ABBOTT LABORATORIES FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$44.3B
Gross margin	56.4%
Operating income	$8.1B
Net income	$6.5B
Diluted EPS	$3.72
Cash & equivalents	$8.5B
Total assets	$86.7B
Long-term debt	$12.9B

Key takeaway

Abbott reported $44.3 billion in 2025 revenue with a healthy 56.4% gross margin, driven by Medical Devices and Established Pharmaceutical segments, generating $6.5 billion net income at an 18.2% operating margin.

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Beneath the surface

Accumulated foreign currency translation loss of -$5.9 billion materially overstates the economic erosion of equity; this non-cash charge reflects Abbott's exposure to the U.S. dollar strength and is a structural headwind for a company with 61% of revenues in foreign currencies, compounded by flagged tariff and geopolitical risks.

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