ABB Ltd income statement ABLZF
In fiscal 2023, which ended Dec 31, 2023, ABB Ltd reported revenue of $32.2 billion, up 9.5% from the year before. Net income was $3.8 billion, a profit margin of 11.9%. Operating income came to $4.9 billion, an operating margin of 15.1%. Diluted earnings per share were $2.01. Across the 10 fiscal years shown, revenue shrank from $39.8 billion in fiscal 2014 to $32.2 billion in fiscal 2023, about 2.3% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
FY 2015
Dec 31, 2015
|
FY 2014
Dec 31, 2014
|
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
32,235
+9.5%
|
29,446
+1.7%
|
28,945
+10.8%
|
26,134
-6.6%
|
27,978
+1.1%
|
27,662
+9.8%
|
25,196
+1.1%
|
24,929
-29.7%
|
35,481
-10.9%
|
39,830
-4.8%
|
| Cost of revenue |
21,021
+6.5%
|
19,736
+1.3%
|
19,478
+6.7%
|
18,256
-4.3%
|
19,072
-0.2%
|
19,118
+10.2%
|
17,350
-0.3%
|
17,396
-31.4%
|
25,347
-11.4%
|
28,615
-4.2%
|
| Gross profit |
11,214
+15.5%
|
9,710
+2.6%
|
9,467
+20.2%
|
7,878
-11.5%
|
8,906
+4.2%
|
8,544
+8.9%
|
7,846
+4.2%
|
7,533
-25.7%
|
10,134
-9.6%
|
11,215
-6.5%
|
| Research and development |
1,317
+13.0%
|
1,166
-4.3%
|
1,219
+8.2%
|
1,127
-5.9%
|
1,198
+4.4%
|
1,147
+13.2%
|
1,013
+4.8%
|
967
-31.2%
|
1,406
-6.2%
|
1,499
+2.0%
|
| Selling, general and administrative |
5,543
+8.0%
|
5,132
-0.6%
|
5,162
+5.5%
|
4,895
-10.1%
|
5,447
+2.9%
|
5,295
+11.1%
|
4,765
+5.1%
|
4,532
-18.7%
|
5,574
-8.1%
|
6,067
-0.4%
|
| Other operating income (expense) |
517
+789.3%
|
-75
-102.8%
|
2,632
+5383.3%
|
48
+114.9%
|
-323
-360.5%
|
124
-23.5%
|
162
+254.3%
|
-105
+0.0%
|
-105
-119.8%
|
529
+1390.2%
|
| Operating expenses |
6,343
-0.5%
|
6,373
+70.0%
|
3,749
|
—
|
6,968
+10.3%
|
6,318
+12.5%
|
5,616
+0.2%
|
5,604
-20.9%
|
7,085
+0.7%
|
7,037
-7.5%
|
| Operating income |
4,871
+46.0%
|
3,337
-41.6%
|
5,718
+258.9%
|
1,593
-17.8%
|
1,938
-12.9%
|
2,226
-0.2%
|
2,230
+15.6%
|
1,929
-36.7%
|
3,049
-27.0%
|
4,178
-4.8%
|
| Pretax income |
4,778
+40.8%
|
3,394
-41.4%
|
5,787
+588.1%
|
841
-54.8%
|
1,862
-12.1%
|
2,119
+0.8%
|
2,102
+19.4%
|
1,761
-38.0%
|
2,840
-27.1%
|
3,896
-4.2%
|
| Income tax |
930
+22.9%
|
757
-28.4%
|
1,057
+113.1%
|
496
-35.8%
|
772
+41.9%
|
544
-6.7%
|
583
+10.8%
|
526
-33.2%
|
788
-34.4%
|
1,202
+7.1%
|
| Net income |
3,824
+47.4%
|
2,594
-44.2%
|
4,650
-10.7%
|
5,205
+240.6%
|
1,528
-33.5%
|
2,298
-2.8%
|
2,365
+16.3%
|
2,034
-1.0%
|
2,055
-24.4%
|
2,718
-6.5%
|
| Net income to common |
3,745
+51.3%
|
2,475
-45.6%
|
4,546
-11.7%
|
5,146
+257.6%
|
1,439
-33.8%
|
2,173
-1.8%
|
2,213
+16.5%
|
1,899
-1.8%
|
1,933
-25.5%
|
2,594
-6.9%
|
| Basic EPS |
2.02
+55.4%
|
1.30
-42.7%
|
2.27
-7.0%
|
2.44
+264.2%
|
0.67
-34.3%
|
1.02
-1.9%
|
1.04
+18.2%
|
0.88
+1.1%
|
0.87
-23.0%
|
1.13
-6.6%
|
| Diluted EPS |
2.01
+54.6%
|
1.30
-42.2%
|
2.25
-7.4%
|
2.43
+262.7%
|
0.67
-34.3%
|
1.02
-1.0%
|
1.03
+17.0%
|
0.88
+1.1%
|
0.87
-23.0%
|
1.13
-6.6%
|
| Weighted average shares, basic |
1,855
-2.3%
|
1,899
-5.1%
|
2,001
-5.2%
|
2,111
-1.0%
|
2,133
+0.0%
|
2,132
-0.3%
|
2,138
-0.6%
|
2,151
-3.4%
|
2,226
-2.7%
|
2,288
-0.4%
|
| Weighted average shares, diluted |
1,867
-2.3%
|
1,910
-5.4%
|
2,019
-4.7%
|
2,119
-0.7%
|
2,135
-0.2%
|
2,139
-0.4%
|
2,148
-0.3%
|
2,154
-3.4%
|
2,230
-2.8%
|
2,295
-0.4%
|
| Other measures | ||||||||||
| Depreciation and amortization |
780
-4.2%
|
814
-8.8%
|
893
-2.4%
|
915
-4.8%
|
961
+4.9%
|
916
+9.6%
|
836
-3.9%
|
870
-25.0%
|
1,160
-11.1%
|
1,305
-1.0%
|
| EBITDA |
5,651
+36.1%
|
4,151
-37.2%
|
6,611
+163.6%
|
2,508
-13.5%
|
2,899
-7.7%
|
3,142
+2.5%
|
3,066
+9.5%
|
2,799
-33.5%
|
4,209
-23.2%
|
5,483
-3.9%
|
| Margins | ||||||||||
| Gross margin |
34.79%
|
32.98%
|
32.71%
|
30.14%
|
31.83%
|
30.89%
|
31.14%
|
30.22%
|
28.56%
|
28.16%
|
| Operating margin |
15.11%
|
11.33%
|
19.75%
|
6.10%
|
6.93%
|
8.05%
|
8.85%
|
7.74%
|
8.59%
|
10.49%
|
| Pretax margin |
14.82%
|
11.53%
|
19.99%
|
3.22%
|
6.66%
|
7.66%
|
8.34%
|
7.06%
|
8.00%
|
9.78%
|
| Profit margin |
11.86%
|
8.81%
|
16.06%
|
19.92%
|
5.46%
|
8.31%
|
9.39%
|
8.16%
|
5.79%
|
6.82%
|
| EBITDA margin |
17.53%
|
14.10%
|
22.84%
|
9.60%
|
10.36%
|
11.36%
|
12.17%
|
11.23%
|
11.86%
|
13.77%
|
| Effective tax rate |
19.46%
|
22.30%
|
18.27%
|
58.98%
|
41.46%
|
25.67%
|
27.74%
|
29.87%
|
27.75%
|
30.85%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Switchgear & Switchboard Apparatus (SIC 3613)
- Listed as
- ABBNY (OTC), ABLZF (OTC)
- Fiscal year ends
- December 31
- Headquarters
- Zurich Switzerland, Switzerland
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1091587
Other Switchgear & Switchboard Apparatus companies
- Littelfuse Inc /DE LFUS
- Powell Industries Inc POWL
Source: SEC EDGAR filings. This is company-reported data, not investment advice.