REGN

MKT CAP:$78B

Regeneron Pharmaceuticals, Inc.

Market Cap

$78B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$745.26-$31.05 (-4.00%)

Apr 24, 2026

Company Details

Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration a...

CEO

Leonard S. Schleifer

IPO Date

Apr 2, 1991

Website

www.regeneron.com

Key Metrics TTM

Revenue

$14.3B

+1.0% YoY

Net Income

$4.5B

EPS (Diluted)

$41.56

Free Cash Flow

$4.1B

Revenue / Share

$133.42

Gross Margin

85.4%

Operating Margin

24.9%

Net Margin

31.4%

FCF Margin

28.4%

P/S

5.4x

P/E

17.3x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 4, 2026

$14.3B+1.0%EPS $41.48

Q4 2025

Feb 4, 2026

$3.9B+2.5%EPS $7.86

Q3 2025

Oct 28, 2025

$3.8B+0.9%EPS $13.62

Q2 2025

Aug 1, 2025

$3.7B+3.6%EPS $12.81

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3.0B	$2.5B	$1.3B
Q2 22	$2.9B	$2.5B	$1.3B
Q3 22	$2.9B	$2.5B	$1.2B
Q4 22	$3.4B	$2.9B	$1.3B
Q1 23	$3.2B	$2.6B	$1.0B
Q2 23	$3.2B	$2.7B	$1.0B
Q3 23	$3.4B	$2.8B	$1.2B
Q4 23	$3.4B	$2.8B	$1.1B
Q1 24	$3.1B	$2.7B	$751M
Q2 24	$3.5B	$3.1B	$1.1B
Q3 24	$3.7B	$3.2B	$1.2B
Q4 24	$3.8B	$3.2B	$990M
Q1 25	$3.0B	$2.6B	$592M
Q2 25	$3.7B	$3.1B	$1.1B
Q3 25	$3.8B	$3.2B	$1.0B
Q4 25	$3.9B	$3.3B	$880M

Valuation

Quarter	P/S	P/E
Q1 22	4.7x	9.9x
Q2 22	4.8x	12.1x
Q3 22	5.7x	14.6x
Q4 22	6.0x	16.8x
Q1 23	7.1x	21.1x
Q2 23	6.0x	17.8x
Q3 23	6.7x	21.8x
Q4 23	7.4x	24.6x
Q1 24	8.0x	27.2x
Q2 24	8.5x	26.4x
Q3 24	8.2x	24.4x
Q4 24	5.3x	17.2x
Q1 25	4.7x	14.8x
Q2 25	3.9x	12.4x
Q3 25	4.1x	12.9x
Q4 25	5.6x	18.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2.1B	$2.0B
Q2 22	$564M	$411M
Q3 22	$629M	$486M
Q4 22	$1.7B	$1.6B
Q1 23	$1.4B	$1.2B
Q2 23	$1.0B	$909M
Q3 23	$1.1B	$938M
Q4 23	$1.1B	$776M
Q1 24	$1.5B	$1.4B
Q2 24	$354M	$143M
Q3 24	$1.3B	$1.1B
Q4 24	$1.3B	$996M
Q1 25	$1.0B	$774M
Q2 25	$1.1B	$968M
Q3 25	$1.6B	$1.4B
Q4 25	$1.2B	$922M

Capital Expenditures

Quarter	CapEx
Q1 22	$142M
Q2 22	$154M
Q3 22	$143M
Q4 22	$152M
Q1 23	$178M
Q2 23	$113M
Q3 23	$176M
Q4 23	$314M
Q1 24	$162M
Q2 24	$211M
Q3 24	$184M
Q4 24	$267M
Q1 25	$272M
Q2 25	$177M
Q3 25	$201M
Q4 25	$249M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+17.3%	+18.5%
Q2 22	-44.4%	-13.5%
Q3 22	-15.0%	+6.7%
Q4 22	-31.0%	-9.2%
Q1 23	+6.6%	+28.6%
Q2 23	+10.5%	+38.1%
Q3 23	+14.5%	+25.6%
Q4 23	+0.6%	+13.6%
Q1 24	-0.5%	+10.9%
Q2 24	+12.3%	+15.7%
Q3 24	+10.6%	+18.1%
Q4 24	+10.3%	+17.4%
Q1 25	-3.7%	+1.8%
Q2 25	+3.6%	+4.8%
Q3 25	+0.9%	+7.3%
Q4 25	+2.5%	+7.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$167M	5.6%
Q2 22	$160M	5.6%
Q3 22	$166M	5.7%
Q4 22	$232M	6.8%
Q1 23	$239M	7.5%
Q2 23	$202M	6.4%
Q3 23	$204M	6.1%
Q4 23	$240M	7.0%
Q1 24	$230M	7.3%
Q2 24	$223M	6.3%
Q3 24	$225M	6.0%
Q4 24	$304M	8.0%
Q1 25	$256M	8.4%
Q2 25	$252M	6.8%
Q3 25	$237M	6.3%
Q4 25	$249M	6.4%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$770M	$450M
Q2 22	$720M	$476M
Q3 22	$819M	$529M
Q4 22	$942M	$657M
Q1 23	$1.0B	$601M
Q2 23	$982M	$652M
Q3 23	$970M	$641M
Q4 23	$1.1B	$704M
Q1 24	$1.3B	$689M
Q2 24	$1.2B	$759M
Q3 24	$1.3B	$714M
Q4 24	$1.4B	$792M
Q1 25	$1.3B	$633M
Q2 25	$1.4B	$634M
Q3 25	$1.6B	$658M
Q4 25	$1.6B	$775M

Revenue Segments

Quarter	Collaboration Revenue	Product	Product and Service, Other
Q1 22	$1.2B	$1.6B	$94M
Q2 22	$1.0B	$1.8B	$59M
Q3 22	$1.1B	$1.8B	$84M
Q1 23	$1.4B	$1.7B	$116M
Q2 23	$1.3B	$1.8B	$69M
Q3 23	$1.4B	$1.8B	$138M
Q4 23	$1.4B	$1.9B	$213M
Q1 24	$1.3B	$1.8B	$117M
Q2 24	$1.5B	$1.9B	$105M
Q3 24	$1.7B	$1.9B	$114M
Q4 24	$1.6B	$2.0B	$179M
Q1 25	$1.5B	$1.4B	$82M
Q2 25	$1.9B	$1.6B	$184M
Q3 25	$2.0B	$1.6B	$198M
Q4 25	$2.0B	$1.7B	$239M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.3B	$3.7B	$7.1B
Q2 22	$3.4B	$4.2B	$7.6B
Q3 22	$3.5B	$3.5B	$7.0B
Q4 22	$3.1B	$4.6B	$7.7B
Q1 23	$3.9B	$5.0B	$9.0B
Q2 23	$1.9B	$7.0B	$8.9B
Q3 23	$2.2B	$7.8B	$9.9B
Q4 23	$2.7B	$8.1B	$10.8B
Q1 24	$2.6B	$7.9B	$10.5B
Q2 24	$1.9B	$7.9B	$9.8B
Q3 24	$2.0B	$7.8B	$9.8B
Q4 24	$2.5B	$6.5B	$9.0B
Q1 25	$3.1B	$5.3B	$8.3B
Q2 25	$2.0B	$5.5B	$7.5B
Q3 25	$2.5B	$5.9B	$8.4B
Q4 25	$3.1B	$5.5B	$8.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	113M	-0.1%	+2.3%
Q2 22	114M	+0.8%	+2.9%
Q3 22	113M	-1.1%	-1.0%
Q4 22	114M	+1.1%	+0.7%
Q1 23	114M	0.0%	+0.8%
Q2 23	114M	-0.1%	-0.1%
Q3 23	113M	-0.4%	+0.5%
Q4 23	114M	+0.4%	-0.2%
Q1 24	115M	+1.1%	+1.0%
Q2 24	115M	+0.3%	+1.3%
Q3 24	116M	+0.7%	+2.5%
Q4 24	114M	-2.1%	0.0%
Q1 25	111M	-2.3%	-3.4%
Q2 25	109M	-2.3%	-5.9%
Q3 25	107M	-1.3%	-7.7%
Q4 25	108M	+0.3%	-5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$286.0K	10K
Q2 22	$275.6K	10K
Q3 22	$283.2K	10K
Q4 22	$288.1K	12K
Q1 23	$266.8K	12K
Q2 23	$266.5K	12K
Q3 23	$283.7K	12K
Q4 23	$255.3K	13K
Q1 24	$233.8K	13K
Q2 24	$263.7K	13K
Q3 24	$276.6K	13K
Q4 24	$250.8K	15K
Q1 25	$200.5K	15K
Q2 25	$243.3K	15K
Q3 25	$248.5K	15K
Q4 25	$252.1K	15K

Revenue / Employee