We publish no single base value for Regeneron Pharmaceuticals. Our valuation methods put it between $1,428.31 and $2,534.95 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | $2,534.95 | +166.5% | free cash flow $3.83bn, growth 18.59% for 5 years, then fading to 3% over 5 more, discounted at 7.11%; plus net cash $152.95 a share; stress floor — |
| Exit multiple (P/E) | $1,428.31 | +50.2% | earnings per share $68.75 valued at 16.29× (the stock's own median P/E) in 5 years, discounted back |
| Sum of the parts | — | — | no sum of the parts: this run holds no segment disclosure for the name |
| Price to sales | — | — | not reached: the cash-flow or earnings methods produced an anchor, so this fallback was not run |
| Tangible book | — | — | used only for lenders, where book value is the business |
| Price to FFO (REITs) | — | — | used only for REITs |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
The discount rate:
| Risk-free rate | 5.13% (10-year US Treasury yield) |
| Company's own beta | 0.10 (5 years of monthly returns against the S&P 500; standard error 0.26) |
| Peer beta | 0.35 (median of 7 S&P 500 Biotechnology companies) |
| Blend of own and peers | 0.17 (72% own, 28% peers, weighted by how precisely the company's own beta is measured) |
| Adjusted beta | 0.44 (0.67 × 0.17 + 0.33, pulled toward the market's 1.0) |
| Equity risk premium | 4.5% |
| Discount rate = risk-free + adjusted beta × premium | 7.11% |
Free cash flow grows 18.59% a year for 5 years, then fades in equal steps toward 3% over 5 more; each year is discounted by 1 ÷ (1 + rate)^year:
| Year | Growth | Free cash flow | Discount factor | Present value |
|---|---|---|---|---|
| Now | — | $3.83bn | — | — |
| Year 1 | 18.59% | $4.54bn | 0.9336 | $4.24bn |
| Year 2 | 18.59% | $5.38bn | 0.8716 | $4.69bn |
| Year 3 | 18.59% | $6.38bn | 0.8138 | $5.19bn |
| Year 4 | 18.59% | $7.57bn | 0.7598 | $5.75bn |
| Year 5 | 18.59% | $8.97bn | 0.7093 | $6.37bn |
| Year 6 | 15.99% | $10.41bn | 0.6622 | $6.89bn |
| Year 7 | 13.39% | $11.80bn | 0.6183 | $7.30bn |
| Year 8 | 10.80% | $13.08bn | 0.5772 | $7.55bn |
| Year 9 | 8.20% | $14.15bn | 0.5389 | $7.63bn |
| Year 10 | 5.60% | $14.94bn | 0.5032 | $7.52bn |
| Terminal value = year-10 cash flow × (1 + 3%) ÷ (7.11% − 3%) | $374.47bn |
| Terminal value in today's money | $188.42bn |
| Present value of years 1–10 | $63.12bn |
| Total present value | $251.54bn |
| Shares outstanding | 105.60m |
| Cash flows per share = total ÷ shares | $2,382.00 |
| Plus net cash per share | $152.95 |
| Value per share | $2,534.95 |
How the DCF value moves with the discount rate and the starting growth (the middle cell is the published value):
| Discount rate | Growth 13.59% | Growth 18.59% | Growth 23.59% |
|---|---|---|---|
| 6.11% | $2,521.29 | $3,375.55 | $4,501.23 |
| 7.11% | $1,914.31 | $2,534.95 | $3,350.41 |
| 8.11% | $1,546.32 | $2,026.03 | $2,654.51 |
The same DCF at each beta, starting growth unchanged:
| Beta | Value | Discount rate | DCF value |
|---|---|---|---|
| Company's own beta | 0.10 | 5.58% | $4,087.57 |
| Peer beta | 0.35 | 6.71% | $2,820.25 |
| Adjusted beta (used) | 0.44 | 7.11% | $2,534.95 |
Earnings per share grow on the same fading path as the DCF:
| Year | Growth | Earnings per share |
|---|---|---|
| Now | — | $68.75 |
| Year 1 | 18.59% | $81.53 |
| Year 2 | 14.69% | $93.51 |
| Year 3 | 11.77% | $104.51 |
| Year 4 | 9.58% | $114.52 |
| Year 5 | 7.93% | $123.61 |
| Earnings per share in year 5 | $123.61 |
| Exit P/E (the stock's own median P/E) | 16.29× |
| Value in 5 years = earnings × P/E | $2,013.59 |
| Discounted at 7.11% over 5 years: ÷ 1.4098 | $1,428.31 |
We publish no single base value for Regeneron Pharmaceuticals. Our valuation methods put it between $1,428.31 and $2,534.95 a share. The valuation code's reason: no point fair value: the two anchors behind it compound the same growth rate and differ only in how they end — a perpetuity at the terminal rate against a multiple on the final year — so the midpoint between them measures terminal treatment rather than what the business is worth. The published range is the same reading with the false precision removed: read it as the span the method supports, and treat neither edge as a point estimate.
One-year price simulation: a 10% chance the price is below $570.37 and a 10% chance it is above $1,559.79 in a year; a 49% chance it is higher than today's $951.19, from 39.05% volatility. The simulation assumes the price drifts up at our discount rate of 7.11% a year.
At $951.19 the price implies free cash flow growing 1.0% a year for five years and then fading toward 3% over five more; its revenue has grown 18.6%.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $735.20 | — |
| 9 Oct 2026 | $746.54 | — |
| 16 Oct 2026 | $790.74 | — |
| 23 Oct 2026 | $805.02 | — |
| 30 Oct 2026 | $927.89 | — |
| 6 Nov 2026 | $904.35 | — |
| 12 Nov 2026 | $951.19 | — |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
Run a full Desk Run on REGN · Regeneron Pharmaceuticals company page · Call and put prices