Selected Financial Data
since 2005
Income Statement
Abbott Laboratories, selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Net sales | Operating earnings | Net earnings |
|---|---|---|---|
| Dec 31, 2025 | 44,328) | 8,053) | 6,524) |
| Dec 31, 2024 | 41,950) | 6,825) | 13,402) |
| Dec 31, 2023 | 40,109) | 6,478) | 5,723) |
| Dec 31, 2022 | 43,653) | 8,362) | 6,933) |
| Dec 31, 2021 | 43,075) | 8,425) | 7,071) |
| Dec 31, 2020 | 34,608) | 5,357) | 4,495) |
| Dec 31, 2019 | 31,904) | 4,532) | 3,687) |
| Dec 31, 2018 | 30,578) | 3,650) | 2,368) |
| Dec 31, 2017 | 27,390) | 1,726) | 477) |
| Dec 31, 2016 | 20,853) | 3,185) | 1,400) |
| Dec 31, 2015 | 20,405) | 2,867) | 4,423) |
| Dec 31, 2014 | 20,247) | 2,599) | 2,284) |
| Dec 31, 2013 | 21,848) | 2,629) | 2,576) |
| Dec 31, 2012 | 39,874) | 8,085) | 5,963) |
| Dec 31, 2011 | 38,851) | 5,752) | 4,728) |
| Dec 31, 2010 | 35,167) | 6,088) | 4,626) |
| Dec 31, 2009 | 30,765) | 6,236) | 5,746) |
| Dec 31, 2008 | 29,528) | 5,694) | 4,881) |
| Dec 31, 2007 | 25,914) | 4,579) | 3,606) |
| Dec 31, 2006 | 22,476) | 2,042) | 1,717) |
| Dec 31, 2005 | 22,338) | 4,362) | 3,372) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Net sales exhibited a generally increasing trend from 2005 to 2020, followed by fluctuations. Initial growth from US$22.338 billion in 2005 to US$34.608 billion in 2020 was punctuated by a significant decline in 2013 and 2014, before recovering. A substantial increase in net sales occurred between 2020 and 2021, reaching US$43.075 billion, followed by a slight decrease in 2022 and a further increase in 2023 and 2024. Operating earnings demonstrated more volatility. While increasing from 2005 to 2008, they experienced a sharp decline in 2006 and again in 2011. A period of recovery followed, but operating earnings fell dramatically in 2015 and 2016 before showing improvement in subsequent years. Net earnings mirrored the volatility of operating earnings, with a significant drop in 2015 and 2016, and a substantial surge in 2021, peaking at US$13.402 billion, before declining in 2023 and 2024.
- Net Sales Trend
- From 2005 to 2020, net sales generally increased, indicating overall business expansion. The dip in 2013 and 2014 suggests potential challenges during those periods, possibly related to market conditions or company-specific factors. The strong growth in 2021 is notable, potentially driven by increased demand or new product launches. The subsequent fluctuations suggest a sensitivity to external factors or cyclical trends.
- Operating Earnings Volatility
- Operating earnings exhibited considerable fluctuation throughout the period. The decline in 2006 and 2011 could be attributed to increased operating costs, decreased gross margins, or unfavorable market conditions. The recovery in subsequent years suggests successful cost management or improved market positioning. The sharp decline in 2015 and 2016 warrants further investigation, potentially related to restructuring costs or significant investments.
- Net Earnings Correlation with Operating Earnings
- Net earnings closely followed the trend of operating earnings, demonstrating a strong correlation. This indicates that changes in operating performance directly impacted the company’s bottom line. The exceptional net earnings in 2021, significantly higher than previous years, likely resulted from a combination of increased sales and improved operational efficiency. The declines in 2023 and 2024 suggest a reversal of these positive trends.
- Overall Performance
- The period from 2005 to 2025 demonstrates a company navigating a dynamic business environment. While long-term revenue growth is evident, profitability, as measured by operating and net earnings, has been inconsistent. The significant fluctuations in earnings suggest the company is susceptible to external economic factors or internal operational challenges. The recent performance in 2023 and 2024 indicates a potential shift in the company’s trajectory, requiring further monitoring.
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Balance Sheet: Assets
Abbott Laboratories, selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2025 | 25,996) | 86,713) |
| Dec 31, 2024 | 23,656) | 81,414) |
| Dec 31, 2023 | 22,670) | 73,214) |
| Dec 31, 2022 | 25,224) | 74,438) |
| Dec 31, 2021 | 24,239) | 75,196) |
| Dec 31, 2020 | 20,441) | 72,548) |
| Dec 31, 2019 | 15,667) | 67,887) |
| Dec 31, 2018 | 14,632) | 67,173) |
| Dec 31, 2017 | 20,147) | 76,250) |
| Dec 31, 2016 | 26,776) | 52,666) |
| Dec 31, 2015 | 14,155) | 41,247) |
| Dec 31, 2014 | 15,261) | 41,275) |
| Dec 31, 2013 | 19,247) | 42,953) |
| Dec 31, 2012 | 31,323) | 67,235) |
| Dec 31, 2011 | 23,769) | 60,277) |
| Dec 31, 2010 | 22,318) | 59,462) |
| Dec 31, 2009 | 23,314) | 52,417) |
| Dec 31, 2008 | 17,043) | 42,419) |
| Dec 31, 2007 | 14,043) | 39,714) |
| Dec 31, 2006 | 11,282) | 36,178) |
| Dec 31, 2005 | 11,386) | 29,141) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Over the period examined, both current assets and total assets exhibited considerable fluctuation. Initial growth was followed by periods of contraction and subsequent expansion, indicating a dynamic asset structure.
- Current Assets Trend
- Current assets demonstrated an initial decrease from 11,386 in 2005 to 11,282 in 2006. A significant increase followed, rising to 14,043 by 2007 and peaking at 31,323 in 2012. A substantial decline was then observed, falling to 15,261 in 2014. From 2014 to 2016, current assets increased notably to 26,776, before decreasing again to 14,632 in 2018. A moderate recovery occurred through 2021, reaching 24,239, followed by a slight decrease in 2022 and a further increase to 25,996 in 2025. This pattern suggests sensitivity to operational cycles and potentially strategic shifts in working capital management.
- Total Assets Trend
- Total assets increased substantially from 29,141 in 2005 to 36,178 in 2006, and continued to grow, reaching 52,417 by 2009. A significant peak was observed in 2011 at 60,277, followed by a considerable decrease to 42,953 in 2013. A period of growth ensued, with total assets reaching 76,250 in 2017. A subsequent decline to 67,173 in 2018 was followed by relative stability through 2020. From 2020 to 2025, total assets increased from 72,548 to 86,713, indicating a renewed period of expansion. The fluctuations in total assets likely reflect acquisitions, divestitures, and overall business investment strategies.
- Relationship Between Current and Total Assets
- The proportion of current assets to total assets varied over the period. In 2005, current assets represented approximately 39.1% of total assets. This percentage generally increased through 2012, peaking at around 47.1%. The ratio then decreased, falling to approximately 26.8% in 2014. While fluctuating, the ratio generally trended upwards again from 2014 to 2025, reaching approximately 31.6% in the final year. This suggests a changing emphasis on liquid assets relative to the overall asset base.
The observed trends indicate a company that has undergone periods of significant growth, contraction, and restructuring. The fluctuations in both current and total assets suggest a dynamic business environment and potentially active management of the asset portfolio.
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Balance Sheet: Liabilities and Stockholders’ Equity
Abbott Laboratories, selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total debt | Total Abbott shareholders’ investment | |
|---|---|---|---|
| Dec 31, 2025 | 16,496) | 12,929) | 52,130) |
| Dec 31, 2024 | 14,157) | 14,125) | 47,664) |
| Dec 31, 2023 | 13,841) | 14,679) | 38,603) |
| Dec 31, 2022 | 15,489) | 16,773) | 36,686) |
| Dec 31, 2021 | 13,105) | 18,050) | 35,802) |
| Dec 31, 2020 | 11,907) | 18,747) | 32,784) |
| Dec 31, 2019 | 10,863) | 18,139) | 31,088) |
| Dec 31, 2018 | 9,012) | 19,566) | 30,524) |
| Dec 31, 2017 | 8,912) | 27,924) | 30,897) |
| Dec 31, 2016 | 6,660) | 22,006) | 20,538) |
| Dec 31, 2015 | 9,186) | 9,001) | 21,211) |
| Dec 31, 2014 | 10,532) | 7,845) | 21,526) |
| Dec 31, 2013 | 9,507) | 6,561) | 25,171) |
| Dec 31, 2012 | 13,280) | 20,476) | 26,721) |
| Dec 31, 2011 | 15,480) | 15,415) | 24,440) |
| Dec 31, 2010 | 17,262) | 18,918) | 22,388) |
| Dec 31, 2009 | 13,049) | 16,456) | 22,856) |
| Dec 31, 2008 | 11,592) | 11,445) | 17,480) |
| Dec 31, 2007 | 9,103) | 12,214) | 17,779) |
| Dec 31, 2006 | 11,951) | 12,411) | 14,054) |
| Dec 31, 2005 | 7,416) | 6,634) | 14,415) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
An examination of the provided financial information reveals notable trends in the company’s liabilities and stockholders’ equity between 2005 and 2025. Current liabilities exhibited considerable fluctuation over the period, while total debt demonstrated a more complex pattern of increase and decrease. Stockholders’ equity generally trended upward, though not without periods of decline.
- Current Liabilities
- Current liabilities increased significantly from 2005 to 2006, nearly doubling from US$7.4 billion to US$11.9 billion. Following this increase, a decrease was observed in 2007, but liabilities rose again, peaking at US$17.3 billion in 2010. Subsequent years saw a general decline, reaching a low of US$6.7 billion in 2016. A subsequent increase occurred, reaching US$15.5 billion in 2022 before decreasing to US$13.8 billion in 2023 and increasing again to US$16.5 billion in 2025. This suggests a cyclical pattern influenced by operational needs and financing activities.
- Total Debt
- Total debt experienced a substantial increase between 2005 and 2009, rising from US$6.6 billion to US$16.5 billion. A decrease followed in 2010, and debt levels fluctuated considerably between 2011 and 2015. A significant increase occurred between 2015 and 2017, reaching US$27.9 billion. Subsequently, the company reduced its debt burden, falling to US$14.7 billion by 2022. The trend continued downward, reaching US$12.9 billion in 2025. This pattern may reflect strategic decisions regarding debt financing, acquisitions, or divestitures.
- Total Stockholders’ Investment
- Total stockholders’ investment generally increased over the period. From 2005 to 2009, it rose from US$14.4 billion to US$22.9 billion. A slight decrease was observed in 2010, but equity continued to grow, reaching US$26.7 billion in 2012. A dip occurred in 2014, falling to US$21.5 billion, but equity rebounded strongly, reaching US$30.9 billion in 2017. Continued growth was observed through 2025, culminating in US$52.1 billion. This indicates a consistent return of value to shareholders and potentially reinvestment of earnings.
The interplay between these three items suggests a dynamic financial strategy. Periods of increased debt were often accompanied by increases in stockholders’ equity, potentially indicating the use of debt to fund growth initiatives that generated returns for investors. The fluctuations in current liabilities likely reflect the company’s working capital management and short-term financing needs. Overall, the company demonstrated a capacity to manage its liabilities and grow its equity base over the analyzed timeframe.
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Cash Flow Statement
Abbott Laboratories, selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash from operating activities | Net cash (used in) from investing activities | Net cash from (used in) financing activities |
|---|---|---|---|
| Dec 31, 2025 | 9,566) | (2,422) | (6,309) |
| Dec 31, 2024 | 8,558) | (2,338) | (5,404) |
| Dec 31, 2023 | 7,261) | (3,133) | (7,091) |
| Dec 31, 2022 | 9,581) | (1,740) | (7,636) |
| Dec 31, 2021 | 10,533) | (2,008) | (5,494) |
| Dec 31, 2020 | 7,901) | (2,215) | (2,779) |
| Dec 31, 2019 | 6,136) | (1,815) | (4,289) |
| Dec 31, 2018 | 6,300) | (1,356) | (10,391) |
| Dec 31, 2017 | 5,570) | (9,618) | (5,281) |
| Dec 31, 2016 | 3,203) | (248) | 11,147) |
| Dec 31, 2015 | 2,966) | 406) | (2,236) |
| Dec 31, 2014 | 3,675) | (202) | (2,742) |
| Dec 31, 2013 | 3,324) | (3,929) | (6,696) |
| Dec 31, 2012 | 9,314) | (6,081) | 716) |
| Dec 31, 2011 | 8,970) | 261) | (6,023) |
| Dec 31, 2010 | 8,736) | (12,188) | (1,088) |
| Dec 31, 2009 | 7,275) | (3,699) | 1,002) |
| Dec 31, 2008 | 6,995) | (2,087) | (3,486) |
| Dec 31, 2007 | 5,184) | (1,136) | (2,313) |
| Dec 31, 2006 | 5,262) | (11,398) | 3,622) |
| Dec 31, 2005 | 5,047) | (720) | (2,592) |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The period between 2005 and 2025 demonstrates significant fluctuations in the company’s cash flow activities. Overall, operating cash flow exhibits a generally positive trend, though with considerable volatility, while investing and financing activities show more pronounced shifts between cash generation and consumption.
- Operating Activities
- Net cash from operating activities began at US$5,047 million in 2005 and generally increased through 2011, peaking at US$8,970 million. A substantial decrease occurred in 2013, falling to US$3,324 million, followed by a period of moderate recovery. From 2020 onwards, operating cash flow experienced a significant surge, reaching US$10,533 million in 2021 before decreasing to US$9,566 million in 2025. This suggests a strong underlying business generating cash, but subject to periodic disruptions or significant changes in working capital.
- Investing Activities
- Net cash used in investing activities was consistently negative throughout the period, indicating ongoing investments. The largest outflow occurred in 2006 at US$11,398 million, likely due to a major acquisition or series of investments. A notable positive inflow of US$261 million was observed in 2011, potentially from asset sales. From 2018 to 2025, the outflows remained relatively stable, ranging from approximately US$1,740 million to US$3,133 million annually. The consistent negative cash flow suggests a continuous investment strategy, potentially focused on maintaining or expanding operational capacity.
- Financing Activities
- Net cash from financing activities displayed the most erratic pattern. Significant inflows were observed in 2006 (US$3,622 million) and 2016 (US$11,147 million), likely representing debt issuance or equity raises. Conversely, substantial outflows occurred in 2005 (US$2,592 million), 2009 (US$3,486 million), 2011 (US$6,023 million), 2018 (US$10,391 million), and 2022 (US$7,636 million), likely due to debt repayment, share repurchases, or dividend payments. The large inflow in 2016 followed by significant outflows in subsequent years suggests a period of capital raising followed by its deployment. The trend from 2022 to 2025 shows consistent negative cash flow, indicating a focus on returning capital to investors or reducing debt.
The interplay between these three activities reveals a dynamic financial strategy. Periods of strong operating cash flow were often accompanied by significant investing and financing activities, suggesting the company actively manages its capital structure and invests in future growth. The volatility in financing activities indicates a flexible approach to capital markets, adapting to changing business needs and opportunities.
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Per Share Data
Abbott Laboratories, selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2025 | 3.73 | 3.72 | 2.40 |
| Dec 31, 2024 | 7.67 | 7.64 | 2.24 |
| Dec 31, 2023 | 3.28 | 3.26 | 2.08 |
| Dec 31, 2022 | 3.94 | 3.91 | 1.92 |
| Dec 31, 2021 | 3.97 | 3.94 | 1.82 |
| Dec 31, 2020 | 2.52 | 2.50 | 1.53 |
| Dec 31, 2019 | 2.07 | 2.06 | 1.32 |
| Dec 31, 2018 | 1.34 | 1.33 | 1.16 |
| Dec 31, 2017 | 0.27 | 0.27 | 1.08 |
| Dec 31, 2016 | 0.94 | 0.94 | 1.05 |
| Dec 31, 2015 | 2.94 | 2.92 | 0.98 |
| Dec 31, 2014 | 1.50 | 1.49 | 0.90 |
| Dec 31, 2013 | 1.64 | 1.62 | 0.64 |
| Dec 31, 2012 | 3.76 | 3.72 | 1.67 |
| Dec 31, 2011 | 3.03 | 3.01 | 1.92 |
| Dec 31, 2010 | 2.98 | 2.96 | 1.76 |
| Dec 31, 2009 | 3.71 | 3.69 | 1.60 |
| Dec 31, 2008 | 3.16 | 3.12 | 1.44 |
| Dec 31, 2007 | 2.34 | 2.31 | 1.30 |
| Dec 31, 2006 | 1.12 | 1.12 | 1.18 |
| Dec 31, 2005 | 2.17 | 2.16 | 1.10 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
The per share financial information reveals distinct trends in earnings and dividends over the period from 2005 to 2025. Basic and diluted earnings per share exhibit considerable fluctuation, while dividend per share demonstrates a generally increasing trajectory, albeit with some interruptions.
- Earnings Per Share (Basic & Diluted)
- From 2005 to 2007, basic earnings per share increased from $2.17 to $2.34, followed by a rise to $3.16 in 2008. A subsequent increase to $3.71 was observed in 2009, before declining to $2.98 in 2010. The years 2011 and 2012 showed relative stability around $3.00 and $3.70 respectively. A significant decrease occurred in 2013, falling to $1.64, and remained subdued in 2014 at $1.50. Earnings rebounded notably in 2015 to $2.94, but experienced a sharp contraction in 2016 to $0.94, continuing to a low of $0.27 in 2017. A recovery began in 2018 with $1.34, accelerating through 2019 ($2.07) and 2020 ($2.52). Further growth was seen in 2021 ($3.97) and 2022 ($3.94), before a substantial increase to $7.67 in 2023. A considerable decline to $3.73 was noted in 2024, followed by a further decrease to $3.72 in 2025. Diluted earnings per share mirrored this pattern closely throughout the period.
- Dividend Per Share
- Dividend per share generally increased from $1.10 in 2005 to $1.32 in 2019, demonstrating consistent growth. A moderate increase continued through 2021, reaching $1.82. The dividend increased further to $1.92 in 2022, $2.08 in 2023, and $2.40 in 2025. The only notable deviation from this upward trend was a decrease to $1.67 in 2012.
The disparity between earnings per share and dividend per share is apparent. While earnings per share experienced significant volatility, the dividend per share exhibited a more stable, upward trend. This suggests a commitment to maintaining or increasing shareholder returns even during periods of lower profitability. The substantial earnings increase in 2023 did not translate into a proportional increase in dividends, potentially indicating strategic reinvestment of earnings or a conservative approach to dividend policy.
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