R 
Regeneron Pharmaceuticals REGN · USD
Health Care · Biotechnology · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
919.96
+1.73%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$14.34bn
FY2016FY2025
Net income
$4.50bn
FY2016FY2025
Free cash flow
$4.08bn
FY2016FY2025
Shareholders' equity
$31.26bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.34bn | $14.20bn | $13.12bn | $12.17bn | $16.07bn | $8.50bn | $7.86bn | $6.71bn | $5.87bn | $4.86bn |
| Gross profit | $12.24bn | $12.23bn | $12.23bn | $10.47bn | $13.35bn | $7.14bn | $7.08bn | $6.28bn | $5.48bn | $4.56bn |
| Research and development | $5.85bn | $5.23bn | $4.44bn | $3.06bn | $2.62bn | $2.50bn | $3.04bn | $2.19bn | $2.08bn | $2.05bn |
| Operating income | $3.58bn | $3.99bn | $4.05bn | $5.39bn | $9.00bn | $3.63bn | $2.21bn | $2.53bn | $2.08bn | $1.33bn |
| Net income | $4.50bn | $4.41bn | $3.95bn | $4.34bn | $8.08bn | $3.51bn | $2.12bn | $2.44bn | $1.20bn | $895.5m |
| Diluted earnings per share | 41.91 | 38.78 | 34.74 | 38.06 | 71.34 | 31.31 | 18.51 | 21.29 | 10.31 | 7.73 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $40.56bn | $37.76bn | $33.08bn | $29.21bn | $25.43bn | $17.16bn | $14.81bn | $11.73bn | $8.76bn | $6.97bn |
| Cash and short-term investments | $8.61bn | $9.01bn | $10.84bn | $7.74bn | $5.69bn | $6.72bn | $3.21bn | $4.56bn | $2.90bn | $1.04bn |
| Total liabilities | $9.30bn | $8.41bn | $7.11bn | $6.55bn | $6.67bn | $6.14bn | $3.72bn | $2.98bn | $2.62bn | $2.52bn |
| Debt | $2.71bn | $2.70bn | $2.70bn | $2.70bn | $2.70bn | $2.70bn | $713.9m | $708.5m | $703.5m | $478.8m |
| Shareholders' equity | $31.26bn | $29.35bn | $25.97bn | $22.66bn | $18.77bn | $11.03bn | $11.09bn | $8.76bn | $6.14bn | $4.45bn |
| Shares outstanding | 108m | 114m | 114m | 114m | 113m | 112m | 114m | 115m | 116m | 116m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $4.98bn | $4.42bn | $4.59bn | $5.01bn | $7.08bn | $2.62bn | $2.43bn | $2.20bn | $1.31bn | $1.49bn |
| Capital spending | −$898.4m | −$755.9m | −$926.4m | −$590.1m | −$551.9m | −$614.6m | −$429.6m | −$383.1m | −$272.6m | −$511.9m |
| Free cash flow | $4.08bn | $3.66bn | $3.67bn | $4.42bn | $6.53bn | $2.00bn | $2.00bn | $1.81bn | $1.03bn | $974.0m |
| Dividends paid | −$370.3m | — | — | — | — | — | — | — | −$358.7m | −$500.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.29bn | $3.61bn | $3.88bn | $3.75bn | $3.68bn | $3.03bn | $3.79bn | $3.72bn |
| Gross profit | $3.71bn | $2.94bn | $3.30bn | $3.23bn | $3.15bn | $2.56bn | $3.22bn | $3.23bn |
| Operating income | $1.42bn | $642.9m | $879.9m | $1.03bn | $1.08bn | $591.7m | $990.2m | $1.18bn |
| Net income | $1.30bn | $727.2m | $844.6m | $1.46bn | $1.39bn | $808.7m | $917.7m | $1.34bn |
| Diluted earnings per share | 12.14 | 6.81 | 7.86 | 13.58 | 12.95 | 7.52 | 8.06 | 11.78 |
| Cash from operations | $574.0m | $1.08bn | $1.17bn | $1.62bn | $1.14bn | $1.04bn | $1.26bn | $1.29bn |
| Capital spending | −$240.0m | −$230.0m | −$248.0m | −$201.0m | −$176.0m | −$271.0m | −$267.0m | −$183.0m |
| Free cash flow | $334.0m | $848.0m | $922.0m | $1.42bn | $968.0m | $774.0m | $995.0m | $1.11bn |
| Total assets | $41.73bn | $40.87bn | $40.56bn | $40.17bn | $38.22bn | $37.55bn | $37.76bn | $37.44bn |
| Cash and short-term investments | $7.99bn | $8.75bn | $8.61bn | $8.44bn | $7.47bn | $8.35bn | $9.01bn | $9.80bn |
| Debt | $1.99bn | $2.71bn | $2.02bn | $1.99bn | $1.99bn | $1.98bn | $1.98bn | $1.98bn |
| Shareholders' equity | $31.71bn | $31.42bn | $31.26bn | $30.96bn | $29.94bn | $29.39bn | $29.35bn | $29.33bn |
Financial ratios
Data as of 10 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 85.4% | 86.1% | 93.3% | 86.0% | 83.1% | 84.0% |
| Operating margin | 24.9% | 28.1% | 30.9% | 44.2% | 56.0% | 42.8% |
| Net margin | 31.4% | 31.1% | 30.1% | 35.6% | 50.2% | 41.3% |
| Return on equity | 14.4% | 15.0% | 15.2% | 19.1% | 43.0% | 31.9% |
| Return on assets | 11.1% | 11.7% | 12.0% | 14.9% | 31.7% | 20.5% |
| Free cash flow yield | 6.8% | 5.6% | 6.0% | 6.1% | 8.3% | 3.6% |
| Revenue growth | 1.0% | 8.3% | 7.8% | -24.3% | 89.1% | 8.1% |
| Earnings growth | 2.1% | 11.6% | -8.9% | -46.3% | 129.9% | 66.0% |
| Current ratio | 4.13x | 4.73x | 5.69x | 5.06x | 3.56x | 4.54x |
| Debt to equity | 0.06x | 0.07x | 0.08x | 0.12x | 0.14x | 0.33x |
| Equity ratio | 77.1% | 77.7% | 78.5% | 77.6% | 73.8% | 64.2% |
| Interest coverage | 81.69x | 72.30x | 55.44x | 90.67x | 157.14x | 63.86x |
| R&D as a share of sales | 40.8% | 36.8% | 33.8% | 25.1% | 16.3% | 29.4% |
| Buybacks as a share of market value | 5.5% | 0.0% | 0.2% | -0.7% | -0.9% | 1.8% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.6% | 11.0% | 13.3% |
| Operating income | -12.7% | -0.3% | 11.1% |
| Net income | 1.3% | 5.1% | 21.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 85.7% | 87.6% | 86.3% | 87.9% |
| Operating margin | 26.5% | 31.6% | 37.8% | 36.2% |
| Net margin | 31.2% | 32.0% | 36.7% | 33.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 18.4 | 18.4 | 25.3 | 19.0 | 8.8 | 15.4 | 20.3 | 17.5 | 36.5 | 47.5 |
| Price to sales | 5.8 | 5.7 | 7.6 | 6.8 | 4.5 | 6.4 | 5.5 | 6.4 | 7.4 | 8.8 |
Market value over time
31 Oct 2016 to 9 Sept 2026, in USD
$40.25bn$86.26bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 5% | -16% | 18% | 20% | 21% | 32% | 5% | -7% | 3% | -28% |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 20 Nov 2026.
| FY2026 | FY2025 | |
|---|---|---|
| Paid in the year | 3.76 | 3.52 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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