ABB Ltd
ConvictionContext
Diversified industrial: short-cycle products (electrification, drives) plus long-cycle systems and services, sold through distributors, OEMs and direct project channels; recurring service and software layered on an installed base.
Revenue
$33.2B FY2025$8.7B Q1 2026Rev growth
+9% reported FY2025+7% comparable/local-currency); Q1 2026 +18% reported / +11% comparableGross margin
~39%Q1 2026 gross margin 39.4%, down ~290bps YoY on mix/tariff pressureOp margin
Operational EBITA 19% FY2025record); income-from-operations (EBIT) margin 18.2%. Q1 2026 operational EBITA 23.5% but ~250bps of the improvement came from a one-off real estate gainCapex intensity
Lowroughly ~2-3% of revenue (asset-light relative to heavy industrialsMarket cap
~$197B USD~157.9B CHF; SIX: ABBN ~CHF 87.1/share, Jul 6, 2026; US ADR ABBNY OTC). Up ~81% over the trailing year on the data-center/electrification re-rating.The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for ABB Ltd
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (FY2025 annual report + Q1 2026 results, Jan/Apr 2026); prices as of early July 2026 (Jul 6)· sign in (free) for the analyst summary; Pro unlocks full intelligence