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