Stock

Pfizer

PFE
50
Drug Manufacturers - General · Healthcare
Also trades as: PFE.DE EUR 26.30 (-1.11%)
Price
$29.58
+0.14 (+0.48%)
Market Cap
$168.60B
Winston Score
50
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 18, 2026 · filings through Jun 28, 2026

§How the score breaks down

Quality
Strong
23/30
Growth
Weak
2/20
Cash Flow
Exceptional
9/10
Stability
Good
6/10
Valuation
Good
6/10
Ownership
Weak
1/15
Dividends
Good
3/5

50 of 100 counted points = Winston Score 50.

§Winston Score History

The full picture

Pfizer is one of the largest pharmaceutical companies in the world. It discovers, manufactures, and sells prescription medicines and vaccines to hospitals, pharmacies, doctors, and governments. Its well-known products include the Prevnar vaccine, the blood thinner Eliquis, and the COVID-19 vaccine it developed with BioNTech.

Pfizer makes most of its money by selling patented drugs at premium prices, then earning royalties and licensing fees on some products. It operates in over 125 countries and generates roughly half its revenue outside the United States. Its main competitive advantage is its large portfolio of patented medicines, which block competitors for years, along with its massive research and manufacturing infrastructure. The biggest risk Pfizer faces is patent expiration — several of its top-selling drugs will lose patent protection by the late 2020s, which could sharply reduce revenue unless new drugs from its pipeline successfully replace those sales.

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Share count broadly stable

−0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 5.71B (2021) → 5.69B (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
72.8%
Premium pricing power — 72.8% gross margin
Profit after running costs
Operating Margin
31.3%
Excellent — 31.3% operating margin
Return on the money invested
ROCE
10.8%
Below par — 10.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
-0.2%
Shrinking sales (-0.2% YoY)
Profit growth
EPS YoY
-60.1%
Earnings shrinking (-60.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
309%
Turns 309% of profit into real cash
Spare cash per sale
FCF Margin
17.2%
Converts sales into free cash efficiently (17.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.74
Moderate — manageable debt (0.74)
Covers its interest
Interest Cover
5.92x
Adequate interest coverage (5.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
39.1x
Pricey — P/E 39.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+28.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (39.1 → 11.1)

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Dividends

Dividend
Dividend Yield
6.28%
Healthy income — 6.28% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
+0.6%
Dividend flat
Payout Ratio
226%
no trend
Paying out more than the last 12 months of profit. The dividend is being funded from cash or borrowing, not this year’s earnings.

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