# Pfizer (PFE) Forecast Calculator

Interactive five-year financial forecast and DCF for Pfizer. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/pfizer/forecast
- Industry: Healthcare
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 40905000000 | 10542000000 | 17076000000 | 16026000000 |
| 2022 | 41651000000 | 12177000000 | 11717000000 | 9159000000 |
| 2023 | 73636000000 | 29869000000 | 29502000000 | 21979000000 |
| 2024 | 101175000000 | 26031000000 | 39793000000 | 31372000000 |
| 2025 | 59553000000 | 4793000000 | 7348000000 | 2119000000 |

## Frequently asked questions

### What does Pfizer Inc. do?

Pfizer Inc. is a premier global biopharmaceutical company that discovers, develops, manufactures, and sells healthcare products, including innovative medicines and vaccines. The company operates a highly diversified portfolio across multiple therapeutic areas, with a current focus on oncology and internal medicine.

### What are Pfizer's primary revenue drivers?

Pfizer's revenue is largely driven by its Primary Care segment, which includes internal medicine, vaccines like the Prevnar family, and COVID-19 products such as Comirnaty and Paxlovid. Specialty Care and Oncology segments also contribute significantly, with the recent Seagen acquisition bolstering its oncology portfolio.

### What is the assumed revenue growth rate for Pfizer in the financial model?

The provided financial model assumes a revenue growth rate of approximately 9.85% for Pfizer. This growth rate is intended to capture the long-term potential from the Seagen oncology acquisition and internal pipeline, balanced against the impact of upcoming loss of exclusivity for key drugs.

### How does the financial model approach Pfizer's equity valuation?

The financial model uses a sum-of-the-parts equity valuation and pipeline scenario analysis to assess Pfizer. Its purpose is to determine if the current share price accurately reflects the long-term growth potential from the Seagen oncology acquisition and internal pipeline, considering impending patent expirations.

### Can I download an Excel financial model for Pfizer?

Yes, an Excel financial model for Pfizer is available for download. This general corporate model provides a forecast horizon from FY2026 to FY2030 and includes key assumptions for revenue growth, margins, and capital expenditures.

### What is the significance of goodwill and intangible assets on Pfizer's balance sheet?

Goodwill and identifiable intangible assets represent a very high proportion of Pfizer's total assets, approximately 45-55%. This reflects the company's strategy as a transformational acquirer, highlighted by the $43 billion Seagen acquisition and other significant deals.