Pfizer (PFE) FY2016 results: revenue $52.8 billion, up 8.1% on the year
Pfizer Inc. (PFE) reported revenue of $52.8 billion for fiscal 2016, the year ended 31 December 2016, up 8.1% on the year before. Net income was $7.2 billion, up 3.7%, and diluted earnings per share $1.17. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$52.8 billion
+8.1% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$7.2 billion
+3.7% on the year
FY2009FY2016
Diluted EPS
$1.17
+5.4% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
52,824
48,851
49,605
+8.1%
Cost of revenue
12,322
9,648
9,577
+27.7%
Gross profit
40,502
39,203
40,028
+3.3%
Gross margin
76.7%
80.3%
80.7%
Research and development
7,892
7,690
8,393
+2.6%
Selling, general and administrative
14,837
14,809
14,097
+0.2%
Interest expense
1,186
1,199
1,360
-1.1%
Pre-tax income
8,351
8,965
12,240
-6.8%
Income tax
1,123
1,990
3,120
-43.6%
Effective tax rate
13.4%
22.2%
25.5%
Net income
7,215
6,960
9,135
+3.7%
Net margin
13.7%
14.2%
18.4%
Diluted EPS
$1.17
$1.11
$1.42
+5.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
16,192
14,688
17,084
+10.2%
Capital expenditure
1,823
1,397
1,199
+30.5%
Free cash flow
14,369
13,291
15,885
+8.1%
Free cash flow margin
27.2%
27.2%
32.0%
Cash from investing
-7,791
-2,980
-5,654
Cash from financing
-9,228
-10,409
-10,187
Depreciation and amortisation
5,757
5,157
5,537
+11.6%
Share-based compensation
691
669
586
+3.3%
Buybacks
5,000
6,160
5,000
-18.8%
Dividends paid
7,317
6,940
6,609
+5.4%
Dividend per share
$1.22
$1.12
$1.04
+8.9%
Diluted shares, weighted
6,159m
6,257m
6,424m
-1.6%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
59,544
64,720
71,301
-8.0%
Non-controlling interest
296
278
321
+6.5%
Debt
42,086
38,899
36,682
+8.2%
Other liabilities
69,689
63,563
59,262
+9.6%
Total liabilities and equity
171,615
167,460
167,566
+2.5%
Fixed assets
13,318
13,766
11,762
-3.3%
Goodwill
54,449
48,242
42,069
+12.9%
Intangible assets
52,648
40,356
35,166
+30.5%
Investments
22,371
35,648
50,297
-37.2%
Cash and equivalents
2,595
3,641
3,343
-28.7%
Receivables
8,225
8,176
8,401
+0.6%
Inventory
6,783
7,513
5,663
-9.7%
Other assets
11,226
10,118
10,865
+11.0%
Total assets
171,615
167,460
167,566
+2.5%
10-K for the year ended 31 December 2016, filed 28 February 2019: the filing.