Regeneron Pharmaceuticals
REGN · Biotechnology
$805.02
1.7%Vertex Pharmaceuticals
VRTX · Biotechnology
$523.93
2.1%The short version
- Regeneron Pharmaceuticals is the larger business, with $14.3B of revenue in fiscal 2025 against $12.0B for Vertex Pharmaceuticals.
- Vertex Pharmaceuticals grew revenue faster (8.9%, against 1.0%).
- Vertex Pharmaceuticals kept more of each dollar of sales as operating profit (34.8% operating margin, against 25.0% operating margin).
- Regeneron Pharmaceuticals turned more of its sales into free cash flow (28.5% FCF margin, against 26.6% FCF margin).
- Vertex Pharmaceuticals earned a higher return on the capital invested in it (31.5%, against 12.7%).
- Investors pay more for each dollar of Vertex Pharmaceuticals’s earnings: a P/E of 30.5x against 19.9x for Regeneron Pharmaceuticals.
| Latest fiscal year | REGN · FY25 | VRTX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $85.3B | $133.7B |
| Revenue | $14.3B | $12.0B |
| Free cash flow | $4.1B | $3.2B |
| Net income | $4.5B | $4.0B |
| Growth | ||
| Revenue growth | 1.0% | 8.9% |
| 5-year growth | 11.0% | 14.1% |
| Share count change | −5.7% | 0.0% |
| Profitability | ||
| Gross margin | — | 86.2% |
| Operating margin | 25.0% | 34.8% |
| Net margin | 31.4% | 32.9% |
| FCF margin | 28.5% | 26.6% |
| Return on capital | 12.7% | 31.5% |
| Return on equity | 14.9% | 22.5% |
| Balance sheet | ||
| Net debt | −$5.9B | −$6.5B |
| Net debt / EBITDA | −1.4x | −1.5x |
| Dividends and buybacks | $3.8B | $2.0B |
| Valuation & quality | ||
| P/E | 19.9x | 30.5x |
| Piotroski F-score | 5 | 6 |
FY16
REGN $4.9B
VRTX $1.7B
FY17
REGN $5.9B
VRTX $2.5B
FY18
REGN $5.1B
VRTX $3.0B
FY19
REGN $6.6B
VRTX $4.2B
FY20
REGN $8.5B
VRTX $6.2B
FY21
REGN $16.1B
VRTX $7.6B
FY22
REGN $12.2B
VRTX $8.9B
FY23
REGN $13.1B
VRTX $9.9B
FY24
REGN $14.2B
VRTX $11.0B
FY25
REGN $14.3B
VRTX $12.0B
REGN
VRTX
FY16
REGN 27.4%
VRTX 0.6%
FY17
REGN 35.4%
VRTX 5.0%
FY18
REGN 49.3%
VRTX 20.8%
FY19
REGN 33.7%
VRTX 28.8%
FY20
REGN 42.1%
VRTX 46.0%
FY21
REGN 55.7%
VRTX 36.7%
FY22
REGN 38.9%
VRTX 48.2%
FY23
REGN 30.9%
VRTX 38.8%
FY24
REGN 28.1%
VRTX −2.1%
FY25
REGN 25.0%
VRTX 34.8%
REGN
VRTX
FY16
REGN $974M
VRTX $180M
FY17
REGN $1.0B
VRTX $746M
FY18
REGN $1.8B
VRTX $1.2B
FY19
REGN $2.0B
VRTX $1.5B
FY20
REGN $2.0B
VRTX $3.0B
FY21
REGN $6.5B
VRTX $2.4B
FY22
REGN $4.4B
VRTX $3.9B
FY23
REGN $3.9B
VRTX $3.3B
FY24
REGN $3.7B
VRTX −$790M
FY25
REGN $4.1B
VRTX $3.2B
REGN
VRTX
FY16
REGN 29.8%
VRTX 1.9%
FY17
REGN 29.4%
VRTX —
FY18
REGN 45.4%
VRTX 77.3%
FY19
REGN 26.5%
VRTX 49.0%
FY20
REGN 35.2%
VRTX 91.0%
FY21
REGN 59.8%
VRTX 83.1%
FY22
REGN 25.3%
VRTX 100.4%
FY23
REGN 21.5%
VRTX 60.9%
FY24
REGN 18.0%
VRTX −1.4%
FY25
REGN 12.7%
VRTX 31.5%
REGN
VRTX
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