greeksoup/ stock research
Stock research / United States / ABT / FY2022

Abbott Laboratories (ABT) FY2022 results: revenue $43.7 billion, up 1.3% on the year

Abbott Laboratories (ABT) reported revenue of $43.7 billion for fiscal 2022, the year ended 31 December 2022, up 1.3% on the year before. Net income was $6.9 billion, down 2.0%, and diluted earnings per share $3.91. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2023.

Revenue
$43.7 billion
+1.3% on the year
FY2015FY2022
Operating margin
19.2%
19.6% a year earlier
FY2015FY2022
Net income
$6.9 billion
-2.0% on the year
FY2015FY2022
Diluted EPS
$3.91
-0.8% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue43,65343,07534,608+1.3%
Cost of revenue19,14218,53715,003+3.3%
Gross profit24,51124,53819,605-0.1%
Gross margin56.1%57.0%56.6%
Research and development2,8882,7422,420+5.3%
Selling, general and administrative11,24811,3249,696-0.7%
Operating income8,3628,4255,357-0.7%
Operating margin19.2%19.6%15.5%
Interest expense558533546+4.7%
Pre-tax income8,3068,2114,968+1.2%
Income tax1,3731,140497+20.4%
Effective tax rate16.5%13.9%10.0%
Net income6,9337,0714,495-2.0%
Net margin15.9%16.4%13.0%
Diluted EPS$3.91$3.94$2.50-0.8%
$ 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

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow9,58110,5337,901-9.0%
Capital expenditure1,7771,8852,177-5.7%
Free cash flow7,8048,6485,724-9.8%
Free cash flow margin17.9%20.1%16.5%
Cash from investing-1,740-2,008-2,215
Cash from financing-7,636-5,494-2,779
Depreciation and amortisation3,2673,5383,327-7.7%
Share-based compensation685640546+7.0%
Buybacks3,7952,299403+65.1%
Dividends paid3,3093,2022,560+3.3%
Dividend per share$1.92n/an/a
Diluted shares, weighted1,764m1,789m1,786m-1.4%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity36,68635,80232,784+2.5%
Non-controlling interest219222219-1.4%
Short-term borrowingsn/a0.0n/a
Debt16,77318,05018,747-7.1%
Operating lease liabilities943956902-1.4%
Other liabilities19,81720,16619,896-1.7%
Total liabilities and equity74,43875,19672,548-1.0%
Fixed assets9,1628,9599,029+2.3%
Goodwill22,79923,23123,744-1.9%
Intangible assets10,45412,73914,784-17.9%
Investments1,0541,2661,131-16.7%
Cash and equivalents9,8829,7996,838+0.8%
Receivables6,2186,4876,414-4.1%
Inventory6,1735,1575,012+19.7%
Other assets8,6967,5585,596+15.1%
Total assets74,43875,19672,548-1.0%

10-K for the year ended 31 December 2022, filed 17 February 2023: the filing.