Abbott Laboratories (ABT) FY2017 results: revenue $27.4 billion, up 31.3% on the year
Abbott Laboratories (ABT) reported revenue of $27.4 billion for fiscal 2017, the year ended 31 December 2017, up 31.3% on the year before. Net income was $477 million, down 65.9%, and diluted earnings per share $0.27. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$27.4 billion
+31.3% on the year
FY2010FY2017
Operating margin
5.7%
14.5% a year earlier
FY2010FY2017
Net income
$477 million
-65.9% on the year
FY2010FY2017
Diluted EPS
$0.27
-71.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
27,390
20,853
20,405
+31.3%
Cost of revenue
12,409
9,094
8,747
+36.5%
Gross profit
14,981
11,759
11,658
+27.4%
Gross margin
54.7%
56.4%
57.1%
Research and development
2,260
1,447
1,405
+56.2%
Selling, general and administrative
9,182
6,736
6,785
+36.3%
Operating income
1,564
3,026
2,867
-48.3%
Operating margin
5.7%
14.5%
14.1%
Interest expense
904
431
163
+109.7%
Pre-tax income
2,231
1,413
3,183
+57.9%
Income tax
1,878
350
577
+436.6%
Effective tax rate
84.2%
24.8%
18.1%
Net income
477
1,400
4,423
-65.9%
Net margin
1.7%
6.7%
21.7%
Diluted EPS
$0.27
$0.94
$2.92
-71.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,570
3,203
2,966
+73.9%
Capital expenditure
1,135
1,121
1,110
+1.2%
Free cash flow
4,435
2,082
1,856
+113.0%
Free cash flow margin
16.2%
10.0%
9.1%
Cash from investing
-9,618
-248
406
Cash from financing
-5,281
11,147
-2,236
Depreciation and amortisation
3,021
1,353
1,472
+123.3%
Share-based compensation
406
310
292
+31.0%
Buybacks
117
522
2,237
-77.6%
Dividends paid
1,849
1,539
1,443
+20.1%
Diluted shares, weighted
1,749m
1,483m
1,506m
+17.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
30,897
20,538
21,211
+50.4%
Non-controlling interest
201
179
115
+12.3%
Debt
27,924
22,006
9,001
+26.9%
Other liabilities
17,228
9,943
10,920
+73.3%
Total liabilities and equity
76,250
52,666
41,247
+44.8%
Fixed assets
7,607
5,705
5,730
+33.3%
Goodwill
24,020
7,683
9,638
+212.6%
Intangible assets
21,473
4,539
5,562
+373.1%
Investments
1,086
3,102
5,165
-65.0%
Cash and equivalents
9,407
18,620
5,001
-49.5%
Receivables
5,249
3,248
3,418
+61.6%
Inventory
3,601
2,434
2,599
+47.9%
Other assets
3,807
7,335
4,134
-48.1%
Total assets
76,250
52,666
41,247
+44.8%
10-K for the year ended 31 December 2017, filed 22 February 2019: the filing.