olivLaw · US equity research
ABT ABT
Pharmaceutical Preparations · SIC 2834 · Vertical: Pharmaceutical Preparations (SIC 2834)
Abbott Laboratories (ABT) is a healthcare company with four segments that reported a 18.2 percent operating margin profile in fiscal 2025. Through the third quarter of 2026, reported sales rose 14.5 percent and comparable sales rose 7.0 percent, largely aided by the Exact Sciences acquisition. The deal added a cancer diagnostics pillar but also raised debt, which could affect financial flexibility if market conditions change.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, ABT (ABT) stock was 115.51 USD (+5.59% on the day), with market capitalisation 200.1 bn USD, P/E 43.0 on diluted EPS of 2.69 USD over the last 12 months, dividend yield 2.18%, beta 0.17, 52-week range 82.56–130.59 USD. Latest reported quarter (Q3 2026): revenue of 13.0 bn USD (+14.5% YoY), net income of 920.0 m USD (−44.0% YoY), diluted EPS 0.53 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 73.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 96.72 – 111.76
- above the upper band · %B 1.25 · band width 14.4%
- SMA 50 / 200
- 104.05 / 101.54
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.02 / 0.75
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +15.4% | −1.1% | +16.5 pp | — |
| 3 months | +9.3% | −0.5% | +9.7 pp | — |
| 6 months | +33.8% | +4.4% | +29.5 pp | — |
| Year to date | −7.8% | +12.3% | −20.1 pp | — |
| 1 year | −8.2% | +13.5% | −21.7 pp | +29.5% |
| 3 years | +20.5% | +76.4% | −55.9 pp | +78.7% |
| 5 years | −7.1% | +63.7% | −70.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.0 bn | 10.4 bn | 11.1 bn | 11.4 bn | 11.5 bn | 11.2 bn | 12.6 bn | 13.0 bn |
| Cost of revenue | 4.9 bn | 4.5 bn | 4.9 bn | 5.1 bn | 4.9 bn | 4.9 bn | 5.3 bn | 5.6 bn |
| Research & development | 749.0 m | 716.0 m | 725.0 m | 766.0 m | 735.0 m | 767.0 m | 892.0 m | 920.0 m |
| SG&A | 2.9 bn | 3.1 bn | 3.1 bn | 3.1 bn | 3.1 bn | 3.7 bn | 4.0 bn | 4.3 bn |
| Operating income | 1.9 bn | 1.7 bn | 2.1 bn | 2.1 bn | 2.3 bn | 1.3 bn | 1.7 bn | 1.4 bn |
| Interest expense | 136.0 m | 131.0 m | 121.0 m | 121.0 m | 120.0 m | 174.0 m | 351.0 m | 350.0 m |
| Pre-tax income | 2.0 bn | 1.8 bn | 2.2 bn | 2.2 bn | 2.4 bn | 1.4 bn | 1.5 bn | 1.2 bn |
| Income tax | -7.2 bn | 453.0 m | 371.0 m | 536.0 m | 582.0 m | 372.0 m | 596.0 m | 311.0 m |
| Net income | 9.2 bn | 1.3 bn | 1.8 bn | 1.6 bn | 1.8 bn | 1.1 bn | 928.0 m | 920.0 m |
| Diluted EPS | 5.29 ≈ | 0.76 | 1.01 | 0.94 | 1.02 ≈ | 0.61 | 0.53 | 0.53 |
| Operating cash flow | 2.9 bn | 1.4 bn | 2.0 bn ≈ | 2.8 bn ≈ | 3.3 bn | 1.3 bn | 2.5 bn ≈ | 1.7 bn ≈ |
| Capex | 720.0 m | 484.0 m | 502.0 m ≈ | 496.0 m ≈ | 689.0 m | 399.0 m | 497.0 m ≈ | 513.0 m ≈ |
| Dividends paid | 958.0 m | 1.0 bn | 1.0 bn ≈ | 1.0 bn ≈ | 1.0 bn | 1.1 bn | 1.1 bn ≈ | 1.1 bn ≈ |
| Share repurchases | 315.0 m | 280.0 m | 6.0 m ≈ | 305.0 m ≈ | 302.0 m | 180.0 m | 1.0 bn ≈ | 11.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 68 percentile of its own 44-quarter history (min 14.7, median 35.5, max 239.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 30.6 bn | 31.9 bn | 34.6 bn | 43.1 bn | 43.7 bn | 40.1 bn | 42.0 bn | 44.3 bn |
| Revenue YoY | +11.6% | +4.3% | +8.5% | +24.5% | +1.3% | −8.1% | +4.6% | +5.7% |
| Net income | 2.4 bn | 3.7 bn | 4.5 bn | 7.1 bn | 6.9 bn | 5.7 bn | 13.4 bn | 6.5 bn |
| Net income YoY | +396.4% | +55.7% | +21.9% | +57.3% | −2.0% | −17.5% | +134.2% | −51.3% |
| Diluted EPS | 1.33 | 2.06 | 2.50 | 3.94 | 3.91 | 3.26 | 7.64 | 3.72 |
| Diluted EPS YoY | +392.6% | +54.9% | +21.4% | +57.6% | −0.8% | −16.6% | +134.4% | −51.3% |
| net % | 7.7% | 11.6% | 13.0% | 16.4% | 15.9% | 14.3% | 31.9% | 14.7% |
| Free cash flow | 4.9 bn | 4.5 bn | 5.7 bn | 8.6 bn | 7.8 bn | 5.1 bn | 6.4 bn | 7.4 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 8.5 bn USD
- Financial debt
- 12.9 bn USD
- Net debt
- 4.4 bn USD
- Equity
- 52.8 bn USD
- Total assets
- 86.7 bn USD
- Debt / equity
- 0.25x
- Current ratio
- 1.58x
- ROE
- 13.0%
- ROA
- 7.8%
- FCF margin
- 16.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 34.6 bn | 43.1 bn | 43.7 bn | 40.1 bn | 42.0 bn | 44.3 bn | SEC (XBRL)· 20 Feb 2026verified |
| Cost of revenue | 15.0 bn | 18.5 bn | 19.1 bn | 18.0 bn | 18.7 bn | 19.3 bn | SEC (XBRL)· 20 Feb 2026verified |
| Gross profit | 19.6 bn ≈ | 24.5 bn ≈ | 24.5 bn ≈ | 22.1 bn ≈ | 23.2 bn ≈ | 25.0 bn ≈ | SEC (XBRL)· 20 Feb 2026derived |
| Research & development | 2.4 bn | 2.7 bn | 2.9 bn | 2.7 bn | 2.8 bn | 2.9 bn | SEC (XBRL)· 20 Feb 2026verified |
| SG&A | 9.7 bn | 11.3 bn | 11.2 bn | 10.9 bn | 11.7 bn | 12.3 bn | SEC (XBRL)· 20 Feb 2026verified |
| Operating income | 5.4 bn | 8.4 bn | 8.4 bn | 6.5 bn | 6.8 bn | 8.1 bn | SEC (XBRL)· 20 Feb 2026verified |
| Interest expense | 546.0 m | 533.0 m | 558.0 m | 637.0 m | 559.0 m | 493.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Pre-tax income | 5.0 bn | 8.2 bn | 8.3 bn | 6.7 bn | 7.0 bn | 8.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Income tax | 497.0 m | 1.1 bn | 1.4 bn | 941.0 m | -6.4 bn | 1.9 bn | SEC (XBRL)· 20 Feb 2026verified |
| Net income | 4.5 bn | 7.1 bn | 6.9 bn | 5.7 bn | 13.4 bn | 6.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Diluted EPS | 2.50 | 3.94 | 3.91 | 3.26 | 7.64 | 3.72 | SEC (XBRL)· 20 Feb 2026verified |
| Weighted average diluted shares | 1.8 bn | 1.8 bn | 1.8 bn | 1.7 bn | 1.7 bn | 1.7 bn | SEC (XBRL)· 20 Feb 2026verified |
| Dividend per share | — | — | 1.92 | 2.08 | 2.24 | 2.40 | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 6.8 bn | 9.8 bn | 9.9 bn | 6.9 bn | 7.6 bn | 8.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Receivables | 6.4 bn | 6.5 bn | 6.2 bn | 6.6 bn | 6.9 bn | 7.9 bn | SEC (XBRL)· 20 Feb 2026verified |
| Inventories | 5.0 bn | 5.2 bn | 6.2 bn | 6.6 bn | 6.2 bn | 6.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Current assets | 20.4 bn | 24.2 bn | 25.2 bn | 22.7 bn | 23.7 bn | 26.0 bn | SEC (XBRL)· 20 Feb 2026verified |
| Property, plant & equipment, net | 9.0 bn | 9.0 bn | 9.2 bn | 10.2 bn | 10.7 bn | 11.8 bn | SEC (XBRL)· 20 Feb 2026verified |
| Goodwill | 23.7 bn | 23.2 bn | 22.8 bn | 23.7 bn | 23.1 bn | 24.0 bn | SEC (XBRL)· 20 Feb 2026verified |
| Intangibles (excl. goodwill) | 14.8 bn | 12.7 bn | 10.5 bn | 8.8 bn | 6.6 bn | 5.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Total assets | 72.5 bn | 75.2 bn | 74.4 bn | 73.2 bn | 81.4 bn | 86.7 bn | SEC (XBRL)· 20 Feb 2026verified |
| Short-term debt | 213.0 m | 0 | 2.3 bn | 1.1 bn | 1.5 bn | 3.0 bn | SEC (XBRL)· 20 Feb 2026verified |
| Long-term debt | 18.5 bn | 17.3 bn | 14.5 bn | 13.6 bn | 12.6 bn | 9.9 bn | SEC (XBRL)· 20 Feb 2026verified |
| Current liabilities | 11.9 bn | 13.1 bn | 15.5 bn | 13.8 bn | 14.2 bn | 16.5 bn | SEC (XBRL)· 20 Feb 2026verified |
| Equity | 33.0 bn | 36.0 bn | 36.9 bn | 38.8 bn | 47.9 bn | 52.8 bn | SEC (XBRL)· 20 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 7.9 bn | 10.5 bn | 9.6 bn | 7.3 bn | 8.6 bn | 9.6 bn | SEC (XBRL)· 20 Feb 2026verified |
| Capex | 2.2 bn | 1.9 bn | 1.8 bn | 2.2 bn | 2.2 bn | 2.2 bn | SEC (XBRL)· 20 Feb 2026verified |
| Free cash flow | 5.7 bn ≈ | 8.6 bn ≈ | 7.8 bn ≈ | 5.1 bn ≈ | 6.4 bn ≈ | 7.4 bn ≈ | SEC (XBRL)· 20 Feb 2026derived |
| Investing cash flow | -2.2 bn | -2.0 bn | -1.7 bn | -3.1 bn | -2.3 bn | -2.4 bn | SEC (XBRL)· 20 Feb 2026verified |
| Financing cash flow | -2.8 bn | -5.5 bn | -7.6 bn | -7.1 bn | -5.4 bn | -6.3 bn | SEC (XBRL)· 20 Feb 2026verified |
| Dividends paid | 2.6 bn | 3.2 bn | 3.3 bn | 3.6 bn | 3.8 bn | 4.1 bn | SEC (XBRL)· 20 Feb 2026verified |
| Share repurchases | 403.0 m | 2.3 bn | 3.8 bn | 1.2 bn | 1.3 bn | 893.0 m | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 38 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 200.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation47
- Balance sheet70
- Quality35
- Growth2
- Returns57
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 31.54 – 120.81 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)40.65 – 73.97 (Mid 53.26)WACC 8.6% · starting FCFF 7.5 bn USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 30.8%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E47.36 – 120.81 (Mid 94.98)11 companies used · median multiple 35.3x · quartiles 17.6x – 44.9xABBV, ALNY, BMY, JNJ, LLY, PFE, REGN, RPRX, UTHR, VRTX, ZTS
- Dividend discount (DDM)31.54 – 42.41 (Mid 36.18)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 38/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 7.0% | 0 (vs peers) | 13% |
| Net margin · Quality | 9.7% | 27 (vs peers) | 8% |
| FCF conversion · Quality | 143.7% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 0.5% | 4 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -1.6% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 6.7x | 80 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.5x | 55 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 43.0x | 50 (vs peers) | 13% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.4% | 42 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 2.9% | 42 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 64.0% | 80 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet70/100 · 2/3 factors with a value
- Growth2/100 · 2/2 factors with a value
- Quality35/100 · 3/3 factors with a value
- Returns57/100 · 2/2 factors with a value
- Valuation47/100 · 2/3 factors with a value
Memo
ABBOTT LABORATORIES (ABT). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 44.3 bn USD in 2025; YoY growth 5.7%; net margin 9.7%; ROE 9.2%.
The estimated value range is 40.65–73.97 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 53.26 USD, the price of 115.51 USD leaves a potential of -53.9% (value / price − 1) and a margin of safety of -116.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 38/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 143.7%
- Interest coverage: 6.7x
- Payout ratio (FCF): 64.0%
What contradicts it
- ROIC: 7.0%
- Net margin: 9.7%
- Revenue CAGR 3Y: 0.5%
- EPS CAGR 3Y: -1.6%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Pharmaceutical Preparations (SIC 2834) · same industry (4-digit SIC) · compared with 15 companies
Only companies with a capitalisation between 22.3 bn and 1,428.4 bn (within 8× of the company's); 360 of the vertical were left out.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| LLYEli Lilly And Company | 1,334.0 bn | 46.0 | 86.1% | 31.9% | +44.7% | +32% / +140% |
| JNJJohnson & Johnson | 665.2 bn | 41.9 | 20.0% | 16.2% | +6.0% | +34% / +79% |
| ONCBeone Medicines Ltd. | 558.4 bn | 869.9 | 14.7% | 10.7% | +40.2% | +11% / +102% |
| ABBVAbbVie Inc. | 521.1 bn | 50.7 | — | 15.7% | +8.6% | +29% / +107% |
| MRKMerck & Co., Inc. | 370.7 bn | 154.7 | 5.1% | 3.6% | +1.3% | +43% / +47% |
| ABTAbbott Laboratories | 200.1 bn | 43.0 | 9.2% | 9.7% | +5.7% | −8% / +21% |
| PFEPfizer Inc | 175.5 bn | 43.9 | 4.4% | 6.3% | −1.6% | +20% / +1% |
| VRTXVertex Pharmaceuticals Inc | 139.2 bn | 35.3 | 20.8% | 30.7% | +8.9% | +27% / +55% |
| BMYBristol-Myers Squibb Company | 131.2 bn | 14.2 | 44.1% | 18.5% | −0.2% | +30% / +30% |
| TEVATeva Pharmaceutical Industries Limited | 48.8 bn | 97.4 | 6.6% | 3.6% | +4.3% | +56% / +326% |
| ZTSZoetis Inc. | 36.9 bn | 14.7 | 64.4% | 27.5% | +2.3% | −30% / −50% |
| ROIVRoivant Sciences Ltd. | 27.6 bn | — | -6.2% | -3,535.0% | −71.6% | +84% / +300% |
| RPRXRoyalty Pharma plc | 26.2 bn | 47.7 | 6.9% | 25.7% | +5.1% | +69% / +150% |
| UTHRUnited Therapeutics Corporation | 25.9 bn | 23.0 | 19.1% | 38.6% | +10.6% | +25% / +154% |
| ALNYAlnylam Pharmaceuticals, Inc. | 21.6 bn | 8.1 | 126.6% | 52.8% | +65.2% | −64% / −4% |
| REGNRegeneron Pharmaceuticals, Inc. | — | 20.6 | 14.9% | 28.5% | +1.0% | +19% / +13% |
1- and 3-year price returns: for ABT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 66.18 Total return -41% · Per year -41% | 117.24 Total return 4% · Per year 4% | 176.91 Total return 56% · Per year 56% |
| 3 years | 59.19 Total return -44% · Per year -18% | 118.44 Total return 9% · Per year 3% | 196.95 Total return 79% · Per year 21% |
| 5 years | 52.93 Total return -47% · Per year -12% | 119.66 Total return 15% · Per year 3% | 219.27 Total return 105% · Per year 15% |
- Exit P/E± 29.61
- Net margin± 20.73
- Annual revenue growth± 17.69
- Annual dilution± 1.74
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 10-Q (04 Nov 2026).
In brief
Abbott Laboratories (ABT) is a healthcare company with four segments that reported a 18.2 percent operating margin profile in fiscal 2025 1. Through the third quarter of 2026, reported sales rose 14.5 percent and comparable sales rose 7.0 percent, largely aided by the Exact Sciences acquisition 3. The deal added a cancer diagnostics pillar but also raised debt, which could affect financial flexibility if market conditions change 1.
SWOT
Strengths
- A diversified portfolio with strong positions in medical devices and glucose monitoring, supported by solid comparable growth in 2026 13.
- Global presence, with a significant share of international and emerging market sales that diversifies risk 1.
- Steady investment in research and development that produced FDA and CE Mark approvals for new products in 2025 and 2026 13.
Weaknesses
Opportunities
- Expanding cancer diagnostics through Exact Sciences and launching tests such as SimpleScreen CRC could open new markets 3.
- Growing demand for glucose monitoring and ablation devices could support long-term revenue 23.
- Emerging markets, where established pharmaceuticals are growing, offer room for expansion 13.
Risks
- Acquisition integration riskmedium
Integrating Exact Sciences could prove costlier or slower than expected, affecting profitability 12.
- Debt riskhigh
Additional borrowing could affect the credit rating and financing costs if performance weakens 1.
- Regulatory riskhigh
Failure to comply with FDA requirements could lead to recalls, fines or production shutdowns 1.
- Supply chain riskmedium
Supply disruptions or manufacturing problems could raise costs and reduce sales 1.
- Cybersecurity riskmedium
A serious information security incident could affect operations, patient data and reputation 1.
Investment thesis
What would need to be true (bull case)
- Solid comparable growth in 2026 and reaffirmed earnings guidance suggest the core business can sustain growth 3.
- If Exact Sciences integrates well, cancer diagnostics could become a new long-term revenue driver 23.
- Leadership in glucose monitoring and recent device launches could keep the company competitively placed 3.
What to watch
- Integration of Exact Sciences and Cancer Diagnostics contributionQ4 2026
- Gross margin trend after acquisition amortizationQ4 2026
- Delivery against the 2026 adjusted EPS guidance2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 21 Oct 2026; since then the company filed 10-Q (04 Nov 2026).
The business
Abbott is an Illinois corporation, incorporated in 1900, whose principal business is discovering, developing, manufacturing and selling a broad line of healthcare products 1. It has four reportable segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Medical Devices 1. In 2025 international markets made up 61 percent of consolidated net sales, and about 115,000 people were employed at December 31, 2025 1.
The business rests on diversified portfolios: rhythm management, electrophysiology, heart failure and continuous glucose monitoring devices, plus laboratory and rapid diagnostic tests 1. Since March 2026 the company also reports cancer diagnostics following the Exact Sciences acquisition 2. Supply chain and FDA regulatory risks are described as significant 1.
Revenue is shaped by pricing, rebates and competition, and in 2025 rebates and chargebacks reached 21.1 percent of gross sales 1. In December 2025 the company raised its quarterly dividend to 0.63 dollars per share, effective February 2026 1.
Segments
Medical Devices
The largest growth segment, covering rhythm management, electrophysiology, heart failure, vascular, structural heart, neuromodulation and diabetes care 1. CGM system sales reached 7.6 billion dollars in 2025 versus 6.4 billion in 2024 1, and 4.1 billion in the first six months of 2026 2.
Market context
Emerging markets represented 37 percent of total company sales in 2025 1, and those sales rose 5.1 percent in 2025 excluding foreign exchange 1. Diagnostics and devices operate in markets with intense technological competition and long regulatory approval cycles 1.
Demand for CGM and ablation products is a major growth driver, but pricing pressure and rebates could compress margins if trends shift 13.
Trends
- CGM growthtailwind
Continuous glucose monitoring sales have grown steadily, and the full-year 2026 comparable growth projection is about 6 percent 3.
- Exact Sciences integrationmixed
Cancer diagnostics adds revenue, but amortization and integration costs could lower gross margin if integration slows 2.
- Weaker respiratory testingheadwind
Demand for respiratory tests fell in 2026 due to a weaker season, which could persist if seasons remain mild 2.
- Higher indebtednessheadwind
Acquisition financing adds borrowing that could reduce flexibility in an economic slowdown 1.
Competitive position
Pharmaceutical competition comes from other healthcare companies and generic makers, while devices and diagnostics face competitors launching new products 1. In nutrition, competition comes from diversified manufacturers and private label brands 1.
Cardiac devices and glucose monitoring have numerous rivals, and new technologies could erode Abbott's technological advantage 1.
- MedtronicMDT
Direct rival in rhythm management, electrophysiology and neuromodulation within medical devices.
- Boston ScientificBSX
Rival in electrophysiology and interventional cardiology, among device makers launching new products.
- DexcomDXCM
Rival in continuous glucose monitoring, an area where Abbott holds a major position.
- Nestlé
Rival in pediatric and adult nutrition, among diversified consumer product makers.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- What Makes Abbott Laboratories (ABT) an Attractive Opportunity?Yahoo Finance — News · 23 Sept 2026 · EN
- Abbott Laboratories vs. Intuitive Surgical: Recent Quarterly Revenue Trends Reveal a Classic Investing TruthYahoo Finance — News · 21 Sept 2026 · EN
- Abbott Laboratories probes two cyber incidents amid extortion claimsBleepingComputer · 17 Jul 2026 · RO
The latest news item in our archive is from 23 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report21 Oct 2026Other events · Financial statements and exhibits
- Current report21 Oct 2026Results of operations · Financial statements and exhibits
- Current report20 Aug 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report28 Jul 2026
- Current report16 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Apr 2026
- Current report27 Apr 2026Departure or appointment of officers · Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
- Current report17 Apr 2026Other events · Financial statements and exhibits
- Current report16 Apr 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / ABT · 20 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / ABT · 28 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / ABT · 21 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.