Stock Analysis on Net
Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Price to FCFE (P/FCFE) 

Microsoft Excel

Free Cash Flow to Equity (FCFE)

Pfizer Inc., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income attributable to Pfizer Inc. common shareholders 8,031 2,119 31,372 21,979 9,616
Net income attributable to noncontrolling interests 31 39 35 46 36
Net noncash charges 7,748 8,714 3,499 (1,907) 1,209
Other changes in assets and liabilities, net of acquisitions and divestitures (3,066) (2,172) (5,639) 12,804 (275)
Net cash provided by operating activities 12,744 8,700 29,267 32,922 10,586
Purchases of property, plant and equipment (2,909) (3,907) (3,236) (2,711) (2,252)
Proceeds from short-term borrowings 8,907 4,525 3,891 — 12,352
Payments on short-term borrowings (11,226) (3) (3,887) — (22,197)
Net proceeds from (payments on) short-term borrowings with original maturities of three months or less (2,590) 3,161 (222) (96) (4,129)
Proceeds from issuances of long-term debt — 30,831 — 997 5,222
Payments on long-term debt (2,250) (2,569) (3,298) (2,004) (4,003)
Free cash flow to equity (FCFE) 2,676 40,738 22,515 29,108 (4,421)

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).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Pfizer Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Pfizer Inc. FCFE increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Price to FCFE Ratio, Current

Pfizer Inc., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 5,667,340,414
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions) 2,676
FCFE per share 0.47
Current share price (P) 24.70
Valuation Ratio
P/FCFE 52.31
Benchmarks
P/FCFE, Competitors1
AbbVie Inc. 14.44
Amgen Inc. 26.77
Bristol-Myers Squibb Co. 5.03
Danaher Corp. 40.28
Eli Lilly & Co. 61.27
Gilead Sciences Inc. 11.81
Johnson & Johnson 12.51
Merck & Co. Inc. 10.72
Regeneron Pharmaceuticals Inc. 18.56
Thermo Fisher Scientific Inc. 37.49
Vertex Pharmaceuticals Inc. —
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 19.56
P/FCFE, Industry
Health Care 18.20

Based on: 10-K (reporting date: 2024-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Pfizer Inc., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 5,667,340,414 5,646,778,425 5,619,074,621 5,623,346,471 5,577,629,491
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2 2,676 40,738 22,515 29,108 (4,421)
FCFE per share3 0.47 7.21 4.01 5.18 -0.79
Share price1, 4 26.10 27.55 42.30 45.96 33.82
Valuation Ratio
P/FCFE5 55.28 3.82 10.56 8.88 —
Benchmarks
P/FCFE, Competitors6
AbbVie Inc. 13.57 17.37 22.66 18.76 13.16
Amgen Inc. 25.50 4.71 8.32 13.52 11.06
Bristol-Myers Squibb Co. 4.74 7.52 22.85 16.17 7.80
Danaher Corp. 40.83 53.08 32.04 20.75 44.62
Eli Lilly & Co. 64.93 75.06 60.51 35.17 36.62
Gilead Sciences Inc. 12.07 12.81 15.22 12.70 5.98
Johnson & Johnson 12.67 24.31 16.73 23.28 15.60
Merck & Co. Inc. 11.32 24.48 22.40 18.72 17.85
Regeneron Pharmaceuticals Inc. 21.27 26.52 19.29 10.35 13.30
Thermo Fisher Scientific Inc. 41.23 31.16 27.98 13.44 18.58
Vertex Pharmaceuticals Inc. — 33.45 19.91 26.08 18.46
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 19.99 16.91 19.28 16.49 17.09
P/FCFE, Industry
Health Care 18.23 16.85 18.12 17.81 17.23

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 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 2,676,000,000 ÷ 5,667,340,414 = 0.47

4 Closing price as at the filing date of Pfizer Inc. Annual Report.

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 26.10 ÷ 0.47 = 55.28

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Pfizer Inc. P/FCFE ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.