How does Pfizer (PFE) make money?

Pfizer (PFE) generates revenue primarily from Biopharma Segment, which accounted for 97.8% of total revenue in TTM through Q1 2026. The company reported $63.3B in revenue and converted 11.8% of it into net profit, equivalent to roughly $7.49B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Pfizer (PFE)?

Pfizer (PFE) reported a gross profit margin of 69.3% in TTM through Q1 2026, equivalent to $43.9B in gross profit on $63.3B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Pfizer (PFE)?

Pfizer (PFE) reported an operating profit margin of 23.4% in TTM through Q1 2026, equivalent to $14.8B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Pfizer (PFE)?

Pfizer (PFE) reported a net profit margin of 11.8% in TTM through Q1 2026, equivalent to $7.49B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Pfizer (PFE) profitable?

Yes. Pfizer (PFE) reported $7.49B in net income for TTM through Q1 2026, with a net profit margin of 11.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Pfizer (PFE) invest in research and development?

Pfizer (PFE) invested $12.4B in research and development during TTM through Q1 2026, roughly 19.6% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Pfizer (PFE) spend on capital expenditures?

Pfizer (PFE) spent $2.5B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 4.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Pfizer (PFE) generate?

Pfizer (PFE) generated $9.48B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 15.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Pfizer (PFE)?

Pfizer (PFE) had an effective tax rate of 4.9% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Pfizer (PFE)?

Pfizer (PFE) reports revenue across 2 reportable product segments, led by Biopharma Segment at 97.8% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Pfizer (PFE) generate most of its revenue?

UNITED STATES is the largest geographic market for Pfizer (PFE), accounting for 59.5% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Pfizer Makes Money: 2026 Visual Revenue Map

Pfizer (PFE) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 29, 2026 (reported May 5, 2026).

Pfizer (PFE) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Pfizer (PFE), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Biopharma Segment	$61.9B	97.8%
Segment Reporting, Reconciling Item, Corporate Nonsegment	$1.37B	2.2%
Total	$63.3B	100%

Biopharma Segment$61.9B
Segment Reporting, Reconciling Item, Corporate Nonsegment$1.37B
Total$63.3B

Pfizer (PFE) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Pfizer (PFE), TTM through Q1 2026
Region	Revenue (USD)	% of total
UNITED STATES	$45.8B	59.5%
Developed Rest Of World	$19.6B	25.5%
Emerging Markets	$11.6B	15.1%
Total	$77B	100%

UNITED STATES
Developed Rest Of World
Emerging Markets
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Pfizer (PFE) reports revenue across 2 reportable product segments; the largest segment was Biopharma Segment at 97.8%, followed by Segment Reporting, Reconciling Item, Corporate Nonsegment (2.2%). Geographically, UNITED STATES accounted for 59.5% of revenue, followed by Developed Rest Of World (25.5%) and Emerging Markets (15.1%).

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