Pfizer Inc (PFE)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,004,000 | 10,392,000 | 22,702,000 | 31,922,000 | 34,700,000 | 33,118,000 | 31,972,000 | 27,182,000 | 23,831,000 | 20,971,000 | 14,275,000 | 11,500,000 | 9,529,000 | 6,181,000 | 15,786,000 | 16,006,000 | 16,609,000 | 17,246,000 | 10,699,000 | 11,088,000 |
| Revenue (ttm) | US$ in thousands | 58,497,000 | 68,538,000 | 77,944,000 | 92,952,000 | 100,331,000 | 100,771,000 | 101,921,000 | 92,738,000 | 81,285,000 | 63,407,000 | 51,332,000 | 44,201,000 | 41,650,000 | 47,096,000 | 47,667,000 | 49,131,000 | 50,098,000 | 51,534,000 | 52,176,000 | 52,443,000 |
| Pretax margin | 1.72% | 15.16% | 29.13% | 34.34% | 34.59% | 32.86% | 31.37% | 29.31% | 29.32% | 33.07% | 27.81% | 26.02% | 22.88% | 13.12% | 33.12% | 32.58% | 33.15% | 33.47% | 20.51% | 21.14% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,004,000K ÷ $58,497,000K
= 1.72%
Pfizer Inc.'s pretax margin has displayed fluctuations over the past eight quarters. The company experienced a notable decrease in Q4 2023, with a pretax margin of 1.81%, compared to the substantial increase in the previous quarter, Q3 2023, where the margin stood at 15.20%. This decline may raise concerns regarding the company's ability to efficiently control costs and generate profits before taxes.
Looking at the trend over the past year, Pfizer's pretax margin has generally been in a healthy range, consistently above 29% since Q2 2022. This suggests that Pfizer has been effectively managing its operating expenses and generating strong profitability levels. However, the recent dip in Q4 2023 warrants further investigation to understand the underlying factors impacting the company's profitability in that quarter.
It will be crucial for stakeholders to closely monitor Pfizer's future financial performance to assess whether the Q4 2023 pretax margin is an isolated event or part of a developing trend. Continued analysis and strategic decision-making will be key for Pfizer to maintain and enhance its financial health and sustainable growth.
Peer comparison
Dec 31, 2023