Biogen Inc. (BIIB) 10-K Red Flags
Risk signals extracted deterministically from Biogen Inc.’s SEC 10-K/10-Q XBRL filings — no LLM, every finding cites the underlying data.
Detected red flags (14)
- Going concern doubt: The term "going concern" appears in 4 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.33x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Gross margin expansion: Gross margin expanded +3.0%pp (from 26.4% to 29.4%), indicating improved pricing power, cost efficiency, or favorable product mix.
- Endogenous analysis: 2 positive signal(s) versus 2 risk signal(s). The filing exhibits more constructive indicators than concerns, though individual risk factors should still be monitored.
- 3 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Going concern doubt, Material weakness in internal controls.
- Revenue declined **+3.3%** YoY to $9.84B.
- 5-year revenue CAGR **-7.3%**; 10y CAGR +0.2%.
- Market cap $31.91B at $216.12 per share.
- Trailing P/E 27.12, P/S 3.24, P/B 2.16.
- Going concern doubt: The term "going concern" appears in 4 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
Filings & ownership
- Latest annual report (10-K) filed Feb 6, 2026.
- Latest quarterly report (10-Q) filed Apr 29, 2026.
- 17 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~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.
Full BIIB analyst report
Valuation (DCF & Graham), technicals, macro exposure, risk scorecard and 13F/13D ownership.
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