Biogen Inc. (BIIB)
Biogen Inc. discovers, develops, manufactures, and delivers therapies in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, and TYSABRI for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; SKYCLARYS to treat Friedreich's Ataxia; QALSODY for treating amyotrophic lateral sclerosis; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE. It offers LEQEMBI for the treatment of Alzheimer's disease; ZURZUVAE for the treatment of postpartum depression; RITUXAN to treat non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; OCREVUS for relapsing MS and primary progressive MS; LUNSUMIO to treat relapsed or refractory follicular lymphoma; glofitamab for aRelapsed or refractory diffuse large B-cell lymphoma; and other anti-CD20 therapies. Biogen Inc. has collaboration and license agreements with Merz Therapeutics; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; UCB; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis; and Sage Therapeutics, Inc., as well as collaborations with Stoke Therapeutics, Inc. for the development and commercialization of zorevunersen, a disease modifying medicine for the treatment of Dravet syndrome; Dayra Therapeutics, Inc. to develop oral macrocyclic peptides; Vanqua Bio, Inc. for developing Vanqua's preclinical oral C5aR1 antagonist compound; City Therapeutics, Inc. to develop select novel RNAi therapies; and ALTEOGEN Inc. to develop subcutaneous (SC) formulations of biologics utilizing ALT-B4. The company was founded in 1978 and is headquartered in Cambridge, Massachusetts.
- Symbol
- BIIB
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Drug Manufacturers - General
- Market cap
- $32.37B
- 52 week range
- 138 - 230.49
Valuation
- Share price
- $219.88 (close of 2026-10-02)
- P/E (TTM)
- 23.52x
- Price to book
- 1.74x
- Price to free cash flow
- 13.36x
- Enterprise value
- $35.55B
- Book value per share
- $126.71
Price performance
| Period | Change |
|---|---|
| 1 day | -1.32% |
| 5 days | -3.39% |
| 1 month | -1.25% |
| 3 months | +1.74% |
| 6 months | +23.99% |
| Year to date | +24.94% |
| 1 year | +41.63% |
| 3 years | -13.04% |
| 5 years | -22.56% |
| 10 years | -29.76% |
| All time | +6924.92% |
Members of Congress who disclosed BIIB trades
Maria Elvira Salazar · Robert Bresnahan · Gilbert Ray Cisneros · Alan Armstrong · Kevin Hern
Super investors holding BIIB
Ken Griffin (Citadel) · Samantha McLemore (Patient Capital Management, LLC) · Sarah Ketterer (Causeway Capital Management LLC) · Hillman Capital (Hillman Capital Management, Inc)
Profitability and growth
- Return on equity
- 7.08%
- Return on assets
- 4.39%
- Gross margin
- 75.69%
- Net margin
- 13.07%
- EBITDA margin
- 26.33%
- Revenue growth
- 2.22%
- Net income growth
- -20.79%
- Free cash flow growth
- -24.65%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 7.49%
- Current ratio
- 3.06x
- Net debt to EBITDA
- 1.18x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $9.89B
- Cost of revenue
- $2.40B
- Gross profit
- $7.49B
- EBITDA
- $2.60B
- Net income
- $1.29B
- Earnings per share
- $8.83
- Interest expense
- $267.50M
- Shares outstanding
- 146.50M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|---|---|---|---|
| 2025-12-31 | $9.89B | $7.49B | $1.29B | $8.83 |
| 2024-12-31 | $9.68B | $7.37B | $1.63B | $11.21 |
| 2023-12-31 | $9.84B | $7.30B | $1.16B | $8.02 |
| 2022-12-31 | $10.17B | $7.90B | $3.05B | $20.96 |
| 2021-12-31 | $10.98B | $8.87B | $1.56B | $10.44 |
| 2020-12-31 | $13.44B | $11.64B | $4.00B | $24.86 |
| 2019-12-31 | $14.38B | $12.42B | $5.89B | $31.47 |
| 2018-12-31 | $13.45B | $11.64B | $4.43B | $21.63 |
| 2017-12-31 | $12.27B | $10.64B | $2.54B | $11.94 |
| 2016-12-31 | $11.45B | $9.97B | $3.70B | $16.96 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|---|---|---|---|
| 2025-12-31 | 75.69% | 13.07% | 7.08% | - |
| 2024-12-31 | 76.12% | 16.87% | 9.76% | - |
| 2023-12-31 | 74.24% | 11.81% | 7.85% | - |
| 2022-12-31 | 77.61% | 29.95% | 22.76% | - |
| 2021-12-31 | 80.79% | 14.17% | 14.20% | 17.01% |
| 2020-12-31 | 86.57% | 29.76% | 37.44% | 20.71% |
| 2019-12-31 | 86.40% | 40.96% | 44.14% | 38.64% |
| 2018-12-31 | 86.50% | 32.93% | 34.00% | 28.92% |
| 2017-12-31 | 86.72% | 20.69% | 20.15% | 19.45% |
| 2016-12-31 | 87.08% | 32.34% | 30.53% | 28.47% |
Cash and debt by year
| Period end | Cash | Debt |
|---|---|---|
| 2025-12-31 | $3.01B | $6.29B |
| 2024-12-31 | $2.38B | $6.30B |
| 2023-12-31 | $1.05B | $6.94B |
| 2022-12-31 | $3.42B | $6.28B |
| 2021-12-31 | $2.26B | $6.27B |
| 2020-12-31 | $1.33B | $7.43B |
| 2019-12-31 | $4.48B | $4.46B |
| 2018-12-31 | $3.54B | $5.94B |
| 2017-12-31 | $3.69B | $5.93B |
| 2016-12-31 | $4.90B | $6.51B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|---|---|
| 2025-12-31 | $2.05B | $290.80M |
| 2024-12-31 | $2.72B | $291.20M |
| 2023-12-31 | $1.27B | $264.20M |
| 2022-12-31 | $1.14B | $254.10M |
| 2021-12-31 | $3.38B | $238.60M |
| 2020-12-31 | $3.81B | $198.30M |
| 2019-12-31 | $6.56B | $182.30M |
| 2018-12-31 | $5.42B | $157.50M |
| 2017-12-31 | $3.68B | $128.00M |
| 2016-12-31 | $3.97B | $154.80M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-10-28
- Consensus EPS estimate
- $2.10
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|---|---|
| 2026-07-29 | Jun/2026 | $3.04 |
| 2026-04-29 | Mar/2026 | $2.95 |
| 2026-02-06 | Dec/2025 | $1.61 |
| 2025-10-30 | Sep/2025 | $3.89 |
| 2025-07-31 | Jun/2025 | $3.93 |
| 2025-05-01 | Mar/2025 | $3.26 |
| 2025-02-12 | Dec/2024 | $3.42 |
| 2025-02-11 | - | - |
Filings and sources
- Company website
- biogen.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
Similar companies
Organon & Co. (OGN) · Bristol Myers Squibb Co (BMY) · GSK plc (GSK) · Pfizer Inc (PFE) · Novo Nordisk A S (NVO) · Gilead Sciences, Inc. (GILD) · Amgen Inc (AMGN) · Teva Pharmaceutical Industries Ltd (TEVA)
Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
Explore
Company directory · S&P 500 heatmap · Earnings calendar · Super investor holdings · Congress trades