Amgen vs Regeneron Pharmaceuticals
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put Amgen and Regeneron Pharmaceuticals side by side, using each one’s latest annual report. Here is what stands out:
- Amgen is the larger business, with $36.8B of revenue in fiscal 2025 against $14.3B for Regeneron Pharmaceuticals, about 2.6 times as much.
- Amgen grew revenue faster (10.0%, against 1.0%).
- Regeneron Pharmaceuticals turned more of its sales into free cash flow (28.5% FCF margin, against 22.0%).
- Amgen earned a higher return on the capital invested in it (14.4%, against 12.7%).
- Investors pay more for each dollar of Amgen’s earnings: a P/E of 27.6x against 20.0x for Regeneron Pharmaceuticals.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Amgen
AMGN
4/10
Revenue growthReturn on capitalReturn on equityPiotroski F-score
Regeneron Pharmaceuticals
REGN
6/10
5-year growthOperating marginNet marginFCF marginNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | AMGN FY25 | REGN FY25 |
|---|---|---|
| Size | ||
| Market cap | $241.9B | $85.6B |
| Revenue | $36.8B | $14.3B |
| Free cash flow | $8.1B | $4.1B |
| Net income | $7.7B | $4.5B |
| Growth | ||
| Revenue growth | 10.0% | 1.0% |
| 5-year growth | 7.7% | 11.0% |
| Share count change | 0.2% | −5.7% |
| Profitability | ||
| Gross margin | 67.3% | — |
| Operating margin | 24.7% | 25.0% |
| Net margin | 21.0% | 31.4% |
| FCF margin | 22.0% | 28.5% |
| Return on capital | 14.4% | 12.7% |
| Return on equity | 106.1% | 14.9% |
| Balance sheet | ||
| Net debt | $45.5B | −$5.9B |
| Net debt / EBITDA | 3.2x | −1.4x |
| Dividends and buybacks | $5.1B | $3.8B |
| Valuation & quality | ||
| P/E | 27.6x | 20.0x |
| Piotroski F-score | 7 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.