financial statements

The full income statement, balance sheet, and cash-flow statement for Pfizer Inc. (PFE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	62.6B YoY-1.6%	63.6B YoY+25.0%	50.9B YoY-44.5%	91.8B YoY+24.7%	73.6B YoY+76.8%
Cost of revenue	16.1B YoY-10.0%	17.9B YoY-28.5%	25.0B YoY-27.3%	34.3B YoY+11.4%	30.8B YoY+263.3%
Research & development	10.4B YoY-3.6%	10.8B YoY+1.3%	10.7B YoY-6.6%	11.4B YoY+10.3%	10.4B YoY+19.0%
Selling, general & administrative	13.8B YoY-6.4%	14.7B YoY-0.3%	14.8B YoY+8.0%	13.7B YoY+7.7%	12.7B YoY+9.5%
Restructuring	1.09B YoY-45.0%	1.99B YoY+1.0%	1.97B YoY+123.1%	882M YoY+19.0%	741M YoY+38.5%
Amortization of intangibles	—	5.30B YoY+12.8%	4.70B YoY+30.6%	3.60B YoY-2.7%	3.70B YoY+8.8%
Interest expense	2.67B YoY-13.6%	3.09B YoY+39.9%	2.21B YoY+78.4%	1.24B YoY-4.1%	1.29B YoY-10.9%
Interest & investment income	603M YoY+10.6%	545M YoY-66.4%	1.62B YoY+547.0%	251M YoY+597.2%	36.0M YoY-50.7%
Other non-operating income	-6.72B YoY-53.2%	-4.39B YoY-1876.6%	-222M YoY+79.1%	-1.06B YoY-121.8%	4.88B YoY+502.1%
Pre-tax income	7.52B YoY-6.3%	8.02B YoY+658.3%	1.06B YoY-97.0%	34.7B YoY+42.9%	24.3B YoY+245.5%
Income tax	-266M YoY-850.0%	-28.0M YoY+97.5%	-1.11B YoY-133.5%	3.33B YoY+79.7%	1.85B YoY+400.5%
	7.77B YoY-3.2%	8.03B YoY+279.0%	2.12B YoY-93.2%	31.4B YoY+42.7%	22.0B YoY+140.0%
Income from continuing operations	—	—	—	—	22.4B YoY+238.1%
Discontinued operations	25.0M YoY+127.3%	11.0M YoY+173.3%	-15.0M YoY-350.0%	6.00M YoY+101.4%	-434M YoY-117.2%
Net income to non-controlling interest	41.0M YoY+32.3%	31.0M YoY-20.5%	39.0M YoY+11.4%	35.0M YoY-22.2%	45.0M YoY+25.0%
Net income to common	7.77B YoY-3.2%	8.03B YoY+279.0%	2.12B YoY-93.2%	31.4B YoY+42.7%	22.0B YoY+140.0%
	$1.36 YoY-3.5%	$1.41 YoY+281.1%	$0.37 YoY-93.2%	$5.47 YoY+42.1%	$3.85 YoY+136.2%
EPS (basic)	$1.37 YoY-3.5%	$1.42 YoY+273.7%	$0.38 YoY-93.2%	$5.59 YoY+42.6%	$3.92 YoY+137.6%
Weighted-avg shares (basic)	5.68B YoY+0.3%	5.66B YoY+0.4%	5.64B YoY+0.6%	5.61B YoY+0.1%	5.60B YoY+0.8%
Weighted-avg shares (diluted)	5.71B YoY+0.2%	5.70B YoY-0.2%	5.71B YoY-0.4%	5.73B YoY+0.4%	5.71B YoY+1.3%
Dividends per share	$1.72 YoY+1.8%	$1.69 YoY+2.4%	$1.65 YoY+2.5%	$1.61 YoY+2.5%	$1.57 YoY+2.6%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	42.9B YoY-14.8%	50.4B YoY+16.2%	43.3B YoY-15.5%	51.3B YoY-14.1%	59.7B YoY+70.2%
Cash & equivalents	1.14B YoY+9.5%	1.04B YoY-63.4%	2.85B YoY+585.8%	416M YoY-78.6%	1.94B YoY+8.8%
Short-term investments	27.7B YoY+0.0%	27.7B YoY+0.0%	27.7B YoY+0.0%	27.7B YoY+0.0%	27.7B YoY+165.7%
Accounts receivable	11.9B YoY+3.6%	11.5B YoY-0.9%	11.6B YoY+5.6%	11.0B YoY-4.6%	11.5B YoY+45.1%
Inventory	10.7B YoY-1.8%	10.9B YoY+6.5%	10.2B YoY+13.5%	8.98B YoY-0.9%	9.06B YoY+13.0%
Other current assets	2.81B YoY-34.0%	4.25B YoY-13.4%	4.91B YoY-2.1%	5.02B YoY+31.3%	3.82B YoY+4.8%
	208B YoY-2.5%	213B YoY-5.8%	227B YoY+14.9%	197B YoY+8.7%	181B YoY+17.7%
Property, plant & equipment	19.3B YoY+5.0%	18.4B YoY-2.9%	18.9B YoY+16.4%	16.3B YoY+9.4%	14.9B YoY+8.3%
Operating lease right-of-use	2.21B YoY-3.3%	2.29B YoY-21.7%	2.92B YoY-2.6%	3.00B YoY+5.7%	2.84B YoY+104.8%
Goodwill	71.3B YoY+4.0%	68.5B YoY+1.1%	67.8B YoY+31.9%	51.4B YoY+4.4%	49.2B YoY-0.7%
Intangible assets	53.7B YoY-3.0%	55.4B YoY-14.6%	64.9B YoY+49.6%	43.4B YoY+72.5%	25.1B YoY-11.3%
Long-term investments	2.12B YoY-4.8%	2.23B YoY-85.5%	15.4B YoY+2.0%	15.1B YoY-30.0%	21.5B YoY+6.2%
Other non-current assets	9.63B YoY-1.9%	9.82B YoY-21.3%	12.5B YoY-5.3%	13.2B YoY+71.4%	7.68B YoY+57.4%
	37.0B YoY-14.0%	43.0B YoY-10.0%	47.8B YoY+13.4%	42.1B YoY-1.2%	42.7B YoY+64.6%
Accounts payable	5.24B YoY-7.0%	5.63B YoY-16.1%	6.71B YoY-1.5%	6.81B YoY+22.1%	5.58B YoY+30.2%
Deferred revenue	784M YoY-48.1%	1.51B YoY-44.0%	2.70B YoY+7.1%	2.52B YoY-17.8%	3.07B YoY+175.6%
Short-term & current debt	3.00B YoY-20.0%	3.75B YoY+66.2%	2.25B YoY-12.0%	2.56B YoY+56.5%	1.64B YoY-18.3%
Current lease liability	330M YoY-7.3%	356M YoY-32.4%	527M YoY-15.0%	620M YoY+38.1%	449M YoY+40.3%
Other current liabilities	19.4B YoY-1.5%	19.7B YoY-4.0%	20.5B YoY-9.0%	22.6B YoY-9.5%	24.9B YoY+115.7%
	121B YoY-2.8%	125B YoY-9.0%	137B YoY+35.5%	101B YoY-2.6%	104B YoY+14.6%
Long-term debt	61.6B YoY+7.4%	57.4B YoY-6.7%	61.5B YoY+87.1%	32.9B YoY-9.1%	36.2B YoY-2.5%
Non-current lease liability	2.29B YoY+0.2%	2.29B YoY-12.9%	2.63B YoY+1.1%	2.60B YoY+3.5%	2.51B YoY+126.5%
Deferred tax liabilities	2.40B YoY+13.1%	2.12B YoY+231.6%	640M YoY-37.4%	1.02B YoY+193.1%	349M YoY-91.4%
Other non-current liabilities	14.7B YoY+4.1%	14.2B YoY-14.4%	16.5B YoY+25.5%	13.2B YoY+35.3%	9.74B YoY+46.1%
	86.5B YoY-2.0%	88.2B YoY-0.9%	89.0B YoY-6.9%	95.7B YoY+23.9%	77.2B YoY+22.1%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	481M YoY+0.2%	480M YoY+0.4%	478M YoY+0.4%	476M YoY+0.6%	473M YoY+0.6%
Additional paid-in capital	94.5B YoY+0.9%	93.6B YoY+1.0%	92.6B YoY+0.9%	91.8B YoY+1.3%	90.6B YoY+2.2%
Retained earnings	115B YoY-1.8%	117B YoY-1.4%	118B YoY-5.8%	126B YoY+21.5%	103B YoY+14.4%
Treasury stock	115B YoY+0.2%	115B YoY+0.2%	114B YoY+0.5%	114B YoY+2.3%	111B YoY+0.3%
Accumulated other comprehensive income	-8.07B YoY-2.9%	-7.84B YoY+1.5%	-7.96B YoY+4.1%	-8.30B YoY-40.8%	-5.90B YoY-11.1%
Non-controlling interest	299M YoY+1.7%	294M YoY+7.3%	274M YoY+7.0%	256M YoY-2.3%	262M YoY+11.5%
Total equity incl. non-controlling	86.8B YoY-1.9%	88.5B YoY-0.9%	89.3B YoY-6.9%	95.9B YoY+23.8%	77.5B YoY+22.0%
Total liabilities & equity	208B YoY-2.5%	213B YoY-5.8%	227B YoY+14.9%	197B YoY+8.7%	181B YoY+17.7%
Common shares issued	9.62B YoY+0.3%	9.59B YoY+0.3%	9.56B YoY+0.5%	9.52B YoY+0.5%	9.47B YoY+0.7%
Shares outstanding (cover)	5.69B YoY+0.3%	5.67B YoY+0.4%	5.65B YoY+0.6%	5.61B YoY+0.0%	5.61B YoY+1.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	11.7B YoY-8.2%	12.7B YoY+46.5%	8.70B YoY-70.3%	29.3B YoY-10.2%	32.6B YoY+126.2%
Depreciation & amortization	6.59B YoY-6.0%	7.01B YoY+11.5%	6.29B YoY+24.2%	5.06B YoY-2.4%	5.19B YoY+10.9%
Share-based compensation	799M YoY-8.9%	877M YoY+67.0%	525M YoY-39.8%	872M YoY-26.2%	1.18B YoY+56.6%
Deferred income taxes	-2.13B YoY-1.5%	-2.10B YoY+38.9%	-3.44B YoY+8.6%	-3.76B YoY+12.3%	-4.29B YoY-172.6%
Change in receivables	263M YoY+141.3%	109M YoY+131.4%	-347M YoY-33.0%	-261M YoY-106.8%	3.81B YoY+198.9%
Change in inventory	-561M YoY-165.7%	854M YoY-26.9%	1.17B YoY+97.8%	591M YoY-47.5%	1.13B YoY+44.6%
	-1.35B YoY-150.9%	2.65B YoY+108.2%	-32.3B YoY-104.5%	-15.8B YoY+30.0%	-22.5B YoY-427.9%
Capital expenditure	2.63B YoY-9.6%	2.91B YoY-25.5%	3.91B YoY+20.7%	3.24B YoY+19.4%	2.71B YoY+21.8%
Acquisitions	6.93B	0.00 YoY-100.0%	43.4B YoY+88.9%	23.0B	0.00
Other investing activities	-165M YoY-8150.0%	-2.00M YoY-101.1%	179M YoY-6.8%	192M YoY-37.0%	305M YoY+15.1%
	-10.3B YoY+39.9%	-17.1B YoY-165.8%	26.1B YoY+275.7%	-14.8B YoY-51.1%	-9.82B YoY-1.7%
Long-term debt issued	9.68B	0.00 YoY-100.0%	30.8B	0.00 YoY-100.0%	997M YoY-80.9%
Long-term debt repaid	6.76B YoY+200.3%	2.25B YoY-12.4%	2.57B YoY-22.1%	3.30B YoY+64.6%	2.00B YoY-49.9%
Common stock repurchased	—	0.00	0.00 YoY-100.0%	2.00B	0.00
Other financing activities	-458M YoY+2.3%	-469M YoY+25.7%	-631M YoY-88.4%	-335M YoY-2193.8%	16.0M YoY+103.6%
FX effect on cash	41.0M YoY+162.1%	-66.0M YoY-65.0%	-40.0M YoY+75.8%	-165M YoY-179.7%	-59.0M YoY-637.5%
Net change in cash	91.0M YoY+105.0%	-1.81B YoY-173.9%	2.45B YoY+261.6%	-1.51B YoY-1052.8%	159M YoY-66.5%
Interest paid	2.74B YoY-15.1%	3.23B YoY+45.7%	2.21B YoY+53.6%	1.44B YoY-1.7%	1.47B YoY-10.6%
Income taxes paid	4.69B YoY+30.0%	3.60B YoY+14.6%	3.15B YoY-60.0%	7.87B YoY+5.9%	7.43B YoY+135.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	142B YoY-5.8%	150B YoY-7.5%	163B YoY-43.5%	288B YoY-13.2%	331B YoY+62.0%
P/E	18.2× YoY-2.7%	18.7× YoY+20.7%	15.5× YoY+60.5%	9.7× YoY-35.9%	15.1× YoY-32.5%
P/S	2.3× YoY-4.3%	2.4× YoY-11.7%	2.7× YoY-14.2%	3.1× YoY-30.7%	4.5× YoY-8.4%
P/B	1.6× YoY-4.0%	1.7× YoY+1.6%	1.7× YoY-46.0%	3.1× YoY-27.7%	4.3× YoY+32.7%
P/FCF	15.6× YoY+2.1%	15.3× YoY-23.1%	19.9× YoY+61.5%	12.3× YoY+10.9%	11.1× YoY-34.0%
Earnings yield	5.5% YoY+2.8%	5.3% YoY-17.2%	6.4% YoY-37.7%	10.4% YoY+56.1%	6.6% YoY+48.1%
FCF yield	6.4% YoY-2.0%	6.5% YoY+30.0%	5.0% YoY-38.1%	8.1% YoY-9.9%	9.0% YoY+51.4%
Dividend yield	6.9% YoY+8.4%	6.4% YoY+11.1%	5.7% YoY+82.4%	3.1% YoY+18.2%	2.7% YoY-36.0%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: PFE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all PFE filings on SEC EDGAR → Not investment advice.

PFE▼ financial statements

About this data

financial statements