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Sanofi
(NASDAQ:SNY)
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Rating:71Outperform
Price Target:
$46.00
â–¼(-0.04% Downside)
Action:Reiterated
Date:10/21/26
Overall score reflects solid financial fundamentals and a constructive earnings-call backdrop (upgraded 2026 guidance and strong Dupixent/launch momentum), supported by an attractive dividend yield. These positives are tempered by mixed-to-weak technicals (below key longer-term moving averages with negative MACD) and business risks highlighted on the call, including vaccine softness, pipeline setbacks, and upcoming BOI headwinds.
Positive Factors
Dupixent scale and durable demand
Dupixent combines substantial patient adoption with strong volume-led growth across indications and geographies. This scale supports durable commercial momentum, while broader use can strengthen Sanofi’s specialty-care base and provide an important foundation for future portfolio expansion.
Negative Factors
Structural vaccine growth pressure
The weaker vaccine outlook reflects more than a single quarter, citing lower U.S. vaccination coverage and pressure across respiratory and pediatric vaccines. Persistent demand and market-access challenges could constrain growth in a major business segment and reduce portfolio balance.
Read all positive and negative factors
Positive Factors
Negative Factors
Dupixent scale and durable demand
Dupixent combines substantial patient adoption with strong volume-led growth across indications and geographies. This scale supports durable commercial momentum, while broader use can strengthen Sanofi’s specialty-care base and provide an important foundation for future portfolio expansion.
Read all positive factors
Sanofi (SNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.94B
Dividend Yield5.79%
Average Volume (3M)3.34M
Price to Earnings (P/E)22.8
Beta (1Y)0.42
Revenue Growth23.68%
EPS Growth-30.90%
CountryUS
Employees76,493
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.48
Shares Outstanding2,415,546,900
10 Day Avg. Volume3,839,570
30 Day Avg. Volume3,343,190
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)1.41
Price to Sales (P/S)2.15
P/FCF Ratio9.92
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue2.51
Enterprise Value/Gross Profit3.44
Enterprise Value/Ebitda8.32
Forecast
1Y Price Target
$59.50Price Target Upside29.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)4.83
Revenue Forecast (FY)$55.89B
Sanofi Business Overview & Revenue Model
Company Description
Sanofi operates as a leading global pharmaceutical enterprise, dedicated to the research, development, production, and distribution of a wide array of therapeutic solutions across the United States, Europe, and numerous international markets. The ...
How the Company Makes Money
Sanofi primarily makes money by selling branded prescription medicines and vaccines to wholesalers, hospitals, pharmacies, governments, and other healthcare providers worldwide. Revenue is largely generated from (1) Specialty Care medicines, inclu...
Sanofi Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 30, 2026
Earnings Call Sentiment Positive
The call was predominantly positive, supported by strong Q2 sales, EPS and margin growth, an upgraded 2026 outlook, robust Dupixent performance, launch momentum, rare disease growth and several regulatory and pipeline achievements. However, management acknowledged meaningful challenges, including expected second-half deceleration, declining vaccine sales, weaker U.S. vaccination coverage, pipeline failures and discontinuations, an ongoing R&D transformation, weaker China momentum and future one-off-related BOI headwinds. The highlights significantly outweighed the lowlights.Positive Updates
Strong Q2 Sales and EPS Growth
Q2 net sales grew 17.8% to EUR 11.6 billion, primarily volume-driven and supported by positive gross-to-net adjustments. Business EPS grew 33.3%, while underlying business EPS growth reached 21% excluding share buyback and one-off items.
Negative Updates
Expected Second-Half Growth Moderation
Management expects sales growth to decelerate in the second half because Sanofi will compare against strong prior-year Dupixent momentum from a new indication and the consolidation of Ayvakit beginning in July 2025. Dupixent growth is also expected to moderate as newly launched indications annualize and comparables become tougher.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Q2 Sales and EPS Growth
Q2 net sales grew 17.8% to EUR 11.6 billion, primarily volume-driven and supported by positive gross-to-net adjustments. Business EPS grew 33.3%, while underlying business EPS growth reached 21% excluding share buyback and one-off items.
Read all positive updates
Company Guidance
Sanofi upgraded full year 2026 guidance to sales growth of around 10% at constant exchange rates, with business EPS growing slightly faster than sales; vaccine sales growth is expected to be slightly negative in 2026, with a low to mid-teens sales decrease in Q3, and the tax rate is anticipated at around 21%. For 2030, Dupixent sales are expected to reach about EUR 25 billion, pharmaceutical launches should generate about EUR 10 billion in sales, and vaccines are expected to reach about EUR 9 billion, with the sales ambition for the 3 items combined upgraded by almost 10% on a like-for-like basis at constant exchange rates; the EUR 1 billion reduction is split equally between a currency impact and market dynamics. The Amvuttra royalty increase will fully offset the negative BOI impact from the Regeneron development balance reimbursement in 2026, while in '27 there will be a negative EUR 200 million BOI gap, comprising a final negative BOI impact of about EUR 600 million and Amvuttra royalty income expected to increase by about EUR 400 million year-on-year. R&D spend is expected to have moderate increases in the short term, at a lower level than sales, with approximately 1 new Phase I start every 2 months this year; the launch portfolio is expected to reach EUR 5.2 billion, EUR 5.3 billion in full year 2026 and grow on average CAGR by 15% to 2030.Sanofi Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
77
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.92B | 46.72B | 44.29B | 41.62B | 40.56B | 39.17B |
| Gross Profit | 35.72B | 33.67B | 31.08B | 28.99B | 28.68B | 26.92B |
| EBITDA | 14.77B | 12.48B | 11.03B | 11.39B | 13.51B | 11.54B |
| Net Income | 3.96B | 7.81B | 5.56B | 5.40B | 8.37B | 6.22B |
Balance Sheet | ||||||
| Total Assets | 129.06B | 126.81B | 132.80B | 126.46B | 126.72B | 120.24B |
| Cash, Cash Equivalents and Short-Term Investments | 6.35B | 8.47B | 7.93B | 8.71B | 12.74B | 10.10B |
| Total Debt | 23.58B | 20.33B | 17.91B | 18.70B | 21.21B | 22.41B |
| Total Liabilities | 59.49B | 55.09B | 54.94B | 52.11B | 51.57B | 51.21B |
| Stockholders Equity | 69.21B | 71.38B | 77.51B | 74.04B | 74.78B | 68.68B |
Cash Flow | ||||||
| Free Cash Flow | 11.77B | 10.14B | 5.89B | 7.35B | 8.42B | 8.48B |
| Operating Cash Flow | 14.29B | 12.13B | 9.08B | 10.26B | 10.53B | 10.52B |
| Investing Cash Flow | -16.54B | -2.76B | -4.41B | -6.20B | -2.08B | -7.30B |
| Financing Cash Flow | -9.13B | -9.26B | -5.76B | -8.05B | -5.82B | -7.06B |
Sanofi Technical Analysis
Neutral
46.02
Price Trends
42.38
Negative
42.89
Negative
43.73
Negative
Market Momentum
-0.16
Negative
54.61
Neutral
88.93
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SNY, the sentiment is Neutral. The current price of 46.02 is above the 20-day moving average (MA) of 40.45, above the 50-day MA of 42.38, and above the 200-day MA of 43.73, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 54.61 is Neutral, neither overbought nor oversold. The STOCH value of 88.93 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $172.55B | 9.93 | 59.09% | 4.59% | 13.21% | 12.68% | |
72 Outperform | $102.36B | 15.96 | 28.35% | 3.55% | 8.82% | 48.32% | |
71 Outperform | $99.94B | 22.81 | 5.52% | 5.79% | 23.68% | -30.90% | |
70 Outperform | $281.94B | 23.38 | 29.64% | 3.08% | 2.33% | -4.08% | |
68 Neutral | $641.07B | 40.37 | 19.55% | 1.98% | 7.81% | -35.95% | |
66 Neutral | $169.79B | 39.36 | 4.89% | 5.77% | -0.21% | -59.71% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
SNY
Sanofi
41.79
-7.31
-14.89%
GSK
GlaxoSmithKline
51.10
8.87
21.02%
JNJ
Johnson & Johnson
266.30
83.49
45.67%
NVS
Novartis
153.81
32.75
27.05%
NVO
Novo Nordisk
39.13
-11.21
-22.26%
PFE
Pfizer
29.79
6.90
30.12%
Sanofi Corporate Events
Sanofi Strikes Strategic Deal With Cheplapharm to Hand Over 20 Mature Medicines and Three Plants
Sep 17, 2026
On September 14, 2026, Sanofi announced a strategic partnership with Germany-based Cheplapharm, a European leader in well-established originator medicines, under which Cheplapharm will assume responsibility for 20 mature drugs and three manufactur...
Sanofi Wins EU Approval to Use MenQuadfi in Infants From Six Weeks
Aug 6, 2026
On August 4, 2026, Sanofi reported that the European Commission approved an extension of the indication for its MenQuadfi meningococcal conjugate vaccine to include infants from six weeks of age. Previously authorized only from 12 months and older...
Sanofi Reshapes Executive Committee for Next Strategic Chapter
Jul 27, 2026
On July 21, 2026, Sanofi announced a major evolution of its Executive Committee as it prepares its next strategic chapter. Effective September 1, 2026, the reshaped leadership team will span finance, RD, specialty care, vaccines, general medicines...
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.