For the year ending 2025-12-31, REGN had $634,700K increase in cash & cash equivalents over the period. $4,080,500K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 4,504,900 | 4,412,600 | 3,953,600 | 4,338,400 |
| Depreciation and amortization | 543,700 | 482,900 | 421,000 | 341,400 |
| Stock-based compensation expense | 993,700 | 982,800 | 885,000 | 725,000 |
| (gains) losses on marketable and other securities, net | 946,100 | 118,300 | -266,400 | -36,800 |
| Other, net | -135,500 | -23,500 | 100 | -368,000 |
| Deferred income taxes | 785,400 | 757,300 | 837,800 | 746,400 |
| Acquired in-process research and development in connection with asset acquisition | - | 12,600 | 0 | 195,000 |
| Decrease (increase) in accounts receivable | -498,100 | 554,000 | 338,800 | -707,800 |
| Increase in inventories | 275,300 | 619,700 | 271,700 | 696,500 |
| Increase in prepaid expenses and other assets | 375,300 | 407,500 | 120,100 | 148,600 |
| (decrease) increase in deferred revenue | -51,700 | 227,800 | 37,900 | 32,400 |
| Increase in accounts payable, accrued expenses, and other liabilities | 736,800 | 735,100 | 598,600 | -138,400 |
| Total adjustments | 474,000 | 7,900 | 640,400 | 676,500 |
| Net cash provided by operating activities | 4,978,900 | 4,420,500 | 4,594,000 | 5,014,900 |
| Purchases of marketable and other securities | 10,958,300 | 16,617,400 | 11,646,000 | 7,487,900 |
| Sales or maturities of marketable and other securities | 11,546,200 | 15,027,300 | 9,442,200 | 5,550,500 |
| Capital expenditures | 898,400 | 755,900 | 718,600 | 590,100 |
| Proceeds from sale of property, plant, and equipment | 0 | 20,100 | - | - |
| Payments for intangible assets | 315,300 | 125,700 | 207,800 | 1,026,800 |
| Asset acquisition, net of cash acquired | - | - | - | 230,300 |
| Acquisitions, net of cash acquired | 3,300 | 16,500 | 54,900 | - |
| Net cash used in investing activities | -629,100 | -2,468,100 | -3,185,100 | -3,784,600 |
| Proceeds from issuance of common stock | 635,900 | 1,465,300 | 1,145,500 | 1,519,500 |
| Payments in connection with common stock tendered for employee tax obligations | 532,100 | 1,029,100 | 700,600 | 445,700 |
| Repurchases of common stock | 3,438,600 | 2,603,300 | 2,235,000 | 2,082,800 |
| Proceeds from issuance of long-term debt | - | - | - | 0 |
| Proceeds from bridge loan facility | - | - | - | 0 |
| Dividends paid | 370,300 | - | - | - |
| Repayment of bridge loan facility | - | - | - | 0 |
| Other | -10,300 | -33,400 | - | - |
| Net cash used in financing activities | -3,715,400 | -2,200,500 | -1,790,100 | -1,009,000 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 300 | -700 | -400 | - |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 634,700 | -248,800 | -381,600 | 221,300 |
| Cash and cash equivalents at beginning of period | 2,489,000 | 2,737,800 | 3,119,400 | 2,898,100 |
| Cash and cash equivalents at end of period | 3,123,700 | 2,489,000 | 2,737,800 | 3,119,400 |
REGENERON PHARMACEUTICALS, INC. (REGN)
REGENERON PHARMACEUTICALS, INC. (REGN)