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Pfizer PFE Debt-to-equity

Debt-to-equity at other companies

Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
2.2×-0.6×
Eli Lilly logo
Eli LillyLLY
1.4×-1.1×
Johnson & Johnson logo
Johnson & JohnsonJNJ
0.7×0.0×
Merck & Co. logo
Merck & Co.MRK
1.1×+0.3×
Amgen logo
AmgenAMGN
6.2×-3.0×
Incyte logo
IncyteINCY
0.0×

Other financials

Income statement

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Revenue$14.5B+5.4%
Gross profit$10.9B+0.3%
Net income$2.7B-9.4%
EPS (diluted)$0.47-9.6%

Balance sheet

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Cash & equivalents$1.8B+18.8%
Total debt$64.4B+5.0%
Total equity$90.1B-0.3%
Total assets$207.62B-0.2%

Cash flow

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Operating cash flow$2.6B+12.0%
CapEx$436.0M-22.7%
Free cash flow$2.2B+23.0%

Valuation

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Market cap$147.73B+11.1%
Enterprise value$210.4B+9.2%
P/E12.2×
P/S2.3×+0.2×

Profitability

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Gross margin73.5%+1.2pp
Net margin15.7%

Returns & leverage

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Return on equity10.6%
Current ratio1.2×0.0×

Where this comes from

Calculated from Pfizer’s reported figures.

Based on the most recent quarter.

The official record: Pfizer’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pfizer's debt-to-equity?
Pfizer (PFE) reported debt-to-equity of 0.7× in Q1 2026.
How has Pfizer's debt-to-equity changed year-over-year?
Pfizer's debt-to-equity increased by 5.2% year-over-year, from 0.7× to 0.7×.
What is the long-term trend for Pfizer's debt-to-equity?
Over 4 years (2021 to 2025), Pfizer's debt-to-equity has grown at a 6.8% compound annual growth rate (CAGR), from 2.2× to 2.8×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.