AbbVie (ABBV) FY2015 results: revenue $22.9 billion, up 14.5% on the year
AbbVie Inc. (ABBV) reported revenue of $22.9 billion for fiscal 2015, the year ended 31 December 2015, up 14.5% on the year before. Net income was $5.1 billion, up 190.0%, and diluted earnings per share $3.13. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2016.
Revenue
$22.9 billion
+14.5% on the year
FY2011FY2015
Operating margin
33.0%
17.1% a year earlier
FY2011FY2015
Net income
$5.1 billion
+190.0% on the year
FY2011FY2015
Diluted EPS
$3.13
+184.5% on the year
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
22,859
19,960
18,790
+14.5%
Cost of revenue
4,500
4,426
4,581
+1.7%
Gross profit
18,359
15,534
14,209
+18.2%
Gross margin
80.3%
77.8%
75.6%
Research and development
4,285
3,297
2,855
+30.0%
Selling, general and administrative
6,387
7,724
5,352
-17.3%
Operating income
7,537
3,411
5,664
+121.0%
Operating margin
33.0%
17.1%
30.1%
Interest expense
719
429
299
+67.6%
Pre-tax income
6,645
2,369
5,332
+180.5%
Income tax
1,501
595
1,204
+152.3%
Effective tax rate
22.6%
25.1%
22.6%
Net income
5,144
1,774
4,128
+190.0%
Net margin
22.5%
8.9%
22.0%
Diluted EPS
$3.13
$1.10
$2.56
+184.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
7,535
3,549
6,267
+112.3%
Capital expenditure
532
612
491
-13.1%
Free cash flow
7,003
2,937
5,776
+138.4%
Free cash flow margin
30.6%
14.7%
30.7%
Depreciation and amortisation
836
786
897
+6.4%
Share-based compensation
282
241
212
+17.0%
Buybacks
7,586
665
320
+1,040.8%
Dividends paid
3,294
2,661
2,555
+23.8%
Dividend per share
$2.10
$1.75
$2.00
+20.0%
Diluted shares, weighted
1,637m
1,610m
1,604m
+1.7%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
3,945
1,742
4,492
+126.5%
Debt
31,671
14,977
14,723
+111.5%
Other liabilities
17,434
10,828
9,983
+61.0%
Total liabilities and equity
53,050
27,547
29,198
+92.6%
Fixed assets
2,565
2,485
2,298
+3.2%
Goodwill
13,168
5,862
6,277
+124.6%
Intangible assets
19,709
1,513
1,890
+1,202.6%
Investments
153
118
418
+29.7%
Cash and equivalents
8,399
8,348
9,595
+0.6%
Receivables
4,730
n/a
n/a
Inventory
1,719
1,124
1,150
+52.9%
Other assets
2,607
8,097
7,570
-67.8%
Total assets
53,050
27,547
29,198
+92.6%
10-K for the year ended 31 December 2015, filed 19 February 2016: the filing.