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: 2025-12-31), 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.


The price-to-book value (P/BV) ratio exhibited considerable fluctuation over the observed period, spanning from 2006 to 2026. Initial values indicated a P/BV around 2.94, which decreased through 2009 to a low of 1.44 before beginning a period of moderate increase.

Initial Decline and Recovery (2006-2011)
From 2006 to 2007, the P/BV ratio decreased from 2.94 to 2.49. A further decline was observed through 2009, reaching 1.44, potentially reflecting market conditions during that period. Subsequently, the ratio experienced a recovery, increasing to 1.75 by 2011, though it remained below the initial value from 2006.
Moderate Fluctuations (2012-2016)
The period between 2012 and 2016 saw moderate fluctuations in the P/BV ratio. It rose to 1.95 in 2012 and 2.42 in 2013, then peaked at 2.95 in 2014 before decreasing slightly to 2.84 in 2016. This suggests a period of relative stability with some volatility.
Peak and Subsequent Decline (2017-2024)
A notable peak in the P/BV ratio occurred in 2019, reaching 3.80. This was followed by a decline to 3.00 in 2020, and a slight decrease to 2.98 in 2021. A more substantial decline was then observed, falling to 2.48 in 2022 and further to 1.75 in 2023. This trend continued into 2024, with the ratio reaching 1.68.
Recent Stabilization (2025-2026)
The most recent two years, 2025 and 2026, show a slight stabilization, with the P/BV ratio increasing to 1.78 and 1.78 respectively. This suggests a potential leveling off after the previous decline, though it remains at a lower level than observed in the late 2010s.

Overall, the P/BV ratio demonstrates sensitivity to market dynamics and company-specific factors. The significant decline from 2019 to 2024 warrants further investigation to determine the underlying causes, while the recent stabilization may indicate a potential bottoming out of the ratio.


Comparison to Competitors

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

Microsoft Excel

Based on: 10-K (reporting date: 2025-12-31), 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: 2025-12-31), 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)