Stock Analysis on Net
Stock Analysis on Net

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

$24.99

Debt to Equity
since 2005

Microsoft Excel

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Calculation

Regeneron Pharmaceuticals Inc., debt to equity, long-term trends, calculation

Microsoft Excel
Debt to equity = Total debt1 ÷ Stockholders’ equity1
Dec 31, 2025 = ÷
Dec 31, 2024 = ÷
Dec 31, 2023 = ÷
Dec 31, 2022 = ÷
Dec 31, 2021 = ÷
Dec 31, 2020 = ÷
Dec 31, 2019 = ÷
Dec 31, 2018 = ÷
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Dec 31, 2007 = ÷
Dec 31, 2006 = ÷
Dec 31, 2005 = ÷

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in thousands

The debt to equity ratio for the period examined demonstrates a significant shift over time. Initially, the ratio was relatively high, indicating a substantial reliance on debt financing. However, a consistent decline is observed over much of the analyzed period, followed by a recent increase.

Initial Period (2005-2009)
From 2005 to 2009, the debt to equity ratio decreased substantially. Starting at 1.75 in 2005, it fell to 0.27 by 2009. This suggests a reduction in the company’s financial leverage, potentially through increased equity financing or debt repayment. The initial high ratio indicates a higher level of financial risk, which diminished considerably during this timeframe.
Period of Stability (2010-2014)
Between 2010 and 2014, the debt to equity ratio remained relatively stable, fluctuating between 0.10 and 0.31. This period suggests a balanced approach to capital structure, with a moderate level of debt relative to equity. The ratio’s low values indicate a conservative financial posture.
Moderate Increase (2015-2019)
From 2015 to 2019, the ratio experienced a slight increase, moving from 0.10 to 0.06. While still low, this indicates a modest increase in the proportion of debt used to finance assets. The values remained consistently below 0.11, suggesting continued financial stability.
Significant Increase (2020-2025)
Beginning in 2020, a notable increase in the debt to equity ratio is observed. The ratio rose from 0.14 in 2020 to 0.09 in 2025. This increase, particularly the jump to 0.24 in 2020, suggests a significant shift towards debt financing. The substantial increase in total debt, while equity also increased, resulted in a higher leverage position. The ratio remains relatively low, but the trend warrants monitoring.

Overall, the company transitioned from a highly leveraged position to a more conservative capital structure, and then recently increased its reliance on debt. The recent increase in the debt to equity ratio, while not alarming in absolute terms, represents a change in financial strategy and should be considered in the context of future financial performance and industry trends.

Comparison to Competitors

Regeneron Pharmaceuticals Inc., debt to equity, long-term trends, comparison to competitors

Microsoft Excel
Regeneron Pharmaceuticals Inc. AbbVie Inc. Amgen Inc. Bristol-Myers Squibb Co. Danaher Corp. Eli Lilly & Co. Gilead Sciences Inc. Johnson & Johnson Merck & Co. Inc. Pfizer Inc. Thermo Fisher Scientific Inc. Vertex Pharmaceuticals Inc.
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Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)

Regeneron Pharmaceuticals Inc., debt to equity, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Regeneron Pharmaceuticals Inc. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Health Care)

Regeneron Pharmaceuticals Inc., debt to equity, long-term trends, comparison to industry (health care)

Microsoft Excel
Regeneron Pharmaceuticals Inc. Health Care
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).