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Biogen Inc (BIIB) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · Biotechnology · DATA UPDATED 2026-07-16

Biogen Inc (BIIB) operates in the Biotechnology industry and is headquartered in Cambridge, United States with about 7,500 employees. Its market capitalization is roughly $30 billion. In the fiscal year ended 2025-12-31, BIIB reported $9.8B in revenue and $1.3B in net income.

Biogen Inc. discovers, develops, manufactures, and delivers therapies in the United States, Europe, Germany, Asia, and internationally.

Interactive charts & full statements → Open the BIIB valuation workbench →

BIIB Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$9.9B	$9.8B	$9.7B	$9.8B	$10.2B	$11.0B	$13.4B	$14.4B	$13.5B	$12.3B	$11.4B	$10.8B	$9.7B	$6.9B	$5.5B	$5.0B	$4.7B	$4.4B	$4.1B	$3.2B	$2.7B
Gross Profit	$6.9B	$6.9B	$7.4B	$7.3B	$7.9B	$8.9B	$11.6B	$12.4B	$11.6B	$10.6B	$10.0B	$9.5B	$8.5B	$6.1B	$5.0B	$4.6B	$4.3B	$4.0B	$3.7B	$2.8B	$2.4B
Gross Margin %	69.8%	70.5%	76.1%	74.2%	77.6%	80.8%	86.6%	86.4%	86.5%	86.7%	87.5%	88.5%	87.9%	87.6%	90.1%	90.8%	91.5%	91.3%	90.2%	89.4%	89.8%
Operating Income (EBIT)	$1.5B	$1.9B	$2.5B	$2.1B	$2.9B	$2.8B	$4.6B	$7.0B	$5.9B	$5.3B	$5.2B	$4.9B	$4.0B	$2.5B	$1.8B	$1.7B	$1.2B	$1.3B	$1.2B	$780M	$440M
Operating Margin %	15.7%	19.1%	25.7%	21.3%	28.4%	25.4%	34.2%	49.0%	43.8%	43.5%	45.0%	45.4%	40.9%	36.3%	33.3%	34.2%	26.5%	29.6%	29.6%	24.6%	16.4%
Net Income	$1.4B	$1.3B	$1.6B	$1.2B	$3.0B	$1.6B	$4.0B	$5.9B	$4.4B	$2.5B	$3.7B	$3.5B	$2.9B	$1.9B	$1.4B	$1.2B	$1.0B	$970M	$783M	$638M	$218M
Net Margin %	13.9%	13.2%	16.9%	11.8%	29.9%	14.2%	29.8%	41.0%	32.9%	20.7%	32.3%	33.0%	30.2%	26.9%	25.0%	24.4%	21.3%	22.2%	19.1%	20.1%	8.1%
EBITDA	$2.7B	$3.1B	$3.0B	$2.4B	$3.5B	$3.9B	$5.1B	$7.7B	$7.0B	$6.6B	$6.3B	$5.6B	$4.6B	$3.0B	$2.2B	$2.1B	$1.6B	$1.8B	$1.7B	$1.3B	$869M
Earnings Per Share (EPS)	$9.35	$8.82	$11.19	$7.97	$20.87	$10.40	$24.80	$31.42	$21.58	$11.92	$16.92	$15.34	$12.37	$7.81	$5.76	$5.04	$3.94	$3.35	$2.65	$1.99	$0.63
Shares Outstanding (M)	148M	147M	146M	146M	146M	150M	161M	187M	205M	213M	219M	231M	237M	238M	240M	245M	255M	289M	295M	320M	345M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BIIB Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.5B	$2.3B	$2.5B	$2.6B	$2.4B	$2.5B	$2.5B	$2.5B
Gross Profit	$1.8B	$1.8B	$1.6B	$1.7B	$1.9B	$1.9B	$1.8B	$1.5B
Gross Margin %	73.3%	78.2%	64.3%	64.2%	76.2%	76.2%	74.1%	61.2%
Operating Income (EBIT)	$397M	($57M)	$614M	$588M	$733M	$509M	$577M	$366M
Operating Margin %	16.0%	-2.5%	25.0%	22.2%	30.1%	20.7%	23.4%	14.9%
Net Income	$320M	($48M)	$466M	$635M	$240M	$267M	$388M	$584M
Net Margin %	12.9%	-2.1%	19.0%	24.0%	9.9%	10.9%	15.8%	23.7%
EBITDA	$554M	$212M	$827M	$1.1B	$865M	$692M	$714M	$968M
Earnings Per Share (EPS)	$2.15	$-0.33	$3.17	$4.35	$1.65	$1.83	$2.66	$4.00
Shares Outstanding (M)	148M	147M	147M	146M	146M	146M	146M	146M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BIIB Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.6B	$2.2B	$2.9B	$1.5B	$1.4B	$3.6B	$4.2B	$7.1B	$6.2B	$4.6B	$4.5B	$3.7B	$2.9B	$2.3B	$1.9B	$1.7B	$1.6B	$1.1B	$1.6B	$1.0B	$841M
Capital Expenditures (CapEx)	$158M	$154M	$360M	$311M	$240M	$295M	$552M	$514M	$771M	$867M	$616M	$643M	$288M	$3.5B	$255M	$252M	$173M	$166M	$276M	$284M	$198M
Free Cash Flow (FCF)	$2.4B	$2.1B	$2.5B	$1.2B	$1.1B	$3.3B	$3.7B	$6.6B	$5.4B	$3.7B	$3.9B	$3.1B	$2.7B	($1.2B)	$1.6B	$1.5B	$1.5B	$909M	$1.3B	$737M	$643M
FCF Margin %	24.7%	20.9%	26.0%	12.6%	11.2%	30.5%	27.4%	45.6%	40.3%	30.0%	34.1%	28.5%	27.4%	-16.8%	29.5%	29.2%	30.8%	20.8%	31.4%	23.2%	24.0%
Dividends Paid	—	—	—	—	—	$1M	$5M	—	$36M	$303M	$0M	$5.9B	$54.8B	$66.7B	$67.4B	$27M	$12M	$4M	$987M	$1.5B	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BIIB Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$646M	$512M	$1.3B	$161M	$259M	$761M	$936M	$626M
Capital Expenditures (CapEx)	$51M	$44M	$46M	$17M	$47M	$66M	$130M	$43M
Free Cash Flow (FCF)	$594M	$468M	$1.2B	$144M	$212M	$695M	$806M	$583M
FCF Margin %	24.0%	20.5%	50.0%	5.5%	8.7%	28.3%	32.7%	23.7%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

BIIB Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$29.5B	$29.4B	$28.0B	$26.8B	$24.6B	$23.9B	$24.6B	$27.2B	$25.3B	$23.7B	$22.9B	$19.5B	$14.3B	$11.9B	$10.1B	$9.1B	$8.1B	$8.6B	$8.5B	$8.6B	$8.6B
Cash & Cash Equivalents	$3.4B	$3.0B	$2.4B	$1.1B	$3.4B	$2.3B	$1.3B	$2.9B	$1.2B	$1.6B	$2.3B	$1.3B	$1.2B	$603M	$571M	$515M	$760M	$582M	$622M	$660M	$661M
Total Liabilities	$10.8B	$11.2B	$11.3B	$12.0B	$11.2B	$12.9B	$13.9B	$13.9B	$12.3B	$11.1B	$10.7B	$10.1B	$3.5B	$3.2B	$3.2B	$2.6B	$2.6B	$2.3B	$2.7B	$3.1B	$1.4B
Total Debt (Short + Long-Term)	$6.3B	$6.4B	$6.3B	$6.9B	$6.5B	$7.3B	$7.6B	$6.0B	$5.9B	$5.9B	$6.5B	$6.5B	$585M	$596M	$1.1B	$1.1B	$1.2B	$1.1B	$1.1B	$1.6B	$97M
Total Shareholders' Equity	$18.7B	$18.3B	$16.7B	$14.8B	$13.4B	$10.9B	$10.7B	$13.3B	$13.0B	$12.6B	$12.1B	$9.4B	$10.8B	$8.6B	$7.0B	$6.4B	$5.4B	$6.2B	$5.8B	$5.5B	$7.2B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive BIIB viewer.

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