BIIB
Biogen Inc.Stock · HealthcareS&P 500 Equal Weight 0.2% · Nasdaq Composite 0.06% · S&P 500 0.05% · Russell 1000 0.05% · US Stock Market 0.04% · Russell 3000 0.04% · MSCI World 0.03% · MSCI ACWI 0.03%$217.10+0.78%
as of market close, Sep 11, 2026
☾ AH — —
BIIB financial statements
The full income statement, balance sheet, and cash-flow statement for Biogen Inc. (BIIB), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-03 145.6M2024-06 145.7M2024-09 145.7M2024-12 146.4M2025-03 146.5M2025-06 146.6M2025-09 146.7M2025-12 146.8M2026-03 147.6M+1.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 9.89B+2.2% | 9.68B-1.6% | 9.84B-3.3% | 10.2B-7.4% | 11.0B-18.3% | |
| Cost of revenue | 2.40B+4.1% | 2.31B-8.8% | 2.53B+11.2% | 2.28B+8.0% | 2.11B+16.9% | |
| Research & development | 1.78B-10.2% | 1.98B-19.0% | 2.45B+9.6% | 2.23B-10.8% | 2.50B-37.3% | |
| Selling, general & administrative | 2.43B+1.2% | 2.40B-5.7% | 2.55B+6.1% | 2.40B-10.1% | 2.67B+6.8% | |
| Restructuring | 48.6M+60.9% | 30.2M-86.2% | 219M+66.9% | 131M | 0.00 | |
| Amortization of intangibles | 507M+31.2% | 387M+60.6% | 241M-2.3% | 246M-2.3% | 252M-1.2% | |
| Operating income | — | — | — | — | 2.84B-37.6% | |
| Interest expense | 268M+6.9% | 250M+1.4% | 247M+0.1% | 247M-2.8% | 254M+14.0% | |
| Interest & investment income | 125M+84.9% | 67.6M-75.6% | 277M+209.6% | 89.3M+711.8% | 11.0M-73.8% | |
| Other non-operating income | -24.7M-848.5% | 3.30M+925.0% | -400K-104.0% | 10.1M+80.4% | 5.60M+293.1% | |
| Equity-method income | — | 0.00 | 0.00-100.0% | 2.60M-92.6% | 34.9M+957.6% | |
| Gain (loss) on equity securities | 19.7M-80.4% | 100M-63.5% | 275M+4.0% | 265M-67.8% | 821M+218.3% | |
| Pre-tax income | 1.56B-18.3% | 1.91B+47.0% | 1.30B-63.9% | 3.59B+105.8% | 1.75B-65.4% | |
| Income tax | 264M-3.7% | 274M+102.4% | 135M-78.6% | 633M+1105.3% | 52.5M-94.7% | |
| 1.29B-20.8% | 1.63B+40.6% | 1.16B-61.9% | 3.05B+95.8% | 1.56B-61.1% | ||
| Net income to non-controlling interest | 0.00 | 0.00-100.0% | 400K+100.5% | -85.3M-149.7% | 172M+186.3% | |
| $8.79-21.4% | $11.18+40.3% | $7.97-61.8% | $20.87+100.7% | $10.40-58.1% | ||
| EPS (basic) | $8.83-21.2% | $11.21+39.8% | $8.02-61.7% | $20.96+100.8% | $10.44-58.0% | |
| Weighted-avg shares (basic) | 147M+0.6% | 146M+0.6% | 145M-0.4% | 145M-2.5% | 149M-7.3% | |
| Weighted-avg shares (diluted) | 147M+0.8% | 146M+0.2% | 146M-0.3% | 146M-2.4% | 150M-7.3% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 8.97B+20.3% | 7.46B+8.7% | 6.86B-29.9% | 9.79B+24.6% | 7.86B+14.1% | ||
| Cash & equivalents | 3.01B+26.7% | 2.38B+126.2% | 1.05B-69.3% | 3.42B+51.2% | 2.26B+69.9% | |
| Accounts receivable | 1.34B-4.4% | 1.40B-15.6% | 1.66B-2.4% | 1.71B+10.0% | 1.55B-19.0% | |
| Inventory | 2.17B-11.9% | 2.46B-2.6% | 2.53B+88.0% | 1.34B-0.5% | 1.35B+26.5% | |
| Other current assets | 1.12B+49.3% | 753M-36.3% | 1.18B-16.6% | 1.42B+91.4% | 741M-15.9% | |
| 29.4B+5.0% | 28.0B+4.5% | 26.8B+9.3% | 24.6B+2.8% | 23.9B-3.0% | ||
| Property, plant & equipment | 3.06B-4.0% | 3.18B-3.9% | 3.31B+0.3% | 3.30B-3.4% | 3.42B+0.1% | |
| Operating lease right-of-use | 265M-25.5% | 356M-15.1% | 420M+4.0% | 404M+7.6% | 375M-13.4% | |
| Goodwill | 6.49B+0.2% | 6.48B+4.2% | 6.22B+8.2% | 5.75B-0.2% | 5.76B-0.0% | |
| Intangible assets | 9.18B-5.3% | 9.69B+15.9% | 8.36B+352.0% | 1.85B-16.7% | 2.22B-28.0% | |
| Deferred tax assets | 293M-9.8% | 324M-65.1% | 929M-24.3% | 1.23B-13.3% | 1.42B+3.3% | |
| Other non-current assets | 751M+33.9% | 561M-24.8% | 745M-51.3% | 1.53B-21.2% | 1.94B-33.1% | |
| 3.35B-39.4% | 5.53B+61.0% | 3.43B+4.9% | 3.27B-23.9% | 4.30B+14.9% | ||
| Accounts payable | 432M+1.8% | 424M+5.2% | 403M-17.9% | 492M-16.6% | 589M+29.5% | |
| Short-term & current debt | 0.00-100.0% | 1.75B+1065.7% | 150M | 0.00-100.0% | 999M | |
| Current lease liability | 80.4M-6.9% | 86.4M-4.3% | 90.3M-7.1% | 97.2M+9.1% | 89.1M | |
| Other current liabilities | 2.80B-0.2% | 2.81B+7.0% | 2.62B+4.1% | 2.52B-0.5% | 2.54B-19.4% | |
| 11.2B-1.3% | 11.3B-5.9% | 12.0B+7.9% | 11.2B-13.6% | 12.9B-7.3% | ||
| Long-term debt | 6.29B+38.3% | 4.55B-33.0% | 6.79B+8.1% | 6.28B+0.1% | 6.27B-15.5% | |
| Non-current lease liability | 290M-13.2% | 335M-16.4% | 400M+20.1% | 333M+0.8% | 330M-17.8% | |
| Operating lease liability (total) | 371M-11.9% | 421M-14.2% | 490M+14.0% | 430M+2.6% | 420M-13.5% | |
| Deferred tax liabilities | 508M+166.5% | 191M-70.3% | 642M+91.8% | 335M-51.8% | 695M-32.8% | |
| Other non-current liabilities | 749M+2.2% | 732M-6.2% | 781M-17.3% | 944M-28.5% | 1.32B-0.7% | |
| 18.3B+9.2% | 16.7B+13.0% | 14.8B+10.5% | 13.4B+23.0% | 10.9B+1.8% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 100K+0.0% | 100K+0.0% | 100K+0.0% | 100K+0.0% | 100K+0.0% | |
| Additional paid-in capital | 863M+51.6% | 569M+88.2% | 303M+312.7% | 73.3M+7.5% | 68.2M | |
| Retained earnings | 20.6B+6.7% | 19.3B+9.3% | 17.6B+7.1% | 16.5B+18.4% | 13.9B-0.5% | |
| Treasury stock | 2.98B+0.0% | 2.98B+0.0% | 2.98B+0.0% | 2.98B+0.0% | 2.98B+0.0% | |
| Accumulated other comprehensive income | -182M-33.6% | -136M+11.4% | -154M+6.8% | -165M-54.5% | -107M+64.3% | |
| Non-controlling interest | — | — | 0.00+100.0% | -9.50M-115.0% | 63.5M+547.2% | |
| Total equity incl. non-controlling | 18.3B+9.2% | 16.7B+13.0% | 14.8B+10.5% | 13.4B+22.2% | 11.0B+2.6% | |
| Total liabilities & equity | 29.4B+5.0% | 28.0B+4.5% | 26.8B+9.3% | 24.6B+2.8% | 23.9B-3.0% | |
| Common shares issued | 171M+0.6% | 170M+0.5% | 169M+0.5% | 168M-1.7% | 171M-3.1% | |
| Common shares outstanding | 147M+0.7% | 146M+0.6% | 145M+0.6% | 144M-2.0% | 147M-3.5% | |
| Shares outstanding (cover) | 147M+0.3% | 146M+0.7% | 145M+0.6% | 144M-1.7% | 147M-3.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.20B-23.3% | 2.88B+85.9% | 1.55B+11.8% | 1.38B-62.0% | 3.64B-13.9% | ||
| Depreciation & amortization | 780M+15.8% | 673M+36.1% | 495M-4.6% | 518M+6.3% | 488M+6.7% | |
| Intangible amortization | 507M+31.2% | 387M+60.6% | 241M-2.3% | 246M-2.3% | 252M-1.2% | |
| Share-based compensation | 291M-0.1% | 291M+10.2% | 264M+4.0% | 254M+6.5% | 239M+20.3% | |
| Deferred income taxes | 362M+328.7% | -158M+48.3% | -306M-81.4% | -169M+60.5% | -427M-386.4% | |
| Change in receivables | -103M+53.8% | -222M-262.6% | -61.3M-130.1% | 203M+162.6% | -325M-11500.0% | |
| Change in inventory | 64.7M-76.4% | 274M+109.2% | 131M-59.1% | 320M-30.8% | 462M+46.2% | |
| -1.37B-71.6% | -799M+80.5% | -4.10B-360.1% | 1.58B+379.7% | -564M+7.4% | ||
| Capital expenditure | 154M+0.1% | 154M-44.5% | 277M+15.3% | 240M-6.9% | 258M-39.2% | |
| Free cash flow | 2.05B-24.7% | 2.72B+114.3% | 1.27B+11.0% | 1.14B-66.2% | 3.38B-11.1% | |
| Acquisitions | 0.00-100.0% | 1.07B-84.5% | 6.93B | 0.00 | 0.00 | |
| Proceeds from sale of PP&E | 0.00-100.0% | 88.6M | 0.00 | 0.00-100.0% | 28.1M | |
| Other investing activities | -42.9M-1012.8% | 4.70M-58.4% | 11.3M+146.3% | -24.4M-89.1% | -12.9M-148.0% | |
| -302M+55.8% | -684M-557.8% | 149M+108.5% | -1.75B+16.2% | -2.09B+60.4% | ||
| Long-term debt issued | 1.73B | 0.00-100.0% | 997M | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 1.75B+169.2% | 650M-19.7% | 810M | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00-100.0% | 750M-58.3% | 1.80B-73.1% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | 5.00M+327.3% | -2.20M+63.3% | -6.00M-7.1% | -5.60M+73.5% | -21.1M-244.5% | |
| FX effect on cash | 102M+250.5% | -67.7M-292.9% | 35.1M+163.0% | -55.7M+6.9% | -59.8M-186.7% | |
| Interest paid | 264M+7.6% | 245M-2.7% | 252M-3.9% | 263M-6.5% | 281M+3.0% | |
| Income taxes paid | 864M+143.3% | 355M-52.1% | 741M-20.6% | 933M+276.3% | 248M-72.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 25.8B+15.4% | 22.4B-40.3% | 37.5B-6.0% | 39.9B+13.1% | 35.3B-5.5% | |
| P/E | 20.0×+45.7% | 13.7×-46.5% | 25.7×-6.8% | 27.5×+21.4% | 22.7×+143.0% | |
| P/S | 2.6×+12.9% | 2.3×-38.3% | 3.8×+1.8% | 3.7×+14.8% | 3.2×+15.7% | |
| P/B | 1.4×+5.6% | 1.3×-48.3% | 2.6×-17.1% | 3.1×-3.5% | 3.2×-7.2% | |
| P/FCF | 12.6×+53.1% | 8.2×-76.7% | 35.3×+94.2% | 18.2×+74.5% | 10.4×+6.4% | |
| Earnings yield | 5.0%-31.4% | 7.3%+87.0% | 3.9%+7.2% | 3.6%-17.6% | 4.4%-58.9% | |
| FCF yield | 7.9%-34.7% | 12.2%+329.5% | 2.8%-48.5% | 5.5%-42.7% | 9.6%-6.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: BIIB’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BIIB filings on SEC EDGAR → Not investment advice.