The analysis indicates that while Pfizer's stock is down over 50% from its 2021 high and its earnings payout ratio exceeds 100%, its cash dividend payout ratio is approximately 90%. As of Q2 2026, the pharmaceutical giant held nearly $12.7 billion in cash and short-term investments, sufficient to cover more than a year of dividend payments. Management has also publicly stated its intention to maintain the dividend, despite challenges from patent expirations.