Abbott Laboratories, FCFE calculation

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net earnings	13,402)	5,723)	6,933)	7,071)	4,495)
Net noncash charges	4,373)	4,013)	4,167)	4,233)	4,298)
(Increase) decrease in operating capital	(9,217)	(2,475)	(1,519)	(771)	(892)
Net cash from operating activities	8,558)	7,261)	9,581)	10,533)	7,901)
Acquisitions of property and equipment	(2,207)	(2,202)	(1,777)	(1,885)	(2,177)
Proceeds from issuance (repayments) of short-term debt, net and other	(100)	21)	47)	(204)	2)
Proceeds from issuance of long-term debt and debt with maturities over 3 months	223)	2)	7)	4)	1,281)
Repayments of long-term debt and debt with maturities over 3 months	(660)	(2,498)	(753)	(48)	(1,333)
Free cash flow to equity (FCFE)	5,814)	2,584)	7,105)	8,400)	5,674)

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).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Abbott Laboratories equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Abbott Laboratories FCFE decreased from 2022 to 2023 but then increased from 2023 to 2024 not reaching 2022 level.

Abbott Laboratories, current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	1,734,323,411
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	5,814)
FCFE per share	3.35
Current share price (P)	130.82
Valuation Ratio
P/FCFE	39.02
Benchmarks
P/FCFE, Competitors¹
Cigna Group	8.88
CVS Health Corp.	7.44
Elevance Health Inc.	9.13
Intuitive Surgical Inc.	134.54
Medtronic PLC	17.92
UnitedHealth Group Inc.	13.35
P/FCFE, Sector
Health Care Equipment & Services	15.55
P/FCFE, Industry
Health Care	18.31

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.

Abbott Laboratories, historical P/FCFE calculation, comparison to benchmarks

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
No. shares of common stock outstanding¹	1,734,323,411	1,735,184,289	1,737,946,233	1,763,482,267	1,771,529,358
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	5,814)	2,584)	7,105)	8,400)	5,674)
FCFE per share³	3.35	1.49	4.09	4.76	3.20
Share price^1, 4	134.92	114.01	106.74	116.79	123.04
Valuation Ratio
P/FCFE⁵	40.25	76.56	26.11	24.52	38.42
Benchmarks
P/FCFE, Competitors⁶
Cigna Group	8.28	9.86	18.23	10.98	16.30
CVS Health Corp.	7.00	5.22	12.36	21.23	11.93
Elevance Health Inc.	8.26	16.04	14.26	11.07	7.75
Intuitive Surgical Inc.	156.44	177.77	89.67	58.39	81.15
Medtronic PLC	16.39	29.20	19.71	38.91	23.06
UnitedHealth Group Inc.	12.12	15.33	12.57	20.11	13.93
P/FCFE, Sector
Health Care Equipment & Services	15.09	16.71	16.06	20.82	17.51
P/FCFE, Industry
Health Care	18.23	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
= 5,814,000,000 ÷ 1,734,323,411 = 3.35

⁴ Closing price as at the filing date of Abbott Laboratories Annual Report.

⁵ 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 134.92 ÷ 3.35 = 40.25

⁶ Click competitor name to see calculations.

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Valuation ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	Abbott Laboratories P/FCFE ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.

Abbott Laboratories (NYSE:ABT)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical