Pfizer Inc (PFE)

Debt-to-capital ratio

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Long-term debt US$ in thousands 61,538,000 32,884,000 36,195,000 37,133,000 35,955,000
Total stockholders’ equity US$ in thousands 89,014,000 95,661,000 77,201,000 63,238,000 63,143,000
Debt-to-capital ratio 0.41 0.26 0.32 0.37 0.36

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $61,538,000K ÷ ($61,538,000K + $89,014,000K)
= 0.41

The debt-to-capital ratio of Pfizer Inc. has fluctuated over the past five years. In 2023, the ratio stands at 0.45, indicating that 45% of the company's capital structure is funded by debt. This represents an increase from 2022 when the ratio was 0.27. The rising trend in the debt-to-capital ratio from 2022 to 2023 suggests a higher reliance on debt financing compared to equity financing. However, it is noteworthy that in 2023, the ratio is still within a reasonable range and does not raise significant concerns about the company's financial leverage. Over the five-year period, the ratio reached its peak in 2019 at 0.45, dropped to 0.33 in 2021, and then increased again in 2023. The variations in the debt-to-capital ratio reflect changes in Pfizer's capital structure and financing decisions over the years.


Peer comparison

Dec 31, 2023


See also:

Pfizer Inc Debt to Capital