Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Market Value Added (MVA)

Advanced level

Market value added (MVA) is the difference between a firms’s fair value and its invested capital. MVA is a measure of the value a company has created in excess of the resources already committed to the enterprise.

MVA

Regeneron Pharmaceuticals Inc., MVA calculation

US$ in thousands

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Fair value of debt1 713,900  708,500  703,453  481,126  375,510 
Operating lease liability 23,600  20,147  17,797  34,373  76,127 
Market value of common equity 42,013,264  44,416,806  34,745,141  38,189,072  38,482,398 
Preferred Stock, $.01 par value; issued and outstanding - none —  —  —  —  — 
Less: Marketable securities 4,853,300  3,097,200  2,083,341  1,367,741  868,283 
Market (fair) value of Regeneron 37,897,464  42,048,253  33,383,050  37,336,830  38,065,752 
Less: Invested capital2 6,727,300  6,178,047  4,815,536  3,528,047  3,006,006 
MVA 31,170,164  35,870,206  28,567,514  33,808,783  35,059,746 

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Regeneron Pharmaceuticals Inc.’s market (fair) value less invested capital. Regeneron Pharmaceuticals Inc.’s MVA increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.

MVA Spread Ratio

Regeneron Pharmaceuticals Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 31,170,164  35,870,206  28,567,514  33,808,783  35,059,746 
Invested capital2 6,727,300  6,178,047  4,815,536  3,528,047  3,006,006 
Performance Ratio
MVA spread ratio3 463.34% 580.61% 593.24% 958.29% 1,166.32%
Benchmarks
MVA Spread Ratio, Competitors4
Abbott Laboratories 203.80% 163.05% 105.68% 115.20% 103.19%
AbbVie Inc. 236.34% 363.57% 399.31% 176.28% 173.21%
Amgen Inc. 341.92% 418.34% 430.42% 289.63% 235.60%
Biogen Inc. 341.43% 414.66% 501.05% 357.29% 453.23%
Bristol-Myers Squibb Co. 90.05% 357.63% 562.86% 434.48% 604.37%
Eli Lilly & Co. 601.09% 443.71% 317.93% 313.14% 284.18%
Gilead Sciences Inc. 218.86% 173.55% 353.60% 375.87% 385.39%
Illumina Inc. 789.11% 998.68% 841.95% 777.45% 794.02%
Johnson & Johnson 335.85% 288.60% 261.52% 301.73% 285.18%
Merck & Co. Inc. 328.56% 362.76% 219.59% 251.63% 139.01%
Pfizer Inc. 95.96% 163.95% 129.91% 85.80% 81.93%
Vertex Pharmaceuticals Inc. 1,179.74% 1,150.65% 1,235.48% 674.42% 764.06%
Zoetis Inc. 667.66% 408.21% 480.52% 354.22% 273.14%

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 Invested capital. See details »

3 2019 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 31,170,164 ÷ 6,727,300 = 463.34%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Regeneron Pharmaceuticals Inc.’s MVA spread ratio deteriorated from 2017 to 2018 and from 2018 to 2019.

MVA Margin

Regeneron Pharmaceuticals Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 31,170,164  35,870,206  28,567,514  33,808,783  35,059,746 
 
Revenues 7,863,400  6,710,800  5,872,227  4,860,427  4,103,728 
Add: Increase (decrease) in deferred revenue 294,000  (32,600) (113,099) 244,270  608,892 
Adjusted revenues 8,157,400  6,678,200  5,759,128  5,104,697  4,712,620 
Performance Ratio
MVA margin2 382.11% 537.12% 496.04% 662.31% 743.95%
Benchmarks
MVA Margin, Competitors3
Abbott Laboratories 368.47% 311.69% 252.28% 250.26% 153.78%
AbbVie Inc. 446.13% 371.34% 640.27% 331.71% 332.19%
Amgen Inc. 575.79% 468.33% 476.30% 427.69% 392.30%
Biogen Inc. 335.84% 405.96% 509.35% 402.61% 467.80%
Bristol-Myers Squibb Co. 345.41% 300.74% 448.04% 396.64% 527.50%
Eli Lilly & Co. 578.77% 464.62% 310.56% 336.26% 316.65%
Gilead Sciences Inc. 318.14% 285.14% 338.78% 251.48% 329.29%
Illumina Inc. 1,112.96% 1,195.33% 1,100.24% 931.69% 981.01%
Johnson & Johnson 396.88% 357.88% 364.69% 353.81% 303.53%
Merck & Co. Inc. 376.50% 420.85% 272.23% 334.87% 221.21%
Pfizer Inc. 224.34% 310.56% 254.28% 199.73% 178.61%
Vertex Pharmaceuticals Inc. 1,377.91% 1,457.72% 1,559.71% 1,176.70% 1,936.02%
Zoetis Inc. 1,049.26% 654.82% 679.17% 489.40% 399.11%

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11).

1 MVA. See details »

2 2019 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 31,170,164 ÷ 8,157,400 = 382.11%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Regeneron Pharmaceuticals Inc.’s MVA margin ratio improved from 2017 to 2018 but then deteriorated significantly from 2018 to 2019.