Regeneron Pharmaceuticals (REGN) FY2013 results: revenue $2.1 billion, up 52.7% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $2.1 billion for fiscal 2013, the year ended 31 December 2013, up 52.7% on the year before. Net income was $414 million, down 44.9%, and diluted earnings per share $3.72. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2014.
Revenue
$2.1 billion
+52.7% on the year
FY2008FY2013
Operating margin
35.3%
33.2% a year earlier
FY2008FY2013
Net income
$414 million
-44.9% on the year
FY2008FY2013
Diluted EPS
$3.72
-44.9% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
2,105
1,378
446
+52.7%
Cost of revenue
118
83.9
4.2
+40.7%
Gross profit
1,987
1,295
442
+53.5%
Gross margin
94.4%
93.9%
99.1%
Research and development
860
626
530
+37.5%
Selling, general and administrative
346
211
117
+64.4%
Operating income
743
458
-205
+62.3%
Operating margin
35.3%
33.2%
-46.0%
Interest expense
46.4
45.3
21.3
+2.5%
Pre-tax income
696
414
-223
+68.0%
Income tax
283
-336
-1.1
Effective tax rate
40.6%
-81.0%
n/a
Net income
414
750
-222
-44.9%
Net margin
19.7%
54.4%
-49.7%
Diluted EPS
$3.72
$6.75
-$2.45
-44.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
589
-74.6
-142
Capital expenditure
156
49.3
57.2
+216.8%
Free cash flow
432
-124
-199
Free cash flow margin
20.5%
-9.0%
-44.6%
Cash from investing
-355
-81.1
128
Cash from financing
72.2
-97.6
384
Depreciation and amortisation
41.2
36.9
31.1
+11.5%
Share-based compensation
215
94.2
56.1
+128.7%
Diluted shares, weighted
111m
115m
91m
-3.5%
Shares outstanding at period end
n/a
n/a
91m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,965
1,257
486
+56.3%
Debt
320
297
275
+8.0%
Other liabilities
666
527
563
+26.3%
Total liabilities and equity
2,951
2,080
1,324
+41.8%
Fixed assets
527
380
368
+38.7%
Investments
548
349
319
+57.1%
Cash and equivalents
536
230
484
+132.6%
Receivables
787
593
28.3
+32.7%
Inventory
70.4
28.6
16.6
+145.7%
Other assets
483
499
108
-3.3%
Total assets
2,951
2,080
1,324
+41.8%
10-K for the year ended 31 December 2013, filed 13 February 2014: the filing.