Pfizer Inc (PFE)

Financial leverage 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
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
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
Financial leverage ratio		2.55	2.22	2.22	1.94	2.06	2.11	2.24	2.23	2.34	2.37	2.43	2.31	2.44	2.74	2.77	2.55	2.65	2.61	2.62	2.64

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $227,000,000K ÷ $89,014,000K
= 2.55

The financial leverage ratio of Pfizer Inc. has shown fluctuations over the past eight quarters, ranging from 1.94 to 2.54. This ratio indicates that Pfizer has relied more on debt financing than equity financing during this period. The higher the ratio, the greater the company's reliance on debt to finance its operations and growth.

In the most recent quarter (Q4 2023), the financial leverage ratio stands at 2.54, which is the highest among the periods analyzed. This suggests that Pfizer has significantly increased its leverage, potentially to fund strategic initiatives, acquisitions, or investments in its business. However, a higher leverage ratio also indicates higher financial risk, as the company's debt levels are relatively high compared to its equity.

On the other hand, the lowest ratio of 1.94 in Q1 2023 indicates a relatively lower reliance on debt financing during that period. This could imply a more conservative capital structure or lower investments funded through debt.

Overall, the fluctuating trend in the financial leverage ratio of Pfizer Inc. indicates varying levels of debt usage for financing its operations and growth strategies. Investors and stakeholders should closely monitor changes in this ratio to assess the company's financial health and risk profile.