from 2022 onwards, reaching nearly 73% by September 2025. This indicates an increasing dependence on long-term debt to finance operations and growth.
Debt Composition
The current portion of long-term debt and finance lease obligations demonstrated variability, initially around 7-8% but declining significantly to approximately 2-5% from March 2022 onwards. Short-term borrowings remained consistently low, generally below 1%, but experienced a substantial increase in March 2025 (1.17%) and June 2025 (4.05%), before decreasing again. This suggests a shift in debt maturity profiles and potentially increased short-term borrowing activity in mid-2025.
Stockholders’ Equity
Stockholders’ equity experienced a marked decline over the period, decreasing from approximately 9% in early 2021 to a negative value by June 2025 (-1.94%) and remaining negative through December 2025 (-2.41%). This decline was primarily driven by a substantial increase in treasury stock and a decrease in retained earnings, which transitioned from a positive value of 1.52% in March 2021 to a negative value of -11.57% in December 2025. Accumulated other comprehensive loss also contributed to the decline, remaining consistently negative and increasing in magnitude over time.
Accounts Payable and Accrued Liabilities
Accounts payable and accrued liabilities exhibited a consistent upward trend, increasing from 13.69% in March 2021 to 25.93% in December 2025. This suggests a growing level of short-term operational obligations and potentially extended payment terms with suppliers.
Deferred Income Taxes
Deferred income taxes remained relatively stable, fluctuating between approximately 1.4% and 2.5% throughout the period, indicating a consistent approach to tax-related liabilities.
Other Long-Term Liabilities
Other long-term liabilities showed a general increasing trend, rising from 17.85% in March 2021 to 24.31% in December 2025. This suggests a growing presence of long-term obligations not categorized as debt.

In summary, the balance sheet composition shifted towards a greater reliance on liabilities and a significant erosion of stockholders’ equity. The increasing proportion of long-term debt and current liabilities, coupled with the decline in retained earnings and the growth of treasury stock, suggests a changing financial profile that warrants further investigation.

AI Ask an analyst for more