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Biogen (BIIB)
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Biogen Income Statement 2025-2006 | BIIB
Brief overview of income trends at Biogen
The conclusions below are based on five years of reported results. Revenue at Biogen moved from 13.4 billion dollars in 2020 to 9.9 billion dollars in 2025. The cumulative result was −26.4%, corresponding to roughly −6% per year. The decline points to a contraction in the scale of the business.
Gross profit was 11.6 billion dollars at the start and 7.5 billion dollars at the end of the period (−35.7%). The relationship between sales and direct costs deteriorated. Gross profit as a share of revenue changed from 86.6% to 75.7%. A lower margin indicates deterioration in the economics of the core business.
The five-year EBITDA result moved by +70.6%: from $457 million to $780 million. Additional revenue translated efficiently into EBITDA. EBITDA margin moved from 3.4% to 7.9%. The business generated more EBITDA from each unit of revenue.
Net profit was $4 billion at the start and $1.3 billion at the end. Profit pressure may reflect higher operating, financing, or tax costs.
Market value was 43.9 billion dollars at the start and 29.4 billion dollars at the end. The decline in value indicates softer investor confidence.
Summary assessment
The indicators point to a weaker financial profile. The constructive conclusion rests on positive operating leverage. The most visible risks are lower net income, a lower gross margin and weak sales momentum. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement Biogen
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
29.4 B | 19.3 B | 19.2 B | 40.4 B | 31.5 B | 43.9 B | 51.9 B | 67.2 B | 75 B | 60.3 B | 63 B | 92 B | 75.4 B | 36.9 B | 28.3 B | 11.9 B | 14.6 B | 18 B | 16.5 B | - |
Shares |
146 M | 146 M | 145 M | 145 M | 149 M | 161 M | 187 M | 205 M | 213 M | 218 M | 231 M | 236 M | 237 M | 238 M | 242 M | 252 M | 287 M | 292 M | 316 M | - |
Historical Prices |
201 | 133 | 133 | 278 | 211 | 273 | 308 | 328 | 289 | 289 | 259 | 410 | 341 | 166 | 116 | 47.2 | 50.9 | 61.4 | 52.3 | 48.1 |
Net Income |
1.29 B | 1.63 B | 1.16 B | 3.05 B | 1.56 B | 4 B | 5.89 B | 4.43 B | 2.54 B | 3.7 B | 3.55 B | 2.93 B | 1.86 B | 1.38 B | 1.23 B | 1.01 B | 970 M | 783 M | 638 M | - |
Revenue |
9.89 B | 9.68 B | 9.84 B | 10.2 B | 11 B | 13.4 B | 14.4 B | 13.5 B | 12.3 B | 11.4 B | 10.8 B | 9.7 B | 6.93 B | 5.52 B | 5.05 B | 4.72 B | 4.38 B | 4.1 B | 3.17 B | - |
Cost of Revenue |
2.4 B | 2.31 B | 2.53 B | 2.28 B | 2.11 B | 1.81 B | 1.96 B | 1.82 B | 1.63 B | 1.48 B | - | - | - | 545 M | 467 M | 400 M | 382 M | 402 M | 335 M | - |
Gross Profit |
7.49 B | 7.37 B | 7.3 B | 7.9 B | 8.87 B | 2.36 B | 12.4 B | 11.6 B | 10.6 B | 9.97 B | 9.52 B | 8.53 B | 6.07 B | 4.97 B | 4.58 B | 1.12 B | 1.03 B | 3.7 B | 2.84 B | - |
Operating Income |
- | - | - | - | 2.84 B | 4.55 B | 7.04 B | 5.89 B | 5.35 B | 5.15 B | 4.89 B | 3.97 B | 2.52 B | 1.86 B | 1.72 B | 1.25 B | 1.3 B | 1.21 B | 780 M | - |
Interest Expense |
268 M | 250 M | 247 M | 247 M | 254 M | 222 M | 187 M | 201 M | 251 M | 260 M | 95.5 M | 29.5 M | 31.9 M | 36.5 M | 33 M | 36.1 M | 35.8 M | 52 M | 72.4 M | - |
EBITDA |
780 M | 673 M | 495 M | 518 M | 3.33 B | 5.01 B | 7.53 B | 6.75 B | 6.34 B | 6.04 B | 5.4 B | 4.41 B | 2.83 B | 2.04 B | 1.95 B | 1.6 B | 1.72 B | 1.68 B | 1.16 B | - |
Operating Expenses |
7.49 B | 7.37 B | 7.3 B | 7.9 B | 6.03 B | -2.19 B | 5.39 B | 5.64 B | 5.12 B | 4.32 B | 4.51 B | 4.62 B | 3.58 B | 3.13 B | 2.84 B | -130 M | -268 M | 2.48 B | 2.06 B | - |
General and Administrative Expenses |
2.43 B | 2.4 B | 2.55 B | 2.4 B | 2.67 B | 2.5 B | - | - | - | - | - | - | - | - | - | 1.03 B | 911 M | 925 M | 776 M | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Biogen
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 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-Q4 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q4 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
148 M | 148 M | 147 M | 100 M | 147 M | 146 M | 146 M | 100 M | 146 M | 146 M | 145 M | - | 145 M | 145 M | 144 M | -500 K | 144 M | 146 M | 146 M | -800 K | 148 M | 150 M | 152 M | 154 M | 157 M | 161 M | 173 M | 178 M | 184 M | 190 M | 197 M | 200 M | 201 M | 207 M | 211 M | 212 M | 211 M | 212 M | 216 M | 217 M | 219 M | 219 M | 219 M | 220 M | 232 M | 235 M | 235 M | 236 M | 236 M | 237 M | 237 M | -231 K | 237 M | 237 M | 237 M | -393 K | 236 M | 239 M | 240 M | 129 M | 243 M | 242 M | 242 M | -4.28 M | 240 M | 260 M | 270 M | -1.06 M | 289 M | 289 M |
Net Income |
-20.6 M | 97.5 M | 320 M | -48.9 M | 466 M | 635 M | 240 M | 267 M | 388 M | 584 M | 393 M | 249 M | -68.3 M | 593 M | 388 M | 550 M | 1.13 B | 1.06 B | 1.06 B | -20.5 M | 318 M | 1.03 B | 405 M | 358 M | 704 M | 1.61 B | 1.39 B | 1.44 B | 1.55 B | 1.49 B | 1.41 B | 945 M | 1.44 B | 915 M | 1.17 B | -166 M | 1.23 B | 863 M | 748 M | 648 M | 1.03 B | 1.05 B | 969 M | 829 M | 1.02 B | 925 M | 820 M | 883 M | 856 M | 723 M | 480 M | 457 M | 488 M | 491 M | 427 M | 292 M | 398 M | 387 M | 303 M | 300 M | 352 M | 288 M | 294 M | 272 M | 254 M | 293 M | 217 M | 306 M | 277 M | 143 M |
Revenue |
2.8 B | 2.74 B | 2.48 B | 2.28 B | 2.53 B | 2.65 B | 2.43 B | 2.45 B | 2.47 B | 2.46 B | 2.29 B | 2.39 B | 2.53 B | 2.46 B | 2.46 B | 2.54 B | 2.51 B | 2.59 B | 2.59 B | 2.73 B | 2.78 B | 2.78 B | 2.69 B | 2.85 B | 3.38 B | 3.68 B | 3.53 B | 3.67 B | 3.6 B | 3.62 B | 3.49 B | 3.53 B | 3.44 B | 3.36 B | 3.13 B | 3.31 B | 3.08 B | 3.08 B | 2.81 B | 2.87 B | 2.96 B | 2.89 B | 2.73 B | 2.84 B | 2.78 B | 2.59 B | 2.56 B | 2.64 B | 2.51 B | 2.42 B | 2.13 B | 1.97 B | 1.83 B | 1.72 B | 1.42 B | 1.42 B | 1.39 B | 1.42 B | 1.29 B | 1.33 B | 1.31 B | 1.21 B | 1.2 B | 1.22 B | 1.18 B | 1.21 B | 1.11 B | 1.13 B | 1.12 B | 1.09 B |
Cost of Revenue |
748 M | 777 M | 661 M | 496 M | 674 M | 605 M | 629 M | 584 M | 639 M | 546 M | 542 M | 618 M | 660 M | 593 M | 663 M | 571 M | 470 M | 484 M | 484 M | 660 M | 512 M | 460 M | 478 M | 491 M | 449 M | 411 M | 454 M | 447 M | 430 M | 476 M | 602 M | 488 M | 461 M | 421 M | 446 M | 509 M | 370 M | 366 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 134 M | 134 M | 139 M | 139 M | 133 M | 140 M | 124 M | 101 M | 103 M | 100 M | 95.9 M | 107 M | 97.1 M | 99.7 M | 93.5 M | 90.7 M |
Gross Profit |
2.06 B | 1.96 B | 1.82 B | 1.78 B | 1.86 B | 2.04 B | 1.8 B | 1.87 B | 1.83 B | 1.92 B | 1.75 B | 1.77 B | 1.87 B | 1.86 B | 1.8 B | 1.97 B | 2.04 B | - | 2.11 B | 2.07 B | 2.27 B | 2.32 B | 2.22 B | 2.36 B | 2.93 B | 3.27 B | 3.08 B | 3.22 B | 3.17 B | 3.14 B | 2.89 B | 3.04 B | 2.98 B | 2.94 B | 2.69 B | 2.8 B | 2.71 B | 2.71 B | 2.43 B | 2.49 B | 2.54 B | 2.52 B | 2.41 B | 2.51 B | 2.47 B | 2.31 B | 2.24 B | 2.34 B | 2.21 B | 2.13 B | 1.85 B | 1.71 B | 1.59 B | 1.49 B | 1.28 B | 1.28 B | 1.25 B | 1.28 B | 1.16 B | 1.19 B | 1.19 B | 1.11 B | 1.1 B | 1.12 B | 1.08 B | 1.11 B | 1.01 B | 1.03 B | 1.03 B | 1 B |
Operating Income |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 611 M | 587 M | 794 M | 486 M | 974 M | -331 M | 1.09 B | 1.97 B | 1.82 B | 1.78 B | 1.81 B | 1.96 B | 1.5 B | 1.44 B | 1.7 B | 1.21 B | 1.53 B | 1.47 B | 1.65 B | 1.2 B | 1.02 B | 888 M | 1.43 B | 1.46 B | 1.38 B | 1.17 B | 1.37 B | 1.23 B | 1.12 B | 1.16 B | 1.15 B | 989 M | 671 M | 658 M | 685 M | 663 M | 511 M | 446 M | 535 M | 506 M | 369 M | 409 M | 488 M | 411 M | 416 M | 355 M | 194 M | 396 M | 304 M | 383 M | 384 M | 223 M |
Interest Expense |
11.2 M | 3 M | -1.1 M | -45.7 M | 16.6 M | 1.9 M | 2.5 M | 8 M | -800 K | -2 M | -1.9 M | 4.7 M | -3.4 M | -2.3 M | 600 K | 35.3 M | 1.7 M | 65.8 M | -26.2 M | 9.6 M | -1 M | -3 M | 100 K | -3.3 M | 700 K | 4.2 M | -4.4 M | -36 M | -3.7 M | -7.1 M | -200 K | -1.7 M | -3.2 M | -3.8 M | -1.8 M | -5.3 M | -5.5 M | -6.2 M | 2.3 M | -4 M | -4.4 M | -5.5 M | -4.4 M | -6.7 M | -2 M | -8.2 M | 3.1 M | -18.2 M | -4.6 M | -2.6 M | -5.6 M | -5.38 M | -4.64 M | -10.4 M | -14.5 M | -14.3 M | -4.55 M | 2.95 M | 15.1 M | -3.97 M | -7.73 M | -11.7 M | 9.95 M | -4.7 M | -6.94 M | 1.01 M | -8.39 M | 6.4 M | 9.4 M | 14.7 M |
EBITDA |
173 M | 168 M | 67.9 M | 132 M | 136 M | 127 M | 71.4 M | 111 M | 110 M | 86.9 M | 69.3 M | 49.9 M | 64.1 M | 64.5 M | 62.1 M | - | 64.2 M | 67.2 M | 678 M | 670 M | 859 M | 540 M | 1.02 B | -272 M | 1.15 B | 2.04 B | 1.89 B | 1.85 B | 1.87 B | 2.03 B | 1.57 B | 1.33 B | 1.98 B | 1.32 B | 1.64 B | 1.25 B | 1.76 B | 1.32 B | 1.47 B | 980 M | 1.52 B | 1.55 B | 1.47 B | 1.26 B | 1.47 B | 1.33 B | 1.21 B | 1.27 B | 1.28 B | 1.11 B | 815 M | 767 M | 785 M | 745 M | 562 M | 496 M | 588 M | 558 M | 415 M | 460 M | 538 M | 466 M | 469 M | 409 M | 248 M | 449 M | 353 M | 439 M | 436 M | 316 M |
Operating Expenses |
- | - | - | - | 1.86 B | - | - | - | - | - | - | - | - | - | - | 1.97 B | 2.04 B | - | 1.49 B | 1.49 B | 1.47 B | 1.83 B | 1.24 B | 2.69 B | 1.84 B | 1.3 B | 1.26 B | 1.45 B | 1.36 B | 1.18 B | 1.39 B | 1.59 B | 1.28 B | 1.72 B | 1.15 B | 1.33 B | 1.05 B | 1.51 B | 1.4 B | 1.61 B | 1.11 B | 1.06 B | 1.04 B | 1.34 B | 1.1 B | 1.07 B | 1.12 B | 1.18 B | 1.06 B | 1.14 B | 1.18 B | 1.05 B | 909 M | 830 M | 771 M | 839 M | 711 M | 776 M | 789 M | 778 M | 698 M | 697 M | 684 M | 764 M | 886 M | 710 M | 708 M | 644 M | 643 M | 780 M |
General and Administrative Expenses |
752 M | 710 M | 607 M | 682 M | 595 M | 584 M | 572 M | 680 M | 588 M | 554 M | 582 M | 608 M | 788 M | 548 M | 605 M | 633 M | 563 M | 573 M | 573 M | 788 M | 654 M | 637 M | 595 M | 806 M | 573 M | 555 M | 570 M | 665 M | 554 M | 588 M | 568 M | 591 M | 498 M | 516 M | 501 M | 572 M | 433 M | 430 M | 499 M | 494 M | 463 M | 492 M | 497 M | 583 M | 478 M | 492 M | 560 M | 574 M | 570 M | 577 M | 512 M | 523 M | 406 M | 431 M | 353 M | 376 M | 300 M | 302 M | 300 M | 284 M | 261 M | 266 M | 245 M | 276 M | 244 M | 262 M | 249 M | 242 M | 227 M | 221 M |
Quarterly performance
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All numbers in USD currency
The income statement is one of the three key financial reports of a company Biogen (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.