Upside case
Bull case
$49+94.6%
PFE would need investors to value it at roughly 17x earnings — about 8x more generous than today's 9x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated Jun 18, 2026
Pfizer Inc. (PFE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
39
analysts
16 bullish · 1 bearish · 39 covering PFE
Strong Buy
0
Buy
16
Hold
22
Sell
1
Strong Sell
0
Consensus Target
$27
+6.1% vs today
Scenario Range
$23 – $49
Model bear to bull value window
Coverage
39
Published analyst ratings
Valuation Context
8.5x
Forward P/E · Market cap $143.5B
PFE price targets
Three scenarios for where PFE stock could go
Current
~$25
Confidence
51 / 100
Updated
Jun 18, 2026
Where we are now
Current · $25
Bear
$23
Base
$37
Bull
$49
Market caseClosest to today
Base case
$37+47.7%
At 13x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$23-6.9%
If investor confidence fades or macro conditions deteriorate, a 1x multiple contraction could push PFE down roughly 7% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Pfizer Inc.
PFE · NYSEHealthcareDrug Manufacturers - GeneralDecember year-end
Pfizer is a global biopharmaceutical company that discovers, develops, and commercializes innovative medicines and vaccines across multiple therapeutic areas. It generates revenue primarily from pharmaceutical product sales — including blockbuster drugs like Eliquis, Prevnar, and Comirnaty — with vaccines contributing roughly 25% of total revenue. The company's competitive advantage lies in its massive R&D scale, extensive global manufacturing capabilities, and deep expertise in developing complex biologics and vaccines.
Market Cap
$143.5B
Revenue TTM
$63.3B
Net Income TTM
$7.5B
Net Margin
11.8%
PFE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
92%Exceptional
vs consensus estimates
Avg EPS Surprise
+45.5%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.78/$0.58
Revenue
$14.7B/$13.6B
Q4 2025
EPS
$0.87/$0.63
Revenue
$16.7B/$16.5B
Q1 2026
EPS
$0.66/$0.57
Revenue
$17.6B/$16.8B
Q2 2026
EPS
$0.75/$0.72
Revenue
$14.5B/$13.8B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.78/$0.58 | +34.5% | $14.7B/$13.6B | +8.1% |
| Q4 2025 | $0.87/$0.63 | +37.4% | $16.7B/$16.5B | +0.9% |
| Q1 2026 | $0.66/$0.57 | +16.4% | $17.6B/$16.8B | +4.2% |
| Q2 2026 | $0.75/$0.72 | +3.9% | $14.5B/$13.8B | +4.4% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$63.3B
0.0% YoY
FY2
$63.6B
+0.4% YoY
EPS Outlook
FY1
$2.00
+53.0% YoY
FY2
$1.93
-3.4% YoY
Trailing FCF (TTM)$9.5B
FCF Margin: 15.0%
Next Earnings
August 4, 2026
Expected EPS
$0.68
Expected Revenue
$14.4B
PFE beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
PFE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $62.6B
Product Mix
Latest annual revenue by segment or product family
Biopharma Segment
97.8%
-1.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
59.2%
-4.2% YoY
Tap, hover, or focus a slice to inspect segment detail.
Biopharma Segment is the largest disclosed segment at 97.8% of FY 2025 revenue, down 1.9% YoY.
UNITED STATES is the largest reported region at 59.2%, down 4.2% YoY.
PFE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Cheap versus peers
Fair value est. $37 — implies +47.2% from today's price.
Upside to Fair Value
47.2%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
PFE
18.5x
vs
S&P 500
24.4x
24% discount
vs Healthcare Trailing P/E
PFE
18.5x
vs
Healthcare
22.1x
16% discount
vs PFE 5Y Avg P/E
Today
18.5x
vs
5Y Average
27.9x
33% discount
Forward PE
8.5x
S&P 500
18.8x
-55%
Healthcare
18.3x
-53%
5Y Avg
—
—
Trailing PE
18.5x
S&P 500
24.4x
-24%
Healthcare
22.1x
-16%
5Y Avg
27.9x
-33%
PEG Ratio
—
S&P 500
1.66x
—
Healthcare
1.59x
—
5Y Avg
—
—
EV/EBITDA
10.3x
S&P 500
15.2x
-32%
Healthcare
14.2x
-27%
5Y Avg
12.3x
-16%
Price/FCF
15.8x
S&P 500
20.7x
-24%
Healthcare
18.5x
-15%
5Y Avg
17.6x
-10%
Price/Sales
2.3x
S&P 500
3.1x
-26%
Healthcare
2.6x
-13%
5Y Avg
2.9x
-21%
Dividend Yield
6.81%
S&P 500
1.91%
+256%
Healthcare
1.50%
+354%
5Y Avg
4.89%
+39%
| Metric | PFE | S&P 500 | Healthcare | 5Y Avg PFE |
|---|---|---|---|---|
| Forward PE | 8.5x | 18.8x-55% | 18.3x-53% | — |
| Trailing PE | 18.5x | 24.4x-24% | 22.1x-16% | 27.9x-33% |
| PEG Ratio | — | 1.66x | 1.59x | — |
| EV/EBITDA | 10.3x | 15.2x-32% | 14.2x-27% | 12.3x-16% |
| Price/FCF | 15.8x | 20.7x-24% | 18.5x-15% | 17.6x-10% |
| Price/Sales | 2.3x | 3.1x-26% | 2.6x-13% | 2.9x-21% |
| Dividend Yield | 6.81% | 1.91% | 1.50% | 4.89% |
PFE trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolPFE Financial Health
Verdict
Strong
PFE generates $9.5B in free cash flow at a 15.0% margin — returns 6.8% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$63.3B
Revenue Growth
TTM vs prior year
+1.4%
Gross Margin
Gross profit as a share of revenue
69.3%
Operating Margin
Operating income divided by revenue
23.4%
Net Margin
Net income divided by revenue
11.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$1.31
Free Cash Flow (TTM)
Cash generation after capex
$9.5B
FCF Margin
FCF as share of revenue — the primary cash quality signal
15.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
7.5%
ROA
Return on assets, trailing twelve months
3.6%
Cash & Equivalents
Liquid assets on the balance sheet
$1.1B
Net Debt
Total debt minus cash
$66.3B
Debt Serviceability
Net debt as a multiple of annual free cash flow
7.0× FCF
~7.0 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
8.3%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
6.8%
Dividend
6.8%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$1.72
Payout Ratio
Share of earnings distributed as dividends
125.8%
Shares Outstanding
Current diluted share count
5.7B
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pagePFE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Bearish analyst outlook
A comprehensive evaluation suggests divesting from Pfizer stock due to a bearish outlook, indicating potential downside risk.
Medium
Dividend yield concerns
Despite a high dividend yield, there are under-the-radar reasons to hold off on investing in Pfizer, signaling potential income instability.
Medium
Growth sustainability
Recent acquisitions may unlock growth, but questions remain about long-term sustainability and flawless safe-haven status.
Lower
Historical performance reliance
Pfizer's long history of innovation may not guarantee future success, as past performance does not ensure continued growth.
Lower
Prescription affordability pressures
Efforts to make prescriptions affordable may indicate pricing pressures or challenges in maintaining profitability.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why PFE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Innovative legacy and R&D
Pfizer has a long history of scientific innovation, dating back to 1849, and continues to be a trailblazer in developing new treatments and cures.
Strong dividend yield
Pfizer offers an attractive 5.8% dividend yield, appealing to income-focused investors despite recent stock depreciation.
EBITDA and FCF recovery
The company is expected to see a recovery in EBITDA and free cash flow, supporting its financial stability and growth initiatives.
Growth from DMD treatments
Pfizer's pipeline includes promising treatments for Duchenne muscular dystrophy (DMD), which could drive future revenue growth.
Undervalued big pharma stock
Analysts argue that Pfizer is one of the most undervalued big pharma stocks in 2026, with potential for significant upside.
Revenue and earnings projections
Pfizer's narrative projects $54.9 billion revenue and $9.2 billion earnings by 2029, indicating a path to earnings growth despite revenue normalization.
Fair value upside
Pfizer's forecasts suggest a fair value of $29.19, representing a 12% upside from its current price, making it an attractive investment.
Employee growth and development
Pfizer emphasizes career development and innovation in its workforce, fostering a culture that attracts and retains top talent.
Patient affordability programs
Pfizer offers co-pay cards and other support programs to help patients afford medications, enhancing brand loyalty and market access.
Long-term scientific innovation
With over 175 years of scientific innovation, Pfizer continues to invest in daring research, positioning itself for future breakthroughs.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
PFE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$25.22
52W Range Position
37%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$23.11
+9.1% from the low
52-Week High
$28.75
-12.3% from the high
1 Month
-0.43%
3 Month
-7.72%
YTD
+0.2%
1 Year
+5.6%
3Y CAGR
-13.8%
5Y CAGR
-8.3%
10Y CAGR
-2.6%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
PFE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
8.5x
vs 19.7x median
-57% below peer median
Revenue Growth
0.0%
vs +7.0% median
-100% below peer median
Net Margin
11.8%
vs 27.3% median
-57% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
PFE PFE Pfizer Inc. | $143.5B | 8.5x | 0.0% | 11.8% | Hold | +6.1% |
JNJ JNJ Johnson & Johnson | $550.4B | 19.7x | +7.0% | 27.3% | Buy | +10.1% |
MRK MRK Merck & Co., Inc. | $281.2B | 22.2x | +4.2% | 28.1% | Buy | +15.6% |
ABB ABBV AbbVie Inc. | $383.2B | 15.2x | +8.7% | 6.9% | Buy | +18.6% |
LLY LLY Eli Lilly and Company | $1.04T | 30.0x | +15.1% | 35.0% | Buy | +15.8% |
BMY BMY Bristol-Myers Squibb Company | $110.3B | 8.5x | +1.0% | 15.0% | Hold | +15.9% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
PFE Dividend and Capital Return
PFE returns 6.8% total yield, led by a 6.81% dividend, raised 15 consecutive years.
Dividend SustainableFCF Stretched
Total Shareholder Yield
6.8%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
6.81%
Payout Ratio
1.3%
How PFE Splits Its Return
Div 6.81%
Dividend 6.81%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.72
Growth Streak
Consecutive years of dividend increases
15Y
3Y Div CAGR
2.4%
5Y Div CAGR
2.5%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
5.7B
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.86 | — | — | — |
| 2025 | $1.72 | +2.4% | 0.0% | 6.9% |
| 2024 | $1.68 | +2.4% | 0.0% | 6.3% |
| 2023 | $1.64 | +2.5% | 0.0% | 5.6% |
| 2022 | $1.60 | +2.6% | 0.7% | 3.7% |
FAQ
7 questionsPFE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Pfizer Inc. (PFE) stock a buy or sell in 2026?
Pfizer Inc. (PFE) is rated Hold by Wall Street analysts as of 2026. Of 39 analysts covering the stock, 16 rate it Buy or Strong Buy, 22 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $27, implying +6.1% from the current price of $25. The bear case scenario is $23 and the bull case is $49.
02What is the PFE stock price target for 2026?
The Wall Street consensus price target for PFE is $27 based on 39 analyst estimates. The high-end target is $30 (+19.0% from today), and the low-end target is $25 (-0.9%). The base case model target is $37.
03Is Pfizer Inc. (PFE) stock overvalued in 2026?
PFE trades at 8.5x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals cheap versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Pfizer Inc. (PFE) stock in 2026?
The primary risks for PFE in 2026 are: (1) Bearish analyst outlook — A comprehensive evaluation suggests divesting from Pfizer stock due to a bearish outlook, indicating potential downside risk. (2) Dividend yield concerns — Despite a high dividend yield, there are under-the-radar reasons to hold off on investing in Pfizer, signaling potential income instability. (3) Growth sustainability — Recent acquisitions may unlock growth, but questions remain about long-term sustainability and flawless safe-haven status. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Pfizer Inc.'s revenue and earnings forecast?
Analyst consensus estimates PFE will report consensus revenue of $63.3B (0.0% year-over-year) and EPS of $2.00 (+53.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $63.6B in revenue.
06When does Pfizer Inc. (PFE) report its next earnings?
Pfizer Inc. is expected to report its next earnings on approximately 2026-08-04. Consensus expects EPS of $0.68 and revenue of $14.4B. Over recent quarters, PFE has beaten EPS estimates 100% of the time.
07How much free cash flow does Pfizer Inc. generate?
Pfizer Inc. (PFE) generated $9.5B in free cash flow over the trailing twelve months — a free cash flow margin of 15.0%. PFE returns capital to shareholders through dividends (6.8% yield) and share repurchases ($0 TTM).