Filing Flows › Pfizer (PFE) › R&D spending
Pfizer (PFE) R&D spending by quarter
Pfizer's R&D spending was $3.0B in Q3 2026 (third quarter 2026), +7% from Q2 2026. Over the last 7 quarters it ranged from $2.2B (Q1 2025) to $3.2B (Q4 2025).
| Quarter | R&D spending | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $3.0B | +7% | +18% |
| Q2 2026 | $2.8B | +13% | +13% |
| Q1 2026 | $2.5B | -22% | +13% |
| Q4 2025 | $3.2B | +26% | — |
| Q3 2025 | $2.5B | +3% | — |
| Q2 2025 | $2.5B | +13% | — |
| Q1 2025 | $2.2B | — | — |
Q3 2026 at a glance
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.
Questions
What is Pfizer's R&D spending?
Pfizer's R&D spending was $3.0B in Q3 2026 (third quarter 2026), +7% from Q2 2026.
How has Pfizer's R&D spending changed?
Over the last 7 quarters it ranged from $2.2B (Q1 2025) to $3.2B (Q4 2025).