Stock Analysis on Net
Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

Pfizer Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Revenues1 ÷ Total assets1
Dec 31, 2025 0.30 = 62,579 ÷ 208,160
Dec 31, 2024 0.30 = 63,627 ÷ 213,396
Dec 31, 2023 0.26 = 59,553 ÷ 226,501
Dec 31, 2022 0.51 = 101,175 ÷ 197,205
Dec 31, 2021 0.45 = 82,145 ÷ 181,476
Dec 31, 2020 0.28 = 42,678 ÷ 154,229
Dec 31, 2019 0.31 = 51,750 ÷ 167,489
Dec 31, 2018 0.34 = 53,647 ÷ 159,422
Dec 31, 2017 0.31 = 52,546 ÷ 171,797
Dec 31, 2016 0.31 = 52,824 ÷ 171,615
Dec 31, 2015 0.29 = 48,851 ÷ 167,460
Dec 31, 2014 0.29 = 49,605 ÷ 169,274
Dec 31, 2013 0.30 = 51,584 ÷ 172,101
Dec 31, 2012 0.32 = 58,986 ÷ 185,798
Dec 31, 2011 0.36 = 67,425 ÷ 188,002
Dec 31, 2010 0.35 = 67,809 ÷ 195,014
Dec 31, 2009 0.23 = 50,009 ÷ 212,949
Dec 31, 2008 0.43 = 48,296 ÷ 111,148
Dec 31, 2007 0.42 = 48,418 ÷ 115,268
Dec 31, 2006 0.42 = 48,371 ÷ 114,837
Dec 31, 2005 0.44 = 51,298 ÷ 117,565

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The total asset turnover ratio for the period examined demonstrates considerable fluctuation. Initially, the ratio exhibited relative stability, followed by a period of decline, and then a resurgence before concluding with a renewed decrease. This analysis details these observed patterns.

Initial Stability (2005-2008)
From 2005 to 2008, the total asset turnover ratio remained relatively consistent, fluctuating between 0.42 and 0.44. This suggests a stable relationship between revenue generated and the assets employed during this timeframe. There were no significant shifts in the efficiency with which assets were utilized to generate sales.
Significant Decline (2009-2013)
A marked decline in the ratio is observed between 2009 and 2013. The ratio decreased from 0.23 in 2009 to a low of 0.29 in 2013. This indicates a decreasing efficiency in asset utilization. The company generated less revenue for each dollar of assets invested during this period. The substantial increase in total assets in 2009 likely contributed to this decline, as revenue did not increase proportionally.
Modest Recovery (2014-2018)
From 2014 to 2018, the ratio experienced a modest recovery, rising from 0.29 to 0.34. While an improvement, the ratio remained below the levels observed prior to 2009. This suggests some improvement in asset utilization efficiency, but not a return to previous performance levels. The relative stability in total assets during this period likely facilitated this improvement.
Recent Volatility (2019-2025)
The period from 2019 to 2025 demonstrates significant volatility. The ratio decreased to 0.28 in 2020, then increased substantially to 0.51 in 2021, before declining again to 0.30 in 2022 and remaining at 0.30 in 2023. The ratio then decreased to 0.26 in 2024 and 0.30 in 2025. The large increase in revenue in 2021, coupled with a corresponding increase in total assets, drove the ratio higher. The subsequent decline suggests a potential weakening in the relationship between asset investment and revenue generation, or a faster growth in assets compared to revenue.

Overall, the total asset turnover ratio indicates a shift in the company’s asset utilization efficiency over the analyzed period. While initial stability was observed, a prolonged period of decline followed, with recent years characterized by increased volatility. Further investigation into the factors driving these fluctuations, such as changes in asset composition, industry dynamics, and strategic initiatives, would be beneficial.

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Comparison to Competitors

Pfizer Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Pfizer Inc. AbbVie Inc. Amgen Inc. Bristol-Myers Squibb Co. Danaher Corp. Eli Lilly & Co. Gilead Sciences Inc. Johnson & Johnson Merck & Co. Inc. Regeneron Pharmaceuticals Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
Dec 31, 2025 0.30 0.46 0.39 0.54 0.29 0.58 0.49 0.47 0.47 0.35 0.40 0.47
Dec 31, 2024 0.30 0.42 0.35 0.52 0.31 0.57 0.48 0.49 0.55 0.38 0.44 0.49
Dec 31, 2023 0.26 0.40 0.28 0.47 0.28 0.53 0.43 0.51 0.56 0.40 0.43 0.43
Dec 31, 2022 0.51 0.42 0.38 0.48 0.37 0.58 0.43 0.51 0.54 0.42 0.46 0.49
Dec 31, 2021 0.45 0.38 0.40 0.42 0.35 0.58 0.40 0.52 0.46 0.63 0.41 0.56
Dec 31, 2020 0.28 0.30 0.39 0.36 0.29 0.53 0.36 0.47 0.52 0.50 0.47 0.53
Dec 31, 2019 0.31 0.37 0.37 0.20 0.29 0.57 0.36 0.52 0.55 0.53 0.44 0.50
Dec 31, 2018 0.34 0.55 0.34 0.64 0.42 0.56 0.34 0.53 0.51 0.57 0.43 0.49
Dec 31, 2017 0.31 0.40 0.27 0.62 0.39 0.51 0.37 0.49 0.46 0.67 0.37 0.70
Dec 31, 2016 0.31 0.39 0.28 0.58 0.37 0.55 0.53 0.51 0.42 0.70 0.40 0.59
Dec 31, 2015 0.29 0.43 0.29 0.52 0.43 0.56 0.62 0.53 0.39 0.73 0.41 0.41
Dec 31, 2014 0.29 0.72 0.28 0.47 0.54 0.53 0.71 0.57 0.43 0.73 0.39 0.25
Dec 31, 2013 0.30 0.64 0.28 0.42 0.55 0.66 0.48 0.54 0.42 0.71 0.41 0.52
Dec 31, 2012 0.32 0.68 0.31 0.49 0.55 0.66 0.44 0.55 0.45 0.66 0.46 0.55
Dec 31, 2011 0.36 — 0.31 0.64 0.54 0.72 0.47 0.57 0.46 0.34 0.44 0.64
Dec 31, 2010 0.35 — 0.34 0.63 0.59 0.74 0.64 0.60 0.43 0.42 0.51 0.08
Dec 31, 2009 0.23 — 0.36 0.61 0.57 0.80 0.67 0.65 0.24 0.51 0.47 0.05
Dec 31, 2008 0.43 — 0.40 0.70 0.73 0.70 0.72 0.75 0.51 0.36 0.50 0.18
Dec 31, 2007 0.42 — 0.41 0.74 0.63 0.70 0.64 0.75 0.50 0.13 0.46 0.33
Dec 31, 2006 0.42 — 0.41 0.70 0.75 0.71 0.63 0.76 0.51 0.11 0.18 0.23
Dec 31, 2005 0.44 — 0.41 0.68 0.87 0.60 0.48 0.87 0.49 0.16 0.62 0.29

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Pfizer Inc., total asset turnover, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Pfizer Inc. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2025 0.30 0.43
Dec 31, 2024 0.30 0.43
Dec 31, 2023 0.26 0.40
Dec 31, 2022 0.51 0.47
Dec 31, 2021 0.45 0.45
Dec 31, 2020 0.28 0.39
Dec 31, 2019 0.31 0.39
Dec 31, 2018 0.34 0.45
Dec 31, 2017 0.31 0.40
Dec 31, 2016 0.31 0.41
Dec 31, 2015 0.29 0.42
Dec 31, 2014 0.29 0.44
Dec 31, 2013 0.30 0.43
Dec 31, 2012 0.32 0.45
Dec 31, 2011 0.36 0.47
Dec 31, 2010 0.35 0.47
Dec 31, 2009 0.23 0.39
Dec 31, 2008 0.43 0.57
Dec 31, 2007 0.42 0.56
Dec 31, 2006 0.42 0.54
Dec 31, 2005 0.44 0.57

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Health Care)

Pfizer Inc., total asset turnover, long-term trends, comparison to industry (health care)

Microsoft Excel
Pfizer Inc. Health Care
Dec 31, 2025 0.30 0.67
Dec 31, 2024 0.30 0.65
Dec 31, 2023 0.26 0.63
Dec 31, 2022 0.51 0.66
Dec 31, 2021 0.45 0.62
Dec 31, 2020 0.28 0.57
Dec 31, 2019 0.31 0.57
Dec 31, 2018 0.34 0.63
Dec 31, 2017 0.31 0.56
Dec 31, 2016 0.31 0.57
Dec 31, 2015 0.29 0.55
Dec 31, 2014 0.29 0.60
Dec 31, 2013 0.30 0.58
Dec 31, 2012 0.32 0.58
Dec 31, 2011 0.36 0.61
Dec 31, 2010 0.35 0.61
Dec 31, 2009 0.23 0.55
Dec 31, 2008 0.43 0.73
Dec 31, 2007 0.42 0.71
Dec 31, 2006 0.42 0.69
Dec 31, 2005 0.44 0.66

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).