Pfizer (PFE) Operating Expenses (2009 - 2026)
Pfizer (PFE) reported Operating Expenses of $6.68 billion for Q2 2026, up 14.7% from $5.82 billion a year earlier and up 20.3% from the prior quarter.
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Analysis
Pfizer (PFE) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 28, 2026, Pfizer's Operating Expenses came in at $26.22 billion, up 1.0% year-over-year; for FY2025, it was $25.78 billion, down 7.8% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 4.3% (FY2020 to FY2025).
- By year, Operating Expenses came in at $27.97 billion in FY2024 (-1.5%), $28.39 billion in FY2023 (+7.2%), $26.48 billion in FY2022 (+11.0%) and $23.87 billion in FY2021 (+14.3%).
- Five-year quarterly Operating Expenses spans a low of $5.09 billion in Q1 2022 and a high of $9.96 billion in Q4 2023.
- Year over year, Operating Expenses gained in 1 of the last seven quarters, with an average decline of 5.8%.
- The high point for year-over-year Operating Expenses in five years was Q3 2021 (growth of 25.7%); the low point was Q2 2025 (a decline of 24.1%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $5.55 billion (Q1 2026), $7.97 billion (Q4 2025) and $6.02 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,230.11 Bn | 1,198.70 Bn | 19.71 Bn | 7.95 Bn |
| 2 | Johnson & Johnson | 644.39 Bn | 564.25 Bn | 17.30 Bn | 11.12 Bn |
| 3 | AbbVie | 503.52 Bn | 476.68 Bn | 12.70 Bn | 10.56 Bn |
| 4 | Merck | 363.29 Bn | 317.72 Bn | 12.21 Bn | 12.80 Bn |
| 5 | Novartis Ag | 298.23 Bn | 262.62 Bn | 11.24 Bn | 6.09 Bn |
| 6 | Astrazeneca | 267.53 Bn | 241.29 Bn | 12.86 Bn | 9.70 Bn |
| 7 | Amgen | 241.80 Bn | 197.20 Bn | 7.24 Bn | 6.54 Bn |
| 8 | Gilead Sciences | 195.07 Bn | 169.19 Bn | 6.22 Bn | 18.20 Bn |
| 9 | Pfizer | 173.33 Bn | 120.28 Bn | 10.94 Bn | 6.68 Bn |
| 10 | Vertex Pharmaceuticals | 135.58 Bn | 107.59 Bn | 2.84 Bn | 2.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 28, 2026 | 6.68 Bn |
| Mar 29, 2026 | 5.55 Bn |
| Dec 31, 2025 | 7.97 Bn |
| Sep 28, 2025 | 6.02 Bn |
| Jun 29, 2025 | 5.82 Bn |
| Mar 30, 2025 | 5.91 Bn |
| Dec 31, 2024 | 8.06 Bn |
| Sep 29, 2024 | 6.16 Bn |
| Jun 30, 2024 | 7.67 Bn |
| Mar 31, 2024 | 6.09 Bn |
| Dec 31, 2023 | 9.96 Bn |
| Oct 1, 2023 | 6.15 Bn |
| Jul 2, 2023 | 6.36 Bn |
| Apr 2, 2023 | 5.88 Bn |
| Dec 31, 2022 | 9.06 Bn |
| Oct 2, 2022 | 6.29 Bn |
| Jul 3, 2022 | 6.05 Bn |
| Apr 3, 2022 | 5.09 Bn |
| Dec 31, 2021 | 7.69 Bn |
| Oct 3, 2021 | 6.23 Bn |
API Access
Pfizer Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=PFE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "PFE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=PFE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();