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Pfizer cash flow statement

In fiscal 2025, Pfizer's operations generated $11.70bn of cash; it spent $2.63bn on capital projects, leaving free cash flow of $9.07bn. It returned $9.77bn in dividends.

Cash flow statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2007Dec 20072008Dec 20082009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations13.418.216.611.520.216.717.716.216.815.812.614.432.629.38.712.711.714.2
Depreciation and amortisation5.25.14.88.48.77.46.35.86.36.45.84.75.25.16.37.06.66.5
Stock-based pay0.40.40.30.40.40.50.50.70.80.90.70.81.20.90.50.90.81.1
Capital spending1.91.71.21.51.71.31.21.82.02.02.02.22.73.23.92.92.62.4
Free cash flow11.516.515.49.918.615.416.514.414.813.810.512.229.926.04.89.89.111.8
Free cash flow after stock pay11.016.215.09.518.214.916.013.714.012.99.911.428.725.24.39.08.310.7
Dividends paid8.08.55.56.16.26.56.67.37.78.08.08.48.79.09.29.59.89.8
Share buybacks10.00.50.01.09.08.216.35.05.012.28.90.00.02.00.00.0——

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Pfizer's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Pfizer.