Last 48 quarters of trend data · Healthcare · Drug Manufacturers - General
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
EV/EBITDA has expanded 156.3% YoY to 24.6x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 21.72 | — | 11.05 | 7.22 | 20.86 | 20.89 | 18.22 | 14.49 | 19.97 | 37.83 | — | 17.50 | 26.03 |
| — | — | -39.4% | -50.2% | +4.5% | -44.8% | — | -17.2% | -23.3% | +107.1% | — | +148.5% | +1.9% | |
| P/S Ratio | 2.87 | 2.83 | 2.10 | 1.73 | 2.05 | 2.28 | 2.87 | 3.43 | 3.43 | 3.95 | 3.68 | 4.22 | 4.10 |
| — | +24.5% | -26.8% | -49.5% | -40.2% | -42.4% | -22.0% | -18.7% | -16.2% | -0.0% | -4.6% | +46.5% | +33.5% | |
| P/B Ratio | 1.54 | 1.41 | 1.13 | 1.04 | 1.18 | 1.34 | 1.73 | 2.13 | 2.07 | 2.55 | 2.57 | 2.87 | 2.93 |
| — | +5.8% | -34.5% | -51.2% | -43.1% | -47.5% | -32.7% | -25.7% | -29.4% | -15.2% | -15.1% | +14.0% | +5.7% | |
| P/FCF | 13.73 | 11.61 | 4.20 | 31.75 | 23.52 | 8.04 | 8.78 | 14.50 | 18.19 | — | 18.43 | 25.90 | 25.96 |
| — | +44.4% | -52.1% | +119.0% | +29.3% | — | -52.4% | -44.0% | -29.9% | — | +14.8% | +142.5% | -65.3% | |
| EV / EBITDA | 11.41 | 24.60 | 7.15 | 7.08 | 6.55 | 9.59 | 10.93 | 18.35 | 11.14 | 16.85 | 23.91 | 14.07 | 16.05 |
| — | +156.3% | -34.6% | -61.4% | -41.2% | -43.1% | -54.3% | +30.5% | -30.6% | +5.3% | +127.7% | +73.6% | +16.1% | |
| EV / EBIT | 17.09 | — | 9.34 | 6.05 | 8.79 | 13.10 | 15.63 | 11.91 | 14.76 | 23.85 | 39.41 | 17.93 | 21.30 |
| — | — | -40.3% | -49.2% | -40.4% | -45.1% | -60.3% | -33.6% | -30.7% | +41.8% | +212.4% | +87.3% | +48.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Biogen Inc.'s operating margin was -2.5% in Q4 2025, down 27.5 pp QoQ and down 23.2 pp YoY. The trailing four-quarter average of 18.7% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.5% | 78.2% | 64.3% | 64.2% | 76.2% | 76.2% | 74.1% | 61.2% | 78.3% | 74.1% | 73.9% | 75.9% | 73.1% |
| — | +2.6% | -13.2% | +4.9% | -2.6% | +2.9% | +0.2% | -19.3% | +7.1% | -4.5% | -9.0% | -6.7% | +4.1% | |
| Operating Margin | 19.1% | -2.5% | 25.0% | 22.2% | 30.1% | 20.7% | 23.4% | 14.9% | 30.1% | 21.5% | 12.7% | 28.1% | 23.3% |
| — | -112.1% | +6.8% | +49.5% | -0.0% | -3.4% | +84.6% | -47.1% | +29.2% | -2.2% | -63.4% | -22.4% | +12.6% | |
| Net Margin | 13.2% | -2.1% | 19.0% | 24.0% | 9.9% | 10.9% | 15.8% | 23.7% | 17.2% | 10.5% | -2.7% | 24.1% | 15.7% |
| — | -119.5% | +20.6% | +1.3% | -42.4% | +3.8% | +685.4% | -1.7% | +9.1% | -51.6% | -105.9% | -41.1% | +31.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | -0.3% | 2.6% | 3.7% | 1.4% | 1.6% | 2.4% | 3.8% | 2.6% | 1.7% | -0.5% | 4.2% | 2.9% |
| — | -116.5% | +8.0% | -2.3% | -45.5% | -5.5% | +612.0% | -10.4% | -8.2% | -59.5% | -105.1% | -54.3% | +4.2% | |
| ROA | 4.5% | -0.2% | 1.6% | 2.3% | 0.9% | 0.9% | 1.4% | 2.2% | 1.5% | 0.9% | -0.3% | 2.4% | 1.6% |
| — | -117.4% | +15.0% | +3.0% | -41.8% | +4.3% | +652.2% | -8.0% | -6.7% | -59.3% | -105.6% | -45.3% | +23.4% | |
| ROIC | 6.5% | -0.2% | 2.2% | 2.1% | 2.6% | 1.8% | 2.1% | 1.3% | 2.5% | 1.9% | 1.3% | 2.9% | 2.5% |
| — | -111.0% | +5.2% | +57.6% | +6.6% | -3.7% | +64.4% | -54.2% | -2.9% | -27.7% | -68.7% | -30.7% | +7.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Biogen Inc.'s Debt/EBITDA ratio is 23.3x, up from 8.1x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 98.7% YoY to 2.68x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.36 | 0.37 | 0.39 | 0.40 | 0.41 | 0.42 | 0.46 | 0.50 | 0.53 | 0.46 | 0.48 |
| — | -4.1% | -11.0% | -10.8% | -14.6% | -20.0% | -23.7% | -8.0% | -4.8% | +0.4% | +2.5% | -28.4% | -29.1% | |
| Debt / EBITDA | 2.47 | 23.26 | 8.08 | 8.43 | 7.23 | 9.57 | 8.75 | 12.68 | 8.29 | 11.25 | 17.31 | 8.16 | 9.63 |
| — | +143.1% | -7.7% | -33.5% | -12.8% | -14.9% | -49.4% | +55.3% | -13.9% | +15.3% | +158.4% | +15.8% | -15.3% | |
| Current Ratio | 2.68 | 2.68 | 2.72 | 2.50 | 1.44 | 1.35 | 1.26 | 2.29 | 2.10 | 2.00 | 1.68 | 3.27 | 3.24 |
| — | +98.7% | +115.7% | +9.4% | -31.3% | -32.5% | -25.2% | -30.1% | -35.3% | -33.2% | -32.3% | +68.6% | +61.4% | |
| Quick Ratio | 2.03 | 2.03 | 2.04 | 1.79 | 1.01 | 0.90 | 0.80 | 1.48 | 1.32 | 1.26 | 1.09 | 2.86 | 2.81 |
| — | +124.9% | +154.3% | +20.8% | -23.2% | -28.4% | -26.2% | -48.1% | -53.2% | -51.1% | -49.0% | +69.6% | +65.7% | |
| Interest Coverage | 7.63 | -1.24 | 9.11 | 8.10 | 12.21 | 8.48 | 9.65 | 5.98 | 9.98 | 7.17 | 5.03 | 14.05 | 9.19 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonBiogen Inc.'s current P/E is 21.7x. The average P/E over the last 3 quarters is 13.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Biogen Inc.'s current operating margin is 19.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Biogen Inc.'s business trajectory between earnings reports.