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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $62.6B | $16.8B | $7.8B | $9.1B | 9.0% | -1.6% | -3.2% |
| 2024 | $63.6B | $18.1B | $8.0B | $9.8B | 9.1% | 6.8% | 279.0% |
| 2023 | $59.6B | $9.6B | $2.1B | $4.8B | 2.4% | -41.1% | -93.2% |
| 2022 | $101.2B | $41.0B | $31.4B | $26.0B | 32.8% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 101,175 | 59,554 | 63,627 | 62,579 |
| Operating Revenue | - | 101,175 | 59,554 | 63,627 | 62,579 |
| Cost Of Revenue | - | 34,344 | 24,954 | 17,851 | 16,067 |
| Gross Profit | - | 66,831 | 34,600 | 45,776 | 46,512 |
| Operating Expense | - | 29,667 | 30,377 | 30,946 | 30,718 |
| Research And Development | - | 12,381 | 10,873 | 10,930 | 12,050 |
| Selling General And Administration | - | 13,677 | 14,771 | 14,730 | 13,794 |
| Total Expenses | - | 64,011 | 55,331 | 48,797 | 46,785 |
| Operating Income | - | 37,164 | 4,223 | 14,830 | 15,794 |
| EBITDA | - | 41,031 | 9,557 | 18,127 | 16,783 |
| Normalized EBITDA | - | 44,092 | 13,710 | 22,603 | 24,132 |
| EBIT | - | 35,967 | 3,267 | 11,114 | 10,191 |
| Interest Income | - | 251 | 1,624 | 545 | 603 |
| Interest Expense | - | 1,238 | 2,209 | 3,091 | 2,671 |
| Net Interest Income | - | -987 | -585 | -2,546 | -2,068 |
| Other Non Operating Income Expenses | - | 1,178 | 1,068 | 113 | 1,143 |
| Other Income Expense | - | -1,447 | -2,580 | -4,261 | -6,206 |
| Interest Income Non Operating | - | 251 | 1,624 | 545 | 603 |
| Interest Expense Non Operating | - | 1,238 | 2,209 | 3,091 | 2,671 |
| Net Non Operating Interest Income Expense | - | -987 | -585 | -2,546 | -2,068 |
| Pretax Income | - | 34,729 | 1,058 | 8,023 | 7,520 |
| Tax Provision | - | 3,328 | -1,115 | -28 | -266 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -293.86 | -872.13 | -939.96 | -1,543.29 |
| Net Income Continuous Operations | - | 31,401 | 2,172 | 8,051 | 7,787 |
| Net Income From Continuing And Discontinued Operation | - | 31,372 | 2,119 | 8,031 | 7,771 |
| Net Income From Continuing Operation Net Minority Interest | - | 31,366 | 2,134 | 8,020 | 7,746 |
| Net Income | - | 31,372 | 2,119 | 8,031 | 7,771 |
| Net Income Common Stockholders | - | 31,372 | 2,119 | 8,031 | 7,771 |
| Net Income Including Noncontrolling Interests | - | 31,407 | 2,158 | 8,062 | 7,812 |
| Normalized Income | - | 34,133.14 | 5,414.87 | 11,556.04 | 13,551.71 |
| Diluted NI Availto Com Stockholders | - | 31,372 | 2,119 | 8,031 | 7,771 |
| Basic Average Shares | - | 5,608 | 5,643 | 5,664 | 5,683 |
| Diluted Average Shares | - | 5,733 | 5,709 | 5,700 | 5,713 |
| Reconciled Depreciation | - | 5,064 | 6,290 | 7,013 | 6,592 |
| Reconciled Cost Of Revenue | - | 32,889 | 23,397 | 16,124 | 14,349 |
| Total Unusual Items | - | -3,061 | -4,153 | -4,476 | -7,349 |
| Total Unusual Items Excluding Goodwill | - | -3,061 | -4,153 | -4,476 | -7,349 |
| Minority Interests | - | -35 | -39 | -31 | -41 |
| Net Income Discontinuous Operations | - | 6 | -15 | 11 | 25 |
| Special Income Charges | - | -2,102 | -6,219 | -5,756 | -7,547 |
| Gain On Sale Of Business | - | - | 222 | 525 | - |
| Other Special Charges | - | 230 | 474 | 567 | 1,057 |
| Write Off | 53 | 52 | 227 | 432 | - |
| Impairment Of Capital Assets | - | 421 | 3,024 | 3,295 | 4,940 |
| Restructuring And Mergern Acquisition | - | 1,451 | 2,943 | 2,419 | 1,550 |
| Gain On Sale Of Security | - | -959 | 2,066 | 1,280 | 198 |
| Depreciation Amortization Depletion Income Statement | - | 3,609 | 4,733 | 5,286 | 4,874 |
| Depreciation And Amortization In Income Statement | - | 3,609 | 4,733 | 5,286 | 4,874 |
| Gain On Sale Of Ppe | 99 | 0 | - | - | - |
| Earnings From Equity Interest | - | 436 | 505 | 102 | 0 |
| Amortization | - | 3,609 | 4,733 | 5,286 | 4,874 |
| Amortization Of Intangibles Income Statement | - | 3,609 | 4,733 | 5,286 | 4,874 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Pfizer Inc.this co. | PFE | $146.4B | 18.84β discount | 1.69 | 9.0% | 12.47 |
| Thermo Fisher Scientific Inc. | TMO | $179.1B | 26.72 | 3.35 | 12.6% | 18.11 |
| Gilead Sciences, Inc. | GILD | $160.4B | 18.85 | 7.06 | 37.5% | 12.94 |
| Abbott Laboratories | ABT | $158.1B | 24.24 | 3.03 | 12.5% | 13.54 |
| Intuitive Surgical, Inc. | ISRG | $148.3B | 51.94 |
| - |
| - |
| - |
| - |
| 8.32 |
| 16.0% |
| 39.33 |
| Danaher Corporation | DHR | $132.1B | 36.55 | 2.51 | 6.9% | 21.19 |
| CVS Health Corporation | CVS | $121.0B | 68.43 | 1.61 | 2.4% | 19.52 |
| Bristol-Myers Squibb Company | BMY | $115.6B | 16.39 | 6.26 | 38.2% | 10.01 |
| Stryker Corporation | SYK | $115.5B | 35.57 | 5.15 | 14.5% | 20.16 |
| Peer Median | - | 31.15 | 4.25 | 13.5% | 18.82 | |