Regeneron Pharmaceuticals (REGN) FY2017 results: revenue $5.9 billion, up 20.8% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $5.9 billion for fiscal 2017, the year ended 31 December 2017, up 20.8% on the year before. Net income was $1.2 billion, up 33.8%, and diluted earnings per share $10.34. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2018.
Revenue
$5.9 billion
+20.8% on the year
FY2010FY2017
Operating margin
35.4%
27.4% a year earlier
FY2010FY2017
Net income
$1.2 billion
+33.8% on the year
FY2010FY2017
Diluted EPS
$10.34
+34.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
5,872
4,860
4,104
+20.8%
Cost of revenue
203
195
242
+4.1%
Gross profit
5,670
4,666
3,862
+21.5%
Gross margin
96.6%
96.0%
94.1%
Research and development
2,075
2,052
1,621
+1.1%
Selling, general and administrative
1,320
1,178
839
+12.1%
Operating income
2,080
1,331
1,252
+56.3%
Operating margin
35.4%
27.4%
30.5%
Interest expense
25.1
7.2
14.2
+248.6%
Pre-tax income
2,079
1,330
1,225
+56.3%
Income tax
880
434
589
+102.6%
Effective tax rate
42.3%
32.7%
48.1%
Net income
1,199
896
636
+33.8%
Net margin
20.4%
18.4%
15.5%
Diluted EPS
$10.34
$7.70
$5.52
+34.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
1,307
1,486
1,331
-12.0%
Capital expenditure
273
512
678
-46.7%
Free cash flow
1,034
974
653
+6.2%
Free cash flow margin
17.6%
20.0%
15.9%
Cash from investing
-1,005
-1,047
-908
Cash from financing
-24.4
-700
-263
Depreciation and amortisation
145
105
74.9
+38.9%
Share-based compensation
507
560
459
-9.4%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
116m
116m
115m
-0.4%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
6,144
4,449
3,655
+38.1%
Debt
0.0
0.0
0.0
Other liabilities
2,620
2,524
1,954
+3.8%
Total liabilities and equity
8,764
6,973
5,609
+25.7%
Fixed assets
2,359
2,083
1,594
+13.2%
Investments
2,083
1,368
868
+52.3%
Cash and equivalents
813
535
809
+51.9%
Receivables
1,539
1,343
1,152
+14.5%
Inventory
726
399
239
+81.8%
Other assets
1,245
1,244
947
+0.0%
Total assets
8,764
6,973
5,609
+25.7%
10-K for the year ended 31 December 2017, filed 8 February 2018: the filing.