Pfizer (PFE) FY2017 results: revenue $52.5 billion, down 0.5% on the year
Pfizer Inc. (PFE) reported revenue of $52.5 billion for fiscal 2017, the year ended 31 December 2017, down 0.5% on the year before. Net income was $21.3 billion, up 195.3%, and diluted earnings per share $3.52. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$52.5 billion
-0.5% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$21.3 billion
+195.3% on the year
FY2010FY2017
Diluted EPS
$3.52
+200.9% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
52,546
52,824
48,851
-0.5%
Cost of revenue
11,228
12,322
9,648
-8.9%
Gross profit
41,318
40,502
39,203
+2.0%
Gross margin
78.6%
76.7%
80.3%
Research and development
7,683
7,892
7,690
-2.6%
Selling, general and administrative
14,784
14,837
14,809
-0.4%
Interest expense
1,270
1,186
1,199
+7.1%
Pre-tax income
12,305
8,351
8,965
+47.3%
Income tax
-9,049
1,123
1,990
Effective tax rate
-73.5%
13.4%
22.2%
Net income
21,308
7,215
6,960
+195.3%
Net margin
40.6%
13.7%
14.2%
Diluted EPS
$3.52
$1.17
$1.11
+200.9%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
16,802
16,192
14,688
+3.8%
Capital expenditure
1,956
1,823
1,397
+7.3%
Free cash flow
14,846
14,369
13,291
+3.3%
Free cash flow margin
28.3%
27.2%
27.2%
Cash from investing
-4,741
-7,791
-2,980
Cash from financing
-13,350
-9,228
-10,409
Depreciation and amortisation
6,269
5,757
5,157
+8.9%
Share-based compensation
840
691
669
+21.6%
Buybacks
5,000
5,000
6,160
0.0%
Dividends paid
7,659
7,317
6,940
+4.7%
Dividend per share
$1.30
$1.22
$1.12
+6.6%
Diluted shares, weighted
6,058m
6,159m
6,257m
-1.6%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
71,308
59,544
64,720
+19.8%
Non-controlling interest
348
296
278
+17.6%
Debt
43,491
42,086
38,899
+3.3%
Other liabilities
56,650
69,689
63,563
-18.7%
Total liabilities and equity
171,797
171,615
167,460
+0.1%
Fixed assets
13,865
13,318
13,766
+4.1%
Goodwill
55,952
54,449
48,242
+2.8%
Intangible assets
48,741
52,648
40,356
-7.4%
Investments
25,665
22,371
35,648
+14.7%
Cash and equivalents
1,342
2,595
3,641
-48.3%
Receivables
8,221
8,225
8,176
-0.0%
Inventory
7,578
6,783
7,513
+11.7%
Other assets
10,433
11,226
10,118
-7.1%
Total assets
171,797
171,615
167,460
+0.1%
10-K for the year ended 31 December 2017, filed 28 February 2019: the filing.