# Pfizer Inc. (PFE)

> Pfizer develops, makes and sells prescription medicines and vaccines, and earns additional fees and royalties from manufacturing and commercial partnerships.

- Exchange: NYSE · Sector: Healthcare · Industry: Drug Manufacturers General
- Headquarters: New York City, New York
- Founded: 1849
- Employees: 75,000
- SEC CIK: 0000078003 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000078003))
- Full page: https://inspectstocks.com/stocks/pfe
- Data as of: price 2026-09-25; newest filing used 2026-08-04; latest fiscal period ended 2026-06-28

## Grade

**B** on the growth-and-cash rubric, 4 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | failed | $63.7B | $79.3B |
| Revenue growing recently | passed | $63.7B | $62.6B |
| Free cash flow positive | passed | $11B |  |
| Free cash flow growing overall | passed | $11B | $10.7B |
| Free cash flow growing recently | passed | $11B | $9.1B |

Business quality (the + / − mark): 3 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 6.8% |  |
| Healthy profit margin | failed | 6.8% |  |
| Good return on equity | failed | 5.0% |  |
| Debt under control | passed | 0.78 |  |
| Turns sales into cash | passed | 17.2% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $63.7B |
| Net income, trailing twelve months | $4.3B |
| Free cash flow, trailing twelve months | $11B |
| Net margin | 6.8% |
| Return on equity | 5.0% |
| Debt to equity | 0.78 |
| Diluted EPS, trailing twelve months | $0.76 |
| Share price | $28.67 |
| Market value | $163.4B |
| Price / earnings | 37.7x |
| Price / sales | 2.6x |

## What the business does

Pfizer discovers, tests, manufactures, markets and sells medicines and vaccines around the world. Its products address conditions including cancer, heart and blood-vessel diseases, migraine, infections, immune disorders and rare diseases. It also makes medicines and drug ingredients for other companies and is winding down a research-services business for biotechnology companies.

### How it makes money

- **Sales of its medicines and vaccines** (94.5%) — Pfizer sells its own prescription medicines and vaccines, mainly to wholesalers, and also directly to retailers, hospitals, clinics, pharmacies and government buyers.
- **Royalties** (3.0%) — Pfizer receives payments tied to partner sales of certain medicines and to commercial rights it licenses to other companies.
- **Contract manufacturing and drug ingredients** (2.4%) — Pfizer CentreOne charges other companies to make medicines and supply active pharmaceutical ingredients under manufacturing and supply agreements.
- **Research and development services** (0.1%) — Pfizer Ignite provided research and development guidance and services to selected biotechnology companies. Pfizer said it was winding down this business.

### Products

- **Eliquis** — A prescription medicine that helps prevent blood clots and strokes in certain patients. Pfizer shares its development and commercial profits with Bristol Myers Squibb.
- **Pfizer vaccine portfolio** — Vaccines include the Prevnar family for pneumococcal disease, Comirnaty to help prevent coronavirus disease, and Abrysvo for respiratory syncytial virus.
- **Paxlovid** — A prescription medicine used to treat coronavirus disease.
- **Oncology medicines** — Cancer medicines include Ibrance for breast cancer, Padcev for bladder cancer, and Xtandi for prostate cancer.
- **Nurtec ODT and Vydura** — Migraine medicines. ODT means orally disintegrating tablet.
- **Vyndaqel family** — Medicines for transthyretin amyloidosis, a disease in which an abnormal protein builds up in the body and can damage the heart or nerves.

### Customers

- Wholesalers, which buy prescription medicines for resale to pharmacies, hospitals and other providers.
- Retailers, pharmacies, hospitals and clinics, which buy medicines directly for patients or for use in care.
- Government agencies and health institutions, which buy vaccines and medicines through contracts or purchasing programs.
- Insurers and pharmacy benefit managers, which negotiate rebates and decide which medicines are covered or preferred on their drug lists.

### Competitors

- Eli Lilly and Company (LLY) — Prescription-medicine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments.
- Novo Nordisk (NVO) — Prescription-medicine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments.
- Merck & Co., Inc. (MRK) — Prescription-medicine and vaccine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments.
- Johnson & Johnson (JNJ) — Prescription-medicine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments.
- AstraZeneca (AZN) — Prescription-medicine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments.
- Bristol Myers Squibb (BMY) — Prescription-medicine sales in disease areas where Pfizer says research-based biopharmaceutical companies compete with similar treatments; it also partners with Pfizer on Eliquis.

### What it depends on

- Revenue depends on continued sales of major medicines and vaccines; generic competition after patent or regulatory exclusivity ends can reduce sales.
- Some important products rely on partnerships: Pfizer shares profits from Comirnaty with BioNTech and from Eliquis with Bristol Myers Squibb, among other collaborations.
- Sales depend on wholesalers and other distribution channels, and on insurers and pharmacy benefit managers covering products and setting their place on medicine lists.
- Pfizer buys raw materials from suppliers worldwide and relies on manufacturing sites and supply chains to make and deliver products.

### What could go wrong

- When patent protection or regulatory exclusivity ends, generic or biosimilar manufacturers can sell lower-priced alternatives. Pfizer says competition can quickly reduce sales of affected products.
- Government price-setting, required rebates and insurer demands can lower the prices Pfizer receives or limit access to its medicines. The Medicare price-negotiation program now sets a price Pfizer must offer for Eliquis.
- Drug development and regulatory approval can fail or change. Pfizer reported that a late-stage study of its investigational cancer medicine sigvotatug vedotin did not meet its main survival goal, and that it withdrew Oxbryta from the United States market after reviewing clinical and registry data.

## More on this company

- [Overview](https://inspectstocks.com/stocks/pfe)
- [Financial statements](https://inspectstocks.com/stocks/pfe/financials)
- [Competitors](https://inspectstocks.com/stocks/pfe/peers)
- [Earnings](https://inspectstocks.com/stocks/pfe/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.