Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Pfizer Inc. (NYSE:PFE)

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Enterprise Value to FCFF (EV/FCFF)

Intermediate level


Free Cash Flow to The Firm (FCFF)

Pfizer Inc., FCFF calculation

US$ in millions

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income attributable to Pfizer Inc.
Net income attributable to noncontrolling interests
Net noncash charges
Changes in assets and liabilities, net of acquisitions and divestitures
Net cash provided by operating activities
Cash paid during the period for interest, net of tax1
Capitalized interest expense, net of tax2
Purchases of property, plant and equipment
Acquisitions of intangible assets
Free cash flow to the firm (FCFF)

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-29).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the Pfizer Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. Pfizer Inc.’s FCFF decreased from 2017 to 2018 and from 2018 to 2019.

Interest Paid, Net of Tax

Pfizer Inc., interest paid, net of tax calculation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Effective Income Tax Rate (EITR)
EITR1
Interest Paid, Net of Tax
Cash paid during the period for interest, before tax
Less: Cash paid during the period for interest, tax2
Cash paid during the period for interest, net of tax
Interest Costs Capitalized, Net of Tax
Capitalized interest expense, before tax
Less: Capitalized interest expense, tax3
Capitalized interest expense, net of tax

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-29).

1 See details »

2 2019 Calculation
Cash paid during the period for interest, tax = Cash paid during the period for interest × EITR
= × =

3 2019 Calculation
Capitalized interest expense, tax = Capitalized interest expense × EITR
= × =


Enterprise Value to FCFF Ratio, Current

Pfizer Inc., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (US$ in millions)
Enterprise value (EV)
Free cash flow to the firm (FCFF)
Valuation Ratio
EV/FCFF
Benchmarks
EV/FCFF, Competitors1
Abbott Laboratories
AbbVie Inc.
Allergan PLC
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
EV/FCFF, Sector
Pharmaceuticals & Biotechnology
EV/FCFF, Industry
Health Care

Based on: 10-K (filing date: 2020-02-27).

1 Click competitor name to see calculations.

If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

Pfizer Inc., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in millions)
Enterprise value (EV)1
Free cash flow to the firm (FCFF)2
Valuation Ratio
EV/FCFF3
Benchmarks
EV/FCFF, Competitors4
Abbott Laboratories
AbbVie Inc.
Allergan PLC
Amgen Inc.
Biogen Inc.
Bristol-Myers Squibb Co.
Eli Lilly & Co.
Gilead Sciences Inc.
Illumina Inc.
Johnson & Johnson
Merck & Co. Inc.
Regeneron Pharmaceuticals Inc.
Vertex Pharmaceuticals Inc.
Zoetis Inc.
EV/FCFF, Sector
Pharmaceuticals & Biotechnology
EV/FCFF, Industry
Health Care

Based on: 10-K (filing date: 2020-02-27), 10-K (filing date: 2019-02-28), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-29).

1 See details »

2 See details »

3 2019 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =

4 Click competitor name to see calculations.

Valuation ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. Pfizer Inc.’s EV/FCFF ratio increased from 2017 to 2018 and from 2018 to 2019.