Latest period
$2.50B
YoY change
-9.6%
5Y CAGR
-1.2%
Peak year (2023)
$3.91B
Cumulative CapEx
$65.75B
CapEx history chart for Pfizer (PFE) from 1989 to 2025
Latest: $2.63B
CapEx growth chart for Pfizer (PFE) from 1989 to 2025
Latest: -9.6%
CapEx history table for Pfizer (PFE) from 1989 to 2025
| 2025 | $2.63B | -9.6% | −$280.00M | ||
| 2024 | $2.91B | -25.5% | −$998.00M | ||
| 2023 | $3.91B | +20.7% | +$671.00M | ||
| 2022 | $3.24B | +19.4% | +$525.00M | ||
| 2021 | $2.71B | -2.9% | −$80.00M | ||
| 2020 | $2.79B | +7.6% | +$197.00M | ||
| 2019 | $2.59B | +18.1% | +$398.00M | ||
| 2018 | $2.20B | -0.9% | −$21.00M | ||
| 2017 | $2.22B | +10.9% | +$218.00M | ||
| 2016 | $2.00B | +33.6% | +$503.00M | ||
| 2015 | $1.50B | -5.5% | −$87.00M | ||
| 2014 | $1.58B | +8.1% | +$118.00M | ||
| 2013 | $1.47B | +10.4% | +$138.00M | ||
| 2012 | $1.33B | -20.1% | −$333.00M | ||
| 2011 | $1.66B | +9.7% | +$147.00M | ||
| 2010 | $1.51B | +25.6% | +$308.00M | ||
| 2009 | $1.21B | -29.2% | −$496.00M | ||
| 2008 | $1.70B | -9.5% | −$179.00M | ||
| 2007 | $1.88B | -8.3% | −$170.00M | ||
| 2006 | $2.05B | -2.7% | −$56.00M | ||
| 2005 | $2.11B | -19.0% | −$495.00M | ||
| 2004 | $2.60B | -1.5% | −$40.00M | ||
| 2003 | $2.64B | +50.2% | +$883.00M | ||
| 2002 | $1.76B | -20.2% | −$445.00M | ||
| 2001 | $2.20B | +0.5% | +$12.00M | ||
| 2000 | $2.19B | +40.4% | +$630.00M | ||
| 1999 | $1.56B | +30.3% | +$363.00M | ||
| 1998 | $1.20B | +27.0% | +$255.00M | ||
| 1997 | $943.00M | +21.8% | +$169.00M | ||
| 1996 | $774.00M | +11.2% | +$77.70M | ||
| 1995 | $696.30M | +3.7% | +$24.80M | ||
| 1994 | $671.50M | +5.9% | +$37.30M | ||
| 1993 | $634.20M | -5.9% | −$40.00M | ||
| 1992 | $674.20M | +13.5% | +$80.40M | ||
| 1991 | $593.80M | +8.5% | +$46.30M | ||
| 1990 | $547.50M | +19.9% | +$91.00M | ||
| 1989 | $456.50M | — | — |
- 2025$2.63B-9.6%
- 2024$2.91B-25.5%
- 2023$3.91B+20.7%
- 2022$3.24B+19.4%
- 2021$2.71B-2.9%
- 2020$2.79B+7.6%
- 2019$2.59B+18.1%
- 2018$2.20B-0.9%
- 2017$2.22B+10.9%
- 2016$2.00B+33.6%
- 2015$1.50B-5.5%
- 2014$1.58B+8.1%
- 2013$1.47B+10.4%
- 2012$1.33B-20.1%
- 2011$1.66B+9.7%
- 2010$1.51B+25.6%
- 2009$1.21B-29.2%
- 2008$1.70B-9.5%
- 2007$1.88B-8.3%
- 2006$2.05B-2.7%
- 2005$2.11B-19.0%
- 2004$2.60B-1.5%
- 2003$2.64B+50.2%
- 2002$1.76B-20.2%
- 2001$2.20B+0.5%
- 2000$2.19B+40.4%
- 1999$1.56B+30.3%
- 1998$1.20B+27.0%
- 1997$943.00M+21.8%
- 1996$774.00M+11.2%
- 1995$696.30M+3.7%
- 1994$671.50M+5.9%
- 1993$634.20M-5.9%
- 1992$674.20M+13.5%
- 1991$593.80M+8.5%
- 1990$547.50M+19.9%
- 1989$456.50M—
CapEx values are taken from Pfizer's reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at Pfizer (PFE)
According to Pfizer's latest reported financial statements, the company's current CapEx (TTM) is $2.50B. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
In 2025, Pfizer (PFE) CapEx totalled $2.63B – declined 9.6% year-over-year.
Over 2020–2025 (5 years), Pfizer CapEx expanded at a -1.2% compound annual rate, with a net decline across the window.
Between 2023 and 2025, Pfizer CapEx plunged 32.7%, falling from $3.91B to $2.63B.
Across the available history, CapEx reached its high of $3.91B in 2023 and its low of $456.50M in 1989.
Pfizer Capital Expenditures by Year
Pfizer Capital Expenditures 2025: $2.63B
Pfizer posted CapEx of $2.63B in 2025, declined 9.6% below 2024.
Pfizer Capital Expenditures 2024: $2.91B
In 2024, Pfizer reported CapEx of $2.91B, declined 25.5% below 2023.
Pfizer Capital Expenditures 2023: $3.91B
Pfizer CapEx in 2023 was $3.91B, grew 20.7% from 2022. This figure represents the highest annual value in the available history.
Pfizer Capital Expenditures 2022: $3.24B
2022's CapEx for Pfizer came in at $3.24B, grew 19.4% from 2021.
Pfizer Capital Expenditures 2021: $2.71B
Pfizer CapEx in 2021 was $2.71B.
See more financial history for Pfizer (PFE).
Sector peers by CapEx
Healthcare peers of Pfizer (PFE), ranked by their latest CapEx
| $14.05B | |
| $7.84B | |
| $4.83B | |
| $4.11B | |
| $3.62B | |
| $2.81B | |
| $1.86B | |
| $1.21B |
- $14.05B
- $7.84B
- $4.83B
- $4.11B
- $3.62B
- $2.81B
- $1.86B
- $1.21B
Frequently asked questions
Pfizer (PFE) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation