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U.S. Pharma Industry Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies319
  • 7D-1.3%
  • 3M7.4%
  • 1Y25.5%
  • YTD4.4%

Over the last 7 days, the Pharma industry has dropped 1.3%, driven by Eli Lilly declining 2.9%. This takes the industry's 12 month performance to a gain of 25%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

Has the U.S. Pharma Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026US$2.4tUS$411.5bUS$73.9b19.6x32x5.7x
Wed, 21 Jan 2026US$2.3tUS$402.6bUS$71.5b20.5x31.7x5.6x
Fri, 19 Dec 2025US$2.2tUS$402.8bUS$71.4b20x30.9x5.5x
Sun, 16 Nov 2025US$2.1tUS$402.8bUS$71.4b18.8x29.5x5.2x
Tue, 14 Oct 2025US$1.9tUS$387.6bUS$61.0b17.9x31x4.9x
Thu, 11 Sep 2025US$1.8tUS$387.9bUS$60.9b18.8x29.4x4.6x
Sat, 09 Aug 2025US$1.6tUS$387.9bUS$60.6b18.4x27.1x4.2x
Mon, 07 Jul 2025US$1.7tUS$382.7bUS$61.3b18.3x28.5x4.6x
Wed, 04 Jun 2025US$1.7tUS$382.7bUS$61.2b17.9x27.7x4.4x
Fri, 02 May 2025US$1.8tUS$378.6bUS$63.0b17x29.3x4.9x
Sun, 30 Mar 2025US$1.8tUS$380.7bUS$41.2b15.2x44.8x4.8x
Tue, 25 Feb 2025US$1.9tUS$381.1bUS$39.0b18.8x48.6x5x
Thu, 23 Jan 2025US$1.8tUS$369.3bUS$31.2b18.6x56.7x4.8x
Sat, 21 Dec 2024US$1.8tUS$369.4bUS$31.1b16.7x56.8x4.8x
Mon, 18 Nov 2024US$1.8tUS$373.9bUS$30.5b19.1x58.4x4.8x
Wed, 16 Oct 2024US$2.0tUS$365.3bUS$23.7b18.5x85.7x5.6x
Fri, 13 Sep 2024US$2.0tUS$364.2bUS$25.5b18.5x79.5x5.6x
Sun, 11 Aug 2024US$2.0tUS$362.1bUS$22.0b17.1x89.6x5.4x
Tue, 09 Jul 2024US$2.0tUS$357.6bUS$13.8b15.4x141.8x5.5x
Thu, 06 Jun 2024US$1.9tUS$358.3bUS$14.1b15.6x135.7x5.3x
Sat, 04 May 2024US$1.8tUS$358.0bUS$13.8b21.4x131x5.1x
Mon, 01 Apr 2024US$1.9tUS$355.2bUS$22.7b22.7x84.2x5.4x
Wed, 28 Feb 2024US$1.9tUS$355.2bUS$23.8b24.4x80.1x5.4x
Fri, 26 Jan 2024US$1.8tUS$375.2bUS$33.9b26x51.8x4.7x
Sun, 24 Dec 2023US$1.7tUS$375.2bUS$33.9b26.7x49.3x4.4x
Tue, 21 Nov 2023US$1.6tUS$375.1bUS$33.9b25.8x48.1x4.4x
Thu, 19 Oct 2023US$1.7tUS$382.7bUS$44.7b17.6x37.5x4.4x
Sat, 16 Sep 2023US$1.8tUS$381.8bUS$43.9b18x39.9x4.6x
Mon, 14 Aug 2023US$1.8tUS$381.5bUS$43.9b18.7x40.2x4.6x
Wed, 12 Jul 2023US$1.7tUS$392.8bUS$60.2b18.4x27.5x4.2x
Fri, 09 Jun 2023US$1.7tUS$393.0bUS$60.5b18.8x28.5x4.4x
Sun, 07 May 2023US$1.7tUS$393.0bUS$59.5b19.4x28.9x4.4x
Tue, 04 Apr 2023US$1.6tUS$401.2bUS$69.4b15.9x23.1x4x
Thu, 02 Mar 2023US$1.5tUS$401.2bUS$69.8b18.2x22.2x3.9x
Price to Earnings Ratio

22.2x


Total Market Cap: US$1.5tTotal Earnings: US$69.8bTotal Revenue: US$401.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Pharma Industry Price to Earnings3Y Average 53.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Pharmaceuticals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 32.0x which is lower than its 3-year average PE of 53.3x.
  • The 3-year average PS ratio of 4.8x is lower than the industry's current PS ratio of 5.7x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have grown 2.0% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market1.04%
Healthcare0.19%
Pharma-1.30%
Pharma-1.30%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MRK MerckUS$122.260.7%
+US$2.1b		36.6%PE16.6x
ZTS ZoetisUS$128.781.7%
+US$899.1m		-19.7%PE20.3x
JAZZ Jazz PharmaceuticalsUS$172.193.5%
+US$357.3m		26.6%PS2.5x
TEVA Teva Pharmaceutical IndustriesUS$34.220.7%
+US$279.5m		104.4%PE28.3x
TARS Tarsus PharmaceuticalsUS$66.619.6%
+US$247.5m		39.2%PS7.7x

Latest News

PFE
US$26.65
Pfizer
7D
-3.4%
1Y
1.3%

PFE: Obesity Pipeline Progress Will Drive Post LOE Re Rating

Pfizer's updated analyst price target edges lower to about $35 per share. This reflects analysts' focus on ongoing losses of exclusivity, a slightly softer revenue and margin outlook, and tempered expectations for future P/E as some firms initiate or assume coverage with more cautious views around the next few years.
JNJ
US$242.49
Johnson & Johnson
7D
-0.4%
1Y
49.4%
JAZZ
US$172.19
Jazz Pharmaceuticals
7D
3.5%
1Y
26.6%

Beyond the Patent Cliff: Unlocking the Cash Machine

Jazz Pharmaceuticals (JAZZ), headquartered in Dublin, Ireland, enters 2026 as a highly efficient cash generator that the broader market seems to continually misunderstand. Following a massive 41% earnings beat late last year, the company is proving that it is successfully navigating the transition away from its legacy reliance on the sleep disorder drug Xyrem.
CORT
US$34.82
Corcept Therapeutics
7D
-12.9%
1Y
-45.2%
MRK
US$122.26
Merck
7D
0.7%
1Y
36.6%

MRK: Pipeline Readouts And Gardasil Policy Shifts Will Shape Forward Risk Balance

Analysts have lifted their Merck fair value estimate from $115.11 to $124.88, citing a higher expected future P/E, modestly higher projected revenue growth, and a series of recent price target hikes that highlight confidence in upcoming launches and data readouts. Analyst Commentary Recent Street research around Merck points to a generally constructive tone, with many firms adjusting ratings and price targets in a way that supports a higher fair value, while still flagging a few execution and policy watchpoints for investors to track.
ZTS
US$128.78
Zoetis
7D
1.7%
1Y
-19.7%

ZTS: Future Pet Osteoarthritis Pipeline Will Support Premium Multiple Potential

Zoetis' analyst fair value estimate has been reset from $158.22 to $151.00, as analysts balance recent price target changes and a slightly lower assumed future P/E multiple against broadly steady growth and margin assumptions. Analyst Commentary Recent Street research on Zoetis points to a mixed setup, with some analysts seeing support for the current valuation and others focusing on execution risk and the product pipeline.
LLY
US$1,009.52
Eli Lilly
7D
-2.9%
1Y
15.5%
EYPT
US$15.33
EyePoint
7D
18.5%
1Y
149.3%

EYPT: Rebrand And Refined Profit Outlook Will Support Future Upside

Analysts now set a refreshed price target for EyePoint at $36.08, with the update linked to modest adjustments in the discount rate, profit margin expectations, and future P/E assumptions. What's in the News On December 8, 2025, EyePoint Pharmaceuticals, Inc.
TARS
US$66.61
Tarsus Pharmaceuticals
7D
9.6%
1Y
39.2%
HRMY
US$29.16
Harmony Biosciences Holdings
7D
-19.0%
1Y
-15.6%
TEVA
US$34.22
Teva Pharmaceutical Industries
7D
0.7%
1Y
104.4%

TEVA: Affordable Medicines And 2026 R&D Progress Will Shape Medium Term Outlook

Narrative Update Overview The analyst price target for Teva Pharmaceutical Industries has been revised modestly higher to $37.95, with analysts pointing to updated fair value estimates, slightly adjusted discount rates, a new revenue growth outlook, and recent Street research highlighting potential pipeline catalysts and the appeal of affordable medicines heading into 2026. Analyst Commentary Recent Street research on Teva Pharmaceutical Industries has centered on refreshed price targets, the potential of the R&D pipeline heading into 2026, and the appeal of the affordable medicines theme.
OGN
US$8.10
Organon
7D
9.6%
1Y
-47.7%
BLTE
US$180.95
Belite Bio
7D
3.2%
1Y
217.5%
LQDA
US$33.59
Liquidia
7D
-12.1%
1Y
108.4%
RGC
US$29.17
Regencell Bioscience Holdings
7D
-6.6%
1Y
24,532.5%
GPCR
US$66.55
Structure Therapeutics
7D
-5.0%
1Y
180.0%