FN2 Earnings Intelligence
Biogen Inc. financials
Biogen Inc. (BIIB) financial statements and key operating metrics from FN2 Research.
Key Stats
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Market Cap | - | - | - | - | - | - | - |
| - Cash | $2,261.4 | $3,419.3 | $1,049.9 | $2,375 | $3,008.5 | - | - |
| + Debt | $7,273.1 | $6,281 | $7,088.2 | $8,044.4 | $6,286.8 | - | - |
| Enterprise Value | - | - | - | - | - | - | - |
| Revenue | $10,981.7 | $10,173.4 | $9,835.6 | $9,675.9 | $9,890.6 | $10,451.3 | $10,668.9 |
| % Growth | -18.3% | -7.4% | -3.3% | -1.6% | 2.2% | 5.7% | 2.1% |
| Gross Profit | $8,872 | $7,895.1 | $7,302.2 | $7,365.5 | $7,486.4 | - | - |
| % Margin | 80.8% | 77.6% | 74.2% | 76.1% | 75.7% | - | - |
| EBITDA | $3,328.4 | - | - | - | - | - | - |
| % Margin | 30.3% | - | - | - | - | - | - |
| Net Income | $1,556.1 | $3,046.9 | $1,161.1 | $1,632.2 | $1,292.9 | - | - |
| % Margin | 14.2% | 29.9% | 11.8% | 16.9% | 13.1% | - | - |
| Diluted EPS | $10.40 | $20.87 | $7.97 | $11.18 | $8.79 | $12.42 | $16.55 |
| % Growth | -58.1% | 100.7% | -61.8% | 40.3% | -21.4% | 41.3% | 33.3% |
| Operating Cash Flow | $3,639.9 | $1,384.3 | $1,547.2 | $2,875.5 | $2,204.6 | - | - |
| CapEx | $258.1 | $240.3 | $277 | $153.7 | $153.8 | - | - |
| Free Cash Flow | $3,381.8 | $1,144 | $1,270.2 | $2,721.8 | $2,050.8 | - | - |
Historical market capitalization is not persisted, so Market Cap and Enterprise Value remain unavailable rather than mixing today's market value into prior periods.
Income Statement
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 | 12/31/2026 est. | 12/31/2027 est. |
|---|---|---|---|---|---|---|---|
| Revenue | $10,981.7 | $10,173.4 | $9,835.6 | $9,675.9 | $9,890.6 | $10,451.3 | $10,668.9 |
| Gross Profit | $8,872 | $7,895.1 | $7,302.2 | $7,365.5 | $7,486.4 | - | - |
| EBITDA | $3,328.4 | - | - | - | - | - | - |
| Net Income | $1,556.1 | $3,046.9 | $1,161.1 | $1,632.2 | $1,292.9 | - | - |
| Diluted EPS | $10.40 | $20.87 | $7.97 | $11.18 | $8.79 | $12.42 | $16.55 |
Balance Sheet
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $2,261.4 | $3,419.3 | $1,049.9 | $2,375 | $3,008.5 |
| Short-term Debt | $999.1 | $0 | $150 | $1,748.6 | $0 |
| Long-term Debt | $6,274 | $6,281 | $6,938.2 | $6,295.8 | $6,286.8 |
| Total Debt | $7,273.1 | $6,281 | $7,088.2 | $8,044.4 | $6,286.8 |
Cash Flow
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $3,639.9 | $1,384.3 | $1,547.2 | $2,875.5 | $2,204.6 |
| Capital Expenditure | $258.1 | $240.3 | $277 | $153.7 | $153.8 |
| Free Cash Flow | $3,381.8 | $1,144 | $1,270.2 | $2,721.8 | $2,050.8 |
Ratios
USD in millions, except per-share values and percentages.
| Metric | 12/31/2021 | 12/31/2022 | 12/31/2023 | 12/31/2024 | 12/31/2025 |
|---|---|---|---|---|---|
| Revenue Growth | -18.3% | -7.4% | -3.3% | -1.6% | 2.2% |
| Gross Margin | 80.8% | 77.6% | 74.2% | 76.1% | 75.7% |
| EBITDA Margin | 30.3% | - | - | - | - |
| Net Margin | 14.2% | 29.9% | 11.8% | 16.9% | 13.1% |
| FCF Margin | 30.8% | 11.2% | 12.9% | 28.1% | 20.7% |
| Diluted EPS Growth | -58.1% | 100.7% | -61.8% | 40.3% | -21.4% |