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Pfizer
(NYSE:PFE)
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Rating:66Neutral
Price Target:
$27.00
â–²(10.02% Upside)
Action:Reiterated
Date:08/04/26
The score is primarily driven by mid-range financial performance: improving TTM revenue and positive cash flow, but with elevated leverage and earnings still well below prior peaks. Technicals add moderate support with mildly bullish momentum and price holding above key moving averages (20/50/200DMA). Valuation is a positive contributor due to the high dividend yield alongside a moderate P/E. The latest earnings call was net supportive on guidance and operational execution, though tempered by impairment-related setbacks, reduced COVID expectations, and LOE/leverage risks.
Positive Factors
Launched & acquired product growth
Sustained double-digit growth from launched and acquired products demonstrates successful portfolio replenishment and commercial execution. That $3.2B tranche growing 18% operationally is a durable revenue engine that can offset post‑COVID declines, supports near‑term revenue stability and aids reinvestment for further launches.
Negative Factors
Elevated leverage
Higher leverage and relatively low operating‑cashflow coverage constrain financial flexibility across a multi‑year LOE transition. With leverage near 2.7x and modest OCF relative to debt, the company faces limited room for large acquisitions or aggressive share repurchase without stronger cash conversion or realized cost savings.
Read all positive and negative factors
Positive Factors
Negative Factors
Launched & acquired product growth
Sustained double-digit growth from launched and acquired products demonstrates successful portfolio replenishment and commercial execution. That $3.2B tranche growing 18% operationally is a durable revenue engine that can offset post‑COVID declines, supports near‑term revenue stability and aids reinvestment for further launches.
Read all positive factors
Pfizer Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Pfizer is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Pfizer is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyPfizer (PFE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$159.99B
Dividend Yield6.13%
Average Volume (3M)44.19M
Price to Earnings (P/E)37.1
Beta (1Y)0.46
Revenue Growth-0.21%
EPS Growth-59.71%
CountryUS
Employees75,000
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.76
Shares Outstanding5,699,674,000
10 Day Avg. Volume38,238,412
30 Day Avg. Volume44,193,922
Financial Highlights & Ratios
PEG Ratio-4.33
Price to Book (P/B)1.64
Price to Sales (P/S)2.26
P/FCF Ratio15.59
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.46Price Target Upside15.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering21
EPS Forecast (FY)2.97
Revenue Forecast (FY)$62.21B
Pfizer Business Overview & Revenue Model
Company Description
Pfizer Inc. is a global biopharmaceutical leader engaged in the research, development, production, marketing, and distribution of a wide array of medicinal and vaccine products worldwide. Its comprehensive portfolio addresses diverse therapeutic a...
How the Company Makes Money
Pfizer makes money primarily by selling branded prescription pharmaceuticals and vaccines. Revenue is generated when Pfizer supplies products—manufactured internally or through third-party manufacturing partners—to wholesalers, retailers and pharm...
Pfizer Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 03, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and strategic narrative: management beat Q2 revenue and adjusted EPS expectations, raised full-year revenue guidance, highlighted strong growth across launched and acquired products (notably Seagen assets, Padcev, NURTEC, and Eliquis), and outlined robust R&D progress (numerous readouts, pivotal starts and promising clinical data across obesity, oncology and immunology). At the same time, material near-term setbacks were disclosed: a Phase III SV miss that drove a $4.3 billion impairment and a GAAP loss, lower-than-expected COVID revenues (notably Paxlovid), removal of Oxbryta revenue from forecasts, and elevated near-term R&D spend. Management emphasized cost-savings initiatives (now targeting ~ $9.7B through 2029), maintained dividend commitments, and raised confidence in returning to growth by the end of the decade. Overall, positives (revenue/EPS beats, guidance raise, strong launched/acquired product growth, and significant pipeline progress) outweigh the material but specific negatives tied largely to one clinical readout and COVID variability.Positive Updates
Quarterly Revenue and Underlying Growth
Total Q2 2026 revenue of $15.0 billion, a 1% year-over-year operational increase. Excluding COVID products, the underlying business grew 5% operationally.
Negative Updates
SV Phase III Miss and Large Impairment Charge
Primary overall survival endpoint not met in the ITT population for the SV non-squamous NSCLC Phase III readout. Q2 GAAP results included $4.3 billion in noncash intangible asset impairments (partly tied to the SV readout and removal of Oxbryta revenue projection). Reported GAAP loss per share was -$0.04 for the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue and Underlying Growth
Total Q2 2026 revenue of $15.0 billion, a 1% year-over-year operational increase. Excluding COVID products, the underlying business grew 5% operationally.
Read all positive updates
Company Guidance
Pfizer raised full‑year 2026 revenue guidance to $60.5–$62.5 billion (midpoint up $0.5B) and reaffirmed adjusted diluted EPS of $2.80–$3.00 (which absorbs an ~ $0.10 headwind tied to a $650M acquired IPR&D charge), while trimming 2026 COVID revenue to ~ $4B (from $5B). Management expects adjusted gross margin in the mid‑70s (Q2 was 76%), and Q2 results included $15B revenue (+1% operational; +5% ex‑COVID), $0.77 adjusted diluted EPS (reported loss per share –$0.04), $3.2B in launched/acquired product revenue (up 18% operational; 27% ex‑one‑time items), 35% adjusted operating margin, $6.1B adjusted operating expenses (R&D +12% op, SG&A –3% op), $3.45B operating cash flow and 2.7x leverage. Pfizer reiterated productivity targets — $700M of Phase‑1 manufacturing savings in 2026 (with $175M realized in Q2), remains on track for most of $7.2B in net savings by end‑2026, and expanded programs to target roughly $9.7B of total net savings through 2029 (including ~ $3B from manufacturing optimization).Pfizer Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 63.70B | 62.58B | 63.63B | 59.55B | 100.33B | 81.29B |
| Gross Profit | 45.43B | 44.01B | 41.85B | 30.34B | 62.09B | 46.88B |
| EBITDA | 12.62B | 15.10B | 18.13B | 9.56B | 41.03B | 30.79B |
| Net Income | 4.33B | 7.77B | 8.02B | 2.13B | 31.36B | 22.15B |
Balance Sheet | ||||||
| Total Assets | 201.13B | 208.16B | 213.40B | 226.50B | 197.21B | 181.48B |
| Cash, Cash Equivalents and Short-Term Investments | 11.70B | 13.60B | 20.48B | 12.69B | 22.73B | 31.07B |
| Total Debt | 63.19B | 67.42B | 66.99B | 70.84B | 34.86B | 37.00B |
| Total Liabilities | 115.64B | 121.39B | 124.90B | 137.21B | 101.29B | 104.01B |
| Stockholders Equity | 85.19B | 86.48B | 88.20B | 89.01B | 95.66B | 77.20B |
Cash Flow | ||||||
| Free Cash Flow | 10.99B | 9.08B | 9.84B | 4.79B | 26.03B | 29.87B |
| Operating Cash Flow | 13.40B | 11.71B | 12.74B | 8.70B | 29.27B | 32.58B |
| Investing Cash Flow | -5.68B | -1.35B | 2.65B | -32.28B | -15.78B | -22.55B |
| Financing Cash Flow | -8.40B | -10.30B | -17.14B | 26.07B | -14.83B | -9.82B |
Pfizer Technical Analysis
Positive
24.54
Price Trends
25.11
Positive
25.45
Positive
25.21
Positive
Market Momentum
0.82
Negative
71.75
Negative
82.34
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PFE, the sentiment is Positive. The current price of 24.54 is below the 20-day moving average (MA) of 26.30, below the 50-day MA of 25.11, and below the 200-day MA of 25.21, indicating a bullish trend. The MACD of 0.82 indicates Negative momentum. The RSI at 71.75 is Negative, neither overbought nor oversold. The STOCH value of 82.34 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PFE.
Pfizer Risk Analysis
Pfizer disclosed 26 risk factors in its most recent earnings report. Pfizer reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We have expended and will continue to expend significant time and resources in connection with the acquisition of Seagen and have incurred substantial indebtedness to fund the acquisition. Q3, 2023
2.
We may not be successful in identifying and executing potential business development transactions, such as our acquisition of Seagen, or realizing the financial and strategic goals that were contemplated at the time of any historical or potential business development transaction, which could have an adverse impact on our ability to meet our growth objectives. Q3, 2023
3.
We may be unable to complete the acquisition of Seagen within the anticipated timeframe or at all, which could prevent us from receiving the anticipated benefits from the acquisition in the anticipated timeframe or at all. Q3, 2023
Pfizer Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $651.25B | 31.24 | 25.73% | 1.99% | 8.07% | -7.21% | |
75 Outperform | $237.52B | 27.09 | 89.32% | 2.61% | 9.89% | 31.69% | |
68 Neutral | $291.05B | 24.12 | 29.64% | 3.06% | 2.33% | -4.08% | |
66 Neutral | $159.99B | 37.09 | 4.89% | 7.01% | -0.21% | -59.71% | |
65 Neutral | $468.22B | 74.66 | -136.50% | 2.63% | 10.39% | 68.16% | |
62 Neutral | $376.37B | 121.07 | 6.60% | 2.56% | 4.51% | -80.62% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
PFE
Pfizer
28.07
4.58
19.49%
AMGN
Amgen
439.33
158.65
56.52%
JNJ
Johnson & Johnson
270.24
95.18
54.37%
MRK
Merck & Company
152.55
70.00
84.80%
NVS
Novartis
158.86
36.22
29.53%
ABBV
AbbVie
264.96
63.66
31.62%
Pfizer Corporate Events
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Pfizer Reaffirms 2026 Outlook Amid CFO Transition
Positive
Jun 18, 2026
Following its June 18, 2026 announcement of a Chief Financial Officer transition, Pfizer reaffirmed the full-year 2026 financial guidance it first issued on December 16, 2025 and reiterated on May 5, 2026. The company continues to project 2026 rev...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.