For the year ending 2025-12-31, PFE had $91M increase in cash & cash equivalents over the period. $9,075M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income from continuing operations before allocation to noncontrolling interests | 7,787 | 8,051 | 2,172 | 31,401 |
| Depreciation and amortization | 6,592 | 7,013 | 6,290 | 5,064 |
| Asset write-offs and impairments | 5,270 | 4,242 | 3,408 | 550 |
| Deferred taxes | -2,133 | -2,102 | -3,442 | -3,764 |
| Share-based compensation expense | 799 | 877 | 525 | 872 |
| Benefit plan contributions in excess of expense/income | 786 | 12 | 787 | 1,158 |
| Inventory write-offs and related charges associated with covid-19 products | 0 | 0 | 6,199 | - |
| Other adjustments, net | 470 | 2,260 | 3,492 | -758 |
| Trade accounts receivable | 263 | 109 | -347 | -261 |
| Inventories | -561 | 854 | 1,169 | -592 |
| Other assets | -1,289 | -3,380 | 663 | 4,506 |
| Trade accounts payable | -469 | -1,023 | -300 | 1,191 |
| Other liabilities | -3,667 | -3,115 | 595 | -1,449 |
| Other tax accounts, net | -2,805 | -1,345 | -982 | -545 |
| Net cash provided by/(used in) operating activities from continuing operations | - | - | 8,700 | 29,267 |
| Net cash provided by/(used in) operating activities from discontinued operations | - | - | 0 | 0 |
| Net cash provided by/(used in) operating activities | 11,704 | 12,744 | 8,700 | 29,267 |
| Purchases of property, plant and equipment | 2,629 | 2,909 | 3,907 | 3,236 |
| Purchases of short-term investments | 14,356 | 10,133 | 30,974 | 36,384 |
| Proceeds from redemptions/sales of short-term investments | 17,959 | 4,128 | 39,264 | 44,821 |
| Net (purchases of)/proceeds from redemptions/sales of short-term investments with original maturities of three months or less | 2,675 | -3,136 | -5,174 | 483 |
| Purchases of long-term investments | 294 | 180 | 204 | 1,913 |
| Proceeds from redemptions/sales of long-term investments | 1,095 | 1,570 | 1,979 | 641 |
| Proceeds from partial sales of investment in haleon | 6,311 | 7,040 | - | - |
| Acquisitions of businesses, net of cash acquired | 6,927 | 0 | 43,430 | 22,997 |
| Dividend received from the consumer healthcare jv | - | 0 | 0 | 3,960 |
| Other investing activities, net | -165 | - | 179 | 192 |
| Net cash provided by/(used in) investing activities from continuing operations | - | - | -32,278 | -15,783 |
| Net cash provided by/(used in) investing activities from discontinued operations | - | - | 0 | 0 |
| Net cash provided by/(used in) investing activities | -1,351 | 2,652 | -32,278 | -15,783 |
| Proceeds from short-term borrowings | 0 | 8,907 | 4,525 | 3,891 |
| Payments on short-term borrowings | 2,199 | 11,226 | 3 | 3,887 |
| Net (payments on)/proceeds from short-term borrowings with original maturities of three months or less | -796 | -2,590 | 3,161 | -222 |
| Proceeds from issuance of long-term debt | 9,678 | 0 | 30,831 | 0 |
| Payments on long-term debt | 6,757 | 2,250 | 2,569 | 3,298 |
| Purchases of common stock | - | 0 | 0 | 2,000 |
| Cash dividends paid | 9,771 | 9,512 | 9,247 | 8,983 |
| Other financing activities, net | -458 | -469 | -631 | -335 |
| Net cash provided by/(used in) financing activities from continuing operations | - | - | - | -14,834 |
| Net cash provided by/(used in) financing activities from discontinued operations | - | - | - | 0 |
| Net cash provided by/(used in) financing activities | -10,304 | -17,140 | 26,066 | -14,834 |
| Effect of exchange-rate changes on cash and cash equivalents and restricted cash and cash equivalents | 41 | -66 | -40 | -165 |
| Net increase/(decrease) in cash and cash equivalents and restricted cash and cash equivalents | 91 | -1,810 | 2,448 | -1,515 |
| Cash and cash equivalents and restricted cash and cash equivalents, at beginning of period | 1,107 | 2,917 | 468 | 1,983 |
| Cash and cash equivalents and restricted cash and cash equivalents, at end of period | 1,197 | 1,107 | 2,917 | 468 |
PFIZER INC (PFE)
PFIZER INC (PFE)