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REGENERON PHARMACEUTICALS, INC.

REGN· Nasdaq· Pharmaceutical Preparations

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
28.4%
ROIC, 5 yr avg
25.6%
Revenue, 5 yr CAGR
+11.0%
We record prices for the companies we cover; REGN is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
108.6M
Revenue
$14.3B
Free cash flow
$4.1B
Owner earnings
$3.1B

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
–
Operating
24.9%
Net
31.4%
Free cash flow
28.4%
Owner earnings
21.5%
Stock pay
6.9%

Returns

ROIC, FY2025
12.5%
ROIC, 5 yr avg
25.6%
ROE, FY2025
14.4%
ROE, 5 yr avg
21.4%

Growth (CAGR)

Revenue, 3 yr
5.6%
Revenue, 5 yr
11.0%
Revenue, 9 yr
12.8%
Diluted EPS, 3 yr
2.8%
Diluted EPS, 5 yr
6.3%
Diluted EPS, 9 yr
20.6%
Free cash flow, 3 yr
-2.7%
Free cash flow, 5 yr
15.3%
Free cash flow, 9 yr
17.3%

Financial health · FY2025

Cash and investments
$8.6B
Total debt
$2.0B
Net cash
$6.6B
Debt/Equity
0.1x
Debt/FCF
0.5x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
8.2%
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
-1.2%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$14.3B

+12.8% a year over 9 years

FY2016: Revenue $4.9BFY2017: Revenue $5.9BFY2018: Revenue $5.1BFY2019: Revenue $6.6BFY2020: Revenue $8.5BFY2021: Revenue $16.1BFY2022: Revenue $12.2BFY2023: Revenue $13.1BFY2024: Revenue $14.2BFY2025: Revenue $14.3B
FY2016FY2025

Margins

Operating24.9%Net31.4%

FY2025

FY2016: Operating 27.4%, Net 18.4%FY2017: Operating 35.4%, Net 20.4%FY2018: Operating 49.3%, Net 47.5%FY2019: Operating 33.7%, Net 32.3%FY2020: Operating 42.1%, Net 41.3%FY2021: Operating 55.7%, Net 50.2%FY2022: Operating 38.9%, Net 35.6%FY2023: Operating 30.9%, Net 30.1%FY2024: Operating 28.1%, Net 31.1%FY2025: Operating 24.9%, Net 31.4%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$4.1BOwner earnings$3.1B

Free cash flow +17.3% a year

FY2016: Free cash flow $974.0M, Owner earnings $414.1MFY2017: Free cash flow $1.0B, Owner earnings $527.2MFY2018: Free cash flow $1.8B, Owner earnings $1.4BFY2019: Free cash flow $2.0B, Owner earnings $1.5BFY2020: Free cash flow $2.0B, Owner earnings $1.6BFY2021: Free cash flow $6.5B, Owner earnings $5.9BFY2022: Free cash flow $4.4B, Owner earnings $3.7BFY2023: Free cash flow $3.9B, Owner earnings $3.0BFY2024: Free cash flow $3.7B, Owner earnings $2.7BFY2025: Free cash flow $4.1B, Owner earnings $3.1B
FY2016FY2025

Diluted shares

108.6M

-6.6% over 9 years, net buybacks

FY2016: Diluted shares 116.3MFY2017: Diluted shares 115.9MFY2018: Diluted shares 114.8MFY2019: Diluted shares 114.6MFY2020: Diluted shares 115.1MFY2021: Diluted shares 112.2MFY2022: Diluted shares 113.5MFY2023: Diluted shares 113.7MFY2024: Diluted shares 115.1MFY2025: Diluted shares 108.6M
FY2016FY2025

Return on invested capital

12.5%

FY2025

FY2016: ROIC –FY2017: ROIC –FY2018: ROIC –FY2019: ROIC 24.4%FY2020: ROIC 35.0%FY2021: ROIC 51.5%FY2022: ROIC 25.0%FY2023: ROIC 22.3%FY2024: ROIC 16.5%FY2025: ROIC 12.5%
FY2016FY2025

Net cash

$6.6B

$6.6B more cash than debt

FY2016: Net cash –FY2017: Net cash –FY2018: Net cash –FY2019: Net cash $3.2BFY2020: Net cash $1.6BFY2021: Net cash $3.7BFY2022: Net cash $5.8BFY2023: Net cash $8.9BFY2024: Net cash $7.0BFY2025: Net cash $6.6B
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$4.9B$5.9B$5.1B$6.6B$8.5B$16.1B$12.2B$13.1B$14.2B$14.3B
Revenue growth18.4%20.8%-12.4%27.4%29.6%89.1%-24.3%7.8%8.3%1.0%
Gross margin––––––––––
Operating margin27.4%35.4%49.3%33.7%42.1%55.7%38.9%30.9%28.1%24.9%
Net income$895.5M$1.2B$2.4B$2.1B$3.5B$8.1B$4.3B$4.0B$4.4B$4.5B
Net margin18.4%20.4%47.5%32.3%41.3%50.2%35.6%30.1%31.1%31.4%
Diluted EPS$7.70$10.34$21.29$18.46$30.52$71.97$38.22$34.77$38.34$41.48
Return on invested capital?–––24.4%35.0%51.5%25.0%22.3%16.5%12.5%
Cash
Operating cash flow$1.5B$1.3B$2.2B$2.4B$2.6B$7.1B$5.0B$4.6B$4.4B$5.0B
Capital expenditure$511.9M$272.6M$383.1M$429.6M$614.6M$551.9M$590.1M$718.6M$755.9M$898.4M
Free cash flow$974.0M$1.0B$1.8B$2.0B$2.0B$6.5B$4.4B$3.9B$3.7B$4.1B
Stock-based compensation$559.9M$507.3M$427.4M$464.3M$432.0M$601.7M$725.0M$885.0M$982.8M$993.7M
Owner earnings?$414.1M$527.2M$1.4B$1.5B$1.6B$5.9B$3.7B$3.0B$2.7B$3.1B
Free cash flow per share$8.37$8.93$15.78$17.46$17.41$58.19$38.99$34.08$31.84$37.57
Capital allocation
Dividends paid–––––––$0$0$370.3M
Share repurchases$0$0$4.4M$275.9M$5.8B$1.6B$2.1B$2.2B$2.6B$3.4B
Diluted shares116.3M115.9M114.8M114.6M115.1M112.2M113.5M113.7M115.1M108.6M
Share count change?0.9%-0.3%-0.9%-0.2%0.4%-2.5%1.2%0.2%1.2%-5.6%
Balance sheet
Cash and equivalents$535.2M$812.7M$1.5B$1.6B$2.2B$2.9B$3.1B$2.7B$2.5B$3.1B
Short-term investments$503.5M$596.8M$1.3B$1.6B$1.4B$2.8B$4.6B$8.1B$6.5B$5.5B
Total debt–––$0$2.0B$2.0B$2.0B$2.0B$2.0B$2.0B
Net debt–––-$3.2B-$1.6B-$3.7B-$5.8B-$8.9B-$7.0B-$6.6B
Shareholders' equity$4.4B$6.1B$8.8B$11.1B$11.0B$18.8B$22.7B$26.0B$29.4B$31.3B

Latest filings

All on EDGAR
2026-10-3010-QQuarterly report
2026-10-308-KEarnings release
2026-10-068-KEarnings release
2026-07-3010-QQuarterly report
2026-07-308-KEarnings release
2026-07-068-KEarnings release
2026-04-2910-QQuarterly report
2026-04-298-KEarnings release
2026-04-24DEF 14AProxy statement
2026-04-088-KEarnings release

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