Pfizer Inc (PFE)

Debt-to-equity 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-equity ratio		0.69	0.34	0.47	0.59	0.57

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $61,538,000K ÷ $89,014,000K
= 0.69

The debt-to-equity ratio of Pfizer Inc. has fluctuated over the past five years. In 2023, the ratio increased to 0.81 from 0.37 in 2022, indicating a higher level of debt relative to equity. This may suggest that Pfizer has taken on more debt in 2023 compared to the previous year.

The ratio has shown a general upward trend from 2020 to 2023, with the ratio peaking at 0.83 in 2019. This suggests that Pfizer's reliance on debt as a source of financing has been increasing during this period.

Overall, the trend in the debt-to-equity ratio indicates that Pfizer has been increasingly leveraging its operations with debt over the past few years, potentially to fund growth initiatives or other strategic endeavors. Investors and analysts may monitor this ratio closely as high levels of debt can indicate increased financial risk for the company.