Latest Ratios: P/E Ratio 19.3x · EV/EBITDA 19.9x · ROE 14.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $82.6B | $83.8B | $82.0B | $99.9B | $81.9B | $70.9B | $55.6B | $43.0B | $42.9B | $43.6B | $42.7B |
| Enterprise Value | $82.2B | $83.4B | $82.2B | $99.8B | $81.5B | $70.7B | $56.1B | $42.1B | $42.1B | $43.5B | $42.6B |
| P/E Ratio → | 19.33 | 18.61 | 18.58 | 25.26 | 18.88 | 8.77 | 15.83 | 20.34 | 17.54 | 36.36 | 47.67 |
| P/S Ratio | 5.76 | 5.84 | 5.77 | 7.61 | 6.73 | 4.41 | 6.54 | 6.56 | 6.39 | 7.42 | 8.78 |
| P/B Ratio | 2.79 | 2.68 | 2.79 | 3.84 | 3.61 | 3.78 | 5.04 | 3.88 | 4.90 | 7.09 | 9.60 |
| P/FCF | 20.24 | 20.54 | 22.37 | 27.23 | 18.51 | 10.85 | 27.75 | 21.51 | 23.66 | 42.12 | 43.83 |
| P/OCF | 16.59 | 16.84 | 18.55 | 21.74 | 16.33 | 10.01 | 21.24 | 17.71 | 19.53 | 33.34 | 28.73 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.82 | 5.79 | 7.61 | 6.69 | 4.40 | 6.60 | 6.42 | 6.28 | 7.40 | 8.77 |
| EV / EBITDA | 19.94 | 20.24 | 18.38 | 20.93 | 14.23 | 7.65 | 14.72 | 17.41 | 15.70 | 19.54 | 29.70 |
| EV / EBIT | 22.97 | 15.81 | 17.00 | 23.37 | 16.57 | 7.53 | 14.51 | 17.13 | 16.31 | 20.66 | 31.89 |
| EV / FCF | — | 20.44 | 22.43 | 27.22 | 18.42 | 10.82 | 28.00 | 21.06 | 23.24 | 42.02 | 43.78 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.4% | 85.4% | 86.1% | 82.9% | 86.0% | 83.1% | 84.0% | 85.1% | 91.3% | 90.8% | 91.7% |
| Operating Margin | 24.9% | 24.9% | 28.1% | 33.2% | 44.2% | 55.7% | 42.1% | 33.7% | 37.8% | 35.4% | 27.4% |
| Net Profit Margin | 31.4% | 31.4% | 31.1% | 30.1% | 35.6% | 50.2% | 41.3% | 32.3% | 36.4% | 20.4% | 18.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.9% | 14.9% | 16.0% | 16.3% | 20.9% | 54.2% | 31.8% | 21.3% | 32.8% | 22.6% | 22.1% |
| ROA | 11.5% | 11.5% | 12.5% | 12.7% | 15.9% | 37.9% | 22.0% | 15.9% | 23.8% | 15.2% | 14.2% |
| ROIC | 8.9% | 8.9% | 10.8% | 13.5% | 19.8% | 44.6% | 24.7% | 18.2% | 27.1% | 29.9% | 26.2% |
| ROCE | 10.2% | 10.2% | 12.6% | 15.6% | 22.6% | 49.7% | 26.3% | 19.2% | 28.3% | 31.1% | 25.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.09 | 0.10 | 0.12 | 0.14 | 0.24 | 0.06 | 0.08 | 0.11 | 0.11 |
| Debt / EBITDA | 0.66 | 0.66 | 0.60 | 0.57 | 0.47 | 0.29 | 0.71 | 0.29 | 0.26 | 0.32 | 0.34 |
| Net Debt / Equity | — | -0.01 | 0.01 | -0.00 | -0.02 | -0.01 | 0.05 | -0.08 | -0.09 | -0.02 | -0.01 |
| Net Debt / EBITDA | -0.10 | -0.10 | 0.05 | -0.01 | -0.07 | -0.02 | 0.13 | -0.37 | -0.28 | -0.05 | -0.04 |
| Debt / FCF | — | -0.10 | 0.06 | -0.01 | -0.09 | -0.03 | 0.25 | -0.45 | -0.42 | -0.11 | -0.06 |
| Interest Coverage | 120.42 | 120.42 | 87.59 | 58.52 | 82.80 | 163.75 | 67.97 | 81.43 | 91.55 | 83.75 | 185.82 |
Net cash position: cash ($3.1B) exceeds total debt ($2.7B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.13 | 4.13 | 4.73 | 5.69 | 5.06 | 3.56 | 3.63 | 3.67 | 5.52 | 4.93 | 3.15 |
| Quick Ratio | 3.39 | 3.39 | 3.95 | 4.94 | 4.29 | 3.07 | 2.91 | 2.99 | 4.72 | 4.29 | 2.83 |
| Cash Ratio | 1.97 | 1.97 | 2.28 | 3.17 | 2.46 | 1.45 | 1.33 | 1.53 | 1.95 | 1.24 | 0.84 |
| Asset Turnover | — | 0.35 | 0.38 | 0.40 | 0.42 | 0.63 | 0.50 | 0.44 | 0.57 | 0.67 | 0.70 |
| Inventory Turnover | 0.66 | 0.66 | 0.64 | 0.87 | 0.71 | 1.40 | 0.71 | 0.69 | 0.51 | 0.75 | 1.01 |
| Days Sales Outstanding | — | 146.10 | 159.65 | 157.70 | 159.78 | 137.09 | 176.75 | 155.05 | 122.01 | 122.72 | 121.03 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.4% | 0.4% | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 8.2% | 8.2% | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 5.4% | 5.4% | 4.0% | 5.3% | 11.4% | 6.3% | 4.9% | 5.7% | 2.8% | 2.1% |
| FCF Yield | 4.9% | 4.9% | 4.5% | 3.7% | 5.4% | 9.2% | 3.6% | 4.6% | 4.2% | 2.4% | 2.3% |
| Buyback Yield | 4.8% | 4.7% | 4.4% | 2.2% | 3.1% | 3.8% | 11.7% | 1.1% | 0.4% | 0.7% | 0.3% |
| Total Shareholder Yield | 5.2% | 5.2% | 4.4% | 2.2% | 3.1% | 3.8% | 11.7% | 1.1% | 0.4% | 0.7% | 0.3% |
| Shares Outstanding | — | $109M | $115M | $114M | $114M | $112M | $115M | $115M | $115M | $116M | $116M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying REGN stock.
Regeneron Pharmaceuticals, Inc.'s current P/E ratio is 19.3x. The historical average is 38.4x. This places it at the 47th percentile of its historical range.
Regeneron Pharmaceuticals, Inc.'s current EV/EBITDA is 19.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.8x.
Regeneron Pharmaceuticals, Inc.'s return on equity (ROE) is 14.9%. The historical average is -3.0%.
Based on historical data, Regeneron Pharmaceuticals, Inc. is trading at a P/E of 19.3x. This is at the 47th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Regeneron Pharmaceuticals, Inc.'s current dividend yield is 0.43% with a payout ratio of 8.2%.
Regeneron Pharmaceuticals, Inc. has 85.4% gross margin and 24.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Regeneron Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Eylea competition and pipeline dependence
Metrics are mathematically derived from official filings.
Margin Compression Amid Competitive Pressure
Gross margin slipped from 86.8% in 2024Q3 to 81.2% in 2026Q2, a 560 basis point decline, while operating margin fluctuated between 17.8% and 30.1%, according to quarterly financials.
The gross margin erosion suggests pricing concessions or a shift in product mix, likely reflecting competitive dynamics around Eylea. Operating margin volatility, with 2026Q1 at 17.8%, indicates that cost control is challenged by rising R&D intensity, which now consumes roughly 40% of revenue. Net margin swings, from 20.2% to 38.9%, are amplified by non-recurring items, so operating margin may better reflect underlying earning power.
Return on Capital Decelerates from Cyclical Peak
ROIC fell from 3.0% in 2024Q3 to 1.6% in 2026Q1, then recovered to 6.2% in 2026Q2, based on reported figures, indicating volatile capital efficiency.
The quarterly ROIC figures are distorted by timing effects, but the trend suggests that returns on invested capital are not compounding steadily. The 2026Q2 ROIC of 6.2% is still below the 2024Q3 level, implying that margin pressure and rising capital intensity are weighing on returns. Investors should monitor whether ROIC can sustain above the cost of capital as the asset base expands.
Working Capital Cycle Lengthens Sharply
Cash conversion cycle ballooned from 542 days in 2024Q4 to 639 days in 2025Q1, then compressed to 178 days in 2026Q2, according to SEC filings, reflecting extreme volatility.
The dramatic swings in CCC are driven by inventory build-up (DIO peaked at 609 days) and receivable timing (DSO ranged from 61 to 175 days). The 2026Q2 improvement to 178 days suggests a normalization, but the high DIO indicates potential overstocking or slow-moving inventory. Asset turnover remains low at 0.21, typical for biotech, but the working capital swings distort quarterly efficiency metrics.
Minimal Debt Masks Comfortable Coverage
Debt-to-equity held steady at 0.09, with interest coverage above 65x in all quarters, based on reported figures, indicating a conservative capital structure.
Total debt has remained flat at $2.7B, and the D/EBITDA ratio has stayed below 3.8x, suggesting no refinancing pressure. Interest coverage of 99.3x in 2026Q2 is exceptionally strong, implying that debt service is not a constraint. However, the flat debt level may indicate that the company is funding growth through retained earnings and cash, which is consistent with a healthy balance sheet.
Liquidity Buffer Remains Robust but Declining
Current ratio fell from 5.27 in 2024Q1 to 3.34 in 2026Q2, while quick ratio declined to 2.78, according to financial statements, still providing a solid cushion.
The decline in liquidity ratios reflects a drawdown of cash and equivalents, which stood at $2.5B, but the current ratio remains well above 1.0, indicating ample short-term solvency. The quick ratio of 2.78 suggests that inventory is not a major liquidity concern, as receivables and cash cover current liabilities. Under severe stress, the company could likely meet obligations without asset sales, given the low debt load.
P/E Misleads on Growth Prospects
The trailing P/E of 19.48 appears reasonable, but the forward P/E of 15.35 implies expected earnings growth that may not materialize, based on reported multiples.
The PEG ratio of 3.08 suggests that the market is pricing in high growth, yet revenue growth has decelerated to low-single digits, and margins are compressing. The EV/EBITDA forward multiple of 11.33 is lower than the trailing 20.10, indicating that analysts expect EBITDA to rise, but this may be overly optimistic given competitive pressures. Investors should focus on EV/EBITDA and cash flow metrics rather than P/E, which can be distorted by one-time items and tax effects.