Discounted Cash Flow

Regeneron Pharmaceuticals, Inc.

REGN · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $4.9b $895.5m $961.5m 18.4% $8.55
2017 $5.9b (20.8%) $1.2b (33.8%) $1.0b (7.6%) 20.4% (10.8%) $11.27 (31.8%)
2018 $6.7b (14.3%) $2.4b (104.0%) $1.8b (75.2%) 36.4% (78.5%) $22.65 (101.0%)
2019 $7.9b (17.2%) $2.1b (-13.4%) $2.0b (10.4%) 26.9% (-26.1%) $19.38 (-14.4%)
2020 $8.5b (8.1%) $3.5b (66.0%) $2.0b (0.2%) 41.3% (53.7%) $32.65 (68.5%)
2021 $16.1b (89.1%) $8.1b (129.9%) $6.5b (225.9%) 50.2% (21.5%) $76.40 (134.0%)
2022 $12.2b (-24.3%) $4.3b (-46.3%) $3.4b (-48.0%) 35.6% (-29.1%) $40.51 (-47.0%)
2023 $13.1b (7.8%) $4.0b (-8.9%) $3.7b (7.9%) 30.1% (-15.4%) $37.05 (-8.5%)
2024 $14.2b (8.3%) $4.4b (11.6%) $3.5b (-3.5%) 31.1% (3.1%) $40.90 (10.4%)
2025 $14.3b (1.0%) $4.5b (2.1%) $3.8b (6.4%) 31.4% (1.1%) $43.07 (5.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model