Sanofi SA
SNYHealthcare|Drug Manufacturers - General|France
$43.50
-0.40 (-0.91%)
DCF (FCF)
$57.37
Tangible Book
$1.80
Graham Number
$12.04
Earnings Power
$35.15
Financials
Financial Snapshot
Market Cap
$104.13B
Enterprise Value
$-13.93B
Revenue (TTM)
$54.33B
Net Income (TTM)
$9.05B
Cash & Equivalents
—
Net Cash/Share
$-22.19
Free Cash Flow (TTM)
$8.41B
Operating CF (TTM)
$12.53B
Debt/Equity
0.29
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $10.87B | $12.30B | $8.10B | $10.95B | $13.57B | $12.60B | $14.19B | $9.79B | $8.30B | $9.91B | $9.91B | |
| Operating Cash Flow | $8.63B | $8.73B | $6.31B | $8.57B | $9.02B | $11.89B | $11.15B | $11.19B | $9.51B | $12.59B | $12.53B | |
| Free Cash Flow | $6.44B | $6.42B | $4.06B | $6.59B | $6.49B | $9.58B | $8.92B | $8.02B | $6.16B | $8.44B | $8.41B | |
| Capital Expenditure | $-2.20B | $-2.31B | $-2.25B | $-1.99B | $-2.53B | $-2.31B | $-2.23B | $-3.17B | $-3.35B | $-4.14B | $-4.12B | |
| Financing Cash Flow | $-4.21B | $-9.35B | $4.48B | $-4.66B | $-7.89B | $-7.97B | $-6.17B | $-8.78B | $-6.03B | $-9.61B | $-9.53B |
R&D Spending
R&D (TTM)
$9.12B
R&D Intensity
16.8%
R&D Growth YoY
-0.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.60B | $42.87B | $40.59B | $41.81B | $45.46B | $44.27B | $42.97B | $45.38B | $46.37B | $54.70B | $54.33B | |
| R&D Expense | $5.46B | $6.48B | $6.71B | $6.69B | $6.73B | $6.43B | $6.89B | $7.10B | $7.74B | $9.18B | $9.12B | |
| R&D % of Revenue | 14.9% | 15.1% | 16.5% | 16.0% | 14.8% | 14.5% | 16.0% | 15.6% | 16.7% | 16.8% | 16.8% | |
| SG&A | $10.00B | $11.92B | $11.22B | $10.98B | $11.42B | $10.80B | $9.26B | $10.33B | $10.28B | $11.99B | $11.91B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.60B | $42.87B | $40.59B | $41.81B | $45.46B | $44.27B | $42.97B | $45.38B | $46.37B | $54.70B | $54.33B | |
| Cost of Goods Sold | $11.29B | $13.74B | $13.01B | $13.31B | $14.79B | $13.85B | $12.59B | $13.77B | $13.83B | $15.28B | $15.18B | |
| Gross Profit | $25.31B | $29.12B | $27.58B | $28.50B | $30.67B | $30.42B | $30.38B | $31.61B | $32.55B | $39.42B | $39.15B | |
| R&D | $5.46B | $6.48B | $6.71B | $6.69B | $6.73B | $6.43B | $6.89B | $7.10B | $7.74B | $9.18B | $9.12B | |
| SG&A | $10.00B | $11.92B | $11.22B | $10.98B | $11.42B | $10.80B | $9.26B | $10.33B | $10.28B | $11.99B | $11.91B | |
| Operating Income | $7.94B | $8.52B | $7.12B | $7.98B | $9.60B | $10.34B | $11.57B | $9.48B | $9.34B | $11.24B | $11.16B | |
| Interest Expense | $-974.7M | $-497.0M | $-563.1M | $-516.7M | $-528.0M | $-439.5M | $-492.6M | $-701.2M | $-737.2M | $-733.0M | $-727.8M | |
| Pretax Income | $5.99B | $6.55B | $5.01B | $3.06B | $16.76B | $8.81B | $10.53B | $6.82B | $7.01B | $7.23B | $7.17B | |
| Net Income | $4.97B | $9.96B | $4.90B | $3.06B | $14.96B | $7.03B | $8.87B | $5.89B | $5.82B | $9.15B | $9.05B | |
| EPS (Diluted) | 1.92 | 3.93 | 1.95 | 1.22 | 5.94 | 2.80 | 3.53 | 2.35 | 2.32 | 3.73 | 3.69 | |
| EBITDA | $10.44B | $11.40B | $10.44B | $11.85B | $21.76B | $13.04B | $14.31B | $12.35B | $11.51B | $14.61B | $14.51B | |
| Shares Out. (M) | 2592.00 | 2533.60 | 2510.40 | 2514.20 | 2520.20 | 2515.80 | 2513.80 | 2512.80 | 2512.20 | 2451.20 | 2451.20 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $10.84B | $12.21B | $7.88B | $10.47B | $12.28B | $11.41B | $13.49B | $9.50B | $7.79B | $8.97B | $8.97B | |
| Marketable Securities | $32.7M | $91.1M | $226.4M | $473.3M | $1.28B | $1.19B | $702.3M | $294.4M | $508.9M | $948.5M | $948.5M | |
| Total Current Assets | $34.93B | $31.23B | $28.04B | $32.15B | $37.29B | $34.64B | $36.13B | $33.45B | $44.59B | $36.24B | $36.24B | |
| Total Assets | $110.42B | $118.12B | $126.74B | $125.14B | $146.28B | $135.87B | $134.24B | $137.91B | $139.06B | $148.48B | $148.48B | |
| Total Current Liabilities | $18.61B | $18.30B | $19.77B | $22.65B | $25.91B | $24.06B | $25.40B | $26.40B | $30.54B | $33.19B | $33.19B | |
| Long-Term Debt | $17.74B | $16.95B | $25.04B | $22.37B | $20.83B | $19.35B | $15.74B | $15.65B | $12.35B | $16.68B | $16.68B | |
| Total Liabilities | $49.53B | $49.20B | $59.58B | $59.33B | $62.30B | $57.87B | $54.63B | $56.83B | $57.53B | $64.51B | $64.51B | |
| Stockholders' Equity | $60.71B | $68.72B | $66.98B | $65.62B | $83.55B | $77.61B | $79.22B | $80.74B | $81.16B | $83.58B | $83.58B | |
| Retained Earnings | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.63B | $8.73B | $6.31B | $8.57B | $9.02B | $11.89B | $11.15B | $11.19B | $9.51B | $12.59B | $12.53B | |
| Capital Expenditure | $-2.20B | $-2.31B | $-2.25B | $-1.99B | $-2.53B | $-2.31B | $-2.23B | $-3.17B | $-3.35B | $-4.14B | $-4.12B | |
| Free Cash Flow | $6.44B | $6.42B | $4.06B | $6.59B | $6.49B | $9.58B | $8.92B | $8.02B | $6.16B | $8.44B | $8.41B | |
| Investing Cash Flow | $-2.78B | $756.2M | $-14.64B | $-1.14B | $4.40B | $-8.25B | $-2.20B | $-6.76B | $-4.61B | $-2.87B | $-3.02B | |
| Financing Cash Flow | $-4.21B | $-9.35B | $4.48B | $-4.66B | $-7.89B | $-7.97B | $-6.17B | $-8.78B | $-6.03B | $-9.61B | $-9.53B | |
| Issuance of Stock | $321.7M | $377.5M | $201.4M | $180.0M | $247.0M | $210.2M | $199.2M | $212.7M | $195.8M | $207.3M | $206.8M | |
| Repurchase of Stock | $-3.07B | $-2.56B | $-1.25B | $-10.0M | $-1.00B | $-431.6M | $-526.5M | $-646.7M | $-316.2M | $-5.89B | $-5.82B | |
| Issuance of Debt | $5.14B | $84.0M | $11.01B | $2.22B | $2.80B | $0.00 | $1.87B | $871.3M | $61.8M | $6.51B | $10.29B | |
| Payments of Debt | $-2.72B | $-2.80B | $-1.09B | $-2.76B | $-5.09B | $-3.17B | $-3.18B | $-4.29B | $-997.9M | $-4.75B | $-8.60B | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Change in Cash | $1.54B | $49.7M | $-3.86B | $2.78B | $5.46B | $-4.31B | $2.79B | $-4.39B | $-1.15B | $57.4M | $-78.7M |
Dilution Tracker
Shares Outstanding
2451M
5-Year Share Growth
-2.6%
Stock Issuance (TTM)
$206.8M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 2592.00 | 2533.60 | 2510.40 | 2514.20 | 2520.20 | 2515.80 | 2513.80 | 2512.80 | 2512.20 | 2451.20 | 2451.20 | |
| YoY Change % | — | -2.3% | -0.9% | 0.2% | 0.2% | -0.2% | -0.1% | 0.0% | 0.0% | -2.4% | 0.0% | |
| Stock Issuance | $321.7M | $377.5M | $201.4M | $180.0M | $247.0M | $210.2M | $199.2M | $212.7M | $195.8M | $207.3M | $206.8M | |
| Stock Repurchase | $-3.07B | $-2.56B | $-1.25B | $-10.0M | $-1.00B | $-431.6M | $-526.5M | $-646.7M | $-316.2M | $-5.89B | $-5.82B | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 69.2% | 67.9% | 67.9% | 68.2% | 67.5% | 68.7% | 70.7% | 69.7% | 70.2% | 72.1% | 72.1% | |
| Operating Margin % | 21.7% | 19.9% | 17.5% | 19.1% | 21.1% | 23.3% | 26.9% | 20.9% | 20.1% | 20.5% | 20.6% | |
| Net Margin % | 13.6% | 23.2% | 12.1% | 7.3% | 32.9% | 15.9% | 20.6% | 13.0% | 12.6% | 16.7% | 16.6% | |
| EBITDA Margin % | 28.5% | 26.6% | 25.7% | 28.3% | 47.9% | 29.5% | 33.3% | 27.2% | 24.8% | 26.7% | 26.7% | |
| FCF Margin % | 17.6% | 15.0% | 10.0% | 15.8% | 14.3% | 21.6% | 20.8% | 17.7% | 13.3% | 15.4% | 15.5% | |
| ROE % | 8.0% | 15.4% | 7.2% | 4.6% | 20.1% | 8.7% | 11.3% | 7.4% | 7.2% | 11.1% | 11.1% | |
| ROA % | 4.5% | 8.7% | 4.0% | 2.4% | 11.0% | 5.0% | 6.6% | 4.3% | 4.2% | 6.4% | 6.3% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)11.97
Historical7.72 / 20.11 / 42.74
Industry Med.20.77
P/S2.00
Historical1.92 / 2.78 / 3.45
Industry Med.2.30
P/B1.29
Historical1.24 / 1.60 / 2.04
Industry Med.1.91
EV/EBITDA8.50
Historical5.96 / 10.68 / 14.28
Industry Med.12.99
EV/Revenue2.27
Historical2.18 / 3.10 / 3.69
Industry Med.2.45
P/FCF12.97
Historical11.63 / 17.15 / 31.77
Industry Med.20.81
Intrinsic Value Models
DCF (FCF Based)
$57.37
Tangible Book
$1.80
Graham Number
$12.04
Median P/S Value
$60.97
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 21.07 | 10.76 | 21.94 | 40.70 | 8.02 | 17.80 | 13.49 | 20.87 | 21.16 | 12.99 | 11.97 | |
| PS Ratio | 2.86 | 2.50 | 2.65 | 2.98 | 2.64 | 2.83 | 2.78 | 2.71 | 2.66 | 2.17 | 2.00 | |
| PB Ratio | 1.69 | 1.57 | 1.61 | 1.92 | 1.45 | 1.62 | 1.54 | 1.54 | 1.49 | 1.40 | 1.29 | |
| EV/EBITDA | 10.68 | 9.86 | 12.14 | 12.01 | 6.12 | 10.57 | 8.99 | 10.78 | 11.63 | 8.98 | 8.50 | |
| EV/Revenue | 3.05 | 2.62 | 3.12 | 3.40 | 2.93 | 3.11 | 2.99 | 2.93 | 2.89 | 2.40 | 2.27 |
Analyst Estimates & Quality
Altman Z-Score
1.56
Distress
Piotroski F-Score
7
Strong
Beneish M-Score
-2.45
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $54,099M | $57,813M | $60,259M |
| Net Income | $11,632M | $12,292M | $13,422M |
| EPS | 5.24 | 5.89 | 0.00 |
| Book Value per Share | 34.84 | 36.39 | 38.32 |
| Operating Cash Flow per Share | 4.51 | 4.85 | 5.76 |
| Operating CF | $11,045.11M | $11,894.45M | $14,128.72M |
Dividends
Dividend/Share (TTM)
$2.23
Dividend Yield
5.56%
Yield 10Y Median
3.79%
Frequency
Annually
Recent Payments
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-05-04 | 2026-06-03 | $2.418953 | Cash Div. |
| 2025-05-09 | 2025-06-12 | $2.195331 | Cash Div. |
| 2024-05-09 | 2024-06-06 | $2.036908 | Cash Div. |
| 2023-05-30 | 2023-06-23 | $1.900085 | Cash Div. |
| 2022-05-26 | 2022-06-27 | $0.297235 | Special Div. |
| 2022-05-04 | 2022-05-31 | $1.74684 | Cash Div. |
| 2021-05-03 | 2021-05-26 | $1.928784 | Cash Div. |
| 2020-04-30 | 2020-05-26 | $1.699399 | Cash Div. |
| 2019-05-07 | 2019-05-31 | $1.722322 | Cash Div. |
| 2018-05-09 | 2018-06-04 | $1.790623 | Cash Div. |
| 2017-05-11 | 2017-06-07 | $1.640597 | Cash Div. |
| 2016-05-05 | 2016-06-01 | $1.663281 | Cash Div. |
| 2015-05-06 | 2015-06-02 | $1.609295 | Cash Div. |
| 2014-05-07 | 2014-06-05 | $1.909749 | Cash Div. |
| 2013-05-06 | 2013-06-05 | $1.792501 | Cash Div. |
| 2012-05-07 | 2012-05-30 | $1.689242 | Cash Div. |
| 2011-05-11 | 2011-06-24 | $1.763375 | Cash Div. |
| 2010-05-17 | 2010-06-14 | $1.465036 | Cash Div. |
| 2009-04-20 | 2009-05-29 | $1.43909 | Cash Div. |
| 2008-05-16 | 2008-06-13 | $1.62539 | Cash Div. |
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Biopharma | $46.23B |
| Other | $487.0M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $22.18B |
| China | $2.62B |
| Europe | $7.46B |
| France | $1.71B |
| Other revenues | $3.09B |
| Rest of the World | $9.66B |