Abbott Laboratories (ABT) FY2023 results: revenue $40.1 billion, down 8.1% on the year
Abbott Laboratories (ABT) reported revenue of $40.1 billion for fiscal 2023, the year ended 31 December 2023, down 8.1% on the year before. Net income was $5.7 billion, down 17.5%, and diluted earnings per share $3.26. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$40.1 billion
-8.1% on the year
FY2016FY2023
Operating margin
16.2%
19.2% a year earlier
FY2016FY2023
Net income
$5.7 billion
-17.5% on the year
FY2016FY2023
Diluted EPS
$3.26
-16.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
7,261
9,581
10,533
-24.2%
Capital expenditure
2,202
1,777
1,885
+23.9%
Free cash flow
5,059
7,804
8,648
-35.2%
Free cash flow margin
12.6%
17.9%
20.1%
Cash from investing
-3,133
-1,740
-2,008
Cash from financing
-7,091
-7,636
-5,494
Depreciation and amortisation
3,243
3,267
3,538
-0.7%
Share-based compensation
644
685
640
-6.0%
Buybacks
1,227
3,795
2,299
-67.7%
Dividends paid
3,556
3,309
3,202
+7.5%
Dividend per share
$2.08
$1.92
n/a
+8.3%
Diluted shares, weighted
1,749m
1,764m
1,789m
-0.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
38,603
36,686
35,802
+5.2%
Non-controlling interest
224
219
222
+2.3%
Short-term borrowings
n/a
n/a
0.0
Debt
14,679
16,773
18,050
-12.5%
Operating lease liabilities
949
943
956
+0.6%
Other liabilities
18,759
19,817
20,166
-5.3%
Total liabilities and equity
73,214
74,438
75,196
-1.6%
Fixed assets
10,154
9,162
8,959
+10.8%
Goodwill
23,679
22,799
23,231
+3.9%
Intangible assets
8,815
10,454
12,739
-15.7%
Investments
1,182
1,054
1,266
+12.1%
Cash and equivalents
6,896
9,882
9,799
-30.2%
Receivables
6,565
6,218
6,487
+5.6%
Inventory
6,570
6,173
5,157
+6.4%
Other assets
9,353
8,696
7,558
+7.6%
Total assets
73,214
74,438
75,196
-1.6%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.