Health Care · Biotechnology · US stock · price as of 16 Oct 2026
Key indicators
Price
$790.74
52-week range
$561.12 – $859.34
Market cap
$83.8B
P/E (trailing)
19.6×
EV / EBITDA
17.8×
Free-cash-flow yield
4.5%
Dividend yield
0.5%
Revenue (last 12 months)
$15.5B
Revenue growth (3y a year)
5.6%
Operating margin
24.7%
Return on invested capital
12.5%
Net debt / EBITDA
-1.4×
Fair value
Blended fair value$919.97 range $890 – $955
Versus priceFair+16% to fair value
Peer multiples
$940.67
Fundamentals-adjusted multiple
$953.83
10-year DCF (market-scaled)
$865.41
Earnings power value (floor, not blended)
$511.85
Model uncertainty
High
X-Ray Score
50/ 100 · Medium confidence · ahead of 47% of sector peers
Valuation63
Growth34
Profitability37
Financial health71
Dividends39
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Regeneron is a biotechnology company that discovers, develops and commercialises medicines for serious diseases. Its marketed products include Eylea for eye conditions and Libtayo for certain cancers, and it shares in the Dupixent antibody medicine developed with Sanofi, which treats several inflammatory conditions. Much of its research relies on its own antibody technology platforms. It supplies hospitals, clinics and specialty providers through distributors and works with partner companies on development.
Revenue comes from product sales and from collaboration income, including its share of Dupixent profits. Sales were $15.5 billion over the last twelve months, up 5.6% a year over the last three years, with an operating margin of 24.7%. The business earns a profit of 13% on the capital invested in it and has net debt of -1.4 times EBITDA, meaning it holds more cash than debt. A dividend is paid, with a yield of 0.5%.
StocksXray gives Regeneron Pharmaceuticals, Inc. an X-Ray Score of 50 out of 100 (medium confidence), ahead of 47% of the S&P 500 stocks in its sector. Its strongest lens is financial health (71) and its weakest is growth (34).
Our fair value blend is $919.97 (range $890.01 to $954.67). At $790.74 the stock trades 14% below that blend, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
Regeneron Pharmaceuticals, Inc. (REGN)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$625.62
$714.75
$870.08
$705.67
$768.90
$790.74
Market cap
$70.2B
$81.1B
$98.9B
$81.2B
$83.5B
$83.8B
P/E
8.7×
18.7×
25.0×
18.4×
18.5×
19.6×
EV / revenue
4.1×
6.2×
6.9×
5.2×
5.4×
5.0×
EV / EBITDA
7.2×
14.8×
20.2×
16.6×
18.7×
17.8×
Price / free cash flow
10.8×
18.3×
25.5×
22.2×
20.5×
22.3×
Free-cash-flow yield
9.3%
5.5%
3.9%
4.5%
4.9%
4.5%
Price / book
3.7×
3.6×
3.8×
2.8×
2.7×
2.6×
Dividend yield
–
–
–
–
–
0.47%
Fundamentals checklist ● 6 Good · ● 6 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−0.8%Bad
Free-cash-flow yield4.5%Average
Risk models
Altman Z score8.9×Good
Piotroski F-Score5 of 9Bad
Growth
EPS growth (3y)2.8%Average
Free-cash-flow growth (3y)−2.7%Average
Revenue growth (3y)5.6%Average
Growth consistency80%Bad
Balance sheet
Current ratio3.3×Good
Net debt / EBITDA-1.4×Good
Interest coverno interest costGood
Valuation
Fair value vs price1.2×Good
EBIT / EV yield4.9%Average
Profitability
Return on invested capital12.5%Average
Operating margin24.7%Good
XStocksXray
Regeneron Pharmaceuticals, Inc. (REGN)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
16,072
12,173
13,117
14,202
14,343
15,535
Gross profit
–
–
–
–
–
–
Operating income
8,947
4,739
4,047
3,991
3,578
3,843
Net income
8,075
4,338
3,954
4,413
4,505
4,329
Diluted EPS ($)
71.97
38.22
34.77
38.34
41.48
40.31
Free cash flow
6,529
4,425
3,875
3,665
4,081
3,760
Gross margin
–
–
–
–
–
–
Operating margin
55.7%
38.9%
30.9%
28.1%
24.9%
24.7%
Net margin
50.2%
35.6%
30.1%
31.1%
31.4%
27.9%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
25,435
29,215
33,080
37,759
40,559
41,731
Cash
2,886
3,106
2,730
2,488
3,118
2,456
Total debt
1,980
1,981
1,983
1,984
1,986
1,987
Equity
18,769
22,664
25,973
29,354
31,257
31,711
Dividend per share ($)
–
–
–
–
–
3.64
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.