Microsoft Excel LibreOffice Calc

Pfizer Inc. (PFE)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

Pfizer Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014
Debt Ratios
Debt to equity 0.81 0.78 0.77 0.66 0.58 0.58 0.56 0.61 0.72 0.75 0.75 0.71 0.70 0.70 0.62 0.60 0.58 0.53 0.53 0.51 0.48 0.49 0.48
Debt to capital 0.45 0.44 0.43 0.40 0.37 0.37 0.36 0.38 0.42 0.43 0.43 0.41 0.41 0.41 0.38 0.38 0.37 0.34 0.35 0.34 0.32 0.33 0.32
Debt to assets 0.31 0.30 0.29 0.26 0.24 0.25 0.25 0.25 0.26 0.26 0.26 0.25 0.25 0.26 0.24 0.23 0.23 0.22 0.22 0.22 0.22 0.22 0.22
Financial leverage 2.62 2.62 2.64 2.51 2.35 2.36 2.25 2.41 2.83 2.89 2.89 2.88 2.82 2.72 2.58 2.59 2.56 2.40 2.39 2.37 2.20 2.25 2.21

Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Pfizer Inc.’s debt to equity ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Pfizer Inc.’s debt to capital ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Pfizer Inc.’s debt to assets ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Pfizer Inc.’s financial leverage ratio decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Debt to Equity

Pfizer Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt 16,617  10,507  9,410  8,831  7,385  11,583  9,010  9,953  9,448  9,514  7,680  10,688  13,633  13,724  11,546  10,160  9,818  8,394  6,555  5,141  5,389  5,561  9,319 
Long-term debt, excluding current portion 36,044  36,168  35,733  32,909  33,652  28,935  31,831  33,538  34,503  34,191  36,330  31,398  30,437  30,457  27,824  28,818  29,079  26,729  29,370  31,541  31,666  32,267  27,649 
Total debt 52,661  46,675  45,143  41,740  41,037  40,518  40,841  43,491  43,951  43,705  44,010  42,086  44,070  44,181  39,370  38,978  38,897  35,123  35,925  36,682  37,055  37,828  36,968 
 
Total Pfizer Inc. shareholders’ equity 65,103  59,568  58,806  63,407  71,319  69,778  73,184  71,308  60,770  58,368  58,435  59,544  63,306  62,769  63,067  64,720  66,838  66,894  67,304  71,301  77,988  76,633  77,769 
Solvency Ratio
Debt to equity1 0.81 0.78 0.77 0.66 0.58 0.58 0.56 0.61 0.72 0.75 0.75 0.71 0.70 0.70 0.62 0.60 0.58 0.53 0.53 0.51 0.48 0.49 0.48
Benchmarks
Debt to Equity, Competitors2
Abbott Laboratories 0.60 0.61 0.62 0.64 0.77 0.68 0.70 0.90 0.75 0.76 0.76 1.07 0.41 0.43 0.41 0.42 0.40 0.38 0.41 0.36 0.36 0.31 0.33
AbbVie Inc. — — — — — — 10.49 7.33 5.65 6.20 7.39 7.95 5.77 6.71 6.87 8.03 6.61 5.65 11.09 8.62 3.18 2.83 3.07
Allergan PLC 0.39 0.38 0.38 0.37 0.33 0.36 0.37 0.41 0.43 0.40 0.42 0.43 0.37 0.52 0.55 0.56 0.55 0.59 0.62 0.55 0.53 1.27 0.91
Amgen Inc. 2.73 2.84 3.05 2.71 2.40 2.31 2.28 1.40 1.11 1.11 1.11 1.16 1.15 1.10 1.20 1.12 1.14 1.16 1.14 1.19 1.30 1.37 1.41
Biogen Inc. 0.43 0.46 0.43 0.46 0.43 0.48 0.42 0.47 0.51 0.56 0.57 0.54 0.54 0.57 0.63 0.70 0.62 0.05 0.05 0.05 0.06 0.06 0.07
Bristol-Myers Squibb Co. 1.41 1.56 0.40 0.52 0.54 0.60 0.60 0.68 0.57 0.56 0.59 0.41 0.44 0.45 0.47 0.47 0.48 0.49 0.48 0.53 0.51 0.50 0.49
Eli Lilly & Co. 4.50 5.68 6.44 1.30 0.97 1.06 0.81 1.18 0.90 0.87 0.73 0.74 0.60 0.64 0.54 0.55 0.53 0.55 0.55 0.52 0.32 0.30 0.29
Gilead Sciences Inc. 1.19 1.15 1.21 1.28 1.19 1.34 1.41 1.64 1.18 1.16 1.29 1.39 1.60 1.42 1.70 1.20 1.28 0.75 0.72 0.80 0.69 0.59 0.73
Johnson & Johnson 0.50 0.48 0.50 0.51 0.48 0.51 0.51 0.57 0.48 0.48 0.46 0.39 0.37 0.36 0.32 0.28 0.28 0.27 0.28 0.27 0.20 0.22 0.23
Merck & Co. Inc. 0.97 0.96 0.94 0.94 0.73 0.72 0.70 0.71 0.71 0.63 0.71 0.62 0.57 0.56 0.59 0.59 0.58 0.57 0.63 0.44 0.62 0.48 0.56
Regeneron Pharmaceuticals Inc. 0.07 0.07 0.08 0.08 0.09 0.10 0.11 0.11 0.12 0.13 0.15 0.11 0.09 0.09 0.10 0.10 0.12 0.12 0.16 0.18 0.22 0.22 0.24
Vertex Pharmaceuticals Inc. 0.10 0.11 0.12 0.13 0.20 0.22 0.24 0.29 0.32 0.33 0.35 0.71 0.79 0.82 0.84 0.86 0.87 0.91 0.83 0.75 0.70 0.44 0.42
Zoetis Inc. 2.41 2.67 2.78 2.95 3.04 2.52 2.53 2.80 2.87 2.66 2.78 3.00 2.82 3.29 3.84 4.56 2.96 3.10 2.85 2.78 2.68 2.90 3.40

Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).

1 Q3 2019 Calculation
Debt to equity = Total debt ÷ Total Pfizer Inc. shareholders’ equity
= 52,661 ÷ 65,103 = 0.81

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.’s debt to equity ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Debt to Capital

Pfizer Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt 16,617  10,507  9,410  8,831  7,385  11,583  9,010  9,953  9,448  9,514  7,680  10,688  13,633  13,724  11,546  10,160  9,818  8,394  6,555  5,141  5,389  5,561  9,319 
Long-term debt, excluding current portion 36,044  36,168  35,733  32,909  33,652  28,935  31,831  33,538  34,503  34,191  36,330  31,398  30,437  30,457  27,824  28,818  29,079  26,729  29,370  31,541  31,666  32,267  27,649 
Total debt 52,661  46,675  45,143  41,740  41,037  40,518  40,841  43,491  43,951  43,705  44,010  42,086  44,070  44,181  39,370  38,978  38,897  35,123  35,925  36,682  37,055  37,828  36,968 
Total Pfizer Inc. shareholders’ equity 65,103  59,568  58,806  63,407  71,319  69,778  73,184  71,308  60,770  58,368  58,435  59,544  63,306  62,769  63,067  64,720  66,838  66,894  67,304  71,301  77,988  76,633  77,769 
Total capital 117,764  106,243  103,949  105,147  112,356  110,296  114,025  114,799  104,721  102,073  102,445  101,630  107,376  106,950  102,437  103,698  105,735  102,017  103,229  107,983  115,043  114,461  114,737 
Solvency Ratio
Debt to capital1 0.45 0.44 0.43 0.40 0.37 0.37 0.36 0.38 0.42 0.43 0.43 0.41 0.41 0.41 0.38 0.38 0.37 0.34 0.35 0.34 0.32 0.33 0.32
Benchmarks
Debt to Capital, Competitors2
Abbott Laboratories 0.38 0.38 0.38 0.39 0.43 0.40 0.41 0.47 0.43 0.43 0.43 0.52 0.29 0.30 0.29 0.30 0.28 0.28 0.29 0.27 0.27 0.24 0.25
AbbVie Inc. 1.27 1.30 1.27 1.27 1.08 1.10 0.91 0.88 0.85 0.86 0.88 0.89 0.85 0.87 0.87 0.89 0.87 0.85 0.92 0.90 0.76 0.74 0.75
Allergan PLC 0.28 0.28 0.28 0.27 0.25 0.26 0.27 0.29 0.30 0.29 0.30 0.30 0.27 0.34 0.35 0.36 0.36 0.37 0.38 0.35 0.35 0.56 0.48
Amgen Inc. 0.73 0.74 0.75 0.73 0.71 0.70 0.69 0.58 0.53 0.53 0.53 0.54 0.53 0.52 0.54 0.53 0.53 0.54 0.53 0.54 0.57 0.58 0.58
Biogen Inc. 0.30 0.31 0.30 0.31 0.30 0.33 0.30 0.32 0.34 0.36 0.36 0.35 0.35 0.36 0.39 0.41 0.38 0.04 0.05 0.05 0.05 0.06 0.06
Bristol-Myers Squibb Co. 0.59 0.61 0.28 0.34 0.35 0.37 0.38 0.40 0.36 0.36 0.37 0.29 0.30 0.31 0.32 0.32 0.33 0.33 0.32 0.35 0.34 0.34 0.33
Eli Lilly & Co. 0.82 0.85 0.87 0.57 0.49 0.51 0.45 0.54 0.47 0.47 0.42 0.42 0.37 0.39 0.35 0.35 0.35 0.35 0.36 0.34 0.24 0.23 0.22
Gilead Sciences Inc. 0.54 0.54 0.55 0.56 0.54 0.57 0.59 0.62 0.54 0.54 0.56 0.58 0.62 0.59 0.63 0.54 0.56 0.43 0.42 0.45 0.41 0.37 0.42
Johnson & Johnson 0.33 0.33 0.33 0.34 0.33 0.34 0.34 0.37 0.32 0.32 0.32 0.28 0.27 0.27 0.24 0.22 0.22 0.21 0.22 0.21 0.17 0.18 0.18
Merck & Co. Inc. 0.49 0.49 0.48 0.48 0.42 0.42 0.41 0.42 0.41 0.39 0.42 0.38 0.36 0.36 0.37 0.37 0.37 0.36 0.39 0.31 0.38 0.32 0.36
Regeneron Pharmaceuticals Inc. 0.06 0.07 0.07 0.07 0.08 0.09 0.10 0.10 0.10 0.11 0.13 0.10 0.08 0.08 0.09 0.09 0.11 0.10 0.14 0.15 0.18 0.18 0.19
Vertex Pharmaceuticals Inc. 0.09 0.10 0.11 0.12 0.17 0.18 0.19 0.22 0.24 0.25 0.26 0.42 0.44 0.45 0.46 0.46 0.47 0.48 0.45 0.43 0.41 0.31 0.30
Zoetis Inc. 0.71 0.73 0.74 0.75 0.75 0.72 0.72 0.74 0.74 0.73 0.74 0.75 0.74 0.77 0.79 0.82 0.75 0.76 0.74 0.74 0.73 0.74 0.77

Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).

1 Q3 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= 52,661 ÷ 117,764 = 0.45

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.’s debt to capital ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Debt to Assets

Pfizer Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014
Selected Financial Data (US$ in millions)
Short-term borrowings, including current portion of long-term debt 16,617  10,507  9,410  8,831  7,385  11,583  9,010  9,953  9,448  9,514  7,680  10,688  13,633  13,724  11,546  10,160  9,818  8,394  6,555  5,141  5,389  5,561  9,319 
Long-term debt, excluding current portion 36,044  36,168  35,733  32,909  33,652  28,935  31,831  33,538  34,503  34,191  36,330  31,398  30,437  30,457  27,824  28,818  29,079  26,729  29,370  31,541  31,666  32,267  27,649 
Total debt 52,661  46,675  45,143  41,740  41,037  40,518  40,841  43,491  43,951  43,705  44,010  42,086  44,070  44,181  39,370  38,978  38,897  35,123  35,925  36,682  37,055  37,828  36,968 
 
Total assets 170,446  156,199  155,421  159,422  167,838  164,980  164,612  171,797  172,151  168,558  168,784  171,615  178,430  170,658  162,929  167,460  170,867  160,878  160,640  169,274  171,362  172,612  171,808 
Solvency Ratio
Debt to assets1 0.31 0.30 0.29 0.26 0.24 0.25 0.25 0.25 0.26 0.26 0.26 0.25 0.25 0.26 0.24 0.23 0.23 0.22 0.22 0.22 0.22 0.22 0.22
Benchmarks
Debt to Assets, Competitors2
Abbott Laboratories 0.28 0.28 0.28 0.29 0.33 0.30 0.31 0.37 0.33 0.34 0.34 0.42 0.22 0.22 0.22 0.22 0.20 0.20 0.21 0.19 0.20 0.18 0.19
AbbVie Inc. 0.65 0.65 0.65 0.68 0.61 0.60 0.54 0.53 0.55 0.56 0.56 0.56 0.56 0.56 0.59 0.60 0.59 0.58 0.57 0.54 0.52 0.51 0.50
Allergan PLC 0.24 0.24 0.24 0.23 0.22 0.23 0.24 0.25 0.25 0.24 0.25 0.25 0.23 0.30 0.31 0.31 0.30 0.31 0.32 0.30 0.29 0.48 0.39
Amgen Inc. 0.50 0.52 0.52 0.51 0.51 0.51 0.50 0.44 0.45 0.44 0.44 0.45 0.45 0.44 0.46 0.44 0.44 0.45 0.44 0.45 0.47 0.48 0.48
Biogen Inc. 0.22 0.23 0.22 0.23 0.23 0.25 0.23 0.25 0.28 0.30 0.31 0.28 0.30 0.30 0.32 0.33 0.32 0.03 0.04 0.04 0.04 0.05 0.05
Bristol-Myers Squibb Co. 0.43 0.45 0.17 0.21 0.22 0.23 0.23 0.24 0.25 0.25 0.26 0.20 0.20 0.21 0.21 0.21 0.23 0.23 0.22 0.23 0.23 0.23 0.23
Eli Lilly & Co. 0.40 0.41 0.42 0.29 0.28 0.29 0.26 0.30 0.31 0.30 0.27 0.27 0.25 0.26 0.23 0.22 0.22 0.22 0.23 0.22 0.16 0.15 0.15
Gilead Sciences Inc. 0.42 0.41 0.42 0.43 0.42 0.44 0.44 0.48 0.45 0.44 0.46 0.46 0.48 0.44 0.48 0.43 0.44 0.31 0.32 0.36 0.33 0.30 0.35
Johnson & Johnson 0.19 0.19 0.20 0.20 0.20 0.21 0.21 0.22 0.23 0.23 0.22 0.19 0.19 0.19 0.17 0.15 0.15 0.15 0.15 0.14 0.12 0.13 0.13
Merck & Co. Inc. 0.31 0.32 0.31 0.30 0.28 0.27 0.27 0.28 0.29 0.27 0.29 0.26 0.26 0.25 0.26 0.26 0.26 0.26 0.28 0.22 0.27 0.24 0.26
Regeneron Pharmaceuticals Inc. 0.05 0.05 0.06 0.06 0.07 0.07 0.08 0.08 0.08 0.09 0.09 0.07 0.06 0.06 0.06 0.06 0.08 0.09 0.11 0.12 0.15 0.15 0.16
Vertex Pharmaceuticals Inc. 0.07 0.08 0.09 0.09 0.12 0.13 0.15 0.16 0.18 0.17 0.18 0.28 0.31 0.32 0.32 0.32 0.33 0.34 0.38 0.35 0.34 0.24 0.24
Zoetis Inc. 0.57 0.59 0.59 0.60 0.62 0.58 0.57 0.58 0.61 0.59 0.58 0.58 0.58 0.59 0.60 0.62 0.54 0.55 0.57 0.55 0.56 0.56 0.57

Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).

1 Q3 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= 52,661 ÷ 170,446 = 0.31

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.’s debt to assets ratio deteriorated from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.

Financial Leverage

Pfizer Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 31, 2014 Sep 28, 2014 Jun 29, 2014 Mar 30, 2014
Selected Financial Data (US$ in millions)
Total assets 170,446  156,199  155,421  159,422  167,838  164,980  164,612  171,797  172,151  168,558  168,784  171,615  178,430  170,658  162,929  167,460  170,867  160,878  160,640  169,274  171,362  172,612  171,808 
Total Pfizer Inc. shareholders’ equity 65,103  59,568  58,806  63,407  71,319  69,778  73,184  71,308  60,770  58,368  58,435  59,544  63,306  62,769  63,067  64,720  66,838  66,894  67,304  71,301  77,988  76,633  77,769 
Solvency Ratio
Financial leverage1 2.62 2.62 2.64 2.51 2.35 2.36 2.25 2.41 2.83 2.89 2.89 2.88 2.82 2.72 2.58 2.59 2.56 2.40 2.39 2.37 2.20 2.25 2.21
Benchmarks
Financial Leverage, Competitors2
Abbott Laboratories 2.15 2.16 2.19 2.20 2.33 2.24 2.26 2.47 2.26 2.25 2.26 2.56 1.90 1.93 1.91 1.94 1.98 1.92 1.97 1.92 1.86 1.76 1.78
AbbVie Inc. — — — — — — 19.52 13.89 10.29 11.15 13.14 14.26 10.30 11.92 11.57 13.45 11.28 9.78 19.39 15.81 6.13 5.57 6.10
Allergan PLC 1.61 1.60 1.59 1.56 1.51 1.53 1.55 1.60 1.67 1.66 1.69 1.69 1.60 1.73 1.76 1.77 1.84 1.92 1.95 1.85 1.83 2.66 2.33
Amgen Inc. 5.45 5.50 5.91 5.31 4.69 4.54 4.56 3.17 2.49 2.51 2.54 2.60 2.54 2.50 2.62 2.55 2.57 2.59 2.60 2.68 2.79 2.85 2.95
Biogen Inc. 1.96 2.03 1.91 1.94 1.85 1.95 1.86 1.88 1.79 1.88 1.85 1.88 1.82 1.89 2.00 2.08 1.96 1.33 1.30 1.32 1.31 1.35 1.34
Bristol-Myers Squibb Co. 3.25 3.44 2.29 2.49 2.47 2.65 2.59 2.86 2.30 2.27 2.28 2.08 2.16 2.20 2.22 2.23 2.11 2.11 2.16 2.27 2.21 2.19 2.16
Eli Lilly & Co. 11.20 13.91 15.32 4.47 3.41 3.67 3.05 3.88 2.89 2.90 2.68 2.77 2.41 2.49 2.31 2.44 2.39 2.46 2.39 2.42 1.96 1.95 1.90
Gilead Sciences Inc. 2.87 2.79 2.86 2.98 2.81 3.02 3.18 3.44 2.60 2.66 2.82 3.02 3.36 3.22 3.57 2.80 2.91 2.40 2.23 2.25 2.13 1.94 2.10
Johnson & Johnson 2.67 2.55 2.54 2.56 2.41 2.47 2.48 2.61 2.10 2.12 2.06 2.01 1.93 1.93 1.88 1.88 1.86 1.86 1.89 1.88 1.72 1.73 1.74
Merck & Co. Inc. 3.10 3.04 2.99 3.09 2.63 2.61 2.56 2.56 2.40 2.35 2.42 2.38 2.25 2.23 2.25 2.28 2.22 2.21 2.27 2.02 2.25 2.02 2.17
Regeneron Pharmaceuticals Inc. 1.33 1.35 1.36 1.34 1.37 1.38 1.43 1.43 1.44 1.47 1.61 1.57 1.52 1.52 1.57 1.53 1.57 1.36 1.41 1.52 1.47 1.46 1.47
Vertex Pharmaceuticals Inc. 1.43 1.39 1.39 1.41 1.59 1.61 1.65 1.75 1.79 1.97 1.96 2.50 2.55 2.60 2.60 2.66 2.64 2.65 2.22 2.17 2.08 1.81 1.78
Zoetis Inc. 4.21 4.56 4.70 4.93 4.94 4.37 4.43 4.85 4.67 4.55 4.75 5.14 4.87 5.54 6.40 7.41 5.44 5.61 5.03 5.04 4.79 5.18 5.95

Based on: 10-Q (filing date: 2019-11-07), 10-Q (filing date: 2019-08-08), 10-Q (filing date: 2019-05-09), 10-K (filing date: 2019-02-28), 10-Q (filing date: 2018-11-08), 10-Q (filing date: 2018-08-09), 10-Q (filing date: 2018-05-10), 10-K (filing date: 2018-02-22), 10-Q (filing date: 2017-11-09), 10-Q (filing date: 2017-08-10), 10-Q (filing date: 2017-05-11), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-11-10), 10-Q (filing date: 2016-08-11), 10-Q (filing date: 2016-05-12), 10-K (filing date: 2016-02-29), 10-Q (filing date: 2015-11-05), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-27), 10-Q (filing date: 2014-11-06), 10-Q (filing date: 2014-08-07), 10-Q (filing date: 2014-05-08).

1 Q3 2019 Calculation
Financial leverage = Total assets ÷ Total Pfizer Inc. shareholders’ equity
= 170,446 ÷ 65,103 = 2.62

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.’s financial leverage ratio decreased from Q1 2019 to Q2 2019 and from Q2 2019 to Q3 2019.