PFE · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

PFIZER INC · 2026-08-04 · Importance 59 · Surprise 48 · No source text

Pfizer reported financing cash outflows of $6.519 billion in the first six months of 2026, compared with $8.423 billion in the 2025 period. Net repayments of short-term borrowings decreased by $3.0 billion, while repayments of long-term debt decreased by $2.5 billion; the comparison was partly offset by the absence of a $3.7 billion long-term debt issuance in 2025. Pfizer had access to a $7.0 billion committed revolving credit facility maturing in October 2030, plus $226 million of additional lines of credit, essentially all unused at filing.

Key facts

• As of the date of the filing of this Form 10-Q, Pfizer had access to a $7.0 billion committed revolving credit facility maturing in October 2030. source
• Six months cash provided by/(used in) financing activities for the six months ended June 28, 2026: $(6,519) million compared with $(8,423) million for the six months ended June 29, 2025. source
• The change in financing activities was driven mainly by a $3.0 billion decrease in net repayments of short-term borrowings and a $2.5 billion decrease in repayments of long-term debt, partially offset by non-recurrence of a $3.7 billion long term debt issuance. source
• Six months cash provided by/(used in) investing activities for the six months ended June 28, 2026: $2,891 million compared with $7,225 million for the six months ended June 29, 2025. source
• In addition to the revolving credit facility, Pfizer's lenders have provided an additional $226 million in lines of credit, essentially all expiring within one year, and essentially all lines of credit were unused as of the date of the filing. source
• Moody’s assigned Pfizer a short-term rating of P-1 and long-term rating of A2 with Stable Outlook as of the date of the filing. source
• S&P assigned Pfizer a short-term rating of A-1 and long-term rating of A with Stable Outlook as of the date of the filing. source
• Pfizer believes that with ongoing operating cash flows, financial assets, access to capital markets, revolving credit agreement, and available lines of credit, it has and will maintain the ability to meet liquidity needs to support ongoing operations and obligations for the foreseeable future. source

Impact estimates