PFIZER INC (PFE) - Stock Research

Revenue by Segment

Segment	2020	2021	2022	2023	2024	% of Total
Product	$284M	$590M	$91.79B	$50.91B	$53.82B	97%
Royalty	—	—	$845M	$1.06B	$1.42B	3%
Paxlovid, NDA-Labeled, U.S. Strategic National Stockpile	—	—	—	—	$442M	1%
All other Oncology	$137M	$238M	$357M	$433M	—	—
Pfizer CentreOne	$926M	$1.73B	$1.33B	$1.26B	—	—

	1-Yr	4-Yr
Sales	7.4%	10.8%
Cash Flow	47.3%	-3.3%
Earnings	281.1%	-3.6%
Dividends	N/A	N/A
Book Value	-0.4%	8.3%

	1-Yr	4-Yr
ROIC	5.5%	14.3%
Gross Margin	71.9%	63.7%
FCF Yield	7.1%	8.1%
Buyback Yield	N/A	0.8%

	Q1	Q2	Q3	Q4
2021	—	0.86	0.98	2.01
2022	—	1.37	1.73	2.37
2023	—	0.97	0.41	-1.01
2024	0.55	0.00	0.79	0.07
2025	0.52	0.51	0.62	—

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Financial data for PFE from SEC EDGAR
Metric	2010	2011	2012	2013	2017	2018	2019	2020	2021	2022
Earnings Power
Revenue	67.1B	65.3B	54.7B	51.6B	52.5B	53.6B	41.2B	41.7B	81.3B	91.8B	59.6B	63.6B	62.8B
Net Income	8.3B	10.0B	14.6B	22.0B	21.3B	11.2B	16.3B	9.2B	22.0B	31.4B	2.1B	8.0B	9.8B
Owner Earnings	2.6B	10.9B	8.6B	10.8B	9.7B	8.5B	6.1B	9.0B	26.2B	23.3B	1.9B	4.9B	5.2B
Non-Recurring	3.2B	2.9B	1.8B	1.2B	351M	1.0B	601M	579M	802M	1.4B	2.9B	2.4B	2.4B
Gross Margin	76.4%	78.4%	82.0%	81.4%	78.6%	79.0%	80.0%	79.6%	62.1%	62.6%	58.1%	71.9%	0.0%
Op. Margin	-6.5%	-3.8%	-7.4%	54.4%	-2.7%	-3.9%	-8.0%	-2.9%	6.0%	39.4%	-0.4%	-6.9%	-7.3%
Net Margin	12.3%	15.3%	26.7%	42.7%	40.6%	20.8%	39.5%	22.0%	27.0%	34.2%	3.6%	12.6%	15.7%
Returns on Capital
ROE	9.4%	12.2%	17.9%	27.9%	29.9%	17.6%	25.8%	14.5%	28.5%	32.8%	2.4%	9.1%	10.6%
ROA	4.2%	5.3%	7.8%	12.3%	12.4%	7.0%	9.7%	5.9%	12.1%	15.9%	0.9%	3.7%	4.7%
ROIC	6.5%	8.5%	13.0%	29.5%	20.3%	11.6%	16.4%	9.1%	19.4%	30.9%	1.4%	5.5%	-3.6%
Cash Flow
Free Cash Flow	9.9B	18.6B	15.4B	16.6B	14.8B	13.8B	10.5B	12.2B	29.9B	26.0B	4.8B	9.8B	10.4B
CapEx	1.5B	1.7B	1.3B	1.2B	2.0B	2.0B	2.1B	2.2B	2.7B	3.2B	3.9B	2.9B	2.7B
Maint. CapEx	8.5B	8.9B	7.7B	6.4B	6.3B	6.4B	5.8B	4.7B	5.2B	5.1B	6.3B	7.0B	7.0B
Growth CapEx	0	0	0	0	0	0	0	0	0	0	0	0	0
CapEx/OCF	13.2%	8.2%	7.9%	6.8%	11.6%	12.9%	16.5%	15.5%	8.3%	11.1%	44.9%	22.8%	20.7%
D&A	8.5B	8.9B	7.7B	6.4B	6.3B	6.4B	5.8B	4.7B	5.2B	5.1B	6.3B	7.0B	7.0B
Capital Allocation
Op. Cash Flow	11.5B	20.2B	16.7B	17.8B	16.8B	15.8B	12.6B	14.4B	32.6B	29.3B	8.7B	12.7B	13.1B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0
Share Buybacks	1.0B	9.0B	8.2B	16.3B	5.0B	12.2B	8.9B	0	0	2.0B	0	0	0
Buyback Yield	1.3%	9.5%	7.6%	12.9%	3.3%	6.7%	5.7%	N/A	N/A	0.8%	N/A	N/A	0.0%
Debt Repayment	0	7.0B	1.5B	4.1B	6.2B	3.6B	6.8B	4.0B	2.0B	3.3B	2.6B	2.3B	2.3B
Stock-Based Comp	405M	419M	481M	523M	840M	949M	688M	755M	1.2B	872M	525M	877M	877M
Balance Sheet
Total Assets	195.0B	188.0B	185.8B	172.1B	171.8B	159.4B	167.6B	154.2B	181.5B	197.2B	226.5B	213.4B	208.7B
Intangibles	101.5B	95.8B	88.8B	81.9B	104.7B	88.6B	82.1B	77.9B	74.4B	94.7B	132.7B	123.9B	123.9B
Total Liabilities	106.7B	105.4B	104.1B	95.5B	100.1B	95.7B	104.1B	90.8B	104.0B	101.3B	137.2B	124.9B	115.6B
Equity	87.8B	82.2B	81.3B	76.3B	71.3B	63.4B	63.1B	63.2B	77.2B	95.7B	89.0B	88.2B	92.8B
Net Debt	10.4B	8.5B	1.1B	114M	13.5B	14.1B	26.3B	24.9B	5.1B	10.2B	48.8B	36.9B	42.4B
Long-Term Debt	38.4B	34.9B	31.0B	30.5B	33.5B	32.9B	36.0B	37.1B	36.2B	32.9B	61.5B	57.4B	N/A
Debt/Equity	0.44	0.43	0.41	0.43	0.47	0.52	0.57	0.59	0.47	0.34	0.69	0.65	0.62
Interest Coverage	-2.0	-1.2	-2.1	16.2	-0.9	-1.6	-2.1	-0.7	3.3	25.1	-0.1	-1.4	-1.4
Working Capital	32.4B	31.9B	35.6B	32.9B	10.7B	18.1B	-4.5B	9.1B	17.0B	9.1B	-4.5B	7.4B	7.4B
Current Assets	61.0B	60.8B	64.8B	56.2B	41.1B	49.9B	32.8B	35.1B	59.7B	51.3B	43.3B	50.4B	50.4B
Current Liabilities	28.6B	28.9B	29.2B	23.4B	30.4B	31.9B	37.3B	25.9B	42.7B	42.1B	47.8B	43.0B	43.0B
Retained Earnings	42.7B	46.2B	54.2B	69.7B	85.3B	89.6B	97.7B	90.4B	103.4B	125.7B	118.4B	116.7B	116.7B
Per Share Data
Avg. Price	8.33	10.08	12.50	16.16	21.88	26.10	27.58	26.44	33.02	40.66	31.29	24.90	27.22
EPS	0.97	1.20	1.84	3.03	3.34	1.77	2.87	1.63	3.85	5.47	0.37	1.41	1.72
Owner EPS	0.30	1.31	1.09	1.49	1.52	1.35	1.08	1.60	4.59	4.07	0.33	0.85	0.91
Book Value	10.29	9.89	10.27	10.50	11.18	10.09	11.14	11.25	13.52	16.68	15.54	15.49	16.32
Cash Flow/Share	1.34	2.44	2.12	2.44	2.63	2.52	2.22	2.56	5.71	5.10	1.52	2.24	2.96
Dividends/Share	N/A	0.76	0.83	0.91	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.00
Shares Out.	8.5B	8.3B	7.9B	7.3B	6.4B	6.3B	5.7B	5.6B	5.7B	5.7B	5.7B	5.7B	5.7B
Valuation
P/E Ratio	9.2	9.4	7.4	5.7	7.1	16.4	9.6	17.4	12.1	7.7	67.3	17.3	15.8
Price/Book	0.9	1.1	1.3	1.7	2.1	2.9	2.5	2.5	3.4	2.5	1.6	1.6	1.7
Price/Sales	1.1	1.3	1.8	2.3	2.7	3.1	3.8	3.6	2.3	2.5	3.0	2.2	2.5
EV/EBIT	N/A	N/A	N/A	4.5	N/A	N/A	N/A	N/A	55.4	6.9	N/A	N/A	0.0
FCF Yield	13.1%	19.7%	14.3%	13.1%	9.8%	7.5%	6.7%	7.6%	11.3%	10.8%	3.4%	7.1%	6.7%
Market Cap	76.0B	94.4B	108.1B	126.2B	151.8B	182.9B	156.6B	159.4B	265.2B	240.9B	142.5B	139.1B	154.8B
Year-End Price	8.91	11.36	13.65	17.37	23.78	29.10	27.62	28.38	46.45	42.00	24.88	24.41	27.22

PFIZER INC

Business Description

Revenue by Segment

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