Pfizer (PFE) FY2015 results: revenue $48.9 billion, down 1.5% on the year
Pfizer Inc. (PFE) reported revenue of $48.9 billion for fiscal 2015, the year ended 31 December 2015, down 1.5% on the year before. Net income was $7.0 billion, down 23.8%, and diluted earnings per share $1.11. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2016.
Revenue
$48.9 billion
-1.5% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$7.0 billion
-23.8% on the year
FY2008FY2015
Diluted EPS
$1.11
-21.8% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
48,851
49,605
51,584
-1.5%
Cost of revenue
9,648
9,577
9,586
+0.7%
Gross profit
39,203
40,028
41,998
-2.1%
Gross margin
80.3%
80.7%
81.4%
Research and development
7,690
8,393
6,678
-8.4%
Selling, general and administrative
14,809
14,097
14,355
+5.1%
Interest expense
1,199
1,360
1,414
-11.8%
Pre-tax income
8,965
12,240
15,716
-26.8%
Income tax
1,990
3,120
4,306
-36.2%
Effective tax rate
22.2%
25.5%
27.4%
Net income
6,960
9,135
22,003
-23.8%
Net margin
14.2%
18.4%
42.7%
Diluted EPS
$1.11
$1.42
$3.19
-21.8%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
14,688
17,084
17,684
-14.0%
Capital expenditure
1,397
1,199
1,206
+16.5%
Free cash flow
13,291
15,885
16,478
-16.3%
Free cash flow margin
27.2%
32.0%
31.9%
Cash from investing
-2,980
-5,654
-10,544
Cash from financing
-10,409
-10,187
-14,975
Depreciation and amortisation
5,157
5,537
6,306
-6.9%
Share-based compensation
669
586
523
+14.2%
Buybacks
6,160
5,000
16,290
+23.2%
Dividends paid
6,940
6,609
6,580
+5.0%
Dividend per share
$1.12
$1.04
$0.96
+7.7%
Diluted shares, weighted
6,257m
6,424m
6,895m
-2.6%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
64,720
71,301
76,307
-9.2%
Non-controlling interest
278
321
313
-13.4%
Debt
38,899
36,682
36,489
+6.0%
Other liabilities
63,563
59,262
58,992
+7.3%
Total liabilities and equity
167,460
167,566
172,101
-0.1%
Fixed assets
13,766
11,762
12,397
+17.0%
Goodwill
48,242
42,069
42,519
+14.7%
Intangible assets
40,356
35,166
39,385
+14.8%
Investments
35,648
50,297
46,631
-29.1%
Cash and equivalents
3,641
3,343
2,183
+8.9%
Receivables
8,176
8,401
9,357
-2.7%
Inventory
7,513
5,663
6,166
+32.7%
Other assets
10,118
10,865
13,463
-6.9%
Total assets
167,460
167,566
172,101
-0.1%
10-K for the year ended 31 December 2015, filed 29 February 2016: the filing.