What is Pfizer's earnings per share (EPS)?

Pfizer (PFE) reported diluted earnings per share of $1.36 for fiscal year 2025. This represents a -3.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Pfizer Financials

PFE

FY2025 annual

Revenue $62.6B -1.6% YoY

Net Income $7.8B -3.2% YoY

EPS (Diluted) $1.36 -3.5% YoY

Free Cash Flow $9.1B -7.7% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 28, 2026 Currency USD FYE December

Pfizer (PFE) reported $62.6B in revenue for fiscal year 2025, down 1.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PFE FY2025 2026-05-05

A sharper gross margin profile has rebuilt profitability, but cash conversion still reflects a more leveraged operating setup.

Gross margin rebounded from 58.1% in FY2023 to 74.3% in FY2025. Yet free cash flow reached only $9.1B, which says the earnings recovery is real but not back to the old cash engine; a balance sheet still carrying heavy debt and acquisition assets keeps more of the improvement from flowing through.

FY2025 looks more like a margin-led repair than a sales comeback: revenue stayed close to FY2024 while gross profit margin widened to 74.3%. Because selling and research spending remained large, the rebound appears to come from a better margin mix or lower product cost, not from a broad retreat in operating commitments. That matters because the business did not need a full top-line recovery to rebuild profitability.

The company is liquid enough but not cash-rich, with $1.1B of cash against $37.0B of current liabilities. Add goodwill of $71.3B, and the business looks financed more by working capital turnover and recurring cash generation than by a large on-hand cash buffer. A current ratio above 1.0x suggests near-term obligations are coverable, but that coverage is operational rather than purely cash-backed.

Financial Health Signals

Financial Health Score 33/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Pfizer's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Not available for Pfizer, and counted as zero in the overall score.

Growth

Pfizer's revenue declined 1.6% year-over-year, from $63.6B to $62.6B. This contraction results in a growth score of 41/100.

Leverage

Pfizer has a moderate D/E ratio of 0.71. This balance of debt and equity financing earns a leverage score of 53/100.

Liquidity

Pfizer's current ratio of 1.16 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Pfizer converts 14.5% of revenue into free cash flow ($9.1B). This strong cash generation earns a score of 76/100.

Returns

Not available for Pfizer, and counted as zero in the overall score.

Piotroski F-Score Neutral

5/9

Pfizer passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.51x

For every $1 of reported earnings, Pfizer generates $1.51 in operating cash flow ($11.7B OCF vs $7.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$62.6B

YoY-1.6%

5Y CAGR+8.5%

10Y CAGR+2.5%

Pfizer generated $62.6B in revenue in fiscal year 2025. This represents a decrease of 1.6% from the prior year.

Net Income

$7.8B

YoY-3.2%

5Y CAGR-3.2%

10Y CAGR+1.1%

Pfizer reported $7.8B in net income in fiscal year 2025. This represents a decrease of 3.2% from the prior year.

EPS (Diluted)

$1.36

YoY-3.5%

5Y CAGR-3.6%

10Y CAGR+2.1%

Pfizer earned $1.36 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

$9.1B

YoY-7.7%

5Y CAGR-5.7%

10Y CAGR-3.7%

Pfizer generated $9.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 7.7% from the prior year.

Cash & Debt

$1.1B

YoY+9.5%

5Y CAGR-8.6%

10Y CAGR-10.9%

Pfizer held $1.1B in cash against $61.6B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.72

YoY+1.8%

5Y CAGR+2.4%

10Y CAGR+4.4%

Pfizer paid $1.72 per share in dividends in fiscal year 2025. This represents an increase of 1.8% from the prior year.

Shares Outstanding

5.69B

YoY+0.3%

5Y CAGR+0.4%

10Y CAGR-0.8%

Pfizer had 5.69B shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Margins & Returns

Gross Margin

74.3%

YoY+2.4pp

5Y CAGR-5.3pp

10Y CAGR-5.9pp

Pfizer's gross margin was 74.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.4 percentage points from the prior year.

Net Margin

12.4%

YoY-0.2pp

5Y CAGR-9.6pp

10Y CAGR-1.8pp

Pfizer's net profit margin was 12.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.

Return on Equity

9.0%

YoY-0.1pp

5Y CAGR-5.5pp

10Y CAGR-1.8pp

Pfizer's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

R&D Spending

$10.4B

YoY-3.6%

5Y CAGR+3.7%

10Y CAGR+3.1%

Pfizer invested $10.4B in research and development in fiscal year 2025. This represents a decrease of 3.6% from the prior year.

Capital Expenditures

$2.6B

YoY-9.6%

5Y CAGR+3.4%

10Y CAGR+6.5%

Pfizer invested $2.6B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 9.6% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

PFE Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PFE annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$63.7B	$62.6B-1.6%	$63.6B+6.8%	$59.6B-41.1%	$101.2B+24.5%	$81.3B+95.2%	$41.7B+1.8%	$40.9B+0.2%	$40.8B-22.3%	$52.5B-0.5%	$52.8B+8.1%	$48.9B-1.5%	$49.6B-3.8%	$51.6B-5.6%	$54.7B-10.4%	$61.0B
Cost of Revenue	$17.1B	$16.1B-10.0%	$17.9B-28.5%	$25.0B-27.3%	$34.3B+11.4%	$30.8B+263.3%	$8.5B+5.3%	$8.1B-10.4%	$9.0B-20.0%	$11.2B-8.9%	$12.3B+27.7%	$9.6B+0.7%	$9.6B-0.1%	$9.6B-2.4%	$9.8B-21.4%	$12.5B
Gross Profit	$46.6B	$46.5B+1.6%	$45.8B+32.3%	$34.6B-48.2%	$66.8B+32.4%	$50.5B+52.2%	$33.2B+1.0%	$32.9B+3.2%	$31.8B-22.9%	$41.3B+2.0%	$40.5B+3.3%	$39.2B-2.1%	$40.0B-4.7%	$42.0B-6.3%	$44.8B-7.6%	$48.5B
R&D Expenses	$11.1B	$10.4B-3.6%	$10.8B+1.3%	$10.7B-6.6%	$11.4B+10.3%	$10.4B+19.0%	$8.7B+3.9%	$8.4B+8.1%	$7.8B+1.0%	$7.7B-2.6%	$7.9B+2.6%	$7.7B-8.4%	$8.4B+25.7%	$6.7B-10.7%	$7.5B-13.8%	$8.7B
SG&A Expenses	$13.7B	$13.8B-6.4%	$14.7B-0.3%	$14.8B+8.0%	$13.7B+7.7%	$12.7B+9.5%	$11.6B-8.9%	$12.7B+0.9%	$12.6B-14.8%	$14.8B-0.3%	$14.8B+0.2%	$14.8B+5.1%	$14.1B-1.8%	$14.4B-5.4%	$15.2B-13.7%	$17.6B
Interest Expense	$2.7B	$2.7B-13.6%	$3.1B+39.9%	$2.2B+78.4%	$1.2B-4.1%	$1.3B-10.9%	$1.4B-7.9%	$1.6B+19.5%	$1.3B+3.6%	$1.3B+7.1%	$1.2B-1.1%	$1.2B-11.8%	$1.4B-3.8%	$1.4B-7.1%	$1.5B-9.5%	$1.7B
Income Tax	-$164.0M	-$266.0M-850.0%	-$28.0M+97.5%	-$1.1B-133.5%	$3.3B+79.7%	$1.9B+400.5%	$370.0M-36.5%	$583.0M+319.2%	-$266.0M+97.1%	-$9.0B-905.8%	$1.1B-43.6%	$2.0B-36.2%	$3.1B-27.5%	$4.3B+93.9%	$2.2B-38.7%	$3.6B
Net Income	$4.3B	$7.8B-3.2%	$8.0B+279.0%	$2.1B-93.2%	$31.4B+42.7%	$22.0B+140.0%	$9.2B-42.8%	$16.0B+43.7%	$11.2B-47.7%	$21.3B+195.3%	$7.2B+3.7%	$7.0B-23.8%	$9.1B-58.5%	$22.0B+51.0%	$14.6B+45.6%	$10.0B
EPS (Diluted)	—	$1.36-3.5%	$1.41+281.1%	$0.37-93.2%	$5.47+42.1%	$3.85+136.2%	$1.63-42.2%	$2.82+50.8%	$1.87-46.9%	$3.52+200.9%	$1.17+5.4%	$1.11-21.8%	$1.42-55.5%	$3.19+64.4%	$1.94+52.8%	$1.27

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$15.0B+4.0%	$14.5B-17.7%	$17.6B+5.4%	$16.7B+13.7%	$14.7B+6.8%	$13.7B-22.8%	$17.8B+0.3%	$17.7B
Cost of Revenue	$4.1B+15.3%	$3.5B-32.7%	$5.3B+26.4%	$4.2B+10.4%	$3.8B+32.8%	$2.8B-51.9%	$5.9B+12.3%	$5.3B
Gross Profit	$10.9B+0.4%	$10.9B-11.2%	$12.3B-1.6%	$12.5B+14.8%	$10.9B0.0%	$10.9B-8.3%	$11.9B-4.7%	$12.4B
R&D Expenses	$2.8B+12.8%	$2.5B-22.3%	$3.2B+25.9%	$2.5B+2.6%	$2.5B+12.7%	$2.2B-27.4%	$3.0B+16.8%	$2.6B
SG&A Expenses	$3.4B+15.2%	$3.0B-28.9%	$4.2B+30.6%	$3.2B-6.7%	$3.4B+12.7%	$3.0B-29.1%	$4.3B+31.8%	$3.2B
Interest Expense	$667.0M-0.1%	$668.0M-6.0%	$711.0M+9.0%	$652.0M-0.3%	$654.0M0.0%	$654.0M-11.6%	$740.0M-5.5%	$783.0M
Income Tax	-$407.0M-188.3%	$461.0M+23150.0%	-$2.0M+99.1%	-$216.0M-253.2%	$141.0M+174.6%	-$189.0M+55.1%	-$421.0M-279.9%	$234.0M
Net Income	-$248.0M-109.2%	$2.7B+263.1%	-$1.6B-146.5%	$3.5B+21.7%	$2.9B-1.9%	$3.0B+623.7%	$410.0M-90.8%	$4.5B
EPS (Diluted)	-$0.04-108.5%	$0.47	N/A	$0.62+21.6%	$0.51-1.9%	$0.52	N/A	$0.78

Not reported in any period shown, so not listed: Operating Income.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

PFE Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PFE annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$208.2B-2.5%	$213.4B-5.8%	$226.5B+14.9%	$197.2B+8.7%	$181.5B+17.7%	$154.2B-8.0%	$167.6B+5.1%	$159.4B-7.2%	$171.8B+0.1%	$171.6B+2.5%	$167.4B-0.1%	$167.6B-2.6%	$172.1B-7.4%	$185.8B-1.2%	$188.0B
Current Assets	$42.9B-14.8%	$50.4B+16.2%	$43.3B-15.5%	$51.3B-14.1%	$59.7B+70.2%	$35.1B+6.9%	$32.8B-34.3%	$49.9B+21.4%	$41.1B+5.6%	$38.9B-11.1%	$43.8B-21.2%	$55.6B-1.2%	$56.2B-13.2%	$64.8B+6.6%	$60.8B
Cash & Equivalents	$1.1B+9.5%	$1.0B-63.4%	$2.9B+585.8%	$416.0M-78.6%	$1.9B+8.8%	$1.8B+59.3%	$1.1B-1.6%	$1.1B-15.1%	$1.3B-48.3%	$2.6B-28.7%	$3.6B+8.9%	$3.3B+53.1%	$2.2B-78.3%	$10.1B+216.8%	$3.2B
Inventory	$10.7B-1.8%	$10.9B+6.5%	$10.2B+13.5%	$9.0B-0.9%	$9.1B+13.0%	$8.0B+13.5%	$7.1B-5.9%	$7.5B-0.9%	$7.6B+11.7%	$6.8B-9.7%	$7.5B+32.7%	$5.7B-8.2%	$6.2B+1.5%	$6.1B-8.1%	$6.6B
Accounts Receivable	$11.9B+3.6%	$11.5B-0.9%	$11.6B+5.6%	$11.0B-4.6%	$11.5B+45.1%	$7.9B+16.8%	$6.8B-15.6%	$8.0B-2.4%	$8.2B0.0%	$8.2B+0.6%	$8.2B-2.7%	$8.4B-10.2%	$9.4B-12.3%	$10.7B-18.2%	$13.1B
Goodwill	$71.3B+4.0%	$68.5B+1.1%	$67.8B+31.9%	$51.4B+4.4%	$49.2B-0.7%	$49.6B+2.9%	$48.2B+12.2%	$42.9B-23.3%	$56.0B+2.8%	$54.4B+12.9%	$48.2B+14.7%	$42.1B-1.1%	$42.5B-2.6%	$43.7B-2.0%	$44.6B
Total Liabilities	$121.4B-2.8%	$124.9B-9.0%	$137.2B+35.5%	$101.3B-2.6%	$104.0B+14.6%	$90.8B-12.9%	$104.1B+8.9%	$95.7B-4.5%	$100.1B-10.4%	$111.8B+9.2%	$102.4B+6.7%	$95.9B+0.5%	$95.5B-8.3%	$104.1B-1.2%	$105.4B
Current Liabilities	$37.0B-14.0%	$43.0B-10.0%	$47.8B+13.4%	$42.1B-1.2%	$42.7B+64.6%	$25.9B-30.5%	$37.3B+17.1%	$31.9B+4.7%	$30.4B-2.2%	$31.1B+5.8%	$29.4B+36.2%	$21.6B-7.6%	$23.4B-19.9%	$29.2B+1.0%	$28.9B
Long-Term Debt	$61.6B+7.4%	$57.4B-6.7%	$61.5B+87.1%	$32.9B-9.1%	$36.2B-2.5%	$37.1B+3.3%	$36.0B+9.3%	$32.9B-1.9%	$33.5B+6.8%	$31.4B+9.2%	$28.7B-8.9%	$31.5B+3.5%	$30.5B-1.8%	$31.0B-11.1%	$34.9B
Total Equity	$86.5B-2.0%	$88.2B-0.9%	$89.0B-6.9%	$95.7B+23.9%	$77.2B+22.1%	$63.2B+0.2%	$63.1B-0.4%	$63.4B-11.1%	$71.3B+19.8%	$59.5B-8.0%	$64.7B-9.2%	$71.3B-6.6%	$76.3B-6.1%	$81.3B-1.1%	$82.2B
Retained Earnings	$114.6B-1.8%	$116.7B-1.4%	$118.4B-5.8%	$125.7B+21.5%	$103.4B+14.4%	$90.4B-7.5%	$97.7B+9.1%	$89.6B+5.0%	$85.3B+18.8%	$71.8B-0.3%	$72.0B-0.3%	$72.2B+3.5%	$69.7B+28.6%	$54.2B+17.4%	$46.2B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$201.1B-3.1%	$207.6B-0.3%	$208.2B-0.3%	$208.7B+1.3%	$206.1B-0.9%	$208.0B-2.5%	$213.4B-2.8%	$219.5B
Current Assets	$41.4B-3.4%	$42.8B-0.2%	$42.9B-8.6%	$46.9B+7.4%	$43.7B-4.7%	$45.9B-8.9%	$50.4B+16.5%	$43.2B
Cash & Equivalents	$976.0M-42.7%	$1.7B+49.1%	$1.1B-15.0%	$1.3B-18.0%	$1.6B+14.5%	$1.4B+37.1%	$1.0B-4.5%	$1.1B
Inventory	$9.9B-6.8%	$10.7B+0.1%	$10.7B-7.1%	$11.5B-1.7%	$11.7B+7.5%	$10.9B0.0%	$10.9B-7.4%	$11.7B
Accounts Receivable	$12.5B-0.8%	$12.6B+6.0%	$11.9B-16.7%	$14.3B+18.1%	$12.1B+2.0%	$11.8B+3.3%	$11.5B-20.7%	$14.5B
Goodwill	$71.4B0.0%	$71.4B+0.2%	$71.3B+3.1%	$69.1B+0.2%	$69.0B+0.8%	$68.4B-0.1%	$68.5B-0.1%	$68.6B
Total Liabilities	$115.6B-1.3%	$117.2B-3.4%	$121.4B+5.0%	$115.6B-1.2%	$117.1B-0.3%	$117.4B-6.0%	$124.9B-1.6%	$126.9B
Current Liabilities	$32.6B-5.0%	$34.3B-7.1%	$37.0B+1.1%	$36.6B-3.0%	$37.7B+3.5%	$36.5B-15.2%	$43.0B-0.5%	$43.2B
Long-Term Debt	$60.5B-0.1%	$60.6B-1.7%	$61.6B+7.4%	$57.4B-0.2%	$57.5B-0.2%	$57.6B+0.4%	$57.4B-1.0%	$58.0B
Total Equity	$85.2B-5.5%	$90.1B+4.2%	$86.5B-6.8%	$92.8B+4.6%	$88.7B-1.8%	$90.3B+2.4%	$88.2B-4.4%	$92.3B
Retained Earnings	$112.1B-4.4%	$117.2B+2.3%	$114.6B-5.4%	$121.2B+3.0%	$117.6B-1.7%	$119.6B+2.5%	$116.7B-3.6%	$121.1B

PFE Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

PFE annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$13.4B	$11.7B-8.2%	$12.7B+46.5%	$8.7B-70.3%	$29.3B-10.2%	$32.6B+126.2%	$14.4B+14.4%	$12.6B-20.5%	$15.8B-5.8%	$16.8B+3.8%	$16.2B+10.2%	$14.7B-14.0%	$17.1B-3.4%	$17.7B+5.6%	$16.7B-17.3%	$20.2B
Capital Expenditures	$2.4B	$2.6B-9.6%	$2.9B-25.5%	$3.9B+20.7%	$3.2B+19.4%	$2.7B+21.8%	$2.2B+8.8%	$2.0B+3.1%	$2.0B+1.4%	$2.0B+7.3%	$1.8B+30.5%	$1.4B+16.5%	$1.2B-0.6%	$1.2B-9.1%	$1.3B-20.1%	$1.7B
Free Cash Flow	$11.0B	$9.1B-7.7%	$9.8B+105.2%	$4.8B-81.6%	$26.0B-12.8%	$29.9B+145.3%	$12.2B+15.5%	$10.5B-23.8%	$13.8B-6.8%	$14.8B+3.3%	$14.4B+8.1%	$13.3B-16.3%	$15.9B-3.6%	$16.5B+6.9%	$15.4B-17.0%	$18.6B
Investing Cash Flow	-$5.7B	-$1.4B-150.9%	$2.7B+108.2%	-$32.3B-104.5%	-$15.8B+30.0%	-$22.5B-427.9%	-$4.3B-8.3%	-$3.9B-187.2%	$4.5B+195.5%	-$4.7B+39.2%	-$7.8B-161.4%	-$3.0B+47.3%	-$5.7B+46.4%	-$10.5B-271.3%	$6.2B+233.9%	$1.8B
Financing Cash Flow	-$8.4B	-$10.3B+39.9%	-$17.1B-165.8%	$26.1B+275.7%	-$14.8B-51.1%	-$9.8B-1.7%	-$9.6B-13.7%	-$8.5B+58.5%	-$20.4B-53.1%	-$13.3B-44.7%	-$9.2B+11.3%	-$10.4B-2.2%	-$10.2B+32.0%	-$15.0B+6.4%	-$16.0B+22.4%	-$20.6B
Share Buybacks	N/A	N/A	$0	$0-100.0%	$2.0B	$0	$0-100.0%	$8.9B-27.3%	$12.2B+144.0%	$5.0B0.0%	$5.0B-18.8%	$6.2B+23.2%	$5.0B-69.3%	$16.3B+98.0%	$8.2B-8.6%	$9.0B

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$835.0M-68.1%	$2.6B-51.1%	$5.3B+16.2%	$4.6B+890.9%	-$582.0M-124.9%	$2.3B-65.3%	$6.7B+0.1%	$6.7B
Capital Expenditures	$533.0M+22.2%	$436.0M-48.4%	$845.0M+40.4%	$602.0M-2.6%	$618.0M+9.6%	$564.0M-38.5%	$917.0M+40.9%	$651.0M
Free Cash Flow	$302.0M-86.1%	$2.2B-51.6%	$4.5B+12.5%	$4.0B+433.4%	-$1.2B-167.8%	$1.8B-69.5%	$5.8B-4.3%	$6.1B
Investing Cash Flow	$2.1B+168.3%	$785.0M+112.8%	-$6.1B-152.9%	-$2.4B-161.5%	$4.0B+20.7%	$3.3B+301.7%	-$1.6B+21.1%	-$2.1B
Financing Cash Flow	-$3.7B-28.3%	-$2.9B-579.2%	$596.0M+124.1%	-$2.5B+22.5%	-$3.2B+38.9%	-$5.2B-2.2%	-$5.1B-10.3%	-$4.6B

Not reported in any period shown, so not listed: Dividends Paid.

PFE Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

PFE annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	74.3%+2.4pp	71.9%+13.8pp	58.1%-8.0pp	66.0%+4.0pp	62.1%-17.5pp	79.6%-0.7pp	80.3%+2.3pp	78.0%-0.6pp	78.6%+2.0pp	76.7%-3.6pp	80.3%-0.4pp	80.7%-0.7pp	81.4%-0.6pp	82.0%+2.5pp	79.5%
Net Margin	12.4%-0.2pp	12.6%+9.1pp	3.6%-27.4pp	31.0%+4.0pp	27.0%+5.0pp	22.0%-17.2pp	39.2%+11.9pp	27.3%-13.2pp	40.6%+26.9pp	13.7%-0.6pp	14.2%-4.2pp	18.4%-24.2pp	42.6%+16.0pp	26.7%+10.3pp	16.4%
Return on Equity	9.0%-0.1pp	9.1%+6.7pp	2.4%-30.4pp	32.8%+4.3pp	28.5%+14.0pp	14.5%-10.9pp	25.4%+7.8pp	17.6%-12.3pp	29.9%+17.8pp	12.1%+1.4pp	10.8%-2.1pp	12.8%-16.0pp	28.8%+10.9pp	17.9%+5.7pp	12.2%
Return on Assets	3.7%0.0pp	3.8%+2.8pp	0.9%-15.0pp	15.9%+3.8pp	12.1%+6.2pp	5.9%-3.6pp	9.6%+2.6pp	7.0%-5.4pp	12.4%+8.2pp	4.2%0.0pp	4.2%-1.3pp	5.5%-7.3pp	12.8%+4.9pp	7.8%+2.5pp	5.3%
Current Ratio	1.160.0x	1.17+0.3x	0.91-0.3x	1.22-0.2x	1.400.0x	1.35+0.5x	0.88-0.7x	1.57+0.2x	1.35+0.1x	1.25-0.2x	1.49-1.1x	2.58+0.2x	2.41+0.2x	2.22+0.1x	2.10
Debt-to-Equity	0.71+0.1x	0.650.0x	0.69+0.3x	0.34-0.1x	0.47-0.1x	0.590.0x	0.57+0.1x	0.520.0x	0.47-0.1x	0.53+0.1x	0.440.0x	0.440.0x	0.400.0x	0.380.0x	0.42
FCF Margin	14.5%-1.0pp	15.5%+7.4pp	8.1%-17.7pp	25.7%-11.0pp	36.7%+7.5pp	29.2%+3.5pp	25.8%-8.1pp	33.9%+5.7pp	28.2%+1.0pp	27.2%0.0pp	27.2%-4.8pp	32.0%+0.1pp	31.9%+3.7pp	28.2%-2.2pp	30.4%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	72.8%-2.7pp	75.4%+5.5pp	70.0%-5.0pp	75.0%+0.7pp	74.2%-5.0pp	79.3%+12.5pp	66.7%-3.5pp	70.3%
Net Margin	-1.7%-20.2pp	18.6%+28.0pp	-9.4%-30.6pp	21.3%+1.4pp	19.9%-1.8pp	21.6%+19.3pp	2.3%-22.9pp	25.2%
Return on Equity	-0.3%-3.3pp	3.0%+4.9pp	-1.9%-5.7pp	3.8%+0.5pp	3.3%0.0pp	3.3%+2.8pp	0.5%-4.4pp	4.8%
Return on Assets	-0.1%-1.4pp	1.3%+2.1pp	-0.8%-2.5pp	1.7%+0.3pp	1.4%0.0pp	1.4%+1.2pp	0.2%-1.8pp	2.0%
Current Ratio	1.270.0x	1.25+0.1x	1.16-0.1x	1.28+0.1x	1.16-0.1x	1.26+0.1x	1.17+0.2x	1.00
Debt-to-Equity	0.710.0x	0.670.0x	0.71+0.1x	0.620.0x	0.650.0x	0.640.0x	0.650.0x	0.63
FCF Margin	2.0%-13.1pp	15.1%-10.6pp	25.7%+1.6pp	24.0%+32.2pp	-8.2%-21.1pp	12.9%-19.8pp	32.7%-1.6pp	34.3%

Not reported in any period shown, so not listed: Operating Margin.

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Where Pfizer Ranks

Frequently Asked Questions

What is Pfizer's annual revenue?

Pfizer (PFE) reported $62.6B in total revenue for fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pfizer's revenue growing?

Pfizer (PFE) revenue declined by 1.6% year-over-year, from $63.6B to $62.6B in fiscal year 2025.

Is Pfizer profitable?

Yes, Pfizer (PFE) reported a net income of $7.8B in fiscal year 2025, with a net profit margin of 12.4%.

How much debt does Pfizer have?

As of fiscal year 2025, Pfizer (PFE) had $1.1B in cash and equivalents against $61.6B in long-term debt.

What is Pfizer's gross margin?

Pfizer (PFE) had a gross margin of 74.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Pfizer's net profit margin?

Pfizer (PFE) had a net profit margin of 12.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Pfizer pay dividends?

Yes, Pfizer (PFE) paid $1.72 per share in dividends during fiscal year 2025.

What is Pfizer's return on equity (ROE)?

Pfizer (PFE) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pfizer's free cash flow?

Pfizer (PFE) generated $9.1B in free cash flow during fiscal year 2025. This represents a -7.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pfizer's operating cash flow?

Pfizer (PFE) generated $11.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pfizer's total assets?

Pfizer (PFE) had $208.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pfizer's capital expenditures?

Pfizer (PFE) invested $2.6B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Pfizer spend on research and development?

Pfizer (PFE) invested $10.4B in research and development during fiscal year 2025.

How many shares does Pfizer have outstanding?

Pfizer (PFE) had 5.69B shares outstanding as of fiscal year 2025.

What is Pfizer's current ratio?

Pfizer (PFE) had a current ratio of 1.16 as of fiscal year 2025, which is considered adequate.

What is Pfizer's debt-to-equity ratio?

Pfizer (PFE) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pfizer's return on assets (ROA)?

Pfizer (PFE) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pfizer's Piotroski F-Score?

Pfizer (PFE) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pfizer's earnings high quality?

Pfizer (PFE) has an earnings quality ratio of 1.51x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pfizer?

Pfizer (PFE) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.