Analysis of Geographic Areas
Regeneron Pharmaceuticals Inc. operates in 2 regions: United States and Rest of world.
Area Asset Turnover
Regeneron Pharmaceuticals Inc., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 1.85 | 2.00 | 2.30 | 4.51 | 2.32 |
| Rest of world | 0.60 | 0.42 | 0.09 | 0.00 | 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).
- United States Asset Turnover
- The asset turnover ratio for the United States region exhibits a fluctuating trend over the analyzed period. Starting at 2.32 in 2020, it experienced a marked increase to 4.51 in 2021. However, following this peak, the ratio decreased steadily over the subsequent years, reaching 2.3 in 2022, then further declining to 2.0 in 2023, and continuing down to 1.85 by the end of 2024. This pattern suggests an initial improvement in asset utilization within the domestic market, followed by a gradual reduction in efficiency or sales generation relative to assets thereafter.
- Rest of World Asset Turnover
- Data for the Rest of World shows no recorded asset turnover ratios until 2022, when a starting point of 0.09 is noted. This figure increases to 0.42 in 2023 and further rises to 0.6 in 2024. The upward trend reflects growing asset utilization and possibly expanding sales activity in international markets outside the United States during the latter years of the period. Despite the positive growth, the ratio remains significantly lower compared to the United States, indicating comparatively lower efficiency or scale in these regions.
- Overall Insights
- The combined geographic asset turnover trends point to a diversification of market activity with strengthening presence internationally, albeit from a low base. The decrease in the United States turnover ratio after 2021 could suggest challenges in maintaining previous levels of asset efficiency domestically. Conversely, the increasing ratios in the Rest of World segment may indicate successful efforts to expand or improve operations and sales ratios internationally. Monitoring these trajectories is important to assess shifts in market dynamics and resource utilization.
Area Asset Turnover: United States
Regeneron Pharmaceuticals Inc.; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net product sales | 7,199,700) | 6,753,700) | 6,820,700) | 12,117,200) | 5,567,600) |
| Net property, plant, and equipment | 3,883,800) | 3,375,000) | 2,960,000) | 2,684,400) | 2,397,800) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.85 | 2.00 | 2.30 | 4.51 | 2.32 |
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).
1 2024 Calculation
Area asset turnover = Net product sales ÷ Net property, plant, and equipment
= 7,199,700 ÷ 3,883,800 = 1.85
- Net product sales
- Net product sales experienced a significant increase from 5,567,600 thousand US dollars in 2020 to 12,117,200 thousand US dollars in 2021, more than doubling within one year. However, this was followed by a notable decline in 2022 to 6,820,700 thousand US dollars, and the sales remained relatively stable but lower in 2023 at 6,753,700 thousand US dollars. The figure showed a moderate recovery in 2024, increasing to 7,199,700 thousand US dollars.
- Net property, plant, and equipment
- Net property, plant, and equipment demonstrated a consistent upward trend over the five-year period. Starting at 2,397,800 thousand US dollars in 2020, the value increased steadily each year, reaching 3,883,800 thousand US dollars by 2024. This growth indicates ongoing investment in fixed assets throughout the period analyzed.
- Area asset turnover
- The area asset turnover ratio showed considerable fluctuation. It increased sharply from 2.32 in 2020 to 4.51 in 2021, indicating a higher efficiency in generating sales from assets during that year. Subsequently, the ratio dropped back to 2.3 in 2022 and declined further to 2.0 in 2023, continuing down to 1.85 in 2024. This downward movement suggests a decreasing efficiency in asset utilization despite the increase in net property, plant, and equipment.
Area Asset Turnover: Rest of world
Regeneron Pharmaceuticals Inc.; Rest of world; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Net product sales | 429,500) | 324,300) | 73,000) | —) | —) |
| Net property, plant, and equipment | 715,900) | 771,400) | 803,000) | 797,800) | 823,800) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 0.60 | 0.42 | 0.09 | 0.00 | 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).
1 2024 Calculation
Area asset turnover = Net product sales ÷ Net property, plant, and equipment
= 429,500 ÷ 715,900 = 0.60
- Net Product Sales
- Net product sales for the "Rest of world" segment were not reported for the years 2020 and 2021. Starting in 2022, sales recorded a value of 73 million US dollars, followed by a substantial increase to 324.3 million US dollars in 2023, and further growth to 429.5 million US dollars in 2024. This reflects a rapidly expanding market presence or enhanced product acceptance in this geographic area over the recent periods.
- Net Property, Plant, and Equipment
- The net value of property, plant, and equipment shows a declining trend over the five-year period. Beginning at 823.8 million US dollars in 2020, it decreased slightly to 797.8 million in 2021, remained relatively stable at 803 million in 2022, but then declined more noticeably to 771.4 million in 2023 and further to 715.9 million in 2024. This pattern could suggest asset sales, depreciation outpacing investment, or other strategic decisions reducing fixed assets in the region.
- Area Asset Turnover
- Area asset turnover ratios were unavailable for 2020 and 2021. Starting in 2022, the turnover was very low at 0.09, indicating limited efficiency in generating sales from assets at that time. However, the ratio increased significantly to 0.42 in 2023 and further to 0.6 in 2024, implying improved utilization of assets to generate revenue. This upward trajectory aligns with the substantial growth observed in net product sales, suggesting better operational efficiency or more effective deployment of assets in this geographic area.
- Overall Observation
- The data indicates a strategic shift or a growth phase in the "Rest of world" segment beginning around 2022. Despite a decline in net property, plant, and equipment, the company has successfully increased sales and improved asset turnover ratios, signaling enhanced operational effectiveness and market penetration in this region.
Net product sales
Regeneron Pharmaceuticals Inc., net product sales by geographic area
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 7,199,700) | 6,753,700) | 6,820,700) | 12,117,200) | 5,567,600) |
| Rest of world | 429,500) | 324,300) | 73,000) | —) | —) |
| Total | 7,629,200) | 7,078,000) | 6,893,700) | 12,117,200) | 5,567,600) |
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).
- United States Net Product Sales
- The net product sales in the United States showed significant growth from 2020 to 2021, rising from approximately 5.57 billion USD to 12.12 billion USD. However, in 2022, there was a notable decrease to around 6.82 billion USD, followed by a slight decline to approximately 6.75 billion USD in 2023. In 2024, the figures demonstrated a modest recovery, increasing to nearly 7.20 billion USD.
- Rest of World Net Product Sales
- There were no reported sales data outside the United States for 2020 and 2021. Starting in 2022, the rest of the world sales appeared with a small base of 73 million USD. These sales then expanded substantially in 2023 to roughly 324 million USD and further increased in 2024 to approximately 430 million USD, indicating an emerging and growing international market presence.
- Total Net Product Sales
- Total net product sales mirrored the trends observed in the United States segment given its dominant share. The total sales surged from about 5.57 billion USD in 2020 to 12.12 billion USD in 2021, followed by a decline to nearly 6.89 billion USD in 2022. Subsequent years showed gradual improvement, with total sales reaching around 7.08 billion USD in 2023 and climbing further to approximately 7.63 billion USD in 2024. The contribution of international sales has become increasingly relevant in the overall total from 2022 onwards.
- Overall Observations
- The data reflect a sharp increase in net product sales in the United States in 2021, followed by a contraction over the next two years before experiencing a modest rebound in 2024. Meanwhile, the international market has begun contributing a growing share since 2022, indicating geographic diversification of revenue streams. The total sales trend is heavily influenced by the fluctuations in the United States sales, but the increasing rest of world sales provide a positive outlook for future geographic expansion and revenue stabilization.
Net property, plant, and equipment
Regeneron Pharmaceuticals Inc., net property, plant, and equipment by geographic area
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | 3,883,800) | 3,375,000) | 2,960,000) | 2,684,400) | 2,397,800) |
| Rest of world | 715,900) | 771,400) | 803,000) | 797,800) | 823,800) |
| Total | 4,599,700) | 4,146,400) | 3,763,000) | 3,482,200) | 3,221,600) |
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).
- United States Net Property, Plant, and Equipment
- The net property, plant, and equipment in the United States demonstrated a consistent upward trend throughout the observed periods. Starting at $2,398,800 thousand at the end of 2020, the figure incrementally increased each year, reaching $3,883,800 thousand by the end of 2024. This upward trajectory indicates continuous investment or accumulation of assets within the domestic market over the five-year span.
- Rest of World Net Property, Plant, and Equipment
- In contrast to the United States, the net property, plant, and equipment value for the rest of the world showed a declining pattern. Beginning at $823,800 thousand at the end of 2020, the amount decreased over the years, falling to $715,900 thousand by the end of 2024. This gradual reduction suggests divestment, asset depreciation exceeding additions, or reduced capital expenditures internationally.
- Total Net Property, Plant, and Equipment
- The total net property, plant, and equipment value, aggregating both geographic areas, exhibited a steady increase from $3,221,600 thousand at the end of 2020 to $4,599,700 thousand at the end of 2024. This overall rise reflects the dominant influence of growth in the United States segment, which more than offset the decline observed in the rest of the world.
- Insight and Summary
- The data reveals a strategic emphasis on domestic asset growth, likely reflecting a focus on expanding or upgrading facilities within the United States. Simultaneously, the reduction in net property, plant, and equipment outside the United States may indicate market realignment or consolidation of international operations. Overall, the company’s total fixed asset base has expanded significantly, driven primarily by domestic investment.