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PFE, sharp with a 4% yield forecast
PFE Current 52 Target 58 + 12%
Jul 6, 2022
1 minute read
Sales grew 9%
Last 5 quarters
25% 30% 27% -2% 9%
Costs down profit up
Last 5 quarters
-60% -71% -82% -82% -72%
Cashflow higher
Last 5 quarters million dollars
2,791, 3,162, 747, 3,334, 7,108
Balance sheet net cash improved
Last 5 quarters million dollars
-88,144 -97,185 -101,188 -102,069 -98,685
Capital paid improved , a 12% higher target price
Last 5 quarters million dollars
22,967, 25,624, 27,050, 30,410, 36,488
Jul 6, 2022
1 minute read
Sales grew 9%
Last 5 quarters
25% 30% 27% -2% 9%
- Sales grew 9% in the first quarter to 25,661 million dollars 7% above our 24,084 million dollars forecast.
- This brings the average to 16% growth.
- We predict average growth of 4% in this next 12 months to bring sales to 29,935 million dollars in the first quarter 2023.
Costs down profit up
Last 5 quarters
-60% -71% -82% -82% -72%
- The cash cost ratio went from -82% to -72% profit from 3,849 to 7,879 million dollars in the first quarter with non cash gains.
- The average cost ratio is at -76% now.
- We use the average -76% cost ratio to predict a 6,616 million dollars profit in the first quarter 2023.
Cashflow higher
Last 5 quarters million dollars
2,791, 3,162, 747, 3,334, 7,108
- Free cashflow went from 3,334 to 7,108 million dollars in the first quarter with 567 million dollars investment gains.
- Average quarterly Cashflow is at 3,588 million dollars now.
- We assume -1,747 million dollars investment spending which with higher sales gives 5,296 million dollars Cashflow in the first quarter 2023.
Balance sheet net cash improved
Last 5 quarters million dollars
-88,144 -97,185 -101,188 -102,069 -98,685
- Cash increased 1,944 to 2,470 million dollars in the first quarter.
- Liabilities declined 104,013 to 101,155 million dollars so net cash improved -102,069 to -98,685 million dollars .
- With our forecast cashflow & a -10,342 million dollars equity payout -8,745 million dollars liabilities payment net cash will be -89,940 million dollars in 12 months time.
Capital paid improved , a 12% higher target price
Last 5 quarters million dollars
22,967, 25,624, 27,050, 30,410, 36,488
- PFE 9 quarter capital paid improved 30,410 to 36,488 million dollars in the first quarter with + 1,829 million dollars liabilities + 4,249 million dollars equity payouts & will be 55,575 million dollars in12 months time.
- At the current market value of 289,747 million dollars based on our forecasts it’s at 1.53 X assets with a 10 years payback & a 4% yield.
- Our cashflow forecast is 19,087 million dollars which means a 15 X valuation. A 17 X valuation gives a 12% higher target price 58 dollars.
