Common-Size Balance Sheet: Assets
Quarterly Data
Regeneron Pharmaceuticals Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- Throughout the observed periods, the proportion of cash and cash equivalents relative to total assets displayed a generally declining trend, starting at 14.01% in March 2020 and decreasing to 5.22% by June 2025. There were minor fluctuations, with noticeable dips around June 2023 and June 2024, indicating reduced liquidity held as cash.
- Marketable Securities (first series)
- The allocation towards marketable securities exhibited considerable variability over time. Initially fluctuating between approximately 7.98% and 16.78%, there was a marked increase starting in mid-2023 reaching a peak near 24.53% in December 2023, before a gradual decline towards 14.32% by June 2025. This suggests intermittent shifts in short-to-medium term investments within the asset base.
- Accounts Receivable, Net
- The percentage held in accounts receivable showed volatility, rising sharply to over 32% in June 2021, indicative of increased credit sales or longer collection periods during that quarter. Afterward, it decreased steadily, stabilizing between 14.68% and 16.45% in the later periods, reflecting improved receivables management or changes in sales patterns.
- Inventories
- Inventories remained relatively stable as a portion of total assets, fluctuating slightly between 7.56% and 12.18%, with no significant long-term upward or downward trend. The slight decline post-2021 suggests a modest reduction in inventory levels relative to total assets, potentially reflecting inventory optimization efforts.
- Prepaid Expenses and Other Current Assets
- This category exhibited modest variability, generally ranging between approximately 0.92% and 2.15%. The fluctuations were minor and showed no clear trend, indicating stable management of prepaid and other current assets relative to the asset base.
- Current Assets (aggregate)
- The proportion of current assets in total assets peaked near 62.08% in June 2021 but demonstrated a declining trend thereafter, falling to 44.11% by June 2025. This suggests a strategic shift towards a smaller share of short-term assets, possibly reallocating resources to long-term investments or other asset classes.
- Marketable Securities (second series)
- A second series labeled as marketable securities revealed a steady presence, once again highlighting investment in liquid securities. Beginning near 20.54% in March 2020, the share experienced some decline and recovery phases but generally increased towards the later periods, reaching 26.32% by June 2025. This reinforces the observation of active management and gradual increase in marketable securities as a component of total assets.
- Property, Plant, and Equipment, Net
- The relative share of property, plant, and equipment demonstrated a gradual decline from 18.69% in early 2020 to levels around 12.67% by mid-2025. This decrease indicates either asset depreciation exceeding new capital expenditures or a strategic reduction in fixed asset intensity.
- Intangible Assets, Net
- Intangible assets data were available only from late 2022 onward, showing a stable range between 2.99% and 3.54% of total assets. The slight upward movement towards June 2025 might suggest some investments or capitalizations in intangible assets during this later period.
- Deferred Tax Assets
- Deferred tax assets increased steadily as a share of total assets, rising from approximately 4.89% in early 2020 to over 9.35% by June 2025. This consistent growth suggests recognition of increasing future tax benefits, possibly due to timing differences or cumulative losses applied for tax purposes.
- Other Noncurrent Assets
- Other noncurrent assets remained a minor but growing component of total assets, rising from about 1.02% in March 2020 to above 4% by mid-2025. The growth trend may indicate accumulation of longer-term investments or other miscellaneous asset classes.
- Noncurrent Assets (aggregate)
- The overall proportion of noncurrent assets showed an increasing trend after mid-2021, improving from below 38% early in 2021 to nearly 56% by June 2025. This reflects a strategic shift towards longer-term asset holdings and investments, balancing the reduction in current asset proportion noted earlier.