BIIB (Biogen Inc.) Stock Financials & Earnings | Market Cap Arena

BIIB (Biogen Inc.) Stock Financials & Earnings | Market Cap Arena

BIIBBiogen Inc.

Mkt Cap$28B

Healthcare·Drug Manufacturers - General·🇺🇸 United States·NASDAQ

Revenue (TTM)$9.8B

Net Income (TTM)$1.3B

EPS (TTM)$8.83

Free Cash Flow (TTM)$2.1B

Gross Margin70.5%

Op. Margin19.1%

Net Margin13.2%

FCF Margin21.8%

P/S Ratio (TTM)2.8x

P/E Ratio (TTM)21.6x

YoY Rev Growth+1.4%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$2.5B	$1.8B	$574M
Q2 23	$2.5B	$1.9B	$690M
Q3 23	$2.5B	$1.9B	$321M
Q4 23	$2.4B	$1.8B	$512M
Q1 24	$2.3B	$1.8B	$690M
Q2 24	$2.5B	$1.5B	$367M
Q3 24	$2.5B	$1.8B	$577M
Q4 24	$2.5B	$1.9B	$509M
Q1 25	$2.4B	$1.9B	$733M
Q2 25	$2.6B	$1.7B	$588M
Q3 25	$2.5B	$1.6B	$614M
Q4 25	$2.3B	$1.8B	-$57M

Valuation

Quarter	P/S	P/E
Q1 23	2.8x	8.9x
Q2 23	2.8x	10.5x
Q3 23	2.8x	19.1x
Q4 23	2.8x	24.0x
Q1 24	2.9x	23.9x
Q2 24	2.9x	24.1x
Q3 24	2.9x	17.3x
Q4 24	2.9x	17.1x
Q1 25	2.8x	18.9x
Q2 25	2.8x	18.2x
Q3 25	2.8x	17.3x
Q4 25	2.8x	21.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$455M	$389M
Q2 23	$487M	$400M
Q3 23	$592M	$505M
Q4 23	$13M	-$53M
Q1 24	$553M	$432M
Q2 24	$626M	$583M
Q3 24	$936M	$806M
Q4 24	$761M	$695M
Q1 25	$259M	$212M
Q2 25	$161M	$144M
Q3 25	$1.3B	$1.2B
Q4 25	$512M	$556M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$67M
Q2 23	$87M
Q3 23	$88M
Q4 23	$65M
Q1 24	$121M
Q2 24	$43M
Q3 24	$130M
Q4 24	$66M
Q1 25	$47M
Q2 25	$17M
Q3 25	$46M
Q4 25	$44M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-2.7%	-5.9%
Q2 23	-5.1%	+6.9%
Q3 23	+0.9%	+34.8%
Q4 23	-6.2%	-5.6%
Q1 24	-7.0%	-15.3%
Q2 24	+0.4%	+18.8%
Q3 24	-2.5%	-14.5%
Q4 24	+2.9%	+3.8%
Q1 25	+6.1%	+6.1%
Q2 25	+7.3%	-2.0%
Q3 25	-0.4%	-2.5%
Q4 25	-7.1%	+20.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$76M	3.1%
Q2 23	$74M	3.0%
Q3 23	$62M	2.5%
Q4 23	$55M	2.3%
Q1 24	$73M	3.2%
Q2 24	$71M	2.9%
Q3 24	$73M	2.9%
Q4 24	$75M	3.1%
Q1 25	$81M	3.3%
Q2 25	$75M	2.8%
Q3 25	$75M	3.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 23	$621M	—	—	$605M
Q2 23	$637M	—	—	$537M
Q3 23	$797M	—	—	$753M
Q4 23	$648M	$537M	$71M	—
Q1 24	$524M	—	—	$578M
Q2 24	$592M	—	—	$550M
Q3 24	$673M	—	—	$577M
Q4 24	$684M	$612M	$67M	—
Q1 25	$546M	—	—	$575M
Q2 25	$530M	—	—	$581M
Q3 25	$370M	—	—	$595M
Q4 25	$509M	$683M	—	—

Revenue Segments

Quarter	Fumarate	Interferon	MS Product Revenues	Spinraza	TYSABRI product
Q3 24	$391M	$238M	$1.1B	$381M	$406M
Q4 24	$404M	$236M	$1.1B	$421M	$415M
Q1 25	$345M	$226M	$953M	$424M	$382M
Q2 25	$406M	$247M	$1.1B	$393M	$455M
Q3 25	$383M	$247M	$1.1B	$374M	$432M
Q4 25	$293M	$226M	$917M	$356M	$398M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$2.9B	$2.1B	$5.0B
Q2 23	$2.6B	$3.5B	$6.1B
Q3 23	$2.3B	$0	$2.3B
Q4 23	$1.0B	$0	$1.0B
Q1 24	$1.1B	$0	$1.1B
Q2 24	$1.9B	$0	$1.9B
Q3 24	$1.7B	$0	$1.7B
Q4 24	$2.4B	$0	$2.4B
Q1 25	$2.6B	$0	$2.6B
Q2 25	$2.8B	$0	$2.8B
Q3 25	$3.9B	$98M	$4.0B
Q4 25	$3.0B	$807M	$3.8B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	145M	+0.0%
Q2 23	146M	+0.2%
Q3 23	145M	-0.5%
Q4 23	146M	+0.6%
Q1 24	146M	+0.1%
Q2 24	146M	+0.0%
Q3 24	146M	+0.0%
Q4 24	146M	+0.1%
Q1 25	146M	-0.1%
Q2 25	146M	+0.0%
Q3 25	147M	+0.8%
Q4 25	147M	-0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$1M	8K
FY 15	$1M	7K
FY 16	$2M	7K
FY 17	$2M	7K
FY 18	$2M	8K
FY 19	$2M	7K
FY 20	$1M	9K
FY 21	$1M	10K
FY 22	$1M	9K
FY 23	$1M	8K
FY 24	$1M	8K
FY 25	$49K	200K