Price · last 3 months · daily close
ABBV price
Loading the price chart...
Daily closing prices via yfinance. Quotes are delayed. Past prices are not a guarantee of future results.
ValeriusBeta - Not investment advice
Research · S&P 500 · Health Care
ABBV · AbbVie
The numbers, the scorecard and what analysts say, with the source for each. Information, not advice.
Value Scorecard · run 2026-10-18
13 value checks: 12 scored 1 to 5 where the data allows, plus moat evidence
21/55
low value score11 of 12 checks scored11 of the 12 checks that carry a score were scored from the data available. 1 could not be scored (ROE Trend) and was left out, so the score is out of 55 instead of 60. The label uses the same share of the available points as for a full scorecard. The moat is shown as evidence from the filings, without a score.
Earnings & returns
EPS Trend
1/5Diluted EPS: $6.63 (2022), $2.72 (2023), $2.39 (2024), $2.36 (2025). The latest figure is half the 2022 figure or less; the framework scores that as 1.
ROE Trend
Not scoredShareholder equity is negative in 2025, so ROE has no meaningful value and is not scored.
ROIC
4/5ROIC of 16.6%: operating income of $15.07B divided by $90.67B of capital (total assets $133.96B minus current liabilities $43.29B), fiscal year to Dec 31, 2025, as filed in the 10-K (SEC EDGAR). The framework scores 15-20% as 4.
Profit Margins
3/5Net margin of 9.8%; the framework scores 5-10% as 3; gross margin 72.8%, operating margin 40.0%.
Balance sheet & cash
Debt-to-Equity
1/5Shareholder equity is negative, so debt-to-equity has no meaningful value (total debt $70.88B, total cash $6.57B). The framework scores negative equity as 1. Calculated from the balance sheet in yfinance (at Jun 30, 2026) because yfinance's summary figure was not available.
Free Cash Flow
2/5Free cash flow (operating cash flow minus capital expenditure): $24.25B (2022), $22.06B (2023), $17.83B (2024), $17.82B (2025). It ended at or below 2022; the framework scores that as 2.
Retained Earnings
1/5Retained earnings, as filed in the 10-Ks (SEC EDGAR): $4.78B (2022), -$1.00B (2023), -$7.90B (2024), -$15.49B (2025). The latest balance is negative (an accumulated deficit); the framework scores that as 1.
Valuation models
Graham IV
1/5IV = EPS x (8.5 + 2g) x (4.4 / Y) = $3.54 x (8.5 + 2 x 0.0) x (4.4 / 4.5) = $29.42 (EPS CAGR -6.9% floored at 0%; the formula returns a negative value below -4.25% growth). Current price $285.42; price is 870.1% above the model value.
DCF Value
1/5FCF/share = $9.547, stage 1 growth = 6.1% for 5 years, terminal growth = 3%, discount rate = 10%. Stage 1 PV = $42.89, PV of terminal value = $117.28, DCF value = $160.17. Current price $285.42; price is 78.2% above the model value.
Margin of Safety
1/5Graham value $29.42 (price is 870.1% above the model value); DCF value $160.17 (price is 78.2% above the model value).
Price-to-Book
1/5Book value is negative; the framework scores negative book value as 1.
Business quality
Moat Evidence
Not scoredA moat (a brand, a network, switching costs, patents, scale, a licence) is not a number in the filings, so Valerius doesn’t score it. Below are the figures and the words moat analysis starts from, from the company’s own 10-K filings. The conclusion is yours.
Return on capital, each year
Above 15% in 7 of 10 years (2016-2025); lowest 9.3%, highest 17.7%.
Gross margin, each year
Between 62.4% and 77.6% over 10 years (a range of 15.2 points).
Competition, in the company’s own words · 10-K filed Feb 20, 2026
The markets for AbbVie's products are highly competitive. AbbVie competes with other research-based pharmaceuticals and biotechnology companies that discover, manufacture, market and sell proprietary pharmaceutical products, therapies and biologics. For example, AbbVie's immunology products compete with IL-23 inhibitors, IL-17 inhibitors, JAK inhibitors, biosimilars and other competitive products intended to treat a number of disease states, and AbbVie's oncology products compete with targeted therapies including BTK inhibitors, ADCs, cell therapies and other competitive products intended to treat certain cancers. In addition, a number of other companies have successfully developed and market products that are being positioned as competitors to Botox. The search for technological innovations in pharmaceutical products is a significant aspect of competition. The introduction of new products by competitors and changes in medical practices and procedures can result in product obsolescence. Price is also a competitive factor. In addition, the substitution of generic and biosimilar pharmaceutical products for branded pharmaceutical products creates competitive pressures on AbbVie's products that do not have patent protection. New products or treatments brought to market by AbbVie’s competitors could cause revenues for AbbVie’s products to decrease due to price reductions and sales volume decreases. Biosimilars.
The opening of the company’s “Competition” section in its 10-K, quoted word for word, not summarized or edited. It is the company’s own description, not Valerius’s view, and may include the company’s expectations. Open the filing.
Return on capital = operating income / (total assets − current liabilities), the ROIC row’s definition; 15% is the framework’s return threshold. Gross margin = gross profit / revenue. Both from each year’s 10-K via SEC EDGAR. Moat analysis commonly looks at whether returns and margins held up over many years. These figures don’t say whether the company has an advantage, what it is, or whether it will last.
Capital Allocation
5/5Capital allocation, 2022-2025: dividends or buybacks paid in every year (pass); $49.41B paid out against $81.96B of free cash flow (pass); total debt $63.27B to $67.50B, up 6.7%, 3.8x EBITDA (pass: not up more than 10%); shares outstanding 1.77B to 1.77B, down 0.1% (pass). 4 of 4 tests passed; the framework scores that as 5.
Filings
Company notices to the SEC
Not scoredThree kinds of event the company reported to the SEC in the last 5 years, from its filings on SEC EDGAR.
Loading...
These are events the company reported to the SEC. An auditor change or a late filing can have many causes; each date links to the filing, where the company explains it. Valerius does not score these.
How the Graham and DCF values were calculated
Graham Formula:
IV = EPS x (8.5 + 2g) x (4.4 / Y)
EPS = $3.54, g = 0.0%, Y = 4.5
g floored at 0.0% (3-year EPS CAGR was -6.9%; below -4.25% the formula returns a negative value)
IV = $29.42
Current price $285.42 vs Graham value $29.42 — price is 870.1% above the model value.
DCF:
FCF/share = $9.547
Stage 1 growth = 6.1% for 5 years | terminal growth = 3.0% | discount rate = 10.0%
Y1: $10.129 → PV $9.208
Y2: $10.747 → PV $8.882
Y3: $11.403 → PV $8.567
Y4: $12.098 → PV $8.263
Y5: $12.836 → PV $7.970
Stage 1 PV sum = $42.89
Terminal value at end of Y5 = $188.87
PV of terminal value = $117.28
DCF value = $160.17
Current price $285.42 vs DCF value $160.17 — price is 78.2% above the model value.Data from yfinance summary figures and financial statements, and from the company’s 10-K filings via SEC EDGAR; computed at a price of $285.42. Every score is calculated from the figures by the framework’s fixed rules, and the explanation beside it is generated from the same figures: Graham value, DCF value, margin of safety, ROIC, profit margins, debt-to-equity, price-to-book, EPS trend, ROE trend, free cash flow, retained earnings and capital allocation. No AI is involved in this scorecard. The moat is shown as evidence, without a score. Read each score with the figures beside it. A check that cannot be scored from the available data is shown as not scored and left out of the composite score. Intrinsic value calculations are model outputs based on stated assumptions, not predictions.
Recent headlines · third-party publishers · not investment advice
In the news
- Loading headlines...
The 8 newest headlines whose title names the company, shown automatically and never chosen by Valerius. From third-party publishers via Yahoo Finance, linked to the source. Valerius doesn't write or endorse them. Not investment advice.