Stock Analysis on Net
Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Total Asset Turnover
since 2012

Microsoft Excel

Calculation

AbbVie Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net revenues1 ÷ Total assets1
Dec 31, 2024 0.42 = 56,334 ÷ 135,161
Dec 31, 2023 0.40 = 54,318 ÷ 134,711
Dec 31, 2022 0.42 = 58,054 ÷ 138,805
Dec 31, 2021 0.38 = 56,197 ÷ 146,529
Dec 31, 2020 0.30 = 45,804 ÷ 150,565
Dec 31, 2019 0.37 = 33,266 ÷ 89,115
Dec 31, 2018 0.55 = 32,753 ÷ 59,352
Dec 31, 2017 0.40 = 28,216 ÷ 70,786
Dec 31, 2016 0.39 = 25,638 ÷ 66,099
Dec 31, 2015 0.43 = 22,859 ÷ 53,050
Dec 31, 2014 0.72 = 19,960 ÷ 27,547
Dec 31, 2013 0.64 = 18,790 ÷ 29,198
Dec 31, 2012 0.68 = 18,380 ÷ 27,008

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

1 US$ in millions

The analysis of the financial data reveals several notable trends over the period observed.

Net Revenues
There is an overall upward trajectory in net revenues from 2012 through 2024, with values rising from 18,380 million US dollars in 2012 to 56,334 million US dollars in 2024. The growth is especially pronounced starting from 2016, where revenues increase substantially year-over-year, peaking in 2021 at 56,197 million. A slight decline occurs in 2022 and 2023, followed by a moderate recovery in 2024.
Total Assets
Total assets display fluctuations with a general upward movement until 2017, reaching a peak of approximately 70,786 million US dollars. Subsequently, assets exhibit volatility with a significant jump to 150,565 million in 2020 followed by a decline in the next years, settling around 135,161 million in 2024. This suggests periods of asset growth likely driven by acquisitions or capital expenditures, followed by consolidation or asset sales.
Total Asset Turnover
The total asset turnover ratio, which indicates the efficiency of using assets to generate revenue, has experienced variability. Starting at 0.68 in 2012, the ratio falls to lows near 0.3 in 2019 and 2020, indicating decreased efficiency during those years despite the substantial asset base. There's a mild recovery thereafter, with ratios stabilizing around 0.4 to 0.42 in the most recent years. This suggests some improvement in asset utilization but not a return to earlier efficiency levels.

In summary, while revenues have shown strong growth, especially post-2016, asset levels have increased substantially with periods of volatility. The efficiency in utilizing these assets to generate revenue has declined over time but shows signs of modest recovery in recent years. This pattern may indicate strategic investments or expansions impacting asset base size and temporary inefficiencies that the company may be addressing.

Comparison to Competitors

AbbVie Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
AbbVie Inc. Amgen Inc. Bristol-Myers Squibb Co. Danaher Corp. Eli Lilly & Co. Gilead Sciences Inc. Johnson & Johnson Merck & Co. Inc. Pfizer Inc. Regeneron Pharmaceuticals Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2024 0.42 0.35 0.52 0.31 0.57 0.48 0.49 0.55 0.30 0.38 0.44 0.49
Dec 31, 2023 0.40 0.28 0.47 0.28 0.53 0.43 0.51 0.56 0.26 0.40 0.43 0.43
Dec 31, 2022 0.42 0.38 0.48 0.37 0.58 0.43 0.51 0.54 0.51 0.42 0.46 0.49
Dec 31, 2021 0.38 0.40 0.42 0.35 0.58 0.40 0.52 0.46 0.45 0.63 0.41 0.56
Dec 31, 2020 0.30 0.39 0.36 0.29 0.53 0.36 0.47 0.52 0.28 0.50 0.47 0.53
Dec 31, 2019 0.37 0.37 0.20 0.29 0.57 0.36 0.52 0.55 0.31 0.53 0.44 0.50
Dec 31, 2018 0.55 0.34 0.64 0.42 0.56 0.34 0.53 0.51 0.34 0.57 0.43 0.49
Dec 31, 2017 0.40 0.27 0.62 0.39 0.51 0.37 0.49 0.46 0.31 0.67 0.37 0.70
Dec 31, 2016 0.39 0.28 0.58 0.37 0.55 0.53 0.51 0.42 0.31 0.70 0.40 0.59
Dec 31, 2015 0.43 0.29 0.52 0.43 0.56 0.62 0.53 0.39 0.29 0.73 0.41 0.41
Dec 31, 2014 0.72 0.28 0.47 0.54 0.53 0.71 0.57 0.43 0.29 0.73 0.39 0.25
Dec 31, 2013 0.64 0.28 0.42 0.55 0.66 0.48 0.54 0.42 0.30 0.71 0.41 0.52
Dec 31, 2012 0.68 0.31 0.49 0.55 0.66 0.44 0.55 0.45 0.32 0.66 0.46 0.55

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

AbbVie Inc., total asset turnover, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
AbbVie Inc. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2024 0.42 0.43
Dec 31, 2023 0.40 0.40
Dec 31, 2022 0.42 0.47
Dec 31, 2021 0.38 0.45
Dec 31, 2020 0.30 0.39
Dec 31, 2019 0.37 0.39
Dec 31, 2018 0.55 0.45
Dec 31, 2017 0.40 0.40
Dec 31, 2016 0.39 0.41
Dec 31, 2015 0.43 0.42
Dec 31, 2014 0.72 0.44
Dec 31, 2013 0.64 0.43
Dec 31, 2012 0.68 0.45

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

Comparison to Industry (Health Care)

AbbVie Inc., total asset turnover, long-term trends, comparison to industry (health care)

Microsoft Excel
AbbVie Inc. Health Care
Dec 31, 2024 0.42 0.75
Dec 31, 2023 0.40 0.73
Dec 31, 2022 0.42 0.75
Dec 31, 2021 0.38 0.70
Dec 31, 2020 0.30 0.64
Dec 31, 2019 0.37 0.65
Dec 31, 2018 0.55 0.68
Dec 31, 2017 0.40 0.66
Dec 31, 2016 0.39 0.67
Dec 31, 2015 0.43 0.64
Dec 31, 2014 0.72 0.69
Dec 31, 2013 0.64 0.67
Dec 31, 2012 0.68 0.67

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).