Pfizer Inc.
Financial Performance
Pfizer Revenue & Financials
Revenue
$62.6B (FY2025)
Market Cap
$160.3B
Net Income
$7.8B
Employees
75,000
What is Pfizer's revenue?
Pfizer had $62.6B in revenue for fiscal year 2025, down 1.6% from 2024. Net income was $7.8B.
- Latest revenue
- $62.6B (FY2025)
- Year-over-year
- -1.6%
- Growth rate (CAGR)
- 1.9% over 9 years
- Peak revenue
- $101.2B (FY2022)
- Years of data
- 10
- Employees
- 75,000
- How much profit does Pfizer make?
- Pfizer reported net income of $7.8B for fiscal year 2025. sec.gov
- How many employees does Pfizer have?
- Pfizer has about 75,000 employees.
Financial Analysis
Pfizer revenue rose from $41.7 billion in 2020 to $81.3 billion in 2021 and $101.2 billion in 2022 on Comirnaty and Paxlovid, then fell to $59.6 billion in 2023 as COVID demand collapsed. It recovered to $63.6 billion in 2024 and was $62.6 billion in 2025, with net income of $7.8 billion. In Q2 2026 revenue was $15.0 billion, up 1% operationally, or 5% excluding COVID products, and Pfizer raised the midpoint of its 2026 revenue guidance to $60.5 billion to $62.5 billion with adjusted EPS guidance of $2.80 to $3.00. The roughly $31 billion of debt raised for Seagen in 2023 and an ongoing cost-reduction program shape capital allocation alongside a dividend yield near 6%. Pfizer ranks among the largest pharmaceutical companies in the world, carrying a market valuation typically exceeding $150 billion.
Revenue Trend Analysis
YoY Change
-1.6%
9-Year CAGR
+1.9%
Peak Year
2022
Trend
Mostly Growing
Pfizer Inc. has 10 full fiscal year figures on this page, compounding at +1.9% annually over 9 years. The most recent year saw a 1.6% decline versus the prior year. Annual revenue peaked in fiscal year 2022 at $101.2B. Of 9 comparable year-over-year steps, 5 showed growth and 4 showed a decline.
Annual revenue history
Click any row to see year details.
Pfizer Inc. balance sheet and cash flow
Balance-sheet figures are as of each fiscal year end; cash-flow figures cover the fiscal year. Taken from the company's annual report on Form 10-K, linked on each row. Free cash flow here is operating cash flow less capital expenditures, calculated by CorpDigest.
| Fiscal Year | Operating cash flow | Capital expenditures | Total assets | Total liabilities | Shareholders' equity | Free cash flow | Source |
|---|---|---|---|---|---|---|---|
| FY2025ended Dec 31, 2025 | $11.7B | $2.6B | $208.2B | $121.4B | $86.5B | $9.1B | Form 10-K |
| FY2024ended Dec 31, 2024 | $12.7B | $2.9B | $213.4B | $124.9B | $88.2B | $9.8B | Form 10-K |
| FY2023ended Dec 31, 2023 | $8.7B | $3.9B | $226.5B | $137.2B | $89B | $4.8B | Form 10-K |
| FY2022ended Dec 31, 2022 | $29.3B | $3.2B | $197.2B | $101.3B | $95.7B | $26B | Form 10-K |
| FY2021ended Dec 31, 2021 | $32.6B | $2.7B | $181.5B | $104B | $77.2B | $29.9B | Form 10-K |
| FY2020ended Dec 31, 2020 | $14.4B | $2.2B | $154.2B | $90.8B | $63.2B | $12.2B | Form 10-K |
| FY2019ended Dec 31, 2019 | $12.6B | $2B | $167.6B | $104.1B | $63.1B | $10.5B | Form 10-K |
| FY2018ended Dec 31, 2018 | $15.8B | $2B | $159.4B | $95.7B | $63.4B | $13.8B | Form 10-K |
| FY2017ended Dec 31, 2017 | $16.8B | $2B | $171.8B | $100.1B | $71.3B | $14.8B | Form 10-K |
| FY2016ended Dec 31, 2016 | $16.2B | $1.8B | $171.6B | $111.8B | $59.5B | $14.4B | Form 10-K |
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Pfizer Revenue and Financial FAQ
What is Pfizer's annual revenue scale in the post-pandemic normalized environment?
Pfizer Inc. reported revenue of $62.6 billion for fiscal year 2025, down from $63.6 billion in fiscal 2024.
What is Pfizer's R&D expenditure budget?
Pfizer spent US$10.4 billion on Research & Development in 2025 (about 17% of revenue) and guided to US$10.5 billion to US$11.5 billion of adjusted R&D expenses for 2026, funding discovery biology, translational medicine, and over 100 active clinical development programs.
What is Pfizer's shareholder dividend yield and payout record?
Pfizer's third-quarter 2026 dividend was its 351st consecutive quarterly dividend (more than 85 years). After years of annual increases, it declared a first-quarter 2026 dividend of US$0.43 per share, unchanged from its 2025 quarterly rate, and it paid US$9.8 billion in cash dividends in 2025, with one of the highest dividend yields in the pharmaceutical sector.
What is Pfizer's Adjusted Diluted Earnings Per Share (EPS) and operating margin profile?
Pfizer reported adjusted diluted EPS of US$3.22 for 2025 (reported diluted EPS of US$1.36) and in February 2026 reaffirmed 2026 guidance for adjusted diluted EPS of US$2.80 to US$3.00.
What is Pfizer's corporate balance sheet debt structure following the Seagen acquisition?
Pfizer holds approximately $60 billion in long-term senior unsecured notes, having issued $31 billion in debt to finance the Seagen acquisition in 2023. Pfizer maintains an investment-grade credit rating (A2/A) and is actively deploying free cash flow to de-lever the balance sheet.
What is Pfizer's annual Free Cash Flow generation?
Pfizer generates strong normalized annual operating cash flows of $14 billion to $18 billion and Free Cash Flow of $10 billion to $13+ billion, comfortably covering shareholder dividend distributions and ongoing pipeline reinvestment.
How is Pfizer's revenue split geographically between the US and International markets?
The United States represents approximately 50% to 55% of Pfizer's total revenue, with international developed markets (Europe, Japan, Canada) contributing 30% to 35%, and emerging markets accounting for 15% to 20%.
What is the financial contribution of Pfizer's Vyndaqel/Vyndamax family?
The Vyndaqel family (tafamidis for transthyretin amyloid cardiomyopathy - ATTR-CM) has emerged as a multi-blockbuster franchise for Pfizer, generating US$6.4 billion in 2025 sales, up 17% from US$5.5 billion in 2024, with rapid international adoption.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Pfizer Revenue & Financials." CorpDigest, https://corpdigest.com/company/pfizer/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Pfizer reported $62.6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/pfizer/financials" target="_blank" rel="noopener">CorpDigest — Pfizer financials</a></div>Related Financial Audits
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