Regeneron Pharmaceuticals, Inc. (REGN)财务
NASDAQ · Healthcare · Biotechnology · 员工15,410人 · CEO Leonard S. Schleifer
- 股价
- $927.89 +13.33%
- 市值
- $955亿
- 企业价值
- $946亿
- 最近财报
- Q3 '26 2026-10-30提交
- 下次财报
- 2027-01-28 EPS预期 $24.25
营收(TTM)$169亿+18.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)29.5%+3.7 百分点 对比去年同期营业利润 $49.9亿
净利润(TTM)$48.2亿+5.2% 对比去年同期税后,含营业外收益
自由现金流(TTM)$35.9亿-13.6% 对比去年同期资本支出 $10.2亿
稀释EPS(TTM)$45.26+8.4% 对比去年同期最近4个季度之和
净现金$65.9亿+14.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $955亿 EV $946亿
- 营收
- $169亿 过去12个月
- 营收增速
- +28% FY2026年一致预期
- 净利润率
- 28.5% 净利润 / 营收,TTM
- P/E
- 19.8× 预期 14.4×(FY2026)
- P/S
- 5.7× 股价 / 营收,TTM
- EV / EBITDA
- 15.1× TTM
- 自由现金流
- $35.9亿 过去12个月
- 净利润
- $48.2亿 过去12个月
- 营收预期
- $184亿 FY2026年一致预期
- 盈利
- 2027-01-28 营收预期 $57.5亿
- 股息
- $3.70 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-30):营收超预期11.6%,EPS 超预期21.6%营收$51.2亿,预期$45.8亿(+11.6%);EPS $20.07,预期$16.51(+21.6%)。
- 营收增长加速:同比36.3%Q3 '26营收$51.2亿,此前四个季度的平均值为9.8%。
- 营业利润率29.5%(TTM),较去年同期+3.7 百分点营收增长18.6%,营业利润增长35.3%。
- 税前利润的12.2%来自营业外收益税前利润$56.9亿,营业利润$49.9亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的6.0%(去年为6.4%)最近4个季度投入$10.2亿(同比+11.2%)。自由现金流$35.9亿,相当于净利润的74.5%。
- 股东回报$34.2亿 = 自由现金流的95.3%回购$30.4亿(去年为$37.4亿),股息$3.83亿,股权激励$10.1亿(TTM)。
- 稀释股数一年内减少1.5%Q3 '26稀释股数1.06亿,一年前为1.07亿。
- 净现金 $65.9亿现金 + 短期投资 $93亿,含租赁债务 $27.1亿;一年前净现金 $57.4亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $51.2亿 | $37.5亿 | +36.3% |
| 毛利率 | 88.8% | 86.1% | +2.7 百分点 |
| 营业利润 | $20.5亿 | $10.3亿 | +99.5% |
| 营业利润率 | 40.0% | 27.3% | +12.7 百分点 |
| 净利润 | $19.5亿 | $14.6亿 | +33.5% |
| 稀释EPS | $18.45 | $13.62 | +35.5% |
| 经营现金流 | $17.8亿 | $16.2亿 | +10.2% |
| 资本支出 | $3亿 | $2.01亿 | +49.1% |
| 自由现金流 | $14.8亿 | $14.2亿 | +4.6% |
| R&D | $18.2亿 | $15.6亿 | +16.6% |
| 股权激励费用 | $2.56亿 | $2.37亿 | +7.9% |
实际 vs 一致预期
2026-10-30| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $51.2亿 | $45.8亿 | +11.6% |
| EPS(一致预期口径) | $20.07 | $16.51 | +21.6% |
来自2026-10-30发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Collaboration Revenue | $30亿 | +52.4% | 58.7% | $93.3亿 | +33.9% | |
| Product | $18.1亿 | +13.7% | 35.3% | $66.6亿 | +0.3% | |
| Product and Service, Other | $3.1亿 | +56.4% | 6.1% | $9.13亿 | +41.9% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $11亿 | -1.1% | 87.7% | $63.2亿 | – | |
| Rest Of World | $1.54亿 | +5.5% | 12.3% | $8.15亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $46.1亿
- 资本支出
- -$10.2亿
- 股票回购
- -$30.4亿
- 股息
- -$3.83亿
- 收购
- -$30万
- 债务净发行
- $0
- 股权激励费用
- $10.1亿
- 自由现金流
- $35.9亿
- 股东回报 / FCF
- 95.3%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 19.8× | 17.0× | 8.3× – 23.7× |
| EV / EBITDA | 15.1× | 14.0× | 6.9× – 20.0× |
| EV / 营收 | 5.6× | 5.7× | 4.1× – 7.1× |
| 股价 / FCF | 26.6× | 18.8× | 10.2× – 25.6× |
| 股价 / 净资产 | 2.8× | 3.2× | 2.6× – 3.6× |
| FCF收益率 | 3.8% | 5.8% | 3.9% – 9.8% |
| 投入资本回报率 | 10.9% | 17.3% | 8.5% – 34.9% |
| 净资产收益率 | 15.1% | 21.4% | 14.4% – 43.0% |
分析师
一致目标价 $859.63 (-7.4%)
区间 $750.00 – $1,030.00 · 评级 Buy
强烈买入0
买入35
持有14
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $184亿 | +28.0% | $64.64 | +55.8% | 14.4× | 10 |
| FY2027 | $197亿 | +7.2% | $67.95 | +5.1% | 13.7× | 9 |
| FY2028 | $213亿 | +8.1% | $75.38 | +10.9% | 12.3× | 7 |
| FY2029 | $229亿 | +7.6% | $82.91 | +10.0% | 11.2× | 2 |
| FY2030 | $245亿 | +6.8% | $89.99 | +8.5% | 10.3× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Regeneron Pharmaceuticals, Inc.在近期10-Q / 10-K文件中标记的全部218项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $28.8亿2025-12-31 | $25.3亿 | +13.8% | $28.8亿 | $25.3亿 | +13.8% |
| Accounts Payable, Current | $11.4亿 | $9.04亿 | +26.2% | $9.39亿 | $7.9亿 | +18.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $75.8亿 | $56.9亿 | +33.3% | $57.4亿 | $62.1亿 | -7.6% |
| Accrued Liabilities and Other Liabilities | $35.9亿 | $29.8亿 | +20.7% | $28.8亿 | $25.3亿 | +13.8% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.98亿 | $6900万 | -386.2% | $7750万 | -$790万 | +1,081.0% |
| Additional Paid in Capital | $152亿 | $138亿 | +10.0% | $140亿 | $129亿 | +8.9% |
| Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities | -$1.65亿 | $1.59亿 | -204.2% | $4.74亿 | $790万 | +5,900.0% |
| Amortization of Intangible Assets | – | – | – | $1.79亿 | $1.29亿 | +38.7% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2.47亿 | $2.41亿 | +2.6% | $10亿 | $9.97亿 | +0.5% |
| Assets | $444亿 | $402亿 | +10.5% | $406亿 | $378亿 | +7.4% |
| Assets, Current | $208亿 | $180亿 | +15.7% | $180亿 | $187亿 | -3.4% |
| Assets, Fair Value Disclosure | $178亿 | – | – | $179亿 | $169亿 | +5.9% |
| Business Combination, Contingent Consideration, Liability | $1030万2025-12-31 | $5230万 | -80.3% | $1030万 | $5230万 | -80.3% |
| Capital Expenditures Incurred but Not yet Paid | $4160万 | $5080万 | -18.1% | $1.79亿 | $1.52亿 | +17.9% |
| Cash and Cash Equivalents, at Carrying Value | $36.6亿 | $25.1亿 | +46.0% | $31.2亿 | $24.9亿 | +25.3% |
| Cash and Cash Equivalents, Fair Value Disclosure | $26.4亿 | – | – | $21.2亿 | $14.5亿 | +46.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $36.7亿 | $25.1亿 | +46.1% | $31.2亿 | $24.9亿 | +25.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $12.1亿 | $4.98亿 | +142.3% | $6.35亿 | -$2.49亿 | +355.1% |
| Common Stock, Dividends, Per Share, Declared | $0.94 | $0.88 | +6.8% | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $17.9亿 | $14.8亿 | +21.0% | $45.9亿 | $44.9亿 | +2.3% |
| Contract with Customer, Liability, Current | $7.5亿 | $5.46亿 | +37.4% | $5.53亿 | $6.28亿 | -11.9% |
| Contract with Customer, Liability, Noncurrent | $2.2亿 | $2.19亿 | +0.5% | $2.09亿 | $1.86亿 | +12.4% |
| Costs and Expenses | $30.7亿 | $27.3亿 | +12.5% | $108亿 | $102亿 | +5.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $10.1亿 | $10.9亿 | -7.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $4.79亿 | $4310万 | +1,011.6% |
| Current Income Tax Expense (Benefit) | – | – | – | $15.1亿 | $11.2亿 | +34.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1980万 | -$1110万 | +278.4% |
| Debt Securities, Available-for-sale | $150亿 | $155亿 | -3.2% | $157亿 | $143亿 | +9.7% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $400万 | $9320万 | -95.7% | $9850万 | $3010万 | +227.2% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $1.68亿 | $600万 | +2,698.3% | $250万 | $3900万 | -93.6% |
| Debt Securities, Available-for-sale, Amortized Cost | $152亿 | $154亿 | -1.6% | $156亿 | $143亿 | +8.9% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $5.73亿2025-09-30 | $16.7亿 | -65.6% | $12.2亿2024-12-31 | $41.6亿 | -70.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $400万2025-09-30 | $2520万 | -84.1% | $1800万2024-12-31 | $1.07亿 | -83.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $139亿2025-09-30 | $123亿 | +12.6% | $122亿2024-12-31 | $78.5亿 | +55.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $200万2025-09-30 | $80万 | +150.0% | $2100万2024-12-31 | $900万 | +133.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $93.8亿 | $95.2亿 | -1.5% | $102亿 | $78亿 | +31.0% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $56.4亿 | $59.4亿 | -5.0% | $54.9亿 | $65.2亿 | -15.9% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $145亿2025-09-30 | $140亿 | +3.3% | $134亿2024-12-31 | $120亿 | +11.5% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $600万2025-09-30 | $2600万 | -76.9% | $3900万2024-12-31 | $1.16亿 | -66.3% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$8.45亿 | -$9.36亿 | +9.7% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $7530万 | $1.83亿 | -58.9% |
| Deferred Income Tax Assets, Net | $45.4亿 | $38.5亿 | +17.9% | $40.8亿 | $33.1亿 | +23.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$7.85亿 | -$7.57亿 | -3.7% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1550万 | -$490万 | -216.3% |
| Deferred Tax Assets, Gross | $40.8亿2025-12-31 | $34.1亿 | +19.7% | $40.8亿 | $34.1亿 | +19.7% |
| Deferred Tax Assets, Net | $40.8亿2025-12-31 | $33.1亿 | +23.0% | $40.8亿 | $33.1亿 | +23.0% |
| Deferred Tax Assets, Other | $4990万2025-12-31 | $4300万 | +16.0% | $4990万 | $4300万 | +16.0% |
| Deferred Tax Assets, Property, Plant and Equipment | $1.93亿2025-12-31 | $1.45亿 | +32.7% | $1.93亿 | $1.45亿 | +32.7% |
| Deferred Tax Assets, Tax Credit Carryforwards | $7960万2025-12-31 | $8410万 | -5.4% | $7960万 | $8410万 | -5.4% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $4.52亿2025-12-31 | $4.2亿 | +7.7% | $4.52亿 | $4.2亿 | +7.7% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $1.59亿2025-12-31 | $1.85亿 | -14.2% | $1.59亿 | $1.85亿 | -14.2% |
| Deferred Tax Liabilities, Unrealized Gains on Trading Securities | $190万2025-12-31 | $9300万 | -98.0% | $190万 | $9300万 | -98.0% |
| Defined Contribution Plan, Cost | – | – | – | $9570万 | $9020万 | +6.1% |
| Depreciation, Depletion and Amortization | $1.21亿 | $1.37亿 | -11.5% | $5.44亿 | $4.83亿 | +12.6% |
| Dividends, Common Stock | $9830万 | $9340万 | +5.2% | $3.77亿 | – | – |
| Earnings Per Share, Basic | $19.16 | $14.09 | +36.0% | $43.07 | $40.90 | +5.3% |
| Earnings Per Share, Diluted | $18.45 | $13.62 | +35.5% | $41.48 | $38.34 | +8.2% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $50万 | -$40万 | +225.0% | $30万 | -$70万 | +142.9% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | $11亿 | – | – |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01