Filing Flows › Pfizer (PFE) › Q3 2026
Pfizer (PFE) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 3, 2026
Pfizer (PFE) reported revenue of $16.6B for the third quarter 2026 (Q3 2026), -0.4% from a year earlier and +10% from the quarter before. Operating margin was 20.4%, net earnings $3.3B (19.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $16.6B | +10% | -0.4% |
| Operating profit | $3.4B | — | +2% |
| Net earnings | $3.3B | — | -8% |
| Operating cash flow | $5.4B | +544% | +17% |
| Free cash flow | $4.8B | 16× | +20% |
What changed
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.
Questions
What was Pfizer's revenue in the third quarter 2026?
Pfizer (PFE) reported revenue of $16.6B for the third quarter 2026 (Q3 2026), -0.4% from a year earlier and +10% from the quarter before.
Was Pfizer profitable in the third quarter 2026?
Operating profit was $3.4B (20.4% of revenue) and net earnings $3.3B.
Source: Pfizer 10-Q on SEC EDGAR.