Pfizer Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-	8,031	2,119	31,372	21,979
Depreciation & Amortization	-	6,994	6,258	5,028	5,104
Asset Writedown & Restructuring Costs	-	4,261	3,440	586	363
Stock-Based Compensation	-	877	525	872	1,182
Other Operating Activities	-	-4,342	-1,485	-2,946	-8,943
Change in Accounts Receivable	-	-109	347	261	-3,811
Change in Inventory	-	-854	-1,169	-591	-1,125
Change in Accounts Payable	-	-1,023	-300	1,191	1,242
Change in Other Net Operating Assets	-	-1,080	-1,050	-6,500	16,498
Operating Cash Flow	-	12,744	8,700	29,267	32,580
Operating Cash Flow Growth	-	46.48%	-70.27%	-10.17%	126.20%
Capital Expenditures	-	-2,909	-3,907	-3,236	-2,711
Cash Acquisitions	-	-	-43,430	-22,997	-
Investment in Securities	-	5,561	15,239	10,642	-19,517
Other Investing Activities	-	-	-180	-192	-318
Investing Cash Flow	-	2,652	-32,278	-15,783	-22,546
Short-Term Debt Issued	-	8,907	7,686	3,891	-
Long-Term Debt Issued	-	-	30,831	-	997
Total Debt Issued	-	8,907	38,517	3,891	997
Short-Term Debt Repaid	-	-13,816	-3	-4,109	-96
Long-Term Debt Repaid	-	-2,250	-2,569	-3,298	-2,004
Total Debt Repaid	-	-16,066	-2,572	-7,407	-2,100
Net Debt Issued (Repaid)	-	-7,159	35,945	-3,516	-1,103
Repurchase of Common Stock	-	-	-	-2,000	-
Common Dividends Paid	-	-9,512	-9,247	-8,983	-8,729
Dividends Paid	-	-9,512	-9,247	-8,983	-8,729
Other Financing Activities	-	-469	-632	-335	16
Financing Cash Flow	-	-17,140	26,066	-14,834	-9,816
Foreign Exchange Rate Adjustments	-	-66	-40	-165	-59
Miscellaneous Cash Flow Adjustments	-	-	1	-	-
Net Cash Flow	-	-1,810	2,449	-1,515	159
Free Cash Flow	-	9,835	4,793	26,031	29,869
Free Cash Flow Growth	-	105.19%	-81.59%	-12.85%	145.29%
Free Cash Flow Margin	-	15.46%	8.05%	25.73%	36.74%
Free Cash Flow Per Share	-	1.73	0.84	4.54	5.23
Cash Interest Paid	-	3,227	2,215	1,442	1,467
Cash Income Tax Paid	-	3,605	3,147	7,867	7,427
Levered Free Cash Flow	-	12,777	5,560	25,485	30,940
Unlevered Free Cash Flow	-	14,709	6,941	26,259	31,747
Change in Working Capital	-	-3,066	-2,172	-5,639	12,804

Source: S&P Global Market Intelligence. Standard template. Financial Sources.