A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
REGENERON PHARMACEUTICALS, INC.
REGN
$71.2B
Mkt Cap
$656.01
+0.63%
REGENERON PHARMACEUTICALS, INC. (REGN) has a current P/E ratio of 15.8, compared to its historical median P/E of 18.7. The stock is currently considered Fair based on its historical valuation range.
REGENERON PHARMACEUTICALS, INC. (REGN) has a 5-year average return on invested capital (ROIC) of 27.6%. This indicates strong capital allocation and a potential competitive advantage.
REGENERON PHARMACEUTICALS, INC. (REGN) has a market capitalization of $70.7B. It is classified as a large-cap stock.
Yes, REGENERON PHARMACEUTICALS, INC. (REGN) pays a dividend with a trailing twelve-month yield of 0.53%. The company also returns capital through share buybacks, with a buyback yield of 4.52%.
Based on historical P/E analysis, REGENERON PHARMACEUTICALS, INC. (REGN) appears fair. The current P/E of 15.8 is 15% below its historical median of 18.7. The estimated fair value CAGR (P/E method) is 9.3%.
REGENERON PHARMACEUTICALS, INC. (REGN) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Regeneron Pharmaceuticals is a fully integrated biotechnology company that invents, develops, manufactures, and commercializes medicines for serious diseases across multiple therapeutic areas including eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases, and rare diseases. The company operates through a diversified product portfolio spanning marketed products such as EYLEA (aflibercept) for retinal diseases, Dupixent (dupilumab) for type 2 inflammation-driven conditions, Libtayo (cemiplimab) for oncology, and Praluent (alirocumab) for cardiovascular risk reduction, complemented by a robust pipeline of product candidates in clinical development. Regeneron's business model combines internal discovery and development capabilities with strategic collaborations—notably with Sanofi for Dupixent and Kevzara, and with Bayer for EYLEA outside the United States—allowing it to share development costs and leverage partner commercialization expertise while retaining profit-sharing or royalty arrangements. The company maintains a strong foundation in proprietary technologies including VelocImmune for antibody discovery and genetic medicines platforms, with the Regeneron Genetics Center identifying novel drug targets through large-scale human genetics. Distribution occurs through both direct commercialization in key markets and licensed arrangements with collaborators, with products reaching patients through healthcare systems, specialty pharmacies, and patient assistance programs. Regeneron's competitive moat derives from its integrated capabilities spanning research, clinical development, manufacturing, and commercial execution, combined with a differentiated pipeline addressing unmet medical needs across multiple disease areas with novel mechanisms of action.
【Pipeline advancement and regulatory momentum】 Management expects significant clinical and regulatory progress throughout 2026 and beyond, with anticipated FDA approvals for multiple programs including new molecular entities across distinct modalities, registration-enabling data for fianlimab and cemdisiran-pozelimab combinations, and initiation of approximately 18 additional Phase III studies targeting cumulative enrollment of roughly 35,000 patients. The company is advancing next-generation therapeutic approaches in immunology and inflammation, including long-acting antibodies targeting IL-4 receptor alpha, IL-13, and IL-4, with the IL-13 antibody expected to enter clinical trials by mid-2026 on an expedited development pathway. In oncology, Libtayo is positioned for significant growth in 2026 and beyond driven by the adjuvant cutaneous squamous cell carcinoma indication, while linvoseltamab is expected to achieve continued gradual uptake in multiple myeloma with potential expansion into earlier lines of therapy through a broad registrational program. Regeneron anticipates strong commercial execution across leading brands, continued growth in EYLEA HD through 2026 as incremental share is gained in lung cancer and adjuvant CSCC uptake accelerates, and ongoing Dupixent adoption across newly approved indications and age groups, though EYLEA 2 mg will face intensifying biosimilar competition in the second half of 2026.
| Metric | Target | Period |
|---|---|---|
| GAAP gross margin | 77%-78% | FY2026 |
| Phase III studies initiation | approximately 18 additional Phase III studies | FY2026 |
| FDA approvals anticipated | at least four FDA approvals, including three for new molecular entities | FY2026 |
GAAP gross margin (FY2026): “we have made some minor changes to our 2026 financial guidance, including updating our GAAP gross margin guidance to be in the range of 77%-78%”
Phase III studies initiation (FY2026): “we anticipate initiating 18 additional Phase III studies, with cumulative target enrollment of approximately 35,000 patients over multiple years”
FDA approvals anticipated (FY2026): “we anticipate at least four FDA approvals, including three for new molecular entities across three distinct modalities, plus approval for the EYLEA HD prefilled syringe”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 14.9B | 14.3B | 14.2B | 13.1B | 12.2B | 16.1B |
| Net Income | 4.4B | 4.5B | 4.4B | 4.0B | 4.3B | 8.1B |
| EPS | $40.60 | $41.48 | $38.34 | $34.77 | $38.22 | $71.97 |
| Free Cash Flow | 4.1B | 4.1B | 3.7B | 3.9B | 4.4B | 6.5B |
| ROIC | 12.3% | 13.0% | 18.6% | 22.3% | 25.8% | 58.1% |
| Gross Margin | - | 88.6% | 88.8% | 88.5% | 89.1% | 87.0% |
| Debt/Equity | 0.09 | 0.07 | 0.08 | 0.08 | 0.09 | 0.14 |
| Dividends/Share | $3.48 | $3.41 | $0.00 | $0.00 | - | - |
| Operating Income | 3.6B | 3.6B | 4.0B | 4.0B | 4.7B | 8.9B |
| Operating Margin | 24.3% | 24.9% | 28.1% | 30.9% | 38.9% | 55.7% |
| ROE | 14.1% | 14.9% | 16.0% | 16.3% | 20.9% | 54.2% |
| Shares Outstanding | 108M | 109M | 115M | 114M | 114M | 112M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 2.8B | 4.1B | 4.9B | 5.9B | 5.1B | 6.6B | 8.5B | 16.1B | 12.2B | 13.1B | 14.2B | 14.3B | 14.9B |
| Gross Margin | 95.4% | 94.1% | 96.0% | 96.6% | 95.4% | 93.9% | 92.5% | 87.0% | 89.1% | 88.5% | 88.8% | 88.6% | N/A |
| R&D | 1.3B | 1.6B | 2.1B | 2.1B | 1.5B | 2.5B | 2.6B | 2.9B | 3.6B | 4.4B | 5.1B | 5.9B | 6.1B |
| SG&A | 519M | 839M | 1.2B | 1.3B | 1.1B | 1.3B | 1.3B | 1.8B | 2.1B | 2.6B | 3.0B | 2.7B | 2.7B |
| EBIT | 824M | 1.3B | 1.3B | 2.1B | 2.5B | 2.2B | 3.6B | 8.9B | 4.7B | 4.0B | 4.0B | 3.6B | 3.6B |
| Op. Margin | 29.2% | 30.5% | 27.4% | 35.4% | 49.3% | 33.7% | 42.1% | 55.7% | 38.9% | 30.9% | 28.1% | 24.9% | 24.3% |
| Net Income | 338M | 636M | 896M | 1.2B | 2.4B | 2.1B | 3.5B | 8.1B | 4.3B | 4.0B | 4.4B | 4.5B | 4.4B |
| Net Margin | 12.0% | 15.5% | 18.4% | 20.4% | 47.5% | 32.3% | 41.3% | 50.2% | 35.6% | 30.1% | 31.1% | 31.4% | 29.6% |
| Non-Recurring | 6.0M | 11M | 14M | 21M | 13M | 74M | 0 | 457M | 259M | 102M | 126M | 173M | 173M |
| Returns on Capital | |||||||||||||
| ROIC | 30.4% | 35.0% | 29.6% | 30.4% | 44.8% | 27.8% | 35.1% | 58.1% | 25.8% | 22.3% | 18.6% | 13.0% | 12.3% |
| ROE | 15.0% | 20.5% | 22.1% | 22.6% | 32.8% | 21.3% | 31.8% | 54.2% | 20.9% | 16.3% | 16.0% | 14.9% | 14.1% |
| ROA | 10.0% | 13.5% | 14.2% | 15.2% | 23.8% | 15.9% | 22.0% | 37.9% | 15.9% | 12.7% | 12.5% | 11.5% | 10.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 752M | 1.3B | 1.5B | 1.3B | 2.2B | 2.4B | 2.6B | 7.1B | 5.0B | 4.6B | 4.4B | 5.0B | 5.0B |
| Free Cash Flow | 419M | 653M | 974M | 1.0B | 1.8B | 2.0B | 2.0B | 6.5B | 4.4B | 3.9B | 3.7B | 4.1B | 4.1B |
| Owner Earnings | 378M | 797M | 821M | 654M | 1.6B | 1.8B | 2.0B | 6.2B | 3.9B | 3.3B | 3.0B | 3.4B | 3.5B |
| CapEx | 333M | 678M | 512M | 273M | 383M | 430M | 615M | 552M | 590M | 719M | 756M | 898M | 900M |
| Maint. CapEx | 53M | 75M | 105M | 146M | 148M | 210M | 236M | 286M | 341M | 421M | 483M | 544M | 540M |
| Growth CapEx | 280M | 603M | 407M | 127M | 235M | 219M | 379M | 266M | 249M | 298M | 273M | 355M | 360M |
| D&A | 53M | 75M | 105M | 146M | 148M | 210M | 236M | 286M | 341M | 421M | 483M | 544M | 540M |
| CapEx/OCF | 44.3% | 50.9% | 34.7% | 20.9% | 17.5% | 17.7% | 23.5% | 7.8% | 11.8% | 15.6% | 17.1% | 18.0% | 17.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 370M | 374M |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.6% | 0.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 4.4M | 276M | 5.8B | 1.6B | 2.1B | 2.2B | 2.6B | 3.4B | 3.2B |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.0% | 0.6% | 10.6% | 2.3% | 2.6% | 2.2% | 3.2% | 4.0% | 4.5% |
| Stock-Based Comp | 322M | 459M | 560M | 507M | 427M | 464M | 432M | 602M | 725M | 885M | 983M | 994M | 995M |
| Debt Repayment | 221M | 166M | 5.1M | 57M | 0 | 0 | 1.5B | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -893M | -1.0B | -1.0B | -1.4B | -2.8B | -3.2B | -109M | -3.0B | -5.7B | -8.8B | -6.8B | -6.4B | -6.0B |
| Cash & Equiv. | 649M | 809M | 535M | 813M | 1.5B | 1.6B | 2.2B | 2.9B | 3.1B | 2.7B | 2.5B | 3.1B | 8.8B |
| Long-Term Debt | 7.5M | 27M | 5.1M | 57M | 0 | 0 | 2.0B | 2.0B | 2.0B | 2.0B | 2.0B | 2.0B | 2.0B |
| Debt/Equity | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.32 | 0.14 | 0.09 | 0.08 | 0.08 | 0.07 | 0.09 |
| Interest Coverage | 22.0 | 87.9 | 184.8 | 82.9 | 89.9 | 73.2 | 62.9 | 156.1 | 79.8 | 55.4 | 86.6 | 91.5 | 83.8 |
| Equity | 2.6B | 3.7B | 4.4B | 6.1B | 8.8B | 11.1B | 11.0B | 18.8B | 22.7B | 26.0B | 29.4B | 31.3B | 31.4B |
| Total Assets | 3.8B | 5.6B | 7.0B | 8.8B | 11.7B | 14.8B | 17.2B | 25.4B | 29.2B | 33.1B | 37.8B | 40.6B | 40.9B |
| Total Liabilities | 1.3B | 2.0B | 2.5B | 2.6B | 3.0B | 3.7B | 6.1B | 6.7B | 6.6B | 7.1B | 8.4B | 9.3B | 9.4B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 6.7M | 916M | 1.0B | 1.1B | 1.3B | 1.3B |
| Retained Earnings | 217M | 853M | 1.7B | 2.9B | 5.3B | 7.4B | 10.9B | 19.0B | 23.3B | 27.3B | 31.7B | 35.8B | 36.4B |
| Working Capital | 1.4B | 2.1B | 1.9B | 3.2B | 5.0B | 5.6B | 7.1B | 10.1B | 12.7B | 16.1B | 14.7B | 13.7B | 13.1B |
| Current Assets | 2.1B | 2.9B | 3.2B | 4.3B | 6.4B | 7.7B | 9.8B | 14.0B | 15.9B | 19.5B | 18.7B | 18.0B | 18.2B |
| Current Liabilities | 655M | 811M | 1.2B | 1.1B | 1.4B | 2.1B | 2.7B | 3.9B | 3.1B | 3.4B | 3.9B | 4.4B | 5.1B |
| Per Share Data | |||||||||||||
| EPS | 2.98 | 5.52 | 7.70 | 10.34 | 21.29 | 18.46 | 30.52 | 71.97 | 38.22 | 34.77 | 38.34 | 41.48 | 40.60 |
| Owner EPS | 3.33 | 6.92 | 7.06 | 5.64 | 14.11 | 15.32 | 16.94 | 55.20 | 34.79 | 28.92 | 25.67 | 31.69 | 32.29 |
| Book Value | 22.48 | 31.72 | 38.26 | 53.01 | 76.27 | 96.76 | 95.78 | 167.27 | 199.66 | 228.42 | 255.05 | 287.81 | 291.77 |
| Cash Flow/Share | 6.63 | 11.55 | 12.78 | 11.28 | 19.12 | 21.20 | 22.74 | 63.11 | 44.18 | 40.40 | 38.41 | 45.84 | 46.09 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 | 3.41 | 3.48 |
| Shares Out. | 113.5M | 115.2M | 116.3M | 115.9M | 114.8M | 114.6M | 115.1M | 112.2M | 113.5M | 113.7M | 115.1M | 108.6M | 107.7M |
| Valuation | |||||||||||||
| P/E Ratio | 137.8 | 97.2 | 48.9 | 36.8 | 16.9 | 20.1 | 15.7 | 8.8 | 18.5 | 25.2 | 18.5 | 18.9 | 16.2 |
| P/FCF | 111.1 | 94.7 | 44.9 | 42.6 | 22.8 | 21.2 | 27.6 | 10.9 | 18.2 | 25.7 | 22.2 | 20.9 | 17.2 |
| EV/EBIT | 55.6 | 48.6 | N/A | N/A | 15.5 | 17.8 | 15.0 | 7.7 | 15.7 | 22.4 | 18.6 | 21.9 | 17.8 |
| Price/Book | 18.3 | 16.9 | 9.8 | 7.2 | 4.7 | 3.8 | 5.0 | 3.8 | 3.5 | 3.8 | 2.8 | 2.7 | 2.2 |
| Price/Sales | 13.3 | 13.9 | 9.4 | 8.3 | 6.0 | 6.0 | 7.2 | 3.9 | 6.1 | 6.7 | 7.8 | 4.7 | 4.7 |
| FCF Yield | 0.9% | 1.1% | 2.2% | 2.3% | 4.4% | 4.7% | 3.6% | 9.2% | 5.5% | 3.9% | 4.5% | 4.8% | 5.8% |
| Market Cap | 46.6B | 61.8B | 43.8B | 44.1B | 41.4B | 42.5B | 55.2B | 71.2B | 80.4B | 99.6B | 81.4B | 85.1B | 70.7B |
| Avg. Price | 330.06 | 493.78 | 393.84 | 419.25 | 349.44 | 341.15 | 528.14 | 552.41 | 657.25 | 777.42 | 963.50 | 618.43 | 656.01 |
| Year-End Price | 410.71 | 536.65 | 376.21 | 380.25 | 360.19 | 370.81 | 479.72 | 634.18 | 708.25 | 875.78 | 707.62 | 784.03 | 656.01 |
REGENERON PHARMACEUTICALS, INC. passes 7 of 9 quality checks, indicating strong fundamentals.
REGENERON PHARMACEUTICALS, INC. trades at 15.8x trailing earnings, compared to its 15-year median P/E of 18.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 0.3x vs a median of 22.5x. The company's 5-year average ROIC is 27.6% with a gross margin of 88.4%. Total shareholder yield (dividends + buybacks) is 5.0%. At current prices, the estimated annualized return to fair value is +126.4%.
REGENERON PHARMACEUTICALS, INC. (REGN) reported annual revenue of $14.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
REGENERON PHARMACEUTICALS, INC. (REGN) has a net profit margin of 31.4%. This is a strong margin indicating high profitability.
REGENERON PHARMACEUTICALS, INC. (REGN) generated $4.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
REGENERON PHARMACEUTICALS, INC. (REGN) has a debt-to-equity ratio of 0.07. This indicates a conservatively financed balance sheet.
REGENERON PHARMACEUTICALS, INC. (REGN) reported earnings per share (EPS) of $41.48 in its most recent fiscal year.
REGENERON PHARMACEUTICALS, INC. (REGN) has a return on equity (ROE) of 14.9%. This indicates moderate shareholder returns.
REGENERON PHARMACEUTICALS, INC. (REGN) has a 5-year average gross margin of 88.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for REGENERON PHARMACEUTICALS, INC. (REGN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
REGENERON PHARMACEUTICALS, INC. (REGN) has a book value per share of $287.81, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects significant clinical and regulatory progress throughout 2026 and beyond, with anticipated FDA approvals for multiple programs including new molecular entities across distinct modalities, registration-enabling data for fianlimab and cemdisiran-pozelimab combinations, and initiation of approximately 18 additional Phase III studies targeting cumulative enrollment of roughly 35,000 patients. The company is advancing next-generation therapeutic approaches in immunology and inflammation, including long-acting antibodies targeting IL-4 receptor alpha, IL-13, and IL-4, with the IL-13 antibody expected to enter clinical trials by mid-2026 on an expedited development pathway. In oncology, Libtayo is positioned for significant growth in 2026 and beyond driven by the adjuvant cutaneous squamous cell carcinoma indication, while linvoseltamab is expected to achieve continued gradual uptake in multiple myeloma with potential expansion into earlier lines of therapy through a broad registrational program. Regeneron anticipates strong commercial execution across leading brands, continued growth in EYLEA HD through 2026 as incremental share is gained in lung cancer and adjuvant CSCC uptake accelerates, and ongoing Dupixent adoption across newly approved indications and age groups, though EYLEA 2 mg will face intensifying biosimilar competition in the second half of 2026.
Based on recent SEC filings and earnings calls, REGENERON PHARMACEUTICALS, INC. (REGN) has provided the following forward guidance: GAAP gross margin: 77%-78% (FY2026); Phase III studies initiation: approximately 18 additional Phase III studies (FY2026); FDA approvals anticipated: at least four FDA approvals, including three for new molecular entities (FY2026).