Income Statement Regeneron Pharmaceuticals, Inc.

Equities

REGN

US75886F1075

Biotechnology & Medical Research

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c0f396a4cd72963.jnjfRJz4kQbqIYurZwzjjB5ninH1bdlDcN2tY0sTsfE.ygHnD6iC5E-EDNrjKUum4SYP4BLGPOglMYydNipd1rzaIOsb87zgVo9y6A

Published financial data: REGENERON PHARMACEUTICALS, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	7.94B	15.79B	11.81B	12.58B	13.69B
Other Revenues, Total	370M	281M	365M	536M	515M
Total Revenues	8.31B	16.07B	12.17B	13.12B	14.2B
Cost of Goods Sold, Total	3.85B	5.35B	5.15B	6.25B	7.1B
Gross Profit	4.46B	10.73B	7.02B	6.86B	7.1B
Selling General & Admin Expenses, Total	1.44B	1.82B	2.12B	2.63B	2.95B
Other Operating Expenses	-280M	-45.6M	-89.9M	-2.1M	-
Other Operating Expenses, Total	1.16B	1.78B	2.03B	2.63B	2.95B
Operating Income	3.29B	8.95B	4.99B	4.23B	4.15B
Interest Expense, Total	-56.9M	-57.3M	-59.4M	-73M	-55.2M
Interest And Investment Income	-	-	160M	496M	711M
Net Interest Expenses	-56.9M	-57.3M	101M	423M	656M
Currency Exchange Gains (Loss)	-	-	-	-12.9M	-500K
Other Non Operating Income (Expenses)	65.7M	50.2M	59M	-20M	15.8M
EBT, Excl. Unusual Items	3.3B	8.94B	5.15B	4.62B	4.82B
Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	225M	386M	-39.8M	-238M	118M
In Process R&D Expenses	-	-	-255M	-186M	-101M
Legal Settlements	95M	-	-	-	-
Other Unusual Items	187M	-	-	-	-53.4M
EBT, Incl. Unusual Items	3.81B	9.33B	4.86B	4.2B	4.78B
Income Tax Expense	297M	1.25B	520M	246M	367M
Earnings From Continuing Operations	3.51B	8.08B	4.34B	3.95B	4.41B
Net Income to Company	3.51B	8.08B	4.34B	3.95B	4.41B
Net Income - (IS)	3.51B	8.08B	4.34B	3.95B	4.41B
Net Income to Common Incl Extra Items	3.51B	8.08B	4.34B	3.95B	4.41B
Net Income to Common Excl. Extra Items	3.51B	8.08B	4.34B	3.95B	4.41B
Per Share Items
Net EPS - Basic	32.65	76.4	40.51	37.05	40.9
Basic EPS - Continuing Operations	32.65	76.4	40.51	37.05	40.9
Basic Weighted Average Shares Outstanding	108M	106M	107M	107M	108M
Net EPS - Diluted	30.52	71.97	38.22	34.77	38.34
Diluted EPS - Continuing Operations	30.52	71.97	38.22	34.77	38.34
Diluted Weighted Average Shares Outstanding	115M	112M	114M	114M	115M
Normalized Basic EPS	19.19	52.86	30.08	27.08	27.9
Normalized Diluted EPS	17.94	49.8	28.38	25.41	26.15
American Depositary Receipts Ratio (ADR)	0.02	0.02	0.02	0.02	0.02
Supplemental Items
EBITDA	3.53B	9.23B	5.34B	4.65B	4.63B
EBITA	3.29B	8.95B	5.03B	4.33B	4.27B
EBIT	3.29B	8.95B	4.99B	4.23B	4.15B
EBITDAR	-	-	-	4.67B	4.66B
Total Revenues (As Reported)	8.5B	16.07B	12.17B	13.12B	14.2B
Effective Tax Rate - (Ratio)	7.8	13.41	10.71	5.85	7.68
Current Domestic Taxes	200M	1.44B	976M	676M	1.08B
Current Foreign Taxes	21.4M	-38.4M	291M	408M	43.1M
Total Current Taxes	222M	1.4B	1.27B	1.08B	1.12B
Deferred Domestic Taxes	107M	-424M	-800M	-841M	-940M
Deferred Foreign Taxes	-31.4M	277M	54M	3.2M	183M
Total Deferred Taxes	75.6M	-147M	-746M	-838M	-757M
Normalized Net Income	2.06B	5.59B	3.22B	2.89B	3.01B
Interest on Long-Term Debt	33.3M	56.3M	65.9M	89.4M	90.5M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	3.37B	3.4B	4.12B	4.8B	5.42B
Net Rental Expense, Total	-	-	-	19.2M	36.5M
Imputed Operating Lease Interest Expense	-	-	-	4.03M	5.63M
Imputed Operating Lease Depreciation	-	-	-	15.17M	30.87M
Stock-Based Comp., COGS (Total)	239M	317M	407M	489M	544M
Stock-Based Comp., SG&A Exp. (Total)	153M	213M	256M	307M	355M
Stock-Based Comp., Other (Total)	40.4M	71.8M	61.8M	89.2M	84M
Total Stock-Based Compensation	432M	602M	725M	885M	983M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.19B	2.89B	3.11B	2.73B	2.49B
Short Term Investments	1.39B	2.81B	4.64B	8.11B	6.52B
Total Cash And Short Term Investments	3.59B	5.69B	7.74B	10.84B	9.01B
Accounts Receivable, Total	3.88B	5.06B	3.59B	5.32B	5.84B
Other Receivables	235M	978M	1.74B	350M	368M
Total Receivables	4.11B	6.04B	5.33B	5.67B	6.21B
Inventory	1.92B	1.95B	2.4B	2.58B	3.09B
Prepaid Expenses	161M	332M	411M	387M	348M
Restricted Cash	-	-	-	-	800K
Total Current Assets	9.78B	14.01B	15.88B	19.48B	18.66B
Gross Property Plant And Equipment	4.35B	4.88B	5.43B	6.25B	7.18B
Accumulated Depreciation	-1.13B	-1.4B	-1.67B	-2.02B	-2.37B
Net Property Plant And Equipment	3.22B	3.48B	3.76B	4.22B	4.82B
Long-term Investments	3.19B	6.88B	6.64B	5.47B	9.06B
Other Intangibles, Total	-	-	916M	1.04B	1.15B
Deferred Tax Assets Long-Term	859M	877M	1.72B	2.58B	3.31B
Other Long-Term Assets, Total	109M	183M	288M	292M	759M
Total Assets	17.16B	25.43B	29.21B	33.08B	37.76B
Liabilities
Accounts Payable, Total	476M	564M	589M	607M	790M
Accrued Expenses, Total	1.49B	1.59B	2.06B	2.32B	2.5B
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	12.1M	720M	-	19M	30.3M
Current Income Taxes Payable	19.5M	326M	300K	-	-
Unearned Revenue Current, Total	578M	442M	478M	482M	628M
Other Current Liabilities	122M	287M	10.5M	-	-
Total Current Liabilities	2.7B	3.93B	3.14B	3.42B	3.94B
Long-Term Debt	1.98B	1.98B	1.98B	1.98B	1.98B
Long-Term Leases	717M	-	720M	789M	924M
Unearned Revenue Non Current	57.8M	73.3M	69.8M	127M	186M
Other Non Current Liabilities	687M	680M	638M	785M	1.37B
Total Liabilities	6.14B	6.67B	6.55B	7.11B	8.41B
Common Stock, Total	100K	100K	100K	100K	100K
Additional Paid In Capital	6.72B	8.09B	9.95B	11.35B	12.86B
Retained Earnings	10.89B	18.97B	23.31B	27.26B	31.67B
Treasury Stock	-6.61B	-8.26B	-10.35B	-12.56B	-15.17B
Comprehensive Income and Other	29.3M	-26.2M	-239M	-80.9M	-7.9M
Total Common Equity	11.03B	18.77B	22.66B	25.97B	29.35B
Total Equity	11.03B	18.77B	22.66B	25.97B	29.35B
Total Liabilities And Equity	17.16B	25.43B	29.21B	33.08B	37.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	104M	106M	107M	107M	107M
ECS Total Common Shares Outstanding	104M	107M	107M	107M	107M
Book Value / Share	106.05	176.11	211.81	242.47	273.57
Tangible Book Value	11.03B	18.77B	21.75B	24.93B	28.2B
Tangible Book Value Per Share	106.05	176.11	203.26	232.78	262.86
Total Debt	2.71B	2.7B	2.7B	2.79B	2.94B
Net Debt	-4.01B	-9.83B	-11.63B	-13.45B	-14.97B
Debt Equivalent Oper. Leases	-	-	-	154M	292M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	459M	722M	818M	789M	880M
Inventories - Work In Process, Total	905M	707M	963M	1.12B	1.34B
Inventories - Finished Goods, Total	122M	73.7M	98.6M	147M	140M
Inventories - Others	431M	448M	522M	522M	726M
Land - (BS)	241M	248M	264M	283M	288M
Buildings, Total	1.89B	2.09B	2.27B	2.42B	2.57B
Machinery, Total	1.4B	1.66B	1.8B	1.94B	2.15B
Full Time Employees	9.12K	10.37K	11.85K	13.45K	15.11K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	3.51B	8.08B	4.34B	3.95B	4.41B
Depreciation & Amortization - CF	236M	286M	304M	329M	354M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	37.6M	92.2M	129M
Depreciation & Amortization, Total	236M	286M	341M	421M	483M
(Gain) Loss on Sale of Investments - (CF)	-	-387M	36.8M	266M	-118M
Asset Writedown & Restructuring Costs	-	-	195M	-	12.6M
Stock-Based Compensation (CF)	432M	602M	725M	885M	983M
Other Operating Activities, Total	-59.4M	422M	-378M	-838M	-734M
Change In Accounts Receivable	-1.36B	-1.93B	708M	-339M	-554M
Change In Inventories	-529M	-494M	-696M	-272M	-620M
Change In Accounts Payable	119M	866M	-138M	599M	735M
Change in Unearned Revenues	148M	-120M	32.4M	37.9M	228M
Change in Other Net Operating Assets	115M	-241M	-149M	-120M	-408M
Cash from Operations	2.62B	7.08B	5.01B	4.59B	4.42B
Capital Expenditure	-615M	-552M	-590M	-719M	-756M
Sale of Property, Plant, and Equipment	-	-	-	-	20.1M
Cash Acquisitions	-	-	-230M	-54.9M	-16.5M
Sale (Purchase) of Intangible assets	-	-	-1.03B	-208M	-126M
Investment in Marketable and Equity Securities, Total	544M	-4.83B	-1.94B	-2.2B	-1.59B
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-70.6M	-5.38B	-3.78B	-3.19B	-2.47B
Short Term Debt Issued, Total	1.5B	-	-	-	-
Long-Term Debt Issued, Total	1.98B	-	-	-	-
Total Debt Issued	3.48B	-	-	-	-
Short Term Debt Repaid, Total	-1.5B	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-1.5B	-	-	-	-
Issuance of Common Stock	2.58B	1.67B	1.52B	1.15B	1.47B
Repurchase of Common Stock	-6.53B	-2.68B	-2.53B	-2.94B	-3.63B
Other Financing Activities, Total	-	-	-	-	-33.4M
Cash from Financing	-1.97B	-1.01B	-1.01B	-1.79B	-2.2B
Foreign Exchange Rate Adjustments	-	-	-	-400K	-700K
Net Change in Cash	577M	691M	221M	-382M	-249M
Supplemental Items
Cash Interest Paid	23.2M	55.8M	53.7M	73.1M	52.6M
Cash Income Tax Paid (Refund)	188M	1.22B	1.5B	870M	743M
Levered Free Cash Flow	948M	4.28B	2.64B	2.76B	2.64B
Unlevered Free Cash Flow	984M	4.32B	2.68B	2.81B	2.67B
Change In Net Working Capital	1.13B	1.61B	-107M	217M	504M
Net Debt Issued / Repaid	1.98B	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	12.88	26.25	11.42	8.49	7.31
Return on Total Capital	16.13	31.78	13.33	9.76	8.49
Return On Equity %	31.77	54.21	20.94	16.26	15.95
Return on Common Equity	31.77	54.21	20.94	16.26	15.95
Margin Analysis
Gross Profit Margin %	53.61	66.74	57.67	52.32	49.99
SG&A Margin	17.34	11.35	17.38	20.06	20.8
EBITDA Margin %	42.49	57.45	43.83	35.48	32.59
EBITA Margin %	39.65	55.67	41.33	32.98	30.09
EBIT Margin %	39.65	55.67	41.03	32.27	29.19
Income From Continuing Operations Margin %	42.27	50.25	35.64	30.14	31.07
Net Income Margin %	42.27	50.25	35.64	30.14	31.07
Net Avail. For Common Margin %	42.27	50.25	35.64	30.14	31.07
Normalized Net Income Margin	24.85	34.76	26.46	22.03	21.2
Levered Free Cash Flow Margin	11.41	26.63	21.69	21.06	18.56
Unlevered Free Cash Flow Margin	11.84	26.85	22	21.41	18.8
Asset Turnover
Asset Turnover	0.52	0.75	0.45	0.42	0.4
Fixed Assets Turnover	2.72	4.79	3.36	3.26	3.14
Receivables Turnover (Average Receivables)	2.42	3.87	2.73	2.43	2.46
Inventory Turnover (Average Inventory)	2.31	2.76	2.37	2.51	2.51
Short Term Liquidity
Current Ratio	3.63	3.56	5.06	5.69	4.73
Quick Ratio	2.86	2.98	4.16	4.82	3.86
Operating Cash Flow to Current Liabilities	0.97	1.8	1.6	1.34	1.12
Days Sales Outstanding (Average Receivables)	151.5	94.44	133.62	150	148.98
Days Outstanding Inventory (Average Inventory)	158.18	132.05	154.18	145.37	146.03
Average Days Payable Outstanding	37.54	35.26	37.56	33.92	33.58
Cash Conversion Cycle (Average Days)	272.14	191.23	250.23	261.45	261.44
Long Term Solvency
Total Debt/Equity	24.56	14.38	11.92	10.74	10.01
Total Debt / Total Capital	19.72	12.58	10.65	9.7	9.1
LT Debt/Equity	24.45	10.55	11.92	10.67	9.91
Long-Term Debt / Total Capital	19.63	9.22	10.65	9.64	9.01
Total Liabilities / Total Assets	35.76	26.21	22.42	21.48	22.26
EBIT / Interest Expense	57.91	156.14	84.07	57.99	75.09
EBITDA / Interest Expense	62.05	161.13	89.82	64.02	84.5
(EBITDA - Capex) / Interest Expense	51.25	151.5	79.89	54.18	70.81
Total Debt / EBITDA	0.77	0.29	0.51	0.6	0.63
Net Debt / EBITDA	-1.14	-1.06	-2.18	-2.88	-3.21
Total Debt / (EBITDA - Capex)	0.93	0.31	0.57	0.71	0.75
Net Debt / (EBITDA - Capex)	-1.38	-1.13	-2.45	-3.4	-3.83
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	26.73	89.14	-24.26	7.76	8.27
Gross Profit, 1 Yr. Growth %	33.3	131.06	-34.84	-2.25	3.46
EBITDA, 1 Yr. Growth %	43.8	142.18	-42.51	-12.77	-0.56
EBITA, 1 Yr. Growth %	46.77	150.15	-44.06	-14.04	-1.19
EBIT, 1 Yr. Growth %	46.77	150.15	-44.48	-15.23	-2.08
Earnings From Cont. Operations, 1 Yr. Growth %	66.05	129.86	-46.28	-8.87	11.61
Net Income, 1 Yr. Growth %	66.05	129.86	-46.28	-8.87	11.61
Normalized Net Income, 1 Yr. Growth %	40.82	149.34	-42.66	-10.29	4.18
Diluted EPS Before Extra, 1 Yr. Growth %	65.33	135.81	-46.89	-9.03	10.27
Accounts Receivable, 1 Yr. Growth %	44.06	62.56	-29.12	5.86	10.29
Inventory, 1 Yr. Growth %	35.4	1.81	23.09	7.44	19.64
Net Property, Plant and Equip., 1 Yr. Growth %	11.46	8.09	8.06	10.18	14.03
Total Assets, 1 Yr. Growth %	15.93	48.19	14.86	13.23	14.14
Tangible Book Value, 1 Yr. Growth %	-0.58	70.23	15.92	14.65	13.12
Common Equity, 1 Yr. Growth %	-0.58	70.23	20.75	14.6	13.02
Cash From Operations, 1 Yr. Growth %	7.74	170.47	-29.18	-8.39	-3.78
Capital Expenditures, 1 Yr. Growth %	43.06	-10.2	6.92	21.78	5.19
Levered Free Cash Flow, 1 Yr. Growth %	-34.41	276.49	-38.72	5.12	-4.59
Unlevered Free Cash Flow, 1 Yr. Growth %	-32.82	268.12	-38.37	5.37	-4.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	27.08	56.55	19.69	-9.66	8.01
Gross Profit, 2 Yr. CAGR %	16.92	79.14	21.82	-20.19	0.56
EBITDA, 2 Yr. CAGR %	14.73	95.32	16.96	-29.18	-6.86
EBITA, 2 Yr. CAGR %	14.02	101.21	17.18	-30.65	-7.84
EBIT, 2 Yr. CAGR %	14.02	101.21	16.74	-31.4	-8.89
Earnings From Cont. Operations, 2 Yr. CAGR %	19.89	95.36	11.13	-30.03	0.85
Net Income, 2 Yr. CAGR %	19.89	95.36	11.13	-30.03	0.85
Normalized Net Income, 2 Yr. CAGR %	12.82	96.69	17.98	-28.28	-3.33
Diluted EPS Before Extra, 2 Yr. CAGR %	19.73	97.45	11.91	-30.49	0.16
Accounts Receivable, 2 Yr. CAGR %	30.68	37.05	7.35	2.52	7.86
Inventory, 2 Yr. CAGR %	29.03	17.41	11.95	15	13.37
Net Property, Plant and Equip., 2 Yr. CAGR %	11.84	9.76	8.08	10.14	12.09
Total Assets, 2 Yr. CAGR %	20.94	31.07	30.47	14.04	13.69
Tangible Book Value, 2 Yr. CAGR %	12.2	30.09	40.45	15.28	13.88
Common Equity, 2 Yr. CAGR %	12.2	30.09	43.37	17.64	13.81
Cash From Operations, 2 Yr. CAGR %	9.21	70.71	38.4	-19.46	-6.11
Capital Expenditures, 2 Yr. CAGR %	26.66	13.34	-2.01	14.11	13.18
Levered Free Cash Flow, 2 Yr. CAGR %	-16.3	73.35	48.86	-19.93	0.15
Unlevered Free Cash Flow, 2 Yr. CAGR %	-15.3	72.94	47.71	-19.61	0.09
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.27	46.18	22.9	15.57	-4.04
Gross Profit, 3 Yr. CAGR %	9.43	48.74	28.06	13.2	-12.98
EBITDA, 3 Yr. CAGR %	16.64	50.98	30.15	6.07	-20.7
EBITA, 3 Yr. CAGR %	16.58	52.26	31.56	5.68	-21.97
EBIT, 3 Yr. CAGR %	16.58	52.26	31.23	4.93	-22.76
Earnings From Cont. Operations, 3 Yr. CAGR %	43.12	48.93	27.04	4.02	-18.25
Net Income, 3 Yr. CAGR %	43.12	48.93	27.04	4.02	-18.25
Normalized Net Income, 3 Yr. CAGR %	16.7	51.02	30.65	7.68	-18.77
Diluted EPS Before Extra, 3 Yr. CAGR %	43.45	50.08	27.45	4.44	-18.94
Accounts Receivable, 3 Yr. CAGR %	23.79	30.58	10.01	19.55	4.93
Inventory, 3 Yr. CAGR %	38.2	19.23	19.27	10.42	16.52
Net Property, Plant and Equip., 3 Yr. CAGR %	10.95	10.57	9.19	9.45	11.42
Total Assets, 3 Yr. CAGR %	25.11	29.42	25.43	24.45	14.08
Tangible Book Value, 3 Yr. CAGR %	21.52	28.93	25.17	31.26	14.56
Common Equity, 3 Yr. CAGR %	21.52	28.93	26.9	33.06	16.08
Cash From Operations, 3 Yr. CAGR %	26.05	47.76	27.32	20.62	-14.54
Capital Expenditures, 3 Yr. CAGR %	31.13	12.94	11.16	5.35	11.05
Levered Free Cash Flow, 3 Yr. CAGR %	1.62	46.75	22.86	32.35	-15.11
Unlevered Free Cash Flow, 3 Yr. CAGR %	2.29	46.53	22.89	31.78	-14.98
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	15.16	27.02	15.7	20.58	16.71
Gross Profit, 5 Yr. CAGR %	16.34	33.72	15.6	16.06	16.26
EBITDA, 5 Yr. CAGR %	21.62	45.1	19.11	11.65	13.84
EBITA, 5 Yr. CAGR %	21.35	46.39	19.33	11.28	14.1
EBIT, 5 Yr. CAGR %	21.35	46.39	19.15	10.8	13.41
Earnings From Cont. Operations, 5 Yr. CAGR %	40.75	55.25	29.34	10.09	15.84
Net Income, 5 Yr. CAGR %	40.75	55.25	29.34	10.09	15.84
Normalized Net Income, 5 Yr. CAGR %	21.57	46.17	19.92	12.24	15.82
Diluted EPS Before Extra, 5 Yr. CAGR %	40.78	56.35	29.88	10.31	15.74
Accounts Receivable, 5 Yr. CAGR %	21.46	25.71	11.88	18.54	16.76
Inventory, 5 Yr. CAGR %	51.7	37.34	27.03	17.52	16.88
Net Property, Plant and Equip., 5 Yr. CAGR %	15.11	10.82	9.79	10.4	10.76
Total Assets, 5 Yr. CAGR %	25.07	29.54	27.23	23.03	20.59
Tangible Book Value, 5 Yr. CAGR %	24.71	33.36	28.76	23.28	20.53
Common Equity, 5 Yr. CAGR %	24.71	33.36	29.83	24.29	21.49
Cash From Operations, 5 Yr. CAGR %	14.49	36.65	30.86	15.92	12.71
Capital Expenditures, 5 Yr. CAGR %	-1.94	1.52	16.7	13.41	11.96
Levered Free Cash Flow, 5 Yr. CAGR %	60.92	33.17	23.91	15.33	13.11
Unlevered Free Cash Flow, 5 Yr. CAGR %	59.01	33.28	23.83	15.41	13.1