AbbVie Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $61.2B |
| Gross margin | 19.7% |
| Operating income | $15.1B |
| Net income | $1.8B |
| Diluted EPS | $1.02 |
| Cash & equivalents | $5.2B |
| Total assets | $134.0B |
| Long-term debt | $64.5B |
Key takeaway
AbbVie delivered $61.2B in revenue (up 9% YoY) with strong growth in Skyrizi ($17.6B, up 50%) and Rinvoq ($8.3B, up 39%), partially offset by Humira's 49% decline due to biosimilar competition following loss of exclusivity.
🔒 3 more takeaways in the full analysis
Beneath the surface
The $6.5B contingent consideration fair-value adjustment in 'other expense' masks strong underlying earnings; this non-cash charge reflects management's confidence in higher Skyrizi sales, passage of time, and lower discount rates, but will recur quarterly and distorts year-over-year comparisons.
🔒 3 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 6 more findings — plus insider trades, activist stakes, and 8-K events for ABBV.
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