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Pfizer Inc. Message Board

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  • fizrwinnr11 fizrwinnr11 May 16, 2012 12:24 AM Flag

    From Value Line's post-earnings Supplemental Report

    Value line seldom has better than a Neutral rating on Pfizer largely because it insists on using GAAP accounting (notice the $1.25 forecast that it is using).

    Pfizer is the ONLY big, domestic pharma where Value Line uses GAAP - for MRK which last year only reported a few dimes per share in GAAP earnings, Value Line shows the non-GAAP figure of $3.77. Moreover, Value Line shows GAAP results and estimates for Pfizer only for the years 2008 and thereafter; all stats through 2007 are non-GAAP.

    On occasions I've been sorely tempted to cancel my subscription with them but I just can't afford to not be without their 15-year history of revenues, stock price ranges and in most cases non-GAAP earnings.

    However, the commentary and PE multiples are most unfair when Value Line uses GAAP for Pfizer and non-GAAP for everyone else.

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