Assets condition analysis
Pfizer’s total assets were $226.5 billion as of December 31, 2023, a increase of 14.9%, compared with $197.2 billion as of December 31, 2022.
Identifiable intangible assets were $64.9 billion and $43.4 billion as of December 31, 2023 and December 31, 2022, respectively.
Goodwill was $67.8 billion and $51.4 billion as of December 31, 2023 and December 31, 2022, respectively.
Total liabilities were $137.2 billion as of December 31, 2023, a increase of $35.9 billion, compared to $101.3 billion as of December 31, 2022.
Long-term debt was $61.5 billion as of December 31, 2023, a increase of $28.6 billion, compared with $32.9 billion.
The increase of total liabilities in fiscal 2023 was due to the increase of long-term debt, which was used to acquire Seagen.
Total current assets were $43.3 billion as of December 31, 2023.
Total current liabilities were $47.8 billion as of December 31, 2023.
The current ratio was 0.9 times for fiscal 2023.
Profitability analysis
Total revenues were $58.5 billion, $100.3 billion and $81.3 billion in 2023, 2022 and 2021, respectively.
Pfizer’s total revenues in 2023 plummeted by 41.7% year-on-year as the sales of Comirnaty and Paxlovid plunged.
Comirnaty’s sales in 2023 was down $26.6 billion or 70% to $11.2 billion, compared with $37.8 billion in 2022.
Paxlovid’s sales in 2023 was down $17.65 billion or 93% to $1.28 billion, compared to $18.93 billion in 2022.
Net income attributable to Pfizer Inc. common stockholders was $2.1 billion, $31.4 billion and $22 billion in 2023, 2022 and 2021, respectively.
Cash flow analysis
Net cash provided by operating activities was $8.7 billion, $29.3 billion and $32.6 billion in 2023, 2022 and 2021, respectively.
Cash dividends paid was $9.25 billion, $9 billion and $8.7 billion in 2023, 2022 and 2021, respectively.
Pfizer’s results of operations for Q1 2024.
Total revenues were $14.9 billion and $18.5 billion in Q1 2024 and Q1 2023, respectively.
Total revenues in Q1 2024 were down 20% year-on-year.
Net income attributable to Pfizer Inc. common stockholders was $3.1 billion and $5.5 billion in Q1 2024 and Q1 2023, respectively.
Net cash provided by operating activities was $1.1 billion and $1.2 billion in Q1 2024 and Q1 2023, respectively.
Conclusion
Total revenues in 2023 plummeted ,and cash flow plunged.
Acquiring companies and total revenues’ drop put the balance sheet pressure.
The company ‘s performance in Q1 2024 declined.
We don’t know that if Pfizer’s past acquisitions will release a large amount of profits.
Just a wild guess, Pfizer would reduce cash dividends and the staff.
We reckon that the reasonable valuation was $60 billion and $80 billion.
The content is for reference only and does not constitute investment advice.
Introduction
Pfizer Inc. is a research-based, global biopharmaceutical company. We apply science and our global resources to bring therapies to people that extend and significantly improve their lives through the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. We work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. We collaborate with healthcare providers, governments and local communities to support and expand access to reliable, affordable healthcare around the world. The Company was incorporated under the laws of the State of Delaware on June 2, 1942.
Most of our revenues come from the manufacture and sale of biopharmaceutical products. We also sell products for the detection of certain illnesses and provide end-to-end R&D services to select innovative biotech companies. We believe that our medicines and vaccines provide significant value for healthcare providers and patients through improved treatment of diseases and improvements in health, wellness and productivity as well as by reducing other healthcare costs, such as emergency room visits or hospitalizations. We seek to enhance the value of our medicines and vaccines and actively engage in dialogues about how we can best work with patients, physicians and payors to prevent and treat disease and improve outcomes. We seek to maximize patient access and evaluate our pricing arrangements and contracting methods with payors to minimize adverse impact on our revenues within the current legal and pricing structures.
