Stock Analysis on Net

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Analysis of Solvency Ratios 

Microsoft Excel LibreOffice Calc

Solvency Ratios (Summary)

Regeneron Pharmaceuticals Inc., solvency ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Debt Ratios
Debt to equity 0.14 0.24 0.06 0.08 0.11
Debt to capital 0.13 0.20 0.06 0.07 0.10
Debt to assets 0.11 0.16 0.05 0.06 0.08
Financial leverage 1.36 1.56 1.34 1.34 1.43
Coverage Ratios
Interest coverage 163.75 67.97 81.43 91.55 83.75

Based on: 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).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Regeneron Pharmaceuticals Inc. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Regeneron Pharmaceuticals Inc. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Regeneron Pharmaceuticals Inc. debt to assets ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Regeneron Pharmaceuticals Inc. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Regeneron Pharmaceuticals Inc. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Debt to Equity

Regeneron Pharmaceuticals Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Finance lease liabilities, current portion 719,700  —  —  —  — 
Long-term debt 1,980,000  1,978,500  —  —  — 
Finance lease liabilities, excluding current portion —  717,200  713,900  708,500  703,453 
Total debt 2,699,700  2,695,700  713,900  708,500  703,453 
 
Stockholders’ equity 18,768,800  11,025,300  11,089,700  8,757,300  6,144,078 
Solvency Ratio
Debt to equity1 0.14 0.24 0.06 0.08 0.11
Benchmarks
Debt to Equity, Competitors2
AbbVie Inc. 4.98 6.58 7.33
Amgen Inc. 4.97 3.51 3.09 2.71 1.40
Eli Lilly & Co. 1.88 2.94 5.88 1.30 1.18
Gilead Sciences Inc. 1.27 1.73 1.09 1.28 1.64
Johnson & Johnson 0.46 0.56 0.47 0.51 0.57
Merck & Co. Inc. 0.87 1.26 1.02 0.94 0.71
Moderna Inc. 0.05 0.05 0.03 0.03
Pfizer Inc. 0.50 0.63 0.83 0.66 0.61
Thermo Fisher Scientific Inc. 0.85 0.63 0.60 0.69 0.83
Zoetis Inc. 1.45 1.91 2.38 2.95 2.80
Debt to Equity, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.95 1.22 1.22 1.06 0.95
Debt to Equity, Industry
Health Care 0.84 0.99 1.00 0.94 0.89

Based on: 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).

1 2021 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 2,699,700 ÷ 18,768,800 = 0.14

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Regeneron Pharmaceuticals Inc. debt to equity ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Capital

Regeneron Pharmaceuticals Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Finance lease liabilities, current portion 719,700  —  —  —  — 
Long-term debt 1,980,000  1,978,500  —  —  — 
Finance lease liabilities, excluding current portion —  717,200  713,900  708,500  703,453 
Total debt 2,699,700  2,695,700  713,900  708,500  703,453 
Stockholders’ equity 18,768,800  11,025,300  11,089,700  8,757,300  6,144,078 
Total capital 21,468,500  13,721,000  11,803,600  9,465,800  6,847,531 
Solvency Ratio
Debt to capital1 0.13 0.20 0.06 0.07 0.10
Benchmarks
Debt to Capital, Competitors2
AbbVie Inc. 0.83 0.87 1.14 1.27 0.88
Amgen Inc. 0.83 0.78 0.76 0.73 0.58
Eli Lilly & Co. 0.65 0.75 0.85 0.57 0.54
Gilead Sciences Inc. 0.56 0.63 0.52 0.56 0.62
Johnson & Johnson 0.31 0.36 0.32 0.34 0.37
Merck & Co. Inc. 0.46 0.56 0.50 0.48 0.42
Moderna Inc. 0.05 0.05 0.03 0.03
Pfizer Inc. 0.33 0.39 0.45 0.40 0.38
Thermo Fisher Scientific Inc. 0.46 0.39 0.37 0.41 0.45
Zoetis Inc. 0.59 0.66 0.70 0.75 0.74
Debt to Capital, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.49 0.55 0.55 0.51 0.49
Debt to Capital, Industry
Health Care 0.46 0.50 0.50 0.49 0.47

Based on: 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).

1 2021 Calculation
Debt to capital = Total debt ÷ Total capital
= 2,699,700 ÷ 21,468,500 = 0.13

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Regeneron Pharmaceuticals Inc. debt to capital ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Debt to Assets

Regeneron Pharmaceuticals Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Finance lease liabilities, current portion 719,700  —  —  —  — 
Long-term debt 1,980,000  1,978,500  —  —  — 
Finance lease liabilities, excluding current portion —  717,200  713,900  708,500  703,453 
Total debt 2,699,700  2,695,700  713,900  708,500  703,453 
 
Total assets 25,434,800  17,163,300  14,805,200  11,734,500  8,764,286 
Solvency Ratio
Debt to assets1 0.11 0.16 0.05 0.06 0.08
Benchmarks
Debt to Assets, Competitors2
AbbVie Inc. 0.52 0.57 0.75 0.68 0.53
Amgen Inc. 0.54 0.52 0.50 0.51 0.44
Eli Lilly & Co. 0.35 0.36 0.39 0.29 0.30
Gilead Sciences Inc. 0.39 0.46 0.40 0.43 0.48
Johnson & Johnson 0.19 0.20 0.18 0.20 0.22
Merck & Co. Inc. 0.31 0.35 0.31 0.30 0.28
Moderna Inc. 0.03 0.02 0.02 0.02
Pfizer Inc. 0.21 0.26 0.31 0.26 0.25
Thermo Fisher Scientific Inc. 0.37 0.31 0.30 0.34 0.37
Zoetis Inc. 0.47 0.53 0.56 0.60 0.58
Debt to Assets, Sector
Pharmaceuticals, Biotechnology & Life Sciences 0.32 0.36 0.36 0.34 0.33
Debt to Assets, Industry
Health Care 0.30 0.33 0.33 0.33 0.32

Based on: 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).

1 2021 Calculation
Debt to assets = Total debt ÷ Total assets
= 2,699,700 ÷ 25,434,800 = 0.11

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Regeneron Pharmaceuticals Inc. debt to assets ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Financial Leverage

Regeneron Pharmaceuticals Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Total assets 25,434,800  17,163,300  14,805,200  11,734,500  8,764,286 
Stockholders’ equity 18,768,800  11,025,300  11,089,700  8,757,300  6,144,078 
Solvency Ratio
Financial leverage1 1.36 1.56 1.34 1.34 1.43
Benchmarks
Financial Leverage, Competitors2
AbbVie Inc. 9.51 11.51 13.89
Amgen Inc. 9.13 6.69 6.17 5.31 3.17
Eli Lilly & Co. 5.44 8.27 15.07 4.47 3.88
Gilead Sciences Inc. 3.23 3.76 2.74 2.98 3.44
Johnson & Johnson 2.46 2.76 2.65 2.56 2.61
Merck & Co. Inc. 2.77 3.62 3.26 3.09 2.56
Moderna Inc. 1.74 2.86 1.35 1.28
Pfizer Inc. 2.35 2.44 2.65 2.51 2.41
Thermo Fisher Scientific Inc. 2.33 2.00 1.97 2.04 2.23
Zoetis Inc. 3.06 3.61 4.26 4.93 4.85
Financial Leverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 2.98 3.43 3.39 3.15 2.89
Financial Leverage, Industry
Health Care 2.81 3.02 2.98 2.89 2.76

Based on: 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).

1 2021 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 25,434,800 ÷ 18,768,800 = 1.36

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Regeneron Pharmaceuticals Inc. financial leverage ratio increased from 2019 to 2020 but then slightly decreased from 2020 to 2021 not reaching 2019 level.

Interest Coverage

Regeneron Pharmaceuticals Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in thousands)
Net income 8,075,300  3,513,200  2,115,800  2,444,400  1,198,511 
Add: Income tax expense 1,250,500  297,200  313,300  109,100  880,000 
Add: Interest expense 57,300  56,900  30,200  28,200  25,119 
Earnings before interest and tax (EBIT) 9,383,100  3,867,300  2,459,300  2,581,700  2,103,630 
Solvency Ratio
Interest coverage1 163.75 67.97 81.43 91.55 83.75
Benchmarks
Interest Coverage, Competitors2
AbbVie Inc. 6.36 2.38 5.72 4.86 7.72
Amgen Inc. 6.60 7.44 8.09 7.86 8.36
Eli Lilly & Co. 19.12 21.11 14.15 14.95 10.77
Gilead Sciences Inc. 9.27 2.70 6.19 8.24 13.10
Johnson & Johnson 125.46 83.07 55.49 18.91 19.92
Merck & Co. Inc. 18.22 11.58 13.84 12.27 9.65
Moderna Inc. 739.06 -74.31 -76.85 -123.16
Pfizer Inc. 19.83 6.17 12.23 10.03 10.69
Thermo Fisher Scientific Inc. 17.49 14.07 7.02 5.89 5.10
Zoetis Inc. 12.11 9.64 9.08 9.20 9.71
Interest Coverage, Sector
Pharmaceuticals, Biotechnology & Life Sciences 16.98 8.81 11.04 9.91 11.01
Interest Coverage, Industry
Health Care 12.77 7.19 8.61 8.05 9.38

Based on: 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).

1 2021 Calculation
Interest coverage = EBIT ÷ Interest expense
= 9,383,100 ÷ 57,300 = 163.75

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Regeneron Pharmaceuticals Inc. interest coverage ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.