PFE
SP100NYSEPfizer Inc.
Healthcare · Drug Manufacturers - General · United States
Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States and internationally. It operates in three segments: Biopharma, PC1, and Pfizer Ignite. The company offers internal medicine products, including cardiovascular metabolic diseases products under the Eliquis brand; migraine products under the Nurtec ODT/Vydura and Zavzpret brand; vaccines under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and Paxlovid for the treatment of COVID-19. It also provides inflammation and immunology products, such as Xeljanz, Enbrel, Cibinqo, Litfulo, Eucrisa, and Velsipity; rare disease products for therapeutic areas comprising amyloidosis, hemophilia, and endocrine diseases under the Vyndaqel family, Genotropin, BeneFIX, Xyntha, Somavert, Ngenla, and Hympavzi brands; and anti-infective and immunoglobulin medicines under the Zavicefta, Octagam, and Panzyga brands. In addition, the company offers oncology products comprising ADCs, small molecules, bispecific, and other immunotherapies for the treatment of cancers, including breast cancer, genitourinary cancer, and hematologic malignancies, as well as melanoma, gastrointestinal, gynecological, and lung cancer under the Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak, and Talzenna brands. Further, it provides biosimilars under the Inflectra brand; oncology biosimilars comprising Retacrit, Ruxience, Zirabev, Trazimera and Nivestym, and other biosimilars; and sterile injectables, such as Sulperazon, Atgam, Fragmin, Solu Medrol, Solu Cortef, and Bicillin. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Merck KGaA; and BioNTech SE, as well as a strategic collaboration with Boltz, PBC to develop and deploy biomolecular AI foundation models. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York.
www.pfizer.com ↗Shares trade at a moderate 18.6× trailing earnings, easing to 8.6× on forward estimates. Profitability shows a net margin of 11.8% and return on equity of 8.3%. Leverage is elevated at 2.0× net debt/EBITDA. Revenue grew 5.4% year-on-year. It yields 7.1% in dividends. The mean analyst target of USD29.15 sits 19.9% above the current price (Buy, 27 analysts).
business model
Pfizer is a global research-based biopharmaceutical company that discovers, develops, manufactures, and markets prescription medicines and vaccines. It generates revenue from patented branded drugs across therapeutic areas, relying on its R&D pipeline, in-licensing, and acquisitions to replace revenue lost to patent expirations.
revenue segments
Revenue spans multiple therapeutic areas including oncology (bolstered by its Seagen acquisition), vaccines, internal medicine/cardiometabolic, and anti-infectives, plus its COVID-19 products (the Comirnaty vaccine and Paxlovid antiviral). Oncology and vaccines are central growth priorities as pandemic-era revenue has declined.
key dependencies
Depends on R&D productivity, successful clinical trials and regulatory approvals, patent protection, manufacturing quality, and payer and government reimbursement. It also relies on integrating large acquisitions and managing the patent cliff facing several key products later this decade.
competitors
Competes with large pharmaceutical peers such as Merck, Johnson & Johnson, AbbVie, Bristol Myers Squibb, Novartis, Roche, AstraZeneca, GSK, and Moderna (in vaccines), as well as biotech firms and generic and biosimilar manufacturers after patent expiry.
moat
Its moat derives from patent-protected products, deep R&D and regulatory expertise, global manufacturing and commercial scale, and established relationships with providers and payers. Scale supports large clinical programs and business-development capacity to acquire promising assets.
risks
Risks include declining COVID-19 product revenue, upcoming patent expirations on major drugs, clinical-trial failures and pipeline uncertainty, drug-pricing pressure and policy changes such as US Medicare negotiation, litigation, and the execution and integration risk of large debt-funded acquisitions.
Financials & metrics
as of 27 Aug 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $62.58B | $63.63B | $59.55B | $101.17B | — |
| Cost of revenue | $16.07B | $17.85B | $24.95B | $34.34B | — |
| Gross profit | $46.51B | $45.78B | $34.60B | $66.83B | — |
| Operating expense | $29.11B | $30.84B | $30.18B | $28.71B | — |
| R&D | $10.44B | $10.82B | $10.68B | $11.43B | — |
| Operating income | $17.41B | $14.94B | $4.42B | $38.12B | — |
| Interest expense | $2.67B | $3.09B | $2.21B | $1.24B | — |
| Pretax income | $7.52B | $8.02B | $1.06B | $34.73B | — |
| Tax provision | -$266.00M | -$28.00M | -$1.11B | $3.33B | — |
| Net income | $7.77B | $8.03B | $2.12B | $31.37B | — |
| EBITDA | $16.78B | $18.13B | $9.56B | $41.03B | — |
| Diluted EPS | $1.36 | $1.41 | $0.37 | $5.47 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $208.16B | $213.40B | $226.50B | $197.21B | — |
| Current assets | $42.90B | $50.36B | $43.33B | $51.26B | — |
| Cash & equivalents | $1.14B | $1.04B | $2.85B | $416.00M | — |
| Inventory | $10.65B | $10.85B | $10.19B | $8.98B | — |
| Total liabilities | $121.39B | $124.90B | $137.21B | $101.29B | — |
| Current liabilities | $36.98B | $42.99B | $47.79B | $42.14B | — |
| Total debt | $63.96B | $63.65B | $70.84B | $34.86B | — |
| Long-term debt | $60.81B | $56.70B | $60.50B | $31.93B | — |
| Shareholders' equity | $86.48B | $88.20B | $89.01B | $95.66B | — |
| Retained earnings | $114.61B | $116.72B | $118.35B | $125.66B | — |
| Working capital | $5.91B | $7.36B | -$4.46B | $9.12B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $11.70B | $12.74B | $8.70B | $29.27B | — |
| Investing cash flow | -$1.35B | $2.65B | -$32.28B | -$15.78B | — |
| Financing cash flow | -$10.30B | -$17.14B | $26.07B | -$14.83B | — |
| Capital expenditure | -$2.63B | -$2.91B | -$3.91B | -$3.24B | — |
| Free cash flow | $9.07B | $9.84B | $4.79B | $26.03B | — |
| Dividends paid | -$9.77B | -$9.51B | -$9.25B | -$8.98B | — |
| Share buybacks | — | $0.00 | $0.00 | -$2.00B | $0.00 |
| End cash position | $1.20B | $1.11B | $2.92B | $468.00M | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 27 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 26 Aug 2026News
Sector peers
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