BIIB NASDAQ
Biogen Inc.
1W: +4.0%
1M: +10.5%
3M: +20.8%
YTD: +42.1%
1Y: +68.6%
3Y: -1.8%
5Y: -5.7%
$252.73
+0.47 (+0.19%)
Pre-Market: $259.75 (+7.02, +2.78%)
Weekly Expected Move ±4.4%
$229
$240
$251
$262
$273
Credit Risk of going bust: lower than 68% of companies Debt: 18.3% of company value Bonds: $137.0M held by 192 funds, 91 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $4.22 (down 98%), Biogen Inc. would be worth roughly what it owes.
Total debt $8.36B against a stock market value of $37.34B.
Distance to default 7.34 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $4.45B (short-term plus half of long-term), stock volatility 33.9%; Altman Z 3.16. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $4.22 (down 98%), Biogen Inc. would be worth roughly what it owes.
Total debt $8.36B against a stock market value of $37.34B.
Distance to default 7.34 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $4.45B (short-term plus half of long-term), stock volatility 33.9%; Altman Z 3.16. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$2.2B
-23.3% ▼
5Y CAGR: -12.2%
Capital Expenditures
$154M
+57.3% ▲
5Y CAGR: -18.4%
Free Cash Flow
$2.1B
-18.5% ▼
5Y CAGR: -11.6%
Dividends Paid
$0
+0.0% ▲
Buybacks
$0
+0.0% ▲
Net Change in Cash
$634M
-52.2% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $1.7B | $3.0B | $1.2B | $1.6B | $1.3B |
| Depreciation & Amort. | $488M | $518M | $495M | $673M | $780M |
| Stock-Based Comp. | $239M | $254M | $264M | $291M | $291M |
| Change in Working Capital | -$146M | -$890M | -$649M | -$155M | -$1.1B |
| Other Non-Cash Items | $1.8B | -$1.3B | $581M | $592M | $537M |
| Operating Cash Flow | $3.6B | $1.4B | $1.5B | $2.9B | $2.2B |
| — Investing Activities — | |||||
| Capital Expenditures | -$295M | -$243M | -$311M | -$360M | -$154M |
| Acquisitions (Net) | $28M | $595M | -$6.9B | -$1.1B | $0 |
| Investment Purchases | -$3.8B | -$3.4B | -$5.1B | $0 | -$1.3B |
| Investment Sales | $3.5B | $4.7B | $8.3B | $552M | $80M |
| Other Investing | $13M | $24M | -$11M | $84M | -$39M |
| Investing Cash Flow | -$564M | $1.6B | -$4.1B | -$799M | -$1.4B |
| — Financing Activities — | |||||
| Net Debt Issuance | -$170M | -$1.0B | $187M | -$650M | -$17M |
| Stock Repurchased | -$1.8B | -$750M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | -$115M | -$6M | -$6M | -$2M | -$275M |
| Financing Cash Flow | -$2.1B | -$1.8B | $137M | -$684M | -$302M |
| Net Change in Cash | $930M | $1.2B | -$2.4B | $1.3B | $634M |
| Cash End of Period | $2.3B | $3.4B | $1.0B | $2.4B | $3.0B |
| Free Cash Flow | $3.4B | $1.1B | $1.2B | $2.5B | $2.1B |