BIOGEN INC. BIIB

Healthcare SIC 2836 - Biological Products, (No Diagnostic Substances) NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Biological Product (except Diagnostic) Manufacturing derived Nasdaq

Biogen is a global biopharmaceutical company focused on discovering, developing and delivering innovative therapies for people living with serious and complex diseases. We have a broad portfolio of medicines to treat MS, have introduced the first approved treatment for SMA, co-developed treatments to address a defining pathology of Alzheimer's disease and launched the first approved treatment to target a genetic cause of ALS. We market the first and only drug approved in the U.S., the E.U. and certain international markets for the treatment of FA in adults and adolescents aged 16 years and older. We are focused on advancing our pipeline in neurology, specialized immunology and rare diseases. We support our drug discovery and development efforts through internal research and development programs, external collaborations and acquisitions.

Last close 250.69 2026-10-23
Market cap $37.01B 2026-03-31 share count
52-week range 138.00 - 254.41

Valuation FY2025 figures against the last close

P/S3.7x
P/E28.5x
P/FCF18.0x
EV/EBITDA—
Dividend yield—
Diluted EPS8.79

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $9.89B$9.68B$9.84B$10.17B$10.98B$13.44B$14.38B$13.45B$12.27B$11.45B
Cost of revenue $2.40B$2.31B$2.53B$2.28B$2.11B$1.81B$1.96B$1.82B$1.63B$1.48B
Gross profit $7.49B$7.37B$7.30B$7.90B$8.87B$11.64B$12.42B$11.64B$10.64B$9.97B
SG&A $2.43B$2.40B$2.55B$2.40B$2.67B$2.50B$2.37B$2.11B$1.93B$1.95B
Total operating expenses $8.33B$7.77B$8.54B$6.58B$9.24B$8.40B$7.34B$7.56B$6.93B$6.30B
Operating income ————$2.84B$4.55B$7.04B$5.89B$5.35B$5.15B
Interest expense $267.5M$250.3M$246.9M$246.6M$253.6M$222.5M$187.4M$200.6M$250.8M$260.0M
Pre-tax income $1.56B$1.91B$1.30B$3.59B$1.75B$5.05B$7.13B$5.90B$5.13B$4.93B
Income tax $263.6M$273.8M$135.3M$632.8M$52.5M$992.3M$1.16B$1.43B$2.46B$1.24B
Net income $1.29B$1.63B$1.16B$3.05B$1.56B$4.00B$5.89B$4.43B$2.54B$3.70B
EPS, basic 8.8311.218.0220.9610.4424.8631.4721.6311.9416.96
EPS, diluted 8.7911.187.9720.8710.4024.8031.4221.5811.9216.93
Shares, diluted (wtd. avg.) 147.1M145.9M145.6M146.0M149.6M161.3M187.4M205.3M213.0M218.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $3.01B$2.38B$1.05B$3.42B$2.26B$1.33B$2.91B$1.22B$1.57B$2.33B
Short-term investments $807.2M$0$0$1.47B$1.54B$1.28B$1.56B———
Receivables $1.34B$1.40B$1.66B$1.71B$1.55B$1.91B$1.88B$1.96B$1.79B$1.44B
Inventory $2.17B$2.46B$2.53B$1.34B$1.35B$1.07B$804.2M$929.9M$902.7M$1.00B
Total current assets $8.97B$7.46B$6.86B$9.79B$7.86B$6.89B$8.38B$7.64B$7.87B$8.73B
Property, plant and equipment $3.06B$3.18B$3.31B$3.30B$3.42B$3.41B$3.25B$3.60B$3.18B$2.50B
Goodwill $6.49B$6.48B$6.22B$5.75B$5.76B$5.76B$5.76B$5.71B$4.63B$3.67B
Other intangibles $9.18B$9.69B$8.36B$1.85B$2.22B$3.08B$3.53B$3.12B$3.88B$3.81B
Total assets $29.44B$28.05B$26.84B$24.55B$23.88B$24.62B$27.23B$25.29B$23.65B$22.88B
Accounts payable $432.0M$424.2M$403.3M$491.5M$589.2M$454.9M$530.8M$370.5M$395.5M$279.8M
Short-term debt $0$1.75B$150.0M$0$999.1M$0$1.50B$0$3.2M$4.7M
Total current liabilities $3.35B$5.53B$3.43B$3.27B$4.30B$3.74B$4.86B$3.30B$3.37B$3.42B
Long-term debt $6.29B$6.30B$6.94B$6.28B$6.27B$7.43B$4.46B$5.94B$5.93B$6.51B
Total liabilities $11.18B$11.33B$12.05B$11.17B$12.92B$13.93B$13.90B$12.26B$11.05B$10.75B
Retained earnings $20.55B$19.26B$17.63B$16.47B$13.91B$13.98B$16.46B$16.26B$15.81B$15.07B
Total equity $18.26B$16.72B$14.80B$13.39B$10.96B$10.69B$13.34B$13.03B$12.60B$12.14B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.20B$2.88B$1.55B$1.38B$3.64B$4.23B$7.08B$6.19B$4.55B$4.59B
Depreciation and amortisation $779.9M$673.2M$494.8M$518.4M$487.7M$457.2M$464.7M$650.5M$1.08B$682.7M
Stock-based compensation $290.8M$291.2M$264.2M$254.1M$238.6M$198.3M$182.3M$157.5M$128.0M$154.8M
Capital expenditure $153.8M$153.7M$277.0M$240.3M$258.1M$424.8M$514.5M$770.6M$867.4M$616.1M
Investing cash flow -$1.37B-$799.2M-$4.10B$1.58B-$563.7M-$608.6M$470.5M-$2.05B-$2.96B-$2.48B
Financing cash flow -$301.9M-$683.5M$149.3M-$1.75B-$2.09B-$5.27B-$5.86B-$4.47B-$2.38B-$1.05B
Buybacks —$0$0$750.0M$1.80B$6.68B$5.87B$4.35B$1.37B$1.00B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-187303.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 5B 10B 15B Revenue, FY2016: 11.4B Gross profit, FY2016: 10B Net income, FY2016: 3.7B Revenue, FY2017: 12.3B Gross profit, FY2017: 10.6B Net income, FY2017: 2.5B Revenue, FY2018: 13.5B Gross profit, FY2018: 11.6B Net income, FY2018: 4.4B Revenue, FY2019: 14.4B Gross profit, FY2019: 12.4B Net income, FY2019: 5.9B Revenue, FY2020: 13.4B Gross profit, FY2020: 11.6B Net income, FY2020: 4B Revenue, FY2021: 11B Gross profit, FY2021: 8.9B Net income, FY2021: 1.6B Revenue, FY2022: 10.2B Gross profit, FY2022: 7.9B Net income, FY2022: 3B Revenue, FY2023: 9.8B Gross profit, FY2023: 7.3B Net income, FY2023: 1.2B Revenue, FY2024: 9.7B Gross profit, FY2024: 7.4B Net income, FY2024: 1.6B Revenue, FY2025: 9.9B Gross profit, FY2025: 7.5B Net income, FY2025: 1.3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $11.45B $12.27B $13.45B $14.38B $13.44B $10.98B $10.17B $9.84B $9.68B $9.89B
Gross profit $9.97B $10.64B $11.64B $12.42B $11.64B $8.87B $7.90B $7.30B $7.37B $7.49B
Net income $3.70B $2.54B $4.43B $5.89B $4.00B $1.56B $3.05B $1.16B $1.63B $1.29B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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