Sanofi SA SNY

Health CarePharmaceuticalsFrance

Last close 45.55 USD on Nov 2, 2026, −0.8% year to date

Quant rating

Quant rating C Rank 125 of 211 in Health Care

Growth C 118 of 211
Valuation C 98 of 211
Quality C 105 of 211
Revisions D 165 of 211
Momentum C 86 of 211

Wall Street consensus Buy (2.22)Average target 54.26 USD +19.1%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 108.7B
Enterprise value: 124.6B
52-week range: 39.07 – 52.68
3-year range: 39.07 – 59.42
Dividend yield: 5.46%
Beta (5 years): 0.27
Shares outstanding: 1,208M
Next earnings: Feb 2, 2027

About the company

Sanofi SA is a France-based healthcare company based in France. The Company focuses on patient needs and engages in the research, development, manufacture, and marketing of therapeutic solutions. Its three operating segments are: Pharmaceuticals, Consumer Healthcare (CHC), and Vaccines. The Pharmaceuticals includes: Immunology, Multiple Sclerosis / Neurology, Oncology, Rare Diseases, Rare Blood Disorders, Cardiovascular, Diabetes, Established Prescription Products. The Vaccines segment comprises, for all geographical territories, the commercial operations of Sanofi Pasteur, together with research, development, and production activities dedicated to vaccines. The CHC segment comprises the commercial operations for Sanofi’s Consumer Healthcare products, together with research, development and production activities dedicated to those products. The Company’s products developed in collaboration or franchise include Dupixent, Aubagio, Lemtrada, Cerezyme, Lumizyme, Jevtana, Fabrazyme.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	54,868	45,849	45,929	48,576	44,534	–
Revenue growth	19.7%	−0.2%	−5.4%	9.1%	−2.4%	3.8%
EPS (basic, normalized)	4.42	3.85	4.38	4.34	3.88	–
EPS growth	14.7%	−12.2%	1.1%	11.9%	–	–
Gross margin	72.1%	70.2%	69.7%	69.8%	68.7%	70.1%
Net margin	10.6%	12.4%	12.2%	18.4%	15.9%	13.9%
ROE	6.6%	7.3%	6.8%	11.7%	9.4%	8.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	6,758
Current ratio	1.12x
Long-term debt (mil)	18,442
Net debt (mil)	16,132
Total equity (mil)	82,557
Net debt / equity	0.20x
Net debt / EBITDA	1.05x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	54,868	+19.7%	2.3x	15,320	+5.2%	8.1x	4.42	+14.7%	10.3x
2026	55,820	+1.7%	2.2x	17,170	+12.1%	7.3x	4.96	+12.4%	9.2x
2027	58,992	+5.7%	2.1x	18,144	+5.7%	6.9x	5.34	+7.5%	8.5x
2028	61,721	+4.6%	2.0x	19,590	+8.0%	6.4x	5.73	+7.3%	8.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	55,820	−0.6%	+0.8%	+1.6%	4.96	−1.5%	−0.2%	−1.8%
2027	58,992	−1.2%	−0.6%	+0.3%	5.34	−1.8%	0.0%	−2.5%
2028	61,721	−1.3%	−0.8%	+0.2%	5.73	−2.9%	−2.0%	−6.2%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	11,360	11,566	14,761	11,265	10,414	11,330	14,528	13,158	12,299	13,479
Sales mean (mil)	11,135	11,239	14,087	11,157	10,951	11,571	14,422	12,921	12,069	12,711
Surprise	+2.0%	+2.9%	+4.8%	+1.0%	−4.9%	−2.1%	+0.7%	+1.8%	+1.9%	+6.0%
EPS reported	0.97	0.93	1.57	0.70	0.94	0.90	1.70	0.89	1.10	1.22
EPS mean	0.94	0.86	–	0.74	0.95	1.00	1.59	1.03	1.03	1.14
Surprise	+2.8%	+8.3%	–	−5.7%	−1.3%	−9.8%	+7.2%	−13.8%	+7.1%	+6.6%

Peer comparison Pharmaceuticals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SNY Sanofi SA	108.7B	1.05x	10.6%	1.34x	9.2x	8.5x	7.3x	6.9x
ABBV AbbVie Inc.	510.4B	2.63x	6.8%	−86.00x	20.7x	17.8x	17.6x	15.4x
Mean		1.84x	8.7%	−42.33x	14.9x	13.2x	12.4x	11.1x
Median		1.84x	8.7%	−42.33x	14.9x	13.2x	12.4x	11.1x

Technical analysis

1M+14.1%
3M+5.7%
1Y−4.9%
3Y+12.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Sanofi SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	54,868	45,849	45,929	48,576	44,534	45,639
Cost of revenue	15,326	13,671	13,936	14,656	13,932	14,850
Gross profit	39,542	32,178	31,993	33,919	30,603	30,789
Selling, general & administrative expenses	11,097	9,417	9,748	11,141	10,751	11,363
Research & development	9,205	7,654	7,178	7,176	6,467	6,751
Depreciation/amortization	2,203	1,903	2,225	2,290	1,911	2,167
Interest expense (income), operating	122	99.4	103	−28.9	4.5	−9,167
Unusual expense (income)	3,698	1,402	1,624	−622	267	949
Other operating expenses	5,766	4,195	3,434	2,559	1,964	1,490
Operating income	7,451	7,508	7,681	11,404	9,238	17,236
Net interest income (expense)	−256	−230	−71.7	−179	−329	−321
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	57.6	−344	−711	−71.7	−44.3	−87.9
Net income before taxes	7,253	6,934	6,899	11,154	8,865	16,827
Provision for taxes	1,225	1,247	1,122	2,147	1,771	2,207
Minority interest	−44.6	−60.0	−39.7	−121	−63.7	−44.0
Equity in affiliates	−182	62.1	−150	72.8	44.3	438
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	5,801	5,690	5,586	8,959	7,074	15,015
Extraordinary items	3,375	66.3	373	–	0	0
Net income	9,176	5,756	5,959	8,959	7,074	15,015
EBIT, normalized	11,499	9,128	9,562	9,937	9,509	9,018
EBITDA, normalized	15,223	12,810	13,664	13,874	13,056	13,001
Basic EPS, normalized	4.42	3.85	4.38	4.34	3.88	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Sanofi SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	9,944	8,207	9,910	14,341	12,678	18,094
Receivables	12,973	11,004	12,184	11,500	11,126	12,156
Total inventory	11,996	9,764	10,667	9,589	9,907	10,200
Prepaid expenses	1,078	927	848	764	699	641
Other current assets	361	14,190	238	220	335	70.8
Total current assets	36,353	44,092	33,847	36,415	34,745	41,161
Property, plant & equipment	13,520	12,011	13,038	12,504	13,614	12,901
Goodwill	48,507	44,916	54,522	53,395	54,630	54,182
Intangibles	30,843	23,428	26,838	23,159	24,336	22,400
Long-term investments	8,058	3,374	2,942	2,959	2,757	2,600
Note receivable	462	162	652	484	551	656
Other long-term assets	11,189	9,505	7,725	6,703	6,058	5,833
Total assets	148,932	137,486	139,565	135,619	136,691	139,733
Liabilities
Accounts payable	8,645	7,818	8,087	7,291	7,025	6,467
Payable/accrued	–	–	–	–	–	–
Accrued expenses	2,287	1,997	2,324	2,310	2,417	2,494
Short-term debt	284	216	224	180	215	348
Current portion of long-term debt	5,121	4,398	2,356	4,584	3,709	3,315
Other current liabilities	16,954	15,763	13,723	11,282	10,842	10,884
Total current liabilities	33,291	30,192	26,715	25,646	24,208	23,508
Long-term debt	18,457	13,910	17,770	17,938	21,556	25,252
Minority interest	392	362	345	394	398	178
Other liabilities	12,961	12,779	13,025	11,606	12,453	13,724
Total liabilities	65,101	57,243	57,855	55,584	58,615	62,661
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	2,865	2,615	2,792	2,699	2,873	3,075
Additional paid-in capital	1.2	0	345	71,553	72,238	73,902
Retained earnings (accumulated deficit)	78,547	70,592	74,492	–	–	–
Treasury stock	−1,259	−870	−1,307	−756	−1,067	−861
Other equity	3,677	7,906	5,388	6,538	4,033	955
Total equity	83,831	80,243	81,710	80,034	78,077	77,071
Total liabilities & shareholders' equity	148,932	137,486	139,565	135,619	136,691	139,733

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Sanofi SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	9,176	5,756	5,959	8,959	7,074	15,015
Depreciation, depletion & amortization	6,669	3,713	4,888	3,660	3,809	4,483
Deferred taxes	−2,865	−830	−1,361	−619	−405	−270
Non-cash items	−2,267	1,227	1,378	21.4	−119	−9,772
Changes in working capital	2,108	−637	456	−757	1,602	−397
Cash from operations	12,822	9,229	11,321	11,265	11,961	9,060
Investing activities
Capital expenditures	−4,155	−3,308	−3,207	−2,356	−2,322	−2,544
Other investing cash flows	1,281	−1,255	−3,635	135	−5,974	6,964
Cash from investing	−2,874	−4,563	−6,842	−2,221	−8,296	4,420
Financing activities
Financing cash flow items	−101	−51.8	−69.5	−106	−54.6	−53.7
Cash dividends paid	−5,605	−4,870	−4,915	−4,461	−4,556	−4,808
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−3,933	−1,045	−3,901	−1,663	−3,410	−3,058
Cash from financing	−9,639	−5,966	−8,886	−6,230	−8,021	−7,920
Foreign exchange effects	−55.2	−13.5	−35.3	8.6	17.1	−78.2
Net change in cash	254	−1,314	−4,443	2,823	−4,339	5,481
Free cash flow	8,667	5,921	8,114	8,909	9,639	6,516

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.