SuperworthPfizer free cash flow PFE
Cash from operations less capital spending, by quarter and over the last twelve months, from 2008.
- Last 12 months, to Jun 28, 2026
- $11B
- Latest quarter, Q2 FY26
- $302M
- Fiscal year 2025
- $9.1B
- −8% on the year before
Pfizer's free cash flow was $11B over the twelve months to Jun 28, 2026, down 12% on a year earlier.
In its latest quarter, Q2 FY26, it was $302M.
Over the five fiscal years to FY2025 it shrank 6% a year on average.
Free cash flow over time
Fiscal year by fiscal year
| Fiscal year | Free cash flow | Change |
|---|---|---|
| FY2025 | $9.1B | −8% |
| FY2024 | $9.8B | +105% |
| FY2023 | $4.8B | −82% |
| FY2022 | $26B | −13% |
| FY2021 | $29.9B | +145% |
| FY2020 | $12.2B | +17% |
| FY2019 | $10.4B | −24% |
| FY2018 | $13.8B | −7% |
| FY2017 | $14.8B | +5% |
| FY2016 | $14.1B | +6% |
| FY2015 | $13.3B | −15% |
| FY2014 | $15.7B | −5% |
| FY2013 | $16.5B | +5% |
| FY2012 | $15.7B | −15% |
| FY2011 | $18.6B | +87% |
Each fiscal year is the twelve months to its fourth quarter.
Quarter by quarter
| Quarter | Ended | Free cash flow | On a year earlier | Last 12 months |
|---|---|---|---|---|
| Q2 FY26 | $302M | n/a | $11B | |
| Q1 FY26 | $2.2B | +23% | $9.5B | |
| Q4 FY25 | $4.5B | −22% | $9.1B | |
| Q3 FY25 | $4B | −34% | $10.4B | |
| Q2 FY25 | −$1.2B | n/a | $12.4B | |
| Q1 FY25 | $1.8B | +359% | $11.2B | |
| Q4 FY24 | $5.8B | +38% | $9.8B | |
| Q3 FY24 | $6.1B | +129% | $8.2B | |
| Q2 FY24 | −$2.4B | n/a | $4.8B | |
| Q1 FY24 | $386M | +429% | $5.1B | |
| Q4 FY23 | $4.2B | −45% | $4.8B | |
| Q3 FY23 | $2.6B | −48% | $8.2B |
Against its peers
Companies in Drug Manufacturers - General nearest Pfizer's size, closest first, today.
| Company | Free cash flow yield |
|---|---|
| PFEPfizer | 6.4% |
| GILDGilead Sciences | 6.7% |
| BMYBristol-Myers Squibb | 9.1% |
| AMGNAmgen | 4.3% |
| MRKMerck | 4.5% |
| ABBVAbbVie | 3.6% |
| JNJJohnson & Johnson | n/m |
| BIIBBiogen | 7.3% |
| LLYEli Lilly and | 1.5% |
| Peer median | 4.5% |
Where Pfizer ranks
What the free cash flow tells you
Cash from operations minus capital spending. The cash the company could hand back or reinvest.
Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.
More on Pfizer
Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.