Under the background of the development of digital economy industry, more and more enterprises begin to make attempts of digital change. After constructing the financial performance index system of pharmaceutical enterprises, the study selects 30 pharmaceutical listed companies as the research samples, and evaluates their financial performance by using the principal component analysis method and the collected relevant data. On this basis, the study selects indicators of digitalization degree and puts forward research hypotheses, explores the influence of digitalization degree on the financial performance of pharmaceutical enterprises through correlation analysis, multiple regression analysis and time lag effect analysis, and then puts forward the path of digitalization development of pharmaceutical enterprises in combination with the results of the analysis. The results show that the financial performance of the sample pharmaceutical enterprises is at a medium level, with an average composite score of 0.520, among which pharmaceutical enterprises E10, E6 and E22 have the best performance, with scores above 0.9. The degree of digitization has a negative impact on the financial performance of enterprises at the 1% level, but the coefficient of digital capital investment turns from negative to positive after the lag two period, and there is a time-lag effect of digitization on the financial performance of pharmaceutical enterprises. It is recommended to promote the digitalization of pharmaceutical enterprises by encouraging the cultivation of digital talents, improving the law and cultivating thinking, and building a digital platform.