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PFEPfizer

Health care · Pharmaceuticals · NYSE
PFE quote by TradingView
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FY2025 at a glance

Sales down 1.6%, free cash flow down to $9.1B

XBRL, from each 10-K
RevenueStatements ↓
$62.6B
from $63.6B in FY2024
FY2016FY2025
Net incomeStatements ↓
$7.8B
from $8.0B in FY2024
FY2016FY2025
Free cash flowStatements ↓
$9.1B
from $9.8B in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$1.36
from $1.41 in FY2024
FY2016FY2025
Total debtStatements ↓
$64.6B
from $63.6B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (38, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)0.70Sales (ttm)63.6BNet income (ttm)4.0BSales growth-1.6%EPS growth-3.5%Sales Q/Q-0.4%
Free cash flow11.8BGross margin73.4%Oper. margin-Net margin6.3%FCF margin18.5%ROE4.5%
ROA2.0%R&D / sales16.7%Dividend1.72Debt/Eq0.70Curr. ratio1.42Cash1.8B
Op. cash flow (ttm)14.2BNet debt60.8BQuick ratio1.08Payout ratio126.5%Tax rate-3.5%Stock pay / sales1.3%
Shares out.5.7BShares Y/Y+0.2%Book / share15.61Cash / share0.32Sales / share11.16Asset turnover0.31
Inventory turns1.51Days sales out.69Sales 3Y CAGR-14.8%Sales 5Y CAGR+8.5%EPS 3Y CAGR-37.1%EPS 5Y CAGR-3.6%
Employees75,000Sales / employee848K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth slowed to -1.6%+6.8% → -1.6% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
What management wrote about it → · Every company →

PFE against Health care peers

Ten years, side by side → · All 60 →
GrowthProfitBalanceCleanInsiders
PFEPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 60 companies, the better end on the right. Hover a dot for the company.

Sales growth
-1.6%58th of 60 · median +7.1%
Net margin
6.3%40th of 60 · median 9.6%
Return on equity
4.5%44th of 54 · median 13.1%
Free cash flow margin
18.5%22nd of 56 · median 15.5%
Debt / equity (less is better)
0.7030th of 49 · median 0.66
PFE and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
PFE Pfizer$63.6B -1.6%73.4%6.3%4.5%18.5%0.70
HCA HCA Healthcare$78.7B +7.1%-8.6%-7.6%-
MRK Merck & Co.$67.4B +1.3%71.8%3.6%5.5%21.9%1.20
ABBV AbbVie$66.0B +8.6%73.7%15.7%-28.6%-
BMY Bristol Myers Squibb$50.0B -0.2%69.2%18.5%39.5%18.6%1.86
ABT Abbott Laboratories$48.2B +5.7%56.9%9.7%9.2%14.0%0.61
Where each dollar goes

From $81.3B of sales to $22.0B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $50.5BRevenue to Cost of revenue: $30.8BGross profit to Net profit: $22.0BGross profit to Costs, tax, other: $28.5B Revenue: $81.3B Revenue$81.3B +95% Y/Y Gross profit: $50.5B · 62% margin Gross profit$50.5B62% margin Cost of revenue: $30.8B · 38% of revenue Cost of revenue$30.8B38% of revenue Net profit: $22.0B · 27% margin Net profit$22.0B27% margin +140% Y/Y Costs, tax, other: $28.5B · 35% of revenue Costs, tax, other$28.5B35% of revenue

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From $101.2B of sales to $31.4B of profit

FY2022, from the 10-K income statement and revenue by region
United States to Revenue: $43.3BDeveloped Markets to Revenue: $40.5BEmerging Markets to Revenue: $17.3BRevenue to Gross profit: $66.8BRevenue to Cost of revenue: $34.3BGross profit to Net profit: $31.4BGross profit to Costs, tax, other: $35.5B United States: $43.3B · 43% United States$43.3B43% Developed Markets: $40.5B · 40% Developed Markets$40.5B40% Emerging Markets: $17.3B · 17% Emerging Markets$17.3B17% Revenue: $101.2B Revenue$101.2B +24% Y/Y Gross profit: $66.8B · 66% margin Gross profit$66.8B66% margin Cost of revenue: $34.3B · 34% of revenue Cost of revenue$34.3B34% of revenue Net profit: $31.4B · 31% margin Net profit$31.4B31% margin +43% Y/Y Costs, tax, other: $35.5B · 35% of revenue Costs, tax, other$35.5B35% of revenue

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From $59.6B of sales to $2.1B of profit

FY2023, from the 10-K income statement and revenue by region
United States to Revenue: $28.1BDeveloped Markets to Revenue: $20.9BEmerging Markets to Revenue: $10.5BRevenue to Gross profit: $34.6BRevenue to Cost of revenue: $25.0BGross profit to Net profit: $2.1BGross profit to Costs, tax, other: $32.5B United States: $28.1B · 47% United States$28.1B47% Developed Markets: $20.9B · 35% Developed Markets$20.9B35% Emerging Markets: $10.5B · 18% Emerging Markets$10.5B18% Revenue: $59.6B Revenue$59.6B −41% Y/Y Gross profit: $34.6B · 58% margin Gross profit$34.6B58% margin Cost of revenue: $25.0B · 42% of revenue Cost of revenue$25.0B42% of revenue Net profit: $2.1B · 4% margin Net profit$2.1B4% margin −93% Y/Y Costs, tax, other: $32.5B · 55% of revenue Costs, tax, other$32.5B55% of revenue

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From $63.6B of sales to $8.0B of profit

FY2024, from the 10-K income statement and revenue by region
United States to Revenue: $38.7BDeveloped Markets to Revenue: $16.1BEmerging Markets to Revenue: $8.9BRevenue to Gross profit: $45.8BRevenue to Cost of revenue: $17.9BGross profit to Net profit: $8.0BGross profit to Costs, tax, other: $37.7B United States: $38.7B · 61% United States$38.7B61% Developed Markets: $16.1B · 25% Developed Markets$16.1B25% Emerging Markets: $8.9B · 14% Emerging Markets$8.9B14% Revenue: $63.6B Revenue$63.6B +7% Y/Y Gross profit: $45.8B · 72% margin Gross profit$45.8B72% margin Cost of revenue: $17.9B · 28% of revenue Cost of revenue$17.9B28% of revenue Net profit: $8.0B · 13% margin Net profit$8.0B13% margin +279% Y/Y Costs, tax, other: $37.7B · 59% of revenue Costs, tax, other$37.7B59% of revenue

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From $62.6B of sales to $7.8B of profit

FY2025, from the 10-K income statement and revenue by region
United States to Revenue: $37.1BDeveloped Markets to Revenue: $16.2BEmerging Markets to Revenue: $9.3BRevenue to Gross profit: $46.5BRevenue to Cost of revenue: $16.1BGross profit to Net profit: $7.8BGross profit to Costs, tax, other: $38.7B United States: $37.1B · 59% United States$37.1B59% Developed Markets: $16.2B · 26% Developed Markets$16.2B26% Emerging Markets: $9.3B · 15% Emerging Markets$9.3B15% Revenue: $62.6B Revenue$62.6B −2% Y/Y Gross profit: $46.5B · 74% margin Gross profit$46.5B74% margin Cost of revenue: $16.1B · 26% of revenue Cost of revenue$16.1B26% of revenue Net profit: $7.8B · 12% margin Net profit$7.8B12% margin −3% Y/Y Costs, tax, other: $38.7B · 62% of revenue Costs, tax, other$38.7B62% of revenue

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Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Costs, tax, other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

1 of 3
  • !
    Net margin below the peer median6.3% vs 9.6%
  • !
    Return on equity below 15%4.5%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 13.7% → 12.4%

Balance sheet

2 of 3
  • ✓
    Debt smaller than equityDebt / equity 0.70 on the latest balance sheet (peer median 0.66)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.42
  • !
    Net debt over 3 years of free cash flow$51.7B net debt, 4.4 years
Debt / equity at each year end, FY2016 to FY2025: 0.62 → 0.75
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 10 years$9.1B last year
  • !
    Share count up over 5 years+1.4%
  • ✓
    Dividend per share up over 5 years$1.53 → $1.72
  • ✓
    Cash from operations above net income$11.7B vs $7.8B
Free cash flow, FY2016 to FY2025: 14.4B → 9.1B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$- of principal due

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 62.6B Net income 7.8B
FY2016 revenue 52.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000078003-19-000015 FY2016 net income 7.2B · NetIncomeLoss, 0000078003-19-000015 52.8B FY2016 FY2017 revenue 52.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000078003-20-000014 FY2017 net income 21.3B · NetIncomeLoss, 0000078003-20-000014 52.5B FY2017 FY2018 revenue 40.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000078003-21-000038 FY2018 net income 11.2B · NetIncomeLoss, 0000078003-21-000038 40.8B FY2018 FY2019 revenue 40.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000078003-22-000027 FY2019 net income 16.0B · NetIncomeLoss, 0000078003-22-000027 40.9B FY2019 FY2020 revenue 41.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000078003-22-000027 FY2020 net income 9.2B · NetIncomeLoss, 0000078003-23-000024 41.7B FY2020 FY2021 revenue 81.3B · Revenues, 0000078003-24-000039 FY2021 net income 22.0B · NetIncomeLoss, 0000078003-24-000039 81.3B FY2021 FY2022 revenue 101.2B · Revenues, 0000078003-25-000054 FY2022 net income 31.4B · NetIncomeLoss, 0000078003-25-000054 101.2B FY2022 FY2023 revenue 59.6B · Revenues, 0000078003-26-000026 FY2023 net income 2.1B · NetIncomeLoss, 0000078003-26-000026 59.6B FY2023 FY2024 revenue 63.6B · Revenues, 0000078003-26-000026 FY2024 net income 8.0B · NetIncomeLoss, 0000078003-26-000026 63.6B FY2024 FY2025 revenue 62.6B · Revenues, 0000078003-26-000026 FY2025 net income 7.8B · NetIncomeLoss, 0000078003-26-000026 62.6B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

PFE's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue62.6B
FY2016: 52.8BFY2017: 52.5BFY2018: 40.8BFY2019: 40.9BFY2020: 41.7BFY2021: 81.3BFY2022: 101.2BFY2023: 59.6BFY2024: 63.6BFY2025: 62.6B FY2017FY2019FY2021FY2023FY2025
Net income7.8B
FY2016: 7.2BFY2017: 21.3BFY2018: 11.2BFY2019: 16.0BFY2020: 9.2BFY2021: 22.0BFY2022: 31.4BFY2023: 2.1BFY2024: 8.0BFY2025: 7.8B FY2017FY2019FY2021FY2023FY2025
Free cash flow9.1B
FY2016: 14.4BFY2017: 14.8BFY2018: 13.8BFY2019: 10.5BFY2020: 12.2BFY2021: 29.9BFY2022: 26.0BFY2023: 4.8BFY2024: 9.8BFY2025: 9.1B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)1.36
FY2016: 1.17FY2017: 3.52FY2018: 1.87FY2019: 2.82FY2020: 1.63FY2021: 3.85FY2022: 5.47FY2023: 0.37FY2024: 1.41FY2025: 1.36 FY2017FY2019FY2021FY2023FY2025
Dividend per share1.72
FY2016: 1.22FY2017: 1.30FY2018: 1.38FY2019: 1.46FY2020: 1.53FY2021: 1.57FY2022: 1.61FY2023: 1.65FY2024: 1.69FY2025: 1.72 FY2017FY2019FY2021FY2023FY2025
Diluted shares5.7B
FY2016: 6.2BFY2017: 6.1BFY2018: 6.0BFY2019: 5.7BFY2020: 5.6BFY2021: 5.7BFY2022: 5.7BFY2023: 5.7BFY2024: 5.7BFY2025: 5.7B FY2017FY2019FY2021FY2023FY2025

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Product 51.7B82.6% -4.0%
Royalty 1.6B2.6% +16.0%
Pfizer CentreOne 1.3B2.1% +16.8%
Pfizer Ignite 41.0M0.1% -50.0%

10-K 0000078003-26-000026, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
United States 37.1B59.2% -4.2%
Developed Markets 16.2B25.9% +0.8%
Emerging Markets 9.3B14.9% +4.9%

10-K 0000078003-26-000026, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue52.8B52.5B40.8B40.9B41.7B81.3B101.2B59.6B63.6B62.6B
Cost of revenue12.3B11.2B9.0B8.1B8.5B30.8B34.3B25.0B17.9B16.1B
R&D7.9B7.7B7.8B8.4B8.7B10.4B11.4B10.7B10.8B10.4B
SG&A14.8B14.8B12.6B12.7B11.6B12.7B13.7B14.8B14.7B13.8B
Interest expense1.2B1.3B1.3B1.6B1.4B1.3B1.2B2.2B3.1B2.7B
Pretax income8.4B12.3B3.6B11.3B7.0B24.3B34.7B1.1B8.0B7.5B
Income tax1.1B-9.0B-266.0M583.0M370.0M1.9B3.3B-1.1B-28.0M-266.0M
Net income7.2B21.3B11.2B16.0B9.2B22.0B31.4B2.1B8.0B7.8B
EPS (diluted)1.173.521.872.821.633.855.470.371.411.36
Diluted shares6.2B6.1B6.0B5.7B5.6B5.7B5.7B5.7B5.7B5.7B
Depreciation & amortization5.8B6.3B6.4B5.8B4.7B5.2B5.1B6.3B7.0B6.6B
Net margin13.7%40.6%27.3%39.2%22.0%27.0%31.0%3.6%12.6%12.4%
Revenue growth--0.5%-22.3%+0.2%+1.8%+95.2%+24.5%-41.1%+6.8%-1.6%
EPS growth-+201%-46.9%+50.8%-42.2%+136%+42.1%-93.2%+281%-3.5%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash2.6B1.3B1.1B1.1B1.8B1.9B416.0M2.9B1.0B1.1B
Short-term investments15.3B18.6B17.7B8.5B10.4B22.0B18.7B4.4B10.9B9.2B
Receivables8.2B8.2B8.0B6.8B7.9B11.5B11.0B11.6B11.5B11.9B
Inventory6.8B7.6B7.5B7.1B8.0B9.1B9.0B10.2B10.9B10.7B
Current assets38.9B41.1B49.9B32.8B35.1B59.7B51.3B43.3B50.4B42.9B
Property & equipment13.3B13.9B13.4B13.0B13.7B14.9B16.3B18.9B18.4B19.3B
Goodwill54.4B56.0B42.9B48.2B49.6B49.2B51.4B67.8B68.5B71.3B
Total assets171.6B171.8B159.4B167.6B154.2B181.5B197.2B226.5B213.4B208.2B
Accounts payable4.5B4.7B4.7B3.9B4.3B5.6B6.8B6.7B5.6B5.2B
Current liabilities31.1B30.4B31.9B37.3B25.9B42.7B42.1B47.8B43.0B37.0B
Total debt37.2B43.2B40.8B51.3B4.6B37.8B35.4B71.8B63.6B64.6B
Total liabilities111.8B100.1B95.7B104.1B90.8B104.0B101.3B137.2B124.9B121.4B
Shareholders' equity59.5B71.3B63.4B63.1B63.2B77.2B95.7B89.0B88.2B86.5B
Retained earnings71.8B85.3B89.6B97.7B90.4B103.4B125.7B118.4B116.7B114.6B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow16.2B16.8B15.8B12.6B14.4B32.6B29.3B8.7B12.7B11.7B
Capital spending1.8B2.0B2.0B2.0B2.2B2.7B3.2B3.9B2.9B2.6B
Free cash flow14.4B14.8B13.8B10.5B12.2B29.9B26.0B4.8B9.8B9.1B
Stock-based pay (added back)691.0M840.0M923.0M687.0M755.0M1.2B872.0M525.0M877.0M799.0M
Buybacks5.0B5.0B12.2B8.9B002.0B00-
Acquisitions18.4B1.0B010.9B0023.0B43.4B06.9B
Debt raised11.0B5.3B5.0B4.9B5.2B997.0M030.8B09.7B
Debt repaid7.7B6.2B3.6B6.8B4.0B2.0B3.3B2.6B2.2B6.8B
Investing cash flow-7.8B-4.7B4.5B-3.9B-4.3B-22.5B-15.8B-32.3B2.7B-1.4B
Financing cash flow-9.2B-13.3B-20.4B-8.5B-9.6B-9.8B-14.8B26.1B-17.1B-10.3B
Dividend per share1.221.301.381.461.531.571.611.651.691.72

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)691.0M840.0M923.0M687.0M755.0M1.2B872.0M525.0M877.0M799.0M
Stock-based pay / revenue1.3%1.6%2.3%1.7%1.8%1.5%0.9%0.9%1.4%1.3%
Operating lease cost---421.0M432.0M548.0M714.0M863.0M683.0M498.0M
Operating lease cash paid---338.0M333.0M387.0M617.0M744.0M601.0M471.0M
Right-of-use assets---1.3B1.4B2.8B3.0B2.9B2.3B2.2B
Operating lease liabilities---1.3B1.4B3.0B3.2B3.2B2.6B2.6B

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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