Stock Analysis on Net
Stock Analysis on Net

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) 

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Regeneron Pharmaceuticals Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable 2.32 2.25 1.89 1.88 2.09 1.33 1.56 1.95 1.83 1.67 1.79 1.99 2.02 1.94 1.96 1.78 2.22 1.80 2.22 3.05
Accrued expenses and other current liabilities 7.09 7.41 6.44 5.97 6.69 6.77 6.54 6.96 7.13 8.22 7.10 6.90 7.10 6.49 7.11 7.77 8.68 8.71 9.39 8.40
Finance lease liabilities, current portion 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.83 3.04 3.34 4.04
Deferred revenue 1.36 1.36 1.26 1.65 1.66 1.68 1.62 1.50 1.39 1.30 1.24 1.42 1.64 1.98 2.08 1.86 1.74 2.15 2.42 2.62
Current liabilities 10.77% 11.02% 9.59% 9.50% 10.45% 9.78% 9.72% 10.42% 10.35% 11.19% 10.13% 10.31% 10.75% 10.40% 11.15% 11.41% 15.46% 15.69% 17.37% 18.11%
Long-term debt 4.90 4.94 5.19 5.29 5.26 5.30 5.50 5.77 5.99 6.16 6.47 6.59 6.78 7.16 7.28 7.52 7.78 8.36 9.21 11.13
Finance lease liabilities, excluding current portion 1.78 1.79 1.88 1.92 1.91 1.92 2.00 2.09 2.18 2.24 2.35 2.40 2.46 2.60 2.65 2.73 0.00 0.00 0.00 0.00
Deferred revenue 0.51 0.55 0.54 0.56 0.49 0.55 0.57 0.54 0.38 0.39 0.38 0.28 0.24 0.22 0.22 0.13 0.29 0.24 0.24 0.15
Other noncurrent liabilities 4.98 4.63 4.45 4.46 4.16 4.12 4.05 2.64 2.58 2.59 2.34 2.25 2.18 2.16 2.66 2.63 2.67 2.80 2.78 3.22
Noncurrent liabilities 12.16% 11.92% 12.07% 12.23% 11.82% 11.90% 12.12% 11.05% 11.14% 11.38% 11.53% 11.53% 11.67% 12.14% 12.81% 13.00% 10.75% 11.40% 12.22% 14.50%
Total liabilities 22.93% 22.93% 21.67% 21.73% 22.26% 21.68% 21.84% 21.47% 21.48% 22.57% 21.66% 21.84% 22.42% 22.54% 23.96% 24.42% 26.21% 27.09% 29.59% 32.61%
Preferred Stock, par value $.01 per share; shares issued and outstanding: none 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Class A Stock, convertible, par value $.001 per share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common Stock, par value $.001 per share 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 34.51 34.32 35.30 35.14 34.05 33.93 34.13 34.75 34.32 34.98 35.52 35.26 34.06 34.39 33.52 33.22 31.80 33.45 33.63 38.76
Retained earnings 88.26 87.25 88.12 86.25 83.88 82.14 81.51 81.42 82.41 81.15 81.85 80.25 79.78 79.88 76.43 75.68 74.58 70.71 70.31 67.57
Accumulated other comprehensive income (loss) 0.19 0.17 0.14 0.08 -0.02 0.16 -0.19 -0.22 -0.24 -0.55 -0.64 -0.60 -0.82 -0.99 -0.82 -0.65 -0.10 0.04 0.07 0.09
Treasury Stock, at cost -45.89 -44.67 -45.23 -43.20 -40.17 -37.91 -37.29 -37.41 -37.97 -38.15 -38.38 -36.74 -35.44 -35.82 -33.09 -32.68 -32.48 -31.30 -33.61 -39.02
Stockholders’ equity 77.07% 77.07% 78.33% 78.27% 77.74% 78.32% 78.16% 78.53% 78.52% 77.43% 78.34% 78.16% 77.58% 77.46% 76.04% 75.58% 73.79% 72.91% 70.41% 67.39%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 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).

The composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 31, 2021, to December 31, 2025. Overall, the proportion of stockholders’ equity to total liabilities and stockholders’ equity generally increased from 67.39% to 77.07% before slightly increasing to 77.07% again, while the proportion of total liabilities decreased over the same period.

Current Liabilities
Current liabilities, as a percentage of the total, decreased from 18.11% in March 2021 to 10.77% in September 2023, before increasing to 10.77% in December 2023. This decline suggests improved short-term liquidity management. Accounts payable and accrued expenses and other current liabilities were the primary components of current liabilities, both showing a decreasing trend over the period. A slight increase was observed in December 2024 and December 2025.
Long-Term Debt
Long-term debt decreased steadily as a percentage of the total, moving from 11.13% in March 2021 to 4.90% in September 2025. This indicates a reduction in reliance on long-term borrowing. Finance lease liabilities, excluding the current portion, also contributed to noncurrent liabilities and followed a similar decreasing trend.
Stockholders’ Equity
Stockholders’ equity demonstrated a consistent upward trend as a percentage of the total, rising from 67.39% in March 2021 to 78.33% in June 2025, before decreasing to 77.07% in December 2025. This increase was largely driven by growth in retained earnings, which increased from 67.57% to 88.26% over the period. Treasury stock, however, consistently represented a significant negative percentage, offsetting some of the gains from retained earnings, and becoming more negative over time.
Other Liabilities
Other noncurrent liabilities showed an increasing trend, rising from 3.22% in March 2021 to 4.98% in December 2025. Deferred revenue exhibited a more volatile pattern, with fluctuations throughout the period, but generally remained relatively stable as a percentage of the total. The deferred revenue component categorized as noncurrent also showed a slight increase over the period.

In summary, the company demonstrated a strengthening financial position with a decreasing reliance on debt and a growing equity base. The management of current liabilities appeared effective, and the increase in retained earnings suggests profitability. The increasing negative balance of treasury stock warrants further investigation, but did not prevent overall equity growth.

AI Ask an analyst for more