Sanofi (SNY)
NASDAQ:SNY
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Sanofi
(NASDAQ:SNY)
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Rating:69Neutral
Price Target:
$51.00
▲(9.02% Upside)
Action:DowngradedDate:01/30/26
The score is driven primarily by solid underlying financial quality (strong margins and low leverage) and attractive valuation (low P/E and high dividend). This is offset by weak technicals (below key moving averages with negative MACD) and cash-flow pressure, while earnings-call guidance is constructive but includes meaningful pipeline and vaccine-related risks.
Positive Factors
Strong new product launches
Sustained, sizable launch revenue indicates Sanofi is successfully replenishing its portfolio, reducing reliance on legacy medicines. Recurring launch momentum supports multi-year top-line growth, premium pricing mix and margin durability as new specialty drugs scale into global markets.
Negative Factors
Sharp free cash flow decline
A severe drop in free cash flow growth can constrain durable investments, limit funding for R&D, manufacturing capacity and shareholder returns, and increase reliance on external financing. Restoring FCF is key to supporting long-term strategy and M&A without raising leverage materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong new product launches
Sustained, sizable launch revenue indicates Sanofi is successfully replenishing its portfolio, reducing reliance on legacy medicines. Recurring launch momentum supports multi-year top-line growth, premium pricing mix and margin durability as new specialty drugs scale into global markets.
Read all positive factors
Sanofi (SNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$113.97B
Dividend Yield4.58%
Average Volume (3M)4.20M
Price to Earnings (P/E)―
Beta (1Y)0.50
Revenue Growth-9.32%
EPS Growth120.62%
CountryUS
Employees82,878
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.91
Shares Outstanding2,424,365,000
10 Day Avg. Volume3,403,654
30 Day Avg. Volume4,199,697
Financial Highlights & Ratios
PEG Ratio-1.66
Price to Book (P/B)1.41
Price to Sales (P/S)2.15
P/FCF Ratio11.32
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue2.41
Enterprise Value/Gross Profit3.34
Enterprise Value/Ebitda8.89
Forecast
1Y Price Target
$59.50Price Target Upside27.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.96
Revenue Forecast (FY)$56.35B
Sanofi Business Overview & Revenue Model
Company Description
Sanofi, together with its subsidiaries, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through three segments: Pharmaceuticals, Vaccines, and...
How the Company Makes Money
Sanofi generates revenue primarily through the sale of prescription medications and vaccines. Its revenue model is driven by several key streams, including product sales from its extensive portfolio of pharmaceuticals and biologics, which address ...
Sanofi Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call presented a largely positive picture: strong top-line growth (9.9% FY, 13.3% Q4), robust launch performance (EUR 5.7bn from new products), significant pipeline delivery and regulatory progress, improved margins and free cash flow, plus strategic BD/M&A activity. Notable challenges include a Phase III failure for tolebrutinib, a safety case in the amlitelimab program that will require monitoring, decreased Regeneron R&D reimbursements (offset partly by higher royalties), and some uncertainty in the U.S. vaccine schedule and vaccine sales in 2026. Overall, positives (growth, profitability, launches, pipeline replenishment and balance sheet flexibility) outweigh the lowlights, though execution and regulatory/safety risks remain important to monitor.Positive Updates
Strong Full-Year and Q4 Sales Growth
Net sales for full year 2025 were EUR 43.6 billion, a 9.9% increase at constant exchange rates. Q4 2025 sales were EUR 11.3 billion, up 13.3% year-over-year.
Negative Updates
Tolebrutinib Phase III Failure (PPMS)
Tolebrutinib did not meet its primary endpoint in the PERSEUS study for primary progressive MS (PPMS) and Sanofi will not pursue a regulatory submission for that indication.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Full-Year and Q4 Sales Growth
Net sales for full year 2025 were EUR 43.6 billion, a 9.9% increase at constant exchange rates. Q4 2025 sales were EUR 11.3 billion, up 13.3% year-over-year.
Read all positive updates
Company Guidance
Sanofi guided to "high single‑digit" sales growth for full‑year 2026 with business EPS expected to grow slightly faster than sales, noting vaccine sales should slightly decline and portfolio divestments will reduce sales by about €200m; management expects gross‑margin expansion to continue, operating income to include ~€500m of capital gains, underlying R&D to increase moderately (a ~€400m decline in Regeneron R&D reimbursement to be more than offset by ~€1bn of Amvuttra royalties), higher financial expenses from increased net debt, and a planned €1bn share buyback in 2026. This outlook builds on a strong 2025 base—sales €43.6bn (+9.9% CER), Q4 sales €11.3bn (+13.3%), business gross margin 77.5%, BOI margin 27.8%, OpEx ~39.9% of sales, business EPS up ~15% including buybacks, free cash flow €8.1bn (18.5% of sales) with a medium‑term target of ≥20% FCF, and a conservative balance sheet (net debt ~€11bn; net debt/EBITDA ~0.8x) that supports ongoing M&A.Sanofi Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
75
Positive
Cash Flow
65
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 46.72B | 44.29B | 41.62B | 40.56B | 39.17B |
| Gross Profit | 33.79B | 31.08B | 28.99B | 28.68B | 26.92B |
| EBITDA | 12.68B | 11.03B | 11.39B | 13.51B | 11.54B |
| Net Income | 7.81B | 5.56B | 5.40B | 8.37B | 6.22B |
Balance Sheet | |||||
| Total Assets | 126.81B | 132.80B | 126.46B | 126.72B | 120.24B |
| Cash, Cash Equivalents and Short-Term Investments | 7.66B | 7.93B | 8.71B | 12.74B | 10.10B |
| Total Debt | 21.79B | 17.91B | 18.70B | 21.21B | 22.41B |
| Total Liabilities | 55.10B | 54.94B | 52.11B | 51.57B | 51.21B |
| Stockholders Equity | 71.38B | 77.51B | 74.04B | 74.78B | 68.68B |
Cash Flow | |||||
| Free Cash Flow | 8.89B | 5.89B | 8.64B | 8.32B | 8.48B |
| Operating Cash Flow | 10.75B | 9.08B | 10.26B | 10.53B | 10.52B |
| Investing Cash Flow | -2.35B | -4.41B | -6.20B | -2.08B | -7.30B |
| Financing Cash Flow | -8.21B | -5.76B | -8.05B | -5.82B | -7.06B |
Sanofi Technical Analysis
Positive
46.78
Price Trends
46.34
Positive
47.73
Negative
48.21
Negative
Market Momentum
-0.17
Negative
58.35
Neutral
83.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNY, the sentiment is Positive. The current price of 46.78 is above the 20-day moving average (MA) of 45.02, above the 50-day MA of 46.34, and below the 200-day MA of 48.21, indicating a neutral trend. The MACD of -0.17 indicates Negative momentum. The RSI at 58.35 is Neutral, neither overbought nor oversold. The STOCH value of 83.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SNY.
Sanofi Risk Analysis
Sanofi disclosed 29 risk factors in its most recent earnings report. Sanofi reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Failure to comply with data ethics and privacy regulations could adversely affect our business and reputation Q4, 2023
2.
Climate change or legal, regulatory or market measures to address climate change may negatively affect our business and results of operations Q4, 2023
3.
A failure in our crisis and business continuity management processes in case of unpredictable events could have negative consequences for our business, operations and reputation Q4, 2023
Sanofi Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $273.58B | 19.02 | 32.80% | 2.87% | 11.53% | -15.21% | |
74 Outperform | $166.66B | 17.94 | 41.01% | 2.52% | 2.76% | 6407.19% | |
71 Outperform | $119.22B | 15.61 | 39.27% | 4.84% | 1.26% | ― | |
69 Neutral | $113.97B | -31.42 | 14.71% | 4.58% | -9.32% | 120.62% | |
68 Neutral | $295.77B | 14.46 | 36.19% | 3.12% | 1.59% | 58.02% | |
64 Neutral | $153.76B | 18.21 | 8.67% | 6.65% | 4.44% | 128.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
SNY
Sanofi
46.78
-6.97
-12.96%
BMY
Bristol-Myers Squibb
58.54
0.48
0.83%
GILD
Gilead Sciences
134.25
25.10
23.00%
MRK
Merck & Company
119.63
33.02
38.12%
NVS
Novartis
148.18
38.84
35.52%
PFE
Pfizer
27.04
3.41
14.46%
Sanofi Corporate Events
Sanofi Posts Strong 2025 Sales and EPS Growth, Sets High-Single-Digit Outlook for 2026
Jan 29, 2026
On January 29, 2026, Sanofi reported that in 2025 it delivered strong top- and bottom-line growth, with full-year net sales rising 9.9% at constant exchange rates to €43.6 billion and business EPS advancing 15.0% to €7.83, indicating p...
Sanofi Advances Amlitelimab Toward Global Filings After Positive Phase 3 Atopic Dermatitis Data
Jan 23, 2026
On January 23, 2026, Sanofi reported new phase 3 data showing that its investigational monoclonal antibody amlitelimab, which targets OX40-ligand without depleting T cells, delivered a strong efficacy and safety profile in patients aged 12 and old...
Sanofi Wins First EU Disease‑Modifying Approval for Type 1 Diabetes Drug Teizeild
Jan 16, 2026
On January 12, 2026, the European Commission approved Sanofi’s Teizeild (teplizumab) as the first disease‑modifying therapy in the European Union to delay the onset of stage 3 type 1 diabetes in adults and children aged eight years and...
Sanofi Wins FDA Priority Review for Expanding Tzield Use to Very Young Children With Stage 2 Type 1 Diabetes
Jan 9, 2026
On January 5, 2026, Sanofi announced that the US Food and Drug Administration has accepted for priority review a supplemental biologics license application for its type 1 diabetes drug Tzield (teplizumab-mzwv), seeking to extend its use from patie...
Sanofi to Buy Dynavax in $2.2 Billion Push Into Adult Vaccines
Dec 29, 2025
On December 24, 2025, Sanofi announced an agreement to acquire Dynavax Technologies Corporation, a commercial-stage vaccines company, in a cash transaction valuing Dynavax’s equity at about $2.2 billion, as it looks to strengthen its positio...
Sanofi Hit by FDA Rebuff on Tolebrutinib MS Filing but Sees No Change to 2025 Outlook
Dec 29, 2025
On December 24, 2025, Sanofi announced that the US Food and Drug Administration issued a complete response letter for its new drug application for tolebrutinib to treat non-relapsing secondary progressive multiple sclerosis in adults, marking a sh...
Sanofi Wins First-Ever EU Approval for BTK Inhibitor Wayrilz in Immune Thrombocytopenia
Dec 29, 2025
On December 23, 2025, the European Commission approved Sanofi’s Wayrilz (rilzabrutinib) as the first Bruton’s tyrosine kinase (BTK) inhibitor indicated for adult immune thrombocytopenia (ITP) patients who are refractory to other treatm...
Sanofi Wins EMA Orphan Designation for Efdoralprin Alfa in Rare Emphysema
Dec 23, 2025
On December 17, 2025, Sanofi announced that the European Medicines Agency granted orphan designation to efdoralprin alfa (SAR447537), its investigational recombinant human alpha-1 antitrypsin-Fc fusion protein, for the potential treatment of alpha...
Sanofi Strikes Three-Year US Drug Pricing and Tariff Deal with Trump Administration
Dec 22, 2025
On December 19, 2025, Sanofi announced it had reached a voluntary agreement with the Trump Administration to cut US medicine costs while reinforcing the country’s role in biopharmaceutical innovation and manufacturing. The three-year framewo...
Sanofi Faces Delay in FDA Review for Tolebrutinib in MS
Dec 15, 2025
Sanofi announced on December 15, 2025, that the U.S. regulatory review process for tolebrutinib, a treatment for non-relapsing secondary progressive multiple sclerosis (nrSPMS), is expected to extend beyond the initial target action date of Decemb...
Sanofi Expands Vaccine Portfolio and Gains China Approval for Rare Disease Drugs
Dec 12, 2025
In December 2025, Sanofi announced the completion of its acquisition of Vicebio Ltd, which enhances its capabilities in vaccine design and development. This acquisition introduces an early-stage combination vaccine candidate for respiratory syncyt...
Sanofi’s Dupixent Gains EU Approval for Chronic Urticaria
Dec 3, 2025
On November 25, 2025, Sanofi and Regeneron announced that the European Commission approved Dupixent (dupilumab) as the first targeted medicine in over a decade for treating moderate-to-severe chronic spontaneous urticaria (CSU) in the EU. This app...
Sanofi Advances with Dupixent and Teizeild Approvals in November 2025
Nov 18, 2025
In November 2025, Sanofi announced significant advancements in its pharmaceutical offerings. On November 7, 2025, Sanofi, in collaboration with Regeneron, revealed that their drug Dupixent met all primary and secondary endpoints in a pivotal phase...
Sanofi Issues $3 Billion in Notes to Bolster Financial Strategy
Nov 3, 2025
On November 3, 2025, Sanofi announced the issuance of $3 billion in notes, including floating and fixed rate notes due in 2027, 2028, and 2032. This strategic financial move is expected to enhance Sanofi’s capital structure and support its l...
Sanofi’s Efdoralprin Alfa Achieves Key Milestones in AATD Emphysema Study
Oct 31, 2025
On October 22, 2025, Sanofi announced that its investigational drug, efdoralprin alfa, met all primary and key secondary endpoints in a phase 2 study for alpha-1 antitrypsin deficiency (AATD) emphysema. The drug showed superiority over standard pl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.