Compare · ABBV and LLY
AbbVie vs. Eli Lilly
Revenue, growth, margins, cash flow and cash returned, side by side from each company's latest annual report.
Both run a single pharmaceutical business. AbbVie's medicines span immunology (Skyrizi, Rinvoq, Humira), oncology, aesthetics such as Botox Cosmetic, neuroscience and eye care; Lilly's include Mounjaro and Zepbound for diabetes and obesity, plus cancer, immunology and neuroscience drugs. Below are the figures each one reported in its latest annual report (Form 10-K), side by side, with links to the filing behind every number. Both fiscal years end in December, so the periods line up. Why fiscal years differ.
Comparing AbbVie fiscal 2025 (ended Dec 31, 2025) with Eli Lilly fiscal 2025 (ended Dec 31, 2025)
AbbVieEli Lilly
Each pair of bars shows both companies on one scale.
Revenue and growth
| Company | Prior year | Latest year | Change |
|---|---|---|---|
| AbbVie (FY2024 to FY2025) | $56.3B | $61.2B | +8.6% |
| Eli Lilly (FY2024 to FY2025) | $45.0B | $65.2B | +44.7% |
AbbVie reports net revenues: sales of medicines and aesthetics products, net of rebates, chargebacks and returns. Eli Lilly reports revenue: net product sales plus collaboration and other revenue.
Margins
| Company | Revenue | Net income | Net margin |
|---|---|---|---|
| AbbVie FY2025 | $61.2B | $4.2B | 6.9% |
| Eli Lilly FY2025 | $65.2B | $20.6B | 31.7% |
Operating income is shown only when both companies report it as a line in their income statement.
Margin is the profit line divided by revenue, worked out by Ticker Sage from the linked figures. What profit margins measure.
Cash flow and cash returned
| Company | Cash from operations | Buybacks | Dividends paid |
|---|---|---|---|
| AbbVie FY2025 | $19.0B | $980M | $11.7B |
| Eli Lilly FY2025 | $16.8B | $4.1B | $5.4B |
Free cash flow needs a capital spending line for both companies, and one of them doesn't tag it in a form Ticker Sage reads, so the page leaves it out. A dash means the figure isn't in the filing data. How buybacks work · How dividends work.
How each one makes money
AbbVie
AbbVie runs one business, pharmaceutical products, and groups its medicines into immunology (Skyrizi, Rinvoq, Humira), oncology (Imbruvica, Venclexta and newer drugs), aesthetics (Botox Cosmetic, Juvederm), neuroscience (Botox Therapeutic, Vraylar and migraine drugs) and eye care.
Most US sales go through three large wholesalers. Its fiscal year is the calendar year.
Eli Lilly
Lilly runs a single business: human pharmaceutical products. It groups its medicines into therapeutic areas. Cardiometabolic health includes Mounjaro and Trulicity for type 2 diabetes, Zepbound for obesity, and Jardiance, sold with Boehringer Ingelheim. Oncology is led by Verzenio for breast cancer, immunology by Taltz, and neuroscience includes Alzheimer's treatments.
It sells mostly to wholesalers, which distribute to pharmacies and hospitals. Its fiscal year is the calendar year.
Main risks each one lists
AbbVie
- When patents expire, cheaper copies can take sales quickly, as happened with Humira.
- Government price rules, cost-containment and pharmacy benefit managers can lower prices.
- Drug development is uncertain, and it relies on collaborations and acquisitions for new products.
- Biologics are complex to make, and some materials come from a single source.
- Rival medicines and new treatments compete in each of its areas.
Eli Lilly
- Research is long, costly and uncertain; many candidates fail in trials or don't get approved.
- A large share of revenue comes from a handful of medicines, and their supply chains are concentrated.
- Government price controls, Medicare negotiation, rebates and payer pushback can lower prices.
- Rivals, compounded copies and generics or biosimilars after patents expire can take sales.
- Safety issues with a product, or problems at its plants or suppliers, could halt sales or supply.
How they differ
- Size. Eli Lilly reported $65.2B of revenue for fiscal 2025, and AbbVie $61.2B for fiscal 2025.
- Growth. AbbVie's revenue grew 8.6% in its latest year and Eli Lilly's 44.7%.
- Margins. Eli Lilly kept 31.7% of revenue as net income and AbbVie 6.9%.
- Aesthetics. AbbVie has an aesthetics business, with Botox Cosmetic and Juvederm.
- Partners and buyers. Lilly sells Jardiance with Boehringer Ingelheim. Most of AbbVie's US sales go through three large wholesalers.
- Where the money goes. In the latest year Eli Lilly spent $4.1B on buybacks and $5.4B on dividends, and AbbVie $980M and $11.7B.
Differences in size, growth or margin describe the past year only. None of this says which business will do better.
Sources
- AbbVie Form 10-K for fiscal 2025, filed Feb 20, 2026
- Eli Lilly Form 10-K for fiscal 2025, filed Feb 12, 2026
AbbVie company file → · Eli Lilly company file →
Common questions
Which is bigger by revenue, Eli Lilly or AbbVie?
Eli Lilly reported $65.2B of revenue for fiscal 2025 and AbbVie $61.2B for fiscal 2025.
Is Botox an AbbVie product?
Yes. AbbVie sells Botox Cosmetic in its aesthetics group and Botox Therapeutic in neuroscience.
How do their profit margins compare?
In the latest fiscal year Eli Lilly's net margin was 31.7% and AbbVie's was 6.9%, worked out from the net income and revenue in each 10-K.
Where do these numbers come from?
From each company's latest Form 10-K filed with the SEC. Every figure on this page links to the filing it came from.
Disclosures
- Editor holdings
- The editor holds no position in any company named on this page. As of Oct 25, 2026.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- Each company's own SEC filings, linked next to each number.
- Last updated
- Oct 26, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold any security, and it doesn't consider your situation.
More in Learn · Methodology & Disclosures explains where every number comes from.