Filing Flows › Pfizer (PFE) › Q3 2026 › vs Q3 2025
Pfizer (PFE) Q3 2026 vs Q3 2025 (year over year)
Pfizer's revenue fell $71.0M (-0.4%) from $16.7B in Q3 2025 to $16.6B in Q3 2026. Operating margin 20.4% against 20.0% (+0.4 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 20.4% | 20.0% | +0.4 pts |
| Net margin | 19.6% | 21.3% | -1.7 pts |
| Free cash flow margin | 29.0% | 24.0% | +4.9 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $16.6B | $16.7B | −$71.0M | -0.4% |
| Operating profit | $3.4B | $3.3B | $51.0M | +2% |
| Costs & expenses | $13.2B | $13.3B | −$122M | -0.9% |
| Pre-tax earnings | $3.4B | $3.3B | $51.0M | +2% |
| Cost of revenue | $4.0B | $4.2B | −$144M | -3% |
| Research & development | $3.0B | $2.5B | $470M | +18% |
| SG&A | $3.3B | $3.2B | $93.0M | +3% |
| Other operating costs | $2.9B | $3.4B | −$541M | -16% |
| Net earnings | $3.3B | $3.5B | −$298M | -8% |
| Income tax | $134M | −$216M | $350M | — |
| Depreciation & amortization | $1.6B | $1.7B | −$85.0M | -5% |
| Share-based compensation | $362M | $201M | $161M | +80% |
| Working capital & other | $184M | −$810M | $994M | — |
| Operating cash flow | $5.4B | $4.6B | $772M | +17% |
| Free cash flow (OCF − capex) | $4.8B | $4.0B | $801M | +20% |
| Capital expenditures | $573M | $602M | −$29.0M | -5% |
Questions
How much did Pfizer's revenue grow year over year in Q3 2026?
Pfizer's revenue fell $71.0M (-0.4%) from $16.7B in Q3 2025 to $16.6B in Q3 2026. Operating margin 20.4% against 20.0% (+0.4 pts).