Pfizer (PFE) Operating Expenses (2009 - 2026)
Pfizer (PFE) reported Operating Expenses of $5.5 billion for Q1 2026, down 6.97% year-over-year from $5.9 billion in Q1 2025, and down 32.38% on a QoQ basis from $8.1 billion in Q4 2025.
Pfizer (PFE) has 18 years of Operating Expenses data on file, last reported at $5.5 billion in Q1 2026.
- Quarterly Operating Expenses fell 6.97% year-over-year to $5.5 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $25.4 billion (up 29.83% YoY) and the FY2025 annual result came in at $25.8 billion, down 6.38% from the prior year.
- Operating Expenses declined to $5.5 billion in Q1 2026 per PFE's latest filing, from $8.1 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $9.0 billion in Q4 2023 and bottomed at $5.1 billion in Q2 2022.
- The 5-year median for Operating Expenses is $6.1 billion (2022), against an average of $6.4 billion.
- The widest annual swing landed in 2024, when Operating Expenses advanced 19.64%; it then dropped 22.54% in 2025.
- Tracing PFE's Operating Expenses over 5 years: stood at $6.3 billion in 2022, then soared by 43.37% to $9.0 billion in 2023, then sank by 31.47% to $6.2 billion in 2024, then jumped by 32.15% to $8.1 billion in 2025, then plunged by 32.38% to $5.5 billion in 2026.
- Per Business Quant, the three latest PFE Operating Expenses figures stand at $5.5 billion (Q1 2026), $8.1 billion (Q4 2025), and $6.0 billion (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Novartis Ag | 107,124,802.25 Bn | 107,124,802.25 Bn | - | - |
| 2 | Eli Lilly | 969.00 Bn | 963.72 Bn | 16.22 Bn | 6.72 Bn |
| 3 | Johnson & Johnson | 539.46 Bn | 517.41 Bn | 15.96 Bn | 9.59 Bn |
| 4 | AbbVie | 376.92 Bn | 367.57 Bn | 10.78 Bn | 11.01 Bn |
| 5 | Merck | 285.00 Bn | 279.35 Bn | 12.09 Bn | 19.82 Bn |
| 6 | Amgen | 177.58 Bn | 165.55 Bn | 5.87 Bn | 5.95 Bn |
| 7 | Gilead Sciences | 163.22 Bn | 155.50 Bn | 5.52 Bn | 4.37 Bn |
| 8 | Pfizer | 145.86 Bn | 133.09 Bn | -1.21 Bn | 5.50 Bn |
| 9 | Bristol Myers Squibb | 111.90 Bn | 101.44 Bn | 8.07 Bn | 8.25 Bn |
| 10 | Gsk | 88.34 Bn | 83.66 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 29, 2026 | 5.50 Bn |
| Dec 31, 2025 | 8.13 Bn |
| Sep 28, 2025 | 5.97 Bn |
| Jun 29, 2025 | 5.82 Bn |
| Mar 30, 2025 | 5.91 Bn |
| Sep 29, 2024 | 6.16 Bn |
| Jun 30, 2024 | 7.52 Bn |
| Mar 31, 2024 | 6.00 Bn |
| Dec 31, 2023 | 8.98 Bn |
| Oct 1, 2023 | 6.15 Bn |
| Jul 2, 2023 | 6.28 Bn |
| Apr 2, 2023 | 5.88 Bn |
| Oct 2, 2022 | 6.26 Bn |
| Jul 3, 2022 | 6.05 Bn |
| Apr 3, 2022 | 5.09 Bn |
| Oct 3, 2021 | 6.22 Bn |
| Jul 4, 2021 | 5.16 Bn |
| Apr 4, 2021 | 4.79 Bn |
| Sep 27, 2020 | 4.95 Bn |
| Jun 28, 2020 | 5.08 Bn |
| Mar 29, 2020 | 4.25 Bn |
| Dec 31, 2019 | 5.11 Bn |
| Sep 29, 2019 | 5.63 Bn |
| Jun 30, 2019 | 5.21 Bn |
| Mar 31, 2019 | 5.05 Bn |
| Dec 31, 2018 | 5.47 Bn |
| Sep 30, 2018 | 5.50 Bn |
| Jul 1, 2018 | 5.38 Bn |
| Apr 1, 2018 | 5.20 Bn |
| Dec 31, 2017 | 168.00 Mn |
| Oct 1, 2017 | -19.00 Mn |
| Jul 2, 2017 | -45.00 Mn |
| Apr 2, 2017 | -98.00 Mn |
| Dec 31, 2016 | -137.00 Mn |
| Oct 2, 2016 | -33.00 Mn |
| Jul 3, 2016 | 34.00 Mn |
| Apr 3, 2016 | -76.00 Mn |
| Dec 31, 2015 | -67.00 Mn |
| Sep 27, 2015 | 68.00 Mn |
| Jun 28, 2015 | 67.00 Mn |
| Mar 29, 2015 | -66.00 Mn |
| Dec 31, 2014 | 7.37 Bn |
| Sep 28, 2014 | 5.34 Bn |
| Jun 29, 2014 | 5.36 Bn |
| Mar 30, 2014 | 4.70 Bn |
| Dec 31, 2013 | 6.45 Bn |
| Sep 29, 2013 | 5.22 Bn |
| Jun 30, 2013 | 5.27 Bn |
| Mar 31, 2013 | 5.06 Bn |
| Dec 31, 2012 | 7.36 Bn |
| Sep 30, 2012 | 5.69 Bn |
| Jul 1, 2012 | 5.45 Bn |
| Apr 1, 2012 | 6.63 Bn |
| Dec 31, 2011 | 6.52 Bn |
| Oct 2, 2011 | 7.72 Bn |
| Jul 3, 2011 | 7.23 Bn |
| Apr 3, 2011 | 7.49 Bn |
| Dec 31, 2010 | 11.09 Bn |
| Oct 3, 2010 | 7.29 Bn |
| Jul 4, 2010 | 7.84 Bn |
| Apr 4, 2010 | 6.65 Bn |
| Dec 31, 2009 | 12.28 Bn |
| Sep 27, 2009 | 5.11 Bn |
| Jun 28, 2009 | 5.22 Bn |
| Mar 29, 2009 | 5.14 Bn |