{
  "docId": "019de077-4c75-7299-85f2-8570aa012761",
  "docSlug": "bc27eff688e591dce79cc29b4a79cc4b",
  "documentTitle": "Starboard Value | Activist Presentation Deck | 74 slides",
  "authorId": "starboard-value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 8,
  "pageCount": 74,
  "prevPage": 7,
  "nextPage": 9,
  "slideType": "valuation_reveal",
  "function": "show_valuation_bridge",
  "density": "balanced",
  "nDataPoints": 7,
  "notes": "The chart uses a custom bridge structure to calculate total value lost by adding market cap decline and COVID benefit.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de077-4c75-7299-85f2-8570aa012761/8",
  "deckHref": "/decks/019de077-4c75-7299-85f2-8570aa012761",
  "deckJsonHref": "/decks/019de077-4c75-7299-85f2-8570aa012761.json",
  "deckAnchorHref": "/decks/019de077-4c75-7299-85f2-8570aa012761#slide-8",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.22,
        "x": 0.51,
        "y": 0.22
      },
      "kind": "callout",
      "text": "Represents over $20 billion of lost value while the Company received a $40 billion+ COVID benefit",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "54b6f05a-00bc-40fa-8a3e-0227a54e0e20",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.82,
        "x": 0.09,
        "y": 0.296
      },
      "kind": "chart",
      "text": "Pfizer Share Price: 2018 to Now",
      "attrs": null,
      "subkind": "waterfall-bridge",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d117fb5-feef-4520-809a-05032a3a4b94",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.01,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Bloomberg and public company filings.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c31be413-9ef4-4c44-8e4f-f2cd531865ae",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.25,
        "x": 0.42,
        "y": 0.52
      },
      "kind": "table",
      "text": "(x) Shares Outstanding 5.7 billion = Market Cap Lost $21 billion (+) COVID Benefit ~$40 billion = Total Value Lost $21 – 61 billion",
      "attrs": null,
      "subkind": "valuation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c749ad3f-3dc7-4891-bb5c-5beaae518031",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.92,
        "x": 0.04,
        "y": 0.03
      },
      "kind": "title",
      "text": "The Company Has Lost Approximately $20 to $60 Billion in Market Value Since 2019",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e9134035-ef4e-40fd-ae78-c1b163ae2e5a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall / value bridge",
      "slug": "waterfall-bridge",
      "agent": null,
      "layer": "slide",
      "matchId": "71946ff1-d038-4fb4-97d4-9ca61d79cec1",
      "evidence": "Pfizer Share Price: 2018 to Now",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-bridge",
      "slug": null,
      "matchId": "d1ab130c-efae-4ff3-9229-aef249ec3598",
      "evidence": "The slide uses a bridge structure to reconcile the change in market value.",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}