Q3 2026 Revenue down 0% year over year to $16.6B · 20¢ of every $1 of revenue kept as net profit · operating margin 20.4%
Pfizer made $16.6B in Q3 2026 (-0.4% Y/Y). Operating margin 20.4%, net earnings $3.3B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Revenue$16.6B
Year over year-0.4%
Operating margin20.4%
Net earnings$3.3B
Operating cash flow$5.4B
Drawing the Sankey…
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Pfizer Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on XEmbed this chart on your site
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What changed this quarter
Revenue was $16.6B in Q3 2026, roughly flat year over year and up 10% from the previous quarter.
Operating profit was $3.4B, a 20.4% margin (up 0.4 points year over year). Total costs fell 1% while revenue was flat. The fastest-growing cost line was Research & development (+18%). Net earnings were $3.2B, down 8% year over year. The effective tax rate was 4.0%.
Operating cash flow was $5.4B (up 17% year over year), 165% of net earnings. Non-cash charges added back $1.6B of depreciation and amortization and $0.36B of share-based compensation. Capital expenditures of $0.57B left free cash flow of $4.8B.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 3, 2026
$16.6B
-0.4%
20.4%
$3.3B
$5.4B
Q2 2026
10-Q
Aug 4, 2026
$15.0B
+3%
-4.3%
−$237M
$835M
Q1 2026
10-Q
May 5, 2026
$14.5B
+5%
21.8%
$2.7B
$2.6B
Q4 2025
10-K
Feb 26, 2026
$17.6B
-1%
-9.4%
−$1.6B
$5.3B
Q3 2025
10-Q
Nov 4, 2025
$16.7B
-6%
20.0%
$3.5B
$4.6B
Q2 2025
10-Q
Aug 5, 2025
$14.7B
+10%
20.9%
$2.9B
−$582M
Q1 2025
10-Q
May 5, 2025
$13.7B
-8%
20.3%
$3.0B
$2.3B
Charts
Latest (Q3 2026): Y/Y 0%, Q/Q +10%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $3.3B, Operating cash flow $5.4B.+1.4% since FY2020: more shares outstanding (issuance, stock pay).Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
MCK — 25% of its revenue · Stated in 10-K (XBRL) · source
COR — 16% of its revenue · Stated in 10-K (XBRL) · source
CAH — 13% of its revenue · Stated in 10-K (XBRL) · source
PLX · Stated in 10-K (named, share not stated) · source
ARVN · Stated in 10-K (named, share not stated) · source
Pfizer against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -0.4% against the peers' median +7%. Operating margin: 20.4% against the peers' median 20.4%.
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.35 statements; tone -0.14 (−1 all cautious, +1 all confident); 5 hedged.
13F: who owns PFE and who is buying
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).
