Saturday 17 October 2026 Export BIIB’s income statement to Excel — free account

Biogen Inc.

BIIB Healthcare Drug Manufacturers General

Biogen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.9 billion, up 2.22% from fiscal 2024. In the quarter to June 2026, revenue grew 3.42%, EPS fell 84.8%, free cash flow grew 103.3% and total debt rose 16.0%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

232.65 2.70 −1.15%

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Market cap: $34.8B
P/E: 41.0×
Fwd P/E: 31.5×
Dividend yield: —
F-score: 4/9
Altman Z: 3.13
Beneish M: −2.67
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 0.00

Total sells 0.91

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	—	—	—	—	—	—
Sell	—	—	—	2	—	—	—	—	—	1	—	—

Insider Ownership 0.72%

Capital & Financial Ratios $m

Market Cap 34,770.00

Revenue 10,027.90

Net Income 834.60

Free Cash Flow 2,540.00

Net Debt 6,005.30

Current Ratio 1.87

Debt/Equity 0.39

P/E ratio 40.96

Fwd P/E 31.50

P/S ratio 3.43

P/B ratio 1.82

Past 5Y EPS Growth (18.73%)

This Y EPS Growth (18.88%)

Next Y EPS Growth 33.05%

Next Y revenue growth 5.54%

Next 5Y EPS Growth 6.78%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 99.93%

10-year low 10-year high

P/S against its own 10 years 46.77%

10-year low 10-year high

P/B against its own 10 years 19.28%

10-year low 10-year high

EV/Sales against its own 10 years 57.87%

10-year low 10-year high

EV/FCF against its own 10 years 55.51%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,050	2,375	3,816	1,285
Receivables	1,664	1,405	1,342	1,886
Inventory	2,527	2,461	2,168	2,384
Other	1,618	1,217	1,648	1,751
	6,859	7,457	8,974	7,306

	2023	2024	2025	Q'26
Payables	403	424	432	404
ST’ Debt	—	—	—	—
Other	—	—	—	—
	3,434	5,529	3,349	3,917

Compound Annual Growth %

	10y	5y	3y
Sales	(0.84%)	(5.96%)	(0.94%)
Cash Flow	(5.59%)	(12.22%)	16.78%
Earnings	(9.60%)	(20.22%)	(24.85%)
Book Value	6.89%	11.31%	10.89%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,478	2,736	—	—	—
’25	2,431	2,646	2,535	2,279	9,891
’24	2,291	2,465	2,466	2,455	9,676
’23	2,463	2,456	2,530	2,386	9,836
’22	2,532	2,589	2,509	2,544	10,173
’21	2,694	2,775	2,779	2,734	10,982
’20	3,534	3,682	3,376	2,853	13,445

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	646	449	—	—	—
’25	259	161	1,273	512	2,205
’24	553	626	936	761	2,876
’23	455	487	592	13	1,547
’22	162	737	661	(175)	1,384
’21	769	1,227	805	838	3,640
’20	1,467	1,949	1,181	(367)	4,230

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	594	273	—	—	—
’25	212	134	1,221	452	2,019
’24	432	583	806	695	2,516
’23	384	400	505	(53)	1,236
’22	104	698	1,185	(262)	1,724
’21	676	1,155	743	788	3,363
’20	1,206	1,844	1,097	(468)	3,678

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.15	0.66	—	—	—
’25	1.64	4.33	3.17	(0.33)	8.79
’24	2.70	4.00	2.66	1.83	11.18
’23	2.67	4.07	(0.47)	1.71	7.97
’22	2.06	7.24	7.84	3.79	20.87
’21	2.69	2.99	2.22	2.50	10.40
’20	8.08	9.59	4.46	2.32	24.80

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	223.02	244.28	249.17	215.78	223.25	221.72	187.16	220.86	145.07	110.04	Analyst estimates 2026–2028 Powerpack
	High	333.65	348.84	388.67	344.00	374.99	468.55	311.88	319.76	268.30	185.17
People
People	Employees	7,400	7,300	7,800	7,400	9,100	9,610	8,725	7,570	7,605	7,500
	Revenue/emp, $m	1.55	1.68	1.72	1.94	1.48	1.14	1.17	1.30	1.27	1.32
Income, $m
Income, $m	Revenue	11,449	12,274	13,453	14,378	13,445	10,982	10,173	9,836	9,676	9,891
	Gross margin, %	87.08	86.72	86.50	86.40	86.57	80.79	77.61	74.24	76.12	75.69
	EBT	4,933	5,129	5,900	7,126	5,048	1,745	3,592	1,297	1,906	1,557
	EBT margin, %	43.09	41.79	43.85	49.56	37.54	15.89	35.31	13.18	19.70	15.74
	Net income	3,696	2,670	4,474	5,889	4,061	1,728	2,962	1,162	1,632	1,293
	Depreciation	683	1,081	651	681	457	1,117	638	526	903	1,074
Per share, $
Per share, $	Revenue	52.42	57.73	65.66	76.85	83.56	73.65	70.02	67.97	66.46	67.51
	Earnings	16.96	11.94	21.63	31.47	24.86	10.44	20.97	8.02	11.21	8.83
	Cash flow	21.00	21.41	30.20	37.83	26.29	24.41	9.53	10.69	19.75	15.05
	Capex	(3.33)	(9.23)	(4.32)	(3.58)	(3.43)	(1.86)	2.34	(2.15)	(2.47)	(1.27)
	Free cash flow	17.67	12.17	25.87	34.25	22.86	22.56	11.86	8.54	17.28	13.78
	Book value	55.53	59.26	63.60	71.29	66.41	73.51	92.14	102.28	114.81	124.62
	Shares, m	218	213	205	187	161	149	145	145	146	147
Valuation, ×
Valuation, ×	P/E	17.21	28.01	13.91	9.41	9.99	23.00	12.99	33.34	13.63	19.93
	P/S	5.56	5.79	4.58	3.86	2.93	3.26	3.89	3.94	2.30	2.61
	P/B	5.25	5.64	4.73	4.16	3.69	3.26	2.96	2.62	1.33	1.41
	EV/Sales	5.71	5.97	4.76	3.86	3.29	3.48	4.03	4.52	2.53	2.86
	EV/FCF	16.93	28.32	12.08	8.66	12.02	11.37	23.79	35.99	9.71	13.99
Cash, $m
Cash, $m	Operating cash flow	4,587	4,551	6,188	7,079	4,230	3,640	1,384	1,547	2,876	2,205
	Capex	(728)	(1,963)	(886)	(669)	(552)	(277)	339	(311)	(360)	(185)
	Free cash flow	3,860	2,588	5,302	6,409	3,678	3,363	1,724	1,236	2,516	2,019
Balance, $m
Balance, $m	Working capital	5,312	4,505	4,346	3,518	3,145	3,558	6,518	3,425	1,928	5,625
	Total debt	6,513	5,935	5,937	4,459	7,426	6,274	6,281	6,788	4,547	6,287
	Net debt	1,618	2,246	2,399	(17)	4,816	2,472	1,388	5,738	2,172	2,471
	Shareholders’ equity	12,129	12,598	13,032	13,339	10,686	10,960	13,388	14,799	16,716	18,257
Returns, %
Returns, %	ROA	17.47	10.91	18.11	22.42	15.43	6.42	12.58	4.52	5.95	4.50
	ROIC	23.42	22.51	23.85	33.04	20.35	13.22	14.73	4.91	7.44	5.61
	ROE	34.44	20.54	34.57	44.66	33.30	14.38	25.03	8.24	10.36	7.39

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
AZN AstraZeneca PLC	$258.5B	24.5×	23.4×	+6.41% (above 0%: growing)	+1.90% (above 0%: growing)	−107.45% (below 0%: shrinking)	83.60%	20.57%	Compare
AMGN Amgen Inc.	$234.7B	26.7×	22.7×	+9.53% (above 0%: growing)	+65.41% (above 0%: growing)	+82.57% (above 0%: growing)	72.04%	34.95%	Compare
GILD Gilead Sciences, Inc.	$195.1B	— (loss-making)	— (loss-making)	+10.18% (above 0%: growing)	n/m	+376.81% (above 0%: growing)	79.76%	(133.21%)	Compare
PFE Pfizer Inc.	$167.8B	38.9×	12.2×	+2.60% (above 0%: growing)	n/m	+125.17% (above 0%: growing)	72.78%	20.38%	Compare
NVO Novo Nordisk A/S	$131.2B	9.5×	—	+4.47% (above 0%: growing)	−18.68% (below 0%: shrinking)	+71.57% (above 0%: growing)	78.21%	34.48%	Compare
BMY Bristol Myers Squibb Company	$123.7B	13.2×	11.2×	+5.74% (above 0%: growing)	+153.13% (above 0%: growing)	−13.16% (below 0%: shrinking)	71.28%	31.50%	Compare
GSK GSK PLC Sponsored ADR	$98.2B	15.4×	12.4×	+5.81% (above 0%: growing)	−69.47% (below 0%: shrinking)	+54.83% (above 0%: growing)	73.05%	5.72%	Compare
SNY Sanofi	$96.0B	21.3×	—	+17.35% (above 0%: growing)	−90.76% (below 0%: shrinking)	−45.06% (below 0%: shrinking)	75.47%	17.48%	Compare
BIIB Biogen Inc.	$34.8B	41.0×	31.5×	+3.42% (above 0%: growing)	−84.76% (below 0%: shrinking)	+103.28% (above 0%: growing)	71.60%	5.52%
Median of peers	$149.5B	21.3×	12.4×	+6.11%	−8.39%	+63.20%	74.26%	20.48%

All 21 Drug Manufacturers General stocks →

Biogen Inc. (BIIB) key facts

Concern: Net income was $1.3 billion, or $8.83 per share (basic), a net margin of 13.1%.
Strength: Biogen Inc.’s revenue for fiscal 2025 (year ended December 2025) was $9.9 billion, up 2.22% from fiscal 2024.
Biogen Inc. (BIIB) is a Drug Manufacturers General company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, BIIB traded at $232.65, a market capitalization of $34.8 billion.
At that price the stock trades at 41.0× trailing-twelve-month earnings and 3.4× sales; its P/E is higher than 100% of its own readings over the past ten years.
Return on equity was 7.39% and debt-to-equity 0.39.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 3.13 (safe zone) for fiscal 2025.