ABBV FY 2019 Earnings Report — AbbVie Inc. Revenue & Financial Results | Market Cap Arena

AbbVie Inc.ABBV

FY 2019 Earnings

Reported February 21, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$33.3B	—	$32.8B	—	1.6%
Op. Income	$13.0B	—	$6.4B	—	103.4%
Gross Margin	77.6%	—	76.4%	—	1.2pp
Net Margin	23.7%	—	17.4%	—	6.3pp
EPS (Diluted)	$5.28	—	$3.68	—	43.5%
Free Cash Flow	$12.8B	—	$12.8B	—	-0.1%

Revenue Flow

Item	Amount
REVENUE	$33.3B
Cost of Revenue	$7.4B
GROSS PROFIT	$25.8B
R&D Expenses	$6.8B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.9B
Other Expenses	-$890M
Operating Expenses	$12.8B
Cost & Expenses	$20.3B
OPERATING INCOME	$13.0B
Interest Income	$275M
Interest Expense	$1.8B
Other Income/Expenses	-$4.6B
INCOME BEFORE TAX	$8.4B
Income Tax Expense	$544M
Net Income from Continuing Ops	$7.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.8B
D&A	$2.0B
EBIT	$10.2B
EBITDA	$12.2B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$33.3B
Cost of Revenue	$7.4B
GROSS PROFIT	$25.8B
R&D Expenses	$6.8B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$6.9B
Other Expenses	-$890M
Operating Expenses	$12.8B
Cost & Expenses	$20.3B
OPERATING INCOME	$13.0B
Interest Income	$275M
Interest Expense	$1.8B
Other Income/Expenses	-$4.6B
INCOME BEFORE TAX	$8.4B
Income Tax Expense	$544M
Net Income from Continuing Ops	$7.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$7.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$7.8B
D&A	$2.0B
EBIT	$10.2B
EBITDA	$12.2B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$7.9B
Depreciation & Amortization	$2.0B
Stock-Based Compensation	$430M
Deferred Income Tax	$700M
Other Non-Cash Items	$3.6B
Change in Working Capital	-$1.3B
OPERATING CASH FLOW	$13.3B
Capital Expenditure	-$552M
Acquisitions (Net)	-$1.1B
Purchases of Investments	-$583M
Sales/Maturities of Investments	$2.7B
Other Investing Activities	$167M
NET CASH FROM INVESTING	$596M
Net Debt Issuance	$26.2B
Common Stock Repurchased	-$629M
Common Dividends Paid	-$6.4B
Other Financing Activities	-$544M
NET CASH FROM FINANCING	$18.7B
FREE CASH FLOW	$12.8B
Net Change in Cash	$32.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$39.9B
Short-Term Investments	$0
Net Receivables	$5.4B
Inventory	$1.8B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49.5B
PP&E (Net)	$3.0B
Goodwill	$15.6B
Intangible Assets	$18.6B
Long-Term Investments	$93M
Tax Assets	$0
Other Non-Current Assets	$2.3B
TOTAL NON-CURRENT ASSETS	$39.6B
TOTAL ASSETS	$89.1B
Account Payables	$1.5B
Short-Term Debt	$3.8B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$15.6B
Long-Term Debt	$63.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$3.9B
Other Non-Current Liabilities	$14.6B
TOTAL NON-CURRENT LIABILITIES	$81.7B
TOTAL LIABILITIES	$97.3B
Common Stock	$18M
Additional Paid-In Capital	$15.2B
Retained Earnings	$4.7B
Treasury Stock	-$24.5B
Accum. Other Comp. Income	-$3.6B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$8.2B
Minority Interest	$0
TOTAL EQUITY	-$8.2B
TOTAL LIABILITIES & EQUITY	$89.1B
Total Debt	$67.1B
Net Debt	$27.2B