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%
Market cap
$36.1B
P/E
104×
Fwd P/E
47.4×
Dividend yield
—
F-score
4/9
Altman Z
3.13
Beneish M
−2.67
Dividend safety
n/a

Biogen Inc. (BIIB) Free cash flow margin

Alert me on Free cash flow margin

Biogen Inc.'s free cash flow margin over the twelve months to 30 September 2026 was 16.5%, down 4.0 percentage points from fiscal 2025 (20.4%). Over the past ten years it has ranged from 12.6% (fiscal 2023) to 44.6% (fiscal 2019); the current reading is higher than 27% of that period. That is below the Drug Manufacturers General industry median of 18.5% and above the Healthcare sector median of 0.00%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 20.4% (5.58)
FY2024 26.0% 13.44
FY2023 12.6% (4.38)
FY2022 16.9% (13.68)
FY2021 30.6% 3.26
FY2020 27.4% (17.22)
FY2019 44.6% 5.17
FY2018 39.4% 18.32
FY2017 21.1% (12.62)
FY2016 33.7% 3.41

Against its own ten years

Low 12.6% High 44.6%
Ten-year median 27.4%
Current reading's percentile 27

Free cash flow margin against peers

Company Free cash flow margin
GILD Gilead Sciences, Inc. compare 44.5%
SNY Sanofi compare 40.3%
AMGN Amgen Inc. compare 24.6%
GSK GSK PLC Sponsored ADR compare 19.7%
BMY Bristol Myers Squibb Company compare 18.6%
PFE Pfizer Inc. compare 18.5%
BIIB Biogen Inc. 16.5%
NVO Novo Nordisk A/S compare 14.8%
AZN AstraZeneca PLC compare 10.2%
Drug Manufacturers General industry median 18.5%
Healthcare sector median 0.00%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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