Regeneron Pharmaceuticals Inc (REGN) is overvalued and Royalty Pharma plc (RPRX) is overvalued.
Both trade above our estimate of their intrinsic value. REGN is the closer of the two: -23%, against -49% for RPRX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 9.1% (average of 3 methods) values the shares at $652.24; the price of $803.90 is 23% above that value, and 76% of that value comes from beyond year five.
Leak Score 42/100 on 10 of 12 signals
Discounting its cash flows at 7.7% (average of 3 methods) values the shares at $39.27; the price of $58.52 is 49% above that value, and 80% of that value comes from beyond year five.
Leak Score 34/100 on 7 of 12 signals
| Metric | REGN | RPRX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $803.90 | $58.52 |
| Intrinsic value | $652.24 | $39.27 |
| Margin of safety | -23% | -49% |
| Leak Score | 42/100 (10/12) | 34/100 (7/12) |
| Market cap | $82.8B | $33.7B |
| Revenue growth, 5 years | 11.0% | 2.3% |
| Operating margin | 26.9% | 62.3% |
| Net margin | 27.9% | 32.1% |
| Return on equity | 14.0% | 12.4% |
| Debt to equity | 0.09 | 1.31 |
| P/E | 19.9x | 31.1x |
| Forward P/E | 13.1x | 10.2x |
| P/B | 2.6x | 3.8x |
| Dividend yield | 0.4% | 1.8% |