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Pfizer (PFE) Research & Development (2016 - 2025)

Pfizer (PFE) has disclosed Research & Development for 17 consecutive years, with $3.2 billion as the latest value for Q4 2025.

  • On a quarterly basis, Research & Development rose 5.63% to $3.2 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $10.4 billion, a 3.56% decrease, with the full-year FY2025 number at $10.4 billion, down 3.56% from a year prior.
  • Research & Development was $3.2 billion for Q4 2025 at Pfizer, up from $2.5 billion in the prior quarter.
  • In the past five years, Research & Development ranged from a high of $6.9 billion in Q4 2021 to a low of $2.0 billion in Q2 2021.
  • A 5-year average of $2.8 billion and a median of $2.6 billion in 2023 define the central range for Research & Development.
  • Peak YoY movement for Research & Development: rose 19.26% in 2021, then tumbled 61.01% in 2022.
  • Pfizer's Research & Development stood at $6.9 billion in 2021, then crashed by 61.01% to $2.7 billion in 2022, then increased by 4.41% to $2.8 billion in 2023, then increased by 7.82% to $3.0 billion in 2024, then rose by 5.63% to $3.2 billion in 2025.
  • Per Business Quant, the three most recent readings for PFE's Research & Development are $3.2 billion (Q4 2025), $2.5 billion (Q3 2025), and $2.5 billion (Q2 2025).