Invesco Dorsey Wright Financial Momentum ETF
Limited financial coverage for PFI.
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Price Chart
About the company
PFI changed its tune in February 2014 but continues to provide an alternate take on US financial firms. The old version of the fund used a multi-factor selection method coupled with a tiered equal-weighting scheme that produced a vastly different portfolio than our neutral benchmark. The new incarnation follows a Dorsey-Wright relative strength index that selects and weights stocks by price momentum.
- CEO
- Richard A. Horowitz
- IPO
- 2006
- Employees
- 321
- HQ
- Downers Grove, IL, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $61.47M
- Div Yield
- 1.00%
- 52W High
- $64.46
- 52W Low
- $51.57
- 50D MA
- $62.02
- 200D MA
- $58.22
- Beta
- 1.02
- RSI (14)
- 41
- Avg Volume
- 10.23K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Pfizer said Q1 2026 beat expectations on revenue and EPS, with strong non-COVID growth, solid launch-product momentum, and reaffirmed full-year guidance amid a clearer post-2028 growth outlook.· May 5, 2026
- Q1 revenue was $14.5 billion, up 2% operationally; adjusted EPS was $0.75 and reported EPS was $0.47, both above expectations.
- Ex-COVID, the underlying business grew about 7% operationally, driven by Padcev, Eliquis, Nurtec, Lorbrena and the Vyndaqel family.
- Launched and acquired products generated $3.1 billion and grew about 22% operationally; Seagen products grew 20% operationally and Nurtec grew 41% operationally.
- Management reiterated 2026 guidance and highlighted $59.5 billion-$62.5 billion of revenue and adjusted EPS of $2.80-$3.00.
- Pfizer said Vyndamax patent settlements and the Belgium court ruling on Comirnaty improve confidence in post-2028 revenue growth, cash flow and dividend support.
Pfizer reported first-quarter 2026 revenue of $14.5 billion, an operational increase of 2%; excluding COVID products, underlying business revenue grew approximately 7% operationally. Reported diluted EPS was $0.47 and adjusted diluted EPS was $0.75. Adjusted gross margin was approximately 76%, adjusted operating margin was 38%, and total adjusted operating expenses were $5.5 billion, up 4% operationally. Launch and acquired products contributed $3.1 billion in revenue and grew about 22% operationally. For the full year 2026, Pfizer reaffirmed revenue guidance of $59.5 billion to $62.5 billion and adjusted EPS guidance of $2.80 to $3.00, with adjusted gross margins expected in the mid-70s. Management also said it expects about $700 million of savings from Phase I manufacturing optimization in 2026, around $175 million of which was realized in Q1.
Albert Bourla emphasized that Pfizer had a strong start to the year and said the company is delivering on current commitments while investing for future growth. He highlighted 3 positive Phase III readouts, progress on roughly 20 planned pivotal study starts, and several pipeline updates across oncology, obesity, vaccines and inflammation/immunology. Bourla also pointed to legal wins around Vyndamax and Comirnaty as improving the company’s growth profile and cash flow outlook after 2028, reinforcing confidence in a high single-digit revenue CAGR starting in 2029.
Dave Denton said the quarter reflected disciplined execution, strong commercial performance and cost control. He cited Q1 revenue of $14.5 billion, adjusted EPS of $0.75, adjusted gross margin of about 76%, adjusted operating margin of 38%, and operating cash flow of $2.6 billion; leverage ended at about 2.8x. He said Pfizer remains on track to deliver the majority of $7.2 billion in total net cost savings by the end of 2026, expects about $700 million of manufacturing optimization savings this year, and noted the company returned $2.4 billion to shareholders via the dividend while investing $2.5 billion in internal R&D. He also said the $1.65 billion net proceeds from the ViiV stake sale give Pfizer about $7 billion of business development capacity, and that leverage is expected to stay around current levels or slightly higher through the LOE transition period.
Analysts focused on the timing and scope of upcoming data readouts, including ADHD/obesity-related disclosure at ADA, as well as the outlook for key oncology assets such as SV and mevrometostat. Management said ADA will include detailed VESPER-3 data, VESPER-1 open-label extension data and VESPER-2 weekly danuglipron data, but not amylin mono data until the second half of the year. On oncology, Chris Boshoff said SV’s second-line study is powered for overall survival and should read out midyear, while MEVPRO-1 for mevrometostat is expected to read out in the middle or second half of 2026. Analysts also probed business development, dividends and buybacks; management said it is not pursuing a mega-merger now, is open to value-creating deals, and that share repurchases are coming back into greater consideration as cash flow visibility improves.
The call showed broad commercial momentum: non-COVID growth was 7% operationally, launch/acquired products were up 22%, and several brands showed strong traction, including Nurtec, Seagen products and the Vyndaqel family. Management sounded more confident about the long-term model after the Vyndamax settlement and the Comirnaty legal ruling, saying those developments strengthen cash flow, dividend support and the post-2028 growth trajectory.
Pfizer is still facing LOE headwinds in the near term, and management said leverage may stay around current levels or slightly higher through the transition period. COVID-related products remain a drag, with Paxlovid likely pressured by low disease levels and Comirnaty sales expected to be back-half weighted; Europe also saw a Q1 decline tied to contract timing, not vaccination strength. Several pipeline programs still need to deliver, and management acknowledged that future growth depends on risk-adjusted pipeline readouts and execution across multiple assets.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 0.0%
- Shares Outstanding
- 1.00M
- Float Shares
- 0
of shares held by institutions
37 13F filers
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Spc Financial, Inc. | 18.10K | ▼ 24 |
| Sunbelt Securities, Inc. | 3 | 0 |
Our PFI coverage
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