Regeneron Pharmaceuticals, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $4.50B | $4.41B | $3.95B | $4.34B | $8.08B | $3.51B | $2.12B | $2.44B |
| Depreciation & Amortization | $543.7M | $482.9M | $421.0M | $341.4M | $286.2M | $235.9M | $210.3M | $148.2M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $178.8M | $128.9M | $92.2M | $37.6M | $0 | — | — | — |
| Stock-Based Compensation | $993.7M | $982.8M | $885.0M | $725.0M | $601.7M | $432.0M | $464.3M | $427.4M |
| Net Cash from Operating Activities | $4.98B | $4.42B | $4.59B | $5.01B | $7.08B | $2.62B | $2.43B | $2.20B |
| Investing Activities | ||||||||
| Capital Expenditures | $898.4M | $755.9M | $718.6M | $590.1M | $551.9M | $614.6M | $429.6M | $383.1M |
| Business Acquisitions | $3.3M | $16.5M | $54.9M | $230.3M | $0 | — | — | — |
| Net Cash from Investing Activities | $-629.1M | $-2.47B | $-3.19B | $-3.78B | $-5.38B | $-70.6M | $-2.03B | $-1.46B |
| Financing Activities | ||||||||
| Dividends Paid | $370.3M | $0 | $0 | — | — | — | — | — |
| Stock Repurchases | $3.44B | $2.60B | $2.24B | $2.08B | $1.65B | $5.85B | $275.9M | $4.4M |
| Net Cash from Financing Activities | $-3.72B | $-2.20B | $-1.79B | $-1.01B | $-1.01B | $-1.97B | $-252.1M | $-77.1M |
| Net Change in Cash | $634.7M | $-248.8M | $-381.6M | $221.3M | $690.8M | $577.0M | $150.1M | $655.0M |
| Free Cash Flow | $4.08B | $3.66B | $3.88B | $4.42B | $6.53B | $2.00B | $2.00B | $1.81B |