Biotechnology company inventing life-transforming medicines for serious diseases including cancer and cardiovascular conditions.MoreShow less
Profile & Fundamentals
Regeneron Pharmaceuticals (REGN.NASDAQ) Profile & Fundamentals
Review Regeneron Pharmaceuticals reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Regeneron Pharmaceuticals: Company Profile & Ownership
Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines to treat various diseases worldwide. The company develops product candidates to treat eye, allergic and inflammatory, cardiovascular, metabolic, neurological, infectious, and rare diseases; and cancer, hematologic conditions. It also offers EYLEA injections for wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; retinopathy of prematurity; Dupixent injection to treat atopic dermatitis and asthma; Libtayo injection for metastatic or locally advanced cutaneous squamous cell carcinoma; Praluent injection to treat heterozygous familial hypercholesterolemia (HoFH); and Kevzara solution for rheumatoid arthritis. It has license and collaboration agreement with Bayer for the development and commercialization of EYLEA 8 mg and EYLEA; Alnylam Pharmaceuticals, Inc. to discover, develop, and commercialize RNAi therapeutics for diseases by addressing therapeutic disease targets expressed in eye and central nervous system; Intellia Therapeutics, Inc. to advance CRISPR/Cas9 gene-editing technology for in vivo therapeutic development for therapies focused on neurological and muscular diseases; Hansoh Pharmaceuticals Group Company Limited to acquire development and commercial rights for HS-20094, a dual GLP-1/GIP receptor; and Tessera Therapeutics, Inc. develops and commercializes TSRA-196, an investigational gene editing therapy for Alpha-1 antitrypsin deficiency. The company has a strategic collaboration with Telix Pharmaceuticals Limited to develop and commercialize radiopharmaceutical therapies. It also has a strategic collaboration with CytomX Therapeutics, Inc. to create conditionally-activated bispecific cancer therapies. It has a strategic alliance with Sanofi to develop long-acting immunology antibodies. The company was incorporated in 1988 and is based in Tarrytown, New York.
Company profile record
Regeneron Pharmaceuticals Inc
Common Stock · Health Care · Biotechnology
Company
- Company / asset
- Regeneron Pharmaceuticals Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Biotechnology
- HQ
- 🇺🇸 United States
- Head office
- 777 Old Saw Mill River Road, Tarrytown, NY, United States, 10591-6707
Leadership & scale
- Chief executive
- Dr. Leonard S. Schleifer M.D., Ph.D.
- CEO year born
- 1953
- Full-time employees
- 15.4K
- Fiscal year end
- December
- IPO date
- 1991-04-02
Fundamentals snapshot
- Market Cap
- USD 96.7B
- P/E
- 20.1x
- Revenue (Q3 26)
- USD 5.1B
- Profit (Q3 26)
- USD 1.9B
- Dividend Yield
- 0.3%
- Revenue (FY 25)
- USD 14.3B
- Shares in public float
- 96.3M
- Insider ownership
- 2.07%
Reporting & identifiers
- Symbol
- REGN.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US75886F1075
- Asset ID
- equity_f07d8826-7230-57a5-888a-89479eb31540
Regeneron Pharmaceuticals: Ownership
Shares Outstanding
Latest: 105.6M | Max: 116.2M | Min: 105.6M
Latest reported ownership snapshot
Float Shares
91.24%
96.3M latest reported shares
Insider Ownership
2.07%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 116,203,500 |
| 2018-01-01 | 114,800,000 |
| 2019-01-01 | 114,317,600 |
| 2020-01-01 | 112,214,100 |
| 2021-01-01 | 113,200,000 |
| 2022-01-01 | 114,000,000 |
| 2023-01-01 | 113,800,000 |
| 2024-01-01 | 113,800,000 |
| 2025-01-01 | 107,500,000 |
| 2026-01-01 | 105,600,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock Inc | 9,113,506 | 8.81% | 2026-06-30 |
| Vanguard Capital Management, LLC | 6,629,759 | 6.41% | 2026-06-30 |
| Dodge & Cox | 4,871,137 | 4.71% | 2026-06-30 |
| State Street Corp | 4,834,688 | 4.67% | 2026-06-30 |
| Amvescap Plc. | 3,940,665 | 3.81% | 2026-06-30 |
| JPMorgan Chase & Co | 3,774,199 | 3.65% | 2026-06-30 |
| Vanguard MStar Total Stk Mkt Idx Invest | 3,211,682 | 3.1% | 2026-09-30 |
| Vanguard Portfolio Management, LLC | 3,175,313 | 3.07% | 2026-06-30 |
| Dodge & Cox Stock I | 3,089,092 | 2.99% | 2026-09-30 |
| Franklin Templeton Inc | 2,771,839 | 2.68% | 2026-06-30 |
| Geode Capital Management, LLC | 2,625,810 | 2.54% | 2026-06-30 |
| Vanguard 500 Index Investor | 2,574,347 | 2.49% | 2026-09-30 |
| Invesco QQQ Trust | 2,103,620 | 2.03% | 2026-10-30 |
| Nuveen, LLC | 2,019,974 | 1.95% | 2026-06-30 |
| Loomis, Sayles & Company LP | 1,859,172 | 1.8% | 2026-06-30 |
Regeneron Pharmaceuticals: Earnings, Profitability & Valuation
Latest Financials Filed On
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's headline financial results show an accelerating top line, with second-quarter 2026 revenue expanding 17% year-over-year to $4.29 billion. Although accounting net income dipped slightly due to clinical trial spending and one-off research charges, cash flow tells a much stronger story. Blockbuster immunology sales surged 38% globally to $6.0 billion, demonstrating that demand is expanding rather than slowing. Crucially, the full repayment of a $3.1 billion partnership development balance in mid-2026 fundamentally changes the earnings picture. Operating free cash flow of $3.52 billion easily funds heavy research reinvestment. Removing historical partnership profit deductions allows commercial gains to flow directly into company earnings, establishing a higher, unencumbered baseline for future profits.
The company's headline financial results show an accelerating top line, with second-quarter 2026 revenue expanding 17% year-over-year to $4.29 billion. Although accounting net income dipped slightly due to clinical trial spending and one-off research charges, cash flow tells a much stronger story. Blockbuster immunology sales surged 38% globally to $6.0 billion, demonstrating that demand is expanding rather than slowing. Crucially, the full repayment of a $3.1 billion partnership development balance in mid-2026 fundamentally changes the earnings picture. Operating free cash flow of $3.52 billion easily funds heavy research reinvestment. Removing historical partnership profit deductions allows commercial gains to flow directly into company earnings, establishing a higher, unencumbered baseline for future profits.
Revenue, Net Income, and Free Cash Flow
Latest: USD 14.3B | Max: USD 16.1B | Min: USD 895.5M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 18x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins remain world-class at 85.4%, demonstrating formidable pricing power and highly efficient manufacturing across complex biologic therapies. Operating margins moderated toward 25% from pandemic peaks, driven entirely by deliberate increases in research spending and promotional costs for new product launches rather than structural operational decay. Profit margins are now positioned for a structural rebound. Eliminating the partnership development reimbursement liability removes a multi-hundred-million-dollar quarterly profit drag. As high-margin partnership royalties flow unhindered and upgraded high-dose formulations achieve manufacturing scale, operating margins should naturally expand back toward 30% over the coming years.
Gross profit margins remain world-class at 85.4%, demonstrating formidable pricing power and highly efficient manufacturing across complex biologic therapies. Operating margins moderated toward 25% from pandemic peaks, driven entirely by deliberate increases in research spending and promotional costs for new product launches rather than structural operational decay. Profit margins are now positioned for a structural rebound. Eliminating the partnership development reimbursement liability removes a multi-hundred-million-dollar quarterly profit drag. As high-margin partnership royalties flow unhindered and upgraded high-dose formulations achieve manufacturing scale, operating margins should naturally expand back toward 30% over the coming years.
Profitability Margins
Latest: 85.4% | Max: 93.8% | Min: 18.4%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
85.4%
Gross profit / revenue
Operating Margin
24.9%
Operating income / revenue
Net Margin
31.4%
Net income / revenue
FCF Margin
28.4%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 4,860,427,000 | 895,522,000 | 974,000,000 |
| 2017-12-31 | 5,872,227,000 | 1,198,511,000 | 1,034,500,000 |
| 2018-12-31 | 6,710,800,000 | 2,444,400,000 | 1,812,000,000 |
| 2019-12-31 | 7,863,400,000 | 2,115,800,000 | 2,000,400,000 |
| 2020-12-31 | 8,497,100,000 | 3,513,200,000 | 2,003,500,000 |
| 2021-12-31 | 16,071,700,000 | 8,075,300,000 | 6,529,400,000 |
| 2022-12-31 | 12,172,900,000 | 4,338,400,000 | 4,424,800,000 |
| 2023-12-31 | 13,117,200,000 | 3,953,600,000 | 3,667,600,000 |
| 2024-12-31 | 14,202,000,000 | 4,412,600,000 | 3,664,600,000 |
| 2025-12-31 | 14,342,900,000 | 4,504,900,000 | 4,080,500,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 18.4 | Trailing four quarters |
| 2024-12-31 | 18.4 | Trailing four quarters |
| 2023-12-31 | 25.3 | Trailing four quarters |
| 2022-12-31 | 19 | Annual net income |
| 2021-12-31 | 8.9 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 93.83 | 27.38 | 18.42 | 20.04 |
| 2017-12-31 | 93.24 | 35.41 | 20.41 | 17.62 |
| 2018-12-31 | 93.53 | 37.77 | 36.42 | 27 |
| 2019-12-31 | 90.05 | 28.1 | 26.91 | 25.44 |
| 2020-12-31 | 84.04 | 42.09 | 41.35 | 23.58 |
| 2021-12-31 | 83.05 | 55.67 | 50.25 | 40.63 |
| 2022-12-31 | 85.99 | 44.24 | 35.64 | 36.35 |
| 2023-12-31 | 93.26 | 30.85 | 30.14 | 27.96 |
| 2024-12-31 | 86.13 | 28.1 | 31.07 | 25.8 |
| 2025-12-31 | 85.35 | 24.95 | 31.41 | 28.45 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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