Filing Flows › Pfizer (PFE) › Q3 2026 › vs Q2 2026
Pfizer (PFE) Q3 2026 vs Q2 2026 (quarter over quarter)
Pfizer's revenue rose $1.5B (+10%) from $15.0B in Q2 2026 to $16.6B in Q3 2026. Operating margin 20.4% against -4.3% (+24.7 pts).
Pfizer, Q3 2026: revenue $16.6B (-0.4% year over year), operating margin 20.4%, net earnings $3.3B, operating cash flow $5.4B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.4% | -4.3% | +24.7 pts |
| Net margin | 19.6% | -1.6% | +21.2 pts |
| Free cash flow margin | 29.0% | 2.0% | +26.9 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $16.6B | $15.0B | $1.5B | +10% |
| Operating profit | $3.4B | −$644M | $4.0B | — |
| Costs & expenses | $13.2B | $15.7B | −$2.5B | -16% |
| Pre-tax earnings | $3.4B | −$644M | $4.0B | — |
| Cost of revenue | $4.0B | $4.1B | −$64.0M | -2% |
| Research & development | $3.0B | $2.8B | $207M | +7% |
| SG&A | $3.3B | $3.4B | −$132M | -4% |
| Other operating costs | $2.9B | $5.4B | −$2.5B | -46% |
| Net earnings | $3.3B | −$237M | $3.5B | — |
| Income tax | $134M | −$407M | $541M | — |
| Depreciation & amortization | $1.6B | $1.6B | −$45.0M | -3% |
| Share-based compensation | $362M | $249M | $113M | +45% |
| Working capital & other | $184M | −$799M | $983M | — |
| Operating cash flow | $5.4B | $835M | $4.5B | +544% |
| Free cash flow (OCF − capex) | $4.8B | $302M | $4.5B | 16× |
| Capital expenditures | $573M | $533M | $40.0M | +8% |
Questions
How much did Pfizer's revenue grow quarter over quarter in Q3 2026?
Pfizer's revenue rose $1.5B (+10%) from $15.0B in Q2 2026 to $16.6B in Q3 2026. Operating margin 20.4% against -4.3% (+24.7 pts).