Pfizer Inc. (PFE)财务
NYSE · Healthcare · Drug Manufacturers - General · 员工75,000人 · CEO Albert Bourla
- 股价
- $30.52 +1.90%
- 市值
- $1740亿
- 企业价值
- $2360亿
- 最近财报
- Q2 '26 2026-08-04提交
- 下次财报
- 2026-11-03 EPS预期 $0.73
营收(TTM)$637亿-0.2% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)26.7%+0.6 百分点 对比去年同期营业利润 $170亿
净利润(TTM)$43.3亿-59.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)$110亿-11.7% 对比去年同期资本支出 $24.2亿
稀释EPS(TTM)$0.76-59.9% 对比去年同期最近4个季度之和
净现金-$515亿-6.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1740亿 EV $2360亿
- 营收
- $637亿 过去12个月
- 营收增速
- -1% FY2026年一致预期
- 净利润率
- 6.8% 净利润 / 营收,TTM
- P/E
- 40.3× 预期 10.3×(FY2026)
- P/S
- 2.7× 股价 / 营收,TTM
- EV / EBITDA
- 17.5× TTM
- 自由现金流
- $110亿 过去12个月
- 净利润
- $43.3亿 过去12个月
- 营收预期
- $622亿 FY2026年一致预期
- 盈利
- 2026-11-03 营收预期 $159亿
- 股息
- $1.72 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-04):营收超预期4.4%,EPS 超预期12.9%营收$150亿,预期$144亿(+4.4%);EPS $0.77,预期$0.68(+12.9%)。
- 营收增长平稳:同比2.6%Q2 '26营收$150亿,此前四个季度的平均值为2.1%。
- 营业利润率26.7%(TTM),较去年同期+0.6 百分点营收增长-0.2%,营业利润增长2.2%。
- 税前利润的304.3%被营业外亏损吞噬税前利润$42.1亿,营业利润$170亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的3.8%(去年为4.3%)最近4个季度投入$24.2亿(同比-12.1%)。自由现金流$110亿,相当于净利润的253.6%。
- 股东回报$97.9亿 = 自由现金流的89.1%回购$0(去年为$0),股息$97.9亿,股权激励$9.47亿(TTM)。
- 稀释股数一年内减少0.1%Q2 '26稀释股数57亿,一年前为57.1亿。
- 净债务 $515亿现金 + 短期投资 $117亿,含租赁债务 $632亿;一年前净债务 $485亿。
上一季度:Q2 '26
截至2026-06-28的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $150亿 | $147亿 | +2.6% |
| 毛利率 | 72.8% | 74.2% | -1.4 百分点 |
| 营业利润 | $35.4亿 | $37.7亿 | -6.1% |
| 营业利润率 | 23.5% | 25.7% | -2.2 百分点 |
| 净利润 | -$2.48亿 | $29.1亿 | -108.5% |
| 稀释EPS | -$0.04 | $0.51 | -108.5% |
| 经营现金流 | $8.35亿 | -$5.82亿 | +243.5% |
| 资本支出 | $5.33亿 | $6.18亿 | -13.8% |
| 自由现金流 | $3.02亿 | -$12亿 | +125.2% |
| R&D | $28.1亿 | $24.8亿 | +13.2% |
| 股权激励费用 | $2.49亿 | $2.03亿 | +22.7% |
实际 vs 一致预期
2026-08-04| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $150亿 | $144亿 | +4.4% |
| EPS(一致预期口径) | $0.77 | $0.68 | +12.9% |
来自2026-08-04发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Biopharma Segment | $147亿 | +2.5% | 97.5% | $757亿 | – | |
| Segment Reporting, Reconciling Item, Corporate Nonsegment | $3.73亿 | +7.2% | 2.5% | $16.9亿 | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $88.6亿 | -0.4% | 58.9% | $458亿 | – | |
| Developed Rest Of World | $37.4亿 | +10.3% | 24.9% | $200亿 | – | |
| Emerging Markets | $24.3亿 | +2.9% | 16.2% | $117亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $134亿
- 资本支出
- -$24.2亿
- 股票回购
- $0
- 股息
- -$97.9亿
- 收购
- -$69.3亿
- 债务净发行
- $17.8亿
- 股权激励费用
- $9.47亿
- 自由现金流
- $110亿
- 股东回报 / FCF
- 89.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 40.3× | 27.6× | 9.2× – 76.7× |
| EV / EBITDA | 17.5× | 13.6× | 7.8× – 24.1× |
| EV / 营收 | 3.7× | 3.7× | 3.2× – 4.5× |
| 股价 / FCF | 15.8× | 17.4× | 11.0× – 33.9× |
| 股价 / 净资产 | 2.0× | 2.5× | 1.6× – 4.3× |
| FCF收益率 | 6.3% | 6.8% | 3.0% – 9.1% |
| 投入资本回报率 | 9.9% | 11.2% | 2.3% – 21.8% |
| 净资产收益率 | 4.9% | 16.3% | 2.4% – 32.8% |
分析师
一致目标价 $29.17 (-4.4%)
区间 $26.00 – $33.00 · 评级 Hold
强烈买入0
买入16
持有23
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $622亿 | -0.5% | $2.96 | +117.3% | 10.3× | 13 |
| FY2027 | $598亿 | -3.9% | $2.90 | -2.0% | 10.5× | 13 |
| FY2028 | $548亿 | -8.5% | $2.48 | -14.3% | 12.3× | 7 |
| FY2029 | $530亿 | -3.3% | $2.36 | -4.8% | 12.9× | 2 |
| FY2030 | $533亿 | +0.7% | $2.46 | +3.9% | 12.4× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Pfizer Inc.在近期10-Q / 10-K文件中标记的全部337项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $45.8亿 | $51.7亿 | -11.3% | $52.4亿 | $56.3亿 | -7.0% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $125亿 | $121亿 | +3.4% | $119亿 | $115亿 | +3.6% |
| Accounts Receivable, Allowance for Credit Loss, Current | $4.23亿 | $4.39亿 | -3.6% | $4.27亿 | $4.38亿 | -2.5% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $181亿 | $173亿 | +4.8% | $174亿 | $165亿 | +5.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$72.2亿 | -$84.4亿 | +14.5% | -$80.7亿 | -$78.4亿 | -2.9% |
| Additional Paid in Capital | $950亿 | $941亿 | +1.0% | $945亿 | $936亿 | +0.9% |
| Advertising Expense | – | – | – | $27亿 | $33亿 | -18.2% |
| Amortization of Intangible Assets | $12亿2025-09-28 | $13亿 | -7.7% | $53亿2024-12-31 | $47亿 | +12.8% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4500万 | 800万 | +462.5% | 1100万 | 2400万 | -54.2% |
| Asset Impairment Charges | $43.3亿 | $9300万 | +4,550.5% | $49.4亿 | $33亿 | +49.9% |
| Assets | $2010亿 | $2060亿 | -2.4% | $2080亿 | $2130亿 | -2.5% |
| Assets, Current | $414亿 | $437亿 | -5.4% | $429亿 | $504亿 | -14.8% |
| Assets, Fair Value Disclosure | $112亿 | – | – | $140亿 | $224亿 | -37.6% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $2.55亿 | $3400万 | +650.0% | $2.07亿2018-12-31 | – | – |
| Business Combination, Contingent Consideration, Liability | $18亿2025-12-31 | $5.17亿 | +248.2% | $18亿 | $5.17亿 | +248.2% |
| Business Combination, Contingent Consideration, Liability, Current | $9600万 | – | – | $9500万 | $3900万 | +143.6% |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $21.6亿 | – | – | $17亿 | $4.77亿 | +255.3% |
| Business Combination, Integration Related Costs | $3800万 | $5600万 | -32.1% | $3.4亿 | $4.27亿 | -20.4% |
| Business Exit Costs | $1000万 | $3000万 | -66.7% | $5900万 | $4.03亿 | -85.4% |
| Cash and Cash Equivalents, at Carrying Value | $9.76亿 | $16.4亿 | -40.4% | $11.4亿 | $10.4亿 | +9.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $10.3亿 | $16.9亿 | -39.0% | $12亿 | $11.1亿 | +8.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$7.27亿 | $2.13亿 | -441.3% | $9100万 | -$18.1亿 | +105.0% |
| Collateral Already Posted, Aggregate Fair Value | $9.35亿 | $11亿 | -15.0% | $9.44亿 | $7.2亿 | +31.1% |
| Commercial Paper | $02025-12-31 | $24.5亿 | -100.0% | $0 | $24.5亿 | -100.0% |
| Common Stock, Dividends, Per Share, Declared | $0.86 | $0.86 | 0.0% | $1.72 | $1.69 | +1.8% |
| Common Stock, Par or Stated Value Per Share | $0.052025-12-31 | $0.05 | 0.0% | $0.05 | $0.05 | 0.0% |
| Common Stock, Shares Authorized | 120亿2025-12-31 | 120亿 | 0.0% | 120亿 | 120亿 | 0.0% |
| Common Stock, Shares, Issued | 96.2亿2025-12-31 | 95.9亿 | +0.3% | 96.2亿 | 95.9亿 | +0.3% |
| Common Stock, Value, Issued | $4.82亿 | $4.81亿 | +0.2% | $4.81亿 | $4.8亿 | +0.2% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$100万 | $1800万 | -105.6% | $2900万 | $2800万 | +3.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$2.63亿 | $30.5亿 | -108.6% | $75.4亿 | $81.5亿 | -7.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$2.64亿 | $30.7亿 | -108.6% | $75.7亿 | $81.8亿 | -7.4% |
| Contract with Customer, Liability, Current | $7.84亿2025-12-31 | $15.1亿 | -48.1% | $7.84亿 | $15.1亿 | -48.1% |
| Cost of Goods and Services Sold | $40.9亿 | $37.8亿 | +8.3% | $161亿 | $179亿 | -10.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $3.84亿 | $4.53亿 | -15.2% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $13.1亿 | $15.9亿 | -17.5% |
| Current Income Tax Expense (Benefit) | – | – | – | $18.7亿 | $20.7亿 | -10.0% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.72亿 | $3200万 | +437.5% |
| Debt Instrument, Interest Rate, Effective Percentage | – | – | – | 4.9%2023-05-31 | – | – |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $200万 | $400万 | -50.0% | $300万 | $1200万 | -75.0% |
| Debt Securities, Available-for-sale and Held-to-maturity | $91.4亿 | $104亿 | -11.8% | $99.1亿 | $118亿 | -16.2% |
| Debt Securities, Available-for-sale, Current | $72.8亿 | $95.3亿 | -23.6% | $91.8亿 | $109亿 | -15.6% |
| Debt Securities, Available-for-sale, Noncurrent | $0 | $100万 | -100.0% | $100万 | $0 | – |
| Debt Securities, Held-to-maturity, Current | $18.1亿 | $3.99亿 | +353.9% | $6.75亿 | $7.05亿 | -4.3% |
| Debt Securities, Held-to-maturity, Noncurrent | $4900万 | $4800万 | +2.1% | $4800万 | $4500万 | +6.7% |
| Debt, Current | $27亿 | $43亿 | -37.2% | $31.5亿 | $69.5亿 | -54.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$18.3亿 | -$19.1亿 | +4.3% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$2.46亿 | $1亿 | -346.0% |
| Deferred Income Tax Expense (Benefit) | -$13.2亿 | -$2.72亿 | -385.3% | -$21.3亿 | -$21亿 | -1.5% |
| Deferred Income Tax Liabilities, Net | $19.6亿 | $24.8亿 | -20.8% | $24亿 | $21.2亿 | +13.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$6100万 | -$2.93亿 | +79.2% |
| Deferred Tax Assets, Equity Method Investments | $2.34亿2025-12-31 | $7300万 | +220.5% | $2.34亿 | $7300万 | +220.5% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $18.2亿2025-12-31 | $14.4亿 | +26.9% | $18.2亿 | $14.4亿 | +26.9% |
| Deferred Tax Assets, Gross | $185亿2025-12-31 | $191亿 | -3.0% | $185亿 | $191亿 | -3.0% |
| Deferred Tax Assets, in Process Research and Development | $72.4亿2025-12-31 | $76.4亿 | -5.2% | $72.4亿 | $76.4亿 | -5.2% |
| Deferred Tax Assets, Inventory | $8.64亿2025-12-31 | $9.92亿 | -12.9% | $8.64亿 | $9.92亿 | -12.9% |
| Deferred Tax Assets, Net | $50.3亿2025-12-31 | $44.5亿 | +13.1% | $50.3亿 | $44.5亿 | +13.1% |
| Deferred Tax Assets, Net of Valuation Allowance | $170亿2025-12-31 | $175亿 | -2.7% | $170亿 | $175亿 | -2.7% |
| Deferred Tax Assets, Other | $2300万2025-12-31 | $8700万 | -73.6% | $2300万 | $8700万 | -73.6% |
| Deferred Tax Assets, Property, Plant and Equipment | $2.49亿2025-12-31 | $2.65亿 | -6.0% | $2.49亿 | $2.65亿 | -6.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-28, 10-Q 2026-03-29, 10-K 2025-12-31, 10-Q 2025-09-28, 10-Q 2025-06-29, 10-Q 2025-03-30, 10-K 2024-12-31, 10-Q 2024-09-29, 10-Q 2024-06-30
数据截至 2026-11-01