Analysis of Inventory
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- Common-Size Balance Sheet: Assets
- Analysis of Geographic Areas
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- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
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Inventory Disclosure
Abbott Laboratories, balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Finished products | |||||||||||
| Work in process | |||||||||||
| Materials | |||||||||||
| Inventories |
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).
The composition of inventories exhibits varied trends over the five-year period. Overall inventory value increased initially, then stabilized, and showed a slight increase in the final year. A closer examination of the individual components reveals differing patterns.
- Finished Products
- The value of finished products increased from 2021 to 2022, reaching US$3,805 million. It remained relatively stable between 2022 and 2023, then decreased slightly in 2024 to US$3,700 million before increasing again in 2025 to US$3,976 million. This suggests a generally consistent demand for finished goods, with minor fluctuations.
- Work in Process
- Work in process inventory demonstrated a modest decrease from 2021 to 2022, followed by an increase in both 2023 and 2024. The value continued to rise in 2025, reaching US$904 million. This upward trend may indicate increased production activity or potentially inefficiencies in the production cycle, requiring further investigation.
- Materials
- The value of materials increased from 2021 to 2023, peaking at US$1,817 million. A decrease was observed in 2024, followed by a further, albeit smaller, decrease in 2025 to US$1,608 million. This suggests potential adjustments in raw material purchasing strategies or changes in material costs.
- Total Inventories
- Total inventory value increased from US$5,157 million in 2021 to US$6,173 million in 2022, representing a significant rise. Growth continued to US$6,570 million in 2023, but then decreased to US$6,194 million in 2024. The final year, 2025, saw a slight increase to US$6,488 million. The initial increase followed by stabilization and a modest final increase suggests a period of expansion followed by inventory management efforts and a return to moderate growth.
The combined trends indicate a dynamic inventory management environment. While overall inventory levels have remained relatively stable in recent years, the shifting values within each component—finished goods, work in process, and materials—warrant continued monitoring to understand the underlying operational and strategic factors influencing these changes.