Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $56.2B | $58.1B | $54.3B | $56.3B | $61.2B |
| YoY | — | +3.3% | -6.4% | +3.7% | +8.6% |
| Cost of goods sold | $17.4B | $17.4B | $20.4B | $16.9B | $18.2B |
| YoY | — | -0.2% | +17.2% | -17.2% | +7.7% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $12.3B | $15.3B | $12.9B | $14.8B | $14.0B |
| YoY | — | +23.6% | -15.6% | +14.6% | -5.0% |
| Operating income | $17.9B | $18.1B | $12.8B | $9.1B | $15.1B |
| YoY | — | +1.1% | -29.6% | -28.4% | +65.0% |
| Pretax income | $13.0B | $13.5B | $6.2B | $3.7B | $6.6B |
| YoY | — | +3.8% | -53.6% | -40.5% | +77.5% |
| Income tax | $1.4B | $1.6B | $1.4B | $-570.0M | $2.4B |
| YoY | — | +13.3% | -15.6% | -141.4% | +514.7% |
| Net income | $11.5B | $11.8B | $4.9B | $4.3B | $4.2B |
| YoY | — | +2.5% | -58.9% | -12.0% | -1.2% |
| EPS — basic | $6.48 | $6.65 | $2.73 | $2.40 | $2.37 |
| YoY | — | +2.6% | -58.9% | -12.1% | -1.2% |
| EPS — diluted | $6.45 | $6.63 | $2.72 | $2.39 | $2.36 |
| YoY | — | +2.8% | -59.0% | -12.1% | -1.3% |
| Weighted shares — basic | 1.77B | 1.77B | 1.77B | 1.77B | 1.77B |
| Weighted shares — diluted | 1.78B | 1.78B | 1.77B | 1.77B | 1.77B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $9.7B | $9.2B | $12.8B | $5.5B | $5.2B |
| YoY | — | -5.6% | +39.3% | -56.9% | -5.3% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $10.0B | $11.3B | $11.2B | $10.9B | $12.6B |
| YoY | — | +12.8% | -0.9% | -2.1% | +15.3% |
| Inventory | $3.1B | $3.6B | $4.1B | $4.2B | $5.0B |
| YoY | — | +14.4% | +14.5% | +2.0% | +18.4% |
| Total current assets | $27.9B | $28.5B | $33.0B | $25.6B | $29.1B |
| YoY | — | +1.9% | +15.9% | -22.5% | +13.6% |
| Total assets | $146.5B | $138.8B | $134.7B | $135.2B | $134.0B |
| YoY | — | -5.3% | -2.9% | +0.3% | -0.9% |
| Total current liabilities | $35.2B | $29.5B | $37.8B | $38.7B | $43.3B |
| YoY | — | -16.1% | +28.1% | +2.4% | +11.7% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $15.4B | $17.3B | $10.4B | $3.3B | $-3.3B |
| YoY | — | +12.0% | -40.0% | -67.9% | -198.3% |
| Shares outstanding | — | — | — | — | — |
| YoY | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $22.8B | $24.9B | $22.8B | $18.8B | $19.0B |
| YoY | — | +9.5% | -8.4% | -17.7% | +1.2% |
| Capital expenditures | $787.0M | $695.0M | $777.0M | $974.0M | $1.2B |
| YoY | — | -11.7% | +11.8% | +25.4% | +24.6% |
| Free cash flow | $22.0B | $24.2B | $22.1B | $17.8B | $17.8B |
| YoY | — | +10.3% | -9.0% | -19.2% | -0.1% |
| Dividends paid | $9.3B | $10.0B | $10.5B | $11.0B | $11.7B |
| YoY | — | +8.4% | +4.9% | +4.6% | +5.7% |
| Share repurchases | $934.0M | $1.5B | $2.0B | $1.7B | $980.0M |
| YoY | — | +59.2% | +32.6% | -13.4% | -42.6% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 31.9% | 31.2% | 23.5% | 16.2% | 24.6% |
| Net margin | 20.5% | 20.4% | 9.0% | 7.6% | 6.9% |
| Free cash flow margin | 39.1% | 41.8% | 40.6% | 31.7% | 29.1% |
| Effective tax rate | 11.1% | 12.1% | 22.0% | -15.3% | 35.8% |
| Current ratio | 0.79x | 0.96x | 0.87x | 0.66x | 0.67x |
| Total liabilities / equity | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| ABBV FY25 · this stock | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.