Biogen (BIIB) Stock Analysis

November 11, 2026

This is a peer-relative look at Biogen (BIIB): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Pharmaceuticals, Biotechnology & Life Sciences peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Biogen (BIIB)
Profile Item	BIIB
Name	Biogen Inc.
Country/Region	United States
GICS Sector	Health Care
GICS Industry Group	Pharmaceuticals, Biotechnology & Life Sciences
GICS Industry	Biotechnology
GICS Sub-Industry	Biotechnology
Market Capitalization	36.71 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	September 17, 1991
Security Type	Common Stock

Price Performance

Cumulative Growth

BIIB

GSPC

Biogen (BIIB) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Biogen (BIIB) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Biogen (BIIB) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Total Return (1Y)	65.44%	24.62%
Total Return (3Y, Annualized)	4.62%	20.37%
Total Return (5Y, Annualized)	-0.96%	-4.02%

Risk Profile

Drawdown History

BIIB

GSPC

Biogen (BIIB) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Biogen (BIIB) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Volatility (1Y, Annualized)	34.58%	66.36%
Beta (5Y)	0.08	0.93
Max Drawdown (5Y)	-64.35%	-80.19%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. BIIB is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Sharpe Ratio (1Y)	1.77	0.36
Sortino Ratio (1Y)	2.77	0.58

Profitability

ROE (TTM)

Biogen (BIIB) posts ROE of 1.87%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.87%

Group distribution

Max: 109.18%
Q3: 6.23%
BIIB: 1.87%
Median: -26.66%
Q1: -64.05%
Min: -167.77%

Largest peers

LLY: 86.02%
NVS: 24.33%
AZN: 22.57%
JNJ: 20.02%
MRK: 5.06%
BIIB: 1.87%
ABBV: --

Where Biogen (BIIB) stands on ROE within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Biogen (BIIB) keeps 3.38% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.38%

Group distribution

Max: 18.05%
Q3: 4.78%
BIIB: 3.38%
Median: 0.00%
Q1: -4.14%
Min: -17.05%

Largest peers

LLY: 31.90%
AZN: 17.68%
NVS: 17.49%
JNJ: 16.20%
ABBV: 15.67%
MRK: 3.64%
BIIB: 3.38%

Where Biogen (BIIB) stands on net margin within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Biogen (BIIB) turns 24.12% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

24.12%

Group distribution

Max: 83.12%
BIIB: 24.12%
Q3: 14.77%
Median: 0.00%
Q1: -78.82%
Min: -207.40%

Largest peers

LLY: 53.66%
ABBV: 39.59%
MRK: 35.22%
NVS: 34.27%
AZN: 29.57%
JNJ: 25.74%
BIIB: 24.12%

Where Biogen (BIIB) stands on operating margin within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
ROE (TTM)	1.87%	-26.66%
ROA (TTM)	4.94%	-12.50%
Net Margin (TTM)	3.38%	0.00%
Operating Margin (TTM)	24.12%	0.00%
Gross Margin (TTM)	75.77%	37.87%

Growth

Revenue Growth

Biogen (BIIB) grew revenue 2.22%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Biogen (BIIB): Revenue Growth across different time periods, set against Pharmaceuticals, Biotechnology & Life Sciences industry-group medians.

EPS Growth

Biogen (BIIB) grew earnings per share -21.38%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Biogen (BIIB): EPS Growth across different time periods, set against Pharmaceuticals, Biotechnology & Life Sciences industry-group medians.

Growth Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Revenue Growth (YoY)	2.22%	11.45%
Revenue Growth (3Y CAGR)	-0.94%	9.94%
EPS Growth (YoY)	-21.38%	4.28%
EPS Growth (3Y CAGR)	-25.04%	4.17%

Financial Strength

Current Ratio (MRQ)

Biogen (BIIB) has current ratio of 1.95, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.95

Group distribution

Max: 25.13
Q3: 12.13
Median: 5.52
Q1: 2.47
BIIB: 1.95
Min: 0.10

Largest peers

BIIB: 1.95
LLY: 1.39
MRK: 1.35
JNJ: 1.02
AZN: 1.01
NVS: 0.88
ABBV: 0.87

Where Biogen (BIIB) stands on current ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Biogen (BIIB) has debt-to-equity ratio of 0.41, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.41

Group distribution

Max: 1.42
Q3: 0.65
BIIB: 0.41
Median: 0.15
Q1: 0.02
Min: 0.00

Largest peers

NVS: 1.29
LLY: 1.23
MRK: 1.20
AZN: 0.66
JNJ: 0.55
BIIB: 0.41
ABBV: --

Where Biogen (BIIB) stands on debt-to-equity ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Current Ratio (MRQ)	1.95	5.52
Debt / Equity (MRQ)	0.41	0.15
Net Debt / EBITDA	1.97	1.08

Dividends

Dividend Yield (TTM)

Biogen (BIIB) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Group distribution

BIIB: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

NVS: 2.88%
ABBV: 2.40%
MRK: 2.29%
JNJ: 1.94%
AZN: 1.73%
LLY: 0.49%
BIIB: 0.00%

Where Biogen (BIIB) stands on dividend yield within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Biogen (BIIB) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

0.00%

Group distribution

BIIB: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

MRK: 343.43%
ABBV: 117.35%
NVS: 90.46%
JNJ: 80.12%
AZN: 45.38%
LLY: 21.71%
BIIB: 0.00%

Where Biogen (BIIB) stands on payout ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Biogen (BIIB) trades at P/E ratio of 107.51, above the peer range for its industry. The market is paying unusually heavily for TTM earnings relative to comparable companies.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

107.51

Group distribution

BIIB: 107.51
Max: 85.34
Q3: 43.46
Median: 26.69
Q1: 13.30
Min: 0.07

Largest peers

MRK: 148.21
BIIB: 107.51
ABBV: 50.05
LLY: 43.95
JNJ: 41.92
NVS: 31.02
AZN: 26.37

Where Biogen (BIIB) stands on P/E ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Biogen (BIIB) trades at 3.57 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

3.57

Group distribution

Max: 58.18
Q3: 25.77
Median: 7.30
BIIB: 3.57
Q1: 3.01
Min: 0.01

Largest peers

LLY: 13.95
ABBV: 7.80
JNJ: 6.69
MRK: 5.37
NVS: 5.35
AZN: 4.63
BIIB: 3.57

Where Biogen (BIIB) stands on P/S ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Biogen (BIIB) trades at 1.94 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

BIIB

Pharmaceuticals, Biotechnology & Life Sciences industry group

1.94

Group distribution

Max: 13.53
Q3: 6.54
Median: 3.25
BIIB: 1.94
Q1: 1.69
Min: -5.59

Largest peers

LLY: 29.96
NVS: 8.25
JNJ: 8.16
MRK: 8.06
AZN: 5.59
BIIB: 1.94
ABBV: -112.34

Where Biogen (BIIB) stands on P/B ratio within its Pharmaceuticals, Biotechnology & Life Sciences peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Biogen (BIIB) metric values compared with Pharmaceuticals, Biotechnology & Life Sciences industry-group medians
Metric	Current stock: BIIB	Industry group median
P/E Ratio (TTM)	107.51	26.69
P/S Ratio (TTM)	3.57	7.30
P/B Ratio (MRQ)	1.94	3.25
Free Cash Flow Yield (TTM)	2.20%	-1.66%