Biogen Inc. (BIIB)

NASDAQ: BIIB · USD

$244

-8.90 (-3.5%)· Recorded snapshot

StockMarketAgent Research · Analyzed 2026-05-13

Our latest published analysis: BIIB rated Buy

Biogen Inc.'s published Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$253 / share

Potential value

$314 / share

Upside to FV

+26.9%

from $244

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$29.4B
Revenue (ttm)	10.3B
Net income (ttm)	347.5M
EPS (ttm)	$2.33
Shares out	147.8M
P/E (trailing)	104.5x
P/E (forward)	12.0x
Volume	1,868,119
Beta	0.09

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 10.3B
Net income (ttm): 347.5M
EPS (ttm): $2.33
P/E (trailing): 104.5x
P/E (forward): 12.0x
Market cap: $29.4B

Item	P1	P2	P3	P4	Trend
Period	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$10.17B	$9.84B	$9.68B	$9.89B	-0.9%
Gross profit	$7.90B	$7.30B	$7.37B	$7.49B	-1.8%
Operating income	$3.84B	$1.54B	$2.16B	$1.82B	-22.0%
Net income	$3.05B	$1.16B	$1.63B	$1.29B	-24.9%
EPS (diluted)	$20.87	$7.97	$11.18	$8.79	-25.0%
EBITDA	$4.36B	$2.04B	$2.83B	$2.60B	-15.8%
R&D	$2.23B	$2.45B	$1.98B	$1.78B	-7.3%
SG&A	$2.40B	$2.55B	$2.40B	$2.43B	+0.4%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	Sell
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	Sell
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	Strong Buy
ABBV	AbbVie Inc.	505.6B	80.8x	7.9x	17.7%	+3.7%	+29.1%	Sell
ABT	Abbott Laboratories	177.6B	38.2x	3.7x	7.2%	+2.7%	-17.2%	Reduce
ALGN	Align Technology Inc.	10.9B	26.6x	2.6x	17.2%	+3.6%	+11.6%	Reduce

Base and Bull scenarios

Bull20%

Price target

$314.03

+57.5% from spot

Leqembi dominates the Alzheimer's market with seamless logistical rollout, accelerating revenue and EPS growth back to high single digits.

Seamless logistical rollout
Operating margin expansion

Base60%

Price target

$253.08

+26.9% from spot

Leqembi scales moderately, offsetting the decline of the legacy MS franchise, allowing baseline EPS growth.

2.05% long-term growth
13x terminal multiple

Sensitivity: Ke × terminal growth

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
5.6%	$308	$345	$393	$443	$443
6.6%	$253	$278	$308	$345	$393
7.6%	$215	$232	$253	$278	$308
8.6%	$187	$200	$215	$232	$253
9.6%	$165	$175	$187	$200	$215

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E12

P25 n/aP50 n/aP75 n/a

Trailing P/E21.5

P25 n/aP50 n/aP75 n/a

ROE1.9

P25 n/aP50 n/aP75 n/a

ROIC5.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All BIIB indicators

Market & fundamental data

Available fields

273

Groups with data

Currency

USD

Showing 273 of 273 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000875045
Company name	Biogen Inc.
Country	United States
Country code	US
CUSIP number	09062X103
Earnings date	2026-10-28
Earnings time	bmo
Employees	7,500
Employees change	-105
Employees growth	-1.38%
Enterprise value	$42.5B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1978
In index	SP500
Industry	Drug Manufacturers - General
IPO date	1991-09-16
Is primary listing	Yes
Is SPAC	No
ISIN number	US09062X1037
Last 10-K release date	2026-02-06
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split date	2001-01-18
Last stock split type	Forward
Market cap	$36B
Market cap category	Large-Cap
Next earnings date	2027-02-05
Options	Yes
Price	$243.84
Price currency	USD
Sector	Healthcare
SIC code	2836
Stock price date	2026-10-28
Symbol	BIIB
U.S. state	Massachusetts
Website	https://www.biogen.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	20.7x
Average P/E ratio (10Y)	19.56x
Average P/E ratio (3Y)	27.63x
Average P/E ratio (5Y)	23.52x
Earnings yield	0.96%
EV/Earnings	124.16x
EV/EBIT	22.63x
EV/EBITDA	15.47x
EV/FCF	20.84x
EV/Sales	4.19x
FCF / EV yield	4.8%
FCF yield	5.65%
Forward EV/Sales	4.07x
Forward P/E	16.2x
Forward P/S	3.46x
Graham number	81.99297
Graham upside	-66.94%
Industry forward P/E	18.47x
Industry P/E	36.2x
Lynch fair value	$11.67
Lynch upside	-95.29%
P/(FCF - SBC) ratio	20.73x
P/(OCF - SBC) ratio	18.85x
P/B ratio	1.97x
P/E ratio	104.46x
P/FCF ratio	17.7x
P/OCF ratio	16.31x
P/S ratio	3.56x
PEG ratio	1.27x
Price/EBITDA ratio	13.14x
Sector forward P/E	23.67x
Sector P/E	50.4x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	18.51%
EBITDA margin	27.08%
Effective tax rate	21.93%
FCF margin	20.11%
Gross margin	74.46%
Operating margin	18.51%
Pretax margin	4.32%
Profit margin	3.37%
Profit per employee	$46,333
Profitable quarters	2
Profitable years	22
Revenue per employee	$1.4M
ROA	3.89%
ROA (5Y)	6.68%
ROCE	6.77%
ROE	1.87%
ROE (5Y)	13.26%
ROIC	5.8%
ROIC (5Y)	13.87%
SBC / revenue	2.94%
Tax / revenue	0.95%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-78.73%
EPS growth 10Y	-18.33%
EPS growth 3Y	-38.53%
EPS growth 5Y	-25.57%
EPS growth years	0
FCF growth	-10.14%
FCF growth (Q)	-51.04%
FCF growth (QoQ)	47.16%
FCF growth 3Y	24.95%
FCF growth 5Y	-0.67%
Gross profit growth	-2.8%
Gross profit growth (Q)	1.46%
Gross profit growth 3Y	0.71%
Gross profit growth 5Y	-3.49%
Net income growth	-78.4%
Net income growth 3Y	-38.05%
Net income growth 5Y	-25.81%
Net income growth years	0
OCF growth	-8.42%
OCF growth (Q)	-49.64%
OCF growth (QoQ)	42.75%
OCF growth 10Y	-5.71%
OCF growth 3Y	18.23%
OCF growth 5Y	-1.59%
Operating income growth	-34.8%
Operating income growth (Q)	-38.47%
Operating income growth 3Y	-2.65%
Operating income growth 5Y	-5.69%
Revenue growth	2.3%
Revenue growth (Q)	10.63%
Revenue growth (QoQ)	2.49%
Revenue growth 10Y	-1.03%
Revenue growth 3Y	1%
Revenue growth 5Y	-1.49%
Revenue growth quarters	2
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-176.4M
Depreciation and amortization	$881.8M
EBIT	$1.9B
EBITDA	$2.8B
EPS	$2.33
FCF per share	$14.01
Financing cash flow	$721.4M
Free cash flow	$2.1B
Free cash flow minus SBC	$1.8B
Gross profit	$7.7B
Income taxes	$97.6M
Investing cash flow	$-5.5B
Net borrowing	$623.3M
Net cash flow	$-2.6B
Net income	$347.5M
Operating cash flow minus SBC	$1.9B
Operating income	$1.9B
Revenue	$10.3B
Stock-based compensation	$302.5M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$128.01
Debt / EBITDA	2.6
Debt / equity	0.41
Debt / FCF	3.77
Goodwill	$7B
Interest coverage	28.24
Long-term assets	$24.5B
Long-term liabilities	$9.2B
Net cash (debt)	$-6.5B
Net cash / market cap	-17.73%
Net debt / EBITDA	2.33
Net debt / equity	0.34
Net debt / FCF	3.14
Piotroski F-Score	4
Property, plant and equipment	$3.1B
Shareholders' equity	$18.9B
Tangible book value	$-1.5B
Tangible book value per share	$-9.81
Total assets	$32.1B
Total cash	$1.3B
Total debt	$7.8B
Total liabilities	$13.1B
WACC	4.04%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.34
Current assets	$7.6B
Current liabilities	$3.9B
Current ratio	1.95
Inventory turnover	1.19
Net working capital	$2.8B
Quick ratio	0.95
Working capital	$3.7B
Working capital turnover	2.21

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-1.45%
Dividend yield	0%
Shareholder yield	-1.45%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-15.89%
10Y return CAGR	-0.9%
10Y total return	-8.68%
150-day SMA	$205.78
15Y price change	107.81%
15Y return CAGR	5.57%
15Y total return	125.61%
1D price change	-3.52%
1M price change	7.5%
1M total return	7.5%
1W price change	0.65%
1W total return	0.65%
1Y price change	62.65%
1Y return CAGR	62.7%
1Y total return	62.65%
20-day SMA	$234.32
200-day SMA	$200.40
20Y price change	455.82%
20Y return CAGR	9.4%
20Y total return	503.43%
3M price change	22.25%
3M total return	22.25%
3Y price change	4.33%
3Y return CAGR	1.42%
3Y total return	4.33%
50-day SMA	$225.74
50-day SMA vs 200-day SMA	50over200
52-week high	$258.78
52-week high date	2026-10-28
52-week low	$138.00
52-week low date	2025-10-30
5Y price change	-5.88%
5Y return CAGR	-1.2%
5Y total return	-5.88%
6M price change	35.42%
6M total return	35.42%
All-time high	$480.18
All-time high date	2015-03-20
All-time low	$0.35
All-time low date	1994-12-14
Average true range (ATR)	$7.25
Average volume	1.3M
Beta (1Y)	0.01
Beta (2Y)	0.44
Beta (5Y)	0.09
Change from 52-week high	-5.77%
Change from 52-week low	76.7%
Change from all-time high	-49.05%
Change from all-time low	68,976.79%
Change from open	-1.43%
Day's gap	-2.12%
Dollar volume	$455.5M
High price	$258.30
Low price	$243.60
Monthly RSI	66.83
Open price	$247.37
Position in 52-week range	1.63%
Premarket change	-3.63%
Premarket close	$252.73
Premarket price	$243.56
Premarket volume	2.6K
Previous close	$252.73
Price vs 150-day SMA	18.9%
Price vs 20-day SMA	4.42%
Price vs 200-day SMA	22.09%
Price vs 50-day SMA	8.38%
Relative volume	1.45
RSI	60.56
Sharpe ratio	1.48
Sharpe ratio (3Y)	-0.01
Sharpe ratio (5Y)	-0
Sortino ratio	2.52
Sortino ratio (3Y)	0.17
Sortino ratio (5Y)	0.19
Volume	1.9M
Weekly RSI	69.18
YTD price change	39.03%
YTD total return	39.03%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	147.2M
Float percentage	99.64%
Shares change (QoQ)	-0.61%
Shares change (YoY)	1.45%
Shares held by insiders	0.21%
Shares held by institutions	97.68%
Shares outstanding	147.8M
Short % of float	3.74%
Short % of shares	3.72%
Short ratio	5.9 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	154

Deeper analysis on BIIB

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this BIIB report

What is the latest published BIIB stock rating?

Biogen Inc. is shown with Buy in the latest published report, analyzed 2026-05-13. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full BIIB analysis?

The full latest published report, analyzed 2026-05-13, lives at /stocks/BIIB/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for BIIB?

The latest published report analyzed 2026-05-13 gives BIIB a fair value of USD 253 and a potential value of USD 314. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the BIIB page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-05-13). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

BuyBIIB · Fair value $253+26.9%

Read full analysis →

Biogen Inc. (BIIB)

Our latest published analysis: BIIB rated Buy

Price

Financial snapshot

Fair-value bridge

Latest news · BIIB

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All BIIB indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on BIIB

Frequently asked questions

Rating history

Category	Score	Reading
Valuation	7.5
Management	6.9
Balance Sheet	7.5
Profitability	5.5
Revenue Growth	4.5
Risk Assessment	8.0
Competitive Moat	6.5
Earnings Quality	9.0
Capital Efficiency	3.5