AbbVie Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF on AbbVie Inc: FCF base of $18.5B (normalized off FY2025 reported free cash flow of $17.8B, adjusted up slightly for continued Skyrizi/Rinvoq-driven growth); FCF grown 7%/year years 1-5 (post-Humira-cliff reacceleration), 4%/year years 6-10; 7.5% discount rate (large-cap pharma WACC); 3% terminal growth; net debt of $64.3B (total debt $70.9B less cash/short-term investments $6.6B) subtracted; ~1.77 billion shares outstanding.

Reasoning: AbbVie is a large, mature, highly cash-generative pharma with clear, well-disclosed cash flows and a completed Humira patent-cliff transition now offset by Skyrizi/Rinvoq growth, so a standard multi-stage FCF DCF with growth decelerating toward GDP-plus terminal growth is appropriate.