PFIZER INC Earnings Per Share Disclosure
| The following presents the detailed calculation of EPS: | ||||||||||||||||||||
| Year Ended December 31, | ||||||||||||||||||||
(MILLIONS) | 2025 | 2024 | 2023 | |||||||||||||||||
| EPS Numerator | ||||||||||||||||||||
| Income from continuing operations attributable to Pfizer Inc. common shareholders | $ | 7,745 | $ | 8,020 | $ | 2,134 | ||||||||||||||
| Discontinued operations––net of tax | 25 | 11 | (15) | |||||||||||||||||
| Net income attributable to Pfizer Inc. common shareholders | $ | 7,771 | $ | 8,031 | $ | 2,119 | ||||||||||||||
| EPS Denominator | ||||||||||||||||||||
Weighted-average common shares outstanding––Basic | 5,683 | 5,664 | 5,643 | |||||||||||||||||
| Common-share equivalents | 31 | 36 | 66 | |||||||||||||||||
Weighted-average common shares outstanding––Diluted | 5,713 | 5,700 | 5,709 | |||||||||||||||||
Anti-dilutive common stock equivalents(a) | 11 | 24 | 9 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 22, 2018 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.