Regeneron Pharmaceuticals (REGN) FY2023 results: revenue $13.1 billion, up 7.8% on the year
Regeneron Pharmaceuticals, Inc. (REGN) reported revenue of $13.1 billion for fiscal 2023, the year ended 31 December 2023, up 7.8% on the year before. Net income was $4.0 billion, down 8.9%, and diluted earnings per share $34.77. The figures are the company's own, from the 10-K it filed with the SEC on 5 February 2024.
Revenue
$13.1 billion
+7.8% on the year
FY2016FY2023
Operating margin
30.9%
38.9% a year earlier
FY2016FY2023
Net income
$4.0 billion
-8.9% on the year
FY2016FY2023
Diluted EPS
$34.77
-9.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,594
5,015
7,081
-8.4%
Capital expenditure
719
590
552
+21.8%
Free cash flow
3,875
4,425
6,529
-12.4%
Free cash flow margin
29.5%
36.3%
40.6%
Cash from investing
-3,185
-3,785
-5,385
Cash from financing
-1,790
-1,009
-1,006
Depreciation and amortisation
421
341
286
+23.3%
Share-based compensation
885
725
602
+22.1%
Buybacks
2,235
2,083
1,645
+7.3%
Dividends paid
0.0
n/a
n/a
Diluted shares, weighted
114m
114m
112m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,973
22,664
18,769
+14.6%
Debt
1,983
1,981
1,980
+0.1%
Operating lease liabilities
68.7
55.8
n/a
+23.1%
Finance lease liabilities
720
720
0.0
0.0%
Other liabilities
4,336
3,793
4,686
+14.3%
Total liabilities and equity
33,080
29,214
25,435
+13.2%
Fixed assets
n/a
n/a
3,482
Intangible assets
1,039
916
6.7
+13.4%
Investments
13,511
11,228
9,647
+20.3%
Cash and equivalents
2,730
3,106
2,886
-12.1%
Receivables
5,667
5,329
6,036
+6.4%
Inventory
2,580
2,402
1,951
+7.4%
Other assets
7,552
6,234
1,425
+21.1%
Total assets
33,080
29,214
25,435
+13.2%
10-K for the year ended 31 December 2023, filed 5 February 2024: the filing.