ABT · Q2 FY2026
ABBOTT LABORATORIES Q2 FY2026 earnings analysis
By SageNoodle ResearchBearish
| Metric | Actual | Estimate | Result |
|---|---|---|---|
| Revenue | $11.164B | $11.140B (Q2 FY2025 yr ago) | Beat |
| EPS | $0.61 | $1.01 (Q2 FY2025 yr ago) | Miss |
| Free Cash Flow | $0.916B | $0.000B (Q2 FY2025 yr ago) | Beat |
| Gross Margin | 39.4% | Not disclosed (Q2 FY2025 yr ago) | Miss |
| Operating Margin | 12.0% | 18.4% (Q2 FY2025 yr ago) | Miss |
What changed
Revenue was effectively flat year over year, increasing 0.2% to $11.164B, while EPS fell 39.6% to $0.61 and operating margin contracted 6.4 percentage points to 12.0%. Free cash flow was $0.916B, although the supplied year-ago quarterly table reports zero and therefore provides a weak comparison. The filing period indicates Q2 FY2026, despite the supplied quarterly series labeling the same financial values Q1 FY2026.
Impact on the investment thesis
There was no prior SageNoodle fair value to revise; this update establishes a $111 base-case fair value. The quarter does not support a higher valuation because flat revenue was accompanied by materially weaker earnings and operating profitability.