Pfizer Inc (PFE)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.27 | 0.28 | 0.28 | 0.16 | 0.17 | 0.17 | 0.18 | 0.19 | 0.20 | 0.20 | 0.21 | 0.22 | 0.24 | 0.28 | 0.28 | 0.22 | 0.21 | 0.21 | 0.23 | 0.23 |
| Debt-to-capital ratio | 0.41 | 0.39 | 0.38 | 0.24 | 0.26 | 0.26 | 0.28 | 0.30 | 0.32 | 0.32 | 0.34 | 0.34 | 0.37 | 0.43 | 0.44 | 0.36 | 0.36 | 0.36 | 0.38 | 0.38 |
| 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 |
| 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 |
The solvency ratios of Pfizer Inc. provide insights into the company's ability to meet its long-term financial obligations.
The debt-to-assets ratio has been relatively stable over the quarters, ranging from 0.18 to 0.32. This ratio indicates that Pfizer relies moderately on debt to finance its assets, with 32% of its assets being financed by debt in Q4 2023.
The debt-to-capital ratio has also shown consistency, varying between 0.26 and 0.45. This ratio reveals that debt constitutes about 45% of Pfizer's capital in Q4 2023, indicating a moderate level of leverage in the company's capital structure.
The debt-to-equity ratio indicates the proportion of debt relative to equity in the company's capital structure. Pfizer's debt-to-equity ratio has fluctuated between 0.36 and 0.81, with a higher ratio indicating higher reliance on debt for funding. In Q4 2023, the ratio was 0.81, implying that Pfizer had higher debt levels compared to equity.
The financial leverage ratio, which measures the company's total assets relative to equity, has also been inconsistent, ranging from 1.94 to 2.54. A higher ratio signifies higher financial leverage. In Q4 2023, Pfizer had a financial leverage ratio of 2.54, indicating that the company had significant financial leverage to support its operations.
Overall, Pfizer's solvency ratios suggest that the company maintains a moderate level of debt in its capital structure and has been managing its long-term financial obligations effectively across the quarters analyzed.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 1.45 | 6.67 | 16.66 | 26.85 | 29.01 | 27.67 | 26.46 | 22.25 | 19.43 | 16.84 | 11.62 | 9.24 | 7.58 | 5.07 | 10.98 | 10.99 | 11.55 | 12.28 | 8.48 | 9.11 |
Pfizer Inc.'s interest coverage has exhibited a strong upward trend over the past eight quarters, indicating the company's ability to meet its interest payment obligations comfortably. The interest coverage ratio has significantly improved from 8.68 in Q4 2023 to 42.85 in Q1 2023, showcasing a robust financial position and increasing profitability. This consistent upward trajectory suggests that Pfizer is efficiently generating earnings to cover its interest expenses multiple times over, reflecting a lower risk of default on its debt obligations. Overall, the increasing trend in interest coverage highlights Pfizer's solid financial health and capacity to manage its debt efficiently.