NASDAQ · BIIB
Biogen Inc.
Healthcare · Drug Manufacturers - General
$249.65▲ 2.29% ($5.60)at close
After hours$249.80▲ 0.06%7:49 PM ET
Valuation
Cash-flow DCF
Verdict: expensive. Price above all scenarios.
The price needs 19.3% free cash flow growth a year for 5 years. Our scenarios assume −23.2–6.8%.
Its past 10 years averaged −8.2% a year.
Value per share
Base case
$42.25
Price used $249.65 is 5.9× this
USD · TTM ending Sep 30, 2026 · Price Oct 29, 8:00 PM UTC
Effective tax rate could not be derived — using 21% US default.
4 more notes
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.17) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Reported total debt includes capitalised leases (~1% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
Free cash flow each value needs
Free cash flow today $711M. The price needs $2B by 2036. Base case: $549M. At its recent pace: $301M. Bear to Bull: $225M to $1.2B.
Free cash flow today $711M. The price needs $2B by 2036. Base case: $549M. At its recent pace: $301M. Bear to Bull: $225M to $1.2B.
Free cash flow in 2036
today $711M
+$1.5Bmore than the Base case · 3.7×
Value per share · Base case
$42.25
Price $249.65
5.9× this
- Stage 1 growth, yrs 1–5
- −8.2%
- Stage 2 growth, yrs 6–10
- 3.5%
- Discount rate
- 6.4%
Effective tax rate could not be derived — using 21% US default.
4 more notes
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Market beta (0.17) is below the minimum default of 0.5 — short lookback windows can understate systematic risk. Beta floored at 0.5 for default assumptions; adjust manually if needed.
Reported total debt includes capitalised leases (~1% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.
USD · TTM ending Sep 30, 2026 · Price Oct 29, 8:00 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
What changed
The stock rose 68.84% over the last year. Revenue grew 3.12% over the trailing twelve months. Operating margin moved from 24.47% to 6.31%. Free cash flow grew 2.87% over the trailing twelve months.
What the market seems to be pricing
The stock has moved higher against modestly weakening underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 6.31%. A decisive move in revenue — currently up 3.12% — would be the clearest signal to resolve the ambiguity.
Return analysis
Company profile
Biogen Inc. is a leading biotechnology firm dedicated to the discovery, development, production, and distribution of treatments for complex neurological and neurodegenerative conditions.
Market multiples
Stock splits
Every 1 shares became 3
Every 1 shares became 2
Profitability & growth
Analyst consensus
33
Buy
15
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Actuals vs estimates by quarter, or any quarter against the same one a year earlier.
Next report
Feb 5, 2027
Q4 FY26 · EPS est $2.91 · Revenue est $2.6B
Same quarter, year over year
FY26 YTD -26.4%Each cell vs the same quarter a year earlier (the cell below) · Q1–Q3 combined $9.79 vs $13.30 · 1 of 3 quarters up
Q1
Q2
Q3
Q4
FY total
FY26
—
FY25
FY24
FY23
—
—
—
—
Fiscal year totals
- FY25
- $15.29
- -7.2%
- FY24
- $16.47
- —
Q3 FY26
Reported Oct 28, 2026 · Latest
HoverTap a cell to inspect
Actual
$2.62
Estimate
$1.99
Year over year
-45.5%
Vs prior quarter
-27.2%
Institutional Sentiment
Biogen Inc. · BIIB
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.