Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

AbbVie Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net fixed asset turnover 10.89 11.76 11.00 8.73 11.23
Net fixed asset turnover (including operating lease, right-of-use asset) 9.47 10.24 9.57 7.46 10.06
Total asset turnover 0.40 0.42 0.38 0.30 0.37
Equity turnover 5.24 3.36 3.65 3.50

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. AbbVie Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). AbbVie Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. AbbVie Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. AbbVie Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Net Fixed Asset Turnover

AbbVie Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net revenues 54,318 58,054 56,197 45,804 33,266
Property and equipment, net 4,989 4,935 5,110 5,248 2,962
Long-term Activity Ratio
Net fixed asset turnover1 10.89 11.76 11.00 8.73 11.23
Benchmarks
Net Fixed Asset Turnover, Competitors2
Amgen Inc. 4.53 4.57 4.69 4.96 4.51
Bristol-Myers Squibb Co. 6.77 7.38 7.67 7.22 4.18
Danaher Corp. 5.25 7.96 7.77 6.83 7.78
Eli Lilly & Co. 2.64 2.81 3.15 2.83 2.83
Gilead Sciences Inc. 5.07 4.93 5.27 4.90 4.91
Johnson & Johnson 4.28 4.79 4.95 4.40 4.65
Merck & Co. Inc. 2.61 2.77 2.53 2.67 3.11
Moderna Inc. 3.43 9.14 14.24 0.67 0.00
Pfizer Inc. 3.09 6.17 5.46 3.01 3.71
Regeneron Pharmaceuticals Inc. 3.16 3.23 4.62 2.64 2.72
Thermo Fisher Scientific Inc. 4.54 4.84 4.71 5.45 5.38
Net Fixed Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 4.05 5.02 5.06 4.27 4.30
Net Fixed Asset Turnover, Industry
Health Care 10.13 10.62 10.44 9.62 9.73

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Net revenues ÷ Property and equipment, net
= 54,318 ÷ 4,989 = 10.89

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. AbbVie Inc. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

AbbVie Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net revenues 54,318 58,054 56,197 45,804 33,266
 
Property and equipment, net 4,989 4,935 5,110 5,248 2,962
Operating lease assets (included in Other assets) 744 737 762 895 344
Property and equipment, net (including operating lease, right-of-use asset) 5,733 5,672 5,872 6,143 3,306
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 9.47 10.24 9.57 7.46 10.06
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Amgen Inc. 4.08 4.13 4.23 4.58 4.11
Bristol-Myers Squibb Co. 5.60 6.18 6.66 6.30 3.76
Danaher Corp. 4.26 6.35 6.10 5.30 5.84
Eli Lilly & Co. 2.43 2.63 2.93 2.63 2.66
Gilead Sciences Inc. 4.57 4.51 4.77 4.34 4.28
Johnson & Johnson 4.07 4.54 4.72 4.18 4.41
Merck & Co. Inc. 2.45 2.60 2.33 2.43 2.90
Moderna Inc. 2.51 8.62 12.78 0.52 0.00
Pfizer Inc. 2.68 5.20 4.59 2.74 3.39
Regeneron Pharmaceuticals Inc. 3.11 3.17 4.52 2.58 2.66
Thermo Fisher Scientific Inc. 3.89 4.13 3.98 4.82 4.69
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Pharmaceuticals, Biotechnology & Life Sciences 3.65 4.52 4.54 3.88 3.93
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Health Care 8.26 8.57 8.28 7.55 7.63

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 54,318 ÷ 5,733 = 9.47

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). AbbVie Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Total Asset Turnover

AbbVie Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net revenues 54,318 58,054 56,197 45,804 33,266
Total assets 134,711 138,805 146,529 150,565 89,115
Long-term Activity Ratio
Total asset turnover1 0.40 0.42 0.38 0.30 0.37
Benchmarks
Total Asset Turnover, Competitors2
Amgen Inc. 0.28 0.38 0.40 0.39 0.37
Bristol-Myers Squibb Co. 0.47 0.48 0.42 0.36 0.20
Danaher Corp. 0.28 0.37 0.35 0.29 0.29
Eli Lilly & Co. 0.53 0.58 0.58 0.53 0.57
Gilead Sciences Inc. 0.43 0.43 0.40 0.36 0.36
Johnson & Johnson 0.51 0.51 0.52 0.47 0.52
Merck & Co. Inc. 0.56 0.54 0.46 0.52 0.55
Moderna Inc. 0.36 0.71 0.72 0.03 0.00
Pfizer Inc. 0.26 0.51 0.45 0.27 0.31
Regeneron Pharmaceuticals Inc. 0.40 0.42 0.63 0.50 0.53
Thermo Fisher Scientific Inc. 0.43 0.46 0.41 0.47 0.44
Total Asset Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.40 0.48 0.45 0.38 0.39
Total Asset Turnover, Industry
Health Care 0.80 0.81 0.76 0.70 0.71

Based on: 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).

1 2023 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 54,318 ÷ 134,711 = 0.40

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. AbbVie Inc. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Equity Turnover

AbbVie Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net revenues 54,318 58,054 56,197 45,804 33,266
Stockholders’ equity (deficit) 10,360 17,254 15,408 13,076 (8,172)
Long-term Activity Ratio
Equity turnover1 5.24 3.36 3.65 3.50
Benchmarks
Equity Turnover, Competitors2
Amgen Inc. 4.32 6.77 3.63 2.58 2.30
Bristol-Myers Squibb Co. 1.53 1.49 1.29 1.12 0.51
Danaher Corp. 0.45 0.63 0.65 0.56 0.59
Eli Lilly & Co. 3.17 2.68 3.15 4.35 8.56
Gilead Sciences Inc. 1.18 1.27 1.28 1.34 0.98
Johnson & Johnson 1.24 1.24 1.27 1.31 1.38
Merck & Co. Inc. 1.60 1.29 1.28 1.90 1.81
Moderna Inc. 0.48 0.96 1.25 0.08 0.00
Pfizer Inc. 0.66 1.05 1.05 0.66 0.82
Regeneron Pharmaceuticals Inc. 0.51 0.54 0.86 0.77 0.71
Thermo Fisher Scientific Inc. 0.92 1.02 0.96 0.93 0.86
Equity Turnover, Sector
Pharmaceuticals, Biotechnology & Life Sciences 1.15 1.25 1.28 1.23 1.20
Equity Turnover, Industry
Health Care 2.23 2.17 2.10 2.07 2.07

Based on: 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).

1 2023 Calculation
Equity turnover = Net revenues ÷ Stockholders’ equity (deficit)
= 54,318 ÷ 10,360 = 5.24

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. AbbVie Inc. equity turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.