Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

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Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

AbbVie Inc., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in millions
Common equity (market value)1
Add: Noncontrolling interest (per books)
Total equity
Add: Short-term borrowings (per books)
Add: Current portion of long-term debt and finance lease obligations (per books)
Add: Long-term debt and finance lease obligations, excluding current portion (per books)
Total equity and debt
Less: Cash and equivalents
Less: Short-term investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

AbbVie Inc., EV calculation

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Share price1, 2
No. shares of common stock outstanding1
US$ in millions
Common equity (market value)3
Add: Noncontrolling interest (book value)
Total equity
Add: Short-term borrowings (book value)
Add: Current portion of long-term debt and finance lease obligations (book value)
Add: Long-term debt and finance lease obligations, excluding current portion (book value)
Total equity and debt
Less: Cash and equivalents
Less: Short-term investments
Enterprise value (EV)

Based on: 10-K (reporting date: 2025-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of AbbVie Inc. Annual Report.

3 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


An upward trend is observed across all presented financial items from December 31, 2021, to December 31, 2025. The rate of increase appears to accelerate over the period, particularly from 2023 onwards. The relationship between total equity and debt, and enterprise value, suggests a consistent methodology in calculating the latter.

Common Equity (Market Value)
Common equity (market value) increased steadily, from US$254,754 million in 2021 to US$397,502 million in 2025. The largest year-over-year increase occurred between 2024 and 2025, with an increase of US$57,018 million.
Total Equity
Total equity mirrored the trend in common equity, rising from US$254,782 million in 2021 to US$397,544 million in 2025. The difference between common equity and total equity remains relatively small throughout the period, indicating a consistent capital structure.
Total Equity and Debt
The combined value of total equity and debt exhibited a consistent increase, moving from US$331,466 million in 2021 to US$465,040 million in 2025. While the value increased each year, the rate of increase was most pronounced between 2023 and 2025, suggesting a potential shift in financing strategy or increased investment.
Enterprise Value (EV)
Enterprise value increased from US$321,636 million in 2021 to US$459,783 million in 2025. The growth in EV closely tracks the growth in total equity and debt, which is expected given the typical EV calculation methodology. The largest absolute increase in EV occurred between 2024 and 2025, with an increase of US$57,671 million. This suggests increasing investor valuation of the company’s overall worth.

The consistent increases across all items suggest a period of sustained growth and increasing financial strength. The acceleration in growth from 2023 to 2025 warrants further investigation to determine the underlying drivers, such as increased profitability, strategic acquisitions, or changes in market conditions.