AbbVie Inc.
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total net revenue (FY2025) | $61.16 billion, up 8.6% year-over-year (8.5% operationally) |
| GAAP net income (FY2025) | $4.226 billion, roughly flat versus $4.278 billion in FY2024 (see note above on recurring non-GAAP adjustments) |
| Adjusted net income (FY2025, non-GAAP) | $17.784 billion |
| Diluted EPS (FY2025) | $2.36 GAAP (down 1.3% YoY); $10.00 adjusted (down 1.2% YoY) |
| R&D spending (FY2025) | $9.096 billion, about 15.5% of adjusted revenue |
| Skyrizi revenue (FY2025) | $17.562 billion, AbbVie's largest single product |
| Rinvoq revenue (FY2025) | $8.304 billion |
| Humira revenue (FY2025) | $4.540 billion, continuing to decline due to biosimilar competition following loss of U.S. exclusivity |
Sources: Total net revenue, revenue by therapeutic area, key product revenue, R&D spending and EPS figures are company-disclosed, from AbbVie's Full-Year and Fourth-Quarter 2025 earnings release (reported February 4, 2026). GAAP net income of $4.226 billion is far below AbbVie's non-GAAP adjusted net income of $17.784 billion; this is not a one-time event but AbbVie's recurring reporting pattern (GAAP net income was similarly $4.278 billion in FY2024), driven mainly by large recurring non-cash/non-operational items: $6.221 billion after-tax of acquired intangible asset amortization (largely from the 2020 Allergan acquisition), a $6.309 billion after-tax change in fair value of contingent consideration liabilities, $4.9 billion after-tax of acquired IPR&D and milestones expense from business-development deals, and smaller impairment and acquisition/integration charges. The Revenue by Therapeutic Area pie uses AbbVie's six disclosed portfolio categories, which together total about $58.5 billion versus $61.16 billion in total net revenue; the roughly $2.6 billion gap reflects revenue (e.g., certain established/general medicine and other products) not further broken out by therapeutic area in the earnings release.