Analysis of Revenues
Revenues as Reported
Abbott Laboratories, income statement, revenues
US$ in millions
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).
Overall, net sales to external customers fluctuated over the five-year period, exhibiting an initial increase followed by a decline and subsequent recovery. A segment-level analysis reveals varying performance patterns across the company’s key business areas.
- Established Pharmaceutical Products
- This segment demonstrated consistent growth throughout the period, increasing from US$4,718 million in 2021 to US$5,536 million in 2025. This represents a cumulative increase of approximately 17.4% over the five years, indicating a stable and expanding revenue stream.
- Nutritional Products
- Nutritional Products experienced a decrease in revenue from US$8,294 million in 2021 to US$7,459 million in 2022. However, the segment rebounded, reaching US$8,451 million in 2025. While there was initial volatility, the segment ultimately surpassed its 2021 revenue level, showing a cumulative increase of approximately 2.0% over the period.
- Diagnostic Products
- Diagnostic Products exhibited a significant decline in revenue, decreasing from US$15,644 million in 2021 to US$8,937 million in 2025. This represents a substantial decrease of approximately 42.7% over the five-year period. The decline was particularly pronounced between 2022 and 2023.
- Medical Devices
- Medical Devices showed a consistent upward trend, increasing from US$14,367 million in 2021 to US$21,387 million in 2025. This represents a cumulative increase of approximately 48.8% over the five years, making it the fastest-growing segment. The growth accelerated in the later years of the period.
- Reportable Segments & Other
- The combined revenue from reportable segments mirrored the trend in net sales to external customers, with fluctuations observed throughout the period. The ‘Other’ category remained relatively stable, contributing a small and consistently minor portion of overall revenue, increasing from US$52 million to US$17 million.
The composition of revenue shifted considerably over the period. While Diagnostic Products represented a significant portion of revenue in 2021, its contribution diminished substantially by 2025. Conversely, Medical Devices increased its relative importance, becoming the largest revenue-generating segment by 2025. Established Pharmaceutical Products maintained a consistent contribution, while Nutritional Products showed a recovery after an initial decline.