Pfizer Inc (PFE)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	89,014,000	96,934,000	99,019,000	100,970,000	95,661,000	92,631,000	87,208,000	82,424,000	77,201,000	75,691,000	70,042,000	68,620,000	63,238,000	65,259,000	64,336,000	65,026,000	63,143,000	65,103,000	59,568,000	58,806,000
Debt-to-equity ratio		0.69	0.63	0.62	0.31	0.34	0.35	0.39	0.43	0.47	0.48	0.50	0.52	0.59	0.76	0.79	0.56	0.57	0.55	0.61	0.61

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 eight quarters. In Q4 2023, the ratio stood at 0.81, which indicates that the company had higher financial leverage compared to the previous quarters. This increase suggests that Pfizer may have taken on more debt relative to its equity in that period.

In Q3 and Q2 2023, the debt-to-equity ratio was consistent at 0.66, showing a stable capital structure during that period. However, it was notably higher than the ratios in Q4 2022 and Q3 2022, which were 0.37 and 0.40, respectively.

The lowest ratio observed in recent quarters was in Q1 2023 at 0.36, indicating that Pfizer had a lower level of debt relative to its equity during that period. In contrast, the ratio was elevated in Q2 2022 and Q1 2022, at 0.46 and 0.44, respectively.

Overall, the trend in Pfizer's debt-to-equity ratio shows some variability, with periods of higher and lower leverage. It is crucial for investors and stakeholders to monitor these fluctuations to assess the company's risk exposure and financial stability.