Repligen Corp key statistics and ratios

In fiscal 2025, Repligen Corp had return on equity of 2.4%, an operating margin of 7.5%, debt equal to 25.7% of equity and a current ratio of 8.37. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Repligen Corp: financial ratios, annual
Fiscal year	2010Mar 2010	2011Mar 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Gross margin	—	—	—	—	—	—	54.9%	52.5%	55.4%	55.9%	57.2%	58.3%	56.9%	44.0%	43.3%	52.3%	53.5%
Operating margin	−27.5%	−1.4%	17.8%	33.6%	16.8%	16.5%	15.3%	9.9%	13.4%	13.4%	19.1%	24.9%	28.0%	7.5%	−5.5%	7.5%	2.3%
Net margin	−19.4%	—	22.7%	23.6%	12.9%	11.2%	11.2%	20.1%	8.6%	7.9%	16.4%	19.1%	23.2%	5.6%	−4.0%	6.6%	−1.5%
Free-cash-flow margin	−14.5%	9.9%	19.6%	31.2%	20.1%	14.9%	3.1%	8.5%	11.4%	18.0%	11.0%	7.7%	10.9%	12.3%	23.6%	12.7%	13.2%
Return on equity	−6.1%	—	18.7%	19.1%	8.3%	8.0%	8.0%	7.5%	2.8%	2.6%	4.6%	7.8%	10.2%	1.8%	−1.3%	2.4%	−0.6%
Return on assets	—	—	16.7%	14.9%	6.6%	6.8%	5.4%	5.5%	2.2%	2.0%	3.6%	6.0%	7.6%	1.3%	−0.9%	1.7%	−0.4%
Asset turnover	—	0.38	0.74	0.63	0.51	0.61	0.48	0.27	0.26	0.25	0.22	0.31	0.33	0.24	0.22	0.26	0.27
Current ratio	—	12.08	6.16	7.64	7.58	5.50	8.74	9.63	2.12	13.28	2.83	2.48	2.47	6.74	8.41	8.37	9.88
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	56.5%	16.8%	16.8%	27.1%	18.8%	16.8%	14.9%	29.5%	26.6%	25.7%	26.6%
Interest cover (operating income ÷ interest)	n/m	n/m	195.4x	—	—	—	4.2x	2.2x	3.9x	3.9x	6.5x	14.8x	193.3x	24.5x	n/m	2.6x	0.8x
Effective tax rate	—	—	−25.6%	30.1%	26.6%	30.4%	0.1%	—	22.5%	18.1%	−1.2%	16.4%	15.1%	37.2%	—	21.6%	—
R&D as % of revenue	67.5%	45.9%	16.8%	10.8%	8.8%	6.9%	7.0%	6.1%	8.2%	7.2%	5.5%	5.1%	5.5%	6.8%	6.8%	7.3%	7.1%
SG&A as % of revenue	33.7%	29.4%	21.2%	18.6%	27.0%	29.6%	29.5%	36.5%	33.9%	35.4%	32.7%	27.4%	26.9%	34.6%	41.5%	39.4%	38.7%
Capital spending as % of revenue	2.8%	1.9%	2.0%	6.8%	8.8%	3.1%	4.1%	3.9%	5.5%	6.8%	6.1%	10.0%	10.6%	5.7%	4.0%	3.2%	2.9%
Free cash flow ÷ net income	—	—	86.0%	132.3%	156.7%	133.0%	27.4%	42.3%	133.2%	227.5%	67.0%	40.5%	46.9%	218.3%	—	192.0%	—
Dividends and buybacks ÷ free cash flow	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	18.5%	0.0%	0.0%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Repligen Corp: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Gross margin	23.2%	54.0%	51.0%	53.2%	51.2%	55.7%	53.9%	53.0%
Operating margin	−21.8%	3.9%	7.6%	8.9%	9.0%	8.2%	6.8%	−14.1%
Net margin	−20.2%	3.4%	8.2%	7.9%	6.7%	4.3%	2.5%	−18.4%
Free-cash-flow margin	20.1%	6.8%	11.8%	23.0%	8.9%	12.1%	13.4%	18.2%
Current ratio	8.41	6.79	8.59	8.36	8.37	9.20	9.05	9.88
Debt to equity	26.6%	—	—	25.8%	25.7%	26.0%	26.1%	26.6%
R&D as % of revenue	7.0%	7.2%	7.7%	7.5%	7.0%	7.4%	7.1%	6.9%
SG&A as % of revenue	36.1%	41.8%	38.9%	39.0%	38.0%	39.4%	37.5%	39.9%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 7 checks passed · September 30, 2026

What it owns · $2.9bn

Short-term assets $1.2bnLonger-term assets $1.7bn

What it owes, and who funded it · $2.9bn

Short-term liabilities $126mLonger-term liabilities $709mShareholders' equity $2.1bn

Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $126m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.2bn short-term assets against $709m of longer-dated liabilities.
More cash than debt $727m of cash against $556m of debt.
Debt below 40% of shareholders' equity Debt is 27% of equity.
Debt burden no higher than five years ago Debt to equity moved from 14% to 27% over five years.
A year's operating cash flow covers at least 20% of debt $130m of operating cash flow against $556m of debt.
Operating profit covers interest at least five times over Operating income of $18m against $22m of interest.

From Repligen Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

39 /100

Weak moat

How hard Repligen's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 2 / 20

Cash operating profit has been a median 3.3% of total assets over 9 years.
Pricing power 16 / 20

Gross margin has been a median 55.3%, moving by 4.8 percentage points (standard deviation) across 9 years.
Durability 3 / 20

Operating margin has been a median 12.5%; its worst year was 0.1%.
Cash conversion 17 / 20

Free cash flow was positive in 9 of 10 years, at a median 15.0% of revenue.
Discipline 7 / 20

The diluted share count rose 25.0% over five years; stock-based pay has been a median 4.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (44 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: NEO vs RGEN RGEN vs TXG AZTA vs RGEN RGEN vs TECH

More: Life Sciences Tools & Services stocks compared, Health Care sector, rankings of US companies

Figures from Repligen Corp's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Repligen Corp.