Pfizer Limited (PFIZER.NS) 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

+23.1%

₹4,536.81

vs ₹3,686.60 price

Levered DCF

₹4,330.94

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	29.89×	24.05×	36.91×	25.42×	32.48×	41.6×	36.15×	35.28×
P/B	5.14×	4.38×	5.66×	4.95×	6.94×	8.65×	5.42×	5.03×
P/S	8.57×	8.09×	9.28×	6.54×	7.62×	9.24×	8.55×	7.27×
EV / EBITDA	20.68×	24.34×	31.8×	19.7×	23.88×	28.92×	28.69×	26.25×
Gross margin	48.0%	64.2%	63.6%	63.8%	63.5%	64.2%	62.9%	63.8%
Operating margin	33.6%	45.4%	43.8%	47.6%	45.2%	45.1%	41.8%	42.6%
Net margin	28.7%	33.6%	25.1%	25.7%	23.5%	22.2%	23.7%	20.6%
Current ratio	6.06×	6.17×	5.07×	3.84×	2.81×	2.46×	3.49×	3.05×
Debt / equity	0.02×	0.03×	0.03×	0.04×	0.06×	0.04×	0.04×	0×
Interest coverage	89.28×	121.96×	62.29×	86.14×	110.26×	65.69×	82.96×	687.37×
Dividend yield	3.5%	0.9%	0.9%	1.9%	0.8%	7.3%	8.3%	0.6%
Payout ratio	104.0%	20.9%	33.3%	47.6%	26.1%	305.3%	298.4%	21.2%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	17.2%	18.2%	15.3%	19.5%	21.4%	20.8%	15.0%	14.2%
Return on invested capital	14.5%	17.9%	19.1%	25.8%	30.3%	29.4%	20.0%	18.9%
Return on assets	14.7%	15.6%	13.0%	15.6%	15.7%	15.2%	11.6%	10.9%
Free cash flow yield	5.2%	3.4%	1.2%	1.8%	3.3%	2.0%	1.7%	0.6%
Earnings yield	3.3%	4.2%	2.7%	3.9%	3.1%	2.4%	2.8%	2.8%
Enterprise value	₹215.6B	₹180.6B	₹203.3B	₹159.6B	₹200B	₹206.5B	₹167.7B	₹150.7B
Net debt / EBITDA	-0.03×	-0.55×	-0.03×	0.12×	0.12×	-0.07×	-2.8×	-0.12×
Cash conversion cycle (days)	98	176	154	126	86	114	56	34