PFIZER INC
Business
Pfizer Inc. is a research-based, global biopharmaceutical company that discovers, develops, manufactures, markets, sells and distributes medicines and vaccines worldwide. The company offers innovative biopharmaceutical products across primary care (vaccines, cardiovascular, migraine), specialty care (inflammation & immunology, rare disease), oncology (ADCs, small molecules, bispecifics), and hospital & biosimilars portfolios. Pfizer operates through a single reportable segment, Biopharma, with commercial divisions serving U.S. and international markets, alongside a contract development and manufacturing organization (PC1) supplying specialty active pharmaceutical ingredients.
Summary from 10-K filed 2026-02-26
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Alliance revenues | 9,266 | 8,388 | 7,582 | 8,537 | 7,652 | |
| Total revenues | 62,579 | 63,627 | 59,553 | 101,175 | 81,288 | |
| Cost of sales | 16,067 | 17,851 | 24,954 | 34,344 | 30,821 | |
| Selling, informational and administrative expenses | 13,794 | 14,730 | 14,771 | 13,677 | 12,703 | |
| Research and development expenses | 10,437 | 10,822 | 10,679 | 11,428 | 10,360 | |
| Acquired in-process research and development expenses | 1,613 | 108 | 194 | 953 | 3,469 | |
| Amortization of intangible assets | 4,874 | 5,286 | 4,733 | 3,609 | 3,700 | |
| Restructuring charges and certain acquisition-related costs | 1,550 | 2,419 | 2,943 | 1,375 | 802 | |
| Other (income)/deductionsnet | 6,724 | 4,388 | 222 | 1,062 | −4,878 | |
| Income from continuing operations before provision/(benefit) for taxes on income | 7,520 | 8,023 | 1,058 | 34,729 | 24,311 | |
| Provision/(benefit) for taxes on income | −266 | −28 | −1,100 | 3,300 | 1,852 | |
| Income from continuing operations | 7,787 | 8,051 | 2,172 | 31,401 | 22,459 | |
| Discontinued operationsnet of tax | 25 | 11 | −15 | 6 | −434 | |
| Net income before allocation to noncontrolling interests | 7,812 | 8,062 | 2,158 | 31,407 | 22,025 | |
| Less: Net income attributable to noncontrolling interests | 41 | 31 | 39 | 35 | 45 | |
| Net income attributable to Pfizer Inc. common shareholders | 7,771 | 8,031 | 2,119 | 31,372 | 21,979 | |
| Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | 1.37 | 1.42 | 0.38 | 5.59 | 4 | |
| Discontinued operationsnet of tax (in dollars per share) | 0 | 0 | 0 | 0 | −0.08 | |
| Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | 1.37 | 1.42 | 0.38 | 5.59 | 3.92 | |
| Income from continuing operations attributable to Pfizer Inc. common shareholders (in dollars per share) | 1.36 | 1.41 | 0.37 | 5.47 | 3.93 | |
| Discontinued operationsnet of tax (in dollars per share) | 0 | 0 | 0 | 0 | −0.08 | |
| Net income attributable to Pfizer Inc. common shareholders (in dollars per share) | 1.36 | 1.41 | 0.37 | 5.47 | 3.85 | |
| Weighted-average sharesbasic (in shares) | 5,683 | 5,664 | 5,643 | 5,608 | 5,601 | |
| Weighted-average sharesdiluted (in shares) | 5,713 | 5,700 | 5,709 | 5,733 | 5,708 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 1,142 | 1,043 | 2,853 | 416 | 1,944 | |
| Short-term investments | 12,454 | 19,434 | 9,837 | 22,316 | 29,125 | |
| Trade accounts receivable, net of allowance for doubtful accounts: 2025$427; 2024$438 | 11,874 | 11,463 | 11,566 | 10,952 | 11,479 | |
| Inventories | 10,654 | 10,851 | 10,189 | 8,981 | 9,059 | |
| Current tax assets | 3,967 | 3,314 | 3,978 | 3,577 | 4,266 | |
| Other current assets | 2,808 | 4,253 | 4,911 | 5,017 | 3,820 | |
| Total current assets | 42,898 | 50,358 | 43,333 | 51,259 | 59,693 | |
| Long-term investments | 1,621 | 2,228 | 3,731 | 4,036 | 5,054 | |
| Property, plant and equipment, net | 19,317 | 18,393 | 18,940 | 16,274 | 14,882 | |
| Identifiable intangible assets, net | 53,731 | 55,411 | 64,900 | 43,370 | 25,146 | |
| Goodwill | 71,264 | 68,527 | 67,783 | 51,375 | 49,208 | |
| Noncurrent deferred tax assets and other noncurrent tax assets | 9,699 | 8,662 | 3,706 | 6,693 | 3,341 | |
| Other noncurrent assets | 9,631 | 9,817 | 12,471 | 13,163 | 7,679 | |
| Total assets | 208,000 | 213,000 | 227,000 | 197,000 | 181,000 | |
| Short-term borrowings, including current portion of long-term debt: 2025$2,997; 2024$3,747 | 3,154 | 6,946 | 10,350 | 2,945 | 2,241 | |
| Trade accounts payable | 5,240 | 5,633 | 6,710 | 6,809 | 5,578 | |
| Dividends payable | 2,445 | 2,437 | 2,372 | 2,303 | 2,249 | |
| Income taxes payable | 3,103 | 2,910 | 2,349 | 1,587 | 1,266 | |
| Accrued compensation and related items | 3,610 | 3,838 | 2,776 | 3,407 | 3,332 | |
| Deferred revenues | 784 | 1,511 | 2,700 | 2,520 | 3,067 | |
| Other current liabilities | 18,648 | 19,720 | 20,537 | 22,568 | 24,939 | |
| Total current liabilities | 36,984 | 42,995 | 47,794 | 42,138 | 42,671 | |
| Long-term debt | 62,000 | 57,000 | 62,000 | 33,000 | 36,000 | |
| Pension and postretirement benefit obligations | 2,041 | 2,115 | 2,167 | 2,250 | 3,724 | |
| Noncurrent deferred tax liabilities | 2,401 | 2,122 | 640 | 1,023 | 349 | |
| Other taxes payable | 3,591 | 6,112 | 8,534 | 9,812 | 11,331 | |
| Other noncurrent liabilities | 14,725 | 14,150 | 16,539 | 13,180 | 9,743 | |
| Total liabilities | 121,385 | 124,899 | 137,213 | 101,288 | 104,013 | |
| Commitments and Contingencies | — | — | — | — | — | |
| Common stock, $0.05 par value; 12,000 shares authorized; issued: 20259,621; 20249,593 | 481 | 480 | 478 | 476 | 473 | |
| Additional paid-in capital | 94,469 | 93,603 | 92,631 | 91,802 | 90,591 | |
| Treasury stock, shares at cost: 20253,935; 20243,926 | −115,015 | −114,763 | −114,487 | — | — | |
| Retained earnings | 114,610 | 116,725 | 118,353 | 125,656 | 103,394 | |
| Accumulated other comprehensive loss | −8,069 | −7,842 | −7,961 | −8,304 | −5,897 | |
| Total Pfizer Inc. shareholders equity | 86,476 | 88,203 | 89,014 | 95,661 | 77,201 | |
| Equity attributable to noncontrolling interests | 299 | 294 | 274 | 256 | 262 | |
| Total equity | 86,775 | 88,497 | 89,288 | 95,916 | 77,462 | |
| Total liabilities and equity | 208,160 | 213,396 | 226,501 | 197,205 | 181,476 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 6,592 | 7,013 | 6,290 | 5,064 | 5,191 | |
| Asset write-offs and impairments | 5,270 | 4,242 | 3,408 | 550 | 276 | |
| Deferred taxes | −2,133 | −2,102 | −3,442 | −3,764 | −4,293 | |
| Share-based compensation expense | 799 | 877 | 525 | 872 | 1,182 | |
| Benefit plan contributions in excess of expense/income | −786 | −12 | −787 | −1,158 | −3,123 | |
| Inventory write-offs and related charges associated with COVID-19 products | 0 | 0 | 6,199 | 1,183 | 0 | |
| Other adjustments, net | −470 | −2,260 | −3,492 | 758 | −1,573 | |
| Trade accounts receivable | −263 | −109 | 347 | 261 | −3,811 | |
| Inventories | 561 | −854 | −1,169 | −591 | −1,125 | |
| Other assets | 1,289 | 3,380 | −663 | −4,506 | −1,057 | |
| Trade accounts payable | −469 | −1,023 | −300 | 1,191 | 1,242 | |
| Other liabilities | −3,667 | −3,115 | 595 | −1,449 | 18,721 | |
| Other tax accounts, net | −2,805 | −1,345 | −982 | −545 | −1,166 | |
| Net cash provided by/(used in) operating activities | 11,704 | 12,744 | 8,700 | 29,267 | 32,580 | |
| Purchases of property, plant and equipment | −2,629 | −2,909 | −3,907 | −3,236 | −2,711 | |
| Purchases of short-term investments | −14,356 | −10,133 | −30,974 | −36,384 | −38,457 | |
| Proceeds from redemptions/sales of short-term investments | 17,959 | 4,128 | 39,264 | 44,821 | 27,447 | |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | −2,675 | 3,136 | 5,174 | −483 | −8,088 | |
| Purchases of long-term investments | −294 | −180 | −204 | −1,913 | −1,068 | |
| Proceeds from redemptions/sales of long-term investments | 1,095 | 1,570 | 1,979 | 641 | 649 | |
| Proceeds from partial sales of investment in Haleon | 6,311 | 7,040 | 0 | 0 | — | |
| Acquisitions of businesses, net of cash acquired | −6,927 | 0 | −43,430 | −22,997 | 0 | |
| Other investing activities, net | 165 | 2 | −179 | −192 | −305 | |
| Net cash provided by/(used in) investing activities | −1,351 | 2,652 | −32,278 | −15,783 | −22,546 | |
| Proceeds from short-term borrowings | 0 | 8,907 | 4,525 | 3,891 | 0 | |
| Payments on short-term borrowings | −2,199 | −11,226 | −3 | −3,887 | 0 | |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | −796 | −2,590 | 3,161 | −222 | −96 | |
| Proceeds from issuance of long-term debt | 9,678 | 0 | 30,831 | 0 | 997 | |
| Payments on long-term debt | −6,757 | −2,250 | −2,569 | −3,298 | −2,004 | |
| Cash dividends paid | −9,771 | −9,512 | −9,247 | −8,983 | −8,729 | |
| Other financing activities, net | −458 | −469 | −631 | −335 | 16 | |
| Net cash provided by/(used in) financing activities | −10,304 | −17,140 | 26,066 | −14,834 | −9,816 | |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | 41 | −66 | −40 | −165 | −59 | |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | 91 | −1,810 | 2,448 | −1,515 | 159 | |
| Income taxes | 4,688 | 3,605 | 3,147 | 7,867 | 7,427 | |
| Interest paid | 2,739 | 3,227 | 2,215 | 1,442 | 1,467 | |
| Interest rate hedges | 140 | 178 | 134 | 54 | −2 | |
| Right-of-use assets obtained in exchange for lease liabilities | 288 | 283 | 614 | 752 | 1,943 |
Filings
Material Events
Insiders
Institutional Holders
Holdings (13F)
Portfolio as of 2025-12-31 · 21 positions
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $236.45M | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| ORIC PHARMACEUTICALS INC | — | 5.38M | $43.98M | 18.6% |
| ARVINAS INC | — | 3.46M | $41.01M | 17.3% |
| CELCUITY INC | — | 349.4K | $34.85M | 14.7% |
| WAVE LIFE SCIENCES LTD | — | 1.88M | $31.88M | 13.5% |
| ALLOGENE THERAPEUTICS INC | — | 22.03M | $30.18M | 12.8% |
| ZURA BIO LTD | — | 2.97M | $15.56M | 6.6% |
| CARIBOU BIOSCIENCES INC | — | 4.69M | $7.46M | 3.1% |
| PYXIS ONCOLOGY INC | — | 5.95M | $6.84M | 2.9% |
| CARDIFF ONCOLOGY INC | — | 2.41M | $6.78M | 2.9% |
| BIOHAVEN LTD | — | 505.6K | $5.71M | 2.4% |
Frequently asked questions
What is PFIZER INC's CIK number?
PFIZER INC's SEC CIK number is 0000078003 (78003). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find PFIZER INC's SEC filings?
All of PFIZER INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did PFIZER INC last report earnings?
PFIZER INC (PFE) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000078003-26-000053). This is PFIZER INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is PFIZER INC's most recent earnings 8-K?
PFIZER INC's latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0000078003-26-000053. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View PFIZER INC's latest earnings 8-K →
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