Pfizer (PFE) FY2011 results: revenue $61.0 billion, down 6.3% on the year
Pfizer Inc. (PFE) reported revenue of $61.0 billion for fiscal 2011, the year ended 31 December 2011, down 6.3% on the year before. Net income was $10.0 billion, up 21.2%, and diluted earnings per share $1.27. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2012.
Revenue
$61.0 billion
-6.3% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$10.0 billion
+21.2% on the year
FY2007FY2011
Diluted EPS
$1.27
+24.5% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
61,035
65,165
49,269
-6.3%
Cost of revenue
12,500
14,788
8,459
-15.5%
Gross profit
48,535
50,377
40,810
-3.7%
Gross margin
79.5%
77.3%
82.8%
Research and development
8,681
9,483
7,824
-8.5%
Selling, general and administrative
17,581
18,973
14,752
-7.3%
Interest expense
1,681
1,799
1,233
-6.6%
Pre-tax income
11,481
9,471
10,674
+21.2%
Income tax
3,621
1,153
2,145
+214.1%
Effective tax rate
31.5%
12.2%
20.1%
Net income
10,009
8,257
8,635
+21.2%
Net margin
16.4%
12.7%
17.5%
Diluted EPS
$1.27
$1.02
$1.23
+24.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
20,240
11,454
16,587
+76.7%
Capital expenditure
1,660
1,513
1,205
+9.7%
Free cash flow
18,580
9,941
15,382
+86.9%
Free cash flow margin
30.4%
15.3%
31.2%
Cash from investing
1,843
-492
-31,272
Cash from financing
-20,607
-11,174
14,481
Depreciation and amortisation
8,701
8,399
4,757
+3.6%
Share-based compensation
419
405
349
+3.5%
Buybacks
9,000
1,000
0.0
+800.0%
Dividends paid
6,234
6,088
5,548
+2.4%
Dividend per share
$0.80
$0.72
n/a
+11.1%
Diluted shares, weighted
7,870m
8,074m
7,045m
-2.5%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
82,190
87,813
90,014
-6.4%
Non-controlling interest
431
452
432
-4.6%
Debt
38,942
44,013
43,220
-11.5%
Other liabilities
66,439
62,736
79,283
+5.9%
Total liabilities and equity
188,002
195,014
212,949
-3.6%
Fixed assets
14,673
17,607
22,780
-16.7%
Goodwill
44,569
43,432
42,376
+2.6%
Intangible assets
51,184
57,558
68,015
-11.1%
Investments
33,084
26,277
23,991
+25.9%
Cash and equivalents
3,182
1,735
1,978
+83.4%
Receivables
13,058
13,380
14,645
-2.4%
Inventory
6,610
8,275
12,403
-20.1%
Other assets
21,642
26,750
26,761
-19.1%
Total assets
188,002
195,014
212,949
-3.6%
10-K for the year ended 31 December 2011, filed 28 February 2012: the filing.