Biogen Inc
Exchange: NASDAQSector: HealthcareIndustry: Drug Manufacturers - General
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. About the Collaboration between Eisai and BioArctic for AD Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. About Eisai Co., Ltd. Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care ( hhc ) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.
Did you know?
Earnings per share grew at a -17.5% CAGR.
Current Price
$177.34
-3.50%GoodMoat Value
$108.82
38.6% overvaluedProfile
Valuation (TTM)
Market Cap$26.02B
P/E20.12
EV$29.70B
P/B1.43
Shares Out146.70M
P/Sales2.63
Revenue$9.89B
EV/EBITDA12.28
Biogen Inc (BIIB) Stock Analysis
GoodMoat Analysis
Biogen appears to be a company with a challenged moat and deteriorating quality metrics, currently trading at a premium to its estimated intrinsic value. The analysis suggests it fails the initial gate for a value investor's deeper consideration.
Read full analysis
Biogen is a biotechnology company focused on developing therapies for neurological and neurodegenerative diseases, historically anchored by its multiple sclerosis franchise. Applying the GoodMoat framework, the company's moat appears challenged. While it may possess elements of technology leadership from past innovations and regulatory barriers for its products, these advantages are under pressure from patent expirations and competitive erosion, as evidenced by a -7.1% YoY revenue decline. The quality indicators are unfavourable: revenue growth is negative, ROE of 7.1% is below the 15-20% high-quality threshold, and operating margin of 15.7% is modest for a biopharma. With a Moat Score likely below the critical threshold of 5 and multiple weak quality ratings, the business fails Step 1 of the Decision Framework. Furthermore, the current price of $188.97 is significantly above the GoodMoat Target of $108.82, indicating a negative margin of safety and an unfavourable valuation. For a value investor, this combination of a weakening business profile and premium price does not warrant further investigation at this level.
Market Cap$26.02B
Current Price$177.34
P/E Ratio20.12
Forward P/E—
PEG Ratio-0.17
EPS$8.79
Book Value$124.45
P/B Ratio1.43
BIIB Financial Charts
FCF vs CAPEX
FCFCAPEX
Forward estimates use -17.5% FCF growth (CAGR)
Cash vs Debt
Net Debt: 3.6B
Revenue
14.4B
FY19
13.4B
FY20
11.0B
FY21
10.2B
FY22
9.8B
FY23
9.7B
FY24
9.9B
FY25
Net Income
5.9B
FY19
4.0B
FY20
1.6B
FY21
3.0B
FY22
1.2B
FY23
1.6B
FY24
1.3B
FY25
BIIB 52-Week Range
$113.38
$201.18
50-Day MA: $186.02200-Day MA: $159.23
Did you know?
Earnings per share grew at a -17.5% CAGR.
Biogen Inc (BIIB) Financial Summary
Biogen Inc (BIIB) is a Healthcare company in the Drug Manufacturers - General industry, listed on NASDAQ. The stock currently trades at $177.34 with a market capitalization of $26.02B.
Key valuation metrics include a P/E ratio of 20.12, price-to-book ratio of 1.43, and EPS of $8.79. The company reports a profit margin of 13.1% and return on equity of 7.1%.
BIIB Key Financial Metrics
| Metric | Value |
|---|---|
| Market Cap | $26.02B |
| P/E Ratio | 20.12 |
| EPS | $8.79 |
| P/B Ratio | 1.43 |
| P/S Ratio | 2.63 |
| EV/EBITDA | 12.28 |
| Profit Margin | 13.1% |
| Return on Equity | 7.1% |
| Debt/Equity | 0.36 |
BIIB Revenue & Earnings History
| Year | Revenue | Net Income |
|---|---|---|
| FY19 | $14.38B | $5.89B |
| FY20 | $13.44B | $4.00B |
| FY21 | $10.98B | $1.56B |
| FY22 | $10.17B | $3.05B |
| FY23 | $9.84B | $1.16B |
| FY24 | $9.68B | $1.63B |
| FY25 | $9.89B | $1.29B |
Biogen Inc (BIIB) Valuation
Based on GoodMoat's DCF model, Biogen Inc has a fair value estimate of $108.82. At the current price of $177.34, the stock appears 63.0% overvalued relative to our intrinsic value estimate.
BIIB Quality Indicators
Biogen Inc maintains a profit margin of 13.1% and an operating margin of 15.7%. Return on equity stands at 7.1%. The current ratio is 2.68. Debt-to-equity ratio is 0.36.
About Biogen Inc
Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. About the Collaboration between Eisai and BioArctic for AD Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. About Eisai Co., Ltd. Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care ( hhc ) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.
BIIB Free Cash Flow
Biogen Inc generated $2.02B in trailing twelve-month free cash flow, representing an FCF yield of 7.76%. This strong FCF yield suggests the company generates substantial cash relative to its market value.
BIIB Shares Outstanding
Biogen Inc has 0.15 billion shares outstanding at a share price of $177.34, giving it a market capitalization of $26.02B.
BIIB Recent Insider Trades
Recent insider transactions at Biogen Inc include:
| Insider | Type | Shares | Value |
|---|---|---|---|
| Murphy Nicole (Head of Pharm Ops and Tech) | BUY | 3 | $585.11 |
| Singhal Priya (Head of Development) | SELL | 2,660 | $531547.80 |
| Singhal Priya (Head of Development) | SELL | 748 | $134116.40 |