Pfizer Inc. (PFE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+19.3%

$36.58

vs $30.67 price

Levered DCF

$25.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.16

Grey zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	18.31×	18.68×	76.67×	9.16×	14.93×	22.33×	12.71×	21.79×
P/B	1.64×	1.7×	1.83×	3×	4.28×	3.23×	3.28×	3.83×
P/S	2.26×	2.36×	2.73×	2.84×	4.07×	4.91×	5.06×	5.95×
EV / EBITDA	12.38×	11.93×	24.11×	7.84×	11.88×	18.17×	13.76×	25.64×
Gross margin	74.3%	71.9%	58.1%	66.1%	62.1%	79.6%	80.3%	78.0%
Operating margin	27.8%	23.5%	7.4%	37.7%	24.9%	21.2%	17.9%	16.5%
Net margin	12.4%	12.6%	3.6%	31.0%	27.0%	22.0%	39.2%	27.3%
Current ratio	1.16×	1.17×	0.91×	1.22×	1.4×	1.35×	0.88×	1.57×
Debt / equity	0.78×	0.76×	0.8×	0.36×	0.48×	0.61×	0.81×	0.66×
Interest coverage	6.52×	4.83×	2×	30.79×	15.67×	6.09×	4.65×	5.11×
Dividend yield	6.9%	6.3%	5.7%	3.1%	2.6%	4.1%	3.9%	3.3%
Payout ratio	125.7%	118.4%	436.4%	28.6%	39.7%	92.1%	50.2%	71.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	9.1%	2.4%	32.8%	28.5%	14.5%	25.4%	17.6%
Return on invested capital	10.0%	8.4%	2.3%	21.8%	13.3%	6.4%	4.7%	4.9%
Return on assets	3.7%	3.8%	0.9%	15.9%	12.1%	5.9%	9.6%	7.0%
Free cash flow yield	6.4%	6.5%	3.0%	9.1%	9.0%	5.7%	4.8%	5.6%
Earnings yield	5.5%	5.3%	1.3%	10.9%	6.6%	4.5%	7.7%	4.6%
Enterprise value	$207.8B	$216.2B	$230.5B	$321.8B	$365.8B	$241B	$256.6B	$283.6B
Net debt / EBITDA	3.95×	3.64×	7.11×	0.84×	1.14×	2.75×	2.67×	3.67×
Cash conversion cycle (days)	215	191	146	75	112	260	229	217