Biogen vs Regeneron Pharmaceuticals
Regeneron Pharmaceuticals reported revenue of $14.3 billion in fiscal 2025, 1.5 times Biogen's $9.9 billion in fiscal 2025. Biogen's revenue grew 2.2% in its latest year, and Regeneron Pharmaceuticals' grew 1.0%. Free cash flow was $2.1 billion at Biogen and $4.1 billion at Regeneron Pharmaceuticals.
Side by side
| Biogen | Regeneron Pharmaceuticals | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $9.9B | $14.3B |
| Revenue growth | 2.2% | 1.0% |
| Revenue growth a year, last 5 years | −6.0% | 11.0% |
| Gross margin | 75.7% | — |
| Operating margin | — | 24.9% |
| Net margin | 13.1% | 31.4% |
| Free cash flow | $2.1B | $4.1B |
| Free cash flow margin | 20.7% | 28.4% |
| Return on capital | 7.3% | 12.7% |
| Net debt to EBITDA | 0.9x | −1.4x |
| Dividends and buybacks | $0M | $3.8B |
| Change in diluted share count | 0.8% | −5.7% |
| Last close | $252.26 | $807.67 |
| P/E at the last close | 27.1× | 20.0× |
| Insider trades, last 12 months | bought $585, sold $905,414 | sold $16.1 million |
| Piotroski F-score | 5 of 9 | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
BiogenRegeneron Pharmaceuticals
Operating margin
Percent of revenue
BiogenRegeneron Pharmaceuticals
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
BiogenRegeneron Pharmaceuticals
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Biogen and Regeneron Pharmaceuticals pages.