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Regeneron Pharmaceuticals, Inc. is an American biotechnology company headquartered in Westchester County, New York. The company was founded in 1988. Originally focused on neurotrophic factors and their regenerative capabilities, giving rise to its present name; the company has since expanded operations into the study of both cytokine and tyrosine kinase receptors, which gave rise to their first product, which is a VEGF-trap.
via Wikipedia →Annual figures from the company's own SEC filings. Tap any number to open the filing it came from.
| Fiscal year ending | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
| RevenueGrowth = this year ÷ prior year − 1 | $14.3B+1.0% | $14.2B+8.3% | $13.1B+7.8% | $12.2B-24.3% |
| Operating incomeMargin = operating income ÷ revenue | $3.6B24.9% margin | $4.0B28.1% margin | $4.0B30.9% margin | $4.7B38.9% margin |
| Net incomeMargin = net income ÷ revenue | $4.5B31.4% margin | $4.4B31.1% margin | $4.0B30.1% margin | $4.3B35.6% margin |
| Operating cash flowCash the business generated, vs net income above | $5.0B | $4.4B | $4.6B | $5.0B |
| Cash vs long-term debtCash − long-term debt. Excludes short-term borrowings and leases | — | $504M$2.5B cash · $2.0B debt | $747M$2.7B cash · $2.0B debt | $1.1B$3.1B cash · $2.0B debt |
| Shares (weighted avg.)Change = this year ÷ prior year − 1 | 105M-3.1% | 108M+1.1% | 107M-0.4% | 107M+1.3% |
Automatic checks on the figures above. A flag is a pattern to investigate, not a finding of wrongdoing, and each one lists ordinary explanations for it.
Operating margin fell from 30.9% in Dec 2023 to 28.1% in Dec 2024 and 24.9% in Dec 2025.
| Operating income | Dec 2025 | $3.6B |
| Revenue | Dec 2025 | $14.3B |
| Operating income | Dec 2024 | $4.0B |
| Revenue | Dec 2024 | $14.2B |
| Operating income | Dec 2023 | $4.0B |
| Revenue | Dec 2023 | $13.1B |
How it's calculated: Operating margin = operating income ÷ revenue, for each year.
Rule: Operating margin lower in each of the last two years, down 3 percentage points or more in total.
Why it can matter: A margin that keeps shrinking can mean costs are rising faster than prices, or that the company is losing pricing power.
Common innocent explanations: Deliberate investment in growth, a shift in the mix of products, or one-off charges that depress a single year.
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Source: SEC EDGAR annual reports (Form 10-K), latest filed 2026-02-04. If a company later restates a year, the most recent filing is used. Dashes mean the company did not report that line in a form we could read. For information only, not investment advice.
Recent notices REGNhas filed with the SEC (Form 8-K). Headings are the SEC's own item titles; open the filing to read what the company said.
A filing appearing here is not a sign of a problem: most are routine. We highlight a few kinds, such as auditor changes, listing notices and leadership changes, because they are worth reading. For information only, not investment advice.