FirmAtlas
Company handbook · REGN · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
REGN · CIK 872589 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026
REGENERON PHARMACEUTICALS, INC.
$790.74
−5.60 (−0.70%)
Close, Oct 16, 2026 · 52-week $566–859
Last fiscal year
REGENERON PHARMACEUTICALS, INC. reported revenue of $14.3B for the year ended Dec 31, 2025 (FY25), up 1.0% from FY24. Net income was $4.5B, operating cash flow $5.0B and free cash flow $4.1B. Source: 10-K filed Feb 4, 2026.
Market cap
$85.9B
P/E
19.8
EV/EBITDA
19.2x
P/B
2.7
Div yield
0.47%
ROIC
13.1%
Revenue 1Y
1.0%/yr
EPS 1Y
8.2%/yr
Shares 1Y
−6%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOLeonard S. Schleifer
HQTarrytown, NY
AuditorPricewaterhouseCoopers LLP
Employees15,410
Year endsDecember
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
7.8%
7.4%
−2.1%
38.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$8.1B deployed
Capex
$1.7B
20.5%
Acquisitions
$20M
0.2%
Dividends
$370M
4.6%
Buybacks
$6.0B
74.7%
Operating cash flow over the period: $9.4B. Total debt changed by +$2M. R&D of $11.0B is already inside operating costs.
More cash than debt at the end of FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
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Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
14,202
14,343+1.0%
15,535
YoY
+1.0%
Operating income
3,991
3,578−10.3%
3,843
Operating margin
28.1%
24.9%−3.2 pp
—
EBITDA
4,474
4,122−7.9%
—
EBITDA margin
31.5%
28.7%−2.8 pp
—
Interest expense
55
44−20.7%
—
Interest coverage
81.04x
94.10x+13.06x
—
Net income
4,413
4,505+2.1%
4,329
YoY
+2.1%
Net margin
31.1%
31.4%+0.3 pp
—
EPS (diluted, $)
38.34
41.48+8.2%
40.38
YoY
+8.2%
Balance sheet
Total assets
37,759
40,559+7.4%
41,731
Cash & short-term investments
9,013
8,611−4.5%
—
Accounts receivable
6,212
5,741−7.6%
—
Inventory
3,087
3,201+3.7%
—
Net PP&E
4,600
5,120+11.3%
—
Other assets
14,847
17,886+20.5%
—
Total liabilities
8,406
9,302+10.7%
10,019
Accounts payable
790
939+18.9%
—
Total debt
1,984
1,986+0.1%
2,707
Other liabilities
5,632
6,377+13.2%
—
Shareholders’ equity
29,354
31,257+6.5%
31,711
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
4,420
4,979+12.6%
4,681
Net income
4,413
4,505+2.1%
—
Depreciation & amortization
483
544+12.6%
—
Stock-based compensation
983
994+1.1%
—
Working capital & other
(1,458)
(1,063)n/m
—
Cash from investing
(2,468)
(629)n/m
—
Capex
(756)
(898)n/m
—
PP&E sold
20
0−100.0%
—
Acquisitions
(16)
(3)n/m
—
Investments bought
(16,617)
(10,958)n/m
—
Investments sold / matured
15,027
11,546−23.2%
—
Other investing
(126)
(315)n/m
—
Cash from financing
(2,200)
(3,715)n/m
—
Dividends
0
(370)n/m
—
Buybacks
(2,603)
(3,439)n/m
—
Shares issued
1,465
636−56.6%
—
Other financing
(1,062)
(542)n/m
—
Net change in cash
(249)
635n/m
—
Free cash flow (OCF − capex)
3,665
4,080+11.3%
3,760
Where the cash went
Operating cash flow
4,420
4,979+12.6%
4,681
Reinvested in the business
772
902+16.7%
—
% of operating cash flow
17.5%
18.1%
Capex
756
898+18.9%
921
Acquisitions
16
3−80.0%
—
R&D (memo, already in costs)
5,132
5,850+14.0%
—
Free cash flow
3,665
4,080+11.3%
3,760
YoY
+11.3%
Returned to shareholders
2,603
3,809+46.3%
—
% of free cash flow
71.0%
93.3%
Dividends
0
370n/m
—
Buybacks
2,603
3,439+32.1%
—
Change in total debt
—
2
—
Cash left over
—
270
—
FCF conversion (FCF ÷ net income)
83.0%
90.6%+7.5 pp
—
Owner earnings
—
4,657
—
Owner earnings margin
—
32.5%
—
Buyback yield
3.2%
4.1%+0.9 pp
—
Returns & ratios
ROIC (all capital)
16.5%
13.1%−3.4 pp
—
ROIC (operating)
28.1%
23.5%−4.6 pp
—
Net debt / EBITDA
−1.57x
−1.61x−0.04x
—
Debt / equity
0.07x
0.06x−0.00x
—
Cash conversion cycle (days)
219
204−15 d
—
ROE
15.0%
14.4%−0.6 pp
—
ROA
11.7%
11.1%−0.6 pp
—
ROCE
11.8%
9.9%−1.9 pp
—
NOPAT
3,684
3,081−16.4%
—
Invested capital (operating)
13,109
13,123+0.1%
—
Invested capital (all)
22,325
24,632+10.3%
—
Reinvestment rate
—
0.5%
—
Debtor days
160
146−14 d
—
Inventory days
79
81+2 d
—
Days payable
20
24+4 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
3,754
3,884
3,605
4,291
vs year-ago quarter
Operating income
1,027
880
643
1,294
Net income
1,460
845
727
1,297
vs year-ago quarter
Net margin
38.9%
21.7%
20.2%
30.2%
EPS (diluted, $)
13.62
7.78
6.75
12.23
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
40,169
40,559
40,869
41,731
Cash & equivalents
2,513
8,611
2,971
2,466
Total debt
1,986
1,986
2,706
2,707
Shareholders’ equity
30,958
31,257
31,424
31,711
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,619
1,171
1,079
813
Capex
201
249
231
240
Free cash flow
1,417
922
848
573
vs year-ago quarter