What is Pfizer's deferred revenue?

Pfizer (PFE) reported deferred revenue of $784M in Q4 2025.

How has Pfizer's deferred revenue changed year-over-year?

Pfizer's deferred revenue decreased by 48.1% year-over-year, from $1.51B to $784M.

What is the long-term trend for Pfizer's deferred revenue?

Over 5 years (2020 to 2025), Pfizer's deferred revenue has grown at a -6.8% compound annual growth rate (CAGR), from $1.11B to $784M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Pfizer PFE Deferred Revenue

Discontinued — last reported Q4 '25

Deferred Revenue at other companies

Ionis PharmaceuticalsIONS

$69.2M-14.7%

ModernaMRNA

$102M-18.4%

BridgeBio PharmaBBIO

$6.12M-65.1%

Kymera TherapeuticsKYMR

$0-100%

ExelixisEXEL

——

Segments

By product

See full

Comirnaty$2.1B-30.0%

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

See full

Cash & equivalents$1.8B+18.8%

Total debt$64.4B+4.9%

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$134.91B-1.0%

Enterprise value$197.57B+0.7%

P/E11.1×—

P/S2.1×-0.1×

Profitability

See full

Gross margin73.5%+1.2pp

Net margin15.7%—

FCF margin18%+8.8pp

Returns & leverage

See full

Return on equity10.6%—

Debt / equity0.7×0.0×

Current ratio1.2×0.0×

Where this comes from

Reported directly by Pfizer in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The official record: Pfizer’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Pfizer's deferred revenue?: Pfizer (PFE) reported deferred revenue of $784M in Q4 2025.
How has Pfizer's deferred revenue changed year-over-year?: Pfizer's deferred revenue decreased by 48.1% year-over-year, from $1.51B to $784M.
What is the long-term trend for Pfizer's deferred revenue?: Over 5 years (2020 to 2025), Pfizer's deferred revenue has grown at a -6.8% compound annual growth rate (CAGR), from $1.11B to $784M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.