Filing Flows › Pfizer (PFE) › Q1 2026
Pfizer (PFE) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Pfizer (PFE) reported revenue of $14.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -18% from the quarter before. Operating margin was 21.8%, net earnings $2.7B (18.7% of revenue).
Pfizer, Q1 2026: revenue $14.5B (+5% year over year), operating margin 21.8%, net earnings $2.7B, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $14.5B | -18% | +5% |
| Operating profit | $3.2B | — | +13% |
| Net earnings | $2.7B | — | -9% |
| Operating cash flow | $2.6B | -51% | +12% |
| Free cash flow | $2.2B | -52% | +23% |
What changed
Revenue was $14.5B in Q1 2026, up 5% year over year and down 18% from the previous quarter.
Operating profit was $3.2B, a 21.8% margin (up 1.5 points year over year). Of the extra revenue versus Q1 2025, 51% reached operating profit, above the 20% margin then. Total costs grew 3% against revenue growth of 5%. The fastest-growing cost line was Cost of revenue (+25%). Net earnings were $2.7B, down 9% year over year. The effective tax rate was 14.6%.
Operating cash flow was $2.6B (up 12% year over year), 97% of net earnings. Non-cash charges added back $1.6B of depreciation and amortization and $0.27B of share-based compensation. Working capital and other items used $2.0B. Capital expenditures of $0.44B left free cash flow of $2.2B.
Questions
What was Pfizer's revenue in the first quarter 2026?
Pfizer (PFE) reported revenue of $14.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -18% from the quarter before.
Was Pfizer profitable in the first quarter 2026?
Operating profit was $3.2B (21.8% of revenue) and net earnings $2.7B.
Source: Pfizer 10-Q on SEC EDGAR.