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Sanofi (SNY) earnings and revenue breakdown

Latest: Q3 2026 · 6-K filed Oct 30, 2026 · Sanofi (SNY) Q3 2026 earnings results →

Q3 2026 Revenue up 16% year over year to $14.4B · 21¢ of every $1 of revenue kept as net profit · operating margin 30.1%

Sanofi made $14.4B in Q3 2026 (+16% Y/Y): Sales at constant exchange rates $14.2B, Effect of exchange rates $228M. Operating margin 30.1%, net earnings $3.0B. See where every dollar goes — costs, profit and cash — as a Sankey from the 6-K filed Oct 30, 2026.

Revenue$14.4B
Year over year+16%
Operating margin30.1%
Net earnings$3.0B
Operating cash flow—

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was €14.4B in Q3 2026, up 16% year over year. Sales at constant exchange rates was the largest line at 98% of revenue.

Gross margin was 80.3%, up 1.8 points from a year earlier. Operating profit was €4.3B, a 30.1% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 36% reached operating profit, above the 29% margin then. Operating expenses grew 18% against revenue growth of 16%. The fastest-growing cost line was Other operating costs (+26%). Net earnings were €3.0B, up 8% year over year. The effective tax rate was -65.2%.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 20266-KOct 30, 2026$14.4B+16%30.1%$3.0B—

Charts

Sanofi in its industry: growth against margin (228 companies, SIC 2834)Sanofi in its industry: growth against margin (228 companies, SIC 2834)revenue growth, year over year →↑ operating marginmedian +11%median -47%NVOJNJLLYMRKABBVPFENVSBMYABTREGNTEVAVTRSVRTXBHCZTSONCOGNALNYELANJAZZBMRNPRGOAMRXUTHRRPRXNRIXINSMKeenova Therapeutics plcALKSMDGLPAHCSRPTPTCTINDVBBIOACADCORTPBHANIPKNSAPTGXHRMYIONSAXSMTGTXSUPNTVTXCOLLVREOFAMPHMIRMPCRXRARELQDAARQTIRWDARDXNATRXNCREBSZLABXERSINVACRMDMNKDRYTMURGNPHATAUPHSNDXRIGLLGNDEOLSARWRPGENHROWVNDAOPKSDGRGERNETONAGIOPBYITNGXCYRXCYTKMRVIORGONUVBLFVNSIGAKROSAMRNZVRASPRYHRTXAKBABCYCKPTIGYREMGNXELTPSEPNVRDNLFCRCrinetics Pharmaceuticals, Inc.VSTMKURATBPHLABADCTNAMSFBIOXLODERMARCTRMTIAYTUFHTXENTATNXPOCULASMBWVEAPMDBFRIABEOSTOKLXRXCAPRIDYANKTRZOMDFINBPJANXSBFMGOSSETSTRCUSCPIXLIFDCUEAQSTPRAXWHWKVERUEMMAGENBVRCACELUQUREZYMEEQABCLIMNMKYNBAKTSRNACVSICNTBTRAWISCOEVFMTVRDLPCNCAMPAtaiBeckley Inc.CTMXALMSPMHSACRSVTGNROIVKRROJAGXENSCKRSAABUSPRPHSTTKCPHITRDATXMDGOVXNWBOBIOEUPBIRDOVIDSPRBXBIOPRTAMCRBARVNMNOVSLNIGCBIOALGVNDNTHCPMDSPRORFLCOYASCYXBFRGSXTPBTAIQHCWBSERYARWRNACRGBPAVTXCLNNNTHIHINDAAGHALTONCOCRVOSKVIBOLTBDPTLYELIBOPULMSNY (+16%, 30%)
Pharmaceutical Preparations; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Sanofi against its Pharmaceutical Preparations peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +16% against the peers' median +6%. Operating margin: 30.1% against the peers' median 30.1%.

CompanyQuarterRevenueY/YOp. margin
SNY SanofiQ3 2026$16.6B+16%30.1%
NVO Novo Nordisk A SFY2025$46.8B+6%41.3%
JNJ Johnson & JohnsonQ3 2026$25.4B+6%0.1%
LLY ELI LillyQ3 2026$24.4B+39%34.5%
MRK MerckQ3 2026$18.1B+5%30.7%
ABBV AbbVieQ3 2026$17.4B+10%36.0%
PFE PfizerQ3 2026$16.6B-0.4%20.4%
NVS Novartis AGQ3 2026$14.5B+4%12.7%
BMY Bristol Myers SquibbQ3 2026$13.1B+7%19.4%

Source: Sanofi 6-K on SEC EDGAR · CIK 1121404 · Pharmaceutical Preparations

13F: who owns SNY and who is buying

Largest holders of SNY (13F)Largest holders of SNY (13F)Dodge & COX$1.2BMorgan Stanley$457MFisher Asset Management, LLC$453MBank of America$342MInvesco$290MMondrian Investment Partners$233MBrandes Investment Partners, LP$176MFederated Hermes$164MBoston Partners$164MMillennium Management LLC$159M
Funds' net buying of SNY by quarter (13F)Funds' net buying of SNY by quarter (13F)−$250M2024-09−$577M2024-12−$269M2025-03−$367M2025-06−$670M2025-09−$723M2025-12−$536M2026-03−$726M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SNY

History

Every quarter: Q3 2026 results

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