Health Care · NYSE: ABT
Abbott: how the business works
Abbott Laboratories makes medical devices, diagnostic tests, nutrition products and branded generic medicines, with sales of $44.3 billion in FY2025.
By Hardik Bhandare · Checked against filings: . Editorial policy. Corrections
Follow Abbott
Email me when Abbott's page is updated after earnings.
We'll send a confirmation email first. See our privacy policy.
Abbott Laboratories · Abbott Park, Illinois
Updated for Q3 FY2026 · checked
- Sales, FY2025
- $44.3B
- Net earnings, FY2025
- $6.5B
- Countries where its products are sold
- More than 160
- Employees, Dec 31, 2025
- About 115,000
- Incorporated in Illinois
- 1900
The short version
Abbott in 5 points
1 · What it sells
Abbott sells medical devices, diagnostic tests, nutrition products and branded generic medicines, with FY2025 sales of $21.4 billion, $8.9 billion, $8.5 billion and $5.5 billion, or $44.3 billion in total.
2 · Who pays it
Abbott reports no revenue by type of payer and no customer whose loss would be material; by location, customers in the US were 38.6% of FY2025 sales and customers outside the US 61.4%.
3 · What it keeps from $100
Of every $100 that came in during FY2025, Abbott kept $14.4 as net earnings, after about $610 million of tax tied to its FY2024 tax benefit, and its operating earnings were $18.17 per $100 of sales.
4 · Where the operating profit comes from
Medical Devices made 61.1% of Abbott's FY2025 segment operating earnings on 48.2% of sales, Diagnostics 14.7%, Nutrition 13.2% and Established Pharmaceuticals 10.9%.
5 · The one thing to watch
Abbott's total debt rose from $12.9 billion at Dec 31, 2025 to $31.2 billion at Sep 30, 2026 after the Exact Sciences deal, and Q3 FY2026 diluted EPS was $0.53 against $0.94 a year earlier.
Sources: From Abbott's FY2025 10-K, Q3 FY2026 10-Q and Q3 FY2026 earnings release · checked
See the full receipt and the management scorecard below
01Where the money goes · FY2025
Where does $100 of Abbott's money go?
Abbott · FY2025
Receipt for every $100
| Cost of making products | $42.7 |
|---|---|
| Selling, general and admin | $27.3 |
| Research and development | $6.5 |
| Amortization of acquired intangibles | $3.7 |
| Interest expense | $1.1 |
| Income tax | $4.3 |
| Kept as net earnings | $14.4 |
| Total | $100 |
Each line = amount ÷ total money in × 100. Lines may not add to exactly $100 because of rounding.
How this is worked out
Cityfort calculation from the FY2025 10-K. Of every $100 that came in during FY2025 (sales of $44.3 billion plus $906 million of interest, currency and other income): each line = line ÷ $45.2 billion × 100.
Save this receipt as an image:
1080 × 1350 PNG for Instagram, LinkedIn1200 × 675 PNG for X
Embed this receipt
Paste this code into a blog or website to show the receipt, with a link back to this page:
Each week: one company explained in 5 points, picked by earnings date.
Free, no tips, unsubscribe anytime.
We'll send a confirmation email. See our privacy policy.
02The business in one line
What does Abbott do?
Buyers in more than 160 countries pay Abbott for medical devices, diagnostic tests, nutrition products and branded generic medicines; most of the money goes on making and selling them, and what is left is profit.
- Medical Devices, which include FreeStyle Libre glucose sensors, were 48.2% of FY2025 sales. Customers outside the US were 61.4% of sales.
- Abbott kept $14.4 of every $100 that came in during FY2025 as net earnings, or $6.5 billion. Net earnings fell to $2.9 billion in the first nine months of FY2026, from $4.7 billion a year earlier, after the Exact Sciences deal and legal settlements.
03Who pays it
Who pays Abbott?
Customers in the US
39%
of revenue
38.6% of FY2025 sales ($17.1 billion). Shares here are by location, because Abbott does not report revenue by type of payer.
Customers outside the US
61%
of revenue
61.4% of FY2025 sales ($27.2 billion), including Germany ($2.8 billion), China ($1.9 billion), Switzerland ($1.9 billion) and India ($1.9 billion). Emerging markets were 37% of sales.
- Customers in the US39%
- Customers outside the US61%
How spread out the customers are
Abbott says it has no single customer whose loss would have a material adverse effect. It does not report revenue by customer type or by payer, such as insurers or government programs. The US and outside-US shares are a Cityfort calculation from the FY2025 10-K.
04Why it makes money
Why does Abbott make money?
Abbott earns the most per dollar on medical devices, so its profit depends on how fast devices grow, and COVID tests showed how quickly a segment can shrink.
Medical Devices kept $33.7 of segment operating earnings per $100 of FY2025 sales, against $18.4 to $23.3 in the other three segments. Devices' share of segment operating earnings rose from 33.8% in FY2021 to 61.1% in FY2025, as COVID test sales fell and Diabetes Care grew.
Medical Devices' share of segment operating earnings (Cityfort calculation from the FY2023 and FY2025 10-Ks)
33.8%61.1%
FY2021 to FY2025
- Abbott develops or buys a device, test or product
- Doctors, labs and shoppers start using it
- Sales spread across more than 160 countries
- Devices kept $33.7 of segment operating earnings per $100 of FY2025 sales
- Cash pays for research, deals and dividends
- New products and deals such as Exact Sciences add sales
↺ Step 6 feeds back into step 1.
05Business segments · FY2025
Which businesses make up Abbott?
Medical Devices
48%Heart, diabetes and nerve-stimulation devices. Segment operating earnings were $7.2 billion, or 61.1% of the four segments' total (Cityfort calculation from the FY2025 10-K). Sales were $5.8 billion in Q3 FY2026.
Revenue $21.4B · Operating profit $7.2B
Diagnostics
20%Lab instruments and tests, rapid tests and, from Mar 23, 2026, Exact Sciences' cancer tests. Segment operating earnings were $1.7 billion, or 14.7% of the total, down from $6.6 billion in FY2022 as COVID test sales fell. Sales were $3.3 billion in Q3 FY2026.
Revenue $8.9B · Operating profit $1.7B
Nutrition
19%Infant formula and adult nutrition drinks. Segment operating earnings were $1.6 billion, or 13.2% of the total. Abbott said on Oct 21, 2026 that it intends to spin the segment off. Sales were $2.3 billion in Q3 FY2026.
Revenue $8.5B · Operating profit $1.6B
Established Pharmaceuticals
13%Branded generic medicines sold only outside the US. Segment operating earnings were $1.3 billion, or 10.9% of the total. Sales were $1.6 billion in Q3 FY2026.
Revenue $5.5B · Operating profit $1.3B
How the mix changed
- Medical Devices
- Diagnostics
- Nutrition
- Established Pharmaceuticals
Revenue by segment, FY2021 to FY2025.
US$
See the numbers
06The numbers · Consolidated · US$
How has Abbott done?
Revenue
$44.3BFY2025
Sales fell from $43.7 billion in FY2022 to $40.1 billion in FY2023 as COVID test sales dropped, then rose to $44.3 billion in FY2025; Q3 FY2026 sales of $13.0 billion include Exact Sciences.
US$
See the numbers
Net profit
$6.5BFY2025
Net earnings were $13.4 billion in FY2024 with a $7.5 billion non-cash tax benefit and $6.5 billion in FY2025; Q3 FY2026 net earnings were $920 million after Exact Sciences amortization and interest and an about $670 million legal charge.
US$
See the numbers
Profit kept per $100 of revenue
$14.7FY2025
EBITDA per $100 of sales fell from $27.8 in FY2021 to $25.2 in FY2025; EBITDA is operating earnings plus depreciation and amortization, a Cityfort calculation from the FY2023 and FY2025 10-Ks, and is not shown by quarter.
$ of profit per $100 of revenue (net margin)
See the numbers
Free cash flow
$7.4BFY2025
Free cash flow, cash from operations minus purchases of property and equipment, fell from $8.6 billion in FY2021 to $5.1 billion in FY2023 and was $7.4 billion in FY2025.
US$ · cash from operations minus spending on plants and equipment
See the numbers
See all yearly numbers
EBITDA here = operating income plus depreciation and amortization (from the cash flow statement). Fiscal years are the company's own (December 31 (the fiscal year is the calendar year)). Net profit is the share belonging to the company's owners.
Download Abbott's yearly and quarterly numbers (CSV, with source ids)
Learn: Stock-based compensation and dilution: pay that becomes shares
Sources (13)
- Form 10-K for fiscal 2023 (year ended Dec 31, 2023)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- Q4 and full-year 2024 earnings release (8-K Ex. 99.1)
- Q1 2025 earnings release (8-K Ex. 99.1)
- Q2 2025 earnings release (8-K Ex. 99.1)
- Q3 2025 earnings release (8-K Ex. 99.1)
- Q4 and full-year 2025 earnings release (8-K Ex. 99.1)
- Q1 2026 earnings release (8-K Ex. 99.1)
- Form 10-Q for Q1 2026 (quarter ended Mar 31, 2026)
- Q2 2026 earnings release (8-K Ex. 99.1)
- Form 10-Q for Q2 2026 (quarter ended Jun 30, 2026)
- Q3 2026 earnings release (8-K Ex. 99.1)
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
07Who runs it
Who runs Abbott, and did they deliver?
Robert B. Ford
Chairman and CEO · since 2020
CEO since 2020 and chairman since 2021. His 2025 total pay in the summary compensation table was $24,198,660, which the proxy puts at 166 times the median employee's $145,528.
Philip P. Boudreau
Executive Vice President, Finance and Chief Financial Officer · since 2023
CFO since 2023.
Lisa D. Earnhardt
Executive Vice President and Group President, Medical Devices
Leads the largest segment, with $21.4 billion of FY2025 sales.
Daniel Salvadori
Executive Vice President and Group President, Established Pharmaceuticals and Nutritional Products
Named on Oct 21, 2026 as CEO-designate of the Nutrition company Abbott intends to spin off.
Christopher J. Scoggins
Executive Vice President, Diabetes Care
Leads the FreeStyle Libre business.
What they said, and what happened
2 delivered · 2 too early to tell
Said on Jan 22, 2025
FY2025 adjusted diluted EPS of $5.05 to $5.25.
DeliveredWhat happened
Abbott reported FY2025 adjusted diluted EPS of $5.15. GAAP diluted EPS was $3.72.
Said on Jul 16, 2026
Q3 FY2026 adjusted diluted EPS of $1.38 to $1.46.
DeliveredWhat happened
Abbott reported $1.42. GAAP diluted EPS was $0.53.
Said on Jan 22, 2026
FY2026 organic sales growth of 6.5% to 7.5% and adjusted diluted EPS of $5.55 to $5.80.
Too early to tellWhat happened
On Apr 16, 2026 Abbott cut the EPS range to $5.38 to $5.58, including $0.20 of Exact Sciences dilution. On Oct 21, 2026 it lowered comparable growth to about 6.0% and gave EPS of $5.50 to $5.55.
Said on Oct 21, 2026
Abbott intends to spin off its Nutrition business as a separate public company, with completion expected by the end of 2027.
Too early to tellWhat happened
Subject to regulatory approvals, a Form 10 filing and final board approval.
Sources (8)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- 2026 proxy statement (DEF 14A)
- 8-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1)
- Q4 and full-year 2024 earnings release (8-K Ex. 99.1)
- Q4 and full-year 2025 earnings release (8-K Ex. 99.1)
- Q2 2026 earnings release (8-K Ex. 99.1)
- Q3 2026 earnings release (8-K Ex. 99.1)
- Q1 2026 earnings release (8-K Ex. 99.1)
08What could go wrong
What could go wrong for Abbott?
- Debt
Debt from the Exact Sciences deal
Total debt rose from $12.9 billion at Dec 31, 2025 to $31.2 billion at Sep 30, 2026. Abbott's 10-K says the extra debt reduces flexibility and that further borrowing could hurt its credit ratings. S&P's rating moved from AA- to A+ in early 2026.
Watch Total debt in each 10-Q, and the ratings Abbott states in its filings.
- Legal
Infant formula lawsuits
Abbott took an about $670 million charge in Q3 FY2026 to settle about 2,000 preterm formula (NEC) claims, and paid about $385 million in a Justice Department matter. Its 10-Q says remaining NEC cases could be material.
Watch The legal note in each 10-Q.
- Competition
Slower FreeStyle Libre growth
Diabetes Care was $8.0 billion, or 18.0% of FY2025 sales. CGM sales growth slowed from 20.5% in Q3 FY2025 to 7.3% in Q3 FY2026, as reported. Abbott's 10-K lists competitors' new products as a risk.
Watch CGM sales growth in each earnings release.
- Execution
Lower GAAP profit after the deal
Q3 FY2026 diluted EPS was $0.53, against $0.94 a year earlier, while adjusted EPS was $1.42. Abbott estimates amortization of about $3.0 billion in 2026 and $2.7 billion in 2027, and says Exact's earnings contribution so far was not material.
Watch GAAP net earnings and amortization in each 10-Q.
- Execution
Separating Nutrition
Abbott said on Oct 21, 2026 that it intends to spin off Nutrition, a segment with $8.5 billion of FY2025 sales, by the end of 2027. The plan depends on regulatory approvals and final board approval, and one-time costs are not yet quantified.
Watch A Form 10 filing and the cost estimate Abbott says it will give later.
- Regulation
Manufacturing and regulation
The 2022 formula recall and plant stoppage at Sturgis, Michigan cut Nutrition's segment operating earnings to $706 million. Abbott's 10-K lists complex manufacturing, supplier problems and heavy regulation as risks.
Watch Recalls, FDA actions and segment operating earnings in each 10-Q.
- Currency
Currency and markets outside the US
Customers outside the US were 61.4% of FY2025 sales and emerging markets 37%. Abbott's 10-K says currency moves have hurt its results, and sales in China fell from $2.3 billion in FY2023 to $1.9 billion in FY2025.
Watch Growth excluding currency in each earnings release.
Sources (8)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
- Form 10-Q for Q1 2026 (quarter ended Mar 31, 2026)
- 8-K filed Aug 20, 2026: agreements to resolve preterm infant formula (NEC) claims (Ex. 99.1)
- Q3 2025 earnings release (8-K Ex. 99.1)
- Q3 2026 earnings release (8-K Ex. 99.1)
- 8-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1)
- Form 10-K for fiscal 2023 (year ended Dec 31, 2023)
09Both sides
What do supporters and critics point to?
What supporters point to
- Medical Devices sales rose every year from $14.5 billion in FY2021 to $21.4 billion in FY2025.
- Diabetes Care sales grew from $4.3 billion in FY2021 to $8.0 billion in FY2025.
- Free cash flow was $7.4 billion in FY2025, and dividends paid were $4.1 billion.
- Abbott raised its dividend in 2026, which it calls its 54th consecutive year of increases.
- Abbott's FY2025 adjusted EPS of $5.15 was inside the $5.05 to $5.25 range it gave in January 2025; GAAP diluted EPS was $3.72.
What critics point to
- Total debt rose from $12.9 billion at Dec 31, 2025 to $31.2 billion at Sep 30, 2026, and S&P's rating moved from AA- to A+.
- Q3 FY2026 diluted EPS was $0.53, against $0.94 a year earlier.
- CGM sales growth slowed from 20.5% in Q3 FY2025 to 7.3% in Q3 FY2026, as reported.
- Abbott lowered its FY2026 comparable sales growth outlook to about 6.0% on Oct 21, 2026, from 6.5% to 7.5%.
- Abbott says remaining preterm formula (NEC) cases could be material, after an about $670 million charge in Q3 FY2026.
10What to watch next
What should you watch next at Abbott?
Next event
Q4 FY2026 results
Date not announced yet.
Debt after Exact Sciences
Total debt was $31.2 billion at Sep 30, 2026, against $12.9 billion at Dec 31, 2025. Abbott repaid about $1.3 billion of euro notes in September 2026.
FreeStyle Libre growth
CGM sales grew 7.3% in Q3 FY2026, as reported, against 20.5% in Q3 FY2025. Diabetes Care was $8.0 billion of FY2025 sales.
Nutrition spin-off and formula cases
Abbott said on Oct 21, 2026 that it intends to spin off Nutrition by the end of 2027, subject to approvals. Its Q3 FY2026 10-Q says remaining NEC cases could be material.
11Key dates
What are the key dates for Abbott?
| Event | Date | Source |
|---|---|---|
| Nutrition spin-off expectedAbbott said on Oct 21, 2026 that it expects completion by the end of 2027, subject to regulatory approvals, a Form 10 filing and final board approval. | Not yet stated | 8-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1) |
12Key facts
Key facts about Abbott
- What does Abbott do?
- Abbott Laboratories, incorporated in Illinois in 1900, makes medical devices, diagnostic tests, nutrition products and branded generic medicines sold in more than 160 countries. Abbott had sales of $44.3 billion in FY2025 and about 115,000 employees at Dec 31, 2025.
- How does Abbott make money?
- Abbott makes money by selling health care products in four segments. In FY2025 Abbott's Medical Devices segment brought in $21.4 billion (48.2% of sales), Diagnostics $8.9 billion (20.2%), Nutrition $8.5 billion (19.1%) and Established Pharmaceuticals $5.5 billion (12.5%).
- What is Abbott's business model?
- Abbott's business model is to make and sell many kinds of health care products worldwide, with devices earning the most per dollar. In FY2025 Abbott's Medical Devices segment made $33.7 of segment operating earnings per $100 of sales and 61.1% of the four segments' total.
- Is Abbott profitable?
- Yes. Abbott reported net earnings of $6.5 billion in FY2025 on sales of $44.3 billion, and $2.9 billion in the first nine months of FY2026. Abbott's FY2024 net earnings of $13.4 billion included a $7.5 billion non-cash tax benefit.
- What is Abbott's revenue by segment?
- In Q3 FY2026 Abbott's sales were $5.8 billion in Medical Devices, $3.3 billion in Diagnostics (including $968 million from Cancer Diagnostics), $2.3 billion in Nutrition and $1.6 billion in Established Pharmaceuticals, which sells branded generic medicines only outside the US. Total sales were $13.0 billion.
- Who are Abbott's customers?
- Abbott does not report revenue by type of customer, and says no single customer's loss would have a material adverse effect. Customers in the US were 38.6% of Abbott's FY2025 sales and customers outside the US 61.4%. Abbott's branded generic medicines go to wholesalers, distributors, government agencies and pharmacies outside the US.
- Who owns Abbott?
- Abbott Laboratories is widely held, with one class of common shares and one vote per share. Vanguard Capital Management reported 7.50% in an April 2026 filing and BlackRock 7.7% in a January 2024 filing. Abbott's directors and executive officers as a group held less than 1% on Jan 31, 2026.
- How much does Abbott earn from FreeStyle Libre and medical devices?
- Abbott's Diabetes Care sales, mainly FreeStyle Libre continuous glucose monitors (CGM), were $8.0 billion in FY2025, up from $4.3 billion in FY2021. CGM sales were $7.6 billion in FY2025. Abbott's whole Medical Devices segment had sales of $21.4 billion in FY2025, including $12.4 billion of heart devices.
- How much does Abbott earn from diagnostic tests?
- Abbott's Diagnostics sales were $8.9 billion in FY2025, down from $16.5 billion in FY2022, as COVID-19 test sales fell from about $8.4 billion to $297 million. Since Mar 23, 2026 the segment includes Exact Sciences' cancer tests, which had $968 million of sales in Q3 FY2026.
- How much does Abbott earn from nutrition products?
- Abbott's Nutrition sales were $8.5 billion in FY2025: $4.0 billion from pediatric products such as Similac, PediaSure and Pedialyte, and $4.5 billion from adult products such as Ensure and Glucerna. The segment made $1.6 billion of segment operating earnings in FY2025.
Sources (6)
Terms on this page
- Capital expenditures (capex)
- Debt-to-equity
- Dividend payout ratio
- Earnings per share (EPS)
- EBITDA
- Free cash flow
- Gross margin
- Market cap
- Net debt
- Net margin
Each explains the term in plain English, with the same number from other companies on Cityfort.
Go deeper
More detail from the same filings. Open any section.
13What it sells
13What it sells
What does Abbott sell?
Diabetes Care ($8.0B in FY2025)
FreeStyle Libre continuous glucose monitors (CGM), sensors that track blood sugar levels, and Lingo. CGM sales were $7.6 billion in FY2025, up from $6.4 billion in FY2024.
Heart devices ($12.4B in FY2025)
Aveir leadless pacemakers, Volt and TactiFlex heart-rhythm catheters, HeartMate and CardioMEMS for heart failure, XIENCE stents, and MitraClip, TriClip, Navitor and Amulet for heart valves and structures (sum of five product lines, Cityfort calculation from the FY2025 10-K).
Neuromodulation ($1.0B in FY2025)
Devices that send electrical signals to nerves.
Core Laboratory tests ($5.4B in FY2025)
Alinity and ARCHITECT instruments and tests that labs use for immunoassay, clinical chemistry, hematology and blood screening.
Rapid, Molecular and Point of Care tests ($3.6B in FY2025)
BinaxNOW, Panbio and ID NOW rapid tests, molecular tests and the i-STAT handheld blood analyzer. COVID-19 test sales were $297 million in FY2025.
Cancer Diagnostics (from Mar 23, 2026)
Exact Sciences' cancer screening and diagnostic tests, such as Cologuard, Oncotype DX, Oncodetect and Cancerguard. Sales were $968 million in Q3 FY2026.
Nutrition ($8.5B in FY2025)
Pediatric products such as Similac formula, PediaSure and Pedialyte ($4.0 billion), and adult products such as Ensure and Glucerna ($4.5 billion).
Established Pharmaceuticals ($5.5B in FY2025)
Branded generic medicines, such as Creon, Duphaston and Influvac, sold only outside the US. Key emerging markets brought in $4.2 billion.
What it does
- Does: Sells its products in more than 160 countries
- Does: Buys companies to add products: it paid about $20.6 billion for Exact Sciences in March 2026
- Does: Pays a quarterly dividend, raised in 2026 for what Abbott calls the 54th consecutive year
What it does not do
- Does not: Does not sell its branded generic medicines in the US
- Does not: No longer earns much from COVID-19 tests: $297 million in FY2025, against about $8.4 billion in FY2022
- Does not: Does not plan to keep Nutrition: Abbott said on Oct 21, 2026 that it intends to spin it off as a separate company by the end of 2027
14How the money flows
14How the money flows · FY2025
How does money flow through Abbott?
Money in
- Medical Devices sales$21.4B
- Diagnostics sales$8.9B
- Nutrition sales$8.5B
- Established Pharmaceuticals and other sales$5.6B
- Interest, currency and other income$906M
The company
Abbott
$45.2B came in
Money out
- Cost of making products$19.3B
- Selling, general and admin$12.3B
- Research and development$2.9B
- Amortization of acquired intangibles$1.7B
- Interest expense$493M
- Income tax$1.9B
- Net earnings$6.5B
- Buyers paid Abbott $44.3 billion in FY2025, $21.4 billion of it for medical devices.
- Making the products cost $19.3 billion. Selling and admin took $12.3 billion, and research took $2.9 billion.
- Amortization, the yearly write-down of products and patents Abbott bought, took $1.7 billion. Operating earnings were $8.1 billion, or $18.17 per $100 of sales.
- Interest, currency and other income added $906 million, and interest expense took $493 million.
- Income tax took $1.9 billion, including about $610 million tied to the FY2024 tax benefit. $6.5 billion was left as net earnings.
15What it needs to run
15What it needs to run
What does Abbott need to run?
Research
Research and development cost $2.9 billion in FY2025, or 6.6% of sales. Abbott said in its FY2025 10-K that it targets about 7% of sales in 2026.
Factories and suppliers
Abbott's 10-K names supply-chain and manufacturing problems as risks. A 2022 recall and plant stoppage at Sturgis, Michigan cut Nutrition's segment operating earnings to $706 million that year.
Regulatory clearances
Abbott's devices, tests, formula and medicines are heavily regulated, and its 10-K lists compliance costs and penalties as a risk.
People
About 115,000 employees at Dec 31, 2025, 69% of them outside the US. Abbott said it had 122,000 after adding Exact Sciences.
16Where it sells
16Where it sells · FY2025
Where does Abbott sell?
- United States39%
- Germany6%
- China4%
- Switzerland4%
- India4%
- Japan3%
- United Kingdom3%
- All other countries36%
17Where growth could come from
17Where growth could come from
Where could Abbott's growth come from?
Abbott said in its Q3 FY2026 earnings release (Oct 21, 2026) that it expects FY2026 comparable sales growth of about 6.0%, down from the 6.5% to 7.5% it gave earlier, and adjusted diluted EPS of $5.50 to $5.55. Comparable growth includes Exact Sciences in both years and leaves out currency moves.
FreeStyle Libre (Diabetes Care)
MixedCGM sales up 7.3% in Q3 FY2026
CGM sales grew 20.5% in Q3 FY2025 and 7.3% in Q3 FY2026, as reported. Diabetes Care sales were $8.0 billion in FY2025 and $2.2 billion in Q3 FY2026.
Status: Mixed, partly on track.
Cancer Diagnostics (Exact Sciences)
New$968M in Q3 FY2026
Exact Sciences joined on Mar 23, 2026. Its products added $2.0 billion of sales in the first nine months, and Abbott says their earnings contribution was not material.
Status: New, recently announced.
Heart and other devices
WorkingMedical Devices up 7.8% comparable in Q3 FY2026
Medical Devices sales were $5.8 billion in the quarter. Segment sales rose every year from $14.5 billion in FY2021 to $21.4 billion in FY2025.
Status: Working, on track against what the company said.
Established Pharmaceuticals
WorkingUp 8.4% comparable in Q3 FY2026
Sales of branded generic medicines were $1.6 billion in Q3 FY2026. Emerging markets were 37% of Abbott's FY2025 sales.
Status: Working, on track against what the company said.
Nutrition
MixedDown 2.1% comparable in nine months of FY2026
Nutrition rose 4.9% on a comparable basis in Q3 FY2026. Abbott said on Oct 21, 2026 that it intends to spin the business off by the end of 2027.
Status: Mixed, partly on track.
Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.
Sources (6)
- Q3 2026 earnings release (8-K Ex. 99.1)
- Q3 2025 earnings release (8-K Ex. 99.1)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
- Form 10-K for fiscal 2023 (year ended Dec 31, 2023)
- 8-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1)
18The company's own measures (non-GAAP)
18The company's own measures · FY2024, FY2025, Q3 FY2026 and the first nine months of FY2026
What do Abbott's own measures show?
Official (GAAP): Diluted EPS, FY2025
$3.72
Company's own measure: Adjusted diluted EPS, FY2025
$5.15
Abbott leaves out intangible amortization ($1.7 billion before tax), restructuring, legal reserves and other specified items. On Jan 22, 2025 it had said it expected $5.05 to $5.25.
Official (GAAP): Net earnings, FY2025
$6.5B
Company's own measure: Adjusted net earnings, FY2025
$9.0B
Same exclusions. Specified items were $2.3 billion before tax.
Official (GAAP): Diluted EPS, FY2024
$7.64
Company's own measure: Adjusted diluted EPS, FY2024
$4.67
Here adjusted is below GAAP, because Abbott leaves out the $7.5 billion non-cash tax benefit.
Official (GAAP): Net earnings, FY2024
$13.4B
Company's own measure: Adjusted net earnings, FY2024
$8.2B
Same exclusions, including the tax benefit.
Official (GAAP): Diluted EPS, Q3 FY2026
$0.53
Company's own measure: Adjusted diluted EPS, Q3 FY2026
$1.42
Specified items before tax: amortization $841 million, legal settlements about $670 million and other $178 million. Abbott had guided $1.38 to $1.46 on Jul 16, 2026.
Official (GAAP): Net earnings, Q3 FY2026
$920M
Company's own measure: Adjusted net earnings, Q3 FY2026
$2.5B
Same exclusions.
Official (GAAP): Diluted EPS, first nine months of FY2026
$1.67
Company's own measure: Adjusted diluted EPS, first nine months of FY2026
$3.88
Specified items before tax: amortization $1.9 billion, legal settlements about $1.1 billion and other $811 million, which includes Exact Sciences deal costs.
Official (GAAP): Gross margin after amortization, FY2025 (as stated in the FY2025 10-K)
52.6%
Company's own measure: Adjusted gross margin, FY2025 (Cityfort calculation from the Q4 FY2025 earnings release)
56.7%
Abbott's adjusted gross margin was $25.2 billion; it leaves out amortization and other specified items from cost of products sold.
These are the company's own measures, defined by the company. They are not comparable across companies, and they are not added together. Each sits beside the nearest official (GAAP) figure.
Learn: Non-GAAP measures: what a company's "adjusted" numbers leave out
19Financial strength and debt
19Financial strength · Sep 30, 2026
How much debt does Abbott have?
- Total debt$31.2B
- Cash and investments$4.3B
- Net debt (debt minus cash)$26.9B
- Net worth (shareholders' money)$51.0B
- Debt to equity
- 0.61×
- $ of debt for every $1 of shareholders' money
- Net debt is total debt of $31.2 billion minus $4.1 billion of cash and $246 million of short-term investments (Cityfort calculation from the Q3 FY2026 10-Q). It was $4.0 billion at Dec 31, 2025 (Cityfort calculation from the FY2025 10-K).
- Abbott issued $20.0 billion of notes in March 2026, due from 2029 to 2066, to fund most of the about $20.6 billion Exact Sciences deal.
- Goodwill and intangible assets were $52.2 billion, or 48.3% of total assets of $108.2 billion at Sep 30, 2026 (Cityfort calculation from the Q3 FY2026 10-Q). Abbott estimates amortization of about $3.0 billion in 2026 and $2.7 billion in 2027.
- Debt leaves out operating lease obligations of $1.4 billion at Dec 31, 2025. Abbott had $5 billion of unused credit lines then.
20Who owns it
20Who owns it · ownership as of Jan 31, 2026
Who owns Abbott?
- Officers and directors (as a group), shares
- 0.5%
Share classes
Holders of 5% or more
From the company's proxy statement (DEF 14A), later Schedule 13G filings and the share counts on its latest annual or quarterly report. Each holder row shows the date of its own filing.
Insider trades · Form 4 data as of Nov 6, 2026
What did Abbott's insiders report trading?
Abbott's insiders made 67 Form 4A filing an insider must make within two business days of buying or selling the company's shares. Learn more filings in the 12 months to Nov 6, 2026.
They reported 6 purchases (43,000 shares) and 12 sales (413,994 shares) in the open market or privately (codes P and S).
None of the sales were on forms with the Rule 10b5-1 plan box checked.
The same filings report 44 other share transactions (A: 23, F: 15, I: 3, M: 2, G: 1).
They also report 34 transactions in options, stock units or other derivatives.
Insiders are a company's officers, directors and owners of more than 10% of a class of its shares. Most changes in their holdings must be reported to the SEC on a Form 4 within two business days. Source: SEC Form 4 filings on EDGAR.
- P
- a purchase in the open market or privately
- S
- a sale in the open market or privately
- A
- a grant, award or other acquisition from the company under Rule 16b-3
- F
- shares withheld or handed over to pay an exercise price or tax when an award is received, exercised or vests
- I
- a discretionary transaction under Rule 16b-3(f), such as a move in or out of a company stock fund
- M
- exercise or conversion of an option or other derivative, exempt under Rule 16b-3
- G
- a bona fide gift
Code meanings: General Instruction 8 of Form 4 (SEC).
The latest 25 of 62 transactions
Shares: A = acquired, D = disposed of. A price the filing gives only in a footnote shows as “See filing”. The 10b5-1 box is checked when at least one trade on the form was made under a Rule 10b5-1 plan. A Form 4/A replaces the form it amends. See all of Abbott's Form 4 filings on EDGAR.
Learn: How to read a proxy statement (DEF 14A): Nvidia's 2026 proxy · Form 4 insider filings: who files, the codes and the footnotes · Rule 10b5-1 trading plans: how insiders pre-schedule their trades
21What it does with profit
21What it does with profit
What does Abbott do with its profit?
Dividend per share
$2.40FY2025
Dividend paid for each share, by financial year.
$ per share
See the numbers
Buyback · Dec 31, 2023
Paid $1.2 billion for purchases of common shares in FY2023.
$1.2B
Buyback · Dec 31, 2024
Paid $1.3 billion for purchases of common shares in FY2024. The board authorized a $7 billion program on Oct 11, 2024.
$1.3B
Buyback · Dec 31, 2025
Paid $893 million for purchases of common shares in FY2025; $6.7 billion of the authorization remained at year end.
$893M
Buyback · Sep 30, 2026
Paid $1.2 billion for purchases of common shares in the first nine months of FY2026, including about 11.6 million shares for $1.0 billion under the program; $5.6 billion remained.
$1.2B
Money raised · Mar 9, 2026
Issued $20.0 billion of senior notes in eight series, due from 2029 to 2066, mainly to pay for Exact Sciences.
$20.0B
22Governance signals
22Governance signals
What do Abbott's governance filings show?
- Auditor
- Ernst & Young LLP, since 2013
- Auditor changes
- None in the period covered
- Audit qualifications
- None reported
- Related-party dealings
- The 2026 proxy statement says the son-in-law of director Sally E. Blount worked at Abbott in 2025, with pay above the $120,000 review threshold. Abbott also advanced defense costs for directors and some officers in the infant formula derivative action. No director or executive officer owns more than 1% of Abbott's shares.
- Credit rating
- S&P Global Ratings and Moody's, as stated in Abbott's Q3 FY2026 10-Q A+ (S&P) and Aa3 (Moody's), long-term debt; S&P's rating was AA- at Dec 31, 2025 (Not stated in the filing), Sep 30, 2026
A credit rating describes the company's ability to repay debt. It is not a rating of the share.
Flags to know about
other · Nov 4, 2026
Preterm infant formula (NEC) lawsuits
Lawsuits allege that Abbott's preterm infant formula caused necrotizing enterocolitis (NEC), a bowel disease. A St. Louis jury awarded $495 million in the Gill case in July 2024. On Aug 20, 2026 Abbott agreed to resolve Gill and about 2,000 other claims for about $670 million, without admitting liability. Abbott says remaining cases could be material.
regulatory · Nov 4, 2026
US Justice Department agreement on powdered formula
In September 2026 Abbott paid about $385 million plus fees and interest under an agreement resolving a Justice Department and whistleblower matter over powdered infant formula made at Sturgis, Michigan. Abbott's 10-Q says the agreement includes no finding of fault.
regulatory · May 16, 2022
2022 formula recall and FDA consent decree
Abbott recalled powder infant formula made at Sturgis, Michigan in February 2022, stopped the plant and entered an FDA consent decree on May 16, 2022.
other · Apr 17, 2026
Shareholder derivative suit
A derivative suit over infant formula, filed in federal court in Illinois, reached a proposed settlement. A settlement hearing was scheduled for Jun 4, 2026 (8-K, Apr 17, 2026); the defendants deny wrongdoing.
other · Nov 4, 2026
Other legal accruals
Abbott estimated a range of possible loss of $430 million to $450 million for its other legal proceedings, and had accrued about $435 million at Sep 30, 2026.
other · Apr 27, 2026
Chairman and CEO are one person
Robert Ford holds both roles. A Lead Independent Director is appointed by and from the independent directors. At the Apr 24, 2026 annual meeting he received 1,281.3 million votes for and 72.6 million against.
other
What the auditor flagged
EY's critical audit matter for FY2025 was unrecognized tax benefits, about $4.0 billion at Dec 31, 2025. EY gave an unqualified opinion and found internal controls effective.
other
Insider shares
The 2026 proxy says no director or executive officer has used Abbott shares as collateral for loans.
disclosure
Two growth bases and no payer split
Abbott reported organic growth in 2025 and comparable growth in 2026, which includes Exact Sciences in both years. It gives no revenue by payer or customer type.
Sources (9)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- 2026 proxy statement (DEF 14A)
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
- 8-K filed Aug 20, 2026: agreements to resolve preterm infant formula (NEC) claims (Ex. 99.1)
- Form 10-K for fiscal 2023 (year ended Dec 31, 2023)
- 8-K filed Apr 17, 2026: notice of proposed settlement of infant formula derivative action (Ex. 99.1)
- 8-K filed Apr 27, 2026: director appointment, by-law change and 2026 annual meeting results (Items 5.02, 5.03, 5.07)
- Q4 and full-year 2025 earnings release (8-K Ex. 99.1)
- Q3 2026 earnings release (8-K Ex. 99.1)
23What the market paid
23What the market paid · price as of Nov 5, 2026
What did the market pay for Abbott on Nov 5, 2026?
Price as of Nov 5, 2026 (shown for education; prices change daily).
Price as of Nov 5, 2026: Abbott closed at $113.60, from Nasdaq's historical price table; Abbott's shares are listed on the NYSE. The market value of about $196.7 billion (Cityfort calculation from the Nov 5, 2026 closing price and the Q3 FY2026 10-Q) uses the 1,731.9 million shares on the 10-Q cover (Sep 30, 2026). P/E is price ÷ earnings per share: 30.5 on FY2025 diluted EPS of $3.72, and 42.4 on $2.68 for the four quarters to Q3 FY2026, which carry Exact Sciences amortization and interest and legal charges (Cityfort calculation from the Q4 FY2025 to Q3 FY2026 earnings releases).
- Share price
- $113.60
- Market value (market cap)
- $196.7B
- P/E
- 30.5×
More price-based ratios · as of Nov 5, 2026
Each ratio divides a number from the company's filings by the market value or share price on Nov 5, 2026. Prices change daily, so these ratios do too.
Price to sales (P/S)
4.1×
$196.7B market value ÷ $48.2B revenue (four quarters to Sep 30, 2026) = 4.1×
Cityfort calculation from the Nov 5, 2026 closing price and the Q4 FY2025 to Q3 FY2026 10-Qs and earnings releases. Source: ABT historical prices, Oct 29 to Nov 5, 2026; Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026); Form 10-K for fiscal 2025 (year ended Dec 31, 2025) and 6 more
How price ratios workDividend yield
2.11%
$2.40 dividends per share (FY2025) ÷ $113.60 share price = 2.11%
Cityfort calculation from the FY2025 10-K and the Nov 5, 2026 closing price. Source: ABT historical prices, Oct 29 to Nov 5, 2026; Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026); Form 10-K for fiscal 2025 (year ended Dec 31, 2025) and 4 more
What dividend yield meansFree cash flow yield
3.8%
$7.4B free cash flow (FY2025) ÷ $196.7B market value = 3.8%
Cityfort calculation from the FY2025 10-K and the Nov 5, 2026 closing price. Source: ABT historical prices, Oct 29 to Nov 5, 2026; Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026); Form 10-K for fiscal 2025 (year ended Dec 31, 2025) and 4 more
What free cash flow means
Shares used for the market value: 1,731.94 million ($113.60 × 1,731.94 million shares ≈ $196.7B). Source: Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026); Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
Source: ABT historical prices, Oct 29 to Nov 5, 2026; Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026); Form 10-K for fiscal 2025 (year ended Dec 31, 2025) and 4 more
Sources (9)
- ABT historical prices, Oct 29 to Nov 5, 2026
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- Q4 and full-year 2025 earnings release (8-K Ex. 99.1)
- Q1 2026 earnings release (8-K Ex. 99.1)
- Q2 2026 earnings release (8-K Ex. 99.1)
- Q3 2026 earnings release (8-K Ex. 99.1)
- Form 10-Q for Q1 2026 (quarter ended Mar 31, 2026)
- Form 10-Q for Q2 2026 (quarter ended Jun 30, 2026)
24How it got here
24How it got here
How did Abbott get here?
1900
Milestone
Incorporated in Illinois
Abbott Laboratories was incorporated in Illinois in 1900 and is based in Abbott Park, Illinois.
2022
Business-model change
COVID test sales peak
COVID-19 test sales reached about $8.4 billion in FY2022, 19.2% of sales, after about $7.7 billion in FY2021.
2022
Crisis
Infant formula recall
Abbott recalled powder infant formula made at Sturgis, Michigan in February 2022 and entered an FDA consent decree in May. Nutrition's segment operating earnings fell to $706 million.
2023
Crisis
COVID test sales fall
COVID test sales fell to about $1.6 billion, and total sales fell to $40.1 billion from $43.7 billion.
2024
Milestone
NEC verdict and a tax benefit
A St. Louis jury awarded $495 million in a preterm formula case in July 2024. In Q4 Abbott booked a $7.5 billion non-cash tax benefit.
2025
Business-model change
Exact Sciences deal agreed
On Nov 20, 2025 Abbott announced an agreement to buy Exact Sciences, maker of the Cologuard cancer screening test, for $105 a share in cash, an equity value of about $21 billion.
2026
Business-model change
Exact Sciences joins Abbott
Abbott completed the deal on Mar 23, 2026 for about $20.6 billion, funded mainly by $20.0 billion of new notes. Exact's CEO Kevin Conroy joined Abbott's board in April.
2026
Crisis
Formula cases settled
Abbott agreed on Aug 20, 2026 to resolve about 2,000 NEC claims for about $670 million, and paid about $385 million in a Justice Department matter in September.
2026
Business-model change
Nutrition spin-off plan
On Oct 21, 2026 Abbott said it intends to spin off Nutrition as a separate public company by the end of 2027.
Sources (10)
- Form 10-K for fiscal 2025 (year ended Dec 31, 2025)
- Form 10-K for fiscal 2023 (year ended Dec 31, 2023)
- Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026)
- Q4 and full-year 2024 earnings release (8-K Ex. 99.1)
- 8-K filed Aug 20, 2026: agreements to resolve preterm infant formula (NEC) claims (Ex. 99.1)
- 8-K filed Nov 20, 2025: agreement to acquire Exact Sciences (Item 1.01, Ex. 99.1 release)
- 8-K filed Mar 23, 2026: completion of Exact Sciences acquisition (Ex. 99.1)
- 8-K filed Mar 9, 2026: issuance of senior notes (Items 1.01, 2.03)
- 8-K filed Apr 27, 2026: director appointment, by-law change and 2026 annual meeting results (Items 5.02, 5.03, 5.07)
- 8-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1)
25Sources and changes
Where every number on this page comes from
Sources (25 documents)
- S1Form 10-K for fiscal 2025 (year ended Dec 31, 2025) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Feb 20, 2026
- S2Form 10-K for fiscal 2023 (year ended Dec 31, 2023) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Feb 16, 2024
- S3Form 10-Q for Q3 2026 (quarter ended Sep 30, 2026) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Nov 4, 2026
- S4Form 10-Q for Q2 2026 (quarter ended Jun 30, 2026) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Jul 28, 2026
- S5Form 10-Q for Q1 2026 (quarter ended Mar 31, 2026) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Apr 29, 2026
- S6Q4 and full-year 2024 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Jan 22, 2025
- S7Q1 2025 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Apr 16, 2025
- S8Q2 2025 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Jul 17, 2025
- S9Q3 2025 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Oct 15, 2025
- S10Q4 and full-year 2025 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Jan 22, 2026
- S11Q1 2026 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Apr 16, 2026
- S12Q2 2026 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Jul 16, 2026
- S13Q3 2026 earnings release (8-K Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2026
- S142026 proxy statement (DEF 14A) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Mar 13, 2026
- S158-K filed Nov 20, 2025: agreement to acquire Exact Sciences (Item 1.01, Ex. 99.1 release) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Nov 20, 2025
- S168-K filed Mar 23, 2026: completion of Exact Sciences acquisition (Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Mar 23, 2026
- S178-K filed Mar 9, 2026: issuance of senior notes (Items 1.01, 2.03) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Mar 9, 2026
- S188-K filed Aug 20, 2026: agreements to resolve preterm infant formula (NEC) claims (Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Aug 20, 2026
- S198-K filed Oct 21, 2026: intention to separate the Nutrition business (Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Oct 21, 2026
- S208-K filed Apr 17, 2026: notice of proposed settlement of infant formula derivative action (Ex. 99.1) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Apr 17, 2026
- S218-K filed Apr 27, 2026: director appointment, by-law change and 2026 annual meeting results (Items 5.02, 5.03, 5.07) · Abbott Laboratories (SEC EDGAR) · Tier 1: company or exchange filing · Apr 27, 2026
- S23Schedule 13G/A by The Vanguard Group (event Mar 13, 2026) · The Vanguard Group (SEC EDGAR) · Tier 1: company or exchange filing · Mar 26, 2026
- S24Schedule 13G by Vanguard Capital Management LLC (event Mar 31, 2026) · Vanguard Capital Management LLC (SEC EDGAR) · Tier 1: company or exchange filing · Apr 29, 2026
- S25XBRL company facts (financial data API), Abbott Laboratories CIK 0000001800 · SEC (data.sec.gov) · Tier 1: company or exchange filing · Nov 7, 2026
- S26ABT historical prices, Oct 29 to Nov 5, 2026 · Nasdaq · Tier 1: company or exchange filing · Nov 5, 2026
Changes to this page (v1 · Nov 6, 2026)
- v1 · Nov 6, 2026First version. (first version)
Numbers come only from tier 1 and tier 2 sources. Read how we research.
Disclaimer
For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.
Investing in securities involves risk, including loss of capital. Before making any investment decision, do your own research and consider consulting a registered investment adviser or other qualified professional.
Cityfort, its owners and contributors may or may not hold securities of companies covered. Cityfort is not paid by any company it covers. Content is not an offer or solicitation to buy or sell any security, including in any initial public offering.
Read the positions policyRead the full disclaimerHide the full disclaimer
Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.
All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.
Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.