Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Pfizer Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Pfizer Inc. Annual Report.


Share Price
The share price exhibited significant volatility over the period analyzed. Initially, it declined from $26.26 in 2006 to a low of $12.31 in 2009, indicating a substantial drop likely correlated with broader market or company-specific challenges during that time. Following this trough, the share price rebounded steadily, reaching a peak of $45.96 in 2022, more than doubling the initial value observed in 2006. However, after this peak, a sharp decline occurred in the subsequent two years, with the price falling to $27.55 in 2023 and further to $26.10 in 2025, returning close to the initial levels from 2006.
Book Value Per Share (BVPS)
The BVPS showed a relatively stable and gradual upward trend over the period. Starting at $8.92 in 2006, it experienced minor fluctuations but generally increased, reaching $17.02 in 2023, marking nearly a doubling compared to the beginning of the period. The increase in BVPS suggests steady growth in net asset value per share, reflecting potentially consistent profitability or asset accumulation. However, slight declines post-2023 indicate some adjustments or changes in the company's financial structure.
Price-to-Book Value Ratio (P/BV)
The P/BV ratio decreased sharply from 2.94 in 2006 to 1.44 in 2009, coinciding with the decline in share price and relatively stable BVPS, indicating that the market valued the stock more conservatively during that period. From 2009 onwards, the ratio recovered strongly, increasing to a peak of 3.80 in 2019, reflecting growing investor confidence and potentially higher growth expectations. After 2019, the ratio declined steadily to 1.68 by 2025, aligning with the reversal observed in the share price and suggesting a more cautious market valuation relative to the company's book value.
Overall Insights
The data reveals a cyclical pattern in market valuation over the two decades. Early periods were characterized by reduced investor confidence as evidenced by declining share prices and P/BV ratios. The mid to late periods showed recovery and optimism, with marked increases in share price and P/BV ratios, supported by gradual growth in book value per share. The recent downturn in both share price and P/BV ratio, despite relatively high BVPS, may reflect market reassessment of future growth prospects or external economic factors affecting valuation. The trends emphasize the dynamic nature of market perceptions relative to underlying book value growth.

Comparison to Competitors

Pfizer Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Pfizer Inc., P/BV, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel

Based on: 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).


Comparison to Industry (Health Care)