NASDAQ : SNY
Sanofi — Financial statements
Healthcare · Drug Manufacturers - General · France
Last price 43.13 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 101.86B
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Financial statements
Sanofi (SNY) reported revenue of 50.98B EUR (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 47.85B | 43.63B | 41.08B | 37.82B | 37.65B | 37.76B |
| Other Revenue | 3.13B | 3.09B | 3.21B | 3.29B | 2.65B | 1.41B |
| Revenue | 50.98B | 46.72B | 44.29B | 41.11B | 40.30B | 39.17B |
| Cost of Revenue | 13.42B | 12.92B | 13.20B | 12.62B | 11.87B | 12.25B |
| Gross Profit | 37.56B | 33.79B | 31.09B | 28.49B | 28.43B | 26.92B |
| Selling, General & Admin | 9.92B | 9.62B | 9.25B | 9.00B | 8.79B | 9.60B |
| Research & Development | 8.12B | 7.84B | 7.39B | 6.51B | 6.50B | 5.69B |
| Amortization of Goodwill & Intangibles | 2.18B | 1.78B | 1.75B | 1.91B | 1.58B | 1.58B |
| Other Operating Expenses | 6.29B | 4.91B | 3.83B | 2.95B | 1.19B | 1.49B |
| Operating Expenses | 26.52B | 24.14B | 22.22B | 20.37B | 18.05B | 18.36B |
| Operating Income | 11.05B | 9.65B | 8.87B | 8.12B | 10.38B | 8.56B |
| Interest Expense | -631.00M | -531.00M | -641.00M | -589.00M | -402.00M | -362.00M |
| Interest & Investment Income | 236.00M | 320.00M | 413.00M | 527.00M | 239.00M | 3.00M |
| Earnings From Equity Investments | -216.00M | -155.00M | 60.00M | -136.00M | 55.00M | 39.00M |
| Currency Exchange Gain (Loss) | 2.00M | 2.00M | 6.00M | -2.00M | -3.00M | 2.00M |
| Other Non Operating Income (Expenses) | 122.00M | 122.00M | -268.00M | -574.00M | -14.00M | 70.00M |
| EBT Excluding Unusual Items | 10.56B | 9.41B | 8.44B | 7.35B | 10.26B | 8.32B |
| Merger & Restructuring Charges | -1.31B | -1.26B | -1.41B | -1.04B | -1.09B | -824.00M |
| Gain (Loss) on Sale of Investments | -9.00M | -9.00M | -1.00M | 1.00M | 3.00M | |
| Gain (Loss) on Sale of Assets | 312.00M | 485.00M | 539.00M | 484.00M | 481.00M | 418.00M |
| Asset Writedown | -3.03B | -2.24B | -248.00M | -896.00M | 203.00M | -192.00M |
| Legal Settlements | -580.00M | -255.00M | -470.00M | -196.00M | -143.00M | |
| Other Unusual Items | -34.00M | -104.00M | -96.00M | 416.00M | 284.00M | 115.00M |
| Pretax Income | 5.91B | 6.02B | 6.76B | 6.12B | 9.99B | 7.84B |
| Income Tax Expense | 1.72B | 1.04B | 1.20B | 1.02B | 1.91B | 1.56B |
| Earnings From Continuing Operations | 4.19B | 4.98B | 5.55B | 5.10B | 8.08B | 6.28B |
| Earnings From Discontinued Operations | 39.00M | 2.87B | 64.00M | 338.00M | 401.00M | |
| Net Income to Company | 4.23B | 7.85B | 5.62B | 5.44B | 8.48B | 6.28B |
| Minority Interest in Earnings | -55.00M | -38.00M | -58.00M | -36.00M | -113.00M | -56.00M |
| Net Income | 4.18B | 7.81B | 5.56B | 5.40B | 8.37B | 6.22B |
| Net Income to Common | 4.18B | 7.81B | 5.56B | 5.40B | 8.37B | 6.22B |
| Shares Outstanding (Basic) | 1.20B | 1.22B | 1.25B | 1.25B | 1.25B | 1.25B |
| Shares Outstanding (Diluted) | 1.21B | 1.23B | 1.26B | 1.26B | 1.26B | 1.26B |
| EPS (Basic) | 3.47 | 6.40 | 4.44 | 4.31 | 6.69 | 4.97 |
| EPS (Diluted) | 3.46 | 6.37 | 4.44 | 4.31 | 6.67 | 4.95 |
| Free Cash Flow | 9.97B | 8.99B | 7.35B | 8.64B | 9.00B | 9.04B |
| Free Cash Flow Per Share | 8.25 | 7.33 | 5.85 | 6.88 | 7.16 | 7.19 |
| Dividend Per Share | 4.12 | 3.92 | 3.76 | 3.56 | 3.33 | |
| Gross Margin | 73.68% | 72.34% | 70.20% | 69.30% | 70.55% | 68.73% |
| Operating Margin | 21.67% | 20.66% | 20.03% | 19.75% | 25.76% | 21.86% |
| Profit Margin | 8.20% | 16.72% | 12.55% | 13.14% | 20.77% | 15.88% |
| Free Cash Flow Margin | 19.56% | 19.24% | 16.59% | 21.02% | 22.32% | 23.09% |
| EBITDA | 14.47B | 12.64B | 11.66B | 11.08B | 13.09B | 11.25B |
| EBITDA Margin | 28.38% | 27.05% | 26.34% | 26.94% | 32.49% | 28.72% |
| D&A For EBITDA | 3.42B | 2.99B | 2.80B | 2.96B | 2.71B | 2.69B |
| EBIT | 11.05B | 9.65B | 8.87B | 8.12B | 10.38B | 8.56B |
| EBIT Margin | 21.67% | 20.66% | 20.03% | 19.75% | 25.76% | 21.86% |
| Effective Tax Rate | 29.05% | 17.33% | 17.82% | 16.63% | 19.11% | 19.88% |
Balance sheet
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 5.97B | 7.66B | 7.44B | 8.71B | 12.74B | 10.10B |
| Trading Asset Securities | 17.00M | 115.00M | 112.00M | 146.00M | 11.00M | |
| Cash & Short-Term Investments | 5.97B | 7.67B | 7.56B | 8.82B | 12.88B | 10.11B |
| Accounts Receivable | 8.41B | 7.68B | 8.43B | 8.42B | 7.57B | |
| Other Receivables | 326.00M | 2.64B | 2.95B | 2.61B | 2.32B | 2.22B |
| Receivables | 326.00M | 11.05B | 10.63B | 11.04B | 10.75B | 9.79B |
| Inventory | 25.02B | 10.21B | 9.43B | 9.67B | 8.96B | 8.71B |
| Prepaid Expenses | 918.00M | 895.00M | 768.00M | 714.00M | 615.00M | |
| Other Current Assets | 1.89B | 1.10B | 14.08B | 374.00M | 808.00M | 1.43B |
| Total Current Assets | 33.21B | 30.95B | 42.59B | 30.67B | 34.11B | 30.65B |
| Property, Plant & Equipment | 12.08B | 11.51B | 11.60B | 11.81B | 11.68B | 11.98B |
| Long-Term Investments | 6.85B | 3.26B | 2.67B | 2.77B | 2.42B | |
| Goodwill | 41.30B | 43.38B | 49.40B | 49.89B | 48.06B | |
| Other Intangible Assets | 67.63B | 17.53B | 14.26B | 18.28B | 15.41B | 13.68B |
| Long-Term Deferred Tax Assets | 8.61B | 7.97B | 6.43B | 5.38B | 4.60B | |
| Long-Term Deferred Charges | 8.73B | 8.37B | 6.04B | 6.23B | 7.73B | |
| Other Long-Term Assets | 17.38B | 926.00M | 868.00M | 573.00M | 797.00M | 645.00M |
| Total Assets | 130.29B | 126.81B | 132.80B | 126.46B | 126.72B | 120.24B |
| Accounts Payable | 24.55B | 7.36B | 7.55B | 7.33B | 6.81B | 6.18B |
| Accrued Expenses | 2.47B | 2.37B | 2.50B | 2.58B | 2.55B | |
| Short-Term Debt | 3.35B | 240.00M | 200.00M | 203.00M | 164.00M | 189.00M |
| Current Portion of Long-Term Debt | 4.10B | 4.02B | 1.84B | 4.01B | 3.00B | |
| Current Portion of Leases | 216.00M | 272.00M | 261.00M | 275.00M | 277.00M | 269.00M |
| Current Income Taxes Payable | 1.43B | 751.00M | 697.00M | 597.00M | 574.00M | 309.00M |
| Current Unearned Revenue | 269.00M | 321.00M | ||||
| Other Current Liabilities | 220.00M | 13.15B | 14.07B | 11.46B | 9.29B | 8.48B |
| Total Current Liabilities | 29.77B | 28.34B | 29.16B | 24.21B | 23.97B | 21.30B |
| Long-Term Debt | 14.59B | 14.33B | 11.79B | 14.35B | 14.86B | 17.12B |
| Long-Term Leases | 1.69B | 1.47B | 1.65B | 1.75B | 1.90B | 1.84B |
| Pension & Post-Retirement Benefits | 1.44B | 1.99B | 2.21B | 2.04B | 2.95B | |
| Long-Term Deferred Tax Liabilities | 1.57B | 1.67B | 2.17B | 1.86B | 1.84B | 1.62B |
| Other Long-Term Liabilities | 9.43B | 7.85B | 8.19B | 7.73B | 6.96B | 6.39B |
| Total Liabilities | 57.05B | 55.09B | 54.94B | 52.11B | 51.57B | 51.21B |
| Common Stock | 72.88B | 2.44B | 2.53B | 2.53B | 2.52B | 2.53B |
| Additional Paid-In Capital | 1.00M | 313.00M | 125.00M | 532.00M | ||
| Treasury Stock | -1.07B | -840.00M | -1.18B | -706.00M | -939.00M | |
| Comprehensive Income & Other | 70.01B | 75.82B | 72.38B | 72.84B | 66.56B | |
| Total Common Equity | 72.88B | 71.38B | 77.51B | 74.04B | 74.78B | 68.68B |
| Minority Interest | 362.00M | 334.00M | 350.00M | 313.00M | 368.00M | 350.00M |
| Shareholders' Equity | 73.24B | 71.71B | 77.86B | 74.35B | 75.15B | 69.03B |
| Total Liabilities & Equity | 130.29B | 126.81B | 132.80B | 126.46B | 126.72B | 120.24B |
| Total Debt | 19.84B | 20.41B | 17.91B | 18.42B | 21.21B | 22.41B |
| Net Cash (Debt) | -13.88B | -12.74B | -10.36B | -9.60B | -8.33B | -12.31B |
| Net Cash Per Share | -11.48 | -10.39 | -8.25 | -7.64 | -6.63 | -9.78 |
| Filing Date Shares Outstanding | 1.20B | 1.21B | 1.25B | 1.25B | 1.25B | 1.25B |
| Total Common Shares Outstanding | 1.20B | 1.21B | 1.25B | 1.25B | 1.25B | 1.25B |
| Working Capital | 3.44B | 2.61B | 13.43B | 6.46B | 10.14B | 9.36B |
| Book Value Per Share | 60.73 | 59.10 | 61.83 | 59.17 | 59.70 | 54.83 |
| Tangible Book Value | 5.25B | 12.55B | 19.86B | 6.36B | 9.48B | 6.95B |
| Tangible Book Value Per Share | 4.38 | 10.39 | 15.84 | 5.08 | 7.57 | 5.55 |
| Land | 149.00M | 201.00M | 228.00M | 237.00M | 240.00M | |
| Buildings | 7.06B | 7.44B | 7.68B | 7.33B | 7.17B | |
| Machinery | 12.68B | 12.84B | 13.41B | 13.36B | 14.30B | |
| Construction In Progress | 3.58B | 3.57B | 3.45B | 3.00B | 3.10B |
Cash flow statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.18B | 7.81B | 5.56B | 5.40B | 8.37B | 6.22B |
| Depreciation & Amortization | 3.69B | 3.26B | 3.11B | 3.25B | 3.05B | 3.00B |
| Other Amortization | 112.00M | 112.00M | 105.00M | 119.00M | 97.00M | 119.00M |
| Loss (Gain) From Sale of Assets | -79.00M | -79.00M | -298.00M | -103.00M | -470.00M | -357.00M |
| Asset Writedown & Restructuring Costs | 2.31B | 2.31B | 369.00M | 1.06B | -42.00M | 231.00M |
| Loss (Gain) on Equity Investments | 290.00M | 290.00M | 82.00M | 293.00M | -45.00M | -15.00M |
| Stock-Based Compensation | 313.00M | 313.00M | 278.00M | 260.00M | 234.00M | 244.00M |
| Other Operating Activities | -684.00M | -5.29B | -43.00M | -1.46B | -879.00M | -389.00M |
| Change in Accounts Receivable | -1.20B | -1.20B | -28.00M | -472.00M | -500.00M | 185.00M |
| Change in Inventory | -39.00M | -39.00M | -477.00M | -866.00M | -918.00M | -357.00M |
| Change in Accounts Payable | 398.00M | 398.00M | 789.00M | 258.00M | 340.00M | 451.00M |
| Change in Other Net Operating Assets | 2.64B | 2.64B | -899.00M | 1.49B | 284.00M | 1.13B |
| Operating Cash Flow | 11.96B | 10.75B | 9.08B | 10.26B | 10.53B | 10.52B |
| Capital Expenditures | -1.99B | -1.76B | -1.73B | -1.62B | -1.53B | -1.48B |
| Sale of Property, Plant & Equipment | 815.00M | 847.00M | 1.46B | 807.00M | 1.34B | 676.00M |
| Cash Acquisitions | -9.39B | -9.39B | -1.90B | -2.54B | -987.00M | -5.59B |
| Sale (Purchase) of Intangibles | -1.03B | -1.78B | -1.46B | -1.29B | -574.00M | -565.00M |
| Investment in Securities | -684.00M | -684.00M | -623.00M | -92.00M | -353.00M | -269.00M |
| Other Investing Activities | 6.97B | 10.32B | -149.00M | -1.47B | 28.00M | -68.00M |
| Investing Cash Flow | -5.32B | -2.45B | -4.41B | -6.20B | -2.08B | -7.30B |
| Short-Term Debt Issued | 59.00M | 751.00M | 216.00M | |||
| Long-Term Debt Issued | 5.56B | 48.00M | 1.55B | |||
| Total Debt Issued | 5.56B | 5.56B | 59.00M | 799.00M | 1.76B | |
| Short-Term Debt Repaid | -1.10B | -414.00M | ||||
| Long-Term Debt Repaid | -2.96B | -953.00M | -3.94B | -3.00B | -2.39B | |
| Lease Payments | -333.00M | -333.00M | -282.00M | -253.00M | -280.00M | -149.00M |
| Total Debt Repaid | -4.05B | -4.05B | -953.00M | -3.94B | -3.00B | -2.80B |
| Net Debt Issued (Repaid) | 1.50B | 1.50B | -894.00M | -3.14B | -1.23B | -2.80B |
| Issuance of Common Stock | 177.00M | 177.00M | 187.00M | 195.00M | 188.00M | 186.00M |
| Repurchase of Common Stock | -5.03B | -5.03B | -302.00M | -593.00M | -497.00M | -382.00M |
| Common Dividends Paid | -9.70B | -4.77B | -4.70B | -4.45B | -4.17B | -4.01B |
| Other Financing Activities | 3.43B | -86.00M | -50.00M | -63.00M | -111.00M | -48.00M |
| Financing Cash Flow | -9.62B | -8.21B | -5.76B | -8.05B | -5.82B | -7.06B |
| Foreign Exchange Rate Adjustments | 25.00M | -47.00M | -13.00M | -32.00M | 8.00M | 15.00M |
| Miscellaneous Cash Flow Adjustments | 167.00M | -167.00M | ||||
| Net Cash Flow | -2.95B | 216.00M | -1.27B | -4.03B | 2.64B | -3.82B |
| Free Cash Flow | 9.97B | 8.99B | 7.35B | 8.64B | 9.00B | 9.04B |
| Free Cash Flow Margin | 19.56% | 19.24% | 16.59% | 21.02% | 22.32% | 23.09% |
| Free Cash Flow Per Share | 8.25 | 7.33 | 5.85 | 6.88 | 7.16 | 7.19 |
| Levered Free Cash Flow | 8.08B | 16.64B | -4.94B | 7.17B | 8.51B | 7.34B |
| Unlevered Free Cash Flow | 8.48B | 16.98B | -4.54B | 7.54B | 8.77B | 7.56B |
| Free Cash Flow After Leases | 9.64B | 8.65B | 7.07B | 8.39B | 8.72B | 8.89B |
| Cash Interest Paid | 485.00M | 485.00M | 587.00M | 559.00M | 380.00M | 334.00M |
| Cash Income Tax Paid | 2.88B | 2.88B | 3.29B | 2.62B | 2.45B | 1.28B |
| Change in Working Capital | 1.79B | 1.79B | -615.00M | 413.00M | -794.00M | 1.41B |
Ratios
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 108.20B | 118.18B | 121.10B | 124.41B | 120.41B | 126.46B |
| Enterprise Value | 124.15B | 133.58B | 138.97B | 139.16B | 136.11B | 140.17B |
| Last Close Price | 45.55 | 46.60 | 44.96 | 44.99 | 42.67 | 42.96 |
| PE Ratio | 23.55 | 12.88 | 21.04 | 20.84 | 13.46 | 17.87 |
| PS Ratio | 1.87 | 2.15 | 2.64 | 2.74 | 2.79 | 2.84 |
| PB Ratio | 1.30 | 1.40 | 1.50 | 1.51 | 1.50 | 1.61 |
| P/TBV Ratio | 18.14 | 8.02 | 5.89 | 17.71 | 11.89 | 16.00 |
| P/FCF Ratio | 9.69 | 11.20 | 15.92 | 13.03 | 12.52 | 12.29 |
| P/OCF Ratio | 8.08 | 9.36 | 12.88 | 10.97 | 10.70 | 10.57 |
| EV/Sales Ratio | 2.14 | 2.44 | 3.03 | 3.06 | 3.16 | 3.15 |
| EV/EBITDA Ratio | 7.56 | 9.00 | 11.51 | 11.37 | 9.73 | 10.95 |
| EV/EBIT Ratio | 9.89 | 11.79 | 15.13 | 15.50 | 12.27 | 14.39 |
| EV/FCF Ratio | 11.12 | 12.66 | 18.27 | 14.57 | 14.15 | 13.63 |
| Debt / Equity Ratio | 0.27 | 0.28 | 0.23 | 0.25 | 0.28 | 0.33 |
| Debt / EBITDA Ratio | 1.35 | 1.58 | 1.50 | 1.62 | 1.58 | 1.94 |
| Debt / FCF Ratio | 1.99 | 2.27 | 2.44 | 2.13 | 2.36 | 2.48 |
| Net Debt / Equity Ratio | 0.19 | 0.18 | 0.13 | 0.13 | 0.11 | 0.18 |
| Net Debt / EBITDA Ratio | 0.96 | 1.01 | 0.89 | 0.87 | 0.64 | 1.09 |
| Net Debt / FCF Ratio | 1.39 | 1.42 | 1.41 | 1.11 | 0.93 | 1.36 |
| Asset Turnover | 0.39 | 0.36 | 0.34 | 0.33 | 0.33 | 0.33 |
| Inventory Turnover | 0.54 | 1.32 | 1.38 | 1.35 | 1.34 | 1.44 |
| Quick Ratio | 0.21 | 0.66 | 0.62 | 0.82 | 0.99 | 0.93 |
| Current Ratio | 1.12 | 1.09 | 1.46 | 1.27 | 1.42 | 1.44 |
| Return on Equity (ROE) | 5.71% | 6.65% | 7.30% | 6.82% | 11.21% | 9.49% |
| Return on Assets (ROA) | 5.31% | 4.65% | 4.28% | 4.01% | 5.25% | 4.56% |
| Return on Invested Capital (ROIC) | 9.02% | 9.24% | 8.47% | 8.09% | 10.19% | 8.89% |
| Return on Capital Employed (ROCE) | 11.00% | 9.80% | 8.60% | 7.90% | 10.10% | 8.70% |
| Earnings Yield | 4.25% | 7.76% | 4.75% | 4.80% | 7.43% | 5.60% |
| FCF Yield | 10.31% | 8.93% | 6.28% | 7.68% | 7.99% | 8.13% |
| Dividend Yield | 5.31% | 4.94% | 4.20% | 4.18% | 3.96% | 3.75% |
| Payout Ratio | 133.01% | 61.08% | 84.60% | 82.48% | 49.79% | 64.41% |
| Buyback Yield / Dilution | 2.18% | 2.43% | 0.02% | 0.04% | 0.08% | 0.18% |
| Total Shareholder Return | 7.49% | 7.37% | 4.23% | 4.22% | 4.04% | 3.93% |