Repligen Corp
RGEN—
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Repligen Corp AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 1.1B is 53% of equity and 194% of tangible book (575M) - acquisition-heavy model with impairment risk if bioprocessing demand stays weak[Goodwill]
- P/S of 12.6x vs industry median 1.9x (6.6x premium) despite negative operating margin (-1.1% TTM) and -2% 3Y revenue decline[Price to Sales Ratio]
- FCF of 103M TTM (14.6% margin) positive despite operating loss - non-cash charges masking cash generation ability[Free Cash Flow]
Watch Triggers
- Total Revenue: Sequential quarterly growth turns positive for 2+ quarters — Confirms destocking cycle ended; triggers operating leverage thesis
- Operating Margin: Returns to positive (>0%) on TTM basis — Validates cost structure can generate profits at current revenue levels
- Goodwill: Any impairment charge announced — Would signal management acknowledges overpayment for acquisitions
Bull Case
749M cash (1.1x debt coverage) and 103M FCF provide runway to weather downturn without dilution while competitors struggle
Cash and EquivalentsFree Cash FlowDebt to Equity
Operating leverage potential: 45% gross margin means revenue recovery flows to bottom line - breakeven at modest volume increase
Gross MarginOperating MarginOperating Income
Bear Case
Valuation assumes recovery: P/S 12.6x (6.6x industry) and P/B 15.5x price in growth that hasn't materialized (-2% 3Y CAGR)
Price to Sales RatioPrice to Book RatioTotal Revenue 3Y Growth
Goodwill impairment risk: 1.1B goodwill (53% of equity) from acquisitions vulnerable if bioprocessing market structurally smaller
GoodwillCommon Stockholders EquityTangible Book Value
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Bioprocessing destocking cycle ending should restore revenue growth and operating leverage by FY2025
1-3ymed
- 3Y revenue CAGR of -2% vs industry +6% suggests cyclical trough
- 45% gross margin provides leverage when volumes recover
- R&D spend of 53M (7.4% of revenue) maintains competitive position
Gross margin 45% TTM near industry median 53%FCF positive 103M despite operating lossCash of 749M covers 1.1x total debt
Valuation Context
Caveats
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RGEN Fundamentals
Manufacturing → Miscellaneous Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$6.65B | — | ||
$6.59B | — | ||
5,880 | — | ||
$707.89M | +10.6% | — | |
$0.02 | — | ||
-1.14% | -4.1% | — | |
0.25% | +0.6% | — | |
$103.47M | -21.2% | — | |
0.08% | +0.2% | — | |
Beta 5Y (Monthly) | unknown | — |
RGEN Dividend History
No dividends
RGEN Stock Splits
No stock splits
RGEN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/04/25 | 09/30/25 | 10-Q | |
08/07/25 | 06/30/25 | 10-Q | |
04/29/25 | 03/31/25 | 10-Q | |
03/14/25 | 12/31/24 | Unknown | |
11/18/24 | 09/30/24 | 10-Q | |
07/30/24 | 06/30/24 | 10-Q | |
11/18/24 | 06/30/24 | 10-Q/A | |
11/18/24 | 03/31/24 | 10-Q/A | |
05/01/24 | 03/31/24 | 10-Q | |
11/18/24 | 12/31/23 | 10-K/A | |
02/22/24 | 12/31/23 | 10-K | |
11/18/24 | 09/30/23 | 10-Q/A | |
10/31/23 | 09/30/23 | 10-Q | |
11/18/24 | 06/30/23 | 10-Q/A | |
08/02/23 | 06/30/23 | 10-Q | |
05/02/23 | 03/31/23 | 10-Q | |
11/18/24 | 03/31/23 | 10-Q/A | |
02/22/23 | 12/31/22 | 10-K | |
11/18/24 | 12/31/22 | 10-K/A | |
11/01/22 | 09/30/22 | 10-Q | |
11/18/24 | 09/30/22 | 10-Q/A | |
08/02/22 | 06/30/22 | 10-Q | |
11/18/24 | 06/30/22 | 10-Q/A | |
04/27/22 | 03/31/22 | 10-Q | |
11/18/24 | 03/31/22 | 10-Q/A | |
11/18/24 | 12/31/21 | 10-K/A | |
02/17/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/27/21 | 06/30/21 | 10-Q | |
05/04/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/05/20 | 09/30/20 | 10-Q | |
07/30/20 | 06/30/20 | 10-Q | |
05/06/20 | 03/31/20 | 10-Q | |
02/26/20 | 12/31/19 | 10-K | |
10/31/19 | 09/30/19 | 10-Q | |
08/01/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
03/01/19 | 12/31/18 | 10-K | |
11/01/18 | 09/30/18 | 10-Q | |
08/02/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
11/09/17 | 09/30/17 | 10-Q | |
08/03/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/23/17 | 12/31/16 | 10-K | |
11/03/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/25/16 | 12/31/15 | 10-K | |
11/05/15 | 09/30/15 | 10-Q | |
08/06/15 | 06/30/15 | 10-Q | |
05/08/15 | 03/31/15 | 10-Q | |
03/17/15 | 12/31/14 | 10-K | |
11/07/14 | 09/30/14 | 10-Q | |
08/11/14 | 06/30/14 | 10-Q | |
05/09/14 | 03/31/14 | 10-Q | |
03/14/14 | 12/31/13 | 10-K | |
11/08/13 | 09/30/13 | 10-Q | |
08/07/13 | 06/30/13 | 10-Q | |
05/07/13 | 03/31/13 | 10-Q | |
03/15/13 | 12/31/12 | 10-K | |
11/08/12 | 09/30/12 | 10-Q | |
08/09/12 | 06/30/12 | 10-Q | |
05/10/12 | 03/31/12 | 10-Q | |
11/09/11 | 09/30/11 | 10-Q | |
08/05/11 | 06/30/11 | 10-Q | |
03/15/12 | 03/31/11 | 10-K | |
06/09/11 | 03/31/11 | 10-K | |
02/09/11 | 12/31/10 | 10-Q | |
11/02/10 | 09/30/10 | 10-Q | |
08/05/10 | 06/30/10 | 10-Q | |
06/10/10 | 03/31/10 | 10-K | |
03/15/12 | 03/31/10 | 10-K | |
02/04/10 | 12/31/09 | 10-Q | |
11/05/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
06/11/09 | 03/30/09 | 10-K | |
02/05/09 | 12/31/08 | 10-Q | |
11/07/08 | 09/30/08 | 10-Q | |
08/08/08 | 06/30/08 | 10-Q | |
06/13/08 | 03/30/08 | Unknown | -- |
02/07/08 | 12/31/07 | 10-Q | |
11/09/07 | 09/30/07 | 10-Q | |
08/08/07 | 06/30/07 | 10-Q | |
06/08/07 | 03/30/07 | Unknown | -- |
02/08/07 | 12/31/06 | 10-Q | |
11/06/06 | 09/30/06 | 10-Q | |
08/09/06 | 06/30/06 | 10-Q | |
06/09/06 | 03/30/06 | Unknown | -- |
02/09/06 | 12/31/05 | 10-Q | |
11/04/05 | 09/30/05 | 10-Q | |
08/05/05 | 06/30/05 | 10-Q | |
06/14/05 | 03/30/05 | Unknown | -- |
02/09/05 | 12/31/04 | 10-Q | |
11/09/04 | 09/30/04 | 10-Q | |
08/09/04 | 06/30/04 | 10-Q | |
06/14/04 | 03/30/04 | Unknown | -- |
02/11/04 | 12/31/03 | 10-Q | |
11/13/03 | 09/30/03 | 10-Q | |
08/12/03 | 06/30/03 | 10-Q | |
06/27/03 | 03/30/03 | Unknown | -- |
02/07/03 | 12/31/02 | 10-Q | |
11/12/02 | 09/30/02 | 10-Q | |
08/02/02 | 06/30/02 | 10-Q | |
05/24/02 | 03/30/02 | Unknown | -- |
02/14/02 | 12/31/01 | 10-Q | |
11/14/01 | 09/30/01 | 10-Q | |
08/14/01 | 06/30/01 | 10-Q | |
06/29/01 | 03/30/01 | Unknown | -- |
02/14/01 | 12/31/00 | 10-Q | |
11/14/00 | 09/30/00 | 10-Q | |
08/11/00 | 06/30/00 | 10-Q | |
06/23/00 | 03/30/00 | Unknown | -- |