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

247.30 3.37 +1.38%
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) Operating margin

Alert me on Operating margin

Biogen Inc.'s operating margin over the twelve months to 30 September 2026 was 7.53%, down 11.3 percentage points from fiscal 2025 (18.8%). Over the past ten years it has ranged from 16.4% (fiscal 2023) to 49.0% (fiscal 2019); the current reading is higher than 18% of that period. That is below the Drug Manufacturers General industry median of 18.3% and above the Healthcare sector median of 0.00%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 18.8% (4.42)
FY2024 23.3% 6.86
FY2023 16.4% (17.85)
FY2022 34.2% 8.37
FY2021 25.9% (11.67)
FY2020 37.5% (11.44)
FY2019 49.0% 5.21
FY2018 43.8% 0.22
FY2017 43.6% (1.45)
FY2016 45.0% (0.44)

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 4.58% (0.94)
Jun 2026 5.52% (10.52)
Mar 2026 16.0% 11.72
Dec 2025 4.32% (19.01)
43 more quarters

Against its own ten years

Low 16.4% High 49.0%
Ten-year median 37.5%
Current reading's percentile 2

Operating margin against peers

Company Operating margin
NVO Novo Nordisk A/S compare 43.4%
AMGN Amgen Inc. compare 32.4%
AZN AstraZeneca PLC compare 23.7%
BMY Bristol Myers Squibb Company compare 22.7%
PFE Pfizer Inc. compare 21.4%
SNY Sanofi compare 18.7%
GSK GSK PLC Sponsored ADR compare 18.0%
BIIB Biogen Inc. 7.53%
GILD Gilead Sciences, Inc. compare −7.63%
Drug Manufacturers General industry median 18.3%
Healthcare sector median 0.00%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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