Revenue growth reached 7.8% in 2026Q1, supported by a gross margin expansion to 56.3% from 50.4% in 2024Q1, though operating margins remain constrained between 13.9% and 19.6%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 45.13B | 44.33B | 41.95B | 40.11B | 43.65B | 43.08B | 34.61B | 31.9B | 30.58B | 27.39B | 20.85B | 20.41B | 20.25B | 21.85B | 39.87B | 38.85B | 35.17B | 30.77B | 29.53B | 25.91B | 22.48B | 22.34B | 19.68B | 19.68B | 17.68B | 16.29B | 13.75B | 13.18B | 12.48B | 11.88B | 11.01B |
| Revenue Growth % | 6.59% | 5.67% | 4.59% | -8.12% | 1.34% | 24.47% | 8.48% | 4.34% | 11.64% | 31.35% | 2.2% | 0.78% | -7.33% | -45.21% | 2.63% | 10.48% | 14.31% | 4.19% | 13.94% | 15.3% | 0.62% | 13.51% | -0% | 11.29% | 8.59% | 18.47% | 4.31% | 5.61% | 5% | 7.9% | 10% |
| Cost of Goods Sold | 19.69B | 19.72B | 20.63B | 20.07B | 21.33B | 19.86B | 17.23B | 15.21B | 14.76B | 14.32B | 9.61B | 9.45B | 9.76B | 9.8B | 10.64B | 15.41B | 14.57B | 13.15B | 12.48B | 11.33B | 9.63B | 10.47B | 8.88B | 9.47B | 8.51B | 7.75B | 6.24B | 5.98B | 5.39B | 5.05B | 4.73B |
| COGS % of Revenue | - | 44.49% | 49.17% | 50.04% | 48.86% | 46.11% | 49.79% | 47.68% | 48.25% | 52.3% | 46.08% | 46.29% | 48.19% | 44.86% | 26.68% | 39.67% | 41.44% | 42.73% | 42.28% | 43.71% | 42.86% | 46.86% | 45.14% | 48.14% | 48.1% | 47.58% | 45.39% | 45.36% | 43.23% | 42.46% | 42.97% |
| Gross Profit | 25.45B | 24.61B | 21.32B | 20.04B | 22.32B | 23.21B | 17.38B | 16.69B | 15.82B | 13.07B | 11.24B | 10.96B | 10.49B | 9.86B | 10.85B | 23.44B | 20.59B | 17.62B | 17.04B | 14.59B | 12.84B | 11.87B | 10.8B | 10.21B | 9.18B | 8.54B | 7.51B | 7.2B | 7.08B | 6.84B | 6.28B |
| Gross Margin % | 56.38% | 55.51% | 50.83% | 49.96% | 51.14% | 53.89% | 50.21% | 52.32% | 51.75% | 47.7% | 53.92% | 53.71% | 51.81% | 45.12% | 27.22% | 60.33% | 58.56% | 57.27% | 57.72% | 56.29% | 57.14% | 53.14% | 54.86% | 51.86% | 51.9% | 52.42% | 54.61% | 54.64% | 56.77% | 57.54% | 57.03% |
| Gross Profit Growth % | - | 15.39% | 6.43% | -10.24% | -3.84% | 33.59% | 4.1% | 5.5% | 21.1% | 16.2% | 2.59% | 4.48% | 6.42% | -9.19% | -53.7% | 13.83% | 16.88% | 3.37% | 16.85% | 13.58% | 8.18% | 9.96% | 5.77% | 11.21% | 7.51% | 13.71% | 4.26% | 1.65% | 3.59% | 8.86% | 10.46% |
| Operating Expenses | 17.27B | 16.59B | 14.47B | 13.6B | 13.96B | 14.01B | 12.09B | 12.1B | 11.98B | 11.09B | 8B | 8.01B | 7.57B | 7.71B | 8.85B | 16.6B | 13.54B | 11.05B | 10.96B | 9.64B | 8.51B | 7.22B | 6.62B | 6.78B | 5.54B | 6.64B | 4.25B | 4.05B | 3.97B | 3.99B | 3.66B |
| OpEx % of Revenue | - | 37.42% | 34.5% | 33.91% | 31.98% | 32.53% | 34.92% | 37.93% | 39.18% | 40.5% | 38.34% | 39.26% | 37.41% | 35.29% | 22.19% | 42.73% | 38.51% | 35.91% | 37.1% | 37.2% | 37.84% | 32.33% | 33.63% | 34.47% | 31.33% | 40.79% | 30.88% | 30.74% | 31.78% | 33.55% | 33.27% |
| Selling, General & Admin | 12.59B | 12.38B | 11.65B | 10.88B | 11.11B | 11.28B | 9.67B | 9.69B | 9.69B | 8.96B | 6.64B | 6.64B | 6.29B | 6.34B | 7.3B | 12.54B | 9.97B | 8.3B | 8.27B | 7.24B | 6.28B | 5.41B | 4.92B | 5.05B | 3.98B | 3.73B | 2.89B | 2.86B | 2.74B | 2.68B | 2.46B |
| SG&A % of Revenue | - | 27.92% | 27.77% | 27.13% | 25.45% | 26.18% | 27.94% | 30.38% | 31.69% | 32.73% | 31.83% | 32.55% | 31.06% | 29.02% | 18.32% | 32.27% | 28.35% | 26.99% | 28% | 27.93% | 27.94% | 24.22% | 25.01% | 25.66% | 22.5% | 22.93% | 21.05% | 21.68% | 21.99% | 22.59% | 22.33% |
| Research & Development | 3.01B | 2.96B | 2.82B | 2.72B | 2.85B | 2.74B | 2.42B | 2.41B | 2.29B | 2.13B | 1.36B | 1.37B | 1.29B | 1.37B | 1.54B | 4.06B | 3.57B | 2.74B | 2.69B | 2.4B | 2.23B | 1.81B | 1.7B | 1.73B | 1.56B | 1.58B | 1.35B | 1.19B | 1.22B | 1.3B | 1.2B |
| R&D % of Revenue | - | 6.67% | 6.73% | 6.78% | 6.53% | 6.36% | 6.99% | 7.55% | 7.48% | 7.78% | 6.51% | 6.71% | 6.35% | 6.28% | 3.87% | 10.45% | 10.16% | 8.92% | 9.11% | 9.27% | 9.9% | 8.11% | 8.62% | 8.81% | 8.83% | 9.69% | 9.83% | 9.06% | 9.79% | 10.96% | 10.94% |
| Other Operating Expenses | 4M | 1.25B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 8.2B | 8.05B | 6.83B | 6.43B | 8.36B | 9.2B | 5.29B | 4.59B | 3.84B | 1.97B | 3.25B | 2.95B | 2.92B | 2.15B | 2.01B | 6.84B | 7.05B | 6.57B | 6.09B | 4.95B | 4.34B | 4.65B | 4.18B | 2.97B | 3.15B | 1.89B | 3.4B | 3.15B | 3.12B | 2.85B | 2.62B |
| Operating Margin % | 18.17% | 18.16% | 16.27% | 16.04% | 19.16% | 21.36% | 15.29% | 14.39% | 12.57% | 7.2% | 15.58% | 14.45% | 14.4% | 9.82% | 5.03% | 17.61% | 20.05% | 21.36% | 20.62% | 19.08% | 19.29% | 20.81% | 21.23% | 15.11% | 17.82% | 11.63% | 24.74% | 23.9% | 24.99% | 23.99% | 23.76% |
| Operating Income Growth % | - | 17.92% | 6.06% | -23.04% | -9.11% | 73.88% | 15.25% | 19.43% | 94.93% | -39.3% | 10.17% | 1.13% | 35.88% | 6.93% | -70.66% | -2.97% | 7.31% | 7.91% | 23.12% | 14.05% | -6.74% | 11.3% | 40.46% | -5.65% | 66.41% | -44.3% | 7.98% | 1.01% | 9.38% | 8.92% | 9.83% |
| EBITDA | 10.92B | 10.79B | 10.04B | 9.68B | 11.63B | 12.74B | 8.62B | 7.61B | 7.12B | 4.99B | 4.6B | 4.42B | 4.39B | 3.66B | 4.79B | 9.89B | 9.68B | 8.66B | 7.93B | 6.8B | 5.89B | 6.01B | 5.47B | 4.1B | 4.2B | 3.06B | 4.23B | 3.98B | 3.9B | 3.58B | 3.3B |
| EBITDA Margin % | 24.2% | 24.35% | 23.94% | 24.13% | 26.64% | 29.57% | 24.9% | 23.84% | 23.29% | 18.23% | 22.07% | 21.67% | 21.68% | 16.76% | 12.01% | 25.44% | 27.51% | 28.15% | 26.85% | 26.24% | 26.23% | 26.9% | 27.77% | 20.84% | 23.72% | 18.8% | 30.76% | 30.18% | 31.27% | 30.11% | 29.99% |
| EBITDA Growth % | 5.52% | 7.48% | 3.77% | -16.78% | -8.71% | 47.81% | 13.32% | 6.78% | 42.64% | 8.5% | 4.09% | 0.73% | 19.85% | -23.55% | -51.54% | 2.17% | 11.72% | 9.24% | 16.58% | 15.36% | -1.89% | 9.92% | 33.27% | -2.24% | 37.02% | -27.58% | 6.3% | 1.93% | 9.05% | 8.33% | 12% |
| D&A (Non-Cash Add-back) | 2.72B | 2.75B | 3.22B | 3.24B | 3.27B | 3.54B | 3.33B | 3.01B | 3.28B | 3.02B | 1.35B | 1.47B | 1.47B | 1.52B | 2.78B | 3.04B | 2.62B | 2.09B | 1.84B | 1.85B | 1.56B | 1.36B | 1.29B | 1.13B | 1.04B | 1.17B | 827.43M | 828.01M | 784.24M | 727.75M | 686.09M |
| EBIT | 8.49B | 8.81B | 7.62B | 7.36B | 8.62B | 8.62B | 5.68B | 4.89B | 3.6B | 3.11B | 1.72B | 3.36B | 2.68B | 2.09B | 714M | 6.22B | 6.51B | 7.4B | 6.38B | 5.06B | 2.69B | 4.86B | 4.33B | 3.07B | 3.26B | 3.22B | 3.4B | 3.15B | 3.12B | 2.83B | 2.62B |
| Net Interest Income | -127M | -111M | -259M | -313M | -132M | -367M | -662M | -724M | -624M | -756M | -205M | -73M | -87M | 20M | -350M | -932.95M | -695.68M | -72.88M | -327.25M | -456.39M | -292.35M | -153.66M | -149.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 226M | 230M | 344M | 385M | 183M | 43M | 46M | 94M | 105M | 124M | 99M | 105M | 77M | 67M | 59M | 85.2M | 105.45M | 137.78M | 201.23M | 136.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 353M | 341M | 603M | 698M | 315M | 410M | 708M | 818M | 729M | 880M | 304M | 178M | 164M | 47M | 409M | 1.02B | 801.13M | 210.66M | 528.47M | 593.14M | 416.17M | 241.35M | 200.21M | 146.12M | 205.22M | 234.76B | 23.22M | 0 | 0 | 0 | 0 |
| Other Income/Expense | -65M | 418M | 188M | 229M | -56M | -989M | -323M | -514M | -971M | 259M | -1.84B | 234M | -398M | -105M | -1.7B | -1.64B | -1.34B | 623.03M | -232.81M | -475.9M | -2.06B | -29.48M | -51.73M | 411.88M | 143.27M | -10.88M | 415.83M | 247.53M | 123.98M | 84.17M | 52.44M |
| Pretax Income | 8.14B | 8.47B | 7.01B | 6.66B | 8.31B | 8.21B | 4.97B | 4.08B | 2.87B | 2.23B | 1.41B | 3.18B | 2.52B | 2.52B | 6.26B | 5.2B | 5.71B | 7.19B | 5.86B | 4.47B | 2.28B | 4.62B | 4.13B | 3.73B | 3.67B | 1.88B | 3.82B | 3.4B | 3.24B | 2.95B | 2.67B |
| Pretax Margin % | 18.03% | 19.1% | 16.72% | 16.61% | 19.03% | 19.06% | 14.36% | 12.78% | 9.4% | 8.15% | 6.78% | 15.6% | 12.44% | 11.54% | 15.71% | 13.38% | 16.25% | 23.38% | 19.83% | 17.25% | 10.13% | 20.68% | 20.96% | 18.98% | 20.77% | 11.56% | 27.76% | 25.78% | 25.97% | 24.82% | 24.24% |
| Income Tax | 1.86B | 1.94B | -6.39B | 941M | 1.37B | 1.14B | 497M | 390M | 539M | 1.88B | 350M | 577M | 797M | 138M | 300M | 470M | 1.09B | 1.45B | 1.12B | 863.33M | 559.62M | 1.25B | 949.76M | 981.18M | 879.71M | 332.76M | 1.03B | 951.13M | 907.37M | 855.48M | 787.52M |
| Effective Tax Rate % | 22.87% | 22.94% | -91.1% | 14.12% | 16.53% | 13.88% | 10% | 9.57% | 18.76% | 84.18% | 24.77% | 18.13% | 31.65% | 5.47% | 4.79% | 9.04% | 19.03% | 20.13% | 19.16% | 19.32% | 24.58% | 27.01% | 23.02% | 26.27% | 23.95% | 17.67% | 27% | 28% | 28% | 29% | 29.5% |
| Net Income | 6.28B | 6.52B | 13.4B | 5.72B | 6.93B | 7.07B | 4.5B | 3.69B | 2.37B | 477M | 1.4B | 4.42B | 2.28B | 2.58B | 5.96B | 4.73B | 4.63B | 5.75B | 4.88B | 3.61B | 1.72B | 3.37B | 3.24B | 2.75B | 2.79B | 1.55B | 2.79B | 2.45B | 2.33B | 2.08B | 1.88B |
| Net Margin % | 13.91% | 14.72% | 31.95% | 14.27% | 15.88% | 16.42% | 12.99% | 11.56% | 7.74% | 1.74% | 6.71% | 21.68% | 11.28% | 11.79% | 14.95% | 12.17% | 13.15% | 18.68% | 16.53% | 13.92% | 7.64% | 15.1% | 16.44% | 13.99% | 15.8% | 9.52% | 20.27% | 18.56% | 18.71% | 17.5% | 17.09% |
| Net Income Growth % | -53.52% | -51.32% | 134.18% | -17.45% | -1.95% | 57.31% | 21.91% | 55.7% | 396.44% | -65.93% | -68.35% | 93.65% | -11.34% | -56.8% | 26.12% | 2.2% | -19.49% | 17.73% | 35.34% | 110.07% | -49.09% | 4.21% | 17.53% | -1.45% | 80.19% | -44.35% | 13.91% | 4.77% | 12.28% | 10.47% | 11.45% |
| Net Income (Continuing) | 6.28B | 6.52B | 13.4B | 5.72B | 6.93B | 7.07B | 4.47B | 3.69B | 2.33B | 353M | 1.06B | 2.61B | 1.72B | 1.99B | 237M | 1.13B | 4.63B | 5.75B | 4.73B | 3.61B | 1.72B | 3.37B | 3.18B | 2.5B | 2.55B | 1.55B | 2.79B | 2.45B | 2.33B | 2.08B | 1.88B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 24M | 0 | 34M | 124M | 337M | 1.82B | 563M | 588M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 640M | 641M | 237M | 224M | 219M | 222M | 219M | 213M | 198M | 201M | 179M | 115M | 113M | 96M | 92.27M | 86.31M | 88.33M | 43.1M | 39.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.59 | 3.72 | 7.64 | 3.27 | 3.91 | 3.94 | 2.50 | 2.06 | 1.34 | 0.27 | 0.94 | 2.94 | 1.50 | 1.64 | 3.75 | 3.01 | 2.97 | 3.70 | 3.13 | 2.31 | 1.12 | 2.16 | 2.06 | 1.75 | 1.78 | 0.99 | 1.78 | 1.57 | 1.49 | 1.33 | 1.19 |
| EPS Growth % | -53.43% | -51.31% | 133.64% | -16.37% | -0.76% | 57.6% | 21.36% | 53.73% | 396.3% | -71.28% | -68.03% | 96% | -8.54% | -56.27% | 24.58% | 1.35% | -19.73% | 18.21% | 35.5% | 106.25% | -48.15% | 4.85% | 17.71% | -1.69% | 79.8% | -44.38% | 13.38% | 5.37% | 12.03% | 11.76% | 12.26% |
| EPS (Basic) | - | 3.74 | 7.67 | 3.30 | 3.94 | 3.97 | 2.52 | 2.07 | 1.35 | 0.27 | 0.95 | 3.00 | 1.51 | 1.66 | 3.78 | 3.01 | 2.99 | 3.72 | 3.16 | 2.34 | 1.12 | 2.17 | 2.07 | 1.76 | 1.79 | 1.00 | 1.80 | 1.59 | 1.52 | 1.35 | 1.21 |
| Diluted Shares Outstanding | 1.75B | 1.75B | 1.75B | 1.75B | 1.76B | 1.79B | 1.79B | 1.78B | 1.77B | 1.75B | 1.48B | 1.51B | 1.53B | 1.57B | 1.59B | 1.57B | 1.56B | 1.55B | 1.56B | 1.56B | 1.54B | 1.56B | 1.57B | 1.57B | 1.57B | 1.57B | 1.57B | 1.56B | 1.56B | 1.58B | 1.58B |
| Basic Shares Outstanding | 1.75B | 1.75B | 1.73B | 1.73B | 1.75B | 1.77B | 1.77B | 1.77B | 1.76B | 1.74B | 1.47B | 1.47B | 1.51B | 1.55B | 1.58B | 1.57B | 1.55B | 1.55B | 1.54B | 1.54B | 1.53B | 1.55B | 1.56B | 1.56B | 1.56B | 1.55B | 1.55B | 1.54B | 1.54B | 1.55B | 1.56B |
| Dividend Payout Ratio | - | 63.09% | 28.62% | 62.14% | 47.73% | 45.28% | 56.95% | 61.57% | 83.36% | 387.63% | 109.93% | 32.62% | 58.76% | 34.24% | 53.38% | 62.14% | 57.75% | 42.02% | 44.55% | 54.33% | 103.52% | 50.01% | 49.44% | 44% | 51.11% | 81.97% | 41.13% | 41.02% | 38.2% | 38.94% | 38.69% |
Legal and regulatory overhangs
According to the provided quarterly data, ABT has maintained a consistent revenue growth trajectory, reaching $11.2 billion in 2026Q1, which represents a 7.8% year-over-year increase, suggesting that the company's diversified portfolio continues to capture demand despite broader macroeconomic headwinds and shifting healthcare utilization patterns across its core segments.
The steady revenue expansion appears to be supported by the recurring nature of its medical device consumables and diagnostic reagents. Investors should monitor whether this growth rate can persist as the company faces potential saturation in certain diagnostic markets and ongoing competitive pressures in the nutritional space.
Based on reported financial statements, ABT's gross margin has demonstrated a notable upward trend, climbing from 50.4% in 2024Q1 to 56.3% by 2026Q1, indicating that management's focus on high-margin medical device penetration is successfully offsetting the lower-margin contributions from the established pharmaceutical and nutritional business units.
This structural improvement suggests that the company is successfully leveraging its manufacturing scale to improve unit economics. However, the sustainability of these margins may be tested if inflationary pressures on raw materials for nutritionals intensify or if pricing power in the diagnostic segment faces further regulatory scrutiny.
As reported in the income statement data, operating margins have fluctuated between 13.9% and 19.6% over the last ten quarters, suggesting that while gross profitability has improved, the company's ability to scale operating income faster than revenue remains constrained by persistent SG&A and R&D expenditure requirements.
The lack of consistent operating margin expansion implies that the company is reinvesting heavily in its commercial infrastructure and innovation pipeline. Analysts should investigate whether this spending is yielding sufficient incremental returns or if the current cost structure is becoming structurally bloated relative to its peers.
Based on the provided figures, net income has experienced significant quarterly volatility, highlighted by an anomalous $9.2 billion profit in 2024Q4, which warrants further investigation into non-operating items and tax adjustments that may be masking the underlying operational performance of the core business segments.
The high variability in EPS, ranging from $0.62 to $5.27, suggests that reported net income is not a reliable proxy for recurring cash-generating ability. Investors should focus on normalized earnings metrics to better understand the true profitability of the company's ongoing operations.
As indicated by the recent income statement trends, the company's reliance on high-volume, lower-margin segments creates a potential vulnerability, as evidenced by the $317 million in stock-based compensation recorded in 2026Q1, which may be diluting shareholder value and masking the true cost of talent acquisition.
Short-term margin gains could be reversed if the company fails to maintain its competitive edge in the diabetes care market against emerging clinical alternatives. Furthermore, the ongoing litigation regarding nutritional products poses a significant risk to future profitability and could necessitate substantial capital outflows that are not currently reflected in the operating margin.
Quick answers to the most common questions about buying ABT stock.
For fiscal year 2025, Abbott Laboratories (ABT) reported total revenue of $44.33B. This represents a 302.5% increase compared to $11.01B in 1996.
Abbott Laboratories (ABT) is profitable, generating $6.52B in net income for the fiscal year ending 2025 with a net profit margin of 14.7%.
Abbott Laboratories (ABT) reported an operating income of $8.05B, resulting in an operating profit margin of 18.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Abbott Laboratories (ABT) generated $24.61B in gross profit for the year, representing a gross profit margin of 55.5%. This demonstrates the company's core pricing power and production efficiency.