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Biogen Inc.

BIIBHealthcare

Generated Aug 19, 2026, 11:16 PM UTC

analytical score 7

BIIB (Biogen Inc.) analytical snapshot. Revenue grew +2.2% YoY to $9.89B. 5-year revenue CAGR -2.1%; 10y CAGR -1.6%. Net margin at 13.07% (contracting ▼). Market cap $32.71B at $221.56 per share. Trailing P/E 25.21, P/S 3.31, P/B 2.21. EV/Operating income ≈ 12.70 (EV $36.09B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score 7 (data confidence 84%). Descriptive analytics from public filings — not investment advice.

Market cap
$32.71B
147.64M shares
Price
$221.56
NMS
P/E (ttm)
25.21
Revenue (FY)
$9.89B
YoY +2.2%
Net margin
13.07%
▼ 16.88pp
Free cash flow
$2.05B
20.73% margin
Risk level
Moderate

Free SEC analysis

— computed from SEC filings, free to read
Free previewRegulatory Analyst

Filings & Ownership

Regulatory Analyst
score 0Stable
80% conf

Latest annual report (10-K) filed Feb 6, 2026. Latest quarterly report (10-Q) filed Jul 29, 2026. 18 recent 8-K material-event filings in the index.

  • Latest annual report (10-K) filed Feb 6, 2026.
  • Latest quarterly report (10-Q) filed Jul 29, 2026.
  • 18 recent 8-K material-event filings in the index.
  • Recent insider Form 4s: 0 buy vs 2 sell transactions — net selling $239.7K.
  • ~10,000+ recent 13F-HR filings reference Biogen Inc.; broad institutional reporting.
  • Recent filers include Woodford Investment Management Ltd, Woodford Investment Management Ltd, Woodford Investment Management Ltd.
  • 3 recent 13D activist/beneficial-ownership filings — potential catalyst.
  • 17 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 6, 2026
Annual report
Latest 10-Q
Jul 29, 2026
8-K (recent)
18
Insider net
-$239.7K
0B/2S
13F filers
10k+
Activist 13D
3
Recent 13F institutional filers (SEC EDGAR full-text)
FilerFormFiled
Woodford Investment Management Ltd13F-HRJun 6, 2018
Woodford Investment Management Ltd13F-HRNov 14, 2018
Woodford Investment Management Ltd13F-HRAug 22, 2019
Woodford Investment Management Ltd13F-HRAug 9, 2018
Woodford Investment Management Ltd13F-HRAug 9, 2018
Recent insider Form 4 activity
InsiderDateNetBuys/Sells
Minor LloydAug 5, 2026-$239.7K0/2
Recent 8-K material events
DateFormDescription
Jul 29, 20268-K8-K
Jul 1, 20268-K8-K
Jun 10, 20268-KCURRENT REPORT
May 14, 20268-K8-K
Apr 29, 20268-K8-K
Apr 6, 20268-K8-K
Mar 31, 20268-K8-K
Mar 11, 20268-KCURRENT REPORT
Insider Form 4 sentiment (transactions)
Buys: 0
Sells: 2
Buys
Sells
Sources:SEC EDGAR — Company FilingsSEC EDGAR — Full-Text Search
Free previewSEC Filing Analyst

SEC Filing Deep-Analysis

SEC Filing Analyst
score -20Deteriorating
72% conf

2 risk signal(s), 1 positive signal(s) detected from XBRL filing diff analysis. Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.

  • Gross margin compression: Gross margin contracted +10.7%pp (from 128.4% to 117.7%). This may reflect input cost inflation, pricing pressure, or product mix shift toward lower-margin segments.
  • Free cash flow deteriorating: FCF declined +24.7% YoY (from $2.72B to $2.05B). With OCF at $2.20B and capex at $153.8M, cash generation capacity is weakening — monitor for dividend/buyback sustainability.
  • Operating cash flow exceeds net income: OCF is 1.71x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
  • Endogenous analysis: Free cash flow declined despite stable or rising capex, indicating the cash burn is operational rather than investment-driven. This is a structural concern — cost reduction or asset sales may be needed to restore FCF.
  • 3 new XBRL disclosure(s) in latest filing — expanding reporting scope.
  • 20 disclosure(s) dropped from prior year — reduced reporting granularity.
Revenue
$9.89B
+2.2% YoY
Gross profit
$11.64B
-6.3% YoY
Operating income
$2.84B
-37.6% YoY
Net income
$1.29B
-20.8% YoY
Operating cash flow
$2.20B
-23.3% YoY
Capex
$153.8M
+0.1% YoY
Total assets
$29.44B
+5.0% YoY
Total liabilities
$11.18B
-1.3% YoY
Filing quality score
71/100
3 new disclosures
SEC XBRL metric changes (latest annual vs prior)
MetricPrior yearLatest yearChange% Change
Revenue$9.68B$9.89B$214.7M+2.2%
Gross profit$12.42B$11.64B$-783.1M-6.3%
Operating income$4.55B$2.84B$-1.71B-37.6%
Net income$1.63B$1.29B$-339.3M-20.8%
Operating cash flow$2.88B$2.20B$-670.9M-23.3%
Capex$153.7M$153.8M$100000+0.1%
Total assets$28.05B$29.44B$1.39B+5.0%
Total liabilities$11.33B$11.18B$-150.6M-1.3%
Long-term debt$6.30B$6.29B$-9.0M-0.1%
Cash & equivalents$2.38B$3.01B$633.5M+26.7%
Stockholders equity$16.72B$18.26B$1.54B+9.2%
Inventory$2.46B$2.17B$-292.4M-11.9%
Accounts receivable$1.40B$1.34B$-62.4M-4.4%
R&D expense$1.22B$1.33B$115.3M+9.5%
SG&A expense$2.40B$2.43B$29.9M+1.2%
Interest expense$250.3M$267.5M$17.2M+6.9%
XBRL disclosure changes (new vs dropped concepts)
TypeConcepts
AddedIncomeTaxExaminationEstimateOfPossibleLoss, ProceedsFromSaleAndMaturityOfMarketableSecurities, RestructuringAndRelatedCostExpectedCostRemaining1
RemovedAccountsReceivableNetCurrent, AccruedRoyaltiesCurrent, AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition, AdvertisingExpense, AmortizationOfIntangibleAssets, BuildingsAndImprovementsGross, BusinessCombinationContingentConsiderationLiabilityCurrent, CommonStockSharesAuthorized, CommonStockSharesIssued, CommonStockSharesOutstanding
Risk language in filing text (EDGAR full-text search)
TermSeverityRecentPriorStatus
Restructuringmedium510Ongoing
Related party transactionslow51Ongoing
Filing signal breakdown
Red flags: 2
Positive: 1
Watch: 0
Red flags
Positive
Watch
Sources:SEC EDGAR — Company Facts (XBRL)SEC EDGAR — Financial Reports
Free previewFundamentals Analyst

Fundamentals

Fundamentals Analyst
score 5Stable
80% conf

Revenue grew +2.2% YoY to $9.89B. 5-year revenue CAGR -2.1%; 10y CAGR -1.6%. Net margin at 13.07% (contracting ▼).

  • Revenue grew +2.2% YoY to $9.89B.
  • 5-year revenue CAGR -2.1%; 10y CAGR -1.6%.
  • Net margin at 13.07% (contracting ▼).
  • Return on equity 7.08%, ROA 4.39%, ROIC 0.00%.
  • Gross margin 0.00%, operating margin 0.00%.
  • Free cash flow margin 20.73% ($2.05B).
  • Net income down ▼ +20.8% YoY.
  • Debt/equity 0.42, current ratio 3.06, net debt $3.37B.
  • Asset turnover 0.34 — capital efficiency.
Revenue (FY)
$9.89B
YoY +2.2%
Net margin
13.07%
▼ 16.88pp
ROE
7.08%
ROA 4.39%
ROIC
0.00%
EPS (diluted)
$8.79
FY2025
Free cash flow
$2.05B
20.73% margin
Debt / equity
0.42
Cash $2.91B
Current ratio
3.06
Equity $14.80B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
FYRevenueRev YoYGross%Op%Net%FCFROE%
2024$9.68B-1.6%0.000.0016.87$2.72B9.76
2025$9.89B+2.2%0.000.0013.07$2.05B7.08
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
Quarter endRevenueYoYQoQNet margin
Jun 30, 2024$2.46B+0.4%—23.68%
Sep 30, 2024$2.47B-2.5%+0.0%15.76%
Mar 31, 2025$2.43B+6.1%-1.4%9.89%
Jun 30, 2025$2.65B+7.3%+8.8%24.00%
Sep 30, 2025$2.53B+2.8%-4.2%18.40%
Mar 31, 2026$2.48B+1.9%-2.2%12.89%
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro

Pro analysis — preview

— score, signals & key metrics shown; full reasoning locked

Valuation

Valuation Analyst
score -5Stable
95% conf

Market cap $32.71B at $221.56 per share. Trailing P/E 25.21, P/S 3.31, P/B 2.21. EV/Operating income ≈ 12.70 (EV $36.09B).

  • Market cap $32.71B at $221.56 per share.
Market cap
$32.71B
147.64M shares
P/E (ttm)
25.21
P/S
3.31
P/B
2.21
EV
$36.09B
Intrinsic (DCF)
$224.81
+1.5% vs price
ProFull breakdown & reasoning locked

Price & Technicals

Technical Analyst
score 65Improving
85% conf

Price $221.56 — uptrend (above 200-DMA); 1-month momentum positive. RSI(14) 66.51.

  • Price $221.56 — uptrend (above 200-DMA); 1-month momentum positive.
Price
$221.56
NMS
RSI(14)
66.51
50-DMA
$204.52
200-DMA
$187.36
Volatility (ann.)
35.23%
52w range
$131.52–$222.15
-0.3% from high
ProFull breakdown & reasoning locked

Macro & Rates

Macro Analyst
score 30Improving
80% conf

Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.71%.

  • Market regime: Risk-on · Supportive.
GDP growth
1.50%
CPI (YoY)
+3.3%
Fed funds
3.63%
10Y yield
4.71%
10Y−2Y
0.46pp
Unemployment
4.10%
ProFull breakdown & reasoning locked

Risk Scorecard

Risk Analyst
score 5Stable
90% conf

Composite risk Moderate. Leverage debt/equity 0.42 (moderate). Liquidity current ratio 3.06 (adequate).

  • Composite risk: Moderate.
Risk level
Moderate
Debt / equity
0.42
Current ratio
3.06
Margin stdev
7.84pp
Cash / assets
9.88%
Liab / assets
36.74%
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Macro exposure

Defensive · Low sensitivity
Neutral

Macro regime: Risk-on · Supportive. Biogen Inc. is a defensive name (low macro sensitivity) — a supportive backdrop, though defensives lag risk-on tapes.

Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
15.84
Fed funds
3.63%
CPI YoY
+3.3%

Analytical read

deterministic preview

Price $221.56 — uptrend (above 200-DMA); 1-month momentum positive..

Risk
Moderate
Macro regime
Risk-on · Supportive
Macro exposure
Neutral
Descriptive analytics from public filings and macro data — not investment advice.
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Peer comparison

Defensive group

How BIIB stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.

CompanyScoreMacro
DexCom Inc. DXCM21Neutral
Bristol-Myers Squibb BMY19Neutral
Eli Lilly & Co. LLY17Neutral
HCA Healthcare HCA9Neutral
Gilead Sciences GILD8Neutral
Johnson & Johnson JNJ8Neutral
Abbott Laboratories ABT7Neutral
Biogen Inc. BIIB● you7Neutral
Intuitive Surgical Inc. ISRG7Neutral
Coca-Cola Co. KO6Neutral
Thermo Fisher Scientific TMO3Neutral
Regeneron Pharmaceuticals REGN3Neutral
Danaher Corp. DHR1Neutral
Merck & Co. MRK0Neutral
Zoetis Inc. ZTS0Neutral
Illumina Inc. ILMN0Neutral
Colgate-Palmolive CL-2Neutral
Vertex Pharmaceuticals VRTX-2Neutral
AbbVie Inc. ABBV-5Neutral
Procter & Gamble PG-7Neutral
CVS Health Corp. CVS-8Neutral
Mondelez International MDLZ-10Neutral
Amgen Inc. AMGN-10Neutral
Cigna Group CI-11Neutral
Kroger Co. KR-12Neutral
Costco Wholesale COST-14Neutral
Walmart Inc. WMT-14Neutral
Pfizer Inc. PFE-15Neutral
PepsiCo Inc. PEP-16Neutral
Sysco Corp. SYY-16Neutral
Hershey Co. HSY-17Neutral
Kimberly-Clark Corp. KMB-18Neutral
Moderna Inc. MRNA-21Neutral
UnitedHealth Group UNH-25Neutral