Regeneron Pharmaceuticals, Inc. (REGN) Income Statement
REGN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsREGN revenue and net income
Where REGN's revenue goes
2025Each bar shows an amount and its share of revenue. REGN kept 31.4% of revenue as net income.
REGN profit margins
REGN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.0% | +5.6% | +11.0% | +13.3% |
| Gross profit | +0.1% | +5.4% | +11.4% | +12.7% |
| Operating income | −10.3% | −12.7% | +0.0% | +11.1% |
| Net income | +2.1% | +1.3% | +5.1% | +21.6% |
| EPS (diluted) | −2.8% | −0.4% | +7.0% | +13.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
REGN quarterly EPS vs estimates
Regeneron beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 30, 2026 (estimate $13.58).
REGN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.34B | $14.20B | $13.12B | $12.17B | $16.07B | $8.50B | $7.86B | $6.71B | $5.87B | $4.86B |
| Cost of revenue | $2.10B | $1.97B | $883.7M | $1.71B | $2.72B | $1.36B | $782.2M | $434.1M | $397.1M | $299.7M |
| Gross profit | $12.24B | $12.23B | $12.23B | $10.47B | $13.35B | $7.14B | $7.08B | $6.28B | $5.48B | $4.56B |
| Research & development | $5.85B | $5.23B | $4.44B | $3.06B | $2.62B | $2.50B | $3.04B | $2.19B | $2.08B | $2.05B |
| Sales, general & admin | $2.70B | $2.95B | $2.55B | $2.12B | $1.82B | $1.35B | $1.83B | $1.56B | $1.32B | $1.18B |
| Total operating expenses | $8.66B | $8.24B | $7.07B | $5.08B | $4.40B | $3.56B | $4.87B | $3.74B | $3.40B | $3.23B |
| Operating income | $3.58B | $3.99B | $4.05B | $5.39B | $8.95B | $3.58B | $2.21B | $2.53B | $2.08B | $1.33B |
| Interest income | $716.8M | $711.4M | $417.7M | $160.1M | $45.8M | — | $88.1M | $13.7M | $25.1M | $7.2M |
| Interest expense | $43.8M | $55.2M | $73.0M | $59.4M | $57.3M | $56.9M | $30.2M | $28.2M | $25.1M | $7.2M |
| Income before taxes | $5.23B | $4.78B | $4.20B | $4.86B | $9.33B | $3.81B | $2.43B | $2.55B | $2.08B | $1.33B |
| Income taxes | $725.8M | $367.3M | $245.7M | $520.4M | $1.25B | $297.2M | $313.3M | $109.1M | $880.0M | $434.3M |
| Net income | $4.50B | $4.41B | $3.95B | $4.34B | $8.08B | $3.51B | $2.12B | $2.44B | $1.20B | $895.5M |
| EBITDA | $5.82B | $5.32B | $4.05B | $5.26B | $9.67B | $4.10B | $2.42B | $2.68B | $2.23B | $1.44B |
| EPS (diluted) | $44.38 | $45.64 | $43.78 | $44.96 | $74.78 | $31.65 | $24.64 | $22.83 | $16.31 | $11.56 |
| Gross margin | 85.4% | 86.1% | 93.3% | 86.0% | 83.1% | 84.0% | 90.1% | 93.5% | 93.2% | 93.8% |
| Operating margin | 24.9% | 28.1% | 30.9% | 44.2% | 55.7% | 42.1% | 28.1% | 37.8% | 35.4% | 27.4% |
| Net margin | 31.4% | 31.1% | 30.1% | 35.6% | 50.2% | 41.3% | 26.9% | 36.4% | 20.4% | 18.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.29B | $3.61B | $3.88B | $3.75B | $3.68B | $3.03B | $3.79B | $3.72B | $3.55B | $3.15B | $3.43B | $3.36B |
| Cost of revenue | $576.5M | $669.4M | $584.6M | $521.6M | $530.2M | $464.3M | $565.4M | $491.1M | $480.2M | $433.8M | $629.1M | $541.8M |
| Gross profit | $3.71B | $2.94B | $3.30B | $3.23B | $3.15B | $2.56B | $3.22B | $3.23B | $3.07B | $2.71B | $2.81B | $2.82B |
| Research & development | $1.63B | $1.65B | $1.63B | $1.56B | $1.43B | $1.34B | $1.43B | $1.33B | $1.22B | $1.26B | $1.05B | $969.9M |
| Sales, general & admin | $662.1M | $647.7M | $775.0M | $657.8M | $634.2M | $633.0M | $792.2M | $714.4M | $758.8M | $689.0M | $737.7M | $640.5M |
| Total operating expenses | $2.29B | $2.29B | $2.42B | $2.21B | $2.07B | $1.97B | $2.23B | $2.05B | $2.00B | $1.96B | $1.75B | $1.61B |
| Operating income | $1.42B | $642.9M | $879.9M | $1.03B | $1.08B | $591.7M | $990.2M | $1.18B | $1.07B | $751.4M | $1.05B | $1.21B |
| Interest income | $183.3M | $183.5M | $193.3M | $175.1M | $174.8M | $173.5M | $183.1M | $187.4M | $179.4M | $161.5M | $148.7M | $133.7M |
| Interest expense | $11.0M | $12.9M | $12.2M | $19.3M | $3.6M | $8.7M | $10.5M | $13.8M | $14.8M | $16.1M | $18.3M | $17.8M |
| Income before taxes | $1.53B | $831.2M | $1.04B | $1.76B | $1.52B | $905.0M | $958.1M | $1.49B | $1.63B | $700.7M | $1.15B | $1.11B |
| Income taxes | $230.9M | $104.0M | $199.1M | $303.3M | $127.1M | $96.3M | $40.4M | $152.4M | $195.8M | −$21.3M | −$12.0M | $103.0M |
| Net income | $1.30B | $727.2M | $844.6M | $1.46B | $1.39B | $808.7M | $917.7M | $1.34B | $1.43B | $722.0M | $1.16B | $1.01B |
| EBITDA | $1.66B | $967.3M | $1.20B | $1.92B | $1.66B | $1.04B | $1.09B | $1.63B | $1.76B | $830.9M | $1.28B | $1.23B |
| EPS (diluted) | $12.53 | $9.47 | $11.44 | $11.83 | $12.89 | $8.22 | $12.07 | $12.46 | $11.56 | $9.55 | $11.86 | $11.59 |
| Gross margin | 86.6% | 81.4% | 84.9% | 86.1% | 85.6% | 84.7% | 85.1% | 86.8% | 86.5% | 86.2% | 81.7% | 83.9% |
| Operating margin | 33.1% | 17.8% | 22.7% | 27.3% | 29.4% | 19.5% | 26.1% | 31.7% | 30.2% | 23.9% | 30.6% | 36.0% |
| Net margin | 30.2% | 20.2% | 21.7% | 38.9% | 37.9% | 26.7% | 24.2% | 36.0% | 40.4% | 23.0% | 33.8% | 30.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in REGN's financial statements (latest annual report filed February 4, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
REGN financial results
In fiscal year 2025 (ended December 31, 2025), Regeneron reported revenue of $14.3 billion, up 1.0% from the year before. It had net income of $4.5 billion (up 2.1%), a net profit margin of 31.4%. Diluted earnings per share came to $44.38. Over five years revenue grew at an average rate of 11.0% a year.
See the REGN stock overview for the latest quote and news, or the REGN chart for price history and technical indicators.
REGN income statement FAQ
What is Regeneron's annual revenue?
Regeneron reported total revenue of $14.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.0% from $14.2 billion the previous year.
Is Regeneron profitable?
Yes. Regeneron reported net income of $4.5 billion in fiscal 2025, a net profit margin of 31.4%; its operating margin was 24.9%.
What is Regeneron's gross margin?
Regeneron's gross margin was 85.4% in fiscal 2025: for every $100 of revenue, Regeneron kept $85 after the direct cost of its products and services.
How much does Regeneron spend on research and development?
Regeneron spent $5.9 billion on research and development in fiscal 2025, 40.8% of revenue.
How fast is Regeneron growing?
Revenue grew 11.0% a year on average over the last five fiscal years, from $8.5 billion to $14.3 billion.
What are Regeneron's earnings per share?
Regeneron earned $44.38 per diluted share in fiscal 2025, compared with $45.64 a year earlier.
When will Regeneron report its next earnings?
Regeneron is expected to report results for the quarter ending September 30, 2026 on October 30, 2026 before the market opens.
When does Regeneron's fiscal year end?
Regeneron's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 4, 2026.