15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 8.5% per year over the past 5 years.
Net income has grown slower than revenue (-3.2% vs 8.5% per year).
Free cash flow has declined 5.7% per year over the past 5 years.
Financial health
Total debt ($64.6B) exceeds cash ($1.1B); net debt is $63.5B.
Total debt has grown faster than revenue (70.0% vs 8.5% per year).
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$62.6B
$7.8B
74.3%
0.0%
$9.1B
$64.6B
$1.1B
2024
$63.6B
$8.0B
71.9%
0.0%
$9.8B
$63.6B
$1.0B
2023
$59.6B
$2.1B
58.1%
0.0%
$4.8B
$71.8B
$2.9B
2022
$101.2B
$31.4B
66.1%
0.0%
$26.0B
$35.4B
$416M
2021
$81.3B
$22.0B
62.1%
0.0%
$29.9B
$37.8B
$1.9B
2020
$41.7B
$9.2B
79.6%
0.0%
$12.2B
$4.6B
$1.8B
2019
—
$16.0B
—
—
$10.5B
$51.3B
$1.1B
2018
—
$11.2B
—
—
$13.8B
$40.8B
$1.1B
2017
—
$21.3B
—
—
$14.8B
$43.2B
$1.3B
2016
—
$7.2B
—
—
$14.4B
$37.2B
$2.6B
2015
—
$7.0B
—
—
$13.3B
$28.8B
$3.6B
2014
—
$9.1B
—
—
$15.9B
$31.5B
$3.3B
2013
—
$22.0B
—
—
$16.5B
$35.5B
$2.2B
2012
—
$14.6B
—
—
$15.4B
$36.2B
$10.1B
2011
—
$10.0B
—
—
$18.6B
$34.9B
$3.2B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$14.5B
$2.7B
75.4%
0.0%
$2.2B
$64.4B
$1.7B
Dec '25
$17.6B
-$1.6B
70.0%
0.0%
$4.5B
$64.6B
$1.1B
Sep '25
$16.7B
$3.5B
74.9%
0.0%
$4.0B
$61.7B
$1.3B
Jun '25
$14.7B
$2.9B
74.2%
0.0%
-$1.2B
$61.7B
$1.6B
Mar '25
$13.7B
$3.0B
79.3%
0.0%
$1.8B
$61.5B
$1.4B
Dec '24
$17.8B
$410M
66.7%
0.0%
$5.8B
$63.6B
$1.0B
Sep '24
$17.7B
$4.5B
70.3%
0.0%
$6.1B
$67.6B
$1.1B
Jun '24
$13.3B
$41M
75.2%
0.0%
-$2.4B
$69.2B
$1.1B
Mar '24
$14.9B
$3.1B
77.3%
0.0%
$386M
$69.2B
$719M
Dec '23
$14.6B
-$3.4B
48.1%
0.0%
$4.2B
$71.8B
$2.9B
Oct '23
$13.5B
-$2.4B
31.3%
0.0%
$2.6B
$63.3B
$3.1B
Jul '23
$13.0B
$2.3B
75.1%
0.0%
-$2.1B
$64.9B
$2.6B
Apr '23
$18.5B
$5.5B
73.6%
0.0%
$73M
$35.3B
$2.2B
Dec '22
$24.3B
$5.0B
60.3%
0.0%
$7.6B
$35.4B
$416M
Oct '22
$22.6B
$8.6B
73.2%
0.0%
$5.1B
$35.2B
$1.3B
Jul '22
$27.7B
$9.9B
68.8%
0.0%
$7.4B
$35.6B
$1.8B
Apr '22
$25.7B
$7.9B
61.1%
0.0%
$5.9B
$35.9B
$2.5B
Dec '21
—
$3.4B
—
—
$4.9B
$37.8B
$1.9B
Oct '21
—
$8.1B
—
—
$10.2B
$39.0B
$2.0B
Jul '21
—
$5.6B
—
—
$10.8B
$39.1B
$2.4B
Valuation over time
How the market has priced PFE against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 7.4× (Mar '23) to 17.4× (Jun '26).
The price-to-sales ratio has fallen from 2.3× (Mar '23) to 2.2× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is PFE growing its revenue and profit?
Over the past 5 years, Pfizer's revenue has grown 8.5% per year, and net income declined 3.2% per year. These are computed facts, not advice.
How much debt does PFE have?
As of FY2025, Pfizer reported $64.6B of total debt against $1.1B of cash.
What is PFE's profit margin?
In FY2025, gross margin was 74.3%, operating margin —, and net margin 12.4%.
What is PFE's P/E ratio?
As of Jun '26, Pfizer traded at a price-to-earnings ratio of about 17.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.