Who are Pfizer's biggest customers?

McKesson accounts for 25% of Pfizer's revenue (FY2025 10-K). Other disclosed customers: Cencora 16%, Cardinal Health 13%.

PFEPfizer

Healthcare

$30.02+30% 1Y

$30.02

$23.1052 weeks$30.42

Is the business good?

Mixed

The checks split: 5 of 9 health tests passed and returns not propped up by debt.

2 neutral, 2 without data

Fundamental health (F-score)5 / 9SEC EDGAR · Dec 31, 2025

Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.

Where ROE comes from4% ROAderived

A balanced mix of margins, efficiency, and leverage. ROE 8% = margin × turnover × leverage.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

FCF conversiontop 7% of the market

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

How good a business is PFE?

Pfizer keeps 6.8% of every revenue dollar as profit after everything, against 13% for the median Drug Manufacturers - General name.

6.8%

Net margin · Drug Manufacturers - General median 13% · 12 months to Q2 2026

Share count, year on year: −0.12%
Share count, year on year · flat: no meaningful dilution
R&D as % of revenue: 17%
R&D as % of revenue
Gross margin: 73%
Gross margin

Details›

Gross margin12 months to Q2 2026: 73%
Net margin12 months to Q2 2026: 6.8%
Free cash flow margin: 17%
R&D as % of revenue: 17%
Revenue, trailing twelve months: $63.7B
Free cash flow, trailing twelve months: $11.0B
Net income, trailing twelve months: $4.33B

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.

Customers and suppliers

Who buys from PFE and who it buys from, as the companies report it.

25%of revenue comes from McKesson Corporation, the largest of 3 disclosed customers

Customerswho buys

MCKMcKesson Corporation
25%
Share of revenue · FY2025 10-K
CORCencora
16%
Share of revenue · FY2025 10-K
CAHCardinal Health
13%
Share of revenue · FY2025 10-K

Supplierswho it buys from

None disclosed.

A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; PFE’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.

Drug Manufacturers, General

The closest names by size in the same industry