AbbVie (ABBV) FY2016 results: revenue $25.6 billion, up 12.2% on the year
AbbVie Inc. (ABBV) reported revenue of $25.6 billion for fiscal 2016, the year ended 31 December 2016, up 12.2% on the year before. Net income was $6.0 billion, up 15.7%, and diluted earnings per share $3.63. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$25.6 billion
+12.2% on the year
FY2011FY2016
Operating margin
36.4%
33.0% a year earlier
FY2011FY2016
Net income
$6.0 billion
+15.7% on the year
FY2011FY2016
Diluted EPS
$3.63
+16.0% on the year
FY2011FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
25,638
22,859
19,960
+12.2%
Cost of revenue
5,832
4,500
4,426
+29.6%
Gross profit
19,806
18,359
15,534
+7.9%
Gross margin
77.3%
80.3%
77.8%
Research and development
4,385
4,285
3,297
+2.3%
Selling, general and administrative
5,881
6,387
7,724
-7.9%
Operating income
9,340
7,537
3,411
+23.9%
Operating margin
36.4%
33.0%
17.1%
Interest expense
1,047
719
429
+45.6%
Pre-tax income
7,884
6,645
2,369
+18.6%
Income tax
1,931
1,501
595
+28.6%
Effective tax rate
24.5%
22.6%
25.1%
Net income
5,953
5,144
1,774
+15.7%
Net margin
23.2%
22.5%
8.9%
Diluted EPS
$3.63
$3.13
$1.10
+16.0%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
7,041
7,535
3,549
-6.6%
Capital expenditure
479
532
612
-10.0%
Free cash flow
6,562
7,003
2,937
-6.3%
Free cash flow margin
25.6%
30.6%
14.7%
Cash from financing
-3,928
n/a
n/a
Depreciation and amortisation
1,189
836
786
+42.2%
Share-based compensation
353
282
241
+25.2%
Buybacks
6,033
7,586
665
-20.5%
Dividends paid
3,717
3,294
2,661
+12.8%
Dividend per share
$2.35
$2.10
$1.75
+11.9%
Diluted shares, weighted
1,631m
1,637m
1,610m
-0.4%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,636
3,945
1,742
+17.5%
Debt
36,842
31,671
14,977
+16.3%
Other liabilities
24,621
17,434
10,828
+41.2%
Total liabilities and equity
66,099
53,050
27,547
+24.6%
Fixed assets
2,604
2,565
2,485
+1.5%
Goodwill
15,416
13,168
5,862
+17.1%
Intangible assets
28,897
19,709
1,513
+46.6%
Investments
3,106
153
118
+1,930.1%
Cash and equivalents
5,100
8,399
8,348
-39.3%
Receivables
4,758
4,730
n/a
+0.6%
Inventory
1,444
1,719
1,124
-16.0%
Other assets
4,774
2,607
8,097
+83.1%
Total assets
66,099
53,050
27,547
+24.6%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.