Pfizer annual free cash flow
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2025
Pfizer Free Cash Flow (FCF) History (PFE)
Pfizer reported $9.07B in free cash flow for fiscal 2025, a decrease of 7.73% from the previous fiscal year, with a free cash flow margin of 14.50%.
View full Pfizer company overviewPfizer free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $9.07B | −$760.0M | −7.73% | +14.50% |
| 2024 | 2024-12-31 | $9.84B | $5.04B | +105.20% | +15.46% |
| 2023 | 2023-12-31 | $4.79B | −$21.24B | −81.59% | +9.41% |
| 2022 | 2022-12-31 | $26.03B | −$3.84B | −12.85% | +28.36% |
| 2021 | 2021-12-31 | $29.87B | $17.69B | +145.29% | +40.56% |
| 2020 | 2020-12-31 | $12.18B | $1.64B | +15.51% | +29.24% |
| 2019 | 2019-12-31 | $10.54B | −$3.30B | −23.85% | +25.77% |
| 2018 | 2018-12-31 | $13.84B | −$1.00B | −6.76% | +33.91% |
| 2017 | 2017-12-31 | $14.85B | $477.0M | +3.32% | +28.25% |
| 2016 | 2016-12-31 | $14.37B | $1.08B | +8.11% | +27.20% |
| 2015 | 2015-12-31 | $13.29B | −$2.59B | −16.33% | — |
| 2014 | 2014-12-31 | $15.88B | −$593.0M | −3.60% | — |
| 2013 | 2013-12-31 | $16.48B | $1.06B | +6.87% | +31.94% |
| 2012 | 2012-12-31 | $15.42B | −$3.16B | −17.01% | +28.21% |
| 2011 | 2011-12-31 | $18.58B | $8.64B | +86.90% | +30.44% |
| 2010 | 2010-12-31 | $9.94B | −$5.44B | −35.37% | +15.26% |
| 2009 | 2009-12-31 | $15.38B | −$1.16B | −6.98% | +31.22% |
| 2008 | 2008-12-31 | $16.54B | $5.06B | +44.14% | +34.24% |
| 2007 | 2007-12-31 | $11.47B | — | — | +23.70% |
Pfizer quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-28 | $302.0M | $1.50B | — | +2.01% |
| Q1 2026 | 2026-03-29 | $2.18B | $408.0M | +23.04% | +15.08% |
| Q4 2025 | 2025-12-31 | $4.50B | −$1.30B | −22.42% | +25.65% |
| Q3 2025 | 2025-09-28 | $4.00B | −$2.06B | −34.01% | +24.02% |
| Q2 2025 | 2025-06-29 | −$1.20B | $1.22B | — | −8.19% |
| Q1 2025 | 2025-03-30 | $1.77B | $1.39B | +358.81% | +12.91% |
| Q4 2024 | 2024-12-31 | $5.80B | $1.61B | +38.32% | +32.67% |
| Q3 2024 | 2024-09-29 | $6.06B | $3.42B | +129.14% | +34.25% |
| Q2 2024 | 2024-06-30 | −$2.42B | −$296.0M | — | −18.20% |
| Q1 2024 | 2024-03-31 | $386.0M | $313.0M | +428.77% | +2.59% |
| Q4 2023 | 2023-12-31 | $4.20B | −$3.38B | −44.65% | +70.76% |
| Q3 2023 | 2023-10-01 | $2.65B | −$2.49B | −48.45% | +19.61% |
| Q2 2023 | 2023-07-02 | −$2.12B | −$9.54B | — | −16.31% |
| Q1 2023 | 2023-04-02 | $73.0M | −$5.83B | −98.76% | +0.39% |
| Q4 2022 | 2022-12-31 | $7.58B | $2.67B | +54.34% | +48.13% |
| Q3 2022 | 2022-10-02 | $5.13B | −$5.08B | −49.73% | +22.67% |
| Q2 2022 | 2022-07-03 | $7.42B | −$3.34B | −31.06% | +26.74% |
| Q1 2022 | 2022-04-03 | $5.90B | $1.91B | +48.04% | +22.98% |
| Q4 2021 | 2021-12-31 | $4.91B | $100.0M | +2.08% | +30.35% |
| Q3 2021 | 2021-10-03 | $10.21B | $8.63B | +545.04% | +42.48% |
| Q2 2021 | 2021-07-04 | $10.76B | $7.66B | +247.39% | +56.94% |
| Q1 2021 | 2021-04-04 | $3.98B | $1.30B | +48.44% | +27.45% |
| Q4 2020 | 2020-12-31 | $4.81B | $1.58B | +49.12% | +42.11% |
| Q3 2020 | 2020-09-27 | $1.58B | −$2.36B | −59.87% | +15.40% |
| Q2 2020 | 2020-06-28 | $3.10B | $966.0M | +45.31% | +31.41% |
| Q1 2020 | 2020-03-29 | $2.68B | $1.45B | +116.80% | +26.62% |
| Q4 2019 | 2019-12-31 | $3.23B | −$884.0M | −21.50% | +175.09% |
| Q3 2019 | 2019-09-29 | $3.94B | −$767.0M | −16.28% | +31.11% |
| Q2 2019 | 2019-06-30 | $2.13B | −$1.29B | −37.72% | +16.07% |
| Q1 2019 | 2019-03-31 | $1.24B | −$359.0M | −22.48% | +9.44% |
| Q4 2018 | 2018-12-31 | $4.11B | −$2.28B | −35.66% | +355.93% |
| Q3 2018 | 2018-09-30 | $4.71B | $273.0M | +6.15% | +35.43% |
| Q2 2018 | 2018-07-01 | $3.42B | $631.0M | +22.60% | +25.42% |
| Q1 2018 | 2018-04-01 | $1.60B | $371.0M | +30.26% | +12.37% |
| Q4 2017 | 2017-12-31 | $6.39B | $1.04B | +19.38% | — |
| Q3 2017 | 2017-10-01 | $4.44B | $134.0M | +3.11% | +33.71% |
| Q2 2017 | 2017-07-02 | $2.79B | −$413.0M | −12.89% | +21.65% |
| Q1 2017 | 2017-04-02 | $1.23B | −$281.0M | −18.65% | — |
| Q4 2016 | 2016-12-31 | $5.35B | $1.06B | +24.84% | — |
| Q3 2016 | 2016-10-02 | $4.30B | −$426.0M | −9.00% | — |
| Q2 2016 | 2016-07-03 | $3.21B | −$627.0M | −16.36% | — |
| Q1 2016 | 2016-04-03 | $1.51B | $1.07B | +241.72% | — |
| Q4 2015 | 2015-12-31 | $4.29B | −$958.0M | −18.27% | — |
| Q3 2015 | 2015-09-27 | $4.73B | $543.0M | +12.97% | — |
| Q2 2015 | 2015-06-28 | $3.83B | $23.0M | +0.60% | — |
| Q1 2015 | 2015-03-29 | $441.0M | −$2.20B | −83.31% | — |
| Q4 2014 | 2014-12-31 | $5.25B | −$62.0M | −1.17% | — |
| Q3 2014 | 2014-09-28 | $4.19B | −$1.43B | −25.51% | — |
| Q2 2014 | 2014-06-29 | $3.81B | $361.0M | +10.47% | +29.82% |
| Q1 2014 | 2014-03-30 | $2.64B | $542.0M | +25.80% | +23.28% |
| Q4 2013 | 2013-12-31 | $5.31B | $853.0M | +19.15% | +39.14% |
| Q3 2013 | 2013-09-29 | $5.62B | $904.0M | +19.16% | +44.47% |
| Q2 2013 | 2013-06-30 | $3.45B | −$279.0M | −7.49% | +26.58% |
| Q1 2013 | 2013-03-31 | $2.10B | −$419.0M | −16.63% | +16.93% |
| Q4 2012 | 2012-12-31 | $4.45B | −$209.0M | −4.48% | +34.66% |
| Q3 2012 | 2012-09-30 | $4.72B | $733.0M | +18.39% | +36.42% |
| Q2 2012 | 2012-07-01 | $3.73B | −$1.81B | −32.73% | +26.68% |
| Q1 2012 | 2012-04-01 | $2.52B | −$1.87B | −42.62% | +16.93% |
| Q4 2011 | 2011-12-31 | $4.66B | −$1.73B | −27.08% | +42.62% |
| Q3 2011 | 2011-10-02 | $3.98B | $10.65B | — | +23.99% |
| Q2 2011 | 2011-07-03 | $5.54B | $1.14B | +25.82% | +32.62% |
| Q1 2011 | 2011-04-03 | $4.39B | $552.0M | +14.37% | +26.61% |
| Q3 2010 | 2010-10-03 | $6.39B | $2.15B | +50.65% | +39.98% |
| Q1 2010 | 2010-04-04 | −$6.67B | −$9.56B | — | −40.21% |
| Q4 2009 | 2009-12-31 | $4.40B | $895.0M | +25.51% | +27.87% |
| Q3 2009 | 2009-09-27 | $3.84B | — | — | +33.04% |
| Q2 2009 | 2009-06-28 | $4.25B | — | — | +38.65% |
| Q1 2009 | 2009-03-29 | $2.89B | — | — | +26.63% |
| Q3 2008 | 2008-09-28 | $3.51B | — | — | +29.30% |
Pfizer free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $12.18B to $9.07B, a compound annual decline of 5.71%. Pfizer's latest reported quarter, Q2 2026, generated $302.0M in free cash flow, an increase of $1.50B year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Pfizer filings at SEC.gov ↗