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Pfizer (BSP:PFIZ34) Cyclically Adjusted PB Ratio : 1.98 (As of May. 15, 2024)


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What is Pfizer Cyclically Adjusted PB Ratio?

As of today (2024-05-15), Pfizer's current share price is R$36.32. Pfizer's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was R$18.30. Pfizer's Cyclically Adjusted PB Ratio for today is 1.98.

The historical rank and industry rank for Pfizer's Cyclically Adjusted PB Ratio or its related term are showing as below:

BSP:PFIZ34' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.75   Med: 2.87   Max: 4.7
Current: 1.96

During the past years, Pfizer's highest Cyclically Adjusted PB Ratio was 4.70. The lowest was 1.75. And the median was 2.87.

BSP:PFIZ34's Cyclically Adjusted PB Ratio is ranked worse than
52.17% of 667 companies
in the Drug Manufacturers industry
Industry Median: 1.88 vs BSP:PFIZ34: 1.96

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Pfizer's adjusted book value per share data for the three months ended in Mar. 2024 was R$20.273. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is R$18.30 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pfizer Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Pfizer's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Pfizer Cyclically Adjusted PB Ratio Chart

Pfizer Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.08 3.04 4.58 3.69 1.98

Pfizer Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.87 2.54 2.27 1.98 1.91

Competitive Comparison of Pfizer's Cyclically Adjusted PB Ratio

For the Drug Manufacturers - General subindustry, Pfizer's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Pfizer's Cyclically Adjusted PB Ratio Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Pfizer's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Pfizer's Cyclically Adjusted PB Ratio falls into.



Pfizer Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Pfizer's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=36.32/18.3
=1.98

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Pfizer's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Pfizer's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book=Book Value per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=20.273/129.4194*129.4194
=20.273

Current CPI (Mar. 2024) = 129.4194.

Pfizer Quarterly Data

Book Value per Share CPI Adj_Book
201406 6.753 100.560 8.691
201409 7.232 100.428 9.320
201412 7.483 99.070 9.775
201503 8.580 99.621 11.146
201506 8.434 100.684 10.841
201509 10.561 100.392 13.615
201512 10.165 99.792 13.183
201603 9.413 100.470 12.125
201606 8.853 101.688 11.267
201609 8.481 101.861 10.776
201612 8.222 101.863 10.446
201703 7.669 102.862 9.649
201706 8.082 103.349 10.121
201709 7.981 104.136 9.919
201712 9.821 104.011 12.220
201803 9.669 105.290 11.885
201806 11.219 106.317 13.657
201809 12.670 106.507 15.396
201812 10.764 105.998 13.142
201903 10.158 107.251 12.258
201906 10.320 108.070 12.359
201909 12.119 108.329 14.478
201912 11.705 108.420 13.972
202003 14.303 108.902 16.998
202006 15.025 108.767 17.878
202009 15.854 109.815 18.684
202012 14.610 109.897 17.205
202103 17.281 111.754 20.013
202106 15.726 114.631 17.755
202109 17.803 115.734 19.908
202112 19.420 117.630 21.366
202203 18.341 121.301 19.569
202206 19.676 125.017 20.369
202209 21.638 125.227 22.362
202212 22.337 125.222 23.086
202303 23.292 127.348 23.671
202306 21.285 128.729 21.399
202309 21.198 129.860 21.126
202312 19.312 129.419 19.312
202403 20.273 129.419 20.273

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Pfizer  (BSP:PFIZ34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Pfizer Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Pfizer's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Pfizer (BSP:PFIZ34) Business Description

Address
66 Hudson Boulevard East, New York, NY, USA, 10001-2192
Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales). While it historically sold many types of healthcare products and chemicals, now prescription drugs and vaccines account for the majority of sales. Top sellers include pneumococcal vaccine Prevnar 13, cancer drug Ibrance, and cardiovascular treatment Eliquis. Pfizer sells these products globally, with international sales representing close to 50% of total sales. Within international sales, emerging markets are a major contributor.

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