Question 1

What is Pfizer's P/FCF ratio?

Accepted Answer

Pfizer (PFE) P/FCF ratio is 15.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Pfizer?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Pfizer specifically, the relevant sector benchmark is the current sector median of 19.1×.

Question 5

Is Pfizer's P/FCF ratio high or low?

Accepted Answer

Pfizer's P/FCF ratio of 15.0× is below its own 5-year average of 16.6× and below the sector median of 19.1×. That places the current reading at the 60th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Pfizer's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Pfizer (PFE) P/FCF ratio has ranged from a low of 5.2× in 2009 to a high of 35.8× in 2024. The 5-year average is 16.6× and the 5-year median is 13.1×.

Question 7

What was Pfizer's P/FCF ratio in 2025?

Accepted Answer

Pfizer (PFE) P/FCF ratio at the end of 2025 was 15.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Pfizer's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$142B	$9.08B	15.6×	+0.3×	Dec 31, 2025
2024	$150B	$9.84B	15.3×	-18.6×	Dec 31, 2024
2023	$163B	$4.79B	33.9×	+22.9×	Dec 31, 2023
2022	$288B	$26B	11.1×	-0.0×	Dec 31, 2022
2021	$332B	$29.9B	11.1×	-6.5×	Dec 31, 2021
2020	$205B	$11.6B	17.6×	-2.9×	Dec 31, 2020
2019	$206B	$9.99B	20.6×	+3.0×	Dec 31, 2019
2018	$240B	$13.6B	17.6×	+3.2×	Dec 31, 2018
2017	$205B	$14.3B	14.4×	+0.9×	Dec 31, 2017
2016	$187B	$13.9B	13.4×	-1.1×	Dec 31, 2016
2015	$189B	$13B	14.5×	+2.4×	Dec 31, 2015
2014	$186B	$15.3B	12.2×	+0.7×	Dec 31, 2014
2013	$187B	$16.3B	11.5×	+0.4×	Dec 31, 2013
2012	$174B	$15.7B	11.1×	+2.6×	Dec 31, 2012
2011	$157B	$18.6B	8.4×	-4.9×	Dec 31, 2011
2010	$133B	$9.94B	13.4×	+5.8×	Dec 31, 2010
2009	$117B	$15.4B	7.6×	+0.8×	Dec 31, 2009
2008	$113B	$16.5B	6.8×	-5.9×	Dec 31, 2008
2007	$146B	$11.5B	12.7×	+1.4×	Dec 31, 2007
2006	$175B	$15.5B	11.3×	-1.5×	Dec 31, 2006
2005	$162B	$12.6B	12.8×	-1.0×	Dec 31, 2005
2004	$190B	$13.7B	13.8×	-14.1×	Dec 31, 2004
2003	$254B	$9.1B	27.9×	+6.9×	Dec 31, 2003
2002	$177B	$8.43B	21.0×	—	Dec 31, 2002


Align Technology (ALGN)	17.8×
McKesson (MCK)	17.8×
Gilead Sciences (GILD)	16.9×
DexCom (DXCM)	16.9×
Humana (HUM)	16.4×
Quest Diagnostics (DGX)	16.3×
UnitedHealth Group (UNH)	15.9×
Labcorp Holdings (LH)	15.9×
Becton, Dickinson and (BDX)	14.0×
HCA Healthcare (HCA)	13.5×
Elevance Health (ELV)	13.4×
Incyte (INCY)	12.9×
CVS Health (CVS)	12.4×
Universal Health Services (UHS)	12.2×
Baxter International (BAX)	12.1×
Cardinal Health (CAH)	11.3×
IQVIA (IQV)	11.3×
Bristol-Myers Squibb (BMY)	10.4×
Biogen (BIIB)	10.3×
Zimmer Biomet Holdings (ZBH)	9.6×
Cigna (CI)	9.1×
Viatris (VTRS)	9.1×
DaVita (DVA)	6.9×
Teladoc Health (TDOC)	3.9×
Centene (CNC)	2.5×

P/FCF Ratio for Pfizer (PFE) 2002-2026

P/FCF Ratio daily chart for Pfizer (PFE)

Historical P/FCF Ratio for Pfizer (PFE) from 2002 to 2025

About P/FCF Ratio at Pfizer (PFE)

Pfizer P/FCF Ratio by Year

Pfizer P/FCF Ratio 2025: 15.6×

Pfizer P/FCF Ratio 2024: 15.3×

Pfizer P/FCF Ratio 2023: 33.9×

Pfizer P/FCF Ratio 2022: 11.1×

Pfizer P/FCF Ratio 2021: 11.1×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Pfizer (PFE) Key Financials