Debt to Equity
since 2005

Pfizer Inc., debt to equity, long-term trends, calculation

	Debt to equity	=	Total debt¹	÷	Total Pfizer Inc. shareholders’ equity¹
Dec 31, 2023	0.81	=	71,888)	÷	89,014)
Dec 31, 2022	0.37	=	35,829)	÷	95,661)
Dec 31, 2021	0.50	=	38,436)	÷	77,201)
Dec 31, 2020	0.63	=	39,836)	÷	63,238)
Dec 31, 2019	0.83	=	52,150)	÷	63,143)
Dec 31, 2018	0.66	=	41,740)	÷	63,407)
Dec 31, 2017	0.60	=	43,491)	÷	72,308)
Dec 31, 2016	0.71	=	42,086)	÷	59,544)
Dec 31, 2015	0.60	=	38,978)	÷	64,720)
Dec 31, 2014	0.51	=	36,682)	÷	71,301)
Dec 31, 2013	0.48	=	36,489)	÷	76,307)
Dec 31, 2012	0.46	=	37,460)	÷	81,260)
Dec 31, 2011	0.47	=	38,949)	÷	82,190)
Dec 31, 2010	0.50	=	44,033)	÷	87,813)
Dec 31, 2009	0.54	=	48,662)	÷	90,014)
Dec 31, 2008	0.30	=	17,283)	÷	57,556)
Dec 31, 2007	0.20	=	13,139)	÷	65,010)
Dec 31, 2006	0.11	=	7,980)	÷	71,358)
Dec 31, 2005	0.27	=	17,936)	÷	65,627)

¹ US$ in millions

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Pfizer Inc., debt to equity, long-term trends, comparison to competitors

	Pfizer Inc.	AbbVie Inc.	Amgen Inc.	Bristol-Myers Squibb Co.	Danaher Corp.	Eli Lilly & Co.	Gilead Sciences Inc.	Johnson & Johnson	Merck & Co. Inc.	Moderna Inc.	Regeneron Pharmaceuticals Inc.	Thermo Fisher Scientific Inc.
Dec 31, 2023	0.81	5.73	10.37	1.35	0.34	2.34	1.09	0.43	0.93	0.04	0.10	0.75
Dec 31, 2022	0.37	3.67	10.64	1.27	0.39	1.52	1.19	0.52	0.67	0.06	0.12	0.78
Dec 31, 2021	0.50	4.98	4.97	1.24	0.49	1.88	1.27	0.46	0.87	0.05	0.14	0.85
Dec 31, 2020	0.63	6.58	3.51	1.34	0.53	2.94	1.73	0.56	1.26	0.05	0.24	0.63
Dec 31, 2019	0.83	—	3.09	0.91	0.72	5.88	1.09	0.47	1.02	0.03	0.06	0.60
Dec 31, 2018	0.66	—	2.71	0.52	0.35	1.30	1.28	0.51	0.94	0.03	0.08	0.69
Dec 31, 2017	0.60	7.33	1.40	0.68	0.40	1.18	1.64	0.57	0.71	—	0.11	0.83
Dec 31, 2016	0.71	7.95	1.16	0.41	0.53	0.74	1.39	0.39	0.62	—	0.11	0.77
Dec 31, 2015	0.60	8.03	1.12	0.47	0.54	0.55	1.20	0.28	0.59	—	0.10	0.59
Dec 31, 2014	0.51	8.62	1.19	0.53	0.15	0.52	0.80	0.27	0.44	—	0.18	0.71
Dec 31, 2013	0.48	3.28	1.45	0.55	0.16	0.30	0.58	0.25	0.50	—	0.26	0.62
Dec 31, 2012	0.46	4.66	1.39	0.54	0.28	0.37	0.88	0.25	0.39	—	0.37	0.46
Dec 31, 2011	0.47	—	1.13	0.34	0.31	0.52	1.13	0.34	0.32	—	0.90	0.47
Dec 31, 2010	0.50	—	0.56	0.35	0.21	0.56	0.59	0.30	0.33	—	0.31	0.14
Dec 31, 2009	0.54	—	0.47	0.43	0.25	0.70	0.18	0.29	0.30	—	0.27	0.14
Dec 31, 2008	0.30	—	0.50	0.55	0.27	1.55	0.31	0.28	0.33	—	0.00	0.14
Dec 31, 2007	0.20	—	0.63	0.59	0.41	0.37	0.38	0.22	0.32	—	0.43	0.15
Dec 31, 2006	0.11	—	0.48	0.74	0.37	0.34	0.77	0.17	0.39	—	0.92	0.19
Dec 31, 2005	0.27	—	0.19	0.77	0.21	0.60	0.10	0.07	0.45	—	1.75	0.21

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Pfizer Inc., debt to equity, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

	Pfizer Inc.	Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2023	0.81	0.98
Dec 31, 2022	0.37	0.79
Dec 31, 2021	0.50	0.92
Dec 31, 2020	0.63	1.14
Dec 31, 2019	0.83	1.10
Dec 31, 2018	0.66	0.94
Dec 31, 2017	0.60	0.88
Dec 31, 2016	0.71	0.79
Dec 31, 2015	0.60	0.68
Dec 31, 2014	0.51	0.55
Dec 31, 2013	0.48	0.52
Dec 31, 2012	0.46	0.51
Dec 31, 2011	0.47	0.46
Dec 31, 2010	0.50	0.39
Dec 31, 2009	0.54	0.39
Dec 31, 2008	0.30	0.37
Dec 31, 2007	0.20	0.30
Dec 31, 2006	0.11	0.25
Dec 31, 2005	0.27	0.29

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Pfizer Inc., debt to equity, long-term trends, comparison to industry (health care)

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Pfizer Inc. (NYSE:PFE)