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Sanofi (SNY) FY2025 earnings results (fiscal 2025)
20-F filed Feb 17, 2026
Sanofi (SNY) reported revenue of $43.6B for the fiscal 2025 (FY2025), +6% from a year earlier. Operating margin was 14.5%, net earnings $7.8B (17.9% of revenue).
Sanofi, FY2025: revenue $43.6B (+6% year over year), operating margin 14.5%, net earnings $7.8B, operating cash flow $10.8B. The chart follows the revenue to costs, profit and cash.
| FY2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.6B | — | +6% |
| Gross profit | $33.7B | — | +8% |
| Operating profit | $6.3B | — | -13% |
| Net earnings | $7.8B | — | +41% |
| Operating cash flow | $10.8B | — | +18% |
What changed
Revenue was €43.6B in FY2025, up 6% year over year.
Gross margin was 77.2%, up 1.5 points from FY2024. Operating profit was €6.3B, a 14.5% margin (down 3.1 points year over year). Operating profit fell €0.91B even though revenue rose €2.5B versus FY2024, so costs grew faster than sales. Operating expenses grew 15% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+37%). Net earnings were €7.8B, up 41% year over year. The effective tax rate was 11.7%. Non-operating items added €2.5B, 29% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was €10.8B (up 18% year over year), 137% of net earnings. Non-cash charges added back €0.31B of share-based compensation. Working capital and other items added €2.6B.
Questions
What was Sanofi's revenue in the fiscal 2025?
Sanofi (SNY) reported revenue of $43.6B for the fiscal 2025 (FY2025), +6% from a year earlier.
Was Sanofi profitable in the fiscal 2025?
Operating profit was $6.3B (14.5% of revenue) and net earnings $7.8B.
Source: Sanofi 20-F on SEC EDGAR.