Models
PFIZER LTDPFIZERPharmaceuticals & Biotechnology
₹2,660per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹2,660implied FY26 P/E 13.1× · EV/EBITDA 14.1×
Against CMP ₹4,060.00−34.5%close of 2026-09-10
Growth the CMP implies23.4%revenue, a year for 5 years, on your other inputs
Value after FY3176%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹2,066₹3,846
52-week rangetraded range, a fact not a value
₹4,080₹5,579
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 2,901 |
| PV of terminal value | 9,170 |
| Enterprise value | 12,071 |
| less net debt | 100 |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 12,171 |
| ÷ 4.58 crore shares | ₹2,660 |
76% of the value sits after FY31. Usual when return on capital sits near the cost of capital; the 5 explicit years carry little of it.
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 2,747 | 2,947 | 3,187 | 3,480 | 3,846 |
| 10.50% | 2,537 | 2,703 | 2,899 | 3,135 | 3,422 |
| 11.00% | 2,358 | 2,497 | 2,660 | 2,853 | 3,084 |
| 11.50% | 2,202 | 2,321 | 2,458 | 2,618 | 2,807 |
| 12.00% | 2,066 | 2,168 | 2,285 | 2,420 | 2,577 |
The outlined cell is your model. Green figures sit above the CMP of ₹4,060.00; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 2,197 · 2,648 · 3,195 |
| Draws below the CMP | 100% |
| Rank correlation with discount rate | −0.63 |
| Rank correlation with ebitda margin | +0.59 |
| Rank correlation with revenue growth | +0.44 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY23 | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,425 | 2,193 | 2,281 | 2,520 | 2,784 | 3,077 | 3,400 | 3,757 | 4,151 |
| growth % | (7.1) | (9.6) | 4.0 | 10.4 | 10.5 | 10.5 | 10.5 | 10.5 | 10.5 |
| EBITDA | 842 | 643 | 913 | 855 | 944 | 1,043 | 1,152 | 1,273 | 1,407 |
| margin % | 34.7 | 29.3 | 40.0 | 33.9 | 33.9 | 33.9 | 33.9 | 33.9 | 33.9 |
| less depreciation | (106) | (62) | (61) | (58) | (64) | (71) | (78) | (86) | (95) |
| EBIT | 736 | 581 | 852 | 797 | 880 | 972 | 1,074 | 1,187 | 1,312 |
| less tax on EBIT | (207) | (229) | (253) | (279) | (309) | (341) | |||
| NOPAT | 590 | 651 | 719 | 795 | 878 | 971 | |||
| add depreciation | 106 | 62 | 61 | 58 | 64 | 71 | 78 | 86 | 95 |
| less capex | (65) | (19) | (28) | (25) | (28) | (44) | (64) | (87) | (115) |
| less working-capital build | — | (46) | (51) | (56) | (62) | (69) | |||
| Free cash flow to firm | 291 | 238 | 632 | — | 641 | 695 | 753 | 816 | 883 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | ||||
| Present value | 609 | 594 | 580 | 566 | 552 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 3, dividends at 100% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 797 | 880 | 972 | 1,074 | 1,187 | 1,312 |
| Interest at 8% on debt | (0) | (0) | (0) | (0) | (0) | |
| Profit before tax | 880 | 972 | 1,074 | 1,187 | 1,312 | |
| Profit after tax | 722 | 651 | 719 | 795 | 878 | 971 |
| Dividends | (752) | (651) | (719) | (795) | (878) | (971) |
| Balance sheet, year end | ||||||
| Cash | 103 | 93 | 68 | 26 | (36) | (124) |
| Working capital | 438 | 484 | 535 | 591 | 654 | 722 |
| Net block and other assets | 4,381 | 4,345 | 4,318 | 4,304 | 4,305 | 4,324 |
| Debt | 3 | 3 | 3 | 3 | 3 | 3 |
| Equity | 4,203 | 4,203 | 4,203 | 4,203 | 4,203 | 4,203 |
| Balance check | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash flow | ||||||
| From operations | 669 | 739 | 817 | 903 | 997 | |
| Investing (capex) | (28) | (44) | (64) | (87) | (115) | |
| Financing (dividends) | (651) | (719) | (795) | (878) | (971) | |
| Net change in cash | (10) | (24) | (42) | (63) | (88) | |
| Free cash flow to equity | 641 | 695 | 753 | 815 | 883 | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | 10.5% | 33.9% | 11.00% | 5% | ₹2,660 | (34.5)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.