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Biogen (BIIB)

Nasdaq Health Care Biotechnology S&P 500
$248.35
+4.42 (+1.81%)
Close of Nov 06, 2026 · end-of-day data
Source: Biogen's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$11.45B$12.27B$13.45B$14.38B$13.44B$10.98B$10.17B$9.84B$9.68B$9.89B
Cost of revenue$1.48B$1.63B$1.82B$1.96B$1.81B$2.11B$2.28B$2.53B$2.31B$2.40B
Gross profit$9.97B$10.64B$11.64B$12.42B$11.64B$8.87B$7.90B$7.30B$7.37B$7.49B
Research & development$1.97B$2.25B$2.60B$2.28B$3.99B$2.50B$2.23B$2.45B$1.98B$1.78B
Selling, general & admin$1.95B$1.93B$2.11B$2.37B$2.50B$2.67B$2.40B$2.55B$2.40B$2.43B
Operating income$5.15B$5.35B$5.89B$7.04B$4.55B$2.84B————
Interest expense$260.00M$250.80M$200.60M$187.40M$222.50M$253.60M$246.60M$246.90M$250.30M$267.50M
Pre-tax income$4.93B$5.13B$5.90B$7.13B$5.05B$1.75B$3.59B$1.30B$1.91B$1.56B
Income tax$1.24B$2.46B$1.43B$1.16B$992.30M$52.50M$632.80M$135.30M$273.80M$263.60M
Net income$3.70B$2.54B$4.43B$5.89B$4.00B$1.56B$3.05B$1.16B$1.63B$1.29B
EBITDA$5.83B$6.43B$6.54B$7.51B$5.01B$3.33B————
EPS (basic)$16.96$11.94$21.63$31.47$24.86$10.44$20.96$8.02$11.21$8.83
EPS (diluted)$16.93$11.92$21.58$31.42$24.80$10.40$20.87$7.97$11.18$8.79
Diluted shares218.80M213.00M205.30M187.40M161.30M149.60M146.00M145.60M145.90M147.10M
Gross margin87.1%86.7%86.5%86.4%86.6%80.8%77.6%74.2%76.1%75.7%
Operating margin45.0%43.6%43.8%49.0%33.8%25.9%————
Net margin32.3%20.7%32.9%41.0%29.8%14.2%29.9%11.8%16.9%13.1%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$2.33B$1.57B$1.22B$2.91B$1.33B$2.26B$3.42B$1.05B$2.38B$3.01B
Short-term investments—$2.12B$2.31B$1.56B$1.28B$1.54B$1.47B$0$0$807.20M
Receivables$1.44B$1.79B$1.96B$1.88B$1.91B$1.55B$1.71B$1.66B$1.40B$1.34B
Inventory$1.00B$902.70M$929.90M$804.20M$1.07B$1.35B$1.34B$2.53B$2.46B$2.17B
Total current assets$8.73B$7.87B$7.64B$8.38B$6.89B$7.86B$9.79B$6.86B$7.46B$8.97B
Goodwill$3.67B$4.63B$5.71B$5.76B$5.76B$5.76B$5.75B$6.22B$6.48B$6.49B
Total assets$22.88B$23.65B$25.29B$27.23B$24.62B$23.88B$24.55B$26.84B$28.05B$29.44B
Total current liabilities$3.42B$3.37B$3.30B$4.86B$3.74B$4.30B$3.27B$3.43B$5.53B$3.35B
Short-term debt$4.70M$3.20M$0$1.50B$0$999.10M$0$150.00M$1.75B$0
Long-term debt$6.51B$5.93B$5.94B$4.46B$7.43B$6.27B$6.28B$6.79B$4.55B$6.29B
Total debt$6.52B$5.94B$5.94B$5.95B$7.43B$7.27B$6.28B$6.94B$6.30B$6.29B
Total liabilities$10.75B$11.05B$12.26B$13.90B$13.93B$12.92B$11.17B$12.05B$11.33B$11.18B
Shareholders' equity$12.14B$12.61B$13.04B$13.34B$10.70B$10.90B$13.40B$14.80B$16.72B$18.26B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$4.59B$4.55B$6.19B$7.08B$4.23B$3.64B$1.38B$1.55B$2.88B$2.20B
Capital expenditures$616.10M$867.40M$770.60M$514.50M$424.80M$258.10M$240.30M$277.00M$153.70M$153.80M
Free cash flow$3.97B$3.68B$5.42B$6.56B$3.81B$3.38B$1.14B$1.27B$2.72B$2.05B
Investing cash flow-$2.48B-$2.96B-$2.05B$470.50M-$608.60M-$563.70M$1.58B-$4.10B-$799.20M-$1.37B
Financing cash flow-$1.05B-$2.38B-$4.47B-$5.86B-$5.27B-$2.09B-$1.75B$149.30M-$683.50M-$301.90M
Share buybacks$1.00B$1.37B$4.35B$5.87B$6.68B$1.80B$750.00M$0$0—
Stock-based compensation$154.80M$128.00M$157.50M$182.30M$198.30M$238.60M$254.10M$264.20M$291.20M$290.80M
Depreciation & amortization$682.70M$1.08B$650.50M$464.70M$457.20M$487.70M$518.40M$494.80M$673.20M$779.90M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.