Repligen (RGEN)
Market Price (11/9/2026): $173.46 | Market Cap: $11.1 BilSector: Health Care | Industry: Biotechnology
Repligen (RGEN)
Market Price (11/9/2026): $173.46Market Cap: $11.1 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, mRNA Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -3.6%, 3Y Excs Rtn is -42% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 320x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 76x Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6% Key risksRGEN key risks include [1] a dependence on a limited number of suppliers for critical components, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Gene Editing & Therapy, mRNA Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -3.6%, 3Y Excs Rtn is -42% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 320x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 76x |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6% |
| Key risksRGEN key risks include [1] a dependence on a limited number of suppliers for critical components, Show more. |
Qualitative Assessment
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Updated on 11/5/2026
Repligen (RGEN) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Financial Performance and Upgraded Full-Year Guidance.
Repligen reported record revenue of $209.3 million for fiscal Q3 2026, a year-over-year increase of 11% (12.5% on an organic basis), which surpassed analyst expectations for adjusted earnings per share. The company also raised its full-year fiscal 2026 revenue guidance to a range of $844 million to $852 million, representing 14.5% to 15.5% reported growth and 12% to 13% organic growth, indicating continued positive momentum.
2. Strategic Acquisition of BioLife Solutions.
The completion of the BioLife Solutions acquisition on October 6, 2026, was a significant strategic move that positions Repligen for enhanced growth in the high-growth cell therapy market. This acquisition is expected to contribute approximately $24 million to Repligen's revenue in fiscal Q4 2026 and is anticipated to strengthen the company's long-term growth profile and earnings power.
Show more
Repligen (RGEN) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Financial Performance and Upgraded Full-Year Guidance.
Repligen reported record revenue of $209.3 million for fiscal Q3 2026, a year-over-year increase of 11% (12.5% on an organic basis), which surpassed analyst expectations for adjusted earnings per share. The company also raised its full-year fiscal 2026 revenue guidance to a range of $844 million to $852 million, representing 14.5% to 15.5% reported growth and 12% to 13% organic growth, indicating continued positive momentum.
2. Strategic Acquisition of BioLife Solutions.
The completion of the BioLife Solutions acquisition on October 6, 2026, was a significant strategic move that positions Repligen for enhanced growth in the high-growth cell therapy market. This acquisition is expected to contribute approximately $24 million to Repligen's revenue in fiscal Q4 2026 and is anticipated to strengthen the company's long-term growth profile and earnings power.
Show more
Updated on 11/5/2026
Repligen (RGEN) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Financial Performance and Upgraded Full-Year Guidance.
Repligen reported record revenue of $209.3 million for fiscal Q3 2026, a year-over-year increase of 11% (12.5% on an organic basis), which surpassed analyst expectations for adjusted earnings per share. The company also raised its full-year fiscal 2026 revenue guidance to a range of $844 million to $852 million, representing 14.5% to 15.5% reported growth and 12% to 13% organic growth, indicating continued positive momentum.
2. Strategic Acquisition of BioLife Solutions.
The completion of the BioLife Solutions acquisition on October 6, 2026, was a significant strategic move that positions Repligen for enhanced growth in the high-growth cell therapy market. This acquisition is expected to contribute approximately $24 million to Repligen's revenue in fiscal Q4 2026 and is anticipated to strengthen the company's long-term growth profile and earnings power.
3. Robust Demand in Key Product Segments and Capital Equipment.
Repligen experienced strong demand across several key product franchises in fiscal Q3 2026, including a more than 50% surge in Chromatography revenue and over 40% growth in Proteins. Additionally, capital equipment orders increased at a mid-teens percentage year-over-year, marking the strongest growth in this segment in five years, signaling a healthy recovery in bioprocessing demand.
4. Positive Analyst Sentiment and Increased Price Targets.
Following the strong fiscal Q3 results and raised guidance, several Wall Street analysts reiterated their "Buy" or "Strong Buy" ratings and increased their price targets for Repligen. For example, RBC Capital raised its price target to $200 from $185, contributing to investor confidence and the stock's upward trend.
Show less
Repligen (RGEN) stock has gained about 25% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q3 2026 Financial Performance and Upgraded Full-Year Guidance.
Repligen reported record revenue of $209.3 million for fiscal Q3 2026, a year-over-year increase of 11% (12.5% on an organic basis), which surpassed analyst expectations for adjusted earnings per share. The company also raised its full-year fiscal 2026 revenue guidance to a range of $844 million to $852 million, representing 14.5% to 15.5% reported growth and 12% to 13% organic growth, indicating continued positive momentum.
2. Strategic Acquisition of BioLife Solutions.
The completion of the BioLife Solutions acquisition on October 6, 2026, was a significant strategic move that positions Repligen for enhanced growth in the high-growth cell therapy market. This acquisition is expected to contribute approximately $24 million to Repligen's revenue in fiscal Q4 2026 and is anticipated to strengthen the company's long-term growth profile and earnings power.
3. Robust Demand in Key Product Segments and Capital Equipment.
Repligen experienced strong demand across several key product franchises in fiscal Q3 2026, including a more than 50% surge in Chromatography revenue and over 40% growth in Proteins. Additionally, capital equipment orders increased at a mid-teens percentage year-over-year, marking the strongest growth in this segment in five years, signaling a healthy recovery in bioprocessing demand.
4. Positive Analyst Sentiment and Increased Price Targets.
Following the strong fiscal Q3 results and raised guidance, several Wall Street analysts reiterated their "Buy" or "Strong Buy" ratings and increased their price targets for Repligen. For example, RBC Capital raised its price target to $200 from $185, contributing to investor confidence and the stock's upward trend.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 23.0% change in RGEN stock from 7/31/2026 to 11/8/2026 was primarily driven by a 20.2% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 141.01 | 173.49 | 23.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 785 | 806 | 2.6% |
| P/S Multiple | 10.1 | 12.2 | 20.2% |
| Shares Outstanding (Mil) | 56 | 57 | -0.2% |
| Cumulative Contribution | 23.0% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| RGEN | 23.0% | |
| Market (SPY) | -1.6% | 39.1% |
| Sector (XLV) | 13.7% | 32.1% |
Fundamental Drivers
The 46.6% change in RGEN stock from 4/30/2026 to 11/8/2026 was primarily driven by a 35.0% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.31 | 173.49 | 46.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 738 | 806 | 9.1% |
| P/S Multiple | 9.0 | 12.2 | 35.0% |
| Shares Outstanding (Mil) | 56 | 57 | -0.4% |
| Cumulative Contribution | 46.6% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| RGEN | 46.6% | |
| Market (SPY) | 2.6% | 21.6% |
| Sector (XLV) | 27.1% | 29.9% |
Fundamental Drivers
The 16.4% change in RGEN stock from 10/31/2025 to 11/8/2026 was primarily driven by a 19.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 149.06 | 173.49 | 16.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 674 | 806 | 19.5% |
| P/S Multiple | 12.4 | 12.2 | -2.1% |
| Shares Outstanding (Mil) | 56 | 57 | -0.6% |
| Cumulative Contribution | 16.4% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| RGEN | 16.4% | |
| Market (SPY) | 8.7% | 36.2% |
| Sector (XLV) | 29.8% | 36.5% |
Fundamental Drivers
The 28.9% change in RGEN stock from 10/31/2023 to 11/8/2026 was primarily driven by a 23.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 134.56 | 173.49 | 28.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 653 | 806 | 23.5% |
| P/S Multiple | 11.5 | 12.2 | 5.9% |
| Shares Outstanding (Mil) | 56 | 57 | -1.4% |
| Cumulative Contribution | 28.9% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| RGEN | 28.9% | |
| Market (SPY) | 81.9% | 43.7% |
| Sector (XLV) | 55.4% | 41.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RGEN Return | 38% | -36% | 6% | -20% | 14% | 6% | -9% |
| Peers Return | 48% | -19% | -4% | -3% | -1% | 19% | 30% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| RGEN Win Rate | 67% | 25% | 50% | 33% | 58% | 55% | |
| Peers Win Rate | 79% | 40% | 50% | 46% | 50% | 59% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| RGEN Max Drawdown | -27% | -47% | -42% | -43% | -38% | -40% | |
| Peers Max Drawdown | -16% | -32% | -32% | -20% | -35% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: DHR, TMO, TECH, A. See RGEN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | RGEN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.4% | 23.1% |
| Time to Breakeven | 183 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -34.6% | -9.5% |
| % Gain to Breakeven | 52.8% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.4% | -6.7% |
| % Gain to Breakeven | 35.9% | 7.1% |
| Time to Breakeven | 211 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -22.2% | -33.7% |
| % Gain to Breakeven | 28.5% | 50.9% |
| Time to Breakeven | 57 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.7% | -19.2% |
| % Gain to Breakeven | 15.9% | 23.8% |
| Time to Breakeven | 24 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -15.2% | -3.7% |
| % Gain to Breakeven | 17.9% | 3.9% |
| Time to Breakeven | 7 days | 6 days |
In The Past
Repligen's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.4% gain to breakeven.
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| Event | RGEN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -27.8% | -18.8% |
| % Gain to Breakeven | 38.4% | 23.1% |
| Time to Breakeven | 183 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -34.6% | -9.5% |
| % Gain to Breakeven | 52.8% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -26.4% | -6.7% |
| % Gain to Breakeven | 35.9% | 7.1% |
| Time to Breakeven | 211 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -22.2% | -33.7% |
| % Gain to Breakeven | 28.5% | 50.9% |
| Time to Breakeven | 57 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -42.3% | -12.2% |
| % Gain to Breakeven | 73.2% | 13.9% |
| Time to Breakeven | 444 days | 62 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -47.4% | -53.4% |
| % Gain to Breakeven | 90.0% | 114.4% |
| Time to Breakeven | 1254 days | 1085 days |
In The Past
Repligen's stock fell -27.8% during the 2025 US Tariff Shock. Such a loss loss requires a 38.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Repligen (RGEN)
Repligen Corporation (RGEN) is a global life sciences company that develops and commercializes essential bioprocessing technologies and systems. These solutions are critical components and tools used throughout the manufacturing process of biological drugs, also known as biologics. The company's innovations help pharmaceutical and biotechnology firms worldwide enhance the efficiency and effectiveness of producing advanced medicines.
Repligen's product portfolio spans three core areas: chromatography, filtration, and process analytics. Key offerings include Protein A ligands and OPUS pre-packed columns, which are vital for purifying biologics. Its filtration products, such as XCell Alternating Tangential Flow (ATF) systems and TangenX flat sheet cassettes, are utilized for cell culture processing, concentration, and formulation. Additionally, Repligen provides advanced process analytics tools, like SoloVPE slope spectroscopy systems, for real-time measurement and quality control, alongside cell culture growth factors and ELISA test kits.
The company primarily serves a diverse customer base within the biopharmaceutical and life sciences sectors. Its clients include major biopharmaceutical and diagnostics companies, laboratory researchers, and Contract Manufacturing Organizations (CMOs) that produce drugs for other entities. Repligen operates and delivers its specialized bioprocessing solutions across North America, Europe, the Asia Pacific, and other international markets.
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1. Intel for biological drug manufacturing
2. A specialized W.W. Grainger for biopharmaceutical manufacturing equipment and supplies
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- Protein A Ligands: Binding components used in Protein A affinity chromatography resins.
- Cell Culture Growth Factor Products: Products that support and enhance cell growth in bioprocessing.
- OPUS Pre-packed Chromatography Columns: Columns used for the purification of biologics.
- OPUS Smaller-scale Columns: Used for high throughput process development screening, viral clearance validation, and scale-down validation.
- ELISA Test Kits: Diagnostic kits used for detecting and quantifying substances.
- CaptivA Chromatography Resins: Resins employed in chromatography for separation and purification processes.
- XCell Alternating Tangential Flow (ATF) Systems: Filtration devices utilized in upstream perfusion and cell culture processing.
- TangenX Flat Sheet Cassettes: Used in downstream biologic drug concentration and formulation processes.
- KrosFlo Tangential Flow Filtration (TFF) Systems: Systems designed for tangential flow filtration and tangential flow depth filtration.
- Spectra/Por Dialysis Products: Laboratory and process products for dialysis.
- SpectraFlo Dynamic Dialysis Systems: Systems used for dynamic dialysis applications.
- ProConnex Single-use Hollow Fiber: Single-use hollow fiber products for bioprocessing.
- SoloVPE, FlowVPE, and FlowVPX Slope Spectroscopy Systems: Process analytics systems used for real-time measurement and analysis.
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Navigo Proteins GmbH
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Olivier Loeillot, President and Chief Executive Officer
Olivier Loeillot became President and Chief Executive Officer of Repligen on September 1, 2024, having previously served as the Chief Commercial Officer since October 2023. Prior to joining Repligen, Mr. Loeillot held the position of Chief Executive Officer at Ascensus Specialties, a company specializing in the manufacture of specialty chemicals for the life sciences and pharmaceutical sectors.
Jason K. Garland, Chief Financial Officer
Jason K. Garland joined Repligen as Chief Financial Officer in September 2023. In this role, he is responsible for overseeing all corporate finance and audit functions, capital markets, mergers and acquisitions (M&A) transactions, financial planning and analysis, budgeting, risk management, information technology, and investor relations. Previously, Mr. Garland served as CFO for GE Industrial Solutions. He also holds a board position at Acutus Medical, a publicly traded medical device company.
James R. Bylund, Chief Operating Officer
James R. Bylund has served as Repligen’s Chief Operating Officer since January 2022, having initially joined the company in March 2020. Mr. Bylund possesses extensive experience in managing multiple global operating sites and scaling operations to meet increasing demand. He earned a B.S. in Accounting from Utah State University and an M.B.A. from Indiana University.
Ralf Kuriyel, Senior Vice President, Research & Development
Ralf Kuriyel joined Repligen in October 2016 and currently holds the position of Senior Vice President, Research & Development. In this capacity, he is responsible for overseeing the company's innovation programs, which include the strategic integration of acquired technologies.
Brian Douglass, Senior Vice President and Chief Product Officer
Brian Douglass assumed the role of Senior Vice President and Chief Product Officer at Repligen as of December 31, 2025. He previously served as Senior Vice President, Filtration and Chromatography, having joined Repligen in May 2024. Before his tenure at Repligen, Mr. Douglass was Vice President and General Manager of the Cell Biology franchise at Thermo Fisher Scientific. He also spent eight years at Cytiva (a Danaher company), where he held roles such as Global Head of Product Management and General Manager for the Cell Culture business.
Olivier Loeillot became President and Chief Executive Officer of Repligen on September 1, 2024, having previously served as the Chief Commercial Officer since October 2023. Prior to joining Repligen, Mr. Loeillot held the position of Chief Executive Officer at Ascensus Specialties, a company specializing in the manufacture of specialty chemicals for the life sciences and pharmaceutical sectors.
Jason K. Garland, Chief Financial Officer
Jason K. Garland joined Repligen as Chief Financial Officer in September 2023. In this role, he is responsible for overseeing all corporate finance and audit functions, capital markets, mergers and acquisitions (M&A) transactions, financial planning and analysis, budgeting, risk management, information technology, and investor relations. Previously, Mr. Garland served as CFO for GE Industrial Solutions. He also holds a board position at Acutus Medical, a publicly traded medical device company.
James R. Bylund, Chief Operating Officer
James R. Bylund has served as Repligen’s Chief Operating Officer since January 2022, having initially joined the company in March 2020. Mr. Bylund possesses extensive experience in managing multiple global operating sites and scaling operations to meet increasing demand. He earned a B.S. in Accounting from Utah State University and an M.B.A. from Indiana University.
Ralf Kuriyel, Senior Vice President, Research & Development
Ralf Kuriyel joined Repligen in October 2016 and currently holds the position of Senior Vice President, Research & Development. In this capacity, he is responsible for overseeing the company's innovation programs, which include the strategic integration of acquired technologies.
Brian Douglass, Senior Vice President and Chief Product Officer
Brian Douglass assumed the role of Senior Vice President and Chief Product Officer at Repligen as of December 31, 2025. He previously served as Senior Vice President, Filtration and Chromatography, having joined Repligen in May 2024. Before his tenure at Repligen, Mr. Douglass was Vice President and General Manager of the Cell Biology franchise at Thermo Fisher Scientific. He also spent eight years at Cytiva (a Danaher company), where he held roles such as Global Head of Product Management and General Manager for the Cell Culture business.
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Key Risks to Repligen (RGEN)
- Dependence on Biopharmaceutical Industry R&D and Manufacturing Trends: Repligen's business is highly dependent on the spending and investment levels within the biopharmaceutical, life sciences, and diagnostics industries. A slowdown in drug development, a decrease in R&D budgets by its customers, or shifts in bioprocessing manufacturing trends could directly and negatively impact the demand for Repligen's bioprocessing technologies and systems.
- Intense Competition and Rapid Technological Change: The market for bioprocessing technologies is competitive and characterized by rapid technological advancements. Repligen faces competition from other companies offering similar or alternative products and technologies for protein purification, cell culture, filtration, and process analytics. Failure to continually innovate, develop new products, or adapt to emerging technologies could lead to a loss of market share or render its existing products obsolete.
- Intellectual Property Protection: Repligen's competitive advantage relies significantly on its proprietary technologies, including its Protein A ligands, chromatography products, filtration systems, and process analytics solutions. The inability to protect its intellectual property, potential infringement by competitors, or challenges to its patents could erode its market position and profitability.
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Repligen Corporation's main products and services operate within several significant addressable markets globally.
- Overall Bioprocessing Market: The total addressable market for Repligen, which focuses on bioprocessing technologies, was estimated at approximately $12 billion in 2024, a substantial increase from $4 billion in 2020. Another estimate for Repligen's addressable market expanded from approximately $3 billion in 2019 to over $13 billion in 2025. The broader global bioprocessing market size was valued at USD 33.21 billion in 2025 and is predicted to increase to approximately USD 124.42 billion by 2035, expanding at a CAGR of 14.12% from 2026 to 2035. North America held a 46.7% market share in the bioprocessing market in 2035.
- Protein A Ligands (and CaptivA Chromatography Resins): The global Protein A resin market was valued at USD 1.27 billion in 2025 and is estimated to grow to USD 2.08 billion by 2031, exhibiting a CAGR of 8.58% during the forecast period. Another report estimates the global Protein A resins market at USD 1.4 billion in 2025, projected to reach USD 2.5 billion in 2035, growing at a CAGR of 5.9%. North America commanded 40.50% of the Protein A resin market share in 2025.
- Cell Culture Growth Factor Products: The global growth factors market is estimated to grow from US$ 2.5 billion in 2026 to US$ 3.7 billion by 2033, recording a CAGR of 5.8%. North America leads this market with a 39.8% share in 2025. More broadly, the global cell culture market size is estimated at USD 32.23 billion in 2025 and is anticipated to reach around USD 83.96 billion by 2035, expanding at a CAGR of 10.05%. North America contributed approximately 42% of the cell culture market share in 2025.
- OPUS Pre-packed Chromatography Columns: The global prepacked chromatography columns market size was calculated at USD 3.54 billion in 2025 and is predicted to increase to approximately USD 5.55 billion by 2035, expanding at a CAGR of 4.60%. North America dominated this market with a major share in 2025, with revenue of USD 1.3 billion in 2023, projected to rise to USD 1.9 billion by 2032.
- ELISA Test Kits: The global ELISA kits market size is projected to grow from approximately $2.1 billion in 2023 to an estimated $3.8 billion by 2032, exhibiting a compound annual growth rate (CAGR) of around 6.5%. The global enzyme-linked immunosorbent assay (ELISA) testing market size is evaluated at USD 2.42 billion in 2025 and is expected to reach around USD 4.19 billion by 2034, growing at a CAGR of 6.32%. North America holds a significant share, with the U.S. market capturing 79.2% within North America in 2024.
- Filtration Products (XCell Alternating Tangential Flow systems, TangenX flat sheet cassettes, KrosFlo tangential flow filtration, ProConnex single-use hollow fiber): The global tangential flow filtration market size was valued at USD 2.05 billion in 2024 and is expected to grow at a CAGR of 12.4% from 2025 to 2030. Another source indicates the global tangential flow filtration market size was valued at USD 2.35 billion in 2025, projected to grow to USD 6.84 billion by 2034, exhibiting a CAGR of 12.58%. North America accounted for a 40.4% revenue share of the tangential flow filtration market in 2024. For hollow fiber filtration specifically, the global market was valued at USD 0.92 billion in 2025 and is projected to grow to USD 3.23 billion by 2034, exhibiting a CAGR of 15.01%. North America dominated the global hollow fiber filtration market with a 42.64% revenue share in 2024.
- Process Analytics Products (SoloVPE, FlowVPE, FlowVPX slope spectroscopy systems): The global biopharmaceutical process analytical technology market was valued at US$1.2 billion in 2024 and is projected to reach US$2.6 billion by 2029, advancing at a CAGR of 16.0%. The global bioprocess analyzers market size was valued at USD 2.5 billion in 2025 and is projected to grow from USD 2.8 billion in 2026 to USD 7.8 billion by 2035, expanding at a CAGR of 12.2%. North America is the largest market for bioprocess analyzers. The global process spectroscopy market size was valued at USD 21.3 billion in 2023 and is expected to reach USD 35.8 billion by 2033, growing at a CAGR of 5.33%. North America led the process spectroscopy market in 2025 with a 32.90% share.
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Expected Drivers of Future Revenue Growth for Repligen (RGEN)
- Continued Strength in Analytics and Proteins Franchises: Repligen anticipates sustained high growth from its analytics and proteins divisions. In Q4 2025, both franchises grew by over 30% year-over-year. The company projects its analytics franchise to grow by more than 20% in 2026, while its proteins division is expected to achieve low double-digit growth. This growth is aligned with Repligen's strategic focus on expanding its product offerings.
- New Product Launches and Innovation: A key driver of future revenue growth is Repligen's commitment to innovation and the introduction of new products. The company plans strategic initiatives, including R&D spending to launch innovative products, such as the SoloVPE PLUS analytics platform and new AVIPure resins designed for the new modality market.
- Geographic Expansion and Enhanced Commercial Strategies: Repligen is focused on expanding its commercial presence, particularly through building out its presence in the Asia Pacific (APAC) region. Additionally, the company is intensifying its commercial investments in cross-selling to existing customers and achieving further penetration in key accounts, demonstrated by selling 2.5 times as many product lines to these customers compared to 2019.
- Growth in New Modalities within the Bioprocessing Market: Despite a short-term headwind related to a gene therapy platform, Repligen is positioned to benefit from the rapidly expanding market for new modalities. The company's diversified portfolio supports the demand for biologics and newer modalities, which is expected to drive solid consumables and equipment revenue. The bioprocessing market for new modalities is projected to have a high compounded annual growth rate (CAGR) of over 30%.
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Share Repurchases
- In 2024, Repligen repurchased 92,090 shares of its common stock for $14.4 million.
Share Issuance
- The company issued $600 million in 1.00% Convertible Senior Notes due 2028 in 2024 to refinance existing debt and support strategic initiatives.
Outbound Investments
- In 2025, Repligen acquired the bioprocessing analytics portfolio from 908 Devices for $69.9 million in cash, which included desktop devices for real-time process monitoring, control, and analysis.
- In 2024, Repligen expanded its manufacturing capabilities through the acquisition of Tantti Laboratory Inc.
- In 2023, the company acquired Metenova, which offers magnetic mixing and drive train technologies, and FlexBiosys, Inc., further strengthening its fluid management portfolio.
- In 2021, Repligen acquired Avitide Inc. for approximately $150 million, consisting of $75 million in cash and $75 million in Repligen common stock, to enhance its affinity ligand discovery engine and chromatography development.
Capital Expenditures
- Repligen's capital expenditures were $23 million in 2025, $26 million in 2024, $36 million in 2023, $85 million in 2022, and $67 million in 2021.
- The company's capital expenditures in Q4 2025 were $8.2 million, focused on funding long-term assets and infrastructure.
- Repligen continues to make investments to support sustainable future growth, including in new technologies, capacity, and geographic expansion, as part of balancing margin expansion with growth initiatives for 2026.
Peer Outperformance in Biotechnology
RGEN has outperformed 70% of its 364 Biotechnology peers over 5Y. Among the peers that beat it are GILD, ABBV and VRTX. Biotechnology ranks 9th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Biotechnology constituents that RGEN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
71%
of 452 industry peers · 21.5% return
3Y
63%
of 398 industry peers · 18.0% return
5Y
70%
of 364 industry peers · -36.5% return
Biotechnology peers with revenue growth within 4pp of RGEN's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| RGEN | Repligen | 7.5% | -831.3x | 21.5% | 18.0% | -36.5% | — |
| GILD | Gilead Sciences | 4.2% | -53.7x | 43.9% | 144.6% | 202.3% | +239pp |
| ABBV | AbbVie | 6.3% | 49.8x | 36.9% | 133.2% | 199.8% | +236pp |
| VRTX | Vertex Pharmaceuticals | 10.3% | 34.9x | 33.6% | 48.4% | 184.6% | +221pp |
| REGN | Regeneron Pharmaceuticals | 9.1% | 19.1x | 38.2% | 14.1% | 46.6% | +83pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is RGEN's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 6.4% | 56.1% | 94.3% | CAH 506% · MCK 394% · COR 179% |
| Health Care Services | 20 | 32.4% | 25.6% | 7.4% | HIMS 208% · RDNT 127% · DGX 98% |
| Managed Health Care | 8 | 55.2% | -1.8% | -2.7% | OSCR 86% · HQY 50% · ELV 7% |
| Health Care Facilities | 26 | 16.4% | 22.6% | -8.9% | THC 277% · NHC 227% · EHC 177% |
| Health Care Equipment | 50 | 4.0% | 18.3% | -16.3% | UFPT 356% · GKOS 318% · TMDX 175% |
| Pharmaceuticals | 60 | -8.6% | 18.7% | -39.8% | LQDA 933% · XERS 649% · KNSA 543% |
| Health Care Supplies | 11 | 23.1% | 19.5% | -41.3% | LNTH 242% · HAE 69% · MMSI 25% |
| Life Sciences Tools & Services | 108 | -6.4% | -14.5% | -74.1% | AXGN 249% · MEDP 191% · NTRA 166% |
| Biotechnology ← | 365 | -23.8% | -29.2% | -81.7% | ELVN 1232% · TRVI 1075% · DNTH 1069% |
| Health Care Technology | 21 | -21.7% | -47.8% | -83.1% | VEEV -5% · DOCS -54% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 175.00 |
| Mkt Cap | 49.4 |
| Rev LTM | 7,372 |
| Op Inc LTM | 1,639 |
| FCF LTM | 1,267 |
| FCF 3Y Avg | 1,257 |
| CFO LTM | 1,609 |
| CFO 3Y Avg | 1,630 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.3% |
| Rev Chg 3Y Avg | 3.0% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 13.1% |
| Op Inc Chg 3Y Avg | 5.3% |
| Op Mgn LTM | 20.4% |
| Op Mgn 3Y Avg | 19.8% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 21.8% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 17.2% |
| FCF/Rev 3Y Avg | 18.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 49.4 |
| P/S | 6.7 |
| P/Op Inc | 31.1 |
| P/EBIT | 31.3 |
| P/E | 36.5 |
| P/CFO | 30.7 |
| Total Yield | 3.0% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 3.0% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.6% |
| 3M Rtn | 12.6% |
| 6M Rtn | 50.5% |
| 12M Rtn | 21.5% |
| 3Y Rtn | 29.9% |
| 1M Excs Rtn | 10.9% |
| 3M Excs Rtn | 15.0% |
| 6M Excs Rtn | 50.8% |
| 12M Excs Rtn | 11.6% |
| 3Y Excs Rtn | -34.1% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $173.49 | |
| Market Cap ($ Bil) | 9.8 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -10.8% | |
| 50 Days | 200 Days | |
| DMA Price | $177.35 | $144.99 |
| DMA Trend | up | up |
| Distance from DMA | -2.2% | 19.7% |
| 3M | 1YR | |
| Volatility | 47.9% | 46.6% |
| Downside Capture | 91.01 | 109.33 |
| Upside Capture | 156.19 | 119.37 |
| Correlation (S&P 500) | 37.4% | 36.8% |
RGEN Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.14 | 1.56 | 1.46 | 0.67 | 1.25 | 1.38 |
| Up Beta | 7.34 | 2.03 | 1.45 | -0.08 | 1.22 | 1.49 |
| Down Beta | 2.42 | 3.05 | 2.85 | 1.83 | 1.39 | 1.34 |
| Up Capture | 113% | 99% | 169% | 91% | 139% | 189% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 23 | 39 | 74 | 133 | 374 |
| Down Capture | 210% | 105% | 36% | -12% | 110% | 108% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 20 | 25 | 52 | 118 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RGEN | |
|---|---|---|---|---|
| RGEN | 19.0% | 46.6% | 0.51 | - |
| Sector ETF (XLV) | 28.6% | 16.9% | 1.31 | 36.7% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 36.0% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 20.2% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -18.1% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 21.7% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 15.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RGEN | |
|---|---|---|---|---|
| RGEN | -9.8% | 51.4% | -0.02 | - |
| Sector ETF (XLV) | 8.3% | 15.4% | 0.35 | 44.4% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 47.5% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 12.7% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | 3.3% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 40.9% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 22.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RGEN | |
|---|---|---|---|---|
| RGEN | 19.7% | 46.3% | 0.56 | - |
| Sector ETF (XLV) | 12.2% | 16.8% | 0.59 | 45.9% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 45.1% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 10.9% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 5.5% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 33.1% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 14.1% |
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Returns Analyses
Earnings Returns History
Updated 11/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | -2.4% | -4.0% | |
| 7/28/2026 | 10.9% | 12.2% | 38.6% |
| 5/5/2026 | 6.3% | -1.9% | 3.0% |
| 2/24/2026 | -0.5% | -7.7% | -14.1% |
| 10/28/2025 | -5.9% | -6.8% | 6.6% |
| 7/29/2025 | 4.7% | -2.6% | 0.7% |
| 4/29/2025 | -2.9% | -1.9% | -15.6% |
| 2/20/2025 | 7.9% | 8.0% | -7.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 17 | 14 | 16 |
| # Negative | 9 | 12 | 9 |
| Median Positive | 7.0% | 7.9% | 5.7% |
| Median Negative | -2.9% | -3.8% | -8.5% |
| Max Positive | 17.9% | 26.1% | 39.7% |
| Max Negative | -6.5% | -15.8% | -15.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | -2.4% | -4.0% | |
| 7/28/2026 | 10.9% | 12.2% | 38.6% |
| 5/5/2026 | 6.3% | -1.9% | 3.0% |
| 2/24/2026 | -0.5% | -7.7% | -14.1% |
| 10/28/2025 | -5.9% | -6.8% | 6.6% |
| 7/29/2025 | 4.7% | -2.6% | 0.7% |
| 4/29/2025 | -2.9% | -1.9% | -15.6% |
| 2/20/2025 | 7.9% | 8.0% | -7.6% |
| 11/12/2024 | 6.5% | -11.5% | 11.3% |
| 9/18/2024 | 2.6% | -1.7% | 0.1% |
| 7/30/2024 | 16.4% | 17.5% | 5.8% |
| 5/1/2024 | -3.6% | 2.1% | -9.8% |
| 2/21/2024 | -2.8% | -3.5% | -1.5% |
| 10/31/2023 | 17.9% | 26.1% | 39.7% |
| 8/2/2023 | 2.0% | 3.4% | 3.3% |
| 5/2/2023 | 2.4% | 2.0% | 9.4% |
| 2/22/2023 | -4.5% | -2.0% | -6.6% |
| 11/1/2022 | 1.7% | -5.7% | -2.0% |
| 8/2/2022 | 11.7% | 17.8% | 3.4% |
| 4/27/2022 | 10.5% | 13.3% | 8.2% |
| 2/17/2022 | -0.9% | 2.8% | 4.0% |
| 10/28/2021 | 7.0% | 7.9% | 5.5% |
| 7/27/2021 | 9.9% | 20.3% | 31.2% |
| 5/4/2021 | -6.5% | -15.8% | -14.3% |
| 2/24/2021 | 4.4% | 3.0% | -8.5% |
| 11/5/2020 | 8.0% | 4.2% | 0.8% |
| SUMMARY STATS | |||
| # Positive | 17 | 14 | 16 |
| # Negative | 9 | 12 | 9 |
| Median Positive | 7.0% | 7.9% | 5.7% |
| Median Negative | -2.9% | -3.8% | -8.5% |
| Max Positive | 17.9% | 26.1% | 39.7% |
| Max Negative | -6.5% | -15.8% | -15.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/30/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/18/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/30/2026 | 10-Q |
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 04/29/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/18/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/01/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 04/27/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/27/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 07/30/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
Recent Forward Guidance
Updated 10/28/2026Latest: Q3 2026 Earnings Reported 10/27/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Adjusted Income from Operations | Reported | 135.00 Mil | 137.00 Mil | 139.00 Mil | 4.6% | Raised | Guidance: 131.00 Mil for 2026 | |
| 2026 Adjusted Other Income (Expense) | Reported | 18.00 Mil | ||||||
| 2026 Total Reported Revenue | Reported | 844.00 Mil | 848.00 Mil | 852.00 Mil | 2.9% | Raised | Guidance: 824.00 Mil for 2026 | |
| 2026 Reported Revenue Growth | Reported | 14.5% | 15.0% | 15.5% | 3.5% | Raised | Guidance: 11.5% for 2026 | |
| 2026 Organic Revenue Growth | Reported | 12.0% | 12.5% | 13.0% | 0.5% | Raised | Guidance: 12.0% for 2026 | |
| 2026 Adjusted Gross Margin | Reported | 53.7% | 53.95% | 54.2% | 0.0% | Affirmed | Guidance: 53.95% for 2026 | |
| 2026 Adjusted Operating Margin | Reported | 16.0% | 16.15% | 16.3% | 0.3% | Raised | Guidance: 15.85% for 2026 | |
| 2026 Adjusted EBITDA Margin | Reported | 21.0% | 0.2% | Raised | Guidance: 20.8% for 2026 | |||
| 2026 Tax Rate on Pre-Tax Income | Reported | 22.0% | ||||||
| 2026 Adjusted Net Income | Reported | 119.00 Mil | 120.50 Mil | 122.00 Mil | 3.0% | Raised | Guidance: 117.00 Mil for 2026 | |
| 2026 Adjusted Diluted Earnings Per Share | Reported | 2.05 | 2.07 | 2.09 | 0.5% | Raised | Guidance: 2.06 for 2026 | |
Prior: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Reported Growth | Reported | 10.0% | 11.5% | 13.0% | ||||
| 2026 Organic Growth | Reported | 10.5% | 12.0% | 13.5% | ||||
| 2026 Income from Operations | Reported | 128.00 Mil | 131.00 Mil | 134.00 Mil | ||||
| 2026 Total Reported Revenue | Reported | 813.00 Mil | 824.00 Mil | 835.00 Mil | ||||
| 2026 Gross Margin | Reported | 53.7% | 53.95% | 54.2% | ||||
| 2026 Operating Margin | Reported | 15.7% | 15.85% | 16.0% | ||||
| 2026 Adjusted EBITDA Margin | Reported | 20.6% | 20.8% | 21.0% | ||||
| 2026 Net Income | Reported | 115.50 Mil | 117.00 Mil | 118.50 Mil | ||||
| 2026 Earnings Per Share - Diluted | Reported | 2.03 | 2.06 | 2.09 | ||||
Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Reported Growth | Reported | 9.0% | 11.0% | 13.0% | -1.0% | Lowered | Guidance: 12.0% for 2026 | |
| 2026 Organic Growth | Reported | 9.0% | 11.0% | 13.0% | 0.0% | Affirmed | Guidance: 11.0% for 2026 | |
| 2026 Income from Operations | Reported | 124.00 Mil | 128.00 Mil | 132.00 Mil | ||||
| 2026 Total Reported Revenue | Reported | 803.00 Mil | 818.00 Mil | 833.00 Mil | -0.8% | Lowered | Guidance: 825.00 Mil for 2026 | |
| 2026 Gross Profit | Calculated | 431.21 Mil | 441.31 Mil | 451.49 Mil | Rev x Gross Margin | |||
| 2026 Gross Margin | Reported | 53.7% | 53.95% | 54.2% | ||||
| 2026 Operating Margin | Reported | 15.4% | 15.6% | 15.8% | 0.3% | Raised | Guidance: 15.3% for 2026 | |
| 2026 Adjusted EBITDA Margin | Reported | 20.3% | 20.55% | 20.8% | ||||
| 2026 Net Income | Reported | 111.50 Mil | 114.00 Mil | 116.50 Mil | 2.2% | Raised | Guidance: 111.50 Mil for 2026 | |
| 2026 Earnings Per Share - Diluted | Reported | 1.97 | 2.01 | 2.05 | 2.0% | Raised | Guidance: 1.97 for 2026 | |
Insider Activity
Updated 10/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 10062026 | 187.29 | 5,535 | 1,036,654 | 8,575,664 | Form |
| 2 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9252026 | 190.00 | 12,946 | 2,459,740 | 9,190,110 | Form |
| 3 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9222026 | 180.00 | 5,426 | 976,680 | 8,706,420 | Form |
| 4 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9082026 | 165.90 | 3,035 | 503,506 | 8,024,417 | Form |
| 5 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 8212026 | 180.00 | 5,426 | 976,680 | 9,764,280 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 10062026 | 187.29 | 5,535 | 1,036,654 | 8,575,664 | Form |
| 2 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9252026 | 190.00 | 12,946 | 2,459,740 | 9,190,110 | Form |
| 3 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9222026 | 180.00 | 5,426 | 976,680 | 8,706,420 | Form |
| 4 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 9082026 | 165.90 | 3,035 | 503,506 | 8,024,417 | Form |
| 5 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 8212026 | 180.00 | 5,426 | 976,680 | 9,764,280 | Form |
| 6 | Garland, Jason K | CFO | Direct | Sell | 7172026 | 150.00 | 530 | 79,500 | 2,824,350 | Form |
| 7 | Garland, Jason K | CFO | Direct | Sell | 6262026 | 145.00 | 733 | 106,285 | 2,807,055 | Form |
| 8 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 4222026 | 140.00 | 3,832 | 536,480 | 7,594,440 | Form |
| 9 | Dawes, Karen A | Direct | Sell | 12182025 | 161.00 | 275 | 44,275 | 14,783,181 | Form | |
| 10 | Loeillot, Olivier | Chief Executive Officer | Direct | Sell | 11262025 | 170.00 | 7,041 | 1,196,970 | 6,102,660 | Form |
| 11 | Bylund, James | Chief Operating Officer | Direct | Sell | 11192025 | 151.21 | 2,191 | 331,301 | 3,254,039 | Form |
| 12 | Hunt, Anthony | Direct | Sell | 11142025 | 154.61 | 20,000 | 3,092,278 | 12,483,992 | Form | |
| 13 | Hunt, Anthony | Direct | Sell | 11132025 | 156.88 | 25,000 | 3,921,940 | 15,804,319 | Form |
Investor Activity (13F)
Updated Nov 9, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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Core Cache Last Updated: 11/8/2026