What Have Pfizer Stock Holders Really Earned

The dividend is probably the reason investors hold Pfizer (PFE), the maker of medicines such as Eliquis and Padcev. The stock yielded 5.8% at the October 19, 2026 close. Over the past five years, though, the share price has fallen far behind the S&P 500. So take a guess: once every dividend is counted, how did five years of owning Pfizer turn out next to the market?

How Far Has Pfizer Stock Trailed The Market?

From October 11, 2021 to October 19, 2026, Pfizer stock fell 30.0% on price alone. The S&P 500 rose 76.3% over the same period, leaving Pfizer 106.3 percentage points behind the market. A holder tracking only the share price would have watched the position lose value in years when the broad market climbed.

When Pfizer is a large share of what you own, its price matters as much as its dividend checks. See how to protect a concentrated position.

How Much Did Pfizer's Dividends Add?

Reinvesting dividends improves Pfizer's five-year result to a loss of 8.8%. The payouts added 21.2 percentage points to the holder's return. With the share price down, dividends were the only part of the return that helped the holder. The cash shrank the loss a great deal, but it did not turn the investment into a profit.

Did The Dividends Close The Gap For Pfizer Holders?

Not by much. The price gap was too wide, and the market paid dividends too. Here is how Pfizer and the S&P 500 compare, on price alone and with dividends:

With dividends included, the S&P 500 returned 88.1% over the same five years, leaving Pfizer 96.9 percentage points behind. Pfizer did pay more cash. Its dividends added nearly twice the 11.7 points generated by the market's payouts. That extra cash won back only about 9 points, however, meaning Pfizer's dividends closed less than a tenth of the shortfall on price.

What This Means If You Own Pfizer For Income

The past year looked better for an income holder. Pfizer's share price rose 21.5%, and the stock returned 30.0% with dividends, against 17.0% for the S&P 500. Payouts added 8.5 percentage points to Pfizer's return, compared with about 1 point for the S&P 500. Over five years, though, the share price fell by far more than Pfizer's dividends made back.

The cash behind the dividend comes from selling medicines: Biopharma brought in 97.8% of Pfizer's revenue in fiscal 2025. On the August 4, 2026 call, management said Pfizer remains committed to maintaining its dividend and growing it over time.

For a Pfizer income holder, the one number to watch is the gap between Pfizer's return with dividends and the S&P 500's. Pfizer's next report is expected on or around November 3, 2026.

Is Too Much Of Your Wealth Riding On One Stock?

For Pfizer holders, the dividend checks tell a different story from the price chart. When one position grows into a large part of your wealth, a sharp fall can hurt your whole plan, and selling to spread the money out can bring a large tax bill. Our partner advisory firm offers a free strategy review of ways to protect a concentrated position and unwind it with less tax.

Request A Free Strategy Review

Spot an error or want more like this? Tell us in 10 seconds.