Pfizer annual debt-to-equity ratio
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2025
Pfizer Debt-to-Equity Ratio Growth & History (PFE)
Pfizer's debt-to-equity ratio was 0.78 for fiscal 2025.
View full Pfizer company overviewPfizer annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.78 | 0.02 | +2.64% |
| 2024 | 2024-12-31 | 0.76 | −0.08 | −9.90% |
| 2023 | 2023-12-31 | 0.84 | 0.43 | +106.54% |
| 2022 | 2022-12-31 | 0.41 | −0.13 | −23.88% |
| 2021 | 2021-12-31 | 0.54 | −0.12 | −17.84% |
| 2020 | 2020-12-31 | 0.65 | −0.19 | −22.94% |
| 2019 | 2019-12-31 | 0.85 | 0.19 | +28.65% |
| 2018 | 2018-12-31 | 0.66 | 0.05 | +7.93% |
| 2017 | 2017-12-31 | 0.61 | −0.10 | −13.71% |
| 2016 | 2016-12-31 | 0.71 | 0.11 | +17.60% |
| 2015 | 2015-12-31 | 0.60 | 0.09 | +16.83% |
| 2014 | 2014-12-31 | 0.51 | 0.04 | +7.59% |
| 2013 | 2013-12-31 | 0.48 | 0.02 | +3.73% |
| 2012 | 2012-12-31 | 0.46 | −0.01 | −2.70% |
| 2011 | 2011-12-31 | 0.47 | −0.03 | −5.47% |
| 2010 | 2010-12-31 | 0.50 | −0.04 | −7.29% |
| 2009 | 2009-12-31 | 0.54 | 0.24 | +80.03% |
| 2008 | 2008-12-31 | 0.30 | — | — |
Pfizer quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-28 | 0.74 | 0.05 | +6.47% |
| Q1 2026 | 2026-03-29 | 0.72 | 0.03 | +4.05% |
| Q4 2025 | 2025-12-31 | 0.78 | 0.02 | +2.64% |
| Q3 2025 | 2025-09-28 | 0.66 | −0.07 | −9.35% |
| Q2 2025 | 2025-06-29 | 0.70 | −0.10 | −12.02% |
| Q1 2025 | 2025-03-30 | 0.69 | −0.07 | −8.76% |
| Q4 2024 | 2024-12-31 | 0.76 | −0.08 | −9.90% |
| Q3 2024 | 2024-09-29 | 0.73 | 0.08 | +11.82% |
| Q2 2024 | 2024-06-30 | 0.79 | 0.13 | +20.01% |
| Q1 2024 | 2024-03-31 | 0.75 | 0.40 | +111.99% |
| Q4 2023 | 2023-12-31 | 0.84 | 0.43 | +106.54% |
| Q3 2023 | 2023-10-01 | 0.66 | 0.26 | +65.73% |
| Q2 2023 | 2023-07-02 | 0.66 | 0.20 | +42.85% |
| Q1 2023 | 2023-04-02 | 0.36 | −0.08 | −19.29% |
| Q4 2022 | 2022-12-31 | 0.41 | −0.13 | −23.88% |
| Q3 2022 | 2022-10-02 | 0.40 | −0.13 | −24.86% |
| Q2 2022 | 2022-07-03 | 0.46 | −0.10 | −17.55% |
| Q1 2022 | 2022-04-03 | 0.44 | −0.14 | −23.87% |
| Q4 2021 | 2021-12-31 | 0.54 | −0.12 | −17.84% |
| Q3 2021 | 2021-10-03 | 0.53 | −0.44 | −45.55% |
| Q2 2021 | 2021-07-04 | 0.56 | −0.43 | −43.34% |
| Q1 2021 | 2021-04-04 | 0.58 | −0.23 | −28.05% |
| Q4 2020 | 2020-12-31 | 0.65 | −0.19 | −22.94% |
| Q3 2020 | 2020-09-27 | 0.97 | 0.14 | +16.70% |
| Q2 2020 | 2020-06-28 | 0.99 | 0.18 | +22.80% |
| Q1 2020 | 2020-03-29 | 0.80 | 0.01 | +1.82% |
| Q4 2019 | 2019-12-31 | 0.85 | 0.19 | +28.65% |
| Q3 2019 | 2019-09-29 | 0.83 | 0.25 | +44.10% |
| Q2 2019 | 2019-06-30 | 0.81 | 0.22 | +38.66% |
| Q1 2019 | 2019-03-31 | 0.79 | 0.21 | +35.71% |
| Q4 2018 | 2018-12-31 | 0.66 | 0.05 | +7.93% |
| Q3 2018 | 2018-09-30 | 0.58 | −0.15 | −20.44% |
| Q2 2018 | 2018-07-01 | 0.58 | −0.17 | −22.45% |
| Q1 2018 | 2018-04-01 | 0.58 | −0.17 | −22.74% |
| Q4 2017 | 2017-12-31 | 0.61 | −0.10 | −13.71% |
| Q3 2017 | 2017-10-01 | 0.72 | 0.03 | +3.89% |
| Q2 2017 | 2017-07-02 | 0.75 | 0.04 | +6.38% |
| Q1 2017 | 2017-04-02 | 0.75 | 0.13 | +20.65% |
| Q4 2016 | 2016-12-31 | 0.71 | 0.11 | +17.60% |
| Q3 2016 | 2016-10-02 | 0.70 | 0.11 | +19.62% |
| Q2 2016 | 2016-07-03 | 0.70 | 0.18 | +34.06% |
| Q1 2016 | 2016-04-03 | 0.62 | 0.09 | +16.95% |
| Q4 2015 | 2015-12-31 | 0.60 | 0.09 | +16.83% |
| Q3 2015 | 2015-09-27 | 0.58 | 0.11 | +22.48% |
| Q2 2015 | 2015-06-28 | 0.53 | 0.03 | +6.37% |
| Q1 2015 | 2015-03-29 | 0.53 | 0.06 | +12.29% |
| Q4 2014 | 2014-12-31 | 0.51 | 0.04 | +7.59% |
| Q3 2014 | 2014-09-28 | 0.48 | 0.01 | +1.36% |
| Q2 2014 | 2014-06-29 | 0.49 | 0.03 | +5.52% |
| Q1 2014 | 2014-03-30 | 0.48 | −0.02 | −3.17% |
| Q4 2013 | 2013-12-31 | 0.48 | 0.02 | +3.73% |
| Q3 2013 | 2013-09-29 | 0.47 | −0.01 | −1.43% |
| Q2 2013 | 2013-06-30 | 0.47 | −0.02 | −3.52% |
| Q1 2013 | 2013-03-31 | 0.49 | 0.02 | +4.61% |
| Q4 2012 | 2012-12-31 | 0.46 | −0.01 | −2.70% |
| Q3 2012 | 2012-09-30 | 0.48 | 0.02 | +4.36% |
| Q2 2012 | 2012-07-01 | 0.48 | 0.01 | +2.86% |
| Q1 2012 | 2012-04-01 | 0.47 | 0.01 | +2.09% |
| Q4 2011 | 2011-12-31 | 0.47 | −0.03 | −5.47% |
| Q3 2011 | 2011-10-02 | 0.46 | −0.05 | −9.58% |
| Q2 2011 | 2011-07-03 | 0.47 | −0.03 | −5.84% |
| Q1 2011 | 2011-04-03 | 0.46 | −0.05 | −10.50% |
| Q4 2010 | 2010-12-31 | 0.50 | −0.04 | −7.29% |
| Q3 2010 | 2010-10-03 | 0.50 | −0.09 | −15.28% |
| Q2 2010 | 2010-07-04 | 0.50 | −0.13 | −20.12% |
| Q1 2010 | 2010-04-04 | 0.51 | — | — |
| Q4 2009 | 2009-12-31 | 0.54 | 0.24 | +80.03% |
| Q3 2009 | 2009-09-27 | 0.59 | — | — |
| Q2 2009 | 2009-06-28 | 0.63 | — | — |
| Q4 2008 | 2008-12-31 | 0.30 | — | — |
Pfizer debt-to-equity ratio trends
Over the last five fiscal years, Pfizer's debt-to-equity ratio increased from 0.65 to 0.78, a change of 0.13. The latest reported quarter, Q2 2026, shows 0.74.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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