PFE Pfizer margins

Relative Growth: Rel. Growth: 10

Relative Strength: Rel. Strength: 53

Relative Valuation: Rel. Valuation: 39

Relative Profitability: Rel. Profitability: 46

Gross margin

73.2%

Operating margin

6.6%

EBITDA margin

16.9%

Net margin

6.8%

Based on the latest figures, Pfizer reports a gross margin of 73.2%, an operating margin of 6.6%, an EBITDA margin of 16.9%, and a net margin of 6.8%. Gross margin led the available margin improvements with a 1.1 percentage-point increase, while EBITDA margin fell by 10.2 percentage points.

PFE margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Pfizer recorded average margins of 67.85% gross, 8.27% operating, 18.95% EBITDA, and 9.09% net. At Pfizer, gross margin is above its three-year average, while operating, EBITDA, and net margins are below their three-year averages.

PFE margin expansion

Year-over-year margin changes in percentage points

The largest positive change was in gross margin, up 1.1 percentage points. The expansion was limited to gross margin, while operating margin contracted by 9.9 percentage points, EBITDA margin by 10.2 percentage points, and net margin by 10 percentage points.

Gross margin expansion

1.1pp

Operating margin expansion

-9.9pp

EBITDA margin expansion

-10.2pp

Net margin expansion

-10pp

PFE Gross margin

In the last 3 years, Pfizer had an average gross margin of 67.85%. Against its three-year average, Pfizer's gross margin is currently 73.2%, 5.4 percentage points above its three-year average. Looking back over the last 3 years, Pfizer's gross margin reached 74.3% at its highest point in Dec 2025 and 58.1% at its lowest in Dec 2023.

PFE Operating margin

Pfizer's operating margin averaged 8.27% in the last 3 years. Compared with its three-year average, Pfizer's current operating margin is 6.6% and is 1.7 percentage points below its three-year average. Over the last 3 years, Pfizer's operating margin peaked at 16.5% in Jun 2025 and reached a low of -7.4% in Jun 2024.

PFE EBITDA margin

Pfizer's EBITDA margin averaged 18.95% across the past 3 years. Compared with its three-year average, Pfizer's current EBITDA margin is 16.9% and is 2.1 percentage points below its three-year average. Over the last 3 years, Pfizer's EBITDA margin peaked at 27.1% in Jun 2025 and reached a low of 4.5% in Jun 2024.

PFE Net margin

Pfizer's net margin averaged 9.09% over the last 3 years. Compared with its three-year average, Pfizer's current net margin is 6.8% and is 2.3 percentage points below its three-year average. Over the last 3 years, Pfizer's net margin peaked at 16.8% in Jun 2025 and reached a low of -4.6% in Jun 2024.

PFE margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 73.2%, PFE is above the Healthcare sector, the industry and its peers average. Compared to its Healthcare sector average of 68.5%, Pfizer's gross margin is 7% higher.

PFE margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Pfizer's gross margin?

For the period ending Jun 28, 2026, PFE recorded a gross margin of 73.2%.

What is Pfizer's operating margin?

As of Jun 28, 2026, PFE has an operating margin of 6.6%.

What is Pfizer's EBITDA margin?

As of Jun 28, 2026, PFE has an EBITDA margin of 16.9%.

What is Pfizer's net margin?

For the period ending Jun 28, 2026, PFE recorded a net margin of 6.8%.

What are the average margins of PFE?

Over the past 3 years, PFE reported average margins of 67.9% gross, 8.3% operating, 19.0% EBITDA, and 9.1% net.

What are the highest historical margins of PFE?

Across the 5-year period, PFE posted its highest margins at 74.3% gross in Dec 2025, 34.3% operating in Dec 2022, 39.7% EBITDA in Apr 2023, and 31% net in Dec 2022.

What are the lowest historical margins of PFE?

Across the 5-year period, PFE posted its lowest margins at 58.1% gross in Dec 2023, -7.4% operating in Jun 2024, 4.5% EBITDA in Jun 2024, and -4.6% net in Jun 2024.