Repligen Corp

Biological Products, (No Diagnostic Substances)

RGENMixed7 of 10 basics passed

$173.88

+6.13%

Market cap $11.0B

$173.88

+6.13%

Market cap $11.0B

Repligen, headquartered in Waltham, Massachusetts, is a global life sciences company that develops and sells bioprocessing equipment and supplies used in the manufacturing of biologic drugs, including monoclonal antibodies, recombinant proteins, vaccines, and cell and gene therapies.

It is a $11.0B healthcare company. Revenue grew 15.4% over the last year, it keeps 5¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 265.8× earnings — near the highest of its own history.

Website: repligen.com
Location: Waltham, MA
Employees: 2 000
Sector: Healthcare
Founded: 1981

Share price · 3 years

$155.22 → $173.88+12.0%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $785M
Profit: keeps 5¢ of every $1 sold; $41.5M
Free cash flow: cash left after running the business; $112M
Net cash: more cash than debt; $225M
P/E: years of profit in the price; 265.8
EPS: earnings per share, TTM; $734.41
Shares: up 66% since 2016 — dilution; 56,561
Volatility: beta vs the market — under 1 swings less; 1.12

Revenue, last 10 years

52-week range

Low $102.87$173.88High $194.57

Today's price is 77% of the way from the year's low to its high.

P/E vs its history5y

236.2×median 0.1×

Higher than 98% of past days — near the highest of its own history.

Valuation vs own history

P/E

236.2×

P/S

12.5×

11%

EV/EBITDA

136.6×

10%

P/B

4.6×

19%

FCF yield

1.1%

11%

Share of the last ~5 years that was pricier than today (unusually expensive vs its own history). Based on the daily valuation record.

Insider activity · 90 days

-$3.50Mnet selling

Purchases$0

Sales$3.50M

Insiders trading, last 14d0 buy · 1 sell

Standing in Healthcare

Size$11.0Btop 80%
Revenue growth-3%top 90%
Net margin5%top 60%
Return on equity2%top 74%
P/E265.8×top 100%

Ranked against 98 Healthcare companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong health and quality; Valuation, Growth and Profitability lag behind.

Valuation10

P/E vs own history98th pct · 0/25
FCF yield1.0% · 5/25
P/S14.1x · 5/25
EV/EBITDA84.7x · 0/25

Growth31

Revenue CAGR2.4% · 6/25
Net income CAGR-21.4% · 0/25
EPS CAGR ~5Y-4.9% · 0/25
Fwd implied growth253.0% · 25/25

Profitability28

ROIC2.6% · 5/25
ROE2.0% · 5/25
Net margin5.3% · 13/25
Operating margin6.5% · 5/25

Health75

Altman Zn/a · 0/25
Current ratio9.05 · 25/25
Interest coverage13.3x · 25/25
Net cash / debtNet cash · 25/25

Quality84

Piotroski F7/9 · 22/25
Beneish M-2.50 · 25/25
FCF conversion270% · 25/25
Margin stabilityσ 8.3% · 12/25

Moat55

ROIC >12% years1/10 yrs · 0/25
Median gross margin55.2% · 25/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst -4.0% · 5/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2022Financial
Best year on record
$186M net income
FY2016Financial
First recorded profitable year
$11.7M net income
FY2016Financial
Positive free cash flow every year since
10-year streak
2011Acquisition
Repligen acquired bioproduction assets from Novozymes
1981Founded
Repligen was founded in 1981 by Alexander Rich and Paul Schimmel and was incorporated in Delaware

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$5 657 today — price return only

$738.3M revenue in FY2025

Revenue up 15.4% year over year

Positive free cash flow 10 years in a row

2 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (53.8%)
Revenue growing 15.4% year over year
Net cash position after subtracting debt from cash
Interest covered 13.3× by operating earnings
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Loss-making in 1 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

7 of 10 checks passed

Revenue growing — the company sells more than a year ago+15.4% YoY
Profitable — makes more than it spends$41.5M TTM
Profit growing — earnings are higher than last year-35.6% YoY
Generates cash — cash left after running and investing$112M TTM
Debt under control — could handle its obligationsmore cash than debt
Established company — not a micro-cap — lower blow-up risk$11.0B market cap
Not printing shares — share count not ballooning — you keep your slice+5.0% shares over ~5y
Proven track record — years of profitability behind it9/10 profitable years
Financially stable — balance sheet not near distresshealth score 50/100
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsP/E 265.8

Peer comparisonRepligen Corp vs 6 largest healthcare peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
RGEN this company	$11.0B	265.8	+15.4%	5.3%	Mixed
LLY Eli Lilly & Co.	$1.0T	41.6	+49.6%	33.5%	Solid
JNJ Johnson & Johnson	$630.9B	29.9	+8.1%	21.5%	Mixed
ABBV Abbvie Inc.	$488.5B	77.4	+10.4%	9.8%	Mixed
MRK Merck & Co., Inc.	$361.0B	113.2	+4.6%	4.8%	Mixed
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware)	$340.7B	24.1	+6.5%	3.1%	Mixed
NVS Novartis AG	$273.2B	20.3	+9.6%	24.7%	Solid

Head-to-head: RGEN vs LLY · RGEN vs JNJ · RGEN vs ABBV

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 17Hold 4

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $785M · net income $41.5M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$785M

YoY 15.4%

Net income (TTM)

$41.5M

Margin 5.3%

Gross margin

53.8%

Operating margin

6.5%

P/E ratio

265.8

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	0.4	0.7	0.8	0.6	0.6	0.7
Gross profit	0.2	0.4	0.5	0.3	0.3	0.4
Operating income (EBIT)	0.1	0.2	0.2	0.0	0.0	0.1
Net income	0.1	0.1	0.2	0.0	-0.0	0.0
EPS (diluted)	1111.96	2240.34	3236.60	638.31	-456.12	864.45

Cash flowFree cash flow $112M · operating cash flow $135M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$112M

Margin 14.3%

Operating cash flow (TTM)

$135M

FCF margin

14.3%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.1	0.1	0.2	0.1	0.2	0.1
Capital expenditure	-0.0	-0.1	-0.1	-0.0	-0.0	-0.0
Free cash flow	0.0	0.1	0.1	0.1	0.1	0.1
FCF margin	11.0%	7.7%	10.9%	12.3%	23.6%	12.7%

Balance sheetAssets $2.95B · net cash $225M (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $2.95B of assets is financed

29%

71%

Liabilities $844M — borrowed moneyEquity $2.11B — owners' stake

Cash vs debt

Total debt $542M − cash $768M = net cash $225M

Cash on hand covers all debt.

Debt repayment

Not needed

Cash already covers all debt

Interest coverage

13.3x

EBIT ÷ interest expense

ROE

2.0%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	0.7	0.6	0.5	0.8	0.8	0.8
Total assets	1.9	2.4	2.5	2.8	2.8	2.9
Total liabilities	0.4	0.6	0.6	0.9	0.9	0.8
Total debt	—	0.2	0.2	0.7	0.7	0.5
Equity	1.5	1.8	1.9	2.0	2.0	2.1
Net debt	—	-0.4	-0.3	-0.0	-0.0	-0.2

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of RGEN on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $173.88 · market cap $11.0B.