Regeneron Pharmaceuticals (REGN) FY2018 results: revenue $5.1 billion, down 12.4% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $5.1 billion for fiscal 2018, the year ended 31 December 2018, down 12.4% on the year before. Net income was $2.4 billion, up 104.0%, and diluted earnings per share $21.29. The figures are the company's own, from the 10-K it filed with the SEC on 7 February 2019.
Revenue
$5.1 billion
-12.4% on the year
FY2011FY2018
Operating margin
49.3%
35.4% a year earlier
FY2011FY2018
Net income
$2.4 billion
+104.0% on the year
FY2011FY2018
Diluted EPS
$21.29
+105.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
5,146
5,872
4,860
-12.4%
Cost of revenue
238
203
195
+17.3%
Gross profit
4,908
5,670
4,666
-13.4%
Gross margin
95.4%
96.6%
96.0%
Research and development
1,469
2,075
2,052
-29.2%
Selling, general and administrative
1,127
1,320
1,178
-14.6%
Operating income
2,534
2,080
1,331
+21.9%
Operating margin
49.3%
35.4%
27.4%
Interest expense
28.2
25.1
7.2
+12.4%
Pre-tax income
2,554
2,079
1,330
+22.9%
Income tax
109
880
434
-87.6%
Effective tax rate
4.3%
42.3%
32.7%
Net income
2,444
1,199
896
+104.0%
Net margin
47.5%
20.4%
18.4%
Diluted EPS
$21.29
$10.34
$7.70
+105.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,195
1,307
1,486
+67.9%
Capital expenditure
383
273
512
+40.5%
Free cash flow
1,812
1,034
974
+75.2%
Free cash flow margin
35.2%
17.6%
20.0%
Cash from investing
-1,463
-1,005
-1,047
Cash from financing
-77.1
-24.4
-700
Depreciation and amortisation
148
145
105
+1.9%
Share-based compensation
427
507
560
-15.7%
Buybacks
4.4
0.0
0.0
Diluted shares, weighted
115m
116m
116m
-1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
8,757
6,144
4,449
+42.5%
Debt
0.0
0.0
0.0
Other liabilities
2,977
2,620
2,524
+13.6%
Total liabilities and equity
11,734
8,764
6,973
+33.9%
Fixed assets
2,576
2,359
2,083
+9.2%
Investments
3,097
2,083
1,368
+48.7%
Cash and equivalents
1,468
813
535
+80.6%
Receivables
1,724
1,539
1,343
+12.0%
Inventory
1,151
726
399
+58.5%
Other assets
1,719
1,245
1,244
+38.1%
Total assets
11,734
8,764
6,973
+33.9%
10-K for the year ended 31 December 2018, filed 7 February 2019: the filing.