Biogen

Health Care Biotechnology Cambridge, Massachusetts Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$9.9B
                    3y CAGR -0.9%
                    
                    P12
                    
                    n/a
                    
                    Net income
                    FY2025
                
$1.3B
                    Net margin +13.1%
                    
                    P57
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$29.4B
                    ROA +4.4%
                    
                    P40
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$2.2B
                    FCF margin +20.7%
                    
                    P69
                    
                    n/a

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 1 year

Total assets $29.4B

Total liabilities $11.2B

Shareholders equity $18.3B

Account	2025	Trend
Assets
Cash and Cash Equivalents	10.2%
Short Term Investments	2.7%
Accounts Receivable	0.0%
Inventory	7.4%
Prepaid Expenses	3.8%
Other Current Assets	3.8%
Total Current Assets	30.5%
Property,Plant and Equipment	10.4%
Operating Lease Assets	0.9%
Goodwill	22.0%
Intangible Assets	31.2%
Deferred Tax Assets	1.0%
Other Noncurrent Assets	2.5%
Total Assets	100.0%
Liabilities
Accounts Payable	1.5%
Accrued Liabilities	0.0%
Current Portion of Long Term Debt	21.4%
Other Current Liabilities	9.5%
Total Current Liabilities	11.4%
Long Term Debt	21.4%
Operating Lease Liabilities Noncurrent	1.0%
Deferred Tax Liabilities	1.7%
Other Noncurrent Liabilities	2.5%
Total Liabilities	38.0%
Equity
Preferred Stock	0.0%
Common Stock	0.0%
Additional Paid In Capital	2.9%
Retained Earnings	69.8%
Treasury Stock	10.1%
Accumulated Other Comprehensive Income	-0.6%
Total Stockholders Equity	62.0%
Total Liabilitiesand Equity	100.0%

Income Statement

Revenue, expense, and profitability

19 accounts · 1 year

Revenue $9.9B

Operating income Not reported

Net income $1.3B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	33.6%
Expenses Cost of Revenue	8.2%
Expenses Research and Development	6.0%
Expenses Selling,General and Administrative	8.3%
Expenses Depreciation and Amortization	2.6%
Expenses Share Based Compensation	1.0%
Expenses Restructuring and Asset Impairment	0.2%
Expenses Operating Expenses	28.3%
Other Income Expense Interest Income	0.4%
Other Income Expense Interest Expense	0.9%
Other Income Expense Other Income/expense	-0.1%
Other Income Expense Income Before Tax	5.3%
Income Tax Income Tax Expense	0.9%
net Income net Income	4.4%
net Income Comprehensive Income	4.2%
Earnings Per Share Basic Eps	0.0%
Earnings Per Share Diluted Eps	0.0%
Earnings Per Share Weighted Average Shares Basic	0.5%
Earnings Per Share Weighted Average Shares Diluted	0.5%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 1 year

Operating cash flow $2.2B

Investing cash flow $-1.4B

Financing cash flow $-301.9M

Account	2025	Trend
CashFlow
Operating Activities net Income	4.4%
Operating Activities Depreciation and Amortization	2.6%
Operating Activities Stock Based Compensation	1.0%
Operating Activities Deferred Income Taxes	1.2%
Operating Activities Changes In Operating Assets and Liabilities	0.5%
Operating Activities Other Non Cash Items	-0.8%
Operating Activities net Cash From Operating Activities	7.5%
Investing Activities Capital Expenditures	0.5%
Investing Activities Purchases of Investments	4.3%
Investing Activities Other Investing Activities	-0.1%
Investing Activities net Cash From Investing Activities	-4.7%
Financing Activities Proceeds From Debt	5.9%
Financing Activities Repayment of Debt	5.9%
Financing Activities Tax Withholding On Stock Based Compensation	0.0%
Financing Activities Other Financing Activities	0.0%
Financing Activities net Cash From Financing Activities	-1.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%
Cash Reconciliation net Change In Cash	1.8%
Cash Reconciliation Cash At Beginning of Period	10.2%
Cash Reconciliation Cash At End of Period	10.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+75.7%
Operating margin	—
Net margin	+13.1%
FCF margin	+20.7%
Growth
Revenue CAGR (3y)	-0.9%
Returns
ROE	+7.1%
ROA	+4.4%
ROIC	—
Liquidity
Current ratio	2.68x
Quick ratio	0.90x
Leverage
D/E	0.61x
Interest coverage	—
Efficiency
Asset turnover	0.34x
Cash conversion cycle	+264d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Biogen

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Margins, returns, liquidity, leverage, efficiency

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