What is Regeneron Pharmaceuticals, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Regeneron Pharmaceuticals, Inc.'s reported free cash flow gives $988.99 per share. The share price was $788.04 on September 25, 2026, 20% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 6.0% | 10.0% | $605.73 | -23% |
| Base | 11.0% | 9.0% | $988.99 | +26% |
| Bull | 16.0% | 8.0% | $1,703.67 | +116% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $1,273.12 | $1,360.94 | $1,468.28 | $1,602.45 | $1,774.96 |
| 8.0% | $1,060.27 | $1,117.22 | $1,184.53 | $1,265.30 | $1,364.01 |
| 9.0% | $905.12 | $944.06 | $988.99 | $1,041.41 | $1,103.36 |
| 10.0% | $787.26 | $814.95 | $846.33 | $882.20 | $923.58 |
| 11.0% | $694.84 | $715.14 | $737.83 | $763.35 | $792.28 |
Where the presets come from
Base: years 1 to 5 grow at Regeneron Pharmaceuticals, Inc.'s revenue growth rate over the last 5 fiscal years (11.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions