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These statements concern, and these risks and uncertainties include, among others: competing products and product candidates (including biosimilar products) that may be superior to, or more cost effective than, products marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees (collectively, "Regeneron's Products") and product candidates being developed by Regenero…
$638.88
$3.71 (-0.58%)
Price from 12 days ago
24.95% operating margin is above average. ROIC at 8.57%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue growth slowed to 1.0%, essentially flat. Margins also contracted 3.2pp. This is a business that needs a catalyst.
ROIC dropped from 11.87% to 8.57%, capital efficiency is deteriorating. Operating margin contracted 3.2pp YoY, cost discipline may be slipping.
15.6x earnings, 16.7x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$14.92B
▲ +1.0% YoY
Net Income (TTM)
$4.42B
▲ +2.1% YoY
Op. Margin
24.32%
▼ -3.2pp YoY
ROIC
8.60%
▼ -3.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$4.11B
▲ +11.3% YoY
Op. Cash Flow (TTM)
$5.01B
▲ +12.6% YoY
Net Debt
-$6.05B
Net Cash Position
Cash & Equiv.
$8.75B
5Y CAGR: +11.0%
5Y CAGR: +15.3%
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