Regeneron Pharmaceuticals, Inc. (REGN)

Regeneron Pharmaceuticals Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	4,817	4,505	4,413	3,954	4,338	8,075
Depreciation & Amortization	512.9	543.7	482.9	421	341.4	286.2
Asset Writedown & Restructuring Costs	-	-	-	-	195	-
Loss (Gain) From Sale of Investments	-125.7	-946.1	-118.3	266.4	36.8	-387
Stock-Based Compensation	1,006	993.7	982.8	885	725	601.7
Other Operating Activities	-366.7	-649.9	-721.2	-837.9	-378.4	421.6
Change in Accounts Receivable	-1,902	498.1	-554	-338.8	707.8	-1,927
Change in Inventory	112.8	-275.3	-619.7	-271.7	-696.5	-494.3
Change in Accounts Payable	1,360	736.8	735.1	598.6	-138.4	866.1
Change in Unearned Revenue	205.2	-51.7	227.8	37.9	32.4	-120.2
Change in Other Net Operating Assets	-773.9	-375.3	-407.5	-120.1	-148.6	-240.7
Operating Cash Flow	4,846	4,979	4,421	4,594	5,015	7,081
Operating Cash Flow Growth	-4.44%	12.63%	-3.78%	-8.39%	-29.18%	170.47%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-1,020	-898.4	-755.9	-718.6	-590.1	-551.9
Sale of Property, Plant & Equipment	-	-	20.1	-	-	-
Cash Acquisitions	-0.3	-3.3	-16.5	-54.9	-230.3	-
Sale (Purchase) of Intangibles	-198.2	-315.3	-125.7	-207.8	-1,027	-
Investment in Securities	628.8	587.9	-1,590	-2,204	-1,937	-4,833
Investing Cash Flow	-589.4	-629.1	-2,468	-3,185	-3,785	-5,385

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Issuance of Common Stock	1,017	635.9	1,465	1,146	1,520	1,672
Repurchase of Common Stock	-3,731	-3,971	-3,632	-2,936	-2,529	-2,678
Common Dividends Paid	-383	-370.3	-	-	-	-
Other Financing Activities	-	-10.3	-33.4	-	-	-
Financing Cash Flow	-3,097	-3,715	-2,201	-1,790	-1,009	-1,006

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-1	0.3	-0.7	-0.4	-	-
Net Cash Flow	1,159	634.7	-248.8	-381.6	221.3	690.8

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	3,826	4,081	3,665	3,875	4,425	6,529
Free Cash Flow Growth	-9.37%	11.35%	-5.44%	-12.42%	-32.23%	225.90%
Free Cash Flow Margin	22.65%	28.45%	25.80%	29.54%	36.35%	40.63%
Free Cash Flow Per Share	35.88	37.57	31.84	34.08	38.98	58.19
Levered Free Cash Flow	2,580	3,258	2,636	2,763	2,628	4,309
Unlevered Free Cash Flow	2,609	3,286	2,670	2,808	2,665	4,345

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	41.6	41.6	52.6	73.1	53.7	55.8
Cash Income Tax Paid	1,253	1,253	743	870.3	1,502	1,218
Change in Working Capital	-997.4	532.6	-618.3	-94.1	-243.3	-1,917

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Oct 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 11, 2026

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