Abbott Laboratories (ABT) FY2019 results: revenue $31.9 billion, up 4.3% on the year
Abbott Laboratories (ABT) reported revenue of $31.9 billion for fiscal 2019, the year ended 31 December 2019, up 4.3% on the year before. Net income was $3.7 billion, up 55.7%, and diluted earnings per share $2.06. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$31.9 billion
+4.3% on the year
FY2012FY2019
Operating margin
14.2%
11.9% a year earlier
FY2012FY2019
Net income
$3.7 billion
+55.7% on the year
FY2012FY2019
Diluted EPS
$2.06
+54.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
31,904
30,578
27,390
+4.3%
Cost of revenue
13,231
12,706
12,409
+4.1%
Gross profit
18,673
17,872
14,981
+4.5%
Gross margin
58.5%
58.4%
54.7%
Research and development
2,440
2,300
2,260
+6.1%
Selling, general and administrative
9,765
9,744
9,182
+0.2%
Operating income
4,532
3,650
1,564
+24.2%
Operating margin
14.2%
11.9%
5.7%
Interest expense
670
826
904
-18.9%
Pre-tax income
4,077
2,873
2,231
+41.9%
Income tax
390
539
1,878
-27.6%
Effective tax rate
9.6%
18.8%
84.2%
Net income
3,687
2,368
477
+55.7%
Net margin
11.6%
7.7%
1.7%
Diluted EPS
$2.06
$1.33
$0.27
+54.9%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,136
6,300
5,570
-2.6%
Capital expenditure
1,638
1,394
1,135
+17.5%
Free cash flow
4,498
4,906
4,435
-8.3%
Free cash flow margin
14.1%
16.0%
16.2%
Cash from investing
-1,815
-1,356
-9,618
Cash from financing
-4,289
-10,391
-5,281
Depreciation and amortisation
3,014
3,278
3,021
-8.1%
Share-based compensation
519
477
406
+8.8%
Buybacks
718
238
117
+201.7%
Dividends paid
2,270
1,974
1,849
+15.0%
Diluted shares, weighted
1,781m
1,770m
1,749m
+0.6%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
31,088
30,524
30,897
+1.8%
Non-controlling interest
213
198
201
+7.6%
Debt
18,139
19,566
27,924
-7.3%
Operating lease liabilities
755
n/a
n/a
Other liabilities
17,692
16,885
17,228
+4.8%
Total liabilities and equity
67,887
67,173
76,250
+1.1%
Fixed assets
8,038
7,563
7,607
+6.3%
Goodwill
23,195
23,254
24,020
-0.3%
Intangible assets
17,025
18,942
21,473
-10.1%
Investments
1,163
1,139
1,086
+2.1%
Cash and equivalents
3,860
3,844
9,407
+0.4%
Receivables
5,425
5,182
5,249
+4.7%
Inventory
4,316
3,796
3,601
+13.7%
Other assets
4,865
3,453
3,807
+40.9%
Total assets
67,887
67,173
76,250
+1.1%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.