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Pfizer Inc.

PFE Healthcare Drug Manufacturers General

Pfizer Inc.’s revenue for fiscal 2025 (year ended December 2025) was $62.6 billion, down 1.65% from fiscal 2024. In the quarter to June 2026, revenue grew 2.60%, EPS fell 107.8%, free cash flow grew 125.2% and total debt rose 2.26%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years; insiders bought in the last twelve months.

30.50 0.55 +1.84%
Market cap
$170.7B
P/E
40.1×
Fwd P/E
18.6×
Dividend yield
7.05%
F-score
6/9
Altman Z
2.03
Beneish M
−2.52
Dividend safety
28/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Insider Decisions trades per month

Total buys 2.96
Total sells 0.13
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — 3 — —
Sell — — — — — — — 1 — 1 — —
Insider Ownership 0.16%

Capital & Financial Ratios $m

Market Cap 170,710.00
Revenue 63,696.00
Net Income 4,369.00
Free Cash Flow 10,985.00
Net Debt 51,495.00
Current Ratio 1.27
Debt/Equity 0.74
P/E ratio 40.13 (above 35: high)
Fwd P/E 18.60
P/S ratio 2.73
P/B ratio 2.03
Past 5Y EPS Growth (4.48%) (below 0%: weak)
This Y EPS Growth (8.22%) (below 0%: weak)
Next Y EPS Growth (2.00%) (below 0%: weak)
Next Y revenue growth (0.57%) (below 0%: weak)
Next 5Y EPS Growth (8.31%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 4.1×; over the ten years it ranged from 2.4× in 2023 to 7.9× in 2020.
P/E against its own 10 years 97.61%
10-year low 10-year high
P/S against its own 10 years 33.13%
10-year low 10-year high
P/B against its own 10 years 29.75%
10-year low 10-year high
EV/Sales against its own 10 years 35.40%
10-year low 10-year high
EV/FCF against its own 10 years 76.06%
10-year low 10-year high

Dividends

Payout Ratio 2.83
Annual Dividend Rate 2.15
Annual Dividend Yield 7.05%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.72
0.43
0.43
0.43
0.43
2025 1.72
0.43
0.43
0.43
0.43
2024 1.68
0.42
0.42
0.42
0.42
2023 1.64
0.41
0.41
0.41
0.41
2022 1.60
0.40
0.40
0.40
0.40
2021 1.56
0.39
0.39
0.39
0.39
2020 1.52
0.38
0.38
0.38
0.38
2019 1.44
0.36
0.36
0.36
0.36
2018 1.36
0.34
0.34
0.34
0.34
2017 1.28
0.32
0.32
0.32
0.32
2016 1.20
0.30
0.30
0.30
0.30
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 12,690 20,477 13,596 11,699
Receivables 11,566 11,463 11,874 12,490
Inventory 10,189 10,851 10,654 9,945
Other 8,889 7,567 6,775 7,224
43,333 50,358 42,898 41,358
2023 2024 2025 Q'26
Payables 6,710 5,633 5,240 4,581
ST’ Debt 10,350 6,946 3,154 2,699
Other 20,537 19,720 18,648 19,709
47,794 42,995 36,984 32,646

Compound Annual Growth %

10y 5y 3y
Sales 2.51% 8.48% (14.80%)
Cash Flow (2.25%) (4.07%) (26.33%)
Earnings 1.11% (3.23%) (37.20%)
Book Value 2.93% 6.45% (3.28%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.68 Actual 0.77

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.66 0.87 Beat by 0.21
Q4 FY25 0.57 0.66 Beat by 0.09
Q1 FY26 0.71 0.75 Beat by 0.04
Q2 FY26 0.68 0.77 Beat by 0.09
Q3 FY26 0.72 — Reports 3 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.47 (0.04) — — —
’25 0.52 0.51 0.62 (0.29) 1.36
’24 0.55 0.01 0.78 0.07 1.41
’23 0.97 0.41 (0.42) (0.60) 0.37
’22 1.37 1.73 1.51 0.87 5.47
’21 0.86 0.98 1.42 0.59 3.85
’20 0.61 0.61 0.39 0.10 1.71
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 14,451 15,034 — — —
’25 13,715 14,653 16,654 17,557 62,579
’24 14,879 13,283 17,702 17,763 63,627
’23 18,486 13,007 13,491 14,569 59,553
’22 25,661 27,742 22,638 25,134 101,175
’21 14,516 18,899 24,035 23,838 81,288
’20 10,083 9,864 10,277 11,427 41,651
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,615 835 — — —
’25 2,335 (582) 4,603 5,348 11,704
’24 1,090 (1,781) 6,714 6,721 12,744
’23 1,212 (1,208) 3,456 5,240 8,700
’22 6,541 8,170 5,974 8,582 29,267
’21 4,538 11,299 10,829 5,914 32,580
’20 3,133 3,555 2,090 5,625 14,403
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,179 302 — — —
’25 1,771 (1,200) 4,001 4,503 9,075
’24 386 (2,418) 6,063 5,804 9,835
’23 73 (2,122) 2,646 4,196 4,793
’22 5,898 7,419 5,133 7,581 26,031
’21 3,984 10,762 10,211 4,912 29,869
’20 2,684 3,098 1,583 4,273 11,638
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 26.80 30.20 32.45 33.20 27.25 33.36 41.45 25.76 24.48 20.92 (2.7%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 35.47 36.51 45.42 43.56 43.08 61.71 58.55 51.60 31.54 27.69 (2.7%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 96,500 90,200 92,400 88,300 78,500 79,000 83,000 88,000 81,000 75,000 (2.8%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.55 0.58 0.44 0.46 0.53 1.03 1.22 0.68 0.79 0.83 +4.8% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 52,824 52,546 40,825 40,905 41,651 81,288 101,175 59,553 63,627 62,579 +1.9% 62,222 59,889 55,011 (4.2%)
Gross margin, % 76.67 78.63 77.99 80.31 79.63 62.08 66.05 58.10 71.94 74.33 (2.3) pt
EBT 8,351 12,305 3,594 11,321 7,036 24,311 34,729 1,058 8,023 7,520 (1.2%)
EBT margin, % 15.81 23.42 8.80 27.68 16.89 29.91 34.33 1.78 12.61 12.02 (3.8) pt
Net income 7,246 21,355 11,188 16,056 9,195 22,025 31,407 2,158 8,062 7,812 +0.8%
Depreciation 5,757 6,269 6,150 5,755 4,681 5,191 5,064 6,290 7,013 6,592 +1.5%
Per share, $
Per share, $ Revenue 8.68 8.80 6.95 7.35 7.50 14.51 18.04 10.55 11.23 11.01 +2.7%
Earnings 1.17 3.57 1.90 2.92 1.73 3.92 5.59 0.38 1.42 1.37 +1.8%
Cash flow 2.66 2.81 2.70 2.26 2.59 5.82 5.22 1.54 2.25 2.06 (2.8%)
Capex (0.33) (0.37) (0.36) (0.44) (0.50) (0.48) (0.58) (0.69) (0.51) (0.46) +3.9%
Free cash flow 2.33 2.44 2.33 1.82 2.10 5.33 4.64 0.85 1.74 1.60 (4.1%)
Book value 9.83 12.00 10.86 11.39 11.43 13.83 17.10 15.82 15.62 15.27 +5.0%
Shares, m 6,089 5,970 5,872 5,569 5,555 5,601 5,608 5,643 5,664 5,683 (0.8%)
Valuation, ×
Valuation, × P/E 27.57 9.98 22.70 13.16 21.40 15.14 9.20 82.58 18.70 18.31 23.9
P/S 3.72 4.05 6.14 5.21 4.91 4.07 2.84 2.82 2.36 2.26 3.8
P/B 3.28 2.97 3.93 3.36 3.22 4.27 3.00 1.88 1.70 1.63 2.9
EV/Sales 4.18 4.49 6.70 6.25 5.57 4.16 2.97 3.81 3.05 3.08 4.4
EV/FCF 15.60 16.28 19.97 25.27 20.40 11.63 11.91 56.83 21.49 23.28 22.3
Cash, $m
Cash, $m Operating cash flow 16,192 16,802 15,827 12,588 14,403 32,580 29,267 8,700 12,744 11,704 (3.5%)
Capex (1,999) (2,217) (2,136) (2,464) (2,765) (2,711) (3,236) (3,907) (2,909) (2,629) +3.1%
Free cash flow 14,193 14,585 13,691 10,124 11,638 29,869 26,031 4,793 9,835 9,075 (4.8%)
Balance, $m
Balance, $m Working capital 7,834 10,714 18,068 (4,501) 9,147 17,022 9,121 (4,461) 7,363 5,914 (3.1%)
Total debt 42,086 43,491 41,740 52,150 39,836 38,436 35,829 71,888 64,351 64,795 +4.9%
Net debt 24,236 23,499 22,907 42,504 27,613 7,367 13,097 59,198 43,874 51,199 +8.7%
Shareholders’ equity 59,840 71,656 63,758 63,447 63,473 77,462 95,916 89,288 88,497 86,775 +4.2%
Returns, %
Returns, % ROA 4.26 12.41 6.73 9.80 5.69 13.09 16.57 1.00 3.65 3.69 (0.6) pt
ROIC 9.03 9.01 4.09 3.96 5.66 14.32 20.52 0.54 5.86 6.45 (2.6) pt
ROE 11.56 32.42 16.48 25.20 14.43 31.19 36.19 2.29 9.03 8.87 (2.7) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Biopharma 61,199 97.79%
Other, not broken out 1,380 2.21%
Gross margin 74.33%
Operating margin 22.76%
Pre-tax margin 12.02%

Revenue by segment since 2009

Pfizer Inc. vs peers in Drug Manufacturers General (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
NVS Novartis AG $294.9B 24.1× 21.8× +0.78% (above 0%: growing) −17.39% (below 0%: shrinking) −15.53% (below 0%: shrinking) 75.19% 31.77% Compare
AZN AstraZeneca PLC $270.5B 27.6× 22.4× +6.41% (above 0%: growing) +1.90% (above 0%: growing) −107.45% (below 0%: shrinking) 83.60% 20.57% Compare
AMGN Amgen Inc. $249.1B 28.7× 27.9× +9.53% (above 0%: growing) +65.41% (above 0%: growing) +82.57% (above 0%: growing) 72.04% 34.95% Compare
GILD Gilead Sciences, Inc. $205.4B — (loss-making) — (loss-making) +10.18% (above 0%: growing) n/m +376.81% (above 0%: growing) 79.76% (133.21%) Compare
PFE Pfizer Inc. $170.7B 40.1× 18.6× +2.60% (above 0%: growing) n/m +125.17% (above 0%: growing) 72.78% 20.38%
NVO Novo Nordisk A/S $131.0B 9.8× — +4.47% (above 0%: growing) −18.68% (below 0%: shrinking) +71.57% (above 0%: growing) 78.21% 34.48% Compare
BMY Bristol Myers Squibb Company $125.4B 13.8× 11.6× +5.74% (above 0%: growing) +153.13% (above 0%: growing) −13.16% (below 0%: shrinking) 71.28% 31.50% Compare
SNY Sanofi $102.8B 23.3× — +17.35% (above 0%: growing) −90.76% (below 0%: shrinking) −45.06% (below 0%: shrinking) 75.47% 17.48% Compare
GSK GSK PLC Sponsored ADR $97.6B 15.4× 14.3× +5.81% (above 0%: growing) −69.47% (below 0%: shrinking) +54.83% (above 0%: growing) 73.05% 5.72% Compare
Median of peers $168.2B 23.3× 21.8× +6.11% −17.39% +20.84% 75.33% 26.03%

All 21 Drug Manufacturers General stocks →

Business profile

Updated

Pfizer is a research-based global biopharmaceutical company that discovers, develops, manufactures, markets, sells and distributes medicines and vaccines worldwide. It was founded in 1849, is headquartered in New York City, and its chief executive is Albert Bourla.

Its Biopharma business is its reportable segment. The company organizes the portfolio around Primary Care, Specialty Care, Oncology, and Hospital and Biosimilars. Primary Care includes cardiovascular and metabolic medicines, migraine treatments, vaccines and COVID-19 treatment. Specialty Care includes inflammation and immunology, rare-disease, anti-infective and immunoglobulin medicines. Oncology includes antibody-drug conjugates, small molecules, bispecifics and other immunotherapies for several cancer types. Hospital and Biosimilars sells off-patent branded and generic sterile injectables, oncology biosimilars and biosimilars for chronic immune and inflammatory diseases.

From the latest earnings call

Updated

  • Cécile Guégan said Pfizer raised its 2026 revenue outlook on non-COVID product performance while retaining its adjusted diluted EPS range after an InnoVent-related charge.
  • Albert Bourla said Pfizer expects its cost realignment and manufacturing programs to deliver total net savings of approximately $9.7 billion through 2029.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Scotiabank Oct 10, 2026 Target raised Outperform 30.00 → 33.00
Cantor Fitzgerald Oct 10, 2026 Target raised Hold 27.00 → 28.00
BofA Oct 10, 2026 Target raised Hold 27.00 → 29.00
JPMorgan Oct 10, 2026 Target raised Hold 28.00 → 30.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 66.78%
Held by the ten largest 34.47%
Holder Shares Stake Change
Vanguard 552.48m 9.69% +6.53m
BlackRock 529.67m 9.29% +31.41m
State Street 307.09m 5.39% +5.50m
Geode Capital Management 135.28m 2.37% +1.71m
Fisher Investments 109.07m 1.91% +4.10m
Morgan Stanley 96.35m 1.69% +3.66m
Norges Bank 61.51m 1.08% +61.51m
Northern Trust 59.08m 1.04% −2.94m
BNY 57.88m 1.02% +4.00m
MFS Investment Management 56.55m 0.99% −360.82k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 12 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 27.59m 33.71m 86.00
2024 24.65m 38.52m 86.00
2023 21.56m (62.15m) 88.00
2022 33.02m 5.66m 149.00
2021 24.35m 115.18m 167.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Pfizer Inc. (PFE) Latest News

30 Oct

Impact 4 ·
Impact 3 ·

29 Oct

Impact 4 ·
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Impact 3 ·
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28 Oct

Impact 4 ·
Impact 3 ·
Impact 3 · earnings
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27 Oct

Impact 4 ·
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Impact 3 ·
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26 Oct

Impact 4 ·
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Impact 3 ·
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24 Oct

Impact 4 ·
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23 Oct

Impact 4 ·

22 Oct

Impact 4 ·
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21 Oct

Impact 3 ·

PFE metrics, ten years each

stockrow.com/PFE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com