Stock Analysis on Net
Stock Analysis on Net

AbbVie Inc. (NYSE:ABBV)

Price to FCFE (P/FCFE) 

Microsoft Excel

Free Cash Flow to Equity (FCFE)

AbbVie Inc., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net earnings attributable to AbbVie Inc. 4,278 4,863 11,836 11,542 4,616
Net earnings attributable to noncontrolling interest 8 10 9 7 6
Net noncash charges 17,302 15,153 13,192 12,459 12,860
Changes in operating assets and liabilities, net of acquisitions (2,782) 2,813 (94) (1,231) 106
Cash flows from operating activities 18,806 22,839 24,943 22,777 17,588
Acquisitions of property and equipment (974) (777) (695) (787) (798)
Proceeds from issuance of other short-term borrowings 5,008 — — — —
Repayments of other short-term borrowings (5,008) — — — —
Proceeds from issuance of long-term debt 16,963 — 2,000 1,000 3,000
Repayments of long-term debt and finance lease obligations (9,613) (4,149) (14,433) (9,414) (5,683)
Debt issuance costs (99) (38) — — (20)
Free cash flow to equity (FCFE) 25,083 17,875 11,815 13,576 14,087

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to AbbVie Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. AbbVie Inc. FCFE increased from 2022 to 2023 and from 2023 to 2024.

Price to FCFE Ratio, Current

AbbVie Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 1,765,354,859
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 25,083
FCFE per share 14.21
Current share price (P) 200.88
Valuation Ratio
P/FCFE 14.14
Benchmarks
P/FCFE, Competitors1
Amgen Inc. 26.09
Bristol-Myers Squibb Co. 8.63
Danaher Corp. 40.83
Eli Lilly & Co. 65.39
Gilead Sciences Inc. 19.18
Johnson & Johnson 12.86
Merck & Co. Inc. 16.64
Pfizer Inc. 3.60
Regeneron Pharmaceuticals Inc. 20.65
Thermo Fisher Scientific Inc. 41.23
Vertex Pharmaceuticals Inc. 37.58
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 17.27
P/FCFE, Industry
Health Care 17.35

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

AbbVie Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 1,765,354,859 1,766,473,359 1,769,399,971 1,768,753,829 1,765,881,690
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 25,083 17,875 11,815 13,576 14,087
FCFE per share3 14.21 10.12 6.68 7.68 7.98
Share price1, 4 192.87 175.75 151.31 144.03 105.01
Valuation Ratio
P/FCFE5 13.57 17.37 22.66 18.76 13.16
Benchmarks
P/FCFE, Competitors6
Amgen Inc. 25.50 4.71 8.32 13.52 11.06
Bristol-Myers Squibb Co. — 7.52 22.85 16.17 7.80
Danaher Corp. 40.83 53.08 32.04 20.75 44.62
Eli Lilly & Co. 64.93 75.06 60.51 35.17 36.62
Gilead Sciences Inc. — 12.81 15.22 12.70 5.98
Johnson & Johnson 12.67 24.31 16.73 23.28 15.60
Merck & Co. Inc. — 24.48 22.40 18.72 17.85
Pfizer Inc. — 3.82 10.56 8.88 —
Regeneron Pharmaceuticals Inc. 21.27 26.52 19.29 10.35 13.30
Thermo Fisher Scientific Inc. 41.23 31.16 27.98 13.44 18.58
Vertex Pharmaceuticals Inc. — 33.45 19.91 26.08 18.46
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences — 16.91 19.28 16.49 17.09
P/FCFE, Industry
Health Care — 16.85 18.12 17.81 17.23

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 25,083,000,000 ÷ 1,765,354,859 = 14.21

4 Closing price as at the filing date of AbbVie Inc. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 192.87 ÷ 14.21 = 13.57

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. AbbVie Inc. P/FCFE ratio decreased from 2022 to 2023 and from 2023 to 2024.