Pfizer Inc (PFE) stock
PFENYSEPharmaceutical PreparationsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 27, 2026Last filing: 10-Q on Nov 3, 2026Score 8/3044% above fair value
$28.83−0.62 (-2.11%)
Close on Nov 12, 2026Market cap $164.32BP/E 41.2Yield 5.97%
Pfizer r&d expenses
Research and development expenses are spending on new products and technology.
Pfizer's R&D Expenses for the twelve months ending Sep 27, 2026 was $11.52B, up 12.2% year over year. For fiscal 2025 it was $10.44B, down 3.6% from the year before. Over ten years it grew 3.1% a year on average. The highest annual figure on record is $11.43B in fiscal 2022.
Annual r&d expenses
| Period | Period end | Value | Change |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $10.44B | -3.6% |
| FY2024 | Dec 31, 2024 | $10.82B | +1.3% |
| FY2023 | Dec 31, 2023 | $10.68B | -6.6% |
| FY2022 | Dec 31, 2022 | $11.43B | +10.3% |
| FY2021 | Dec 31, 2021 | $10.36B | +19.0% |
| FY2020 | Dec 31, 2020 | $8.71B | +3.9% |
| FY2019 | Dec 31, 2019 | $8.39B | +8.1% |
| FY2018 | Dec 31, 2018 | $7.76B | +1.0% |
| FY2017 | Dec 31, 2017 | $7.68B | -2.6% |
| FY2016 | Dec 31, 2016 | $7.89B | +2.6% |
| FY2015 | Dec 31, 2015 | $7.69B | -8.4% |
| FY2014 | Dec 31, 2014 | $8.39B | +25.7% |
| FY2013 | Dec 31, 2013 | $6.68B | -10.7% |
| FY2012 | Dec 31, 2012 | $7.48B | -13.8% |
| FY2011 | Dec 31, 2011 | $8.68B | -8.5% |
| FY2010 | Dec 31, 2010 | $9.48B | +21.2% |
| FY2009 | Dec 31, 2009 | $7.82B | -1.5% |
| FY2008 | Dec 31, 2008 | $7.95B | -1.8% |
| FY2007 | Dec 31, 2007 | $8.09B | – |
Quarterly r&d expenses
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change |
|---|---|---|---|
| Q3 FY2026 | Sep 27, 2026 | $3.02B | +18.5% |
| Q2 FY2026 | Jun 28, 2026 | $2.81B | +13.2% |
| Q1 FY2026 | Mar 29, 2026 | $2.49B | +13.0% |
| Q4 FY2025 | Dec 31, 2025 | $3.21B | +5.6% |
| Q3 FY2025 | Sep 28, 2025 | $2.55B | -2.0% |
| Q2 FY2025 | Jun 29, 2025 | $2.48B | -7.9% |
| Q1 FY2025 | Mar 30, 2025 | $2.20B | -11.6% |
| Q4 FY2024 | Dec 31, 2024 | $3.04B | +7.8% |
| Q3 FY2024 | Sep 29, 2024 | $2.60B | -4.2% |
| Q2 FY2024 | Jun 30, 2024 | $2.70B | +1.8% |
| Q1 FY2024 | Mar 31, 2024 | $2.49B | -0.5% |
| Q4 FY2023 | Dec 31, 2023 | $2.82B | -22.1% |
| Q3 FY2023 | Oct 1, 2023 | $2.71B | +0.6% |
| Q2 FY2023 | Jul 2, 2023 | $2.65B | -5.9% |
| Q1 FY2023 | Apr 2, 2023 | $2.51B | +8.9% |
| Q4 FY2022 | Dec 31, 2022 | $3.62B | +4.9% |
| Q3 FY2022 | Oct 2, 2022 | $2.70B | +0.6% |
| Q2 FY2022 | Jul 3, 2022 | $2.82B | +25.7% |
| Q1 FY2022 | Apr 3, 2022 | $2.30B | +15.4% |
| Q4 FY2021 | Dec 31, 2021 | $3.45B | +29.6% |
| Q3 FY2021 | Oct 3, 2021 | $2.68B | +16.6% |
| Q2 FY2021 | Jul 4, 2021 | $2.24B | +7.7% |
| Q1 FY2021 | Apr 4, 2021 | $1.99B | +19.3% |
| Q4 FY2020 | Dec 31, 2020 | $2.66B | +3.9% |
| Q3 FY2020 | Sep 27, 2020 | $2.30B | +0.7% |
| Q2 FY2020 | Jun 28, 2020 | $2.08B | +12.8% |
| Q1 FY2020 | Mar 29, 2020 | $1.67B | -1.8% |
| Q4 FY2019 | Dec 31, 2019 | $2.56B | +15.7% |
| Q3 FY2019 | Sep 29, 2019 | $2.28B | +13.7% |
| Q2 FY2019 | Jun 30, 2019 | $1.84B | +2.5% |
| Q1 FY2019 | Mar 31, 2019 | $1.70B | -2.3% |
| Q4 FY2018 | Dec 31, 2018 | $2.21B | -4.5% |
| Q3 FY2018 | Sep 30, 2018 | $2.01B | +7.7% |
| Q2 FY2018 | Jul 1, 2018 | $1.80B | +0.6% |
| Q1 FY2018 | Apr 1, 2018 | $1.74B | +1.6% |
| Q4 FY2017 | Dec 31, 2017 | $2.32B | -8.5% |
| Q3 FY2017 | Oct 1, 2017 | $1.87B | – |
| Q2 FY2017 | Jul 2, 2017 | $1.79B | – |
| Q1 FY2017 | Apr 2, 2017 | $1.72B | – |
| Q4 FY2016 | Dec 31, 2016 | $2.53B | – |
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