Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

$24.99

Analysis of Solvency Ratios

Microsoft Excel

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Solvency Ratios (Summary)

Pfizer Inc., solvency ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt Ratios
Debt to equity
Debt to equity (including operating lease liability)
Debt to capital
Debt to capital (including operating lease liability)
Debt to assets
Debt to assets (including operating lease liability)
Financial leverage
Coverage Ratios
Interest coverage
Fixed charge coverage

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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Pfizer Inc. debt to equity ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Pfizer Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Pfizer Inc. debt to capital ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Pfizer Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Pfizer Inc. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Pfizer Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Pfizer Inc. financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Pfizer Inc. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Pfizer Inc. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Equity

Pfizer Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total Pfizer Inc. shareholders’ equity
Solvency Ratio
Debt to equity1
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Equity, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Equity, Industry
Health Care

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).

1 2023 Calculation
Debt to equity = Total debt ÷ Total Pfizer Inc. shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Pfizer Inc. debt to equity ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Equity (including Operating Lease Liability)

Pfizer Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Operating lease liabilities, short-term (included in Other current liabilities)
Operating lease liabilities, long-term (included in Other noncurrent liabilities)
Total debt (including operating lease liability)
 
Total Pfizer Inc. shareholders’ equity
Solvency Ratio
Debt to equity (including operating lease liability)1
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Equity (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Equity (including Operating Lease Liability), Industry
Health Care

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).

1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Pfizer Inc. shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Pfizer Inc. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Capital

Pfizer Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Total Pfizer Inc. shareholders’ equity
Total capital
Solvency Ratio
Debt to capital1
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Capital, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Capital, Industry
Health Care

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).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Pfizer Inc. debt to capital ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

Pfizer Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Operating lease liabilities, short-term (included in Other current liabilities)
Operating lease liabilities, long-term (included in Other noncurrent liabilities)
Total debt (including operating lease liability)
Total Pfizer Inc. shareholders’ equity
Total capital (including operating lease liability)
Solvency Ratio
Debt to capital (including operating lease liability)1
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Capital (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Capital (including Operating Lease Liability), Industry
Health Care

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).

1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Pfizer Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Assets

Pfizer Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
 
Total assets
Solvency Ratio
Debt to assets1
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Assets, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Assets, Industry
Health Care

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).

1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Pfizer Inc. debt to assets ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Debt to Assets (including Operating Lease Liability)

Pfizer Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt
Long-term debt, excluding current portion
Total debt
Operating lease liabilities, short-term (included in Other current liabilities)
Operating lease liabilities, long-term (included in Other noncurrent liabilities)
Total debt (including operating lease liability)
 
Total assets
Solvency Ratio
Debt to assets (including operating lease liability)1
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Debt to Assets (including Operating Lease Liability), Sector
Pharmaceuticals, Biotechnology & Life Sciences
Debt to Assets (including Operating Lease Liability), Industry
Health Care

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).

1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Pfizer Inc. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Financial Leverage

Pfizer Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Total assets
Total Pfizer Inc. shareholders’ equity
Solvency Ratio
Financial leverage1
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Financial Leverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Financial Leverage, Industry
Health Care

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).

1 2023 Calculation
Financial leverage = Total assets ÷ Total Pfizer Inc. shareholders’ equity
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Pfizer Inc. financial leverage ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Interest Coverage

Pfizer Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income attributable to Pfizer Inc.
Add: Net income attributable to noncontrolling interest
Less: Discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Solvency Ratio
Interest coverage1
Benchmarks
Interest Coverage, Competitors2
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Interest Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Interest Coverage, Industry
Health Care

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).

1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= ÷ =

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Pfizer Inc. interest coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Fixed Charge Coverage

Pfizer Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
U.S. statutory income tax rate
Selected Financial Data (US$ in millions)
Net income attributable to Pfizer Inc.
Add: Net income attributable to noncontrolling interest
Less: Discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense
Earnings before interest and tax (EBIT)
Add: Operating lease cost
Earnings before fixed charges and tax
 
Interest expense
Operating lease cost
Preferred stock dividends, net of tax
Preferred stock dividends, net of tax, tax adjustment1
Preferred stock dividends, net of tax, after tax adjustment
Fixed charges
Solvency Ratio
Fixed charge coverage2
Benchmarks
Fixed Charge Coverage, Competitors3
AbbVie Inc.
Amgen Inc.
Bristol-Myers Squibb Co.
Danaher Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Moderna Inc.
Regeneron Pharmaceuticals Inc.
Thermo Fisher Scientific Inc.
Fixed Charge Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences
Fixed Charge Coverage, Industry
Health Care

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).

1 2023 Calculation
Preferred stock dividends, net of tax, tax adjustment = (Preferred stock dividends, net of tax × U.S. statutory income tax rate) ÷ (1 − U.S. statutory income tax rate)
= ( × ) ÷ (1 − ) =

2 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= ÷ =

3 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Pfizer Inc. fixed charge coverage ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.