Biogen revenue and financials
$222.89Change from previous close: −0.31%Absolute change: −$0.70
In the fiscal year ended December 2025, Biogen reported revenue of $9.89B (+2.22% year over year). Net income was $1.29B, a net margin of 13.1%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +2.22%
- 2025 vs 2024
- Net income growth
- −20.79%
- 2025 vs 2024
- Net margin
- 13.1%
- 2024: 16.9%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 449 | 646 | 512 | 1,273 | 161 | 259 | 761 | 936 | 626 | 553 | 12.5 | 592 |
| Depreciation and amortization | 236 | 204 | 200 | 202 | 194 | 183 | 184 | 183 | 159 | 148 | 140 | 125 |
| Capital expenditure | -40.9 | -51.2 | -43.9 | -46.2 | -26.6 | -37.1 | -39.3 | -35.0 | -33.5 | -45.9 | -65.2 | -74.2 |
| Investing cash flow | -3,839 | -210 | -1,232 | -35.1 | -57.0 | -47.3 | -18.6 | -1,181 | 467 | -66.0 | -652 | -1,742 |
| Financing cash flow | 1,296 | -43.8 | -137 | -130 | -11.7 | -23.0 | 7.9 | -6.6 | -245 | -440 | -646 | 849 |
| Debt issued | 2,400 | — | 0.0 | -0.3 | 1,733 | — | — | — | — | — | — | 997 |
| Debt repaid | -1,097 | — | -280 | 0.0 | -1,750 | 0.0 | — | — | -250 | -400 | -650 | -160 |
| Effect of exchange rates | -3.4 | -18.0 | 2.5 | -3.2 | 68.3 | 34.3 | -74.4 | 42.4 | -12.6 | -23.1 | 47.9 | -28.7 |
| Net change in cash | -2,098 | 374 | -854 | 1,104 | 161 | 223 | 676 | -210 | 835 | 24.5 | -1,238 | -330 |
| Free cash flow | 408 | 594 | 468 | 1,226 | 134 | 222 | 722 | 901 | 592 | 507 | -52.7 | 518 |
| Levered free cash flow | -445 | 495 | 199 | 1,010 | 219 | 511 | 572 | 1,149 | 1,375 | 353 | -596 | 139 |