Regeneron Pharmaceuticals Inc. (REGN) financial statements: income statement, balance sheet and cash flow
Regeneron Pharmaceuticals Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Regeneron Pharmaceuticals Inc. reported revenue of $14.3B (+1.0% year on year) and net income of $4.5B (+2.1% year on year).
Income statement
Regeneron Pharmaceuticals Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue from contract with customer
$14.3B
$14.2B
$13.1B
$12.2B
Research and development
$5.9B
$5.1B
$4.4B
$3.6B
Acquired in-process research and development
$124.1M
$101.0M
$186.1M
$255.1M
Selling, general, and administrative
$2.7B
$3.0B
$2.6B
$2.1B
Cost of goods sold and of collaboration and contract manufacturing
$2.1B
$2.0B
$1.8B
$1.6B
Other operating (income) expense, net
($10.0M)
$53.4M
($2.1M)
($89.9M)
Total expenses
$10.8B
$10.2B
$9.1B
$7.4B
Income from operations
$3.6B
$4.0B
$4.0B
$4.7B
Other income (expense), net
$1.7B
$844.4M
$225.2M
$179.3M
Interest expense
($43.8M)
($55.2M)
($73.0M)
($59.4M)
Total other income (expense)
$1.7B
$789.2M
$152.2M
$119.9M
Income before income taxes
$5.2B
$4.8B
$4.2B
$4.9B
Income tax expense
$725.8M
$367.3M
$245.7M
$520.4M
Net income per share - basic (in dollars per share)
$43.07
$40.90
$37.05
$40.51
Net income per share - diluted (in dollars per share)
$41.48
$38.34
$34.77
$38.22
Weighted average shares outstanding - basic (in shares)
104.6M
107.9M
106.7M
107.1M
Weighted average shares outstanding - diluted (in shares)
108.6M
115.1M
113.7M
113.5M
Net income
$4.5B
$4.4B
$4.0B
$4.3B
Unrealized gain on debt securities
$83.0M
$73.6M
$158.2M
($213.6M)
Gain (loss) on foreign currency translation
$2.4M
($600.0K)
—
—
Comprehensive income
$4.6B
$4.5B
$4.1B
$4.1B
Regeneron Pharmaceuticals Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$4.3B
$3.6B
$3.8B
$3.7B
Research and development
$1.6B
$1.5B
$1.5B
$1.4B
Acquired in-process research and development
$127.0M
$101.9M
$83.1M
$10.0M
Selling, general, and administrative
$662.1M
$647.7M
$657.8M
$634.2M
Cost of goods sold, collaboration and contract manufacturing
$576.5M
$669.4M
$521.6M
$530.2M
Total Expenses
$3.0B
$3.0B
$2.7B
$2.6B
Income from operations
$1.3B
$642.9M
$1.0B
$1.1B
Other income (expense), net
$245.3M
$201.2M
$755.8M
$442.8M
Interest expense
($11.0M)
($12.9M)
($19.3M)
($3.6M)
Total other income (expense)
$234.3M
$188.3M
$736.5M
$439.2M
Income before income taxes
$1.5B
$831.2M
$1.8B
$1.5B
Income tax expense
$230.9M
$104.0M
$303.3M
$127.1M
Net income per share - basic (in dollars per share)
$12.62
$6.99
$14.09
$13.24
Net income per share - diluted (in dollars per share)
$12.23
$6.75
$13.62
$12.81
Weighted average shares outstanding - basic (in shares)
102.8M
104.0M
103.6M
105.1M
Weighted average shares outstanding - diluted (in shares)
106.0M
107.7M
107.2M
108.6M
Net income
$1.3B
$727.2M
$1.5B
$1.4B
Unrealized (loss) gain on debt securities
($48.0M)
($65.8M)
$15.7M
$22.1M
Gain on foreign currency translation
$300.0K
$200.0K
$800.0K
$1.3M
Comprehensive income
$1.2B
$661.6M
$1.5B
$1.4B
Balance sheet
Regeneron Pharmaceuticals Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$3.1B
$2.5B
$2.7B
$3.1B
Marketable securities
$5.5B
$6.5B
$8.1B
$4.6B
Accounts receivable, net
$5.7B
$6.2B
$5.7B
$5.3B
Inventories
$3.2B
$3.1B
$2.6B
$2.4B
Prepaid expenses and other current assets
$474.8M
$349.2M
$386.6M
$411.2M
Total current assets
$18.0B
$18.7B
$19.5B
$15.9B
Marketable securities
$10.3B
$8.9B
$5.4B
$6.6B
Property, plant, and equipment, net
$5.1B
$4.6B
$4.1B
$3.8B
Intangible assets, net
$1.3B
$1.1B
$1.0B
$915.5M
Deferred tax assets
$4.1B
$3.3B
$2.6B
$1.7B
Other noncurrent assets
$1.8B
$1.1B
$444.1M
$336.4M
Total assets
$40.6B
$37.8B
$33.1B
$29.2B
Accounts payable
$939.0M
$789.5M
$606.6M
$589.2M
Accrued expenses and other current liabilities
$2.9B
$2.5B
$2.4B
$2.1B
Deferred revenue
$553.0M
$627.7M
$458.9M
$477.9M
Total current liabilities
$4.4B
$3.9B
$3.4B
$3.1B
Long-term debt
$2.0B
$2.0B
$2.0B
$2.0B
Finance lease liabilities
$720.0M
$720.0M
$720.0M
$0
Deferred revenue
$208.7M
$185.7M
$126.7M
$69.8M
Other noncurrent liabilities
$2.0B
$1.6B
$854.1M
$638.0M
Total liabilities
$9.3B
$8.4B
$7.1B
$6.6B
Preferred Stock, par value $.01 per share; 30.0 shares authorized; shares issued and outstanding - none
$0.00
$0.00
$0.00
$0.00
Common stock
$100.0K
$100.0K
$100.0K
$100.0K
Additional paid-in capital
$14.0B
$12.9B
$11.4B
$9.9B
Retained earnings
$35.8B
$31.7B
$27.3B
$23.3B
Accumulated other comprehensive income (loss)
$77.5M
($7.9M)
($80.9M)
($238.8M)
Treasury Stock, at cost; 33.7 shares in 2025 and 28.2 shares in 2024
-18.6B
-15.2B
-12.6B
-10.4B
Total stockholders' equity
$31.3B
$29.4B
$26.0B
$22.7B
Total liabilities and stockholders' equity
$40.6B
$37.8B
$33.1B
$29.2B
Regeneron Pharmaceuticals Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$2.5B
$3.0B
$2.5B
$2.0B
Marketable securities
$5.5B
$5.8B
$5.9B
$5.5B
Accounts receivable, net
$6.6B
$5.7B
$5.7B
$5.6B
Inventories
$3.1B
$3.1B
$3.3B
$3.2B
Prepaid expenses and other current assets
$801.7M
$620.9M
$595.6M
$574.3M
Total current assets
$18.4B
$18.2B
$18.0B
$16.9B
Marketable securities
$9.8B
$9.8B
$10.3B
$10.1B
Property, plant, and equipment, net
$5.5B
$5.3B
$5.0B
$4.8B
Intangible assets, net
$1.3B
$1.3B
$1.4B
$1.4B
Deferred tax assets
$4.4B
$4.2B
$3.8B
$3.6B
Other noncurrent assets
$2.3B
$2.1B
$1.7B
$1.5B
Total assets
$41.7B
$40.9B
$40.2B
$38.2B
Accounts payable
$1.2B
$1.0B
$903.8M
$723.9M
Accrued expenses and other current liabilities
$3.0B
$2.7B
$3.0B
$2.5B
Finance lease liabilities
$720.0M
$720.0M
—
—
Deferred revenue
$684.8M
$636.2M
$545.6M
$481.9M
Total current liabilities
$5.5B
$5.1B
$4.4B
$3.7B
Long-term debt
$2.0B
$2.0B
$2.0B
$2.0B
Finance lease liabilities
$0
$0
$720.0M
$720.0M
Deferred revenue
$220.4M
$225.1M
$219.2M
$206.3M
Other noncurrent liabilities
$2.3B
$2.1B
$1.9B
$1.7B
Total liabilities
$10.0B
$9.4B
$9.2B
$8.3B
Preferred Stock, par value $.01 per share; 30.0 shares authorized; shares issued and outstanding - none
$0.00
$0.00
$0.00
$0.00
Common stock
$100.0K
$100.0K
$100.0K
$100.0K
Additional paid-in capital
$14.7B
$14.4B
$13.8B
$13.5B
Retained earnings
$37.6B
$36.4B
$35.0B
$33.7B
Accumulated other comprehensive (loss) income
($35.8M)
$11.9M
$69.0M
$52.5M
Treasury Stock, at cost; 36.4 shares in 2026 and 33.7 shares in 2025
-20.6B
-19.4B
-17.9B
-17.3B
Total stockholders' equity
$31.7B
$31.4B
$31.0B
$29.9B
Total liabilities and stockholders' equity
$41.7B
$40.9B
$40.2B
$38.2B
Cash flow statement
Regeneron Pharmaceuticals Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$4.5B
$4.4B
$4.0B
$4.3B
Depreciation and amortization
$543.7M
$482.9M
$421.0M
$341.4M
Stock-based compensation expense
$993.7M
$982.8M
$885.0M
$725.0M
(Gains) losses on marketable and other securities, net
($946.1M)
($118.3M)
$266.4M
$36.8M
Other, net
$135.5M
$23.5M
($100.0K)
$368.0M
Deferred income taxes
($785.4M)
($757.3M)
($837.8M)
($746.4M)
Decrease (increase) in accounts receivable
$498.1M
($554.0M)
($338.8M)
$707.8M
Increase in inventories
($275.3M)
($619.7M)
($271.7M)
($696.5M)
Increase in prepaid expenses and other assets
($375.3M)
($407.5M)
($120.1M)
($148.6M)
(Decrease) increase in deferred revenue
($51.7M)
$227.8M
$37.9M
$32.4M
Increase in accounts payable, accrued expenses, and other liabilities
$736.8M
$735.1M
$598.6M
($138.4M)
Total adjustments
$474.0M
$7.9M
$640.4M
$676.5M
Net cash provided by operating activities
$5.0B
$4.4B
$4.6B
$5.0B
Purchases of marketable and other securities
($11.0B)
($16.6B)
($11.6B)
($7.5B)
Sales or maturities of marketable and other securities
$11.5B
$15.0B
$9.4B
$5.6B
Capital expenditures
($898.4M)
($755.9M)
($718.6M)
($590.1M)
Proceeds from sale of property, plant, and equipment
$0
$20.1M
—
—
Payments for intangible assets
($315.3M)
($125.7M)
($207.8M)
($1.0B)
Acquisitions, net of cash acquired
($3.3M)
($16.5M)
($54.9M)
—
Net cash used in investing activities
($629.1M)
($2.5B)
($3.2B)
($3.8B)
Proceeds from issuance of Common Stock
$635.9M
$1.5B
$1.1B
$1.5B
Payments in connection with Common Stock tendered for employee tax obligations
($532.1M)
($1.0B)
($700.6M)
($445.7M)
Repurchases of Common Stock
($3.4B)
($2.6B)
($2.2B)
($2.1B)
Dividends paid
($370.3M)
—
—
—
Other
($10.3M)
($33.4M)
—
—
Net cash used in financing activities
($3.7B)
($2.2B)
($1.8B)
($1.0B)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
$300.0K
($700.0K)
($400.0K)
—
Net increase (decrease) in cash, cash equivalents, and restricted cash
$634.7M
($248.8M)
($381.6M)
$221.3M
Cash, cash equivalents, and restricted cash at beginning of period
$2.5B
$2.7B
$3.1B
$2.9B
Cash, cash equivalents, and restricted cash at end of period
$3.1B
$2.5B
$2.7B
$3.1B
Cash paid for interest (net of amounts capitalized)
$41.6M
$52.6M
$73.1M
$53.7M
Regeneron Pharmaceuticals Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$2.0B
$727.2M
$3.7B
$2.2B
Depreciation and amortization
$246.9M
$123.2M
$398.7M
$262.0M
Stock-based compensation expense
$500.4M
$257.4M
$744.4M
$507.4M
Gains on marketable and other securities, net
($86.9M)
($25.0M)
($967.6M)
($389.9M)
Other, net
$110.5M
$55.6M
($1.4M)
($17.7M)
Deferred income taxes
($290.4M)
($96.0M)
($552.9M)
($274.3M)
(Increase) decrease in accounts receivable
($837.3M)
$1.2M
$549.3M
$629.6M
Increase in inventories
($1.6M)
$26.6M
($277.4M)
($194.8M)
Increase in prepaid expenses and other assets
($517.7M)
($198.6M)
($458.1M)
($410.2M)
Increase (decrease) in deferred revenue
$143.5M
$99.6M
($48.6M)
($125.2M)
Increase in accounts payable, accrued expenses, and other liabilities
$600.4M
$107.7M
$761.5M
$2.3M
Total adjustments
($132.2M)
$351.7M
$147.9M
($10.8M)
Net cash provided by operating activities
$1.9B
$1.1B
$3.8B
$2.2B
Purchases of marketable and other securities
($4.7B)
($2.8B)
($8.9B)
($5.4B)
Sales or maturities of marketable and other securities
$4.8B
$2.6B
$9.0B
$5.6B
Capital expenditures
($470.8M)
($230.6M)
($649.7M)
($448.3M)
Payments for intangible assets
($99.9M)
($48.9M)
($273.3M)
($230.0M)
Net cash used in investing activities
($521.6M)
($428.9M)
($849.4M)
($446.5M)
Proceeds from issuance of Common Stock
$212.3M
$163.1M
$132.4M
$92.1M
Payments in connection with Common Stock tendered for employee tax obligations
($80.8M)
($73.2M)
($12.9M)
($9.9M)
Repurchases of Common Stock
($2.0B)
($794.3M)
($2.8B)
($2.1B)
Dividends paid
($194.6M)
($97.8M)
($277.6M)
($186.4M)
Other
$0
$0
($10.3M)
($10.3M)
Net cash used in financing activities
($2.0B)
($802.2M)
($2.9B)
($2.2B)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
($1.2M)
($900.0K)
$600.0K
$1.0M
Net decrease in cash, cash equivalents, and restricted cash
($657.7M)
($153.1M)
$24.1M
($473.4M)
Cash, cash equivalents, and restricted cash at beginning of period
$3.1B
$3.1B
$2.5B
$2.5B
Cash, cash equivalents, and restricted cash at end of period