Quality Investor

Pfizer Inc.

Rank #310Value

PFE · NYSE · Healthcare

Pfizer Inc. (PFE) — Rank #310 by gross profitability (GP/assets 0.23) · ROE 9.1% · Piotroski F-Score 5 / 9.

As-of 2026-09-15 · CIK 0000078003 · all metrics point-in-time as of the filing date.

About

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States and internationally.

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It operates in three segments: Biopharma, PC1, and Pfizer Ignite. The company offers internal medicine products, including cardiovascular metabolic diseases products under the Eliquis brand; migraine products under the Nurtec ODT/Vydura and Zavzpret brand; vaccines under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and Paxlovid for the treatment of COVID-19. It also provides inflammation and immunology products, such as Xeljanz, Enbrel, Cibinqo, Litfulo, Eucrisa, and Velsipity; rare disease products for therapeutic areas comprising amyloidosis, hemophilia, and endocrine diseases under the Vyndaqel family, Genotropin, BeneFIX, Xyntha, Somavert, Ngenla, and Hympavzi brands; and anti-infective and immunoglobulin medicines under the Zavicefta, Octagam, and Panzyga brands. In addition, the company offers oncology products comprising ADCs, small molecules, bispecific, and other immunotherapies for the treatment of cancers, including breast cancer, genitourinary cancer, and hematologic malignancies, as well as melanoma, gastrointestinal, gynecological, and lung cancer under the Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak, and Talzenna brands. Further, it provides biosimilars under the Inflectra brand; oncology biosimilars comprising Retacrit, Ruxience, Zirabev, Trazimera and Nivestym, and other biosimilars; and sterile injectables, such as Sulperazon, Atgam, Fragmin, Solu Medrol, Solu Cortef, and Bicillin. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Merck KGaA; and BioNTech SE, as well as a strategic collaboration with Boltz, PBC to develop and deploy biomolecular AI foundation models. Pfizer Inc.

was founded in 1849 and is headquartered in New York, New York.

Industry
Drug Manufacturers - General
Sector
Healthcare
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
December 31
Website
pfizer.com

Price History

PFE-22.9% · -5.1% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$156.63B

P/E (annual)

20.2

P/S (annual)

2.5

P/B

1.8

P/OCF (annual)

13.4

Shareholder Yield

-0.2%

Employees

75,000

Industry

Drug Manufacturers - General

Exchange

NYSE

Signal Flags

2 red
Revenue declining YoYRevenue contracted year over year
Valuation convergenceEPS declining, shares diluting, and revenue growth decelerating simultaneously

Quality Profile

Profitability

1/1 pass
GP / assets
0.23
Return on equity
9.1%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.35
Current ratio
1.27×
Net cash
-$52.82B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.3%

Growth

1/2 pass
Revenue growth
-1.6%
Piotroski F-Score
5 / 9
Share dilution
0.2%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

3 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

5.7%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 0.2% — per-share value needs a total required return of 6.0% once share-count change is priced in.

vs. own 6-year median revenue growth: 15.1%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

1.5%

r = 10% (base)

5.7%

r = 12%

9.4%

Net debt / market cap: 33.6%— material leverage inflates the implied growth read.

Base FCF: $9.1B3Y mean FCF: $7.9B

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

19.9xFair
7.7xmed 19.2x74.5x

P / S

Price / revenue per share

2.5xFair
2.3xmed 2.8x5.7x

P / B

Price / book value per share

1.8xFair
1.7xmed 2.8x4.3x

P / GP

Price / gross profit per share

3.3xCheap
3.2xmed 4.7x7.2x

P / FCF

Price / free cash flow per share

17.1xFair
8.1xmed 16.9x32.8x

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.23

Primary signal (Novy-Marx).

7th of 9 SIC 2834 peers

Return on equity

9.1%

Gross margin

74.3%

6th of 9 SIC 2834 peers

Revenue growth (YoY)

-1.6%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-14.8%

Revenue CAGR (5Y)

8.5%

Earnings CAGR (3Y)

-37.2%

FCF CAGR (3Y)

-29.6%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.35

8th of 9 SIC 2834 peers (best = lowest)

Current ratio

1.27×

9th of 9 SIC 2834 peers

Quick ratio

0.64×

Net cash

-$52.82B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$9.07B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.17

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.3%

Stock-based comp intensity.

Piotroski F-Score

F-Score

5 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Hypergrowth
Value