Regeneron Pharmaceuticals Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	4,505	4,413	3,954	4,338	8,075
Depreciation & Amortization	543.7	482.9	421	341.4	286.2
Asset Writedown & Restructuring Costs	-	-	-	195	-
Loss (Gain) From Sale of Investments	-946.1	-118.3	266.4	36.8	-387
Stock-Based Compensation	993.7	982.8	885	725	601.7
Other Operating Activities	-649.9	-721.2	-837.9	-378.4	421.6
Change in Accounts Receivable	498.1	-554	-338.8	707.8	-1,927
Change in Inventory	-275.3	-619.7	-271.7	-696.5	-494.3
Change in Accounts Payable	736.8	735.1	598.6	-138.4	866.1
Change in Unearned Revenue	-51.7	227.8	37.9	32.4	-120.2
Change in Other Net Operating Assets	-375.3	-407.5	-120.1	-148.6	-240.7
Operating Cash Flow	4,979	4,421	4,594	5,015	7,081
Operating Cash Flow Growth	12.63%	-3.78%	-8.39%	-29.18%	170.47%
Capital Expenditures	-898.4	-755.9	-718.6	-590.1	-551.9
Sale of Property, Plant & Equipment	-	20.1	-	-	-
Cash Acquisitions	-3.3	-16.5	-54.9	-230.3	-
Sale (Purchase) of Intangibles	-315.3	-125.7	-207.8	-1,027	-
Investment in Securities	587.9	-1,590	-2,204	-1,937	-4,833
Investing Cash Flow	-629.1	-2,468	-3,185	-3,785	-5,385
Issuance of Common Stock	635.9	1,465	1,146	1,520	1,672
Repurchase of Common Stock	-3,971	-3,632	-2,936	-2,529	-2,678
Common Dividends Paid	-370.3	-	-	-	-
Other Financing Activities	-10.3	-33.4	-	-	-
Financing Cash Flow	-3,715	-2,201	-1,790	-1,009	-1,006
Foreign Exchange Rate Adjustments	0.3	-0.7	-0.4	-	-
Net Cash Flow	634.7	-248.8	-381.6	221.3	690.8
Free Cash Flow	4,081	3,665	3,875	4,425	6,529
Free Cash Flow Growth	11.35%	-5.44%	-12.42%	-32.23%	225.90%
Free Cash Flow Margin	28.45%	25.80%	29.54%	36.35%	40.63%
Free Cash Flow Per Share	37.57	31.84	34.08	38.98	58.19
Cash Interest Paid	41.6	52.6	73.1	53.7	55.8
Cash Income Tax Paid	-	743	870.3	1,502	1,218
Levered Free Cash Flow	3,258	2,636	2,763	2,628	4,309
Unlevered Free Cash Flow	3,286	2,670	2,808	2,665	4,345
Change in Working Capital	532.6	-618.3	-94.1	-243.3	-1,917

Source: S&P Global Market Intelligence. Standard template. Financial Sources.