How does Regeneron Pharmaceuticals (REGN) make money?

Regeneron Pharmaceuticals (REGN) generates revenue primarily from Collaboration Revenue, which accounted for 51.6% of total revenue in TTM through Q1 2026. The company reported $14.9B in revenue and converted 29.6% of it into net profit, equivalent to roughly $4.42B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Regeneron Pharmaceuticals (REGN)?

Regeneron Pharmaceuticals (REGN) reported a gross profit margin of 84.5% in TTM through Q1 2026, equivalent to $12.6B in gross profit on $14.9B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Regeneron Pharmaceuticals (REGN)?

Regeneron Pharmaceuticals (REGN) reported an operating profit margin of 24.3% in TTM through Q1 2026, equivalent to $3.63B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Regeneron Pharmaceuticals (REGN)?

Regeneron Pharmaceuticals (REGN) reported a net profit margin of 29.6% in TTM through Q1 2026, equivalent to $4.42B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Regeneron Pharmaceuticals (REGN) profitable?

Yes. Regeneron Pharmaceuticals (REGN) reported $4.42B in net income for TTM through Q1 2026, with a net profit margin of 29.6%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Regeneron Pharmaceuticals (REGN) invest in research and development?

Regeneron Pharmaceuticals (REGN) invested $6.26B in research and development during TTM through Q1 2026, roughly 42.0% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Regeneron Pharmaceuticals (REGN) spend on capital expenditures?

Regeneron Pharmaceuticals (REGN) spent $858M on capital expenditures (CapEx) during TTM through Q1 2026, roughly 5.7% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Regeneron Pharmaceuticals (REGN) generate?

Regeneron Pharmaceuticals (REGN) generated $4.16B in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 27.9%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Regeneron Pharmaceuticals (REGN)?

Regeneron Pharmaceuticals (REGN) had an effective tax rate of 14.2% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Regeneron Pharmaceuticals (REGN)?

Regeneron Pharmaceuticals (REGN) reports revenue across 3 reportable product segments, led by Collaboration Revenue at 51.6% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Regeneron Pharmaceuticals Makes Money: 2026 Visual Revenue Map

Regeneron Pharmaceuticals (REGN) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 29, 2026).

Regeneron Pharmaceuticals discloses geographic revenue only in annual filings. to view the full breakdown.

Regeneron Pharmaceuticals (REGN) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Regeneron Pharmaceuticals (REGN), TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Collaboration Revenue	$7.7B	51.6%
Product	$6.43B	43.1%
Product and Service, Other	$792M	5.3%
Total	$14.9B	100%

Collaboration Revenue$7.7B
Product$6.43B
Product and Service, Other$792M
Total$14.9B

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Regeneron Pharmaceuticals (REGN) reports revenue across 3 reportable product segments; the largest segment was Collaboration Revenue at 51.6%, followed by Product (43.1%) and Product and Service, Other (5.3%).

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