FirmAtlas
Company handbook · PFE · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
PFE · CIK 78003 · LATEST FILING: 10-Q JUN '26 · FILED AUG 4, 2026
PFIZER INC
$29.58
+0.14 (+0.48%)
Close, Oct 16, 2026 · 52-week $24–30
Last fiscal year
PFIZER INC reported revenue of $62.6B for the year ended Dec 31, 2025 (FY25), down 1.6% from FY24. Net income was $7.8B, operating cash flow $11.7B and free cash flow $9.1B. Source: 10-K filed Feb 26, 2026.
Market cap
$169.0B
P/E
39.0
EV/EBITDA
7.9x
P/B
2.0
Div yield
5.81%
ROIC
15.2%
Revenue 1Y
−1.6%/yr
EPS 1Y
−3.5%/yr
Shares 1Y
+0.2%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOAlbert Bourla
HQNew York, NY
AuditorKPMG LLP
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
−1.0%
−6.5%
−3.8%
22.1%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$31.7B deployed
Capex
$5.5B
17.4%
Acquisitions
$6.9B
21.8%
Dividends
$19.3B
60.7%
Operating cash flow over the period: $24.4B. Total debt changed by +$1.8B. R&D of $21.3B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
63,627
62,579−1.6%
63,696
YoY
−1.6%
Gross profit
45,776
46,512+1.6%
46,612
Gross margin
71.9%
74.3%+2.4 pp
—
Operating income
20,224
22,281+10.2%
—
Operating margin
31.8%
35.6%+3.8 pp
—
EBITDA
27,237
28,873+6.0%
—
EBITDA margin
42.8%
46.1%+3.3 pp
—
Interest expense
3,091
2,671−13.6%
—
Interest coverage
8.81x
10.81x+2.00x
—
Net income
8,031
7,771−3.2%
4,333
YoY
−3.2%
Net margin
12.6%
12.4%−0.2 pp
—
EPS (diluted, $)
1.41
1.36−3.5%
0.76
YoY
−3.5%
Balance sheet
Total assets
213,396
208,160−2.5%
201,131
Cash & short-term investments
1,107
1,197+8.1%
—
Accounts receivable
11,463
11,874+3.6%
—
Inventory
10,851
10,654−1.8%
—
Net PP&E
18,393
19,317+5.0%
—
Other assets
171,582
165,118−3.8%
—
Total liabilities
125,193
121,684−2.8%
115,941
Accounts payable
5,633
5,240−7.0%
—
Total debt
59,858
61,641+3.0%
63,100
Other liabilities
59,702
54,803−8.2%
—
Shareholders’ equity
88,203
86,476−2.0%
85,190
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
12,744
11,704−8.2%
13,401
Net income
8,062
7,812−3.1%
—
Depreciation & amortization
7,013
6,592−6.0%
—
Stock-based compensation
877
799−8.9%
—
Working capital & other
(3,208)
(3,499)n/m
—
Cash from investing
2,652
(1,351)−150.9%
—
Capex
(2,909)
(2,629)n/m
—
Acquisitions
0
(6,927)n/m
—
Investments bought
(180)
(294)n/m
—
Other investing
5,741
8,499+48.0%
—
Cash from financing
(17,140)
(10,304)n/m
—
Debt raised
0
9,678n/m
—
Debt repaid
(2,250)
(6,757)n/m
—
Dividends
(9,512)
(9,771)n/m
—
Buybacks
0
—
—
Other financing
(5,378)
(3,454)n/m
—
Net change in cash
(1,810)
91n/m
—
Free cash flow (OCF − capex)
9,835
9,075−7.7%
10,985
Where the cash went
Operating cash flow
12,744
11,704−8.2%
13,401
Reinvested in the business
2,909
9,556+228.5%
—
% of operating cash flow
22.8%
81.6%
Capex
2,909
2,629−9.6%
2,416
Acquisitions
0
6,927n/m
—
R&D (memo, already in costs)
10,822
10,437−3.6%
—
Free cash flow
9,835
9,075−7.7%
10,985
YoY
−7.7%
Returned to shareholders
9,512
9,771+2.7%
—
% of free cash flow
96.7%
107.7%
Dividends
9,512
9,771+2.7%
—
Buybacks
0
—
—
Change in total debt
—
1,783
—
Cash left over
—
(5,840)
—
FCF conversion (FCF ÷ net income)
122.5%
116.8%−5.7 pp
—
Owner earnings
—
11,127
—
Owner earnings margin
—
17.8%
—
Returns & ratios
ROIC (all capital)
13.8%
15.2%+1.4 pp
—
ROIC (operating)
57.7%
62.2%+4.5 pp
—
Net debt / EBITDA
2.16x
2.09x−0.06x
—
Debt / equity
0.68x
0.71x+0.03x
—
Cash conversion cycle (days)
172
192+20 d
—
ROE
9.1%
9.0%−0.1 pp
—
ROA
3.8%
3.7%−0.0 pp
—
ROCE
11.9%
13.0%+1.1 pp
—
NOPAT
20,224
22,281+10.2%
—
Invested capital (operating)
35,074
36,605+4.4%
—
Invested capital (all)
146,954
146,920−0.0%
—
Reinvestment rate
—
6.9%
—
Debtor days
66
69+3 d
—
Inventory days
222
242+20 d
—
Days payable
115
119+4 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
16,654
17,557
14,451
15,034
vs year-ago quarter
Gross profit
12,482
12,285
10,903
10,942
Gross margin
74.9%
70.0%
75.4%
72.8%
Net income
3,541
(1,647)
2,687
(248)
vs year-ago quarter
Net margin
21.3%
−9.4%
18.6%
−1.6%
EPS (diluted, $)
0.62
−0.29
0.47
−0.04
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
208,731
208,160
207,618
201,131
Cash & equivalents
1,394
1,197
1,760
1,034
Total debt
57,409
61,641
64,426
63,100
Shareholders’ equity
92,801
86,476
90,101
85,190
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
4,603
5,348
2,615
835
Capex
602
845
436
533
Free cash flow
4,001
4,503
2,179
302
vs year-ago quarter