Stock Analysis on Net
Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

Common-Size Income Statement

Pfizer Inc., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Product revenues 87.04 91.49 90.59 87.07 91.02
Alliance revenues 12.96 8.51 9.41 12.93 8.98
Revenues 100.00% 100.00% 100.00% 100.00% 100.00%
Cost of sales -42.66 -34.23 -37.92 -20.74 -19.75
Gross profit 57.34% 65.77% 62.08% 79.26% 80.25%
Selling, informational and administrative expenses -25.25 -13.63 -15.63 -27.72 -27.73
Research and development expenses -18.26 -11.39 -12.74 -22.44 -16.71
Acquired in-process research and development expenses -0.33 -0.95 -4.27 0.00 0.00
Amortization of intangible assets -8.09 -3.60 -4.55 -8.20 -8.91
Restructuring charges and certain acquisition-related costs -5.03 -1.37 -0.99 -1.43 -1.44
Operating income 0.38% 34.83% 23.91% 19.47% 25.46%
Gain on completion of Consumer Healthcare JV transaction 0.00 0.00 0.00 0.01 15.63
Interest income 2.78 0.25 0.04 0.17 0.44
Interest expense -3.78 -1.23 -1.59 -3.46 -3.04
Net interest expense -1.00% -0.98% -1.54% -3.28% -2.60%
Royalty-related income 1.81 0.84 1.05 1.84 1.25
Net gains (losses) on asset disposals 0.00 0.00 0.12 -0.57 0.06
Net gains (losses) recognized during the period on equity securities 2.72 -1.27 1.65 1.29 0.88
Income from collaborations, out-licensing arrangements and sales of compound/product rights 0.26 0.19 0.49 0.78 0.32
Net periodic benefit credits (costs) other than service costs 1.04 0.85 3.13 0.56 -0.12
Certain legal matters, net -0.81 -0.23 -0.22 -0.07 -1.07
Certain asset impairments -5.17 -0.42 -0.11 -4.04 -5.49
Business and legal entity alignment costs 0.00 0.00 0.00 0.00 -0.65
Net losses on early retirement of debt 0.00 0.00 0.00 0.00 -0.27
Haleon/Consumer Healthcare JV equity method income 0.86 0.43 0.58 0.71 0.03
Other, net 1.71 0.38 0.85 1.18 0.75
Other income (deductions), net 1.43% -0.21% 6.00% -1.60% -6.91%
Income from continuing operations before provision for taxes on income 1.81% 34.61% 29.91% 17.89% 34.17%
(Provision) benefit for taxes on income 1.90 -3.32 -2.28 -1.14 -2.67
Income from continuing operations 3.71% 31.30% 27.63% 16.75% 31.49%
Discontinued operations, net of tax -0.02 0.01 -0.53 6.28 0.01
Net income before allocation to noncontrolling interests 3.69% 31.30% 27.10% 23.03% 31.50%
Net income attributable to noncontrolling interests -0.07 -0.03 -0.06 -0.09 -0.06
Net income attributable to Pfizer Inc. 3.62% 31.27% 27.04% 22.95% 31.45%
Preferred stock dividends, net of tax 0.00 0.00 0.00 0.00 0.00
Net income attributable to Pfizer Inc. common shareholders 3.62% 31.27% 27.04% 22.95% 31.44%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Pfizer Inc. operating income as a percentage of revenues increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income from continuing operations before provision for taxes on income Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Pfizer Inc. income from continuing operations before provision for taxes on income as a percentage of revenues increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income attributable to Pfizer Inc. The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Pfizer Inc. net income attributable to Pfizer Inc. as a percentage of revenues increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.