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Friday 6 November 2026
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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.
- Revenue
- +10.6%
- EPS
- −104.4%
- Free cash flow
- −69.3%
- Total debt
- +16.0%
Quarter to September 2026, against a year earlier
248.54
4.61
+1.89%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
16.11 | 28.01 | 13.91 | 9.41 | 9.99 | 23.00 | 12.99 | 33.34 | 13.63 | 19.93 |
Piotroski F-Score |
5 | 5 | 7 | 6 | 6 | 5 | 5 | 4 | 6 | 4 |
Altman Z-Score |
5.68 | 6.11 | 5.42 | 4.78 | 3.87 | 3.51 | 4.30 | 3.50 | 2.83 | 3.13 |
P/S ratio |
5.21 | 5.79 | 4.58 | 3.86 | 2.93 | 3.26 | 3.89 | 3.94 | 2.30 | 2.61 |
P/FCF ratio |
15.46 | 27.45 | 11.63 | 8.66 | 10.71 | 10.64 | 22.98 | 31.35 | 8.85 | 12.77 |
Altman Z″-Score (non-manufacturers) |
6.37 | 6.14 | 5.90 | 5.56 | 4.87 | 4.57 | 6.14 | 4.67 | 4.78 | 5.67 |
Beneish M-Score |
(2.48) | (2.60) | (2.59) | (2.71) | (2.56) | (3.13) | (1.99) | (2.40) | (2.86) | (2.67) |
P/Operating CF |
37.71 | 46.79 | 32.53 | 28.32 | (107.32) | 42.67 | (226.36) | 3,099.01 | 29.26 | 50.37 |
P/B ratio |
4.92 | 5.64 | 4.73 | 4.16 | 3.69 | 3.26 | 2.96 | 2.62 | 1.33 | 1.41 |
Price to Tangible BV |
12.83 | 17.39 | 14.66 | 13.70 | 21.42 | 12.01 | 6.84 | 178.35 | 40.79 | 9.97 |
EV/Sales |
5.35 | 5.97 | 4.76 | 3.86 | 3.29 | 3.48 | 4.03 | 4.52 | 2.53 | 2.86 |
EV/EBITDA |
10.50 | 11.40 | 9.80 | 7.19 | 8.03 | 9.66 | 9.95 | 20.80 | 7.75 | 9.62 |
EV/Operating CF |
13.36 | 16.10 | 10.35 | 7.84 | 10.45 | 10.51 | 29.62 | 28.75 | 8.50 | 12.82 |
EV/FCF |
15.88 | 28.32 | 12.08 | 8.66 | 12.02 | 11.37 | 23.79 | 35.99 | 9.71 | 13.99 |
Quick Ratio |
1.85 | 1.63 | 1.67 | 1.31 | 1.21 | 1.25 | 2.02 | 0.79 | 0.68 | 1.54 |
Current Ratio |
2.55 | 2.34 | 2.32 | 1.72 | 1.84 | 1.83 | 2.99 | 2.00 | 1.35 | 2.68 |
Net Debt/EBITDA |
0.28 | 0.35 | 0.37 | 0.00 | 0.87 | 0.62 | 0.34 | 2.68 | 0.69 | 0.84 |
Debt/Assets |
28.47% | 25.09% | 23.47% | 16.37% | 30.16% | 26.28% | 25.58% | 25.29% | 16.21% | 21.35% |
Debt/Equity |
0.54 | 0.47 | 0.46 | 0.33 | 0.69 | 0.57 | 0.47 | 0.46 | 0.27 | 0.34 |
Asset Turnover |
0.54 | 0.53 | 0.55 | 0.55 | 0.52 | 0.45 | 0.42 | 0.38 | 0.35 | 0.34 |
Operating CF/Net income |
1.24 | 1.79 | 1.40 | 1.20 | 1.06 | 2.34 | 0.45 | 1.33 | 1.76 | 1.71 |
Capex/Depreciation |
(1.07) | (1.82) | (1.36) | (0.98) | (1.21) | (0.25) | 0.53 | (0.59) | (0.40) | (0.17) |
| 34.44% | 20.54% | 34.57% | 44.66% | 33.30% | 14.38% | 25.03% | 8.24% | 10.36% | 7.39% | |
| 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% |
Return on Tangible Assets |
47.39% | 33.03% | 55.75% | 87.04% | 61.02% | 22.31% | 31.04% | 17.24% | 31.95% | 14.89% |
Average Days of Receivables |
45.96 | 53.14 | 53.14 | 47.74 | 51.96 | 51.50 | 61.17 | 61.75 | 52.99 | 49.54 |
Research and Development Expense of Revenue |
17.24% | 18.36% | 19.31% | 15.86% | 29.68% | 22.78% | 21.93% | 24.86% | 20.47% | 17.98% |
Selling, General and Administrative Expense of Revenue |
17.00% | 15.76% | 15.66% | 16.52% | 18.63% | 24.35% | 23.63% | 25.92% | 24.84% | 24.61% |
Intangible Assets out of Total Assets |
0.33 | 0.36 | 0.35 | 0.34 | 0.36 | 0.33 | 0.31 | 0.54 | 0.58 | 0.53 |
Share Based Compensation of Revenue |
1.35% | 1.04% | 1.17% | 1.27% | 1.47% | 2.17% | 2.50% | 2.69% | 3.01% | 2.94% |
Graham Net Nets |
(0.03) | (0.04) | (0.07) | (0.10) | (0.18) | (0.14) | (0.03) | (0.13) | (0.17) | (0.09) |
Graham Number |
145.53 | 126.12 | 175.97 | 224.86 | 191.34 | 131.34 | 208.61 | 135.94 | 170.24 | 157.35 |
Earnings Yield |
6.21% | 3.57% | 7.19% | 10.62% | 10.01% | 4.35% | 7.70% | 3.00% | 7.34% | 5.02% |
Free Cash Flow Yield |
6.47% | 3.64% | 8.60% | 11.54% | 9.34% | 9.40% | 4.35% | 3.19% | 11.30% | 7.83% |
Revenue per Share |
52.42 | 57.73 | 65.66 | 76.85 | 83.56 | 73.65 | 70.02 | 67.97 | 66.46 | 67.51 |
Operating CF per Share |
21.00 | 21.41 | 30.20 | 37.83 | 26.29 | 24.41 | 9.53 | 10.69 | 19.75 | 15.05 |
Capex per Share |
(3.33) | (9.23) | (4.32) | (3.58) | (3.43) | (1.86) | 2.34 | (2.15) | (2.47) | (1.27) |
Free Cash Flow per Share |
17.67 | 12.17 | 25.87 | 34.25 | 22.86 | 22.56 | 11.86 | 8.54 | 17.28 | 13.78 |
Cash per Share |
22.41 | 17.35 | 17.27 | 23.92 | 16.22 | 25.50 | 33.67 | 7.26 | 16.31 | 26.05 |
Shareholders Equity per Share |
55.53 | 59.26 | 63.60 | 71.29 | 66.41 | 73.51 | 92.14 | 102.28 | 114.81 | 124.62 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
55.53 | 59.26 | 63.60 | 71.29 | 66.41 | 73.51 | 92.14 | 102.28 | 114.81 | 124.62 |
Free Cash Flow |
3,859.50 | 2,588.20 | 5,301.60 | 6,409.10 | 3,678.00 | 3,363.00 | 1,723.70 | 1,235.80 | 2,515.70 | 2,019.20 |
Working Capital |
5,312.30 | 4,505.10 | 4,345.70 | 3,518.00 | 3,144.90 | 3,558.30 | 6,518.40 | 3,425.00 | 1,928.00 | 5,624.70 |
Capital Expenditures |
(727.70) | (1,962.80) | (886.10) | (669.50) | (551.80) | (276.90) | 339.40 | (311.40) | (359.80) | (185.40) |
Net Current Asset Value |
(2,016.00) | (3,181.20) | (4,616.40) | (5,513.40) | (7,045.70) | (5,061.10) | (1,374.50) | (5,186.10) | (3,876.50) | (2,208.60) |
EV/EBIT |
11.89 | 13.71 | 10.88 | 7.88 | 8.76 | 13.46 | 11.77 | 27.59 | 10.86 | 15.17 |
Capex to Sales |
0.06 | 0.16 | 0.07 | 0.05 | 0.04 | 0.03 | (0.03) | 0.03 | 0.04 | 0.02 |
Price to Operating Income |
11.58 | 13.29 | 10.47 | 7.88 | 7.81 | 12.59 | 11.37 | 24.03 | 9.90 | 13.85 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.27 | 0.34 | 0.18 | 0.21 | 0.13 | 0.33 | 0.19 | 0.16 | 0.28 | 0.35 |
Cash ROIC |
16.40% | 11.65% | 23.56% | 28.77% | 17.75% | 15.99% | 7.02% | 5.46% | 10.64% | 7.12% |
Accounts Receivable Turnover |
8.58 | 7.60 | 7.18 | 7.49 | 7.09 | 6.34 | 6.25 | 5.84 | 6.31 | 7.20 |
Accounts Payable Turnover |
5.40 | 4.83 | 4.74 | 4.34 | 3.66 | 4.04 | 4.22 | 5.66 | 5.58 | 5.62 |
Inventory Turnover |
1.56 | 1.71 | 1.98 | 2.26 | 1.93 | 1.74 | 1.69 | 1.31 | 0.93 | 1.04 |
Average Days of Payables |
69.07 | 88.56 | 74.45 | 99.08 | 91.98 | 101.94 | 78.74 | 58.11 | 67.02 | 65.59 |
Days of Inventory on Hand |
247.23 | 202.14 | 186.87 | 150.11 | 216.06 | 233.82 | 215.38 | 364.14 | 388.71 | 329.16 |
Average Receivables |
1,334.30 | 1,614.30 | 1,872.75 | 1,919.50 | 1,897.15 | 1,731.60 | 1,627.20 | 1,684.55 | 1,534.45 | 1,373.60 |
Average Payables |
273.60 | 337.65 | 383.00 | 450.65 | 492.85 | 522.05 | 540.35 | 447.40 | 413.75 | 428.10 |
Average Inventory |
947.50 | 952.15 | 916.30 | 867.05 | 936.40 | 1,210.05 | 1,347.95 | 1,935.90 | 2,493.95 | 2,314.30 |
Average Assets |
21,190.80 | 23,264.70 | 24,470.75 | 26,261.60 | 25,926.60 | 24,248.10 | 24,215.70 | 25,699.45 | 27,447.05 | 28,744.40 |
Average Common Equity |
10,751.75 | 12,363.35 | 12,814.85 | 13,185.35 | 12,012.60 | 10,822.90 | 12,174.05 | 14,093.90 | 15,757.70 | 17,486.40 |
Columns are period end dates · fundamentals updated 5 Nov 2026