Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Abbott Laboratories, consolidated income statement (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The financial performance presented demonstrates fluctuating revenue and profitability over the analyzed period, spanning from March 2021 to December 2025. Net sales exhibited initial growth, peaking in December 2021, followed by a general decline through December 2022. A period of relative stabilization and modest growth occurred from March 2023 through December 2024, before showing further increases into the first half of 2025.
Gross profit mirrored the trend in net sales, with peaks and troughs corresponding to sales fluctuations. However, the rate of change in gross profit appeared somewhat dampened compared to net sales, suggesting potential shifts in cost of goods sold. Operating earnings followed a similar pattern, experiencing a peak in September 2021 and a subsequent decline before stabilizing and increasing again in late 2024 and early 2025.
- Revenue Trends
- Net sales increased from US$10,456 million in March 2021 to US$11,468 million in December 2021, representing a significant period of growth. This was followed by a decline to US$10,091 million in December 2022. From March 2023, sales showed a recovery, reaching US$11,459 million in December 2023 and continuing to US$11,369 million and US$11,459 million in June and December 2025 respectively.
- Cost of Goods Sold & Gross Margin
- Cost of products sold, excluding amortization, generally moved in tandem with net sales, but with some variability. The gross margin (Gross Profit / Net Sales) fluctuated, peaking at approximately 60.8% in September 2021 and declining to around 49.7% in June 2022. The gross margin recovered to approximately 61.6% in December 2025, indicating improved cost management or pricing power in recent periods.
- Operating Expense Management
- Selling, general, and administrative expenses remained relatively stable throughout the period, generally ranging between US$2.7 billion and US$3.1 billion per quarter. Research and development expenses also exhibited relative stability, with a slight upward trend towards the end of the analyzed period. The combined effect of these expenses impacted operating earnings, particularly during periods of lower net sales.
- Net Earnings & Profitability
- Net earnings mirrored the trends observed in operating earnings, with a peak of US$2,447 million in March 2022 and a subsequent decline. A notable anomaly occurred in December 2024, where net earnings reached US$9,229 million, significantly higher than any other period. This substantial increase appears to be driven by a large "Other income (expense), net" value of US$154 million, coupled with a substantial tax benefit. Excluding this outlier, net earnings generally ranged between US$1.1 billion and US$2.1 billion per quarter. The tax rate also fluctuated significantly, particularly in December 2024, impacting net earnings.
- Interest & Foreign Exchange
- Interest expense remained relatively consistent, while interest income showed an increasing trend, particularly in late 2022 and early 2023. Net foreign exchange gains and losses were variable, with a significant loss recorded in June 2023. These factors had a relatively minor impact on overall profitability compared to sales and cost of goods sold.
In summary, the financial performance demonstrated a cyclical pattern influenced by sales volume, cost management, and, in one instance, a significant non-operating item. The company experienced a period of growth followed by a decline, then a recovery, with recent quarters showing positive momentum. The substantial increase in net earnings in December 2024 warrants further investigation to understand the underlying drivers and sustainability of this result.