Biogen Inc. (BIIB)
Health Care · Biotechnology · US stock · S&P 500 component
$232.65
▼ -2.70 (1.15%)
Fair valueFair
$232 −0.1% to fair value
$116fair band $163–$302$349
Day's range
$232.36 – $236.87
52-week range
$138.00 – $240.99
About Biogen Inc.
Biogen is a biotechnology company that develops and markets therapies for neurological and neurodegenerative conditions. Its marketed medicines include Spinraza for spinal muscular atrophy and Tysabri for multiple sclerosis, and it works with Eisai on Leqembi for Alzheimer's disease. Customers include hospitals, specialty pharmacies and distributors that supply patients and clinicians, and the company also earns income from partner products.
Revenue comes from sales of its medicines and from royalties and collaboration income. Revenue was $9.9 billion over the last twelve months, but growth was -0.9% a year over the last three years. The operating margin is 19.1%, and the business earns a profit of 8% on the capital invested in it. Net debt is 0.7 times EBITDA, and no dividend is paid. On the site's X-Ray Score it receives 47 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $138.00 – $240.99Volume 1,462,600Daily, split-adjusted
Vitals
Market cap$34.5B
52-week range$138.00 – $240.99
Volume (last day)1,462,600
P/E (TTM)25.0
EBIT / EV yield5.2%
Free-cash-flow yield7.0%
Dividend yieldNo dividend
Revenue (TTM)$9.9B
Net income (TTM)$1.4B
Operating margin19.1%
Return on capital7.8%
Debt incl. leases$6.3B
Cash & securities$4.3B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$232model spread $227 – $238
Fair
−0.1% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $233
Undervalued < $163Fair $163 – $302Overvalued > $302
10-year DCF (market-scaled)
$147
Peer multiples
$298
Earnings power floor (not blended)
$129
Fundamentals-adjusted multiple
$252
Growth the price implies
14.6%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Health Care peers. Open a lens to see the numbers behind it.
Valuation
Fair
67/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield5.2%
Free-cash-flow yield7.0%
Fair value vs price1.0×
Growth
Weak
24/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-0.9%
EPS growth (3y)-25.0%
Growth consistency60%
Profitability
Weak
39/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital7.8%
Operating margin19.1%
Gross profitability25.4%
Financial health
Fair
55/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA0.7×
Interest cover6.9×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+2.9%
Dec '24
+6.1%
Mar '25
+7.3%
Jun '25
+2.8%
Sep '25
-7.1%
Dec '25
+1.9%
Mar '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.5B, diluted EPS $2.15.
Compare with peers
INCY Incyte Corp81 VRTX Vertex Pharmaceuticals...55 AMGN Amgen Inc51 REGN Regeneron Pharmaceutic...50Other Biotechnology companies by X-Ray Score.
Fundamentals checklist
● 6 Good · ● 5 Average · ● 5 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldGood
Risk models
Altman Z''Good
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Good
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Current ratioGood
Net debt / EBITDAGood
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 51/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $11.0B | $10.2B | $9.8B | $9.7B | $9.9B |
| Operating income | $2.8B | $3.8B | $1.5B | $2.2B | $1.8B |
| Net income | $1.6B | $3.0B | $1.2B | $1.6B | $1.3B |
| Operating cash flow | $3.6B | $1.4B | $1.5B | $2.9B | $2.2B |
| Operating margin | 25.9% | 37.7% | 15.7% | 22.3% | 18.4% |
| Free cash flow | $3.4B | $1.1B | $1.3B | $2.7B | $2.1B |
| Diluted EPS | $10.40 | $20.87 | $7.97 | $11.18 | $8.79 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 3 neutral · 1 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 227.2 | Bullish |
| EMA 10 | 228.9 | Bullish |
| SMA 20 | 226.1 | Bullish |
| EMA 20 | 226.0 | Bullish |
| SMA 50 | 219.7 | Bullish |
| EMA 50 | 219.9 | Bullish |
| SMA 100 | 210.7 | Bullish |
| EMA 100 | 211.8 | Bullish |
| SMA 200 | 197.8 | Bullish |
| EMA 200 | 199.0 | Bullish |
Oscillators (daily)
| RSI (14) | 61.46 | Neutral |
| MACD (12, 26) | 3.54 | Bullish |
| Momentum (12) | 3.00 | Bullish |
| Stochastic %K (14) | 66.98 | Neutral |
| Williams %R (14) | -33.02 | Neutral |
| CCI (20) | 139.0 | Bearish |
Pivot points (classic, last session)
S3 226.5 | S2 229.5 | S1 231.1 | Pivot 234.0 | R1 235.6 | R2 238.5 | R3 240.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
BIIB SEC filings
29 Jul 2026
10-QSEC EDGAR
Quarterly report
29 Jul 2026
8-KSEC EDGAR
Results of operations
1 Jul 2026
8-KSEC EDGAR
Results of operations
10 Jun 2026
8-KSEC EDGAR
Shareholder vote results
14 May 2026
8-KSEC EDGAR
Entered a material agreement; Completed an acquisition or disposal
29 Apr 2026
10-QSEC EDGAR
Quarterly report
29 Apr 2026
8-KSEC EDGAR
Results of operations
28 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.