# Biogen Inc. Common Stock (BIIB) — Stock CV

Biogen Inc. is a $33.4B healthcare company. Revenue grew 0.3% over the last year, it keeps 8¢ of every dollar of sales as profit, and it holds more cash than debt. It trades at 40.0× earnings — near the highest of its own history.

> Biogen is an established biopharmaceutical company focused on treatments for neurodegenerative and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 40% of total revenue in 2025.

## Identity

- **Ticker**: BIIB
- **Sector**: Healthcare
- **Industry**: Biotechnology
- **Headquarters**: CAMBRIDGE, MA
- **Employees**: 7 500
- **Website**: https://www.biogen.com
- **Market cap**: $33.4B
- **Last price**: $225.71
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $10.0B
- **Net income**: $835M
- **Free cash flow**: $2.70B
- **Net cash**: $807M
- **P/E**: 40.0
- **Revenue growth (YoY)**: 0.3%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 57 |
| Growth | 25 |
| Profitability | 35 |
| Health | 53 |
| Quality | 64 |
| Moat | 95 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +0.3% YoY
- [x] Profitable — $835M TTM
- [ ] Profit growing — -25.0% YoY
- [x] Generates cash — $2.70B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $33.4B market cap
- [x] Not printing shares — -8.8% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 28/100
- [x] Valuation not extreme — P/E 40.0

## Experience (career milestones)

- **2025** — It was announced the acquisition had been completed
- **FY2024** — Became debt-free: cash now exceeds total debt
- **2024** — Biogen acquired Human Immunology Biosciences (HI-Bio) for $1.15 billion
- **2023** — Biogen acquired Reata Pharmaceuticals, headquartered in Plano, Texas, for nearly $6.5 billion
- **FY2019** — Best year on record: $5.89B net income
- **2018** — It was acquired by Sanofi in 2018 for $11.6 billion
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $11.4B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2016** — Biogen released Spinraza (nusinersin), a treatment for Spinal Muscular Atrophy
- **2015** — Aducanumab became the first experimental Alzheimer's treatment to show significant results in regard…
- **2013** — Biogen was the first U.S.-based biotechnology company to appear on the Dow Jones Sustainability World Index
- **2007** — The company reached a licensing agreement with Neurimmune, a spin-off from the University of Zurich, for…
- **2003** — Biogen merged with San Diego, California-based IDEC Pharmaceuticals (formed in 1985 by University of…

## Strengths

- High gross margin (74.0%)
- Strong cash conversion — FCF is 26.9% of revenue
- Net cash position after subtracting debt from cash

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $11.0B | $1.56B | $3.38B |
| FY2022 | $10.2B | $3.05B | $1.14B |
| FY2023 | $9.84B | $1.16B | $1.27B |
| FY2024 | $9.68B | $1.63B | $2.72B |
| FY2025 | $9.89B | $1.29B | $2.05B |

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Source: https://stockcv.com/BIIB — derived from company filings; may be delayed or incomplete. Information, not investment advice.