AbbVie Inc.
NYSE: ABBV·North Chicago, Illinois·CIK 0001551152
- Price
- $261.78
- Base IV
- $174.83
- Your value
- $174.83
- -33.2%
Valuation snapshot
Price is between the base and bull cases. Price as of Oct 1, 2026 · Valuation Aug 16, 2026.
Track record
Reported financials are not available yet.
Why the gap?
At $261.78 the market is pricing AbbVie Inc. as if revenue grows 14.9% a year. This valuation assumes it grows 5.2% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.
Implied by price
+14.9%
revenue growth a year, holding everything else researched
Assumed here
+5.2%
researched base case, grounded in filings and guidance
Or, growth held
48.7%
operating margin reproduces the price, vs 32.5% assumed
Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.
Your valuation
Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.
- 01 Revenue growth7.5%
- 02 Operating margin32.5%
- 03 Risk and beta0.55
- 04 Long-run growth2.2%
About 4 minutes · no account needed
What drives the base case
All three cases →AbbVie has already navigated its biggest risk: Humira sales have collapsed by more than a third a year, yet total revenue still grew 10.2% last quarter because Skyrizi and Rinvoq together brought in over $8 billion in three months. Management has publicly committed to high-single-digit annual sales growth through 2029 and raised its 2026 outlook twice, so this case follows that path and then lets growth ease to around 3% as the guidance window closes. Reported profitability has been artificially depressed by write-offs on acquired drug programs — swinging from 12% to 38% of sales across recent quarters — and this case assumes it settles at a healthier middle level as those charges fade and older Allergan-era costs roll off. Taxes drift up slightly from the company's unusually low current rate as global minimum-tax rules take hold, and the company keeps buying pipeline assets like Apogee at a steady, financeable pace.
What shapes the assumptions
No structured value drivers are attached to this valuation yet.
How confident is this estimate?
Quality checksSome of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.
- Scenario dispersion4.9
- Terminal-value dependency2.0
- Historical stability7.9
- Margin predictability3.0
Why the number moved
No prior valuation bridge is available yet. Future recalculations will explain what moved.
Base estimate
$174.83 -33.2%