Biogen (BIIB): financials, SEC filings and peers
Biogen (BIIB) is a biotechnology company in the Health Care sector of the S&P 500, headquartered in Cambridge, Massachusetts.
It was founded in 1978 and joined the S&P 500 on November 13, 2003.
Its fiscal year ends in December, and its shares trade on the Nasdaq.
In its SEC filings it is classified as “Biological Products, (No Diagnostic Substances)”.
Biogen at a glance
- Revenue (12 months)
- $10.3B
- Revenue growth
- +2.3%
- Operating margin
- 7.3%
- Net income (12 months)
- $348M
- Free cash flow (12 months)
- $2.1B
- Cash
- $1.3B
- Debt
- $7.3B
- Diluted EPS (12 months)
- $2.32
Twelve months to September 30, 2026, from the 10-Q filed October 28, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, Biogen reported revenue of $10.3 billion, about the same as a year earlier (+2.3%).
Its operating margin was 7.3%, down 14.2 percentage points from a year earlier: for every $100 of sales, about $7 was left as operating profit.
Net income was $348 million (3.4% of revenue), 78.4% lower than a year earlier.
Operating cash flow was $2.2 billion and capital spending $176 million, leaving free cash flow of $2.1 billion (20.1% of revenue).
At the end of the period it held $1.3 billion in cash and $7.3 billion in debt, a net debt position of $6.0 billion.
Five-year trend
- Revenue went from $13.4 billion in fiscal 2020 to $9.9 billion in fiscal 2025, a decline of about 6.0% a year.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $11.0B | $10.2B | $9.8B | $9.7B | $9.9B |
| Revenue growth | -18.3% | -7.4% | -3.3% | -1.6% | 2.2% |
| Operating margin | 25.9% | — | — | — | — |
| Net income | $1.6B | $3.0B | $1.2B | $1.6B | $1.3B |
| 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 as reported in Biogen’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed October 28, 2026 — quarterly report
- 8-K filed October 28, 2026 — Earnings results
- 10-Q filed July 29, 2026 — quarterly report
- 8-K filed July 29, 2026 — Earnings results
- 8-K filed July 1, 2026 — Earnings results
- 8-K filed June 10, 2026 — Shareholder vote results
- 8-K/A filed June 10, 2026
- 8-K filed May 14, 2026 — Material agreement; Acquisition or sale of assets
Companies like Biogen
Other S&P 500 companies in Biotechnology:
- ABBVAbbVieNorth Chicago, Illinois
- AMGNAmgenThousand Oaks, California
- GILDGilead SciencesFoster City, California
- INCYIncyteWilmington, Delaware
- MRNAModernaCambridge, Massachusetts
- REGNRegeneron PharmaceuticalsTarrytown, New York
- VRTXVertex PharmaceuticalsBoston, Massachusetts
More from Health Care
Questions about Biogen
Is Biogen's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $10.3 billion, up 2.3% from a year earlier, according to its SEC filings.
Is Biogen profitable?
Yes. It earned $348 million in net income over the twelve months to September 30, 2026, a net margin of 3.4%.
Does Biogen have more cash or more debt?
At September 30, 2026 it had $1.3 billion in cash and $7.3 billion in debt, so more debt than cash.
When did Biogen last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 28, 2026.
Which companies are similar to Biogen?
In the S&P 500, Biogen is grouped in Biotechnology within the Health Care sector. AbbVie (ABBV), Amgen (AMGN), Gilead Sciences (GILD), Incyte (INCY), Moderna (MRNA) are in the same group.
Understand the numbers
Source: Biogen’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.