Pfizer (PFE) Operating Expenses (2009 - 2026)

Pfizer has disclosed Operating Expenses across 18 years of filings, most recently posting $5.5 billion for Q1 2026.

• In Q1 2026, Operating Expenses fell 6.97% year-over-year to $5.5 billion; the TTM figure through Mar 2026 stood at $25.4 billion (up 29.83% YoY), while the FY2025 annual figure was $25.8 billion, down 6.38% from the prior year.
• Operating Expenses fell to $5.5 billion in Q1 2026, from $8.1 billion in the prior quarter.
• Over the last five years, Operating Expenses for PFE reached as high as $9.0 billion in Q4 2023 and fell as low as $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.
• Annual changes were most pronounced in 2024 — Operating Expenses grew 19.64% — and 2025, when it fell 22.54%.
• A 5-year view of Operating Expenses shows it stood at $6.3 billion in 2022, then surged by 43.37% to $9.0 billion in 2023, then sank by 31.47% to $6.2 billion in 2024, then soared by 32.15% to $8.1 billion in 2025, then plunged by 32.38% to $5.5 billion in 2026.
• According to Business Quant data, Operating Expenses over the past three periods registered $5.5 billion, $8.1 billion, and $6.0 billion for Q1 2026, Q4 2025, and Q3 2025 respectively.