Regeneron Pharmaceuticals Financials
This page shows Regeneron Pharmaceuticals (REGN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Regeneron Pharmaceuticals has an operating margin of 24.9%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 28.1% the prior year.
Regeneron Pharmaceuticals's revenue grew a modest 1.0% year-over-year to $14.3B. This slow but positive growth earns a score of 31/100.
Regeneron Pharmaceuticals carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.13, Regeneron Pharmaceuticals holds $4.13 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Regeneron Pharmaceuticals converts 28.4% of revenue into free cash flow ($4.1B). This strong cash generation earns a score of 100/100.
Regeneron Pharmaceuticals's ROE of 14.4% shows moderate profitability relative to equity, earning a score of 58/100. This is down from 15.0% the prior year.
Regeneron Pharmaceuticals scores 7.76, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($84.9B) relative to total liabilities ($9.3B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Regeneron Pharmaceuticals passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Regeneron Pharmaceuticals generates $1.11 in operating cash flow ($5.0B OCF vs $4.5B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Regeneron Pharmaceuticals earns $81.7 in operating income for every $1 of interest expense ($3.6B vs $43.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Regeneron Pharmaceuticals generated $14.3B in revenue in fiscal year 2025. This represents an increase of 1.0% from the prior year.
Regeneron Pharmaceuticals's EBITDA was $4.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.9% from the prior year.
Regeneron Pharmaceuticals generated $4.1B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 11.3% from the prior year.
Regeneron Pharmaceuticals reported $4.5B in net income in fiscal year 2025. This represents an increase of 2.1% from the prior year.
Regeneron Pharmaceuticals earned $41.48 per diluted share (EPS) in fiscal year 2025. This represents an increase of 8.2% from the prior year.
Regeneron Pharmaceuticals held $3.1B in cash against $2.0B in long-term debt as of fiscal year 2025.
Regeneron Pharmaceuticals's operating margin was 24.9% in fiscal year 2025, reflecting core business profitability. This is down 3.2 percentage points from the prior year.
Regeneron Pharmaceuticals's net profit margin was 31.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
Regeneron Pharmaceuticals's ROE was 14.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.6 percentage points from the prior year.
Regeneron Pharmaceuticals invested $5.9B in research and development in fiscal year 2025. This represents an increase of 14.0% from the prior year.
Regeneron Pharmaceuticals spent $3.4B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 32.1% from the prior year.
Regeneron Pharmaceuticals invested $898.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 18.9% from the prior year.
REGN Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.9B+3.5% | $3.8B+2.1% | $3.7B+21.4% | $3.0B-20.1% | $3.8B+1.8% | $3.7B+4.9% | $3.5B+12.8% | $3.1B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $1.6B+10.2% | $1.5B+3.7% | $1.4B+7.1% | $1.3B-6.0% | $1.4B+11.1% | $1.3B+6.0% | $1.2B-3.9% | $1.2B |
| SG&A Expenses | $775.0M+17.8% | $657.8M+3.7% | $634.2M+0.2% | $633.0M-20.1% | $792.2M+10.9% | $714.4M-5.9% | $758.8M+10.1% | $689.0M |
| Operating Income | $879.9M-14.3% | $1.0B-4.9% | $1.1B+82.4% | $591.7M-40.2% | $990.2M-16.0% | $1.2B+10.3% | $1.1B+42.3% | $751.4M |
| Interest Expense | $12.2M-36.8% | $19.3M+436.1% | $3.6M-58.6% | $8.7M-17.1% | $10.5M-23.9% | $13.8M-6.8% | $14.8M-8.1% | $16.1M |
| Income Tax | $199.1M-34.4% | $303.3M+138.6% | $127.1M+32.0% | $96.3M+138.4% | $40.4M-73.5% | $152.4M-22.2% | $195.8M+1019.2% | -$21.3M |
| Net Income | $844.6M-42.2% | $1.5B+4.9% | $1.4B+72.1% | $808.7M-11.9% | $917.7M-31.5% | $1.3B-6.4% | $1.4B+98.4% | $722.0M |
| EPS (Diluted) | $7.78-42.9% | $13.62+6.3% | $12.81+76.2% | $7.27-10.5% | $8.12-29.6% | $11.54-7.0% | $12.41+97.9% | $6.27 |
REGN Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $40.6B+1.0% | $40.2B+5.1% | $38.2B+1.8% | $37.5B-0.6% | $37.8B+0.8% | $37.4B+3.8% | $36.1B+5.0% | $34.4B |
| Current Assets | $18.0B+0.2% | $18.0B+6.7% | $16.9B-4.1% | $17.6B-5.8% | $18.7B-3.5% | $19.3B+1.3% | $19.1B+1.1% | $18.9B |
| Cash & Equivalents | $3.1B+24.4% | $2.5B+25.6% | $2.0B-35.4% | $3.1B+24.2% | $2.5B+23.7% | $2.0B+4.7% | $1.9B-26.2% | $2.6B |
| Inventory | $3.2B-1.6% | $3.3B+1.5% | $3.2B+0.4% | $3.2B+3.4% | $3.1B+2.3% | $3.0B+5.0% | $2.9B+5.8% | $2.7B |
| Accounts Receivable | $5.7B+0.9% | $5.7B+1.4% | $5.6B+0.9% | $5.6B-10.5% | $6.2B+1.7% | $6.1B+6.8% | $5.7B+9.5% | $5.2B |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $9.3B+1.0% | $9.2B+11.2% | $8.3B+1.5% | $8.2B-3.0% | $8.4B+3.6% | $8.1B+3.0% | $7.9B+6.8% | $7.4B |
| Current Liabilities | $4.4B-1.3% | $4.4B+20.7% | $3.7B+2.8% | $3.6B-9.6% | $3.9B+7.7% | $3.7B+4.3% | $3.5B-2.0% | $3.6B |
| Long-Term Debt | $2.0B0.0% | $2.0B0.0% | $2.0B0.0% | $2.0B0.0% | $2.0B0.0% | $2.0B0.0% | $2.0B0.0% | $2.0B |
| Total Equity | $31.3B+1.0% | $31.0B+3.4% | $29.9B+1.9% | $29.4B+0.1% | $29.4B+0.1% | $29.3B+4.0% | $28.2B+4.5% | $27.0B |
| Retained Earnings | $35.8B+2.1% | $35.0B+4.1% | $33.7B+4.0% | $32.4B+2.2% | $31.7B+3.0% | $30.8B+4.6% | $29.4B+5.1% | $28.0B |
REGN Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.2B-27.7% | $1.6B+41.4% | $1.1B+9.5% | $1.0B-17.2% | $1.3B-2.2% | $1.3B+264.7% | $354.0M-76.6% | $1.5B |
| Capital Expenditures | $248.7M+23.5% | $201.4M-8.0% | $219.0M-4.5% | $229.3M+14.9% | $199.6M-17.5% | $241.9M+34.0% | $180.5M+34.8% | $133.9M |
| Free Cash Flow | $922.0M-34.9% | $1.4B+53.2% | $925.4M+13.4% | $815.8M-23.3% | $1.1B+1.3% | $1.0B+504.8% | $173.5M-87.4% | $1.4B |
| Investing Cash Flow | $220.3M+154.7% | -$402.9M+63.2% | -$1.1B-269.0% | $647.5M+84.7% | $350.6M+161.0% | -$574.4M-3.1% | -$557.2M+67.0% | -$1.7B |
| Financing Cash Flow | -$780.1M-8.7% | -$717.9M+36.4% | -$1.1B-3.6% | -$1.1B+4.1% | -$1.1B-79.1% | -$634.0M-32.6% | -$478.1M-1115.1% | $47.1M |
| Dividends Paid | $92.7M+1.6% | $91.2M-1.5% | $92.6M-1.3% | $93.8M | $0 | $0 | $0 | $0 |
| Share Buybacks | $671.7M+1.2% | $664.0M-37.4% | $1.1B+1.9% | $1.0B+7.0% | $973.0M+32.4% | $735.1M+21.7% | $603.9M+107.3% | $291.3M |
REGN Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 22.7%-4.7pp | 27.4%-2.0pp | 29.4%+9.8pp | 19.5%-6.6pp | 26.1%-5.6pp | 31.7%+1.6pp | 30.1%+6.3pp | 23.9% |
| Net Margin | 21.7%-17.2pp | 38.9%+1.0pp | 37.9%+11.2pp | 26.7%+2.5pp | 24.2%-11.8pp | 36.0%-4.3pp | 40.4%+17.4pp | 23.0% |
| Return on Equity | 2.7%-2.0pp | 4.7%+0.1pp | 4.7%+1.9pp | 2.8%-0.4pp | 3.1%-1.4pp | 4.6%-0.5pp | 5.1%+2.4pp | 2.7% |
| Return on Assets | 2.1%-1.6pp | 3.6%-0.0pp | 3.6%+1.5pp | 2.1%-0.3pp | 2.4%-1.1pp | 3.6%-0.4pp | 4.0%+1.9pp | 2.1% |
| Current Ratio | 4.13+0.1 | 4.06-0.5 | 4.60-0.3 | 4.93+0.2 | 4.73-0.5 | 5.28-0.2 | 5.44+0.2 | 5.27 |
| Debt-to-Equity | 0.060.0 | 0.060.0 | 0.070.0 | 0.070.0 | 0.070.0 | 0.070.0 | 0.070.0 | 0.07 |
| FCF Margin | 23.7%-14.0pp | 37.8%+12.6pp | 25.2%-1.8pp | 26.9%-1.1pp | 28.1%-0.1pp | 28.2%+23.3pp | 4.9%-38.9pp | 43.8% |
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Frequently Asked Questions
What is Regeneron Pharmaceuticals's annual revenue?
Regeneron Pharmaceuticals (REGN) reported $14.3B in total revenue for fiscal year 2025. This represents a 1.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Regeneron Pharmaceuticals's revenue growing?
Regeneron Pharmaceuticals (REGN) revenue grew by 1% year-over-year, from $14.2B to $14.3B in fiscal year 2025.
Is Regeneron Pharmaceuticals profitable?
Yes, Regeneron Pharmaceuticals (REGN) reported a net income of $4.5B in fiscal year 2025, with a net profit margin of 31.4%.
What is Regeneron Pharmaceuticals's earnings per share (EPS)?
Regeneron Pharmaceuticals (REGN) reported diluted earnings per share of $41.48 for fiscal year 2025. This represents a 8.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Regeneron Pharmaceuticals's EBITDA?
Regeneron Pharmaceuticals (REGN) had EBITDA of $4.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Regeneron Pharmaceuticals have?
As of fiscal year 2025, Regeneron Pharmaceuticals (REGN) had $3.1B in cash and equivalents against $2.0B in long-term debt.
What is Regeneron Pharmaceuticals's operating margin?
Regeneron Pharmaceuticals (REGN) had an operating margin of 24.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Regeneron Pharmaceuticals's net profit margin?
Regeneron Pharmaceuticals (REGN) had a net profit margin of 31.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Regeneron Pharmaceuticals's return on equity (ROE)?
Regeneron Pharmaceuticals (REGN) has a return on equity of 14.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Regeneron Pharmaceuticals's free cash flow?
Regeneron Pharmaceuticals (REGN) generated $4.1B in free cash flow during fiscal year 2025. This represents a 11.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Regeneron Pharmaceuticals's operating cash flow?
Regeneron Pharmaceuticals (REGN) generated $5.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Regeneron Pharmaceuticals's total assets?
Regeneron Pharmaceuticals (REGN) had $40.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Regeneron Pharmaceuticals's capital expenditures?
Regeneron Pharmaceuticals (REGN) invested $898.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Regeneron Pharmaceuticals spend on research and development?
Regeneron Pharmaceuticals (REGN) invested $5.9B in research and development during fiscal year 2025.
Does Regeneron Pharmaceuticals buy back shares?
Yes, Regeneron Pharmaceuticals (REGN) spent $3.4B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
What is Regeneron Pharmaceuticals's current ratio?
Regeneron Pharmaceuticals (REGN) had a current ratio of 4.13 as of fiscal year 2025, which is generally considered healthy.
What is Regeneron Pharmaceuticals's debt-to-equity ratio?
Regeneron Pharmaceuticals (REGN) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Regeneron Pharmaceuticals's return on assets (ROA)?
Regeneron Pharmaceuticals (REGN) had a return on assets of 11.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Regeneron Pharmaceuticals's Altman Z-Score?
Regeneron Pharmaceuticals (REGN) has an Altman Z-Score of 7.76, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Regeneron Pharmaceuticals's Piotroski F-Score?
Regeneron Pharmaceuticals (REGN) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Regeneron Pharmaceuticals's earnings high quality?
Regeneron Pharmaceuticals (REGN) has an earnings quality ratio of 1.11x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Regeneron Pharmaceuticals cover its interest payments?
Regeneron Pharmaceuticals (REGN) has an interest coverage ratio of 81.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Regeneron Pharmaceuticals?
Regeneron Pharmaceuticals (REGN) scores 82 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.