Regeneron Pharmaceuticals, Inc.REGN
NasdaqGS•Healthcare•Biotechnology
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 the 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. Additionally, the company has a strategic collaboration with Telix Pharmaceuticals Limited to develop and commercialize radiopharmaceutical therapies. The company was incorporated in 1988 and is based in Tarrytown, New York.
Regeneron Pharmaceuticals, Inc. (REGN) reported trailing twelve months revenue of $14.92B as of March 2026, a 5.9% increase year-over-year. Quarterly revenue reached $3.61B, reflecting continued top-line momentum.
Regeneron Pharmaceuticals, Inc. generated $4.42B in TTM net income, with quarterly EBITDA of $766.10M. The operating margin contracted from 19.5% to 17.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (17.8%) and net margin (20.2%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 26.7% a year ago, reflecting increased costs or interest expense.
REGN trades at a P/E of 17.6x (in line with broad market averages) and a P/S of 5.2x. The price-to-book ratio of 2.5x reflects a moderate premium to book value.
The company generated $848.30M in free cash flow over the trailing twelve months, a 4.0% increase year-over-year, indicating cash generation ability. The balance sheet shows $40.87B in total assets with $1.99B in long-term debt against $31.42B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~25.6% on average, but show some variability — pricing power may be sensitive to market conditions.
ROE is positive at ~15.0% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~10.6% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 9.6% — watch for continued compression, which may signal competitive or cost pressure.
FCF covers net income by 0.9x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 3.8% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation