Regeneron Pharmaceuticals (REGN) FY2016 results: revenue $4.9 billion, up 18.4% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $4.9 billion for fiscal 2016, the year ended 31 December 2016, up 18.4% on the year before. Net income was $896 million, up 40.8%, and diluted earnings per share $7.70. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2017.
Revenue
$4.9 billion
+18.4% on the year
FY2009FY2016
Operating margin
27.4%
30.5% a year earlier
FY2009FY2016
Net income
$896 million
+40.8% on the year
FY2009FY2016
Diluted EPS
$7.70
+39.5% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
4,860
4,104
2,820
+18.4%
Cost of revenue
195
242
129
-19.5%
Gross profit
4,666
3,862
2,691
+20.8%
Gross margin
96.0%
94.1%
95.4%
Research and development
2,052
1,621
1,271
+26.6%
Selling, general and administrative
1,178
839
519
+40.4%
Operating income
1,331
1,252
824
+6.3%
Operating margin
27.4%
30.5%
29.2%
Interest expense
7.2
14.2
37.4
-49.4%
Pre-tax income
1,330
1,225
761
+8.5%
Income tax
434
589
423
-26.3%
Effective tax rate
32.7%
48.1%
55.6%
Net income
896
636
338
+40.8%
Net margin
18.4%
15.5%
12.0%
Diluted EPS
$7.70
$5.52
$2.98
+39.5%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,486
1,331
752
+11.7%
Capital expenditure
512
678
333
-24.5%
Free cash flow
974
653
419
+49.2%
Free cash flow margin
20.0%
15.9%
14.9%
Cash from investing
-1,047
-908
-421
Cash from financing
-700
-263
-219
Depreciation and amortisation
105
74.9
52.7
+39.8%
Share-based compensation
560
459
322
+22.0%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
116m
115m
113m
+1.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,449
3,655
2,550
+21.7%
Debt
0.0
0.0
147
Other liabilities
2,524
1,954
1,141
+29.2%
Total liabilities and equity
6,973
5,609
3,838
+24.3%
Fixed assets
2,083
1,594
974
+30.7%
Investments
1,368
868
712
+57.5%
Cash and equivalents
535
809
649
-33.9%
Receivables
1,343
1,152
739
+16.6%
Inventory
399
239
129
+67.4%
Other assets
1,244
947
634
+31.5%
Total assets
6,973
5,609
3,838
+24.3%
10-K for the year ended 31 December 2016, filed 9 February 2017: the filing.