Sep. 18 at 5:27 AM
$PFE $SPY $MRNA (PFE) is much broader than its COVID business.
Its portfolio spans oncology, inflammation & immunology, cardiovascular/metabolic disease, infectious diseases, rare diseases, and vaccines.
Q1 2026 gives us a more encouraging signal:
* Revenue excluding Comirnaty/Paxlovid:
+7% operationally
* Overall revenue:
$14.5B
* Eliquis: +13%
* Oncology revenue: +9%
* Padcev: +39%
* Meanwhile, Comirnaty fell 59% and Paxlovid fell 62%.
COVID is collapsing, yet the underlying Pfizer business is still growing.
What you're paying for
Management's 2026 guidance is:
$59.5-62.5B revenue
$2.80-
$3.00 adjusted EPS
At~
$27.65, that means you're paying roughly:
9.2-9.9× 2026 adjusted earnings.
That's cheap for a major pharmaceutical company if Pfizer can stabilize earnings around
$3/share and eventually grow again
