REGENERON PHARMACEUTICALS, INC.
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 30, 2026
REGN$916.06-0.4%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(In millions)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income | $3,972.8 | $3,660.3 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 367.9 | 398.7 |
| Stock-based compensation expense | 756.2 | 744.4 |
| Gains on marketable and other securities, net | (147.2) | (967.6) |
| Other, net | 201.6 | (1.4) |
| Deferred income taxes | (472.7) | (552.9) |
| Changes in assets and liabilities: | ||
| (Increase) decrease in accounts receivable | (1,850.5) | 549.3 |
| Decrease (increase) in inventories | 110.7 | (277.4) |
| Increase in prepaid expenses and other assets | (856.7) | (458.1) |
| Increase (decrease) in deferred revenue | 208.3 | (48.6) |
| Increase in accounts payable, accrued expenses, and other liabilities | 1,384.9 | 761.5 |
| Total adjustments | (297.5) | 147.9 |
| Net cash provided by operating activities | 3,675.3 | 3,808.2 |
| Cash flows from investing activities: | ||
| Purchases of marketable and other securities | (6,234.6) | (8,914.6) |
| Sales or maturities of marketable and other securities | 6,352.1 | 8,991.2 |
| Capital expenditures | (771.0) | (649.7) |
| Payments for intangible assets | (156.2) | (273.3) |
| Acquisitions, net of cash acquired | — | (3.0) |
| Net cash used in investing activities | (809.7) | (849.4) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Common Stock | 513.2 | 132.4 |
| Payments in connection with Common Stock tendered for employee tax obligations | (176.5) | (12.9) |
| Repurchases of Common Stock | (2,363.4) | (2,766.9) |
| Dividends paid | (290.3) | (277.6) |
| Other | — | (10.3) |
| Net cash used in financing activities | (2,317.0) | (2,935.3) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (0.7) | 0.6 |
| Net increase in cash, cash equivalents, and restricted cash | 547.9 | 24.1 |
| Cash, cash equivalents, and restricted cash at beginning of period | 3,123.7 | 2,489.0 |
| Cash, cash equivalents, and restricted cash at end of period | $3,671.6 | $2,513.1 |
| The accompanying notes are an integral part of the financial statements. | ||
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