# Repligen Corp (RGEN) — Stock CV

Repligen Corp 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.

> 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.

## Identity

- **Ticker**: RGEN
- **Sector**: Healthcare
- **Industry**: Biological Products, (No Diagnostic Substances)
- **Headquarters**: WALTHAM, MA
- **Employees**: 2 000
- **Website**: https://www.repligen.com
- **Market cap**: $11.0B
- **Last price**: $173.88
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $785M
- **Net income**: $41.5M
- **Free cash flow**: $112M
- **Net cash**: $225M
- **P/E**: 265.8
- **Revenue growth (YoY)**: 15.4%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 10 |
| Growth | 31 |
| Profitability | 28 |
| Health | 75 |
| Quality | 84 |
| Moat | 55 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +15.4% YoY
- [x] Profitable — $41.5M TTM
- [ ] Profit growing — -35.6% YoY
- [x] Generates cash — $112M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $11.0B market cap
- [x] Not printing shares — +5.0% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 50/100
- [ ] Valuation not extreme — P/E 265.8

## Experience (career milestones)

- **FY2022** — Best year on record: $186M net income
- **FY2016** — First recorded profitable year: $11.7M net income
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2011** — Repligen acquired bioproduction assets from Novozymes
- **1981** — Repligen was founded in 1981 by Alexander Rich and Paul Schimmel and was incorporated in Delaware

## 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $671M | $128M | $51.9M |
| FY2022 | $802M | $186M | $87.2M |
| FY2023 | $632M | $35.6M | $77.7M |
| FY2024 | $634M | -$25.5M | $150M |
| FY2025 | $738M | $48.9M | $93.9M |

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Source: https://stockcv.com/RGEN — derived from company filings; may be delayed or incomplete. Information, not investment advice.