Regeneron Pharmaceuticals (REGN) FY2020 results: revenue $8.5 billion, up 29.6% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $8.5 billion for fiscal 2020, the year ended 31 December 2020, up 29.6% on the year before. Net income was $3.5 billion, up 66.0%, and diluted earnings per share $30.52. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2021.
Revenue
$8.5 billion
+29.6% on the year
FY2013FY2020
Operating margin
42.1%
33.7% a year earlier
FY2013FY2020
Net income
$3.5 billion
+66.0% on the year
FY2013FY2020
Diluted EPS
$30.52
+65.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
8,497
6,558
5,146
+29.6%
Cost of revenue
n/a
403
238
Gross profit
n/a
6,155
4,908
Gross margin
n/a
93.9%
95.4%
Research and development
2,647
2,450
1,469
+8.0%
Selling, general and administrative
1,346
1,342
1,127
+0.3%
Operating income
3,577
2,210
2,534
+61.9%
Operating margin
42.1%
33.7%
49.3%
Interest expense
56.9
30.2
28.2
+88.4%
Pre-tax income
3,810
2,429
2,554
+56.9%
Income tax
297
313
109
-5.1%
Effective tax rate
7.8%
12.9%
4.3%
Net income
3,513
2,116
2,444
+66.0%
Net margin
41.3%
32.3%
47.5%
Diluted EPS
$30.52
$18.46
$21.29
+65.3%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,618
2,430
2,195
+7.7%
Capital expenditure
615
430
383
+43.1%
Free cash flow
2,004
2,000
1,812
+0.2%
Free cash flow margin
23.6%
30.5%
35.2%
Cash from investing
-70.6
-2,028
-1,463
Cash from financing
-1,970
-252
-77.1
Depreciation and amortisation
236
210
148
+12.2%
Share-based compensation
432
464
427
-7.0%
Buybacks
5,847
276
4.4
+2,019.2%
Diluted shares, weighted
115m
115m
115m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
11,025
11,090
8,757
-0.6%
Short-term borrowings
n/a
0.0
n/a
Debt
1,978
0.0
0.0
Finance lease liabilities
717
714
n/a
+0.5%
Other liabilities
3,442
3,002
2,977
+14.7%
Total liabilities and equity
17,163
14,805
11,734
+15.9%
Fixed assets
3,222
2,890
2,576
+11.5%
Investments
4,529
4,853
3,097
-6.7%
Cash and equivalents
2,194
1,618
1,468
+35.6%
Receivables
4,115
2,100
1,724
+95.9%
Inventory
1,917
1,416
1,151
+35.4%
Other assets
1,188
1,928
1,719
-38.4%
Total assets
17,163
14,805
11,734
+15.9%
10-K for the year ended 31 December 2020, filed 8 February 2021: the filing.