company background image
PFE

Pfizer NYSE:PFE Stock Report

Last Price

US$49.27

Market Cap

US$276.4b

7D

-2.5%

1Y

9.3%

Updated

07 Aug, 2022

Data

Company Financials +
PFE fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance6/6
Financial Health5/6
Dividends5/6

PFE Stock Overview

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.

Pfizer Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Pfizer
Historical stock prices
Current Share PriceUS$49.27
52 Week HighUS$61.71
52 Week LowUS$40.94
Beta0.62
1 Month Change-7.34%
3 Month Change1.30%
1 Year Change9.32%
3 Year Change35.54%
5 Year Change48.18%
Change since IPO1,565.47%

Recent News & Updates

Aug 04

Pfizer: Don't Buy Now As Growth Could Slow Significantly

Pfizer delivered another quarter of solid results, driven by its COVID franchise. We believe the market had anticipated a robust performance as it recovered remarkably from its June lows, pre-earnings. However, we believe the near-term upside in PFE has been reflected. We also believe that the market has de-rated PFE, given potentially slower revenue and profitability growth from FY23. Investors are urged to consider whether Pfizer can sustain its COVID-driven results from 2023, even as the potential for Paxlovid outside of the US seem exciting. Our valuation model indicates that investors could underperform the market by adding at the current levels. Therefore, we reiterate our Hold rating for PFE stock. We urge investors to be patient and wait for a deeper pullback first. Thesis Pfizer Inc. (PFE) reported a mixed bag of earnings for its Q2 release. It was a robust quarter boosted by a solid performance from its COVID franchise (Comirnaty and Paxlovid), which also saw the company raise the lower end of its FY22 earnings guidance. However, the market's reaction has been somewhat languid for PFE since it recovered from its June lows. We also updated investors in our June article that PFE looks to be at a short-term bottom. Therefore, the market had anticipated a robust Q2 card as PFE staged a sharp recovery in June/July before its earnings release. Therefore, we believe the near-term upside in PFE has been reflected accordingly. Moreover, investors should also be prepared for much slower growth moving ahead for Pfizer, as it laps highly challenging COVID-driven comps in FY22. Therefore, we caution investors that adding at the current levels could lead to market underperformance. As a result, we reiterate our Hold rating and urge investors to be patient. Pfizer's Strong H1'22 Performance. But, What's Next? Pfizer delivered another robust quarter, posting record revenue of $27.7B. It also included $16.9B in revenue from Comirnaty and Paxlovid as the company continued to ride on its COVID franchise. Therefore, it also helped the company surpass the consensus estimates with ease. In addition, Pfizer also lifted the lower end of its FY22 earnings guidance while keeping its revenue outlook unchanged (due to the Forex impact). The company also remains confident in the resilience of its COVID franchise, given its updated vaccines, bivalent versions, and the "substantial" market opportunity for Paxlovid. CEO Albert Bourla articulated (edited): In spite of the strong growth we have seen in Paxlovid uptake in the US due to our and the government’s efforts, we estimate that a significant amount of eligible patients outside the US are not yet being treated with the drug and may not know they are at high risk of progressing to severe disease. So, we believe there remains a substantial opportunity to grow Paxlovid utilization. - Barron's Bourla's optimism is understandable. After all, Pfizer highlighted that it had garnered nearly 91% of the US COVID oral therapeutics market share in mid-July. Therefore, the global opportunity could be exciting if Pfizer can execute well. Furthermore, Comirnaty's 63% global market share of COVID vaccines demonstrated the world's confidence in Pfizer's COVID products. Hence, we believe investors should monitor the momentum in Paxlovid sales outside of the US moving forward. Pfizer revenue change % and adjusted EBIT change % consensus estimates (S&P Cap IQ) However, even the generally bullish Street analysts don't expect Pfizer to continue its remarkable growth cadence from FY23. Therefore, investors need to be prepared for a dramatic growth deceleration in its revenue and adjusted EBIT from Q3. Therefore, we believe the tepid reaction from the market, keeping PFE in an extended consolidation range, suggests that it could be looking for more sustainable upside surprises sans its COVID franchise from Bourla & team. Pfizer FCF margins % and adjusted net margins % consensus estimates (S&P Cap IQ)

Jul 28

Pfizer Non-GAAP EPS of $2.04 beats by $0.26, revenue of $27.7B beats by $1.5B, raises lower end of FY22 EPS guidance

Pfizer press release (NYSE:PFE): Q2 Non-GAAP EPS of $2.04 beats by $0.26. Revenue of $27.7B (+45.8% Y/Y) beats by $1.5B. Second-Quarter 2022 Revenues of $27.7 Billion, Reflecting 53% Operational Growth, Driven Primarily by Strong Contributions from Paxlovid and Comirnaty Raises Full-Year 2022 Financial Guidance for Revenues and Adjusted Diluted EPS by $2 Billion and $0.24, Respectively, on an Operational Basis (Which Excludes the Impact of Foreign Exchange) Including Foreign Exchange Impacts, Pfizer Reaffirms Revenue Guidance of $98.0 to $102.0 Billion vs. $103.62B consensus and Raises Lower End of Adjusted Diluted EPS Guidance by $0.05 to a Range of $6.30 to $6.45 (from prior outlook of $6.25-$6.45 vs. $6.67 consensus). Reaffirms 2022 Revenue Guidance for Comirnaty and Paxlovid of ~$32 Billion and ~$22 Billion, Respectively, Despite Unfavorable Impacts from Foreign Exchange.

Shareholder Returns

PFEUS PharmaceuticalsUS Market
7D-2.5%-3.0%1.0%
1Y9.3%1.9%-12.9%

Return vs Industry: PFE exceeded the US Pharmaceuticals industry which returned 1.9% over the past year.

Return vs Market: PFE exceeded the US Market which returned -12.9% over the past year.

Price Volatility

Is PFE's price volatile compared to industry and market?
PFE volatility
PFE Average Weekly Movement3.7%
Pharmaceuticals Industry Average Movement11.8%
Market Average Movement7.9%
10% most volatile stocks in US Market17.1%
10% least volatile stocks in US Market3.2%

Stable Share Price: PFE is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: PFE's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
184979,000Albert Bourlahttps://www.pfizer.com

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands. The company also provides medicines and vaccines in various therapeutic areas, such as pneumococcal disease, meningococcal disease, tick-borne encephalitis, and COVID-19 under the Comirnaty/BNT162b2, Nimenrix, FSME/IMMUN-TicoVac, Trumenba, and the Prevnar family brands; biosimilars for chronic immune and inflammatory diseases under the Xeljanz, Enbrel, Inflectra, Eucrisa/Staquis, and Cibinqo brands; and amyloidosis, hemophilia, and endocrine diseases under the Vyndaqel/Vyndamax, BeneFIX, and Genotropin brands.

Pfizer Fundamentals Summary

How do Pfizer's earnings and revenue compare to its market cap?
PFE fundamental statistics
Market CapUS$276.45b
Earnings (TTM)US$29.48b
Revenue (TTM)US$101.28b

9.4x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PFE income statement (TTM)
RevenueUS$101.28b
Cost of RevenueUS$38.17b
Gross ProfitUS$63.11b
Other ExpensesUS$33.62b
EarningsUS$29.48b

Last Reported Earnings

Jul 03, 2022

Next Earnings Date

n/a

Earnings per share (EPS)5.25
Gross Margin62.31%
Net Profit Margin29.11%
Debt/Equity Ratio44.1%

How did PFE perform over the long term?

See historical performance and comparison

Dividends

3.2%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is PFE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PFE?

Other financial metrics that can be useful for relative valuation.

PFE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.9x
Enterprise Value/EBITDA6.7x
PEG Ratio-0.5x

Price to Earnings Ratio vs Peers

How does PFE's PE Ratio compare to its peers?

PFE PE Ratio vs Peers
The above table shows the PE ratio for PFE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average27.8x
LLY Eli Lilly
50.3x22.8%US$286.3b
BMY Bristol-Myers Squibb
23.3x25.9%US$154.0b
MRK Merck
13.3x9.1%US$221.4b
JNJ Johnson & Johnson
24.5x5.4%US$449.9b
PFE Pfizer
9.4x-17.5%US$276.4b

Price-To-Earnings vs Peers: PFE is good value based on its Price-To-Earnings Ratio (9.4x) compared to the peer average (27.8x).


Price to Earnings Ratio vs Industry

How does PFE's PE Ratio compare vs other companies in the US Pharmaceuticals Industry?

Price-To-Earnings vs Industry: PFE is good value based on its Price-To-Earnings Ratio (9.4x) compared to the US Pharmaceuticals industry average (19.3x)


Price to Earnings Ratio vs Fair Ratio

What is PFE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PFE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.4x
Fair PE Ratio22.2x

Price-To-Earnings vs Fair Ratio: PFE is good value based on its Price-To-Earnings Ratio (9.4x) compared to the estimated Fair Price-To-Earnings Ratio (22.2x).


Share Price vs Fair Value

What is the Fair Price of PFE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PFE ($49.27) is trading below our estimate of fair value ($117.84)

Significantly Below Fair Value: PFE is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Future Growth

How is Pfizer forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-17.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PFE's earnings are forecast to decline over the next 3 years (-17.5% per year).

Earnings vs Market: PFE's earnings are forecast to decline over the next 3 years (-17.5% per year).

High Growth Earnings: PFE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PFE's revenue is expected to decline over the next 3 years (-12.4% per year).

High Growth Revenue: PFE's revenue is forecast to decline over the next 3 years (-12.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PFE's Return on Equity is forecast to be low in 3 years time (16.1%).


Discover growth companies

Past Performance

How has Pfizer performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


6.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PFE has high quality earnings.

Growing Profit Margin: PFE's current net profit margins (29.1%) are higher than last year (21.7%).


Past Earnings Growth Analysis

Earnings Trend: PFE's earnings have grown by 6% per year over the past 5 years.

Accelerating Growth: PFE's earnings growth over the past year (146.8%) exceeds its 5-year average (6% per year).

Earnings vs Industry: PFE earnings growth over the past year (146.8%) exceeded the Pharmaceuticals industry 15.5%.


Return on Equity

High ROE: PFE's Return on Equity (35.7%) is considered high.


Discover strong past performing companies

Financial Health

How is Pfizer's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PFE's short term assets ($54.4B) exceed its short term liabilities ($39.3B).

Long Term Liabilities: PFE's short term assets ($54.4B) do not cover its long term liabilities ($61.9B).


Debt to Equity History and Analysis

Debt Level: PFE's net debt to equity ratio (15.2%) is considered satisfactory.

Reducing Debt: PFE's debt to equity ratio has reduced from 74.7% to 44.1% over the past 5 years.

Debt Coverage: PFE's debt is well covered by operating cash flow (94.9%).

Interest Coverage: PFE's interest payments on its debt are well covered by EBIT (37.3x coverage).


Balance Sheet


Discover healthy companies

Dividend

What is Pfizer current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


3.25%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: PFE's dividend (3.25%) is higher than the bottom 25% of dividend payers in the US market (1.52%).

High Dividend: PFE's dividend (3.25%) is low compared to the top 25% of dividend payers in the US market (4.09%).


Stability and Growth of Payments

Stable Dividend: PFE's dividends per share have been stable in the past 10 years.

Growing Dividend: PFE's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (30.1%), PFE's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (28.2%), PFE's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Albert Bourla (60 yo)

3.58yrs

Tenure

US$24,353,219

Compensation

Dr. Albert Bourla, DVM, Ph.D. serves as the Chief Executive Officer of Pfizer Inc. since January 1, 2019 and has been its Executive Director since February 23, 2018. Dr. Bourla was Chief Operating Officer...


CEO Compensation Analysis

Compensation vs Market: Albert's total compensation ($USD24.35M) is above average for companies of similar size in the US market ($USD12.96M).

Compensation vs Earnings: Albert's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: PFE's management team is considered experienced (3.6 years average tenure).


Board Members

Experienced Board: PFE's board of directors are considered experienced (5.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PFE insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Pfizer Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Pfizer Inc.
  • Ticker: PFE
  • Exchange: NYSE
  • Founded: 1849
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$276.449b
  • Shares outstanding: 5.61b
  • Website: https://www.pfizer.com

Number of Employees


Location

  • Pfizer Inc.
  • 235 East 42nd Street
  • New York
  • New York
  • 10017
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/07/03
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.