Regeneron Pharmaceuticals Inc
REGNHealthcare|Biotechnology|USA
$763.04
+1.19 (+0.16%)
DCF (FCF)
$641.30
Tangible Book
$283.77
Graham Number
$532.32
Earnings Power
$496.16
Financials
Financial Snapshot
Market Cap
$80.67B
Enterprise Value
$5.90B
Revenue (TTM)
$14.34B
Net Income (TTM)
$4.50B
Cash & Equivalents
$8.61B
Net Cash/Share
$-6.59
Free Cash Flow (TTM)
$3.77B
Operating CF (TTM)
$4.98B
Debt/Equity
0.09
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $1.04B | $1.41B | $2.81B | $3.21B | $3.59B | $5.69B | $7.74B | $10.84B | $9.01B | $8.61B | $8.61B | |
| Operating Cash Flow | $1.49B | $1.31B | $2.20B | $2.43B | $2.62B | $7.08B | $5.01B | $4.59B | $4.42B | $4.98B | $4.98B | |
| Free Cash Flow | $974.0M | $1.03B | $1.81B | $2.00B | $2.00B | $6.53B | $3.40B | $3.67B | $3.54B | $3.77B | $3.77B | |
| Capital Expenditure | $-511.9M | $-272.6M | $-383.1M | $-429.6M | $-614.6M | $-551.9M | $-1.62B | $-926.4M | $-881.6M | $-1.21B | $-1.21B | |
| Financing Cash Flow | $-700.5M | $-24.4M | $-77.1M | $-252.1M | $-1.97B | $-1.01B | $-1.01B | $-1.79B | $-2.20B | $-3.72B | $-3.72B |
R&D Spending
R&D (TTM)
$5.85B
R&D Intensity
40.8%
R&D Growth YoY
+0.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.86B | $5.87B | $5.15B | $6.56B | $8.50B | $16.07B | $12.17B | $13.12B | $14.20B | $14.34B | $14.34B | |
| R&D Expense | $2.05B | $2.08B | $1.47B | $2.45B | $2.73B | $2.86B | $3.59B | $4.44B | $5.13B | $5.85B | $5.85B | |
| R&D % of Revenue | 42.2% | 35.3% | 28.5% | 37.4% | 32.2% | 17.8% | 29.5% | 33.8% | 36.1% | 40.8% | 40.8% | |
| SG&A | $1.18B | $1.32B | $1.13B | $1.34B | $1.35B | $1.82B | $2.12B | $2.63B | $2.95B | $2.70B | $2.70B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.86B | $5.87B | $5.15B | $6.56B | $8.50B | $16.07B | $12.17B | $13.12B | $14.20B | $14.34B | $14.34B | |
| Cost of Goods Sold | $299.7M | $397.1M | $417.5M | $765.1M | $1.12B | $2.44B | $1.56B | $1.82B | $1.97B | $2.10B | $2.10B | |
| Gross Profit | $4.56B | $5.48B | $4.73B | $5.79B | $7.38B | $13.63B | $10.61B | $11.30B | $12.23B | $12.24B | $12.24B | |
| R&D | $2.05B | $2.08B | $1.47B | $2.45B | $2.73B | $2.86B | $3.59B | $4.44B | $5.13B | $5.85B | $5.85B | |
| SG&A | $1.18B | $1.32B | $1.13B | $1.34B | $1.35B | $1.82B | $2.12B | $2.63B | $2.95B | $2.70B | $2.70B | |
| Operating Income | $1.33B | $2.08B | $2.53B | $2.21B | $3.58B | $8.99B | $4.99B | $4.23B | $4.09B | $3.70B | $3.70B | |
| Interest Expense | $-7.2M | $-25.1M | $-28.2M | $-30.2M | $-56.9M | $-57.3M | $-59.4M | $-73.0M | $-55.2M | $-43.8M | $-43.8M | |
| Pretax Income | $1.33B | $2.08B | $2.55B | $2.43B | $3.81B | $9.33B | $4.86B | $4.20B | $4.78B | $5.23B | $5.23B | |
| Net Income | $895.5M | $1.20B | $2.44B | $2.12B | $3.51B | $8.08B | $4.34B | $3.95B | $4.41B | $4.50B | $4.50B | |
| EPS (Diluted) | 7.70 | 10.34 | 21.29 | 18.46 | 30.52 | 71.97 | 38.22 | 34.77 | 38.34 | 41.48 | 41.56 | |
| EBITDA | $1.44B | $2.25B | $2.73B | $2.67B | $4.10B | $9.67B | $5.26B | $4.69B | $5.32B | $5.82B | $5.82B | |
| Shares Out. (M) | 116.30 | 115.90 | 114.80 | 114.60 | 115.10 | 112.20 | 113.50 | 113.70 | 115.10 | 108.60 | 107.70 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $535.2M | $812.7M | $1.47B | $1.62B | $2.19B | $2.89B | $3.11B | $2.73B | $2.49B | $3.12B | $3.12B | |
| Marketable Securities | $503.5M | $596.8M | $1.34B | $1.60B | $1.39B | $2.81B | $4.64B | $8.11B | $6.52B | $5.49B | $5.49B | |
| Total Current Assets | $3.18B | $4.33B | $6.45B | $7.69B | $9.78B | $14.01B | $15.88B | $19.48B | $18.66B | $18.02B | $18.02B | |
| Total Assets | $6.97B | $8.76B | $11.73B | $14.81B | $17.16B | $25.43B | $29.21B | $33.08B | $37.76B | $40.56B | $40.56B | |
| Total Current Liabilities | $1.24B | $1.14B | $1.44B | $2.10B | $2.70B | $3.93B | $3.14B | $3.42B | $3.94B | $4.37B | $4.37B | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $1.98B | $1.98B | $1.98B | $1.98B | $1.98B | $1.99B | $1.99B | |
| Total Liabilities | $2.52B | $2.62B | $2.98B | $3.72B | $6.14B | $6.67B | $6.55B | $7.11B | $8.41B | $9.30B | $9.30B | |
| Stockholders' Equity | $4.45B | $6.14B | $8.76B | $11.09B | $11.03B | $18.77B | $22.66B | $25.97B | $29.35B | $31.26B | $31.26B | |
| Retained Earnings | $1.75B | $2.95B | $5.25B | $7.38B | $10.89B | $18.97B | $23.31B | $27.26B | $31.67B | $35.80B | $35.80B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.49B | $1.31B | $2.20B | $2.43B | $2.62B | $7.08B | $5.01B | $4.59B | $4.42B | $4.98B | $4.98B | |
| Capital Expenditure | $-511.9M | $-272.6M | $-383.1M | $-429.6M | $-614.6M | $-551.9M | $-1.62B | $-926.4M | $-881.6M | $-1.21B | $-1.21B | |
| Free Cash Flow | $974.0M | $1.03B | $1.81B | $2.00B | $2.00B | $6.53B | $3.40B | $3.67B | $3.54B | $3.77B | $3.77B | |
| Investing Cash Flow | $-1.05B | $-1.01B | $-1.46B | $-2.03B | $-70.6M | $-5.38B | $-3.78B | $-3.19B | $-2.47B | $-629.1M | $-629.1M | |
| Financing Cash Flow | $-700.5M | $-24.4M | $-77.1M | $-252.1M | $-1.97B | $-1.01B | $-1.01B | $-1.79B | $-2.20B | $-3.72B | $-3.72B | |
| Issuance of Stock | $126.7M | $240.2M | $114.5M | $211.8M | $2.58B | $1.67B | $1.52B | $1.15B | $1.47B | $635.9M | $635.9M | |
| Repurchase of Stock | $-143.2M | $-301.7M | $-191.6M | $-463.9M | $-6.53B | $-2.68B | $-2.53B | $-2.94B | $-3.63B | $-3.97B | $-3.97B | |
| Issuance of Debt | $5.1M | $57.0M | $0.00 | $0.00 | $3.48B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-45.7M | $-19.9M | $0.00 | $0.00 | $-1.50B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $559.9M | $507.3M | $427.4M | $464.3M | $432.0M | $601.7M | $725.0M | $885.0M | $982.8M | $993.7M | $993.7M | |
| Net Change in Cash | $-261.4M | $277.5M | $655.0M | $150.1M | $577.0M | $690.8M | $221.3M | $-381.6M | $-248.8M | $634.7M | $634.7M |
Dilution Tracker
Shares Outstanding
108M
5-Year Share Growth
-4.0%
Stock Issuance (TTM)
$635.9M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 116.30 | 115.90 | 114.80 | 114.60 | 115.10 | 112.20 | 113.50 | 113.70 | 115.10 | 108.60 | 107.70 | |
| YoY Change % | — | -0.3% | -0.9% | -0.2% | 0.4% | -2.5% | 1.2% | 0.2% | 1.2% | -5.6% | -0.8% | |
| Stock Issuance | $126.7M | $240.2M | $114.5M | $211.8M | $2.58B | $1.67B | $1.52B | $1.15B | $1.47B | $635.9M | $635.9M | |
| Stock Repurchase | $-143.2M | $-301.7M | $-191.6M | $-463.9M | $-6.53B | $-2.68B | $-2.53B | $-2.94B | $-3.63B | $-3.97B | $-3.97B | |
| Stock Based Comp. | $559.9M | $507.3M | $427.4M | $464.3M | $432.0M | $601.7M | $725.0M | $885.0M | $982.8M | $993.7M | $993.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 93.8% | 93.2% | 91.9% | 88.3% | 86.8% | 84.8% | 87.2% | 86.2% | 86.1% | 85.4% | 85.3% | |
| Operating Margin % | 27.4% | 35.4% | 49.3% | 33.7% | 42.1% | 56.0% | 41.0% | 32.3% | 28.8% | 25.8% | 25.8% | |
| Net Margin % | 18.4% | 20.4% | 47.5% | 32.3% | 41.3% | 50.2% | 35.6% | 30.1% | 31.1% | 31.4% | 31.4% | |
| EBITDA Margin % | 29.7% | 38.3% | 53.1% | 40.7% | 48.3% | 60.2% | 43.2% | 35.8% | 37.4% | 40.6% | 40.6% | |
| FCF Margin % | 20.0% | 17.6% | 35.2% | 30.5% | 23.6% | 40.6% | 27.9% | 28.0% | 24.9% | 26.3% | 26.3% | |
| ROE % | 22.1% | 22.6% | 32.8% | 21.3% | 31.8% | 54.2% | 20.9% | 16.3% | 16.0% | 14.9% | 14.9% | |
| ROA % | 14.2% | 15.2% | 23.8% | 15.9% | 22.0% | 37.9% | 15.9% | 12.7% | 12.5% | 11.5% | 11.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)18.36
Historical8.10 / 20.57 / 66.01
Industry Med.27.44
P/S5.77
Historical3.90 / 6.99 / 12.03
Industry Med.9.85
P/B2.58
Historical1.81 / 4.07 / 11.34
Industry Med.2.90
EV/EBITDA12.85
Historical6.36 / 15.69 / 37.69
Industry Med.12.95
EV/Revenue5.21
Historical3.47 / 6.64 / 11.84
Industry Med.8.88
P/FCF21.95
Historical8.17 / 27.31 / 66.84
Industry Med.34.76
Intrinsic Value Models
DCF (FCF Based)
$641.30
Tangible Book
$283.77
Net Current Assets
$82.490
Graham Number
$532.32
Median P/S Value
$949.77
Net-Net Working Capital
$49.28
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 47.67 | 36.36 | 17.54 | 20.34 | 15.83 | 8.77 | 18.88 | 25.26 | 18.58 | 18.61 | 18.36 | |
| PS Ratio | 8.78 | 7.42 | 8.33 | 6.56 | 6.54 | 4.41 | 6.73 | 7.61 | 5.77 | 5.84 | 5.77 | |
| PB Ratio | 8.75 | 6.59 | 4.65 | 3.73 | 4.69 | 3.66 | 3.49 | 3.70 | 2.66 | 2.61 | 2.58 | |
| EV/EBITDA | 26.61 | 17.68 | 14.14 | 14.57 | 12.38 | 6.79 | 14.08 | 18.74 | 13.50 | 13.01 | 12.85 | |
| EV/Revenue | 7.89 | 6.77 | 7.50 | 5.93 | 5.98 | 4.08 | 6.08 | 6.71 | 5.05 | 5.28 | 5.21 |
Analyst Estimates & Quality
Altman Z-Score
7.62
Safe
Piotroski F-Score
5
Moderate
Beneish M-Score
-2.63
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $15,752M | $17,395M | $18,885M |
| Net Income | $5,029M | $5,927M | $6,653M |
| EPS | 39.01 | 48.65 | 56.13 |
| Book Value per Share | 332.99 | 375.47 | 427.02 |
| Operating Cash Flow per Share | 50.03 | 55.59 | 64.19 |
| Operating CF | $5,388.66M | $5,986.56M | $6,912.99M |
Dividends
Dividend/Share (TTM)
$3.52
Dividend Yield
0.47%
Yield 10Y Median
0.34%
Frequency
Quarterly
Recent Payments
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-02-20 | 2026-03-05 | $0.94 | Cash Div. |
| 2025-11-20 | 2025-12-05 | $0.88 | Cash Div. |
| 2025-08-18 | 2025-09-03 | $0.88 | Cash Div. |
| 2025-05-20 | 2025-06-06 | $0.88 | Cash Div. |
| 2025-02-20 | 2025-03-20 | $0.88 | Cash Div. |
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Collaboration revenue | $7.33B |
| Evkeeza | $162.2M |
| EYLEA | $2.75B |
| EYLEA HD | $1.64B |
| Inmazeb | $37.4M |
| Libtayo | $507.5M |
| Other products | $10.1M |
| Other revenue | $702.6M |
| Praluent | $262.5M |
By Geography
| Segment | 2025 |
|---|---|
| Collaboration revenue | $7.33B |
| Libtayo - Rest of World | $507.5M |
| Other products | $10.1M |
| Other revenue | $702.6M |
| United States | $5.79B |