Biogen is an established biopharmaceutical company focused on treatments for neurological diseases and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 45% of total revenue in 2024. Biogen also generates significant revenue from its CD20 collaboration agreements with Roche (18% of total in 2024), which includes oncology drugs Rituxan and Gazyva and multiple sclerosis drug Ocrevus. Biogen's newer franchises include Spinraza (spinal muscular atrophy, with partner Ionis), Leqembi (Alzheimer's disease, collabroation revenue from its partner Eisai), Skyclarys (Friedreich's ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (amyotrophic lateral sclerosis, Ionis).
Employees7,500IPONov 6, 2014SIC2834HQ225 Binney Street, Cambridge, MA, USA, 02142
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Financials
Profitability
Metric
Current
Margins
Gross Margin
75.7%
Operating Margin
25.0%
EBITDA Margin
26.3%
Net Margin
13.1%
OCF Margin
—
FCF Margin
19.9%
Returns on Capital
ROE
7.4%
ROA
4.5%
ROIC
9.1%
ROCE
7.5%
ROC (Greenblatt)
35.8%
3Y ROIIC
−6.6%
Consistency
Years Profitable / 10Y
10
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
26.77
Forward P/E
14.64
P/E ex-NRI
15.42
Shiller P/E (CAPE)
11.73
Cash Flow Multiples
P/FCF
17.63
P/OCF
15.75
P/Owner Earnings
31.56
FCF Yield
5.69%
Enterprise Value Multiples
EV / EBIT
20.40
EV / Forward EBIT
15.75
EV / EBITDA
14.29
EV / Forward EBITDA
11.71
EV / Revenue
3.76
EV / Forward Revenue
3.97
Asset / Sales
P/S
3.50
P/B
1.90
P/Tangible Book
13.39
Growth-Adjusted
PEG
—
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
0.00%
Forward Dividend Yield
0.00%
3Y Dividend Growth
0.0%
Payout Ratio
0.00
5Y Yield on Cost
0.00%
Buybacks & Dilution
3Y Buyback Ratio
−0.60%
5Y Share Change
−8.7%
Combined
Shareholder Yield
0.36%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
0.36
Gross Debt / EBITDA
2.53
Cash / Debt
0.58
Equity / Assets
0.62
Coverage
Interest Coverage
9.23
Short-Term Liquidity
Current Ratio
2.68
Quick Ratio
2.03
Cash Ratio
1.14
Composite Scores
Piotroski F-Score
4
Altman Z-Score
3.24
Split History
Date
Split
No split history found.
Ex-date
Amount
Pay date
No dividend history found.
Date
Transcript
Type
2026-07-29
Q2 2026 Biogen Inc Earnings Call Transcript
Earnings Call
2026-07-14
Biogen Inc at Alzheimer's Association International Conference (AAIC) Transcript
Analyst/Investor Call
2026-06-09
Biogen Inc Annual Shareholders Meeting Transcript
Shareholders and Annual Meetings
2026-05-13
Biogen Inc at Bank of America Global Healthcare Conference Transcript
Conference Presentations
2026-04-29
Q1 2026 Biogen Inc Earnings Call Transcript
Earnings Call
2026-03-18
Biogen Inc at Stifel Virtual CNS Forum Transcript
Conference Presentations
2026-03-10
Biogen Inc at Leerink Global Healthcare Conference Transcript
Conference Presentations
2026-03-02
Biogen Inc at TD Cowen Healthcare Conference Transcript
Conference Presentations
2026-02-06
Q4 2025 Biogen Inc Earnings Call Transcript
Earnings Call
2026-01-12
Biogen Inc at JPMorgan Healthcare Conference Transcript
Conference Presentations
10 of 90
5-Step DuPont Analysis
ROE %
7.39%
×
×
Net Margin %
13.07%
×
×
Operating Margin %
24.96%
Operating Income
$2.47B
÷
Revenue
$9.89B
×
Tax Burden
0.8304
Net Income
$1.29B
÷
Pretax Income
$1.56B
×
Interest Burden
0.6306
Pretax Income
$1.56B
÷
Operating Income
$2.47B
×
Asset Turnover
0.34
÷
Revenue
$9.89B
÷
Average Total Assets
$28.74B
Begin Total Assets
$28.05B
End Total Assets
$29.44B
×
Equity Multiplier
1.64
÷
Avg Total Assets
$28.74B
÷
Avg Stockholders Equity
$17.49B
Begin Equity
$16.72B
End Equity
$18.26B