NYSE : PFE
Pfizer Inc. — Financial statements
Healthcare · Drug Manufacturers - General · United States
Last price 30.52 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 173.95B
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Financial statements
Pfizer Inc. (PFE) reported revenue of 63.70B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 63.70B | 62.58B | 63.63B | 59.55B | 101.17B | 81.29B |
| Cost of Revenue | 16.11B | 15.14B | 17.19B | 23.99B | 34.10B | 30.69B |
| Gross Profit | 47.59B | 47.44B | 46.44B | 35.56B | 67.08B | 50.60B |
| Selling, General & Admin | 12.91B | 12.96B | 14.77B | 13.84B | 12.20B | 9.56B |
| Research & Development | 11.01B | 10.44B | 10.82B | 10.68B | 11.43B | 10.36B |
| Amortization of Goodwill & Intangibles | 4.82B | 4.87B | 5.29B | 4.73B | 3.61B | 3.70B |
| Operating Expenses | 28.75B | 28.27B | 30.88B | 29.25B | 27.23B | 23.62B |
| Operating Income | 18.84B | 19.16B | 15.56B | 6.32B | 39.84B | 26.98B |
| Interest Expense | -2.70B | -2.67B | -3.09B | -2.21B | -1.24B | -1.29B |
| Interest & Investment Income | 866.00M | 868.00M | 817.00M | 1.89B | 565.00M | 202.00M |
| Earnings From Equity Investments | 102.00M | 505.00M | 436.00M | 471.00M | ||
| Other Non Operating Income (Expenses) | 2.11B | 1.55B | -173.00M | -577.00M | 621.00M | 1.90B |
| EBT Excluding Unusual Items | 19.12B | 18.91B | 13.21B | 5.92B | 40.23B | 28.27B |
| Merger & Restructuring Charges | -3.27B | -2.63B | -4.04B | -4.00B | -2.23B | -1.45B |
| Gain (Loss) on Sale of Investments | 1.99B | -134.00M | 2.84B | 3.18B | -1.27B | 1.34B |
| Gain (Loss) on Sale of Assets | -420.00M | |||||
| Asset Writedown | -8.95B | -4.94B | -3.29B | -3.02B | -421.00M | -86.00M |
| Legal Settlements | -1.53B | -1.06B | -567.00M | -474.00M | -230.00M | -182.00M |
| Other Unusual Items | -1.39B | -1.02B | 399.00M | -354.00M | -394.00M | -111.00M |
| Pretax Income | 4.21B | 7.52B | 8.02B | 1.06B | 34.73B | 24.31B |
| Income Tax Expense | -164.00M | -266.00M | -28.00M | -1.11B | 3.33B | 1.85B |
| Earnings From Continuing Operations | 4.38B | 7.79B | 8.05B | 2.17B | 31.40B | 22.46B |
| Earnings From Discontinued Operations | -5.00M | 25.00M | 11.00M | -15.00M | 6.00M | -434.00M |
| Net Income to Company | 4.37B | 7.81B | 8.06B | 2.16B | 31.41B | 22.02B |
| Minority Interest in Earnings | -36.00M | -41.00M | -31.00M | -39.00M | -35.00M | -45.00M |
| Net Income | 4.33B | 7.77B | 8.03B | 2.12B | 31.37B | 21.98B |
| Net Income to Common | 4.33B | 7.77B | 8.03B | 2.12B | 31.37B | 21.98B |
| Shares Outstanding (Basic) | 5.69B | 5.68B | 5.66B | 5.64B | 5.61B | 5.60B |
| Shares Outstanding (Diluted) | 5.73B | 5.71B | 5.70B | 5.71B | 5.73B | 5.71B |
| EPS (Basic) | 0.76 | 1.37 | 1.42 | 0.38 | 5.59 | 3.92 |
| EPS (Diluted) | 0.76 | 1.36 | 1.41 | 0.37 | 5.47 | 3.85 |
| Free Cash Flow | 10.98B | 9.07B | 9.84B | 4.79B | 26.03B | 29.87B |
| Free Cash Flow Per Share | 1.92 | 1.59 | 1.73 | 0.84 | 4.54 | 5.23 |
| Dividend Per Share | 1.72 | 1.72 | 1.68 | 1.64 | 1.60 | 1.56 |
| Gross Margin | 74.72% | 75.81% | 72.98% | 59.72% | 66.30% | 62.25% |
| Operating Margin | 29.58% | 30.62% | 24.45% | 10.61% | 39.38% | 33.19% |
| Profit Margin | 6.80% | 12.42% | 12.62% | 3.56% | 31.01% | 27.04% |
| Free Cash Flow Margin | 17.25% | 14.50% | 15.46% | 8.05% | 25.73% | 36.74% |
| EBITDA | 25.38B | 25.72B | 22.55B | 12.57B | 44.87B | 32.08B |
| EBITDA Margin | 39.85% | 41.10% | 35.44% | 21.12% | 44.35% | 39.47% |
| D&A For EBITDA | 6.54B | 6.55B | 6.99B | 6.26B | 5.03B | 5.10B |
| EBIT | 18.84B | 19.16B | 15.56B | 6.32B | 39.84B | 26.98B |
| EBIT Margin | 29.58% | 30.62% | 24.45% | 10.61% | 39.38% | 33.19% |
| Effective Tax Rate | 9.58% | 7.62% | ||||
| Revenue as Reported | 63.70B | 62.58B | 63.63B | 59.55B | 101.17B | 81.29B |
| Advertising Expenses | 2.70B | 3.30B | 3.70B | 2.80B | 2.00B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 976.00M | 1.14B | 1.04B | 2.85B | 416.00M | 1.94B |
| Short-Term Investments | 10.72B | 12.45B | 19.43B | 9.84B | 22.32B | 29.12B |
| Trading Asset Securities | 5.00M | 4.00M | ||||
| Cash & Short-Term Investments | 11.70B | 13.60B | 20.48B | 12.69B | 22.73B | 31.07B |
| Accounts Receivable | 12.49B | 11.87B | 11.46B | 11.57B | 10.95B | 11.48B |
| Other Receivables | 3.70B | 3.97B | 3.31B | 3.98B | 3.58B | 4.27B |
| Receivables | 16.19B | 15.84B | 14.78B | 15.54B | 14.53B | 15.74B |
| Inventory | 9.95B | 10.65B | 10.85B | 10.19B | 8.98B | 9.06B |
| Other Current Assets | 3.52B | 2.81B | 4.25B | 4.91B | 5.02B | 3.82B |
| Total Current Assets | 41.36B | 42.90B | 50.36B | 43.33B | 51.26B | 59.69B |
| Property, Plant & Equipment | 19.03B | 21.53B | 20.68B | 21.86B | 19.28B | 17.72B |
| Long-Term Investments | 1.46B | 1.53B | 2.11B | 15.38B | 14.93B | 21.35B |
| Goodwill | 71.42B | 71.26B | 68.53B | 67.78B | 51.38B | 49.21B |
| Other Intangible Assets | 47.05B | 53.73B | 55.41B | 64.90B | 43.37B | 25.15B |
| Long-Term Deferred Tax Assets | 10.77B | 7.40B | 6.60B | 1.80B | 4.80B | 1.60B |
| Other Long-Term Assets | 10.04B | 9.81B | 9.71B | 11.44B | 12.20B | 6.76B |
| Total Assets | 201.13B | 208.16B | 213.40B | 226.50B | 197.21B | 181.48B |
| Accounts Payable | 4.58B | 5.24B | 5.63B | 6.71B | 6.81B | 5.58B |
| Accrued Expenses | 12.61B | 12.27B | 12.01B | 9.22B | 8.32B | 7.67B |
| Short-Term Debt | 94.00M | 157.00M | 3.20B | 8.10B | 385.00M | 605.00M |
| Current Portion of Long-Term Debt | 2.61B | 3.01B | 3.78B | 2.27B | 2.57B | 1.64B |
| Current Portion of Leases | 330.00M | 356.00M | 527.00M | 620.00M | 449.00M | |
| Current Income Taxes Payable | 653.00M | 3.10B | 2.91B | 2.35B | 1.59B | 1.27B |
| Current Unearned Revenue | 784.00M | 1.51B | 2.70B | 2.52B | 3.07B | |
| Other Current Liabilities | 12.09B | 12.09B | 13.61B | 15.92B | 19.33B | 22.40B |
| Total Current Liabilities | 32.65B | 36.98B | 42.99B | 47.79B | 42.14B | 42.67B |
| Long-Term Debt | 60.77B | 61.86B | 57.80B | 61.81B | 33.20B | 36.20B |
| Long-Term Leases | 2.29B | 2.29B | 2.63B | 2.60B | 2.51B | |
| Pension & Post-Retirement Benefits | 1.94B | 2.04B | 2.12B | 2.17B | 2.25B | 3.72B |
| Long-Term Deferred Tax Liabilities | 1.96B | 2.40B | 2.12B | 640.00M | 1.02B | 349.00M |
| Other Long-Term Liabilities | 18.32B | 15.81B | 17.58B | 22.17B | 20.07B | 18.56B |
| Total Liabilities | 115.64B | 121.39B | 124.90B | 137.21B | 101.29B | 104.01B |
| Common Stock | 482.00M | 481.00M | 480.00M | 478.00M | 476.00M | 473.00M |
| Additional Paid-In Capital | 95.03B | 94.47B | 93.60B | 92.63B | 91.80B | 90.59B |
| Retained Earnings | 112.09B | 114.61B | 116.72B | 118.35B | 125.66B | 103.39B |
| Treasury Stock | -115.19B | -115.02B | -114.76B | -114.49B | -113.97B | -111.36B |
| Comprehensive Income & Other | -7.22B | -8.07B | -7.84B | -7.96B | -8.30B | -5.90B |
| Total Common Equity | 85.19B | 86.48B | 88.20B | 89.01B | 95.66B | 77.20B |
| Minority Interest | 302.00M | 299.00M | 294.00M | 274.00M | 256.00M | 262.00M |
| Shareholders' Equity | 85.49B | 86.78B | 88.50B | 89.29B | 95.92B | 77.46B |
| Total Liabilities & Equity | 201.13B | 208.16B | 213.40B | 226.50B | 197.21B | 181.48B |
| Total Debt | 63.48B | 67.65B | 67.42B | 75.33B | 39.38B | 41.40B |
| Net Cash (Debt) | -51.78B | -54.05B | -46.94B | -62.64B | -16.64B | -10.32B |
| Net Cash Per Share | -9.04 | -9.46 | -8.24 | -10.97 | -2.90 | -1.81 |
| Filing Date Shares Outstanding | 5.70B | 5.69B | 5.67B | 5.65B | 5.62B | 5.62B |
| Total Common Shares Outstanding | 5.70B | 5.69B | 5.67B | 5.65B | 5.62B | 5.62B |
| Working Capital | 8.71B | 5.91B | 7.36B | -4.46B | 9.12B | 17.02B |
| Book Value Per Share | 14.95 | 15.21 | 15.56 | 15.77 | 17.03 | 13.74 |
| Tangible Book Value | -33.28B | -38.52B | -35.73B | -43.67B | 916.00M | 2.85B |
| Tangible Book Value Per Share | -5.84 | -6.77 | -6.31 | -7.73 | 0.16 | 0.51 |
| Land | 299.00M | 291.00M | 353.00M | 368.00M | 423.00M | |
| Buildings | 9.74B | 9.04B | 9.05B | 8.83B | 9.00B | |
| Machinery | 21.86B | 20.61B | 19.66B | 17.37B | 16.71B | |
| Construction In Progress | 4.80B | 4.94B | 5.92B | 4.88B | 3.82B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.33B | 7.77B | 8.03B | 2.12B | 31.37B | 21.98B |
| Depreciation & Amortization | 6.54B | 6.55B | 6.99B | 6.26B | 5.03B | 5.10B |
| Asset Writedown & Restructuring Costs | 9.24B | 5.31B | 4.26B | 3.44B | 586.00M | 363.00M |
| Loss (Gain) From Sale of Investments | -1.87B | |||||
| Stock-Based Compensation | 947.00M | 799.00M | 877.00M | 525.00M | 872.00M | 1.18B |
| Other Operating Activities | -3.74B | -3.35B | -4.34B | -1.49B | -2.95B | -8.94B |
| Change in Accounts Receivable | -263.00M | -263.00M | -109.00M | 347.00M | 261.00M | -3.81B |
| Change in Inventory | 561.00M | 561.00M | -854.00M | -1.17B | -591.00M | -1.12B |
| Change in Accounts Payable | -469.00M | -469.00M | -1.02B | -300.00M | 1.19B | 1.24B |
| Change in Other Net Operating Assets | -1.82B | -5.18B | -1.08B | -1.05B | -6.50B | 16.50B |
| Operating Cash Flow | 13.40B | 11.70B | 12.74B | 8.70B | 29.27B | 32.58B |
| Capital Expenditures | -2.42B | -2.63B | -2.91B | -3.91B | -3.24B | -2.71B |
| Cash Acquisitions | -6.93B | -6.93B | -43.43B | -23.00B | ||
| Investment in Securities | 3.76B | 8.04B | 5.56B | 15.24B | 10.64B | -19.52B |
| Other Investing Activities | -104.00M | 165.00M | -180.00M | -192.00M | -318.00M | |
| Investing Cash Flow | -5.68B | -1.35B | 2.65B | -32.28B | -15.78B | -22.55B |
| Short-Term Debt Issued | 8.91B | 7.69B | 3.89B | |||
| Long-Term Debt Issued | 9.68B | 30.83B | 997.00M | |||
| Total Debt Issued | 5.99B | 9.68B | 8.91B | 38.52B | 3.89B | 997.00M |
| Short-Term Debt Repaid | -3.00B | -13.82B | -3.00M | -4.11B | -96.00M | |
| Long-Term Debt Repaid | -6.76B | -2.25B | -2.57B | -3.30B | -2.00B | |
| Total Debt Repaid | -4.21B | -9.75B | -16.07B | -2.57B | -7.41B | -2.10B |
| Net Debt Issued (Repaid) | 1.78B | -74.00M | -7.16B | 35.95B | -3.52B | -1.10B |
| Repurchase of Common Stock | -2.00B | |||||
| Common Dividends Paid | -9.79B | -9.77B | -9.51B | -9.25B | -8.98B | -8.73B |
| Dividends Paid | -9.79B | -9.77B | -9.51B | -9.25B | -8.98B | -8.73B |
| Other Financing Activities | -393.00M | -459.00M | -469.00M | -632.00M | -335.00M | 16.00M |
| Financing Cash Flow | -8.40B | -10.30B | -17.14B | 26.07B | -14.83B | -9.82B |
| Foreign Exchange Rate Adjustments | 22.00M | 41.00M | -66.00M | -40.00M | -165.00M | -59.00M |
| Miscellaneous Cash Flow Adjustments | 2.00M | 1.00M | ||||
| Net Cash Flow | -660.00M | 90.00M | -1.81B | 2.45B | -1.51B | 159.00M |
| Free Cash Flow | 10.98B | 9.07B | 9.84B | 4.79B | 26.03B | 29.87B |
| Free Cash Flow Margin | 17.25% | 14.50% | 15.46% | 8.05% | 25.73% | 36.74% |
| Free Cash Flow Per Share | 1.92 | 1.59 | 1.73 | 0.84 | 4.54 | 5.23 |
| Levered Free Cash Flow | 12.49B | 13.43B | 12.28B | 1.67B | 25.49B | 30.94B |
| Unlevered Free Cash Flow | 14.17B | 15.10B | 14.21B | 3.05B | 26.26B | 31.75B |
| Cash Interest Paid | 2.80B | 2.74B | 3.23B | 2.21B | 1.44B | 1.47B |
| Cash Income Tax Paid | 4.73B | 4.69B | 3.60B | 3.15B | 7.87B | 7.43B |
| Change in Working Capital | -1.99B | -5.35B | -3.07B | -2.17B | -5.64B | 12.80B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 175.98B | 141.57B | 150.35B | 162.56B | 287.63B | 331.44B |
| Enterprise Value | 227.75B | 188.82B | 208.61B | 182.78B | 288.75B | 341.89B |
| Last Close Price | 30.52 | 23.68 | 23.53 | 24.06 | 40.96 | 45.72 |
| PE Ratio | 40.63 | 18.22 | 18.72 | 76.72 | 9.17 | 15.08 |
| Forward PE | 11.17 | 8.54 | 9.91 | 19.25 | 10.82 | 10.64 |
| PS Ratio | 2.72 | 2.26 | 2.36 | 2.73 | 2.84 | 4.08 |
| PB Ratio | 2.04 | 1.63 | 1.70 | 1.82 | 3.00 | 4.28 |
| P/TBV Ratio | 314.00 | 116.42 | ||||
| P/FCF Ratio | 15.76 | 15.60 | 15.29 | 33.92 | 11.05 | 11.10 |
| P/OCF Ratio | 12.92 | 12.10 | 11.80 | 18.68 | 9.83 | 10.17 |
| PEG Ratio | 29.47 | 1.27 | 1.32 | 5.15 | 1.00 | |
| EV/Sales Ratio | 3.53 | 3.02 | 3.28 | 3.07 | 2.85 | 4.21 |
| EV/EBITDA Ratio | 8.86 | 7.34 | 9.25 | 14.54 | 6.43 | 10.66 |
| EV/EBIT Ratio | 11.93 | 9.85 | 13.41 | 28.93 | 7.25 | 12.67 |
| EV/FCF Ratio | 20.47 | 20.81 | 21.21 | 38.13 | 11.09 | 11.45 |
| Debt / Equity Ratio | 0.74 | 0.78 | 0.76 | 0.84 | 0.41 | 0.53 |
| Debt / EBITDA Ratio | 2.41 | 2.54 | 2.84 | 5.44 | 0.85 | 1.26 |
| Debt / FCF Ratio | 5.78 | 7.45 | 6.86 | 15.72 | 1.51 | 1.39 |
| Net Debt / Equity Ratio | 0.61 | 0.62 | 0.53 | 0.70 | 0.17 | 0.13 |
| Net Debt / EBITDA Ratio | 2.04 | 2.10 | 2.08 | 4.98 | 0.37 | 0.32 |
| Net Debt / FCF Ratio | 4.71 | 5.96 | 4.77 | 13.07 | 0.64 | 0.35 |
| Asset Turnover | 0.31 | 0.30 | 0.29 | 0.28 | 0.53 | 0.48 |
| Inventory Turnover | 1.49 | 1.41 | 1.63 | 2.50 | 3.78 | 3.59 |
| Quick Ratio | 0.85 | 0.80 | 0.82 | 0.59 | 0.88 | 1.10 |
| Current Ratio | 1.27 | 1.16 | 1.17 | 0.91 | 1.22 | 1.40 |
| Return on Equity (ROE) | 5.01% | 8.89% | 9.06% | 2.35% | 36.22% | 31.87% |
| Return on Assets (ROA) | 5.78% | 5.68% | 4.42% | 1.86% | 13.15% | 10.05% |
| Return on Invested Capital (ROIC) | 13.49% | 13.87% | 10.83% | 4.78% | 35.96% | 27.65% |
| Return on Capital Employed (ROCE) | 11.20% | 11.20% | 9.10% | 3.50% | 25.70% | 19.40% |
| Earnings Yield | 2.46% | 5.49% | 5.34% | 1.30% | 10.91% | 6.63% |
| FCF Yield | 6.35% | 6.41% | 6.54% | 2.95% | 9.05% | 9.01% |
| Dividend Yield | 5.57% | 6.91% | 6.33% | 5.70% | 3.12% | 2.65% |
| Payout Ratio | 226.35% | 125.74% | 118.44% | 436.39% | 28.63% | 39.72% |
| Buyback Yield / Dilution | -0.34% | -0.23% | 0.16% | 0.42% | -0.44% | -1.35% |
| Total Shareholder Return | 5.32% | 6.68% | 6.49% | 6.12% | 2.69% | 1.30% |