Sanofi

ENXTPA:SAN Stock Report

Market Cap: €91.7b

Sanofi Future Growth

Future criteria checks 2/6

Sanofi is forecast to grow earnings and revenue by 16.9% and 4.5% per annum respectively. EPS is expected to grow by 18% per annum. Return on equity is forecast to be 14.5% in 3 years.

Key information

16.9%

Earnings growth rate

18.00%

EPS growth rate

Pharmaceuticals earnings growth16.0%
Revenue growth rate4.5%
Future return on equity14.52%
Analyst coverage

Good

Last updated04 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 04

SAN: Future Upside Will Depend On AI Execution And R&D Pipeline Delivery

Analysts have nudged their fair value estimate for Sanofi higher from €95.53 to €97.10, citing slightly adjusted assumptions on discount rate, revenue growth, profit margins and future P/E as the basis for the updated price target. Analyst Commentary Bullish analysts framing the updated fair value for Sanofi around €97.10 are effectively signaling confidence that the company can execute in line with, or slightly ahead of, their refined assumptions on discount rate, revenue trajectory, margins and implied future P/E.
Analysis Article • May 04

Sanofi's (EPA:SAN) Conservative Accounting Might Explain Soft Earnings

Shareholders appeared unconcerned with Sanofi's ( EPA:SAN ) lackluster earnings report last week. We think that the...
Narrative Update • Apr 22

SAN: Future Upside Will Rely On Pipeline Delivery And Margin Execution

Sanofi's analyst price target has been adjusted slightly lower to €95.53 from €96.10, as analysts factor in marginally higher revenue growth expectations, a modestly lower profit margin and a revised forward P/E assumption. Analyst Commentary Recent Street research on large European financials and cross border bank transactions offers a useful lens for thinking about how analysts might be framing Sanofi's current valuation reset and execution risks, even though the specific notes focus on banks rather than pharmaceuticals.
New Narrative • Apr 14

Pipeline And Vaccine Catalysts Will Reshape This Pharma Leader Over The Next Decade

Catalysts About Sanofi Sanofi is a global biopharma group focused on prescription medicines, vaccines and specialty care therapies. What are the underlying business or industry changes driving this perspective?
Narrative Update • Apr 07

SAN: Future Upside Will Rely On Pipeline Delivery And Margin Expansion

Analysts trimmed Sanofi's fair value estimate by €2.00 to €96.10, citing updated assumptions that include slightly different revenue growth, a higher profit margin profile, and a lower future P/E multiple. Analyst Commentary Recent Street research on European financials and cross border bank deals offers some reference points that investors can use when thinking about Sanofi's updated fair value and how sentiment can swing as assumptions change.
New Narrative • Mar 31

Rising R&D Burden And Pipeline Risk Will Challenge Long Term Profitability

Catalysts About Sanofi Sanofi is a global biopharmaceutical company focused on prescription medicines, vaccines and specialty care therapies. What are the underlying business or industry changes driving this perspective?
Narrative Update • Mar 24

SAN: Future Upside Will Rely On Pipeline Execution And Margin Strength

Sanofi's analyst price target has been adjusted to €98.10 from €98.49 as analysts factor in slightly higher assumed revenue growth, stronger profit margins and a lower future P/E multiple in their updated models. Analyst Commentary Analysts updating their models for Sanofi are weighing the slightly higher revenue assumptions and stronger margin profile against a more conservative future P/E multiple.
Narrative Update • Mar 09

SAN: Future Upside Will Rely On Pipeline Execution And Margin Resilience

Analysts have nudged their price target on Sanofi higher to €98.49, reflecting slightly firmer revenue growth assumptions and a nearly unchanged long-term profit margin and P/E outlook. Analyst Commentary Analysts covering Sanofi are broadly focused on how the updated €98.49 price target lines up with the company’s ability to execute on its plan, sustain its profit profile and justify its current P/E.
Narrative Update • Feb 23

SAN: Future Upside Will Rely On Pipeline Delivery And Margin Stability

Analysts have trimmed their Sanofi price target slightly to €98.49. The change is tied to more cautious assumptions for revenue growth, profit margins and a modestly higher future P/E multiple.
Narrative Update • Feb 09

SAN: Future Upside Will Depend On Pipeline Execution And Margin Resilience

Analysts have trimmed their Sanofi price targets slightly, with fair value moving from about €101 to about €99 as they factor in a modestly higher discount rate, slightly softer revenue growth assumptions around 3.6% and a marginally lower expected profit margin near 19.7%, paired with a future P/E closer to 12.8x. Analyst Commentary Recent updates to Sanofi valuation assumptions, including a modestly higher discount rate and slightly softer revenue and margin expectations, have led analysts to fine tune their views rather than overhaul them.
Narrative Update • Jan 25

SAN: Future Upside Will Depend On Pipeline Approvals And Margin Discipline

Analysts have trimmed their price target on Sanofi to reflect a fair value move from €102.77 to €100.96, citing updated assumptions around revenue growth, profit margins and future P/E levels. Analyst Commentary While the latest fair value trim for Sanofi is modest, it still reflects a tight range of outcomes that analysts see as reasonable based on current assumptions around growth, profitability and P/E levels.
Narrative Update • Jan 11

SAN: Future Upside Will Depend On Pipeline Approvals And Margin Discipline

Analysts have trimmed their fair value estimate for Sanofi from about €104.87 to roughly €102.77, pointing to slightly softer assumptions for revenue growth, profit margins and future P/E as key drivers of the updated price target outlook. Analyst Commentary Recent fair value adjustments for Sanofi sit against a backdrop of active price target revisions across European equities, including large financials, where several research desks have been updating their expectations.
Narrative Update • Dec 25

SAN: Future Upside Will Depend On Pipeline Delivery And Cost Discipline

Analysts have trimmed their price target for Sanofi modestly, cutting their fair value estimate by about EUR 0.33 to roughly EUR 104.87. They cite slightly slower revenue growth, a softer profit margin profile, and a marginally higher future earnings multiple as the main factors behind this adjustment.
Narrative Update • Dec 11

SAN: Future Returns Will Depend On Execution Of Late-Stage Pipeline

Analysts have nudged their fair value estimate for Sanofi slightly lower from EUR 106.26 to about EUR 105.20, citing marginally softer revenue growth assumptions, partially offset by a modestly stronger profit margin outlook and a slightly reduced forward P E multiple. Analyst Commentary Analyst sentiment on Sanofi remains broadly constructive, with recent fair value adjustments reflecting a more nuanced balance between growth ambitions and execution risks.
Narrative Update • Nov 27

SAN: Future Momentum Will Depend On Execution Of New Pipeline Approvals

Sanofi's analyst price target has been modestly adjusted downward from $106.85 to $106.26. Analysts point to slight improvements in profit margin and future valuation metrics while maintaining a broadly stable outlook.
Narrative Update • Nov 10

SAN: Forward Momentum Will Rely On Pipeline Success And Operational Execution

Sanofi's analyst price target saw a slight decrease to $106.85 from $106.90. Analysts cite moderating revenue growth expectations and a slightly higher discount rate impacting the updated valuation.
Analysis Article • Oct 31

We Think Sanofi's (EPA:SAN) Healthy Earnings Might Be Conservative

Sanofi's ( EPA:SAN ) recent earnings report didn't offer any surprises, with the shares unchanged over the last week...
Narrative Update • Oct 27

Future Shareholder Returns Will Depend On Commercial Execution And Pipeline Momentum

Sanofi's analyst price target has been slightly lowered from €108.31 to €106.90. Analysts cite modest improvements in revenue growth and profit margin, but note a more conservative outlook for the company's future valuation.
Narrative Update • Sep 12

Pipeline Advances And Acquisitions Will Expand Therapeutic Horizons

Sanofi's slight decline in future P/E alongside an improved net profit margin suggests a modestly stronger earnings outlook, although this was not enough to materially shift the consensus analyst price target, which decreased fractionally from €109.22 to €108.31. What's in the News FDA approved Wayrilz (rilzabrutinib) for adults with persistent or chronic immune thrombocytopenia (ITP) after insufficient response to previous treatment, based on positive Phase 3 results; also approved in UAE and under review in EU and China, with Fast Track and Orphan Drug designations for multiple indications.
Analysis Article • Jul 27

Cautious Investors Not Rewarding Sanofi's (EPA:SAN) Performance Completely

With a median price-to-earnings (or "P/E") ratio of close to 16x in France, you could be forgiven for feeling...

Earnings and Revenue Growth Forecasts

ENXTPA:SAN - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202852,42110,33610,24913,6458
12/31/202749,9428,9359,13312,51610
12/31/202647,0458,1348,59311,91710
3/31/202647,3544,8296,80210,340N/A
12/31/202546,7164,9397,21210,750N/A
9/30/202545,9316,4307,92111,116N/A
6/30/202545,7386,3838,40311,214N/A
3/31/202545,1666,2187,89111,086N/A
12/31/202444,2865,4965,8869,081N/A
9/30/202448,4454,506N/AN/AN/A
6/30/202439,5473,6764,3378,117N/A
3/31/202446,2884,538N/AN/AN/A
12/31/202341,1095,0627,35210,258N/A
9/30/202345,6999,066N/AN/AN/A
6/30/202346,0458,6178,10710,264N/A
3/31/202346,1998,357N/AN/AN/A
12/31/202240,3047,9708,42310,526N/A
9/30/202244,3486,409N/AN/AN/A
6/30/202242,0396,6437,5949,620N/A
3/31/202240,3426,666N/AN/AN/A
12/31/202139,1756,2238,47910,522N/A
9/30/202138,4966,174N/AN/AN/A
6/30/202137,5465,7775,8278,219N/A
3/31/202136,93912,197N/AN/AN/A
12/31/202037,36912,2945,3357,418N/A
9/30/202037,65011,224N/AN/AN/A
6/30/202037,69211,1386,8348,491N/A
3/31/202038,2343,453N/AN/AN/A
12/31/201937,6312,855N/A7,715N/A
9/30/201936,9403,179N/AN/AN/A
6/30/201936,7633,591N/A6,953N/A
3/31/201936,2644,439N/AN/AN/A
12/31/201835,6774,319N/A5,547N/A
9/30/201835,3164,041N/AN/AN/A
6/30/201834,9853,243N/A6,596N/A
3/31/201835,4283,539N/AN/AN/A
12/31/201736,2213,773N/A7,379N/A
9/30/201736,4004,593N/AN/AN/A
6/30/201736,3154,744N/A8,133N/A
3/31/201735,6774,682N/AN/AN/A
12/31/201634,6964,395N/A7,838N/A
9/30/201634,3494,195N/AN/AN/A
6/30/201634,1154,154N/A8,122N/A
3/31/201634,5694,440N/AN/AN/A
12/31/201534,8614,411N/A8,920N/A
9/30/201537,2015,292N/AN/AN/A
6/30/201532,9104,628N/A8,561N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: SAN's forecast earnings growth (16.9% per year) is above the savings rate (2.5%).

Earnings vs Market: SAN's earnings (16.9% per year) are forecast to grow faster than the French market (12.5% per year).

High Growth Earnings: SAN's earnings are forecast to grow, but not significantly.

Revenue vs Market: SAN's revenue (4.5% per year) is forecast to grow slower than the French market (5.7% per year).

High Growth Revenue: SAN's revenue (4.5% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: SAN's Return on Equity is forecast to be low in 3 years time (14.5%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/05 17:45
End of Day Share Price 2026/06/05 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Sanofi is covered by 50 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John EadeArgus Research Company
Odile RundquistBaader Helvea Equity Research
null nullBanco de Sabadell. S.A.