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Sells bioprocessing tools and consumables (filtration, chromatography) used to manufacture biologic drugs.
Sells bioprocessing tools and consumables (filtration, chromatography) used to manufacture biologic drugs.
Sells consumables and equipment that customers reorder every time they make a batch of a drug, so revenue rises when a drug that specifies its parts reaches higher volumes. Growth has come largely through buying other makers of filtration and chromatography components.
Moat: narrow (switching costs, process know-how, customer qualification). Once qualified into a customer's biologics manufacturing process, switching suppliers requires costly re-validation.
Headquarters: Waltham, Massachusetts, United States · Founded: 1981 · Employees: 2,000
Size Repligen (RGEN) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $11.1B, the 728th largest of 3,117 United States companies the cockpit tracks. Shares closed at $173.49 on 6 Nov 2026.
Performance Over six months the shares gained 40.5%, against +3.8% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 13.8% over the last twelve months (peer median +18.2%); the operating margin is 8.6% (peer median 17.0%).
Valuation It trades at 71.3× forward earnings against a peer median of 30.9× (4th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 56% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is +41 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.3 points below its cost of capital (10.1% WACC).
Credit Repligen has 1 bond outstanding ($600M).
Short interest Short interest is 11.2% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $806M | $738M | $634M | $632M | $802M |
| Revenue growth | — | +16% | 0% | -21% | — |
| Gross profit | $394M | $351M | $284M | $277M | $429M |
| EBITDA | $167M | $158M | $109M | $135M | $253M |
| Net income | -$11.8M | $48.9M | -$25.5M | $35.6M | $186M |
| Free cash flow | $105M | $91.7M | $145M | $74.9M | $38.7M |
| Capital expenditure | $24.6M | $25.7M | $32.9M | $39.0M | $133M |
| Total debt | $692M | $690M | $686M | $712M | $423M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Repligen RGEN | $11.1B | +41% | +14% | 9% | 71.3× | 56.4% |
| Sartorius Stedim Biotech DIM.PA | $24.7B | +38% | +4% | 19% | 45.5× | 33.1% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RGEN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.9% | +2.7% | 8th highest of 21 |
| 6-month return | +40.5% | +3.8% | 3rd highest of 21 |
| Distance from 52-week high | -12.8% | -11.6% | 11th highest of 21 |
| Revenue growth (TTM) | +13.8% | +18.2% | 9th lowest of 20 |
| Operating margin | 8.6% | 17.0% | 7th lowest of 20 |
| Forward P/E | 71.3× | 30.9× | 4th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 56.4% | 25.8% | most demanding of 14 |
| Growth delivered (Del g) | +15.0% | +7.4% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | +41.4 pp | -2.5 pp | 2nd most demanding of 14 |
| ROIC minus cost of capital | -7.3 pp | +1.6 pp | 3rd lowest of 18 |
| EV / EBITDA | 65.4× | 20.3× | 2nd most expensive of 9 |
| Net debt / EBITDA | -1.0× | 0.9× | 2nd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Repligen RGEN | United States | $11.1B | +41% | +14% | 9% | 71.3× | 56.4% | +15.0% |
| Mankind Pharma MANKIND.NS | India | $11.1B | +7% | +13% | 21% | 43.2× | 27.6% | +18.1% |
| Pharmaron Beijing 300759.SZ | China | $11.3B | +57% | +18% | 14% | 42.3× | n/a | n/a |
| Akeso 9926.HK | Hong Kong | $10.2B | -38% | +42% | -25% | n/a | n/a | n/a |
| Dr. Reddy's Laboratories DRREDDY.NS | India | $12.1B | +5% | -4% | 9% | 31.8× | 30.1% | +12.1% |
| Zhangzhou Pientzehuang Pharmaceutical 600436.SS | China | $12.3B | -5% | -19% | 19% | 42.1× | 25.8% | +6.8% |
| Recordati REC.MI | Italy | $12.3B | +3% | +9% | 30% | 16.7× | 1.9% | +12.6% |
| Spyre Therapeutics SYRE | United States | $9.86B | +38% | n/a | n/a | n/a | n/a | n/a |
| Zydus Lifesciences ZYDUSLIFE.NS | India | $12.7B | +27% | +24% | 17% | 29.8× | n/a | n/a |
| Sbp 1177.HK | Hong Kong | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% | +5.4% |
| Madrigal Pharmaceuticals MDGL | United States | $9.28B | -22% | +93% | -11% | 79.5× | n/a | n/a |
| Laurus Labs LAURUSLABS.NS | India | $13.3B | +94% | +23% | 24% | 77.0× | 50.9% | +7.3% |
| TG Therapeutics TGTX | United States | $9.16B | +40% | +76% | 17% | 30.9× | 50.3% | +426.7% |
| ImmunityBio IBRX | United States | $9.15B | +1% | +193% | -152% | n/a | n/a | n/a |
| Sichuan Kelun-Biotech Biopharmaceutical 6990.HK | Hong Kong | $13.9B | 0% | +44% | -38% | 1,255.9× | 56.2% | +33.7% |
| Shanghai Fosun Pharmaceutical (Group) 600196.SS | China | $8.70B | -5% | +8% | 6% | 17.0× | 4.1% | +6.6% |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |
| Shanghai Pharmaceuticals 2607.HK | Hong Kong | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% | +7.4% |
| Yunnan Baiyao 000538.SZ | China | $14.7B | +4% | +5% | 11% | 18.0× | -0.5% | +4.7% |
| Ipsen IPN.PA | France | $14.7B | -4% | +14% | 30% | 10.9× | -7.3% | +7.2% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
Repligen has 1 bond outstanding with $600M face value.