Company / R&D Expense
Pfizer R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$10.4B
FY2025
5-year range
$8.4B / $10.8B
FY2021-FY2025
Trend
-3.6%
vs FY2024
Sector context
#3 of 210
Health Care
What the data says
Among 210 Health Care companies, Pfizer is in the top 1% for r&d expense. R&D Expense has fluctuated over the past 10 years, ranging from $7.7B in FY2017 to $10.8B in FY2024.
Based on SEC 10-K filings.
$10.4B in FY2025 with a 5-year CAGR of +3.7%. Ranks 3rd among 210 companies in Health Care.
Remained stable around $10.4B over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +6.2%
- 5-Year CAGR
- +3.7%
- 10-Year CAGR
- -
Sector benchmark
Top 1% in Health CareTop 1% of 210This company $10.4B Sector average $644.1M
▼
+1520.3% above sector average
Key checks
Key Insights
- 5-year CAGR of +3.7%, indicating consistent growth.
- In FY2025, r&d expense decreased 3.6% year-over-year.
- Ranks #3 out of 210 companies in the Health Care sector.
- Peak r&d expense was recorded in FY2024.
Company context
Key Data Points
- Altman Z-Score 1.09 (distress zone, below 1.8 threshold)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $10.4B | -3.6% |
| FY2024 | $10.8B | +4.5% |
| FY2023 | $10.4B | +19.0% |
| FY2022 | $8.7B | +3.9% |
| FY2021 | $8.4B | -3.7% |
| FY2020 | $8.7B | +3.9% |
| FY2019 | $8.4B | +6.2% |
| FY2018 | $7.9B | +2.6% |
| FY2017 | $7.7B | -8.4% |
| FY2016 | $8.4B | +9.1% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026