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In 2025, the company reported basic net earnings per common share of 1.37 U.S. dollars. Pfizer generated a net income of about eight billion U.S. dollars in the same period.

The impact of rising costs on earnings per share

The net income of Pfizer dramatically increased around fourfold between 2023 and 2024, evident in the company’s net earnings per share, which increased by over one U.S. dollar. Rising research and development costs can be a contributing factor in the decrease in net income. In relation to revenues, the pharmaceutical industry is one of the biggest investors in research and development.

Revenues increased due to the COVID-19 vaccine

Thanks to record-breaking sales of the COVID-19 vaccine Comirnaty, Pfizer generated its highest total revenues in the years 2021 and 2022. In general, the majority of Pfizer’s revenues comes from the manufacture and sale of its products, and revenues from the company’s domestic market of the United States account for a share of around 60 percent. Pfizer sells its pharmaceutical products in more than 125 countries worldwide, with the United States, China, and Japan being its three largest markets.