Selected Financial Data
since 2005
Income Statement
Regeneron Pharmaceuticals Inc., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Revenues | Income (loss) from operations | Net income (loss) |
|---|---|---|---|
| Dec 31, 2024 | 14,202,000) | 3,990,700) | 4,412,600) |
| Dec 31, 2023 | 13,117,200) | 4,047,100) | 3,953,600) |
| Dec 31, 2022 | 12,172,900) | 4,738,900) | 4,338,400) |
| Dec 31, 2021 | 16,071,700) | 8,946,800) | 8,075,300) |
| Dec 31, 2020 | 8,497,100) | 3,576,600) | 3,513,200) |
| Dec 31, 2019 | 7,863,400) | 2,209,800) | 2,115,800) |
| Dec 31, 2018 | 6,710,800) | 2,534,400) | 2,444,400) |
| Dec 31, 2017 | 5,872,227) | 2,079,591) | 1,198,511) |
| Dec 31, 2016 | 4,860,427) | 1,330,741) | 895,522) |
| Dec 31, 2015 | 4,103,728) | 1,251,916) | 636,056) |
| Dec 31, 2014 | 2,819,557) | 838,431) | 348,074) |
| Dec 31, 2013 | 2,104,745) | 760,028) | 424,362) |
| Dec 31, 2012 | 1,378,477) | 457,713) | 750,269) |
| Dec 31, 2011 | 445,824) | (205,159) | (221,760) |
| Dec 31, 2010 | 459,074) | (97,472) | (104,468) |
| Dec 31, 2009 | 379,268) | (74,103) | (67,830) |
| Dec 31, 2008 | 238,457) | (89,830) | (82,710) |
| Dec 31, 2007 | 125,024) | (114,454) | (105,600) |
| Dec 31, 2006 | 63,447) | (107,655) | (102,337) |
| Dec 31, 2005 | 66,193) | (124,421) | (95,446) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The annual financial data reveals several notable trends and developments over the analyzed periods.
- Revenues
- Revenues exhibited an overall strong upward trend from 2005 through 2024. Starting at approximately 66,193 thousand USD in 2005, revenues saw fluctuations in the early years, with a significant jump between 2011 and 2012, where the figure increased from about 445,824 to 1,378,477 thousand USD. Following this surge, revenue growth continued robustly, reaching a peak of approximately 16,071,700 thousand USD in 2021. After 2021, revenues declined in 2022 to about 12,172,900 thousand USD but then gradually rose again in subsequent years, ending at approximately 14,202,000 thousand USD in 2024. This general expansion indicates successful scaling of business operations, albeit with some volatility post-2021.
- Income (loss) from operations
- The operational income figures demonstrate a dramatic improvement over the entire period. Initially, the company recorded operational losses, with values such as -124,421 thousand USD in 2005 and worsening losses in subsequent years, including an especially severe loss of -205,159 thousand USD in 2011. Beginning in 2012, operational income shifted to positive territory, starting at about 457,713 thousand USD and rising significantly, peaking at approximately 8,946,800 thousand USD in 2021. After that peak, operational income decreased substantially to roughly 4,738,900 thousand USD in 2022, with some further decline in the following years but stabilizing around 3,990,700 thousand USD by 2024. This transition from consistent losses to large positive operating income reflects improved efficiency, higher profitability, and successful operational leverage over time.
- Net income (loss)
- The net income trend closely mirrors that of operational income, displaying a turn from losses to profitability over the periods. Early years were marked by net losses, including a significant deficit of -221,760 thousand USD in 2011. A considerable turnaround is observed starting in 2012, with net income leaping to 750,269 thousand USD that year, followed by peaks and fluctuations over the following years. The highest net income recorded was around 8,075,300 thousand USD in 2021, after which it dropped to 4,338,400 thousand USD in 2022 and then slightly decreased again to 3,953,600 thousand USD in 2023. By 2024, net income recovered slightly to approximately 4,412,600 thousand USD. The net income figures reveal a period of strong profitability after 2011, with some volatility in recent years mirroring operational income patterns.
Overall, the financial data indicates a company that transitioned from initial losses to sustained growth and profitability, particularly from 2012 onward. The impressive revenue increases are accompanied by improved operational efficiency and robust net income generation. Recent years show some revenue and profitability fluctuations, suggesting a potential period of market or operational adjustments after a peak in 2021.
Balance Sheet: Assets
Regeneron Pharmaceuticals Inc., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Dec 31, 2024 | 18,660,900) | 37,759,400) |
| Dec 31, 2023 | 19,479,200) | 33,080,200) |
| Dec 31, 2022 | 15,884,100) | 29,214,500) |
| Dec 31, 2021 | 14,014,900) | 25,434,800) |
| Dec 31, 2020 | 9,779,100) | 17,163,300) |
| Dec 31, 2019 | 7,689,100) | 14,805,200) |
| Dec 31, 2018 | 6,447,600) | 11,734,500) |
| Dec 31, 2017 | 4,335,030) | 8,764,286) |
| Dec 31, 2016 | 3,180,188) | 6,973,466) |
| Dec 31, 2015 | 2,915,095) | 5,609,132) |
| Dec 31, 2014 | 2,167,461) | 3,871,827) |
| Dec 31, 2013 | 1,796,934) | 2,951,013) |
| Dec 31, 2012 | 1,206,012) | 2,080,490) |
| Dec 31, 2011 | 652,875) | 1,323,583) |
| Dec 31, 2010 | 357,622) | 1,089,432) |
| Dec 31, 2009 | 425,508) | 741,202) |
| Dec 31, 2008 | 521,442) | 670,038) |
| Dec 31, 2007 | 797,829) | 936,258) |
| Dec 31, 2006 | 469,984) | 585,090) |
| Dec 31, 2005 | 341,392) | 423,501) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
- Current Assets
- Current assets exhibited considerable growth over the analyzed period. Starting at approximately 341 million US dollars in 2005, current assets nearly doubled by 2006 and continued an upward trajectory with some fluctuations. Notable growth occurred between 2011 and 2014, where values increased from about 653 million to over 2.16 billion US dollars. The trend maintained its strength, reaching over 14 billion by 2021 and peaking around 19.5 billion in 2023 before a slight decline to 18.7 billion in 2024. This overall increase suggests enhanced liquidity and potentially greater short-term financial stability over time.
- Total Assets
- Total assets also demonstrated a strong growth pattern, increasing from approximately 423 million US dollars in 2005 to nearly 585 million in 2006, then rising steadily with some variability. From 2010 onwards, the growth accelerated substantially, with assets exceeding 5.6 billion by 2014 and surpassing 25 billion by 2021. The upward trend persisted, with total assets reaching roughly 33 billion in 2023 and further rising to approximately 37.8 billion in 2024. This trajectory indicates significant expansion in the company's asset base, reflecting potentially successful investments and capital accumulation.
- Comparative Analysis
- Both current assets and total assets followed an upward trend throughout the observed years, with total assets growing at a higher absolute scale, as expected. The current assets to total assets ratio suggests that a meaningful but not predominant portion of total assets is held in liquid or near-liquid form. The data reveals periods of accelerated asset accumulation, particularly in the early 2010s and post-2015, corresponding with possible strategic growth phases or capital inflows.
- Insights
- The consistent increase in both current and total assets indicates a positive growth and expansion pattern. The substantial growth in current assets reflects improved capacity to cover short-term obligations, while the marked rise in total assets suggests effective utilization of resources and possibly an expansion in operational scale. The slight dip in current assets in the final year may warrant attention but does not overshadow the overall positive asset growth trend.
Balance Sheet: Liabilities and Stockholders’ Equity
Regeneron Pharmaceuticals Inc., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Total debt | Stockholders’ equity | |
|---|---|---|---|---|
| Dec 31, 2024 | 3,944,300) | 8,405,800) | 2,704,400) | 29,353,600) |
| Dec 31, 2023 | 3,423,400) | 7,107,100) | 2,702,900) | 25,973,100) |
| Dec 31, 2022 | 3,141,300) | 6,550,500) | 2,701,400) | 22,664,000) |
| Dec 31, 2021 | 3,932,500) | 6,666,000) | 2,699,700) | 18,768,800) |
| Dec 31, 2020 | 2,697,400) | 6,138,000) | 2,695,700) | 11,025,300) |
| Dec 31, 2019 | 2,096,600) | 3,715,500) | 713,900) | 11,089,700) |
| Dec 31, 2018 | 1,442,800) | 2,977,200) | 708,500) | 8,757,300) |
| Dec 31, 2017 | 1,135,483) | 2,620,208) | 703,453) | 6,144,078) |
| Dec 31, 2016 | 1,241,495) | 2,524,221) | 481,126) | 4,449,245) |
| Dec 31, 2015 | 811,162) | 1,954,295) | 375,510) | 3,654,837) |
| Dec 31, 2014 | 654,660) | 1,329,502) | 459,064) | 2,542,325) |
| Dec 31, 2013 | 298,835) | 998,937) | 505,638) | 1,952,076) |
| Dec 31, 2012 | 163,550) | 835,105) | 458,637) | 1,245,385) |
| Dec 31, 2011 | 148,271) | 837,851) | 438,039) | 485,732) |
| Dec 31, 2010 | 109,056) | 561,617) | 162,859) | 527,815) |
| Dec 31, 2009 | 93,575) | 344,440) | 109,022) | 396,762) |
| Dec 31, 2008 | 83,672) | 251,186) | —) | 418,852) |
| Dec 31, 2007 | 283,664) | 475,991) | 200,000) | 460,267) |
| Dec 31, 2006 | 45,014) | 368,466) | 200,000) | 216,624) |
| Dec 31, 2005 | 40,357) | 309,499) | 200,000) | 114,002) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The analysis of the financial data reveals several notable trends in the company's liabilities, debt, and equity over the period examined.
- Current Liabilities
- Current liabilities show a general upward trend with some fluctuations. Starting at approximately 40.4 million USD in 2005, they experienced substantial increases reaching over 3.9 billion USD by 2024. Key inflection points are observed around 2014 and 2020, where current liabilities surged significantly, indicating possible increases in short-term obligations or operational scaling.
- Total Liabilities
- Total liabilities exhibit continuous growth from about 309 million USD in 2005 to roughly 8.4 billion USD in 2024. The liabilities grew notably after 2010, with accelerated increases post-2015, implying either expanded financing activities or increased operational commitments. The data suggests the company consistently increased its leverage over time while managing a rising overall liability base.
- Total Debt
- Total debt figures rose from 200 million USD in 2005 to approximately 2.7 billion USD by 2024. Notably, debt levels were stable at 200 million USD through 2007 but then experienced increases starting in 2009, peaking significantly after 2016. Despite fluctuations, debt appears to represent a substantial portion of total liabilities, particularly post-2015, which may indicate increased reliance on debt financing during this period.
- Stockholders’ Equity
- Stockholders’ equity shows strong growth, improving from 114 million USD in 2005 to nearly 29.4 billion USD in 2024. The equity expansion is marked by rapid increases especially from 2012 onward, suggesting successful capital generation through retained earnings or capital infusions. The consistent growth in equity indicates a strengthening financial position and increasing value for shareholders over time.
In summary, the company exhibits significant expansion in all key financial categories. The liabilities and debt increased substantially, reflecting greater financial commitments and possibly more aggressive funding strategies. Concurrently, the strong growth in equity points toward robust financial health and shareholder value creation. The interplay between rising liabilities, debt, and equity highlights an evolving capital structure that supports the company’s growth trajectory.
Cash Flow Statement
Regeneron Pharmaceuticals Inc., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by (used in) operating activities | Net cash (used in) provided by investing activities | Net cash provided by (used in) financing activities |
|---|---|---|---|
| Dec 31, 2024 | 4,420,500) | (2,468,100) | (2,200,500) |
| Dec 31, 2023 | 4,594,000) | (3,185,100) | (1,790,100) |
| Dec 31, 2022 | 5,014,900) | (3,784,600) | (1,009,000) |
| Dec 31, 2021 | 7,081,300) | (5,384,700) | (1,005,800) |
| Dec 31, 2020 | 2,618,100) | (70,600) | (1,970,500) |
| Dec 31, 2019 | 2,430,000) | (2,027,800) | (252,100) |
| Dec 31, 2018 | 2,195,100) | (1,463,000) | (77,100) |
| Dec 31, 2017 | 1,307,112) | (1,005,182) | (24,400) |
| Dec 31, 2016 | 1,473,396) | (1,046,904) | (700,391) |
| Dec 31, 2015 | 1,330,780) | (907,601) | (262,796) |
| Dec 31, 2014 | 743,157) | (420,777) | (209,269) |
| Dec 31, 2013 | 583,648) | (355,455) | 77,139) |
| Dec 31, 2012 | (74,615) | (81,073) | (97,646) |
| Dec 31, 2011 | (141,682) | 128,471) | 384,249) |
| Dec 31, 2010 | 99,222) | (437,031) | 243,306) |
| Dec 31, 2009 | (72,230) | 146) | 31,363) |
| Dec 31, 2008 | (89,086) | 30,815) | (192,858) |
| Dec 31, 2007 | 27,372) | (85,723) | 319,400) |
| Dec 31, 2006 | 23,075) | (155,105) | 185,398) |
| Dec 31, 2005 | (30,296) | 115,494) | 4,081) |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
The operating activities cash flow for the company shows a highly variable pattern over the observed period. Initially, there is a negative cash flow in 2005, followed by positive inflows in the subsequent two years. This is interrupted by significant negative cash flows in 2008 and 2009. From 2010 onwards, the figures generally improve with some fluctuations, notably a large positive peak in 2013 and continuing strong cash inflows through to 2021, reaching the highest point in 2021. The last three years show a decline in operating cash flows but still remain positive.
Investing activities cash flow exhibits a predominantly negative trend, often indicating significant cash outflows. After an initial positive figure in 2005, this category sees a sharp reversal to substantial negative values, particularly from 2010 onward. The largest outflows are observed around 2015 to 2018, with slight reductions in outflows in the last two reported years, though the cash used in investing activities remains at considerable levels.
Financing activities cash flow demonstrates considerable volatility. There are notable positive inflows in the early years, particularly in 2006, 2007, and 2011, which likely correspond to capital raises or debt borrowings. However, from 2012 onwards, the cash flows from financing activities trend mostly negative, with large cash outflows especially pronounced from 2015 through 2024. This shift suggests increased repayments, dividend payments, or stock buybacks.
- Summary of Cash Flow Trends
-
Operating cash flows show recovery and growth despite fluctuations, with strong positive cash generation after 2012, peaking in 2021.
Investing cash flows consistently reflect heavy investments or acquisitions, causing sustained negative cash flow in this area throughout the period.
Financing cash flows shift from early positive inflows, likely from financing activities such as issuing stock or debt, to mostly negative outflows in recent years, indicating repayment of liabilities or returns to shareholders.
The overall cash flow pattern suggests a lifecycle where initial financing supports operations and investments, followed by a maturation phase where the company generates strong operating cash but uses financing primarily for deleveraging or shareholder returns.
Per Share Data
Regeneron Pharmaceuticals Inc., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Dec 31, 2024 | 40.90 | 38.34 | 0.00 |
| Dec 31, 2023 | 37.05 | 34.77 | 0.00 |
| Dec 31, 2022 | 40.51 | 38.22 | 0.00 |
| Dec 31, 2021 | 76.40 | 71.97 | 0.00 |
| Dec 31, 2020 | 32.65 | 30.52 | 0.00 |
| Dec 31, 2019 | 19.38 | 18.46 | 0.00 |
| Dec 31, 2018 | 22.65 | 21.29 | 0.00 |
| Dec 31, 2017 | 11.27 | 10.34 | 0.00 |
| Dec 31, 2016 | 8.55 | 7.70 | 0.00 |
| Dec 31, 2015 | 6.17 | 5.52 | 0.00 |
| Dec 31, 2014 | 3.46 | 3.07 | 0.00 |
| Dec 31, 2013 | 4.33 | 3.81 | 0.00 |
| Dec 31, 2012 | 7.92 | 6.75 | 0.00 |
| Dec 31, 2011 | -2.45 | -2.45 | 0.00 |
| Dec 31, 2010 | -1.26 | -1.26 | 0.00 |
| Dec 31, 2009 | -0.85 | -0.85 | 0.00 |
| Dec 31, 2008 | -1.05 | -1.05 | 0.00 |
| Dec 31, 2007 | -1.59 | -1.59 | 0.00 |
| Dec 31, 2006 | -1.77 | -1.77 | 0.00 |
| Dec 31, 2005 | -1.71 | -1.71 | 0.00 |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1, 2, 3 Data adjusted for splits and stock dividends.
- Basic earnings per share (EPS)
- The basic EPS displays a notable evolution from persistent negative values in the early years through 2011, with losses widening at times, particularly in 2011 where it reached -2.45 USD. Beginning in 2012, the company transitions to positive earnings per share, showing a significant increase in profitability. The EPS rises to 7.92 USD in 2012 and continues a generally upward trend with some volatility. A peak occurs in 2021 at 76.4 USD, followed by a decline in 2022 to 40.51 USD and a stabilization around 37-41 USD in the subsequent two years. This pattern suggests a strong recovery and growth phase starting in 2012, with exceptional profitability achieved by 2021, before experiencing some reduction but maintaining solid earnings.
- Diluted earnings per share (EPS)
- The diluted EPS mirrors the pattern observed in the basic EPS with negative values until 2011 and a shift to positive numbers from 2012 onward. The values are slightly lower than basic EPS each year, reflecting the potential dilution effect. The peak diluted EPS also occurs in 2021 at 71.97 USD, closely following the basic EPS trend, and similarly decreases in the following years to approximately 34.77 USD in 2023 and then shows a moderate increase to 38.34 USD in 2024. The consistent alignment of diluted EPS trends with the basic EPS confirms the robustness of earnings growth with minor dilution impacts.
- Dividend per share
- There are no recorded dividends per share throughout the entire period, indicating that the company did not distribute earnings to shareholders in the form of dividends during these years.