— Know what they know.
/
Not Investment Advice

REGN

NASDAQ · USD
Regeneron Pharmaceuticals, Inc.
Healthcare · Biotechnology
CEO Leonard S. Schleifer Employees 15,410 R&D / revenue 40.8%
Last price
$790.74−0.70%last session
Market cap
$81.4B
P/E (TTM)
18.9x
From 52w high
−8.0%
From 52w low
+39.7%
1-year return
+39.1%
RSI 14 · vs SMA200
57.2 · +7.6%
IS score
68.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

REGN   SPY   XLV (sector ETF) · weekly closes
100120140Jan 26Apr 26Jul 26Oct 26REGN 139XLV 124SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
82
Profitability
45
Growth
69
Value
67
Momentum
100
Risk (safety)
85
Quality
97
Balance sheet
68
Earnings quality

Flags

Strengths
✓ Net cash✓ Congress buying
Warnings
None of the computed warning flags fires for REGN (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Switching CostsPiotroski 7 / 9Altman Z 6.4Beta 0.243 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
45 open-market sales, $6.7M
Form 144 notices (12m): 11, $13.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-07-07
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−58
127 new holders, 168 closed
1,340 filers hold 89.3% · 486 added, 540 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+102
1,460 funds adding shares
1,358 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
50.0%
20-day avg 47.4%, 50-day avg 51.1%
Latest 2.6 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$14.3B
Revenue growth YoY+1.0%
Gross margin85.4%
Operating income$3.6B
Operating margin24.9%
Net income$4.5B
Net margin31.4%
EPS (diluted)$41.48
Cash flow
Operating cash flow$5.0B
Capital expenditure$898.4M
Free cash flow$4.1B
FCF conversion (FCF / OCF)82.0%
Stock-based compensation$993.7M
FCF less SBC$3.1B
Buybacks$3.4B
Dividends$370.3M
Balance sheet & returns
Cash & short-term investments$8.6B
Total debt$2.0B
Net cash$6.6B
Shareholders' equity$31.3B
Goodwill & intangibles$1.3B
Debt / equity0.06
ROE (TTM)13.8%
ROIC (TTM)9.2%
Operating margin by fiscal year
55.7%FY202142.2%FY202232.6%FY202328.1%FY202424.9%FY2025
Revenue $16.1B (FY2021) to $14.3B (FY2025), a -2.8% CAGR.

Valuation

P/E (TTM)18.9x
EV / EBITDA14.1x
Price / sales5.24x
Price / FCF23.1x
FCF yield4.33%
Buyback yield4.22%
SBC / revenue6.4%
Price / book2.58x
Forward P/E FY202613.5x
Forward P/E FY202712.6x
Forward P/E FY202811.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $849.39 across 18 analysts last quarter is theirs, not ours.

REGN vs industry median

1260 companies in Biotechnology
Gross margin 84.9% 84.4% Operating margin 25.6% -207.9% Net margin 27.9% -206.2% ROIC 9.2% 11.1%
REGN (TTM)Industry median Asset turnover 0.37 vs industry 0.01 · financial leverage 1.32

Earnings delivery

Next report 2026-10-30 · consensus EPS $16.06
83%
beat rate, 10 of 12 quarters
+7.9%
median EPS surprise
5
longest beat streak
+8+11-6+9+7+8-5+53+23+7+6+41
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-02 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
REGN Regeneron Pharmaceuticals, I $81.4B18.9x13.8%27.9%+1.0% +39.1%
MRNA Moderna, Inc. $87.0Bn/m-39.0%—−27.2% +812.9%
VRTX Vertex Pharmaceuticals Incor $126.7B28.9x23.5%33.0%+10.6% +22.3%
ARGX argenx SE $51.5B29.6x47.3%29.8%+242.1% −2.2%
ONC BeOne Medicines AG $39.4B25.6x14.7%13.9%+34.3% +16.0%
ALNY Alnylam Pharmaceuticals, Inc $31.0B38.0x100.7%12.7%+95.1% —
ROIV Roivant Sciences Ltd. $24.2Bn/m-6.2%—−67.6% —
INCY Incyte Corporation $22.9B13.9x30.7%35.0%+26.9% —
12-month window: SPY +15.9%, sector ETF XLV +24.2%. Past returns describe history only.

Recent 8-K filings

2026-10-06Material Agreement; Earnings Release; Other Events
2026-09-30Officer/Director Change; Exhibits
2026-07-30Earnings Release; Exhibits
2026-07-06Earnings Release
2026-06-17Shareholder Vote
2026-04-29Earnings Release; Exhibits

Context

Shares outstanding102,954,988
Free float96.2%
Institutional ownership89.3%
Beta0.24
Dividend yield0.47%
Last dividend$0.94 on 2026-08-18
50 / 200-day average$790.48 / $735.33
Large-cap Healthcare median P/E29.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where REGN sits among 137 scored companies in Biotechnology (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureREGNIndustry medianIndustry percentileSector median
P/E (TTM) 18.8x 18.8x
51st		 27.6x
PEG (P/E ÷ 3-yr EPS CAGR) 7.83 0.38
100th		 1.28
Price / sales 5.2x 8.8x
28th		 3.7x
Price / book 2.6x 3.9x
25th		 3.6x
Price / tangible book 2.2x 5.0x
12th		 5.8x
Price / free cash flow 23.1x 22.0x
51st		 21.2x
Price / operating cash flow 18.3x 18.0x
51st		 17.1x
Enterprise value $75.4B $1.6B
99th		 $2.5B
EV / sales 4.9x 8.2x
36th		 3.8x
EV / EBITDA 13.1x 20.2x
38th		 16.2x
EV / EBIT 14.4x 21.8x
35th		 23.0x
EV / free cash flow 21.4x 21.3x
51st		 24.6x
Earnings yield 5.3% -5.4%
86th		 -0.3%
FCF yield 4.3% -4.2%
85th		 1.7%
Operating cash flow yield 5.5% -3.9%
85th		 2.9%
Graham number (per share) $520.36 $17.65
100th		 $26.70

Profitability (TTM)

MeasureREGNIndustry medianIndustry percentileSector median
Gross margin 84.9% 86.5%
47th		 65.1%
EBITDA margin 37.0% -37.5%
89th		 6.6%
Operating margin 25.6% -43.4%
84th		 3.5%
EBIT margin 33.6% -50.9%
88th		 2.4%
Net margin 27.9% -51.7%
86th		 0.3%
NOPAT margin 21.4% -36.4%
82nd		 2.7%
FCF margin 22.7% -48.6%
84th		 4.3%
Operating cash flow margin 28.6% -47.2%
87th		 7.1%
R&D / revenue 41.6% 47.3%
47th		 12.4%
SG&A / revenue 17.7% 65.7%
6th		 37.9%
Stock comp / revenue 6.4% 13.2%
21st		 4.5%
Effective tax rate 16.2% 21.0%
15th		 21.0%

Returns on capital

MeasureREGNIndustry medianIndustry percentileSector median
ROE (on average equity) 14.0% -26.1%
78th		 0.8%
ROA 10.8% -17.4%
82nd		 -0.3%
ROIC 12.9% 3.2%
56th		 5.5%
ROCE 14.4% -15.9%
83rd		 2.3%
Return on tangible assets 13.1% -16.5%
82nd		 1.7%
Cash ROIC (OCF / invested capital) 17.3% -14.5%
70th		 9.7%
Gross profitability (GP / assets) 31.6% 27.4%
54th		 29.9%
ROIC, 3-yr average 14.6% -30.4%
82nd		 2.6%
ROIC, 5-yr average 22.0% -5.4%
68th		 3.2%
ROE, 5-yr average 17.9% -32.6%
96th		 -4.9%
Incremental ROIC -38.9% 14.8%
21st		 17.2%

Growth

MeasureREGNIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 9.3% 19.5%
40th		 10.5%
Revenue growth (QoQ) 19.0% 15.4%
56th		 7.2%
Revenue CAGR, 3 yr 7.0% 24.6%
33rd		 10.7%
Revenue CAGR, 5 yr 4.6% 18.6%
26th		 12.1%
Gross profit CAGR, 3 yr 7.2% 19.1%
35th		 10.6%
Operating income CAGR, 3 yr -4.5% 20.7%
24th		 11.7%
Net income growth (TTM YoY) -2.9% 61.9%
26th		 17.5%
Net income CAGR, 3 yr 0.2% 14.9%
31st		 11.3%
EPS growth (TTM YoY) -1.3% 58.1%
26th		 19.2%
EPS CAGR, 3 yr 2.4% 14.3%
31st		 14.0%
EPS CAGR, 5 yr -6.3% 17.4%
20th		 8.1%
FCF growth (TTM YoY) -8.4% 37.2%
14th		 18.6%
FCF CAGR, 3 yr -5.3% 28.7%
6th		 15.4%
Operating cash flow CAGR, 3 yr -2.1% 24.8%
6th		 11.9%
Book value CAGR, 3 yr 12.1% -2.2%
70th		 2.1%
Dividend CAGR, 3 yr 29.4% — 2.2%
Sustainable growth rate 12.8% 22.1%
23rd		 12.2%

Margin history & stability

MeasureREGNIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 85.0% 82.4%
54th		 62.6%
Operating margin, 3-yr average 27.6% -129.3%
95th		 1.0%
Net margin, 3-yr average 30.4% -111.8%
93rd		 -2.6%
FCF margin, 3-yr average 24.5% -109.9%
90th		 3.2%
Revenue stability (0-1) 0.87 0.64
77th		 0.80
Earnings stability (0-1) 0.69 0.38
72nd		 0.37
Margin stability (0-1) 0.99 0.83
96th		 0.93

Liquidity (latest quarter)

MeasureREGNIndustry medianIndustry percentileSector median
Cash & short-term investments $8.0B $456.5M
100th		 $330.9M
Net cash (− = net debt) $6.0B $253.5M
100th		 $8.4M
Working capital $12.9B $441.4M
100th		 $381.1M
Current ratio 3.34 5.12
25th		 3.02
Quick ratio 2.78 4.88
21st		 2.51
Cash ratio (cash + ST investments / current liabilities) 1.45 4.14
15th		 1.43
Defensive interval (days) 577 days 531 days
59th		 415 days

Leverage & solvency (latest quarter)

MeasureREGNIndustry medianIndustry percentileSector median
Total debt $2.0B $92.5M
96th		 $289.1M
Debt / equity 0.06 0.15
31st		 0.45
Net debt / equity −0.19 −0.63
75th		 −0.13
Debt / assets 4.8% 12.4%
27th		 24.4%
Debt / capital 5.9% 13.1%
31st		 31.1%
Debt / EBITDA 0.35 0.84
27th		 2.62
Net debt / EBITDA −1.04 −1.05
52nd		 1.42
Interest coverage (EBIT / interest) 94.2x −2.6x
93rd		 2.1x
Cash interest coverage 80.2x −2.3x
91st		 3.6x
Debt payback (years of OCF) 0.4 yrs 0.8 yrs
34th		 2.7 yrs
Liabilities / assets 24.0% 31.5%
36th		 49.8%
IS credit model rating AAA — —
Implied credit spread (bps) 50 225
0th		 225

Efficiency

MeasureREGNIndustry medianIndustry percentileSector median
Asset turnover 0.39 0.36
57th		 0.56
Fixed asset turnover 2.85 4.58
37th		 4.87
Inventory turnover 0.7 2.4
12th		 2.7
Receivables turnover 2.6 5.9
12th		 6.4
Days sales outstanding 143 days 58 days
89th		 57 days
Days inventory outstanding 488 days 152 days
88th		 136 days
Days payables outstanding 146 days 173 days
46th		 59 days
Cash conversion cycle (days) 485 days 12 days
94th		 70 days
Capex / revenue 5.9% 1.6%
78th		 2.6%
Capex / depreciation 1.74 0.39
85th		 0.55
Operating expense ratio 53.5% 104.5%
18th		 56.5%

Cash flow & earnings quality

MeasureREGNIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.03 1.18
43rd		 1.61
FCF / net income 0.81 1.08
41st		 1.36
FCF / operating cash flow 79.3% 97.0%
18th		 81.2%
Capex / operating cash flow 20.7% 3.0%
82nd		 18.8%
Accruals ratio -0.3% -5.4%
71st		 -5.4%
Sloan accruals ratio -2.0% 4.4%
32nd		 -1.3%
Earnings quality score (0-1) 1.00 0.75
81st		 0.75

Dividends & buybacks

MeasureREGNIndustry medianIndustry percentileSector median
Dividend yield 0.5% 0.0%
100th		 0.0%
Dividend per share (TTM) $3.70 $0.00
100th		 $0.00
Payout ratio (dividends / net income) 8.7% 0.0%
97th		 0.0%
Dividends / FCF 10.7% 0.0%
98th		 0.0%
Dividend growth (YoY) 106.5% — 4.5%
Buyback yield 4.0% 0.0%
96th		 0.0%
Shareholder yield (dividends + buybacks) 4.5% 0.0%
96th		 0.0%
Share count change (YoY) -1.7% 6.8%
10th		 2.0%
Buybacks, last 5 years $15.8B $0
100th		 $0

Scores & forensic checks

MeasureREGNIndustry medianIndustry percentileSector median
IS score 68 38
84th		 46
IS profitability 82 20
89th		 22
IS growth 45 61
27th		 60
IS value 69 36
93rd		 39
IS momentum 67 60
57th		 67
IS risk (safety) 100 90
52nd		 80
IS quality 85 44
93rd		 49
IS balance sheet 97 66
98th		 55
IS earnings quality 68 51
85th		 56
IS cash flow 69 30
83rd		 41
Piotroski F-score (0-9) 7 4
89th		 5
Altman Z-score 6.4 3.9
67th		 3.2
Beneish M-score −2.31 −2.35
51st		 −2.62
Ohlson O-score −11.29 −6.14
7th		 −7.16
IS credit score 97 65
96th		 62

Per share

MeasureREGNIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $40.53 −$0.64
99th		 −$0.03
Book value per share $296.92 $3.68
100th		 $7.10
Tangible book per share $294.02 $3.47
100th		 $1.91
Revenue per share $145.46 $1.94
100th		 $9.38
FCF per share $32.98 −$0.66
100th		 $0.46
Operating cash flow per share $41.60 −$0.59
100th		 $0.93
Cash per share $74.86 $3.93
99th		 $3.51

Size (TTM)

MeasureREGNIndustry medianIndustry percentileSector median
Market cap $81.4B $1.9B
99th		 $2.4B
Revenue $15.5B $204.6M
100th		 $770.2M
EBITDA $5.8B −$55.6M
100th		 $56.1M
Net income $4.3B −$85.2M
99th		 −$3.3M
Free cash flow $3.5B −$75.1M
99th		 $41.2M
Total assets $41.7B $744.5M
100th		 $1.3B
Shareholders' equity $31.7B $425.4M
100th		 $568.4M
Employees 15,410 325
100th		 1,086

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 6$753.76$4,52351,974
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 35$755.91$26,45751,939
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 16$757.68$12,12351,923
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 24$758.16$18,19651,899
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 14$759.96$10,63951,885
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 74$760.65$56,28851,811
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 27$761.36$20,55751,784
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 55$762.57$41,94151,729
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 25$763.76$19,09451,704
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 219$764.40$167,40451,485
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 271$765.39$207,42151,214
2026-10-14Murphy Andrew J
Co-Chief Scientific Officer
 Open-market sale 279$766.47$213,84550,935

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Open-market saleDisposed458,393$6.7M
Option exerciseAcquired637,165$14.5M
Option exerciseDisposed637,165$14.5M
Tax withholdingDisposed326,471$20.9M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 11 notices · 19,012 shares · $13.9M
FiledFilerShares proposedEst. proceeds
2026-10-14Murphy Andrew J4,147$3.2M
2026-08-10Zoghbi Huda Y800$640,000
2026-08-10Guarini Kathryn400$320,000
2026-07-02Arthur F. Ryan400$249,888
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 10 trades (6 purchases) · Senate 1 (1 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-07-07Ro KhannaHousePurchase$1,001 - $15,0002026-08-12
2026-05-15Gilbert CisnerosHouseSale$1,001 - $15,0002026-06-09
2026-05-14Gilbert Ray CisnerosHouseSale (Full)$1,001 - $15,0002026-06-09
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-21
2024-04-04Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-05-15
2024-04-04Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-05-14
2024-04-04Thomas Hawley TubervilleSenateSale (Full)$1,001 - $15,0002024-05-14
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.9,113,506$5.7B8.85%
VANGUARD CAPITAL MANAGEMENT LLC6,629,759$4.1B6.44%
DODGE & COX4,871,137$3.0B4.73%
STATE STREET CORP4,834,688$3.0B4.70%
Invesco Ltd.3,940,665$2.5B3.83%
JPMORGAN CHASE & CO3,454,116$2.2B3.35%
VANGUARD PORTFOLIO MANAGEMENT LLC3,175,313$2.0B3.08%
FRANKLIN RESOURCES INC2,771,779$1.7B2.69%
GEODE CAPITAL MANAGEMENT, LLC2,625,810$1.6B2.55%
LOOMIS SAYLES & CO L P1,859,172$1.2B1.81%
Nuveen, LLC1,765,033$1.1B1.71%
PRICE T ROWE ASSOCIATES INC /MD/1,529,709$953.8M1.49%
MORGAN STANLEY1,323,048$825.0M1.29%
BANK OF AMERICA CORP /DE/1,291,053$805.0M1.25%
WELLINGTON MANAGEMENT GROUP LLP1,270,087$792.0M1.23%

Institutional ownership by quarter

2023-092026-0689.3%
% of shares held by 13F filers
2023-092026-061,340
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,34089.3%127486540168
2026-03-311,39885.9%14157845898
2025-12-311,38287.0%273499456104
2025-09-301,24084.2%172485419111
2025-06-301,20186.5%133444477201
2025-03-311,28790.3%139528450145
2024-12-311,31390.4%170476491214
2024-09-301,38790.8%14553646370
2024-06-301,32791.1%12354742687
2024-03-311,31090.2%15048345089
2023-12-311,26788.3%18744044069
2023-09-301,17187.9%11039844482

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-30SCHEDULE 13GVanguard Capital Management7.4%7,660,810
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-08-06SCHEDULE 13G/AAbigail P. Johnson3.2%3,359,563
2025-06-05SCHEDULE 13G/AJPMORGAN CHASE & CO.4.4%4,742,611
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.10%$2.4B
VTSAX0.10%$2.4B
VSMPX0.10%$2.4B
VTI0.10%$2.4B
VOO0.11%$2.0B
VFIAX0.11%$2.0B

Share structure

Shares outstanding102,954,988
Float99,067,402
Free float96.2%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$16.1B$12.2B$13.1B$14.2B$14.3B
Cost of revenue$2.7B$1.7B$2.2B$2.0B$2.1B
Gross profit$13.3B$10.5B$10.9B$12.2B$12.2B
R&D$2.6B$3.1B$4.0B$5.2B$5.9B
SG&A$1.8B$2.1B$2.5B$3.0B$2.7B
Operating income$8.9B$5.4B$4.3B$4.0B$3.6B
EBITDA$9.7B$5.3B$4.7B$5.3B$5.8B
Pretax income$9.3B$4.9B$4.2B$4.8B$5.2B
Income tax$1.3B$520.4M$245.7M$367.3M$725.8M
Net income$8.1B$4.3B$4.0B$4.4B$4.5B
EPS, diluted$71.97$38.22$34.77$38.34$41.48
Diluted shares112.2M113.5M113.7M115.1M108.6M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$5.7B$7.7B$10.8B$9.0B$8.6B
Receivables$6.0B$5.3B$5.7B$6.2B$5.7B
Inventory$2.0B$2.4B$2.6B$3.1B$3.2B
Total current assets$14.0B$15.9B$19.5B$18.7B$18.0B
PP&E, net$3.5B$3.8B$4.1B$4.6B$5.1B
Goodwill & intangibles$6.7M$915.5M$1.0B$1.1B$1.3B
Total assets$25.4B$29.2B$33.1B$37.8B$40.6B
Accounts payable$564.0M$589.2M$606.6M$789.5M$939.0M
Total current liabilities$3.9B$3.1B$3.4B$3.9B$4.4B
Long-term debt$2.0B$2.0B$2.0B$2.0B$2.0B
Total liabilities$6.7B$6.6B$7.1B$8.4B$9.3B
Shareholders' equity$18.8B$22.7B$26.0B$29.4B$31.3B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$8.1B$4.3B$4.0B$4.4B$4.5B
Depreciation & amortization$286.2M$341.4M$421.0M$482.9M$543.7M
Stock-based compensation$601.7M$725.0M$885.0M$982.8M$993.7M
Change in working capital−$1.9B−$243.3M−$94.1M−$618.3M$532.6M
Operating cash flow$7.1B$5.0B$4.6B$4.4B$5.0B
Capital expenditure−$551.9M−$590.1M−$926.4M−$755.9M−$898.4M
Free cash flow$6.5B$4.4B$3.7B$3.7B$4.1B
Investing cash flow−$5.4B−$3.8B−$3.2B−$2.5B−$629.1M
Net debt issued / repaid$0$0$0$0$0
Buybacks−$2.7B−$2.5B−$2.9B−$3.6B−$3.4B
Dividends paid$0$0$0$0−$370.3M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin83.1%85.5%83.0%86.1%85.4%
Operating margin55.7%42.2%32.6%28.1%24.9%
Net margin50.2%35.6%30.1%31.1%31.4%
FCF margin40.6%36.3%29.1%25.3%28.4%
ROE54.2%20.9%16.3%16.0%14.9%
ROIC49.1%26.0%22.6%16.0%12.2%
ROA37.9%15.9%12.7%12.5%11.5%
Debt / equity0.140.120.100.090.09
Interest coverage163.8x82.8x58.5x87.6x120.4x
Current ratio3.565.065.694.734.13
Revenue growth+89.1%−24.3%+7.8%+8.3%+1.0%
EPS growth+127.9%−46.7%−8.7%+11.6%+8.1%
P/E at year end8.8x18.9x25.1x18.3x18.4x
EV / EBITDA at year end7.0x14.6x19.4x14.0x13.2x
FCF yield at year end9.18%5.41%3.84%4.46%4.92%
Dividend payout0.0%0.0%0.0%0.0%8.2%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Product$12.1B$6.9B$7.1B$7.6B$6.3B
Collaboration Revenue—$2.1B$5.5B$6.1B$7.3B
Product and Service, Other$281.2M$365.1M$536.1M$515.0M$702.6M

Revenue by region · FY2025

UNITED STATES$4.4B · 90%
Rest Of World$507.5M · 10%

Street estimates by fiscal year

Next report 2026-10-30 · consensus EPS $16.06 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$17.6B$15.8B – $19.0B$58.55$44.28 – $64.881513.5x
2027$18.7B$17.0B – $20.2B$62.56$51.54 – $67.39912.6x
2028$20.1B$17.6B – $22.6B$69.66$61.43 – $78.32711.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$10.16$14.29+40.6%$3.8B$4.3B+12.4%
2026-04-29$8.91$9.47+6.3%$3.5B$3.6B+3.6%
2026-01-30$10.74$11.44+6.5%$3.8B$3.9B+1.9%
2025-10-28$9.65$11.83+22.6%$3.6B$3.8B+4.5%
2025-08-01$8.43$12.89+52.9%$3.3B$3.7B+11.8%
2025-04-29$8.62$8.22−4.6%$3.2B$3.0B−6.8%
2025-02-04$11.21$12.07+7.7%$3.7B$3.8B+1.3%
2024-10-31$11.69$12.46+6.6%$3.7B$3.7B+1.2%
2024-08-01$10.61$11.56+9.0%$3.4B$3.5B+4.8%
2024-05-02$10.17$9.55−6.1%$3.2B$3.1B−2.5%
2024-02-02$10.73$11.86+10.5%$3.3B$3.4B+4.2%
2023-11-02$10.72$11.59+8.1%$3.2B$3.4B+4.4%
2023-08-03$9.84$10.24+4.1%$3.0B$3.2B+4.7%
2023-05-04$9.25$10.09+9.1%$3.0B$3.2B+5.4%
2023-02-03$10.03$12.56+25.2%$3.1B$3.4B+9.3%
2022-11-03$9.48$11.14+17.5%$2.9B$2.9B+0.7%
2022-08-03$8.53$9.77+14.5%$2.8B$2.9B+2.2%
2022-05-04$9.74$8.93−8.3%$2.7B$3.0B+10.2%
2022-02-04$18.35$21.32+16.2%$4.6B$5.0B+8.5%
2021-11-04$10.10$14.37+42.3%$2.7B$3.5B+28.5%
2021-08-05$17.53$25.80+47.2%$3.9B$5.1B+31.2%
2021-05-06$9.00$9.89+9.9%$2.6B$2.5B−4.4%
2021-02-05$8.39$9.53+13.6%$2.5B$2.4B−1.4%
2020-11-05$7.14$8.36+17.1%$301.5M$2.3B+660.9%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.806-220.706-290.607-060.507-130.707-201.007-270.708-030.708-100.608-170.508-240.608-31
Week ofNotionalSharesTrades
2026-08-31$612.6M739,32742,930
2026-08-24$516.7M632,04739,370
2026-08-17$641.3M776,28945,392
2026-08-10$685.4M853,16543,575
2026-08-03$713.7M931,04547,571
2026-07-27$1.0B1,434,61056,241

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1550.0%
DateShort shareShort volumeTotal volume
2026-10-1550.0%146,756293,747
2026-10-1447.5%150,486316,725
2026-10-1342.0%90,722215,813
2026-10-1239.2%102,526261,454
2026-10-0946.7%88,970190,705
2026-10-0847.3%106,336224,943
2026-10-0745.4%117,046257,920
2026-10-0645.0%95,076211,459
2026-10-0552.2%134,776258,029
2026-10-0252.0%134,146257,918
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.5Jan+0.6Feb+2.3Mar+0.7Apr+0.9May-2.7Jun+7.1Jul+5.0Aug-0.8Sep-0.6Oct+4.2Nov+2.3Dec
MonthAvg returnUp yearsYears
Jan+1.5%45%20
Feb+0.6%60%20
Mar+2.3%62%21
Apr+0.7%45%20
May+0.9%65%20
Jun−2.7%40%20
Jul+7.1%75%20
Aug+5.0%70%20
Sep−0.8%40%20
Oct−0.6%40%20
Nov+4.2%65%20
Dec+2.3%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1457.2
MFI50.1
ADX18.3
Stochastic %K / %D77.5 / 63.6
Williams %R-21.4
CCI83
TSI / signal-3.6 / -10.1
Chaikin money flow0.00
ATR$21.66
Bollinger width13.5%
Volume vs 20-day avg0.90x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$764.69 (+3.4%)
SMA 50$790.72 (+0.0%)
SMA 200$735.17 (+7.6%)
EMA 21$768.52 (+2.9%)
EMA 50$765.86 (+3.2%)
EMA 200$728.64 (+8.5%)
Bollinger upper$816.33 (−3.1%)
Bollinger lower$713.05 (+10.9%)
Parabolic SAR$735.95 (+7.4%)
Open the live chart, 110+ indicators

About Regeneron Pharmaceuticals, Inc.

Regeneron Pharmaceuticals, Inc. is a global biopharmaceutical enterprise focused on discovering, inventing, developing, manufacturing, and bringing to market medical treatments for a wide array of illnesses. Its therapeutic portfolio includes EYLEA, an injection used to treat various ophthalmic conditions such as wet age-related macular degeneration, diabetic macular edema, myopic choroidal neovascularization, diabetic retinopathy, and macular edema resulting from retinal vein occlusion (both central and branch). Other significant offerings are Dupixent, an injectable solution for atopic dermatitis and asthma in both adults and pediatric patients; Libtayo, indicated for metastatic or locally advanced cutaneous squamous cell carcinoma; Praluent, an injection prescribed for adults with heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease; REGEN-COV for COVID-19; and Kevzara, a solution targeting rheumatoid arthritis in adult patients. Furthermore, Regeneron provides Inmazeb for infections caused by Zaire ebolavirus; ARCALYST, an injection for cryopyrin-associated periodic syndromes, including familial cold auto-inflammatory syndrome and Muckle-Wells syndrome; and ZALTRAP, an intravenous infusion used in the treatment of metastatic colorectal cancer. In addition to its existing product lineup, the company is actively engaged in developing novel product candidates aimed at addressing unmet medical needs in areas such as ocular diseases, allergic and inflammatory conditions, cardiovascular and metabolic disorders, infectious diseases, rare diseases, cancer, pain management, and hematologic conditions. Regeneron maintains extensive collaboration and licensing agreements with a diverse range of partners, including Sanofi, Bayer, Teva Pharmaceutical Industries Ltd., Mitsubishi Tanabe Pharma Corporation, Alnylam Pharmaceuticals, Inc., Roche Pharmaceuticals, and Kiniksa Pharmaceuticals, Ltd. It also holds agreements with entities such as the U.S. Department of Health and Human Services, Zai Lab Limited, Intellia Therapeutics, Inc., the Biomedical Advanced Research Development Authority, and AstraZeneca PLC. The company was founded in 1988 and its corporate headquarters are situated in Tarrytown, New York.

https://www.regeneron.com

Key executives

NameTitlePayBorn
Leonard S. SchleiferCo-Founder, President, Chief Executive Officer & Co-Chairman$7.3M1953
George D. YancopoulosCo-Founder, President, Chief Scientific Officer & Co-Chairman$6.9M1960
Joseph J. LaRosaExecutive Vice President, General Counsel & Secretary$3.0M1959
Daniel Van PlewExecutive Vice President and GM of Industrial Operations & Product Supply$2.0M1973
Andrew J. MurphyExecutive Vice President of Research & Co-Chief Scientific Officer$1.7M1958
Christopher R. FenimoreExecutive Vice President of Finance & Chief Financial Officer$1.5M1971
Melissa LoznerSenior Vice President & Chief Compliance Officer——
Rajesh AhujaSenior Vice President of Quality Assurance & Operations——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Daniel P. Van Plew Executive Vice President and General Manager, Industrial Operations and Product Supply2025$983,382$2.7M$965,189$8.8M
Andrew J. Murphy, Ph.D. Executive Vice President, Co-Chief Scientific Officer2025$819,672$2.7M$815,164$8.5M
Joseph J. LaRosa Executive Vice President, General Counsel and Secretary2025$916,062$1.8M$911,024$7.5M
Leonard S. Schleifer, M.D., Ph.D. Board co-Chair, President and Chief Executive Officer2025$2.0M$0$3.7M$7.3M
Christopher Fenimore Executive Vice President, Finance and Chief Financial Officer2025$725,000$2.2M$721,013$7.0M
George D. Yancopoulos, M.D., Ph.D. Board co-Chair, President and Chief Scientific Officer2025$2.0M$0$3.7M$6.9M

Employees

7k20188k20199k202010k202112k202213k202315k202415k2025

Dividends

Ex-dateAmountPaid
2026-08-18$0.942026-08-31
2026-05-20$0.942026-06-04
2026-02-20$0.942026-03-05
2025-11-20$0.882025-12-05
2025-08-18$0.882025-09-03
2025-05-20$0.882025-06-06
2025-02-20$0.882025-03-20

Moat model

Narrow · Switching Costs · 2026-06-30
Cost advantage58
Intangibles38
Switching costs69
Network effect55
Efficient scale57
Our component scores (0-100) and overall 55.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms