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Biogen (BIIB)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
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Biogen Balance Sheet 2025-2006 | BIIB
Brief overview of Biogen 's balance sheet structure
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
Assets increased from $23.9 billion to $29.4 billion, or +23.3%; CAGR of about 5.4% indicates steady balance sheet expansion.
Liabilities increased less than assets, posting -13.4% versus +23.3%. That relationship usually strengthens the balance sheet.
Equity accounts for 62% of assets. Against the initial 45.6%, the capital position looks resilient.
Each unit of equity supports about 0.18x of net debt. Dependence on debt remains comfortable.
The cash reserve occupies 10.2% of the balance sheet, previously 9.5%. It is one marker of short-term resilience.
Retained earnings reached $20.6 billion, changing +47.7% over the period. A positive accumulated result supports equity.
Overall picture
Biogen 's balance sheet looks resilient: assets are supported by substantial equity, while debt does not overwhelm financial flexibility.
Annual Balance Sheet Biogen
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
3.36 B | 4.01 B | 5.98 B | 2.96 B | 4.1 B | 6.1 B | 3.04 B | 7.03 B | 4.36 B | 4.19 B | 5.22 B | -620 M | -6.66 M | 570 M | 550 M | 276 M | - | - | - | - |
Long Term Debt |
6.29 B | 6.3 B | 6.94 B | 6.28 B | 6.27 B | 7.43 B | 4.46 B | 5.94 B | 5.94 B | 6.51 B | 6.52 B | 582 M | 592 M | 687 M | 1.06 B | 1.04 B | - | - | - | - |
Long Term Debt Current |
80.4 M | 86.4 M | 90.3 M | 97.2 M | 89.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 9.03 B | 8.96 B | 7.69 B | 7.33 B | 7.55 B | 1.28 B | 1.48 B | 1.51 B | 1.71 B | - | - | - | - | - |
Total Current Liabilities |
3.35 B | 5.53 B | 3.43 B | 3.27 B | 4.3 B | 3.74 B | 4.86 B | 3.3 B | 3.37 B | 3.42 B | 2.58 B | 2.22 B | 1.76 B | 1.66 B | 913 M | 1.05 B | 715 M | 923 M | - | - |
Total Liabilities |
11.2 B | 11.3 B | 12 B | 11.2 B | 12.9 B | 13.9 B | 13.9 B | 12.3 B | 11.1 B | 10.7 B | 10.1 B | 3.5 B | 3.24 B | 3.17 B | 2.62 B | 2.64 B | 2.29 B | 2.65 B | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | 55.7 M | 121 M | 173 M | 148 M | - | 41.3 M | 38.7 M | - | - | - |
Retained Earnings |
20.6 B | 19.3 B | 17.6 B | 16.5 B | 13.9 B | 14 B | 16.5 B | 16.3 B | 15.8 B | 15.1 B | 12.2 B | 9.28 B | 6.35 B | 4.49 B | 3.11 B | 1.87 B | 1.07 B | 270 M | - | - |
Total Assets |
29.4 B | 28 B | 26.8 B | 24.6 B | 23.9 B | 24.6 B | 27.2 B | 25.3 B | 23.7 B | 22.9 B | 19.5 B | 14.3 B | 11.9 B | 10.1 B | 9.05 B | 8.09 B | 8.55 B | 8.48 B | - | - |
Cash and Cash Equivalents |
3.01 B | 2.38 B | 1.05 B | 3.42 B | 2.26 B | 1.33 B | 2.91 B | 1.22 B | 1.57 B | 2.33 B | 1.31 B | 1.2 B | 603 M | 571 M | 515 M | 760 M | 582 M | 622 M | 660 M | 661 M |
Book Value |
18.3 B | 16.7 B | 14.8 B | 13.4 B | 11 B | 10.7 B | 13.3 B | 13 B | 12.6 B | 12.1 B | 9.37 B | 10.8 B | 8.62 B | 6.96 B | 6.43 B | 5.45 B | 6.26 B | 5.83 B | - | - |
Total Shareholders Equity |
18.3 B | 16.7 B | 14.8 B | 13.4 B | 10.9 B | 10.7 B | 13.3 B | 13 B | 12.6 B | 12.1 B | 9.37 B | 10.8 B | 8.62 B | 6.96 B | 6.43 B | 5.4 B | 6.22 B | 5.81 B | 5.55 B | 7.16 B |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet Biogen
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
6.29 B | 6.29 B | 6.28 B | 4.55 B | 4.55 B | 6.29 B | 6.29 B | 6.79 B | 6.28 B | 6.28 B | 6.28 B | 6.28 B | 6.28 B | 6.28 B | 6.27 B | 6.27 B | 7.27 B | 6.27 B | 7.43 B | 7.43 B | 7.43 B | 7.43 B | 4.46 B | 4.46 B | 4.46 B | 4.46 B | 5.94 B | 5.94 B | 5.94 B | 5.94 B | 5.94 B | 5.94 B | 5.94 B | 5.94 B | 6.51 B | 6.51 B | 6.51 B | 6.51 B | 6.52 B | 6.52 B | 6.52 B | 6.52 B | 580 M | 580 M | 582 M | 582 M | 592 M | 592 M | 592 M | 592 M | 687 M | 687 M | 687 M | - | 1.02 B | - | - | - | - | - | - | - | - |
Total Liabilities |
10.8 B | 11 B | 10.7 B | 11.1 B | 12 B | 10.9 B | 11.4 B | 13.7 B | 10.7 B | 10.8 B | 11.2 B | 12.1 B | 13.2 B | 12.4 B | 12.9 B | 12.9 B | 13.3 B | 12.9 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 13.9 B | 12.3 B | 12.3 B | 12.3 B | 12.3 B | 11.1 B | 11.1 B | 11.1 B | 11.1 B | 10.7 B | 10.7 B | 10.7 B | 10.7 B | 10.1 B | 10.1 B | 10.1 B | 10.1 B | 3.5 B | 3.5 B | 3.5 B | 3.5 B | 3.24 B | 3.24 B | 3.24 B | 3.24 B | 3.17 B | 3.17 B | 3.17 B | 3.17 B | 2.62 B | 2.62 B | 2.62 B | 2.62 B | 2.32 B | 2.29 B | 2.27 B | 2.43 B | 2.53 B |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 55.7 M | 58.4 M | 62.5 M | 125 M | 121 M | 121 M | 121 M | 121 M | 173 M | 173 M | 173 M | 173 M | 148 M | 148 M | 148 M | 148 M | 69.6 M | 69.6 M | 69.6 M | 69.6 M | - | - | - | - | - |
Retained Earnings |
20.9 B | 20.6 B | 20.1 B | 19.5 B | 19 B | 18.6 B | 18 B | 17.4 B | 17.4 B | 16.9 B | 16.5 B | 15.9 B | 15 B | 14.2 B | 13.9 B | 13.5 B | 13.9 B | 13.9 B | 14 B | 14 B | 14 B | 14 B | 16.5 B | 16.5 B | 16.5 B | 16.5 B | 16.3 B | 16.3 B | 16.3 B | 16.3 B | 15.8 B | 15.8 B | 15.8 B | 15.8 B | 15.1 B | 15.1 B | 15.1 B | 15.1 B | 12.2 B | 12.2 B | 12.2 B | 12.2 B | 9.28 B | 9.28 B | 9.28 B | 9.28 B | 6.35 B | 6.35 B | 6.35 B | 6.35 B | 4.49 B | 4.49 B | 4.49 B | 4.49 B | 3.11 B | 3.11 B | 3.11 B | 3.11 B | 1.65 B | 1.41 B | 1.13 B | 781 M | 517 M |
Total Assets |
29.5 B | 29.2 B | 28.3 B | 28 B | 28.3 B | 26.8 B | 26.6 B | 28.2 B | 25.2 B | 24.6 B | 24.6 B | 24.9 B | 25.1 B | 23.6 B | 23.9 B | 23.8 B | 24.5 B | 23.9 B | 24.6 B | 24.6 B | 24.6 B | 24.6 B | 27.2 B | 27.2 B | 27.2 B | 27.2 B | 25.3 B | 25.3 B | 25.3 B | 25.3 B | 23.7 B | 23.7 B | 23.7 B | 23.7 B | 22.9 B | 22.9 B | 22.9 B | 22.9 B | 19.5 B | 19.5 B | 19.5 B | 19.5 B | 14.3 B | 14.3 B | 14.3 B | 14.3 B | 11.9 B | 11.9 B | 11.9 B | 11.9 B | 10.1 B | 10.1 B | 10.1 B | 10.1 B | 9.05 B | 9.05 B | 9.05 B | 9.05 B | 7.39 B | 7.5 B | 8.22 B | 9.03 B | 8.78 B |
Cash and Cash Equivalents |
3.38 B | 3.86 B | 2.76 B | 2.6 B | 1.7 B | 1.91 B | 1.07 B | 2.29 B | 2.62 B | 2.9 B | 3.42 B | 3.68 B | 2.65 B | 1.75 B | 2.26 B | 1.54 B | 1.74 B | 2.26 B | 1.33 B | 1.33 B | 1.33 B | 1.33 B | 2.91 B | 2.34 B | 1.72 B | 2.24 B | 1.22 B | 1.22 B | 1.22 B | 1.22 B | 1.57 B | 1.57 B | 1.57 B | 1.57 B | 2.33 B | 2.33 B | 2.33 B | 2.33 B | 1.31 B | 1.31 B | 1.31 B | 1.31 B | 1.2 B | 1.2 B | 1.2 B | 1.2 B | 603 M | 603 M | 603 M | 603 M | 571 M | 571 M | 571 M | 571 M | 515 M | 515 M | 515 M | 515 M | 627 M | 721 M | 640 M | 586 M | 787 M |
Book Value |
18.7 B | 18.2 B | 17.6 B | 17 B | 16.4 B | 15.9 B | 15.2 B | 14.5 B | 14.5 B | 13.8 B | 13.4 B | 12.8 B | 11.9 B | 11.2 B | 11 B | 10.9 B | 11.2 B | 11 B | 10.7 B | 10.7 B | 10.7 B | 10.7 B | 13.3 B | 13.3 B | 13.3 B | 13.3 B | 13 B | 13 B | 13 B | 13 B | 12.6 B | 12.6 B | 12.6 B | 12.6 B | 12.1 B | 12.1 B | 12.1 B | 12.1 B | 9.37 B | 9.37 B | 9.37 B | 9.37 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 8.62 B | 8.62 B | 8.62 B | 8.62 B | 6.96 B | 6.96 B | 6.96 B | 6.96 B | 6.43 B | 6.43 B | 6.43 B | 6.43 B | 5.07 B | 5.21 B | 5.95 B | 6.6 B | 6.25 B |
Total Shareholders Equity |
18.7 B | 18.2 B | 17.6 B | 17 B | 16.4 B | 15.9 B | 15.2 B | 14.5 B | 14.5 B | 13.8 B | 13.4 B | 12.8 B | 11.9 B | 11.2 B | 10.9 B | 10.9 B | 10.8 B | 10.9 B | 10.7 B | 10.7 B | 10.7 B | 10.7 B | 13.3 B | 13.3 B | 13.3 B | 13.3 B | 13 B | 13 B | 13 B | 13 B | 12.6 B | 12.6 B | 12.6 B | 12.6 B | 12.1 B | 12.1 B | 12.1 B | 12.1 B | 9.37 B | 9.37 B | 9.37 B | 9.37 B | 10.8 B | 10.8 B | 10.8 B | 10.8 B | 8.62 B | 8.62 B | 8.62 B | 8.62 B | 6.96 B | 6.96 B | 6.96 B | 6.96 B | 6.43 B | 6.43 B | 6.43 B | 6.43 B | 5.03 B | 5.17 B | 5.91 B | 6.56 B | 6.25 B |
Quarterly performance
Select metrics to display
All numbers in USD currency
Balance Sheet is a fundamental financial report of Biogen , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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