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BIIBBiogen Inc.
$248.35$36.7B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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BIIB logo

Biogen Inc.

BIIB
NASDAQ · Neuroscience Biotech
$248.35
At close - USD
Market Cap$36.69B
P/E28.1x
52W High$258.78
Volume1M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Biogen Revenue Stabilizes While Earnings Quality Stays Fragile

Biogen's quarterly revenue has held within a roughly $2.3B to $2.8B band, with the latest quarter growing 14.2% year over year, suggesting the portfolio shift is stabilizing the top line.

GrowthMixed
ProfitabilityStrained
ValuationExpensive
TechnicalsStrong
Explore valuation models
MARKET ACTION

BIIB price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

In Line

P/E is in line with peer median

03

Market leadership

RS 88 · Leader

High momentum (Outperforming 88% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Jan 28
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue has moved within a $2.3B to $2.8B band with the latest quarter at 14.2% year-over-year growth, but operating margin compressed from 30.1% in Q1 2025 to 4.6% in the latest quarter, indicating that top-line stability has not translated into consistent profitability.

Analyst Consensus+2.7% target
Buy(49 analysts)
33 Buy15 Hold1 Sell

The Bull Case

Upside Catalysts

Innovative Science Leadership

Biogen is a leading biotechnology company pioneering innovative science to deliver transformative medicines, enhancing patient lives and shareholder value.

Neurological Disease Focus

Specializing in neurological diseases, Biogen has a strong foothold in a critical and growing segment of the healthcare market.

Pipeline Expansion Strategy

With key patents expiring soon, Biogen is actively looking to expand its pipeline to sustain long-term growth.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
BIIB+39.66%
S&P 500 (^GSPC)+7.63%
1-Year Return
BIIB+58.45%
S&P 500 (^GSPC)+9.69%
3-Year Return
BIIB-0.11%
S&P 500 (^GSPC)+71.31%
5-Year Return
BIIB-8.93%
S&P 500 (^GSPC)+59.34%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
105.5x
Forward P/EExpansion
19.9x
EV/EBITDA100th %ile
24.4x
FCF YieldCash Flow
6.4%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
105.5x
19.9x
100th· High
EV/EBITDA
24.4x
12.6x
100th· High
Price/FCF
15.7x
12.6x
60th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$116.66-53.0%
Base (Fair)$212.10-14.6%
Bull$332.54+33.9%
$116.66 Bear$212.10 Base$332.54 Bull
Current Market Price: $248.35
Trades at a 17.1% premium to Base DCF ($212.10)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$9.81B+1.4% YoY
Net income FY25
$1.29B-20.8% YoY
Free cash flow FY25
$2.05B-18.5% YoY
Operating margin FY25
19.1%-6.6 pts YoY
ROIC (FY25)6.5%
Avg ROIC 5Y-
ROE (FY25)7.4%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate11/12 (92%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Oct 28, 2026
$2.62+31.7%
vs $1.99
$2.8B+6.4%
vs $2.6B
Q3 2026
Jul 29, 2026
$3.60+22.4%
vs $2.94
$2.7B+11.2%
vs $2.5B
Q2 2026
Apr 29, 2026
$3.57+17.0%
vs $3.05
$2.5B+8.4%
vs $2.3B
Q1 2026
Feb 6, 2026
$1.99+22.1%
vs $1.63
$2.3B+3.5%
vs $2.2B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Business Wire·2d ago
Biogen Provides Update on Private Payer Coverage for ZURZUVAE™ (zuranolone)

TORONTO--(BUSINESS WIRE)--Biogen Canada Inc. today announced that many group benefit health plans now reimburse ZURZUVAE™ (zuranolone), for the treatment of moderate or severe postpartum depression (PPD) in adults following childbirth, subject to individual plan eligibility and reimbursement requirements. “Reimbursement decisions from private payers help determine whether a treatment is a real option for families,” said Claire Zlobin, Founder, Life With A Baby. “It's exciting to see that most p.

Benzinga·Oct 29, 2026
These Analysts Increase Their Forecasts On Biogen After Upbeat Q3 Results

Biogen Inc (NASDAQ:BIIB) on Wednesday posted better-than-expected earnings for the third quarter.

GlobeNewsWire·Oct 29, 2026
Biogen to Present New Data Across Alzheimer's Disease Portfolio at CTAD 2026

Diranersen late-breaking symposium will feature 96-week long-term extension data and additional 76-week biomarker and clinical data from the Phase 2 CELIA study in early Alzheimer's disease Lecanemab presentations will highlight new long-term and real-world evidence, including initial five-year Clarity AD open-label extension data and three-year LEADER data, with new analyses exploring maintenance treatment and at-home subcutaneous administration Presentations across Biogen's Alzheimer's disease portfolio reflect its continued commitment to advancing innovation in Alzheimer's disease, from long-term treatment outcomes and real-world evidence to investigational approaches targeting core disease pathologies, including amyloid and tau CAMBRIDGE, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) today announced it will present new data across its Alzheimer's disease portfolio at the 19th Clinical Trials on Alzheimer's Disease (CTAD) Conference, taking place November 16–19, 2026, at the Boston Marriott Copley Place in Boston, Massachusetts.

MarketBeat·Oct 28, 2026
Biogen Q3 Earnings Call Highlights

Biogen NASDAQ: BIIB reported third-quarter 2026 revenue growth of 11% year over year, supported by its acquisition of Apellis and continued expansion of its growth-product portfolio. Management said the company remains on track to return to top-line growth in 2026 and raised the lower end of its full-year non-GAAP diluted earnings-per-share guidance.

Filtered for Biogen Inc.More Headlines
04

Compare before deciding

Benchmark BIIB against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Biogen Inc. (BIIB)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BIIB logoBIIBBiogen Inc.Current
$248.35$36.69B28.131.39%13.18%7.4%—
REGN logoREGNRegeneron Pharmaceuticals, Inc.
$904.35$93.17B21.800.99%28.51%15.07%0.38%
VRTX logoVRTXVertex Pharmaceuticals Incorporated
$547.09$138.85B35.719.57%30.61%20.08%—
BMRN logoBMRNBioMarin Pharmaceutical Inc.
$56.03$10.83B31.1312.87%-0.52%-0.31%—
ALNY logoALNYAlnylam Pharmaceuticals, Inc.
$155.94$20.82B66.9365.19%54.34%159.72%—
GILD logoGILDGilead Sciences, Inc.
$166.89$207.21B24.622.39%-12.47%-21.84%1.91%

Compare BIIB vs Peers

Biogen Inc. (BIIB) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs REGN

Most directly comparable listed peer for BIIB.

Scale Benchmark

vs LLY

Larger-name benchmark to compare BIIB against a more recognizable public peer.

Peer Set

Compare Top 5

vs REGN, VRTX, BMRN, ALNY

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

BIIB SEC Filings & Documents

Biogen Inc. (BIIB) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Oct 28, 2026·SEC

Material company update

Jul 29, 2026·SEC

Material company update

Jul 1, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 6, 2026·SEC

FY 2025

Feb 12, 2025·SEC

FY 2024

Feb 14, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Oct 28, 2026·SEC

FY 2026

Jul 29, 2026·SEC

FY 2026

Apr 29, 2026·SEC

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BIIB Frequently Asked Questions

Biogen Inc. (BIIB) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Biogen Inc.'s revenue?

Biogen Inc. (BIIB) reported $10.30B in revenue over the trailing twelve months. Revenue was $9.81B in fiscal year 2025. That is 3441% more than the $277.1M of fiscal year 1996.

How fast is Biogen Inc. growing?

Biogen Inc. (BIIB) grew revenue by 1.4% in fiscal year 2025, compared with the prior fiscal year.

Is BIIB profitable?

Yes. Biogen Inc. (BIIB) earned $348.0M in net income over the trailing twelve months (a 3.4% net margin).

Dividend & Returns
What is BIIB's return on equity?

Biogen Inc. (BIIB) had a return on equity (ROE) of 7.4% in fiscal year 2025. That is below the market's typical 10-15%.

What is Biogen Inc.'s free cash flow?

Biogen Inc. (BIIB) generated $2.34B in free cash flow over the trailing twelve months.

What if you invested $1,000 in BIIB back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →