Company profile
SEC EDGAR ↗- Industry
- Pharmaceutical Preparations
- Listed
- NYSE: PFE
- Incorporated
- DE
- Headquarters
- New York, NY
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $62.6B
- Net income
- $7.77B
- Total assets
- $208.2B
Latest full fiscal year from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
The analyses
The Bet · Decision Forks
Pfizer Locked In $5.97 Billion of Vaccine Orders Before Shipping a Single Dose
Pfizer is celebrated for taking $2 billion of pure private risk and turning it into a $100 billion year. But it locked in $5.97 billion of guaranteed orders before a single dose shipped — and then watched the windfall fall 42% in twelve months.
8 min
The Adjacency Expansion · Growth & Portfolio
Pfizer Made $57 Billion From COVID. Then It Spent $43 Billion to Replace Itself.
In 2022 COVID products were 57% of Pfizer's revenue. By 2023 they had collapsed 78%, total sales fell 42%, and EPS dropped 93% to $0.37. The acquisition spree that followed wasn't strategy. It was a company outrunning its own cliff.
8 min
The Adjacency Expansion · Growth & Portfolio
Pfizer Spent Two Decades Buying Its Way Out of Its Core. Then It Bought Its Way Back.
Pfizer's animal health, consumer health, and generics arms were sold as diversification. They came attached to pharma megadeals as cargo — and by 2020 Pfizer had spun off all of it to become, by its own 10-K's words, 'a more focused' drugmaker again.
8 min
The Cannibalization Choice · Decision Forks
Pfizer Shed Zoetis, Consumer, Then Upjohn — a Tax-Free Escape Driven by EPS Math
Over a decade Pfizer shed Zoetis, its consumer business, and finally Upjohn — $2.2B raised here, an $8.1B gain there. The story was 'focus on innovation.' The real driver was the EPS math, and a tax-free escape from a declining asset it could not sell clean.
8 min