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, 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: 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 financial data displays notable fluctuations across the examined time periods. The net sales generally exhibited a growth trend from 2005 through 2012, increasing from 22,338 million US dollars to a peak of 39,874 million US dollars. However, this upward trajectory was interrupted by a sharp decline in 2013 and 2014, where net sales dropped to 21,848 million and 20,247 million US dollars respectively. After these years, sales stabilized and gradually increased again, reaching a high of 43,075 million US dollars by 2021, followed by a slight decrease and subsequent recovery towards 2024.
Operating earnings followed a somewhat volatile pattern with several pronounced shifts. Starting at 4,362 million US dollars in 2005, there was a significant dip in 2006 to 2,042 million US dollars, followed by a strong recovery and increase through 2008 to 5,694 million US dollars. The numbers then plateaued with slight fluctuations until 2012, where a peak of 8,085 million US dollars was observed. This was followed by a steep decline in 2013 and 2014, similar to the sales trend. From 2016 onward, operating earnings showed a general upward trend, peaking at 8,425 million US dollars in 2021, before experiencing another downturn in 2023 and a mild recovery in 2024.
Net earnings have demonstrated the most pronounced variability among the three metrics. Initially, net earnings declined sharply from 3,372 million US dollars in 2005 to 1,717 million in 2006, then rebounded in the following years, peaking at 5,963 million US dollars in 2012. A marked decrease was then noted through 2014, with net earnings falling to as low as 477 million US dollars in 2017. A steady recovery began after this point, culminating in a peak value of 7,071 million US dollars in 2021. However, a decline followed in 2023, before net earnings surged to an exceptional value of 13,402 million US dollars by the end of 2024.
- Net Sales
- Exhibited a general upward trend with intermittent periods of decline, notably between 2013 and 2014. Recovery was evident post-2014, achieving the highest values near 2021 before stabilization.
- Operating Earnings
- Displayed pronounced volatility, aligning somewhat with sales trends but with sharper rises and falls, especially around 2006, 2012, and during the 2013–2014 downturn. The post-2016 period showed a recovery trend.
- Net Earnings
- Were the most variable, with sharp year-over-year declines and recoveries. The data suggests periods of financial stress or restructuring around mid-2010s, followed by strong growth leading to a remarkable increase in 2024.
Overall, the data suggests cyclical challenges impacting profitability and sales in the mid-2010s, followed by strategic recovery efforts leading to improved financial performance. The sharp increase in net earnings in the final year could indicate an extraordinary event or adjustment. The correlation between operating earnings and net sales is generally strong, but net earnings have shown higher sensitivity to operational and possibly non-operational factors.
Balance Sheet: Assets
Abbott Laboratories, selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| 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: 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 analysis of the available annual financial data reveals distinct patterns and trends in asset management over the observed periods.
- Current Assets
- The value of current assets shows fluctuations through the years. From 2005 to 2009, there was a clear increasing trend, with current assets rising from approximately 11.4 billion USD to about 23.3 billion USD. This upward momentum peaked in 2009, followed by a slight decline and some variability in the next several years. Notably, 2012 experienced a significant surge to approximately 31.3 billion USD, which was the highest point in the series. Afterwards, current assets experienced sharp decreases and increases, showing volatility between 2013 and 2016. From 2016 onward, current assets generally ranged between 15.6 billion and 25.2 billion USD, ending at 23.7 billion USD in 2024. Overall, recent years reflect relative stabilization in current asset values compared to the earlier extreme variations.
- Total Assets
- Total assets depict a consistent long-term upward trend, albeit with some fluctuations. Beginning at around 29.1 billion USD in 2005, total assets rose steadily to a peak of approximately 67.2 billion USD in 2012. Following that peak, total assets briefly decreased and fluctuated in the mid-40 to mid-50 billion USD range from 2013 to 2016. After 2016, there was a pronounced recovery and growth phase, with total assets rising sharply to over 76 billion USD by 2017, then slightly declining and fluctuating but staying in the range of approximately 73 to 75 billion USD from 2018 through 2022. In the final two years, total assets experienced a notable increase, reaching over 81 billion USD by the end of 2024.
- Comparative Observations
- Comparing current assets to total assets, it is notable that while total assets have grown more consistently, current assets have shown more volatility. The significant spike in current assets in 2012 contrasts with a more gradual increase in total assets at the same time. The total assets' steady and substantial increase in recent years suggests investments or acquisitions that have enhanced the company’s asset base beyond the level of current assets alone. The overall data indicate effective asset growth strategies with some fluctuations in short-term asset liquidity or composition.
- Summary
- The financial trajectory suggests strong asset growth with certain periods of volatility in current assets. Total asset expansion reflects long-term investment and growth, whereas the variability in current assets may point to changing operational needs or liquidity management strategies. The trends indicate a generally positive asset development, with stabilization efforts visible in the latest years, reinforcing the company’s financial foundation.
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, 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: 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 analysis of the financial data reveals several notable trends in the company's financial position over the period under review.
- Current liabilities
- Current liabilities exhibited considerable fluctuation over the years. Starting at 7,416 million US dollars in 2005, the figure increased significantly, peaking at 17,262 million US dollars in 2010. Following this peak, current liabilities generally declined, reaching a low of 6,660 million US dollars in 2016, before climbing again to 15,489 million US dollars in 2022. In the two most recent years, the values evolved slightly downward, ending at 14,157 million US dollars in 2024.
- Total debt
- Total debt showed a varied pattern without a consistent upward or downward trajectory. It rose from 6,634 million US dollars in 2005 to a high of 27,924 million US dollars in 2017, indicating a decade of expanding debt levels. However, from 2017 onward, total debt demonstrated a declining trend, dropping to 14,125 million US dollars by 2024. This suggests a strategic reduction in leverage or improved debt management in recent years.
- Total Abbott shareholders’ investment
- The total shareholders’ investment steadily increased over the period. Beginning at 14,415 million US dollars in 2005, shareholders’ equity grew moderately to around 22,388 million US dollars in 2010. Subsequently, it continued a generally upward path, with some fluctuations, notably a significant rise from 20,538 million US dollars in 2016 to 30,897 million US dollars in 2017. The growth trend persisted, culminating in a substantial increase to 47,664 million US dollars in 2024, indicating strengthened shareholder value and potentially increased retained earnings or capital injections.
Overall, the data points to a company that experienced periods of increased liabilities and debt, followed by deliberate repayment or reduction strategies. Concurrently, equity positions grew consistently, reflecting improved capitalization and potentially greater financial stability.
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, 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: 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 data reveals distinct trends in the company’s cash flow components over the period from 2005 to 2024. Each category—operating, investing, and financing activities—shows varying patterns that provide insights into the company’s financial management and strategy.
- Net Cash from Operating Activities
- This category generally exhibits a positive cash flow throughout the entire period, indicating consistent cash generation from core business operations. Starting in 2005 with US$5,047 million, the cash inflow from operating activities generally increased, peaking at US$10,533 million in 2021. There is a notable dip in 2013 to US$3,324 million, followed by a recovery and subsequent strong increases through 2021. After 2021, cash from operations decreased to US$7,261 million in 2023 but rebounded to US$8,558 million in 2024. Overall, the trend suggests robust operational performance with some fluctuations likely due to external or internal influences.
- Net Cash (Used in) From Investing Activities
- Investing cash flows are predominantly negative, indicating ongoing investment expenditures, which could include capital expenditures, acquisitions, or other investments. Exceptions occur in 2011 and 2014 when cash flow from investing activities turned positive, suggesting asset sales or divestitures. Large negative outflows are observed around 2006 (US$-11,398 million) and 2010 (US$-12,188 million), reflecting considerable investment activity during those years. The magnitude of investing cash outflows tends to moderate in more recent years, though it remains negative every year except the mentioned exceptions, showing continuous investment but with some stabilization in cash used for investing purposes since around 2015.
- Net Cash from (Used in) Financing Activities
- The financing activities exhibit more volatility with both positive and negative cash flows over the years. Positive cash flows in financing activities in years such as 2006 (US$3,622 million), 2009 (US$1,002 million), 2012 (US$716 million), and 2016 (US$11,147 million) indicate periods when the company raised capital through debt or equity issuance. Conversely, significant negative cash flows, including -US$6,023 million in 2011 and -US$10,391 million in 2018, suggest substantial repayments of debt, dividend payments, or share buybacks. The latter part of the period, from 2017 to 2024, shows predominantly negative financing cash flows, indicating a possible focus on reducing liabilities or returning capital to shareholders rather than raising additional funds.
In summary, the company maintains strong operational cash generation consistently, supporting its financial flexibility. Investing activities reflect sustained investment with periods of asset rationalization. Financing activities show active capital management with notable shifts from capital raising to debt reduction and capital return in recent years. The overall cash flow patterns suggest a mature company balancing growth investments with prudent financial management and shareholder returns.
Per Share Data
Abbott Laboratories, selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 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: 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 analysis of the financial data over the period shows various trends in earnings per share and dividend payments.
- Basic and Diluted Earnings Per Share (EPS)
- Both basic and diluted EPS demonstrate similar patterns throughout the years, indicating consistent reporting and minimal dilution effects. From 2005 to 2008, EPS increased steadily, reaching a peak in 2008 with basic EPS at 3.16 US$. However, a notable decrease followed between 2008 and 2009, with EPS peaking again in 2012 but with a significant drop in 2013 to approximately half, reflecting a downward trend for the subsequent years until 2016, where EPS fell to the lowest point in the period (around 0.27 US$ basic EPS).
- Starting 2017, EPS began a recovery trajectory, steadily increasing from 1.34 US$ basic EPS in 2018 to a substantial rise by 2024, reaching 7.67 US$, a notable peak that exceeds previous highs. This trend highlights a significant improvement in earnings performance in the latter years.
- Dividend Per Share
- Dividends per share show a generally upward trend across the entire timeline, signifying a commitment to returning value to shareholders. Beginning at 1.1 US$ in 2005, dividends steadily increased to 1.92 US$ by 2018, with a few minor fluctuations. After a small dip observed around 2012-2013, dividends resumed growth continuously, reaching 2.24 US$ by 2024.
- This consistently rising dividend trend despite earnings volatility suggests a stable dividend policy with a focus on shareholder return, possibly supported by cash flow stability or strategic retention of earnings.
- General Observations
- The disparity between earnings and dividend trends indicates that while earnings saw fluctuations, especially a marked decline between 2012 and 2016, dividends were maintained and increased, which could imply strong underlying financial health or effective management strategies to preserve investor confidence.
- The substantial earnings growth in the last periods may reflect operational improvements, successful product launches, or favorable market conditions. This recovery and growth phase coincides with increasing dividends, suggesting a balanced approach to growth and shareholder remuneration.