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Pfizer (PFE) Operating Expenses (2016 - 2025)

Pfizer (PFE) has disclosed Operating Expenses for 17 consecutive years, with $7.6 billion as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 9.17% to $7.6 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $25.3 billion, a 9.47% decrease, with the full-year FY2025 number at $25.3 billion, down 9.47% from a year prior.
  • Operating Expenses was $7.6 billion for Q4 2025 at Pfizer, up from $6.0 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $10.5 billion in Q4 2021 to a low of $4.8 billion in Q2 2021.
  • A 5-year average of $6.6 billion and a median of $6.0 billion in 2024 define the central range for Operating Expenses.
  • Peak YoY movement for Operating Expenses: tumbled 40.02% in 2022, then increased 20.15% in 2023.
  • Pfizer's Operating Expenses stood at $10.5 billion in 2021, then plummeted by 40.02% to $6.3 billion in 2022, then soared by 58.38% to $10.0 billion in 2023, then decreased by 15.66% to $8.4 billion in 2024, then fell by 9.17% to $7.6 billion in 2025.
  • Per Business Quant, the three most recent readings for PFE's Operating Expenses are $7.6 billion (Q4 2025), $6.0 billion (Q3 2025), and $5.8 billion (Q2 2025).