Enterprise Value (EV)
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Pfizer Inc. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
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Current Enterprise Value (EV)
Pfizer Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Equity attributable to noncontrolling interests (per books) | |
| Total equity | |
| Add: Short-term borrowings, including current portion of long-term debt (per books) | |
| Add: Long-term debt, excluding current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Pfizer Inc., EV calculation
Based on: 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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Pfizer Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Common equity (market value)
- The common equity market value exhibited a notable increase from 188,635 million US dollars in 2020 to a peak of 258,449 million US dollars in 2021. Following this peak, there is a declining trend over the next three years, with values decreasing to 237,687 million in 2022, then sharply down to 155,569 million in 2023, and further to 147,918 million in 2024.
- Total equity
- Total equity mirrored the pattern of common equity, increasing from 188,870 million US dollars in 2020 to 258,710 million in 2021. After this peak, total equity similarly declined to 237,942 million in 2022, then more significantly to 155,843 million in 2023, and decreased slightly further to 148,212 million in 2024. The close relationship between common equity and total equity suggests consistency in equity valuation components.
- Total equity and debt
- The combined figure for total equity and debt increased from 228,706 million US dollars in 2020 to a high of 297,146 million in 2021. This was followed by a decline to 273,771 million in 2022, then a more pronounced drop to 227,731 million in 2023, and a continued decrease to 212,563 million in 2024. This pattern indicates a reduction in the company's capital structure size over the recent years after an initial strong increase.
- Enterprise value (EV)
- Enterprise value increased from 216,485 million US dollars in 2020 to 266,077 million in 2021, signaling a peak in market valuation. Post-2021, EV declined steadily to 251,039 million in 2022, then down to 215,041 million in 2023, and further reduced to 192,086 million in 2024. This trend reflects a contraction in the overall valuation of the company when considering debt and equity combined.
Overall, the data demonstrate that the company experienced a significant surge in equity valuation and capital size in 2021 across all reported measures. Subsequent years show a consistent downward trend in these figures, indicating a contraction in market valuation, equity, and overall capital deployment. The declines are particularly steep between 2022 and 2024, suggesting possible market or operational challenges affecting the company’s financial standing during this period.