Pfizer

Methodology

Pfizer's earnings face significant volatility from COVID product revenue declines and integration of oncology acquisitions like Seagen. Normalizing for pandemic products and focusing on base business plus pipeline is essential. The calculation requires careful adjustment for one-time COVID impacts and assessment of sustainable profitability from core franchises.

Methodology

Pfizer's PEG ratio is distorted by collapsing COVID vaccine revenue creating negative near-term growth despite pipeline investments and acquisitions. The metric needs adjustment for normalized base business and oncology growth rather than total company figures. Compare to large-cap pharma peers while separating pandemic impacts from underlying franchise potential.

Methodology

Pfizer offers an attractive dividend with management committed to maintaining payouts despite COVID revenue declines. The substantial yield adds meaningful value though sustainability depends on successful pipeline execution and acquisition integration. For pharma investors, dividend stability through product cycles matters significantly alongside growth expectations.