← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Pfizer is absorbing shrinking COVID-19 revenue ahead of a wave of patent expiries: revenue fell 1.6% to $62.58B, and free cash flow of $9.07B did not cover $9.77B of dividends
The read at a glance✓ Audited against SEC data
- Growth — Revenue down 1.6% to $62.58BWatch
- Profitability — Net income down 3.2% to $7.77B; gross margin up 239 bpsNote
- Cash flow — Free cash flow down 7.7% to $9.07B, below $9.77B of dividendsWatch
- Balance sheet — Total debt flat, up 0.7% to $64.80B; no buybacks in 2025Note
- Accounting quality — Financial-strength, manipulation and earnings-quality screens all cleanOK
- Patent cliff — Filing expects a significant revenue reduction from exclusivity losses in 2026 through 2030Watch
Business
Pfizer is a research-based, global biopharmaceutical company that discovers, develops, makes and sells medicines and vaccines in about 200 countries and territories. Almost all revenue comes from its Biopharma segment, which sells across primary care (including Eliquis, the Prevnar family, Comirnaty and Paxlovid), specialty care, oncology and, from 2026, a new hospital and biosimilars organization.
Where the revenue comes from
Fiscal 2025, as PFIZER INC reports it. History and quarterly detail are in the app.
- Excluding Comirnaty and Paxlovid$54.5B
- Product$51.7B
- Primary Care$26.8B
- Specialty Care$17.5B
- Oncology$16.8B
Leadership changes
From PFIZER INC's own filings, the day they're filed.
- Cecile Guegan · Chief Financial Officer · departureeff. 2026-08-16
- Dave Denton · Chief Financial Officer · departureeff. 2026-08-15
- Mortimer J. Buckley · Directors · appointmenteff. 2024-10-10
Latest filings
- 8-K · Company announcement2026-08-04
- 10-Q · Quarterly report2026-08-04
- 8-K · Company announcement2026-06-18
- 8-K · Company announcement2026-06-18
- 8-K · Company announcement2026-05-05
In the full recordFree for 14 days
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Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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