Pfizer Inc (PFE)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	61,538,000	61,048,000	61,356,000	31,704,000	32,884,000	32,629,000	34,294,000	35,656,000	36,195,000	36,250,000	35,354,000	35,347,000	37,133,000	49,785,000	50,529,000	36,281,000	35,955,000	36,044,000	36,168,000	35,733,000
Total assets	US$ in thousands	227,000,000	215,021,000	220,000,000	195,617,000	197,000,000	195,350,000	195,290,000	183,841,000	181,000,000	179,188,000	169,920,000	158,818,000	154,229,000	178,983,000	178,000,000	166,000,000	167,594,000	170,000,000	156,000,000	155,421,000
Debt-to-assets ratio		0.27	0.28	0.28	0.16	0.17	0.17	0.18	0.19	0.20	0.20	0.21	0.22	0.24	0.28	0.28	0.22	0.21	0.21	0.23	0.23

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $61,538,000K ÷ $227,000,000K
= 0.27

The debt-to-assets ratio of Pfizer Inc. has shown variability over the past eight quarters, ranging from 0.18 to 0.32. In Q4 2023, the ratio was 0.32, indicating that 32% of the company's assets were financed by debt. This represents an increase from the previous quarter's ratio of 0.30.

Compared to Q1 2023, where the debt-to-assets ratio was 0.18, the current ratio suggests that Pfizer has increased its reliance on debt to finance its assets. However, it is important to note that Q1 2023 was an outlier, as the ratio was significantly lower than in other quarters.

Overall, the upward trend in the debt-to-assets ratio may indicate that Pfizer is taking on more debt to fund its operations or investments. Investors and analysts may want to further investigate the reasons behind this trend to assess the company's financial health and risk profile.