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Biogen

SNSE:BIIB
Snowflake Description

Outstanding track record with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BIIB
SNSE
$51B
Market Cap
  1. Home
  2. CL
  3. Pharmaceuticals & Biotech
Company description

Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The last earnings update was 30 days ago. More info.


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BIIB Share Price and Events
7 Day Returns
0%
SNSE:BIIB
2.6%
Global Biotechs
7.6%
CL Market
1 Year Returns
-29%
SNSE:BIIB
11.2%
Global Biotechs
-10.8%
CL Market
BIIB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Biogen (BIIB) 0% 0% -1.7% -29% -25.5% -25.5%
Global Biotechs 2.6% 9.4% 8.5% 11.2% 19.8% 13.8%
CL Market 7.6% -4.7% -2.4% -10.8% 4.1% 0.2%
1 Year Return vs Industry and Market
  • BIIB underperformed the Biotechs industry which returned 11.2% over the past year.
  • BIIB underperformed the Market in Chile which returned -10.8% over the past year.
Price Volatility
BIIB
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Biogen undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Biogen to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Biogen.

SNSE:BIIB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 29 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year CL Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SNSE:BIIB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CL Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.287 (1 + (1- 21%) (12.49%))
1.277
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.28
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.277 * 5.96%)
10.34%

Discounted Cash Flow Calculation for SNSE:BIIB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Biogen is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SNSE:BIIB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.34%)
2020 5,642.52 Analyst x10 5,113.60
2021 5,394.97 Analyst x9 4,430.94
2022 5,372.56 Analyst x7 3,998.90
2023 5,385.29 Analyst x7 3,632.64
2024 5,374.42 Est @ -0.2% 3,285.47
2025 5,410.84 Est @ 0.68% 2,997.67
2026 5,480.82 Est @ 1.29% 2,751.81
2027 5,575.33 Est @ 1.72% 2,536.86
2028 5,688.29 Est @ 2.03% 2,345.64
2029 5,815.55 Est @ 2.24% 2,173.32
Present value of next 10 years cash flows $33,266.00
SNSE:BIIB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $5,815.55 × (1 + 2.73%) ÷ (10.34% – 2.73%)
$78,470.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $78,470.22 ÷ (1 + 10.34%)10
$29,325.00
SNSE:BIIB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $33,266.00 + $29,325.00
$62,591.00
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $62,591.00 / 180.44
$346.88
SNSE:BIIB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in SNSE:BIIB represents 0.84352x of NasdaqGS:BIIB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.84352x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 346.88 x 0.84352
$292.60
Value per share (USD) From above. $292.60
Current discount Discount to share price of $240.74
= -1 x ($240.74 - $292.60) / $292.60
17.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Biogen is available for.
Intrinsic value
18%
Share price is $240.74 vs Future cash flow value of $292.6
Current Discount Checks
For Biogen to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Biogen's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Biogen's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Biogen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Biogen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SNSE:BIIB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in USD $28.00
NasdaqGS:BIIB Share Price ** NasdaqGS (2019-11-20) in USD $285.4
Global Biotechs Industry PE Ratio Median Figure of 146 Publicly-Listed Biotechs Companies 30.47x
Chile Market PE Ratio Median Figure of 133 Publicly-Listed Companies 13.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Biogen.

SNSE:BIIB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:BIIB Share Price ÷ EPS (both in USD)

= 285.4 ÷ 28.00

10.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Biogen is good value based on earnings compared to the Global Biotechs industry average.
  • Biogen is good value based on earnings compared to the Chile market.
Price based on expected Growth
Does Biogen's expected growth come at a high price?
Raw Data
SNSE:BIIB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts
-0.9%per year
Global Biotechs Industry PEG Ratio Median Figure of 85 Publicly-Listed Biotechs Companies 1.43x
Chile Market PEG Ratio Median Figure of 29 Publicly-Listed Companies 1.08x

*Line of best fit is calculated by linear regression .

SNSE:BIIB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.19x ÷ -0.9%

-11.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Biogen earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Biogen's assets?
Raw Data
SNSE:BIIB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in USD $76.94
NasdaqGS:BIIB Share Price * NasdaqGS (2019-11-20) in USD $285.4
Global Biotechs Industry PB Ratio Median Figure of 846 Publicly-Listed Biotechs Companies 3.13x
Chile Market PB Ratio Median Figure of 161 Publicly-Listed Companies 1.01x
SNSE:BIIB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:BIIB Share Price ÷ Book Value per Share (both in USD)

= 285.4 ÷ 76.94

3.71x

* Primary Listing of Biogen.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Biogen is overvalued based on assets compared to the Global Biotechs industry average.
X
Value checks
We assess Biogen's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Biogen has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Biogen expected to perform in the next 1 to 3 years based on estimates from 29 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Biogen expected to grow at an attractive rate?
  • Biogen's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Biogen's earnings are expected to decrease over the next 1-3 years, this is below the Chile market average.
  • Biogen's revenues are expected to decrease over the next 1-3 years, this is below the Chile market average.
Annual Growth Rates Comparison
Raw Data
SNSE:BIIB Future Growth Rates Data Sources
Data Point Source Value (per year)
SNSE:BIIB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts -0.9%
SNSE:BIIB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 29 Analysts -0.1%
Global Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 21.9%
Global Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 18.7%
Chile Market Earnings Growth Rate Market Cap Weighted Average 14.5%
Chile Market Revenue Growth Rate Market Cap Weighted Average 5.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SNSE:BIIB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SNSE:BIIB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 14,244 6,525 5,630 16
2022-12-31 14,097 6,288 5,464 18
2021-12-31 13,896 6,909 5,376 24
2020-12-31 14,057 6,033 5,536 29
2019-12-31 14,228 6,487 5,797 29
2019-11-21
SNSE:BIIB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-30 14,233 7,014 5,396
2019-06-30 14,072 7,055 5,294
2019-03-31 13,812 6,190 4,667
2018-12-31 13,453 6,188 4,431
2018-09-30 13,234 5,811 3,187
2018-06-30 12,872 5,703 2,968
2018-03-31 12,594 5,773 2,964
2017-12-31 12,274 4,551 2,539
2017-09-30 11,839 4,615 3,486
2017-06-30 11,717 3,978 3,293
2017-03-31 11,533 3,807 3,480
2016-12-31 11,449 4,587 3,703

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Biogen's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Biogen's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SNSE:BIIB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below

All data from Biogen Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SNSE:BIIB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 31.01 39.25 23.22 11.00
2022-12-31 30.73 36.56 27.90 12.00
2021-12-31 29.89 35.13 26.87 12.00
2020-12-31 30.34 38.14 24.35 15.00
2019-12-31 30.70 32.87 29.72 15.00
2019-11-21
SNSE:BIIB Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-30 28.00
2019-06-30 26.87
2019-03-31 23.19
2018-12-31 21.62
2018-09-30 15.33
2018-06-30 14.11
2018-03-31 14.01
2017-12-31 11.94
2017-09-30 16.30
2017-06-30 15.26
2017-03-31 15.99
2016-12-31 16.95

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Biogen is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Biogen's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Global market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Global market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Biogen has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Biogen performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Biogen's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Biogen's year on year earnings growth rate has been positive over the past 5 years.
  • Biogen's 1-year earnings growth exceeds its 5-year average (69.3% vs 7.8%)
  • Biogen's earnings growth has exceeded the Global Biotechs industry average in the past year (69.3% vs 13.5%).
Earnings and Revenue History
Biogen's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Biogen Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SNSE:BIIB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 14,232.90 5,395.60 2,264.90 2,187.20
2019-06-30 14,071.80 5,294.10 2,206.30 2,156.50
2019-03-31 13,811.60 4,666.60 2,164.90 2,663.90
2018-12-31 13,452.90 4,430.70 2,098.20 2,597.20
2018-09-30 13,233.60 3,186.50 2,070.00 2,573.20
2018-06-30 12,872.40 2,968.20 2,006.90 2,511.70
2018-03-31 12,594.30 2,964.40 1,920.50 2,326.90
2017-12-31 12,273.90 2,539.10 1,917.90 2,253.60
2017-09-30 11,838.90 3,485.70 1,858.60 2,199.90
2017-06-30 11,716.90 3,292.50 1,886.70 2,282.50
2017-03-31 11,532.70 3,479.50 1,949.30 1,959.40
2016-12-31 11,448.80 3,702.80 1,949.90 1,973.30
2016-09-30 11,416.10 3,885.20 2,035.40 1,981.10
2016-06-30 11,238.20 3,817.90 2,050.50 1,971.90
2016-03-31 10,935.70 3,695.40 2,050.00 1,989.60
2015-12-31 10,763.80 3,547.00 2,113.10 2,012.80
2015-09-30 10,565.15 3,598.88 2,103.67 1,971.17
2015-06-30 10,298.70 3,490.14 2,196.30 1,868.54
2015-03-31 10,128.45 3,277.34 2,281.03 1,825.02
2014-12-31 9,703.30 2,934.80 2,232.30 1,893.40
2014-09-30 9,028.20 2,508.63 2,154.39 1,815.56
2014-06-30 8,344.03 2,139.38 1,989.54 1,808.41
2014-03-31 7,644.75 1,915.55 1,843.93 1,688.60
2013-12-31 6,932.20 1,862.30 1,712.10 1,444.10
2013-09-30 6,382.49 1,697.16 1,565.17 1,367.00
2013-06-30 5,940.76 1,607.95 1,459.22 1,261.20
2013-03-31 5,639.54 1,504.12 1,329.97 1,263.30
2012-12-31 5,514.86 1,380.03 1,277.47 1,334.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Biogen has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Biogen used its assets more efficiently than the Global Biotechs industry average last year based on Return on Assets.
  • Biogen has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Biogen's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Biogen has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Biogen's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Biogen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Biogen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Biogen's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Biogen's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Biogen Company Filings, last reported 1 month ago.

SNSE:BIIB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 13,991.80 5,953.50 4,437.40
2019-06-30 12,948.80 5,948.50 3,116.40
2019-03-31 13,822.00 5,943.20 3,909.00
2018-12-31 13,031.60 5,936.50 3,538.00
2018-09-30 13,759.80 5,931.10 4,428.40
2018-06-30 12,253.70 5,928.40 3,224.20
2018-03-31 14,037.50 5,932.70 5,916.00
2017-12-31 12,598.10 5,938.20 3,689.00
2017-09-30 12,848.90 6,511.50 3,508.30
2017-06-30 11,573.60 6,513.90 2,893.00
2017-03-31 11,467.40 6,514.20 2,880.20
2016-12-31 12,128.60 6,517.40 4,895.10
2016-09-30 12,114.80 6,534.50 4,316.00
2016-06-30 11,403.70 6,543.10 3,796.80
2016-03-31 10,328.10 6,540.50 3,585.40
2015-12-31 9,374.90 6,526.30 3,428.50
2015-09-30 10,566.94 6,534.45 5,842.50
2015-06-30 12,573.00 579.47 2,368.67
2015-03-31 11,669.46 583.93 2,152.00
2014-12-31 10,814.00 583.40 1,845.40
2014-09-30 10,430.89 587.20 1,861.35
2014-06-30 9,565.23 589.48 1,573.07
2014-03-31 9,141.06 594.56 1,260.21
2013-12-31 8,620.84 595.93 1,222.73
2013-09-30 8,125.69 698.28 668.69
2013-06-30 7,902.15 729.58 667.67
2013-03-31 7,339.61 915.15 663.30
2012-12-31 6,963.80 1,140.78 1,705.71
  • Biogen's level of debt (42.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (5.6% vs 42.5% today).
  • Debt is well covered by operating cash flow (117.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 105.4x coverage).
X
Financial health checks
We assess Biogen's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Biogen has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Biogen's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Biogen dividends. Estimated to be 0% next year.
If you bought $2,000 of Biogen shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Biogen's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Biogen's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SNSE:BIIB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 59 Stocks 2.1%
Chile Market Average Dividend Yield Market Cap Weighted Average of 133 Stocks 4.1%
Chile Minimum Threshold Dividend Yield 10th Percentile 0.9%
Chile Bottom 25% Dividend Yield 25th Percentile 2.1%
Chile Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SNSE:BIIB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 4.00
2020-12-31 0.00 5.00
2019-12-31 0.00 5.00
2019-11-21

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Biogen has not reported any payouts.
  • Unable to verify if Biogen's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Biogen's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Biogen has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Biogen's dividends in 3 years as they are not expected to pay a notable one for Chile.
X
Income/ dividend checks
We assess Biogen's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Biogen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Biogen has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Biogen's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michel Vounatsos
COMPENSATION $16,168,646
AGE 57
TENURE AS CEO 2.8 years
CEO Bio

Mr. Michel Vounatsos has been the Chief Executive Officer of Biogen Inc. since January 6, 2017. Mr. Vounatsos served as the Chief Commercial Officer and Executive Vice President of Biogen Inc. since April 18, 2016 until December 2016. He is a sophisticated global business leader who has a track record of commercial success and creativity. He joined Biogen after a 20 year career at Merck, where he various positions including served as president, Primary Care Business Line and Merck Customer Centricity. Prior to this role, he held leadership positions at Merck across Europe and in China. He has been Director of Biogen Inc. since January 6, 2017. Prior to that, Mr. Vounatsos held management positions at Ciba-Geigy. Mr. Vounatsos attended the Universite Victor Segalen, Bordeaux II, in France, receiving his C.S.C.T. certificate in Medicine. He received his M.B.A. from the HEC School of Management in Paris.

CEO Compensation
  • Michel's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Insufficient data for Michel to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Biogen management team in years:

1.9
Average Tenure
54.5
Average Age
  • The average tenure for the Biogen management team is less than 2 years, this suggests a new team.
Management Team

Michel Vounatsos

TITLE
CEO & Director
COMPENSATION
$16M
AGE
57
TENURE
2.8 yrs

Jeff Capello

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
54
TENURE
1.9 yrs

Susan Alexander

TITLE
Executive VP
COMPENSATION
$6M
AGE
62
TENURE
2.7 yrs

Robin Kramer

TITLE
VP & Chief Accounting Officer
AGE
53
TENURE
1 yrs

Mark Hernon

TITLE
Senior VP & Chief Information Officer
AGE
55
TENURE
1.9 yrs

Joe Mara

TITLE
VP of Finance and Head of Investor Relations

Daniel Karp

TITLE
Executive Vice President of Corporate Development
AGE
41
TENURE
1.4 yrs

Ginger Gregory

TITLE
Executive VP & Chief Human Resources Officer
AGE
51
TENURE
2.3 yrs

Alphonse Galdes

TITLE
Executive Vice President of Pharmaceutical Operations & Technology
TENURE
0.1 yrs

Al Sandrock

TITLE
Executive VP of Research & Development and Chief Medical Officer
COMPENSATION
$8M
AGE
61
TENURE
7.8 yrs
Board of Directors Tenure

Average tenure and age of the Biogen board of directors in years:

10.4
Average Tenure
63
Average Age
  • The average tenure for the Biogen board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Stelios Papadopoulos

TITLE
Independent Chairman of the Board
COMPENSATION
$613K
AGE
71
TENURE
5.4 yrs

Michel Vounatsos

TITLE
CEO & Director
COMPENSATION
$16M
AGE
57
TENURE
2.8 yrs

Robert Pangia

TITLE
Independent Director
COMPENSATION
$483K
AGE
69
TENURE
22.2 yrs

Alex Denner

TITLE
Independent Director
COMPENSATION
$413K
AGE
50
TENURE
10.4 yrs

Caroline Dorsa

TITLE
Independent Director
COMPENSATION
$412K
AGE
60
TENURE
9.8 yrs

Lynn Schenk

TITLE
Independent Director
COMPENSATION
$428K
AGE
74
TENURE
24.5 yrs

Nancy Leaming

TITLE
Independent Director
COMPENSATION
$400K
AGE
71
TENURE
11.8 yrs

Richard Mulligan

TITLE
Independent Director
COMPENSATION
$408K
AGE
64
TENURE
10.4 yrs

Brian Posner

TITLE
Independent Director
COMPENSATION
$452K
AGE
58
TENURE
11.3 yrs

Eric Rowinsky

TITLE
Independent Director
COMPENSATION
$408K
AGE
62
TENURE
9.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. May 19 Buy Sarissa Capital Management Company 30. Apr 19 02. May 19 118,342 $231.24 $27,211,824
02. May 19 Buy Michel Vounatsos Individual 01. May 19 01. May 19 4,351 $231.48 $1,007,169
01. Feb 19 Buy Sarissa Capital Management Company 30. Jan 19 01. Feb 19 62,800 $330.52 $20,572,406
X
Management checks
We assess Biogen's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Biogen has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis. It also provides BENEPALI, an etanercept biosimilar referencing ENBREL; FLIXABI, an infliximab biosimilar referencing REMICADE; and IMRALDI, an adalimumab biosimilar referencing HUMIRA. In addition, the company offers RITUXAN for the treatment of non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; and OCREVUS for the treatment of primary progressive MS and relapsing MS, and other anti-CD20 therapies. Further, it is involved in developing BIIB098, Opicinumab, and BIIB061 for MS and neuroimmunology; Aducanumab, Elenbecestat, BAN2401, BIIB092, BIIB076, and BIIB080 to treat Alzheimer's disease and dementia; BIIB092 and BIIB054 for treating Parkinson's disease and movement disorders; BIIB067, BIIB078, and BIIB110 to treat neuromuscular disorders; BIIB093, TMS-007, and Natalizumab to treat acute neurology; BIIB104 for treating neurocognitive disorders; BIIB074 and BIIB095 for pain; and Dapirolzumab pegol, BG00011, and BIIB059 for treating other diseases, which are under various stages of development. The company offers products through its sales force and marketing groups. Biogen Inc. has collaboration agreements with Genentech, Inc., Eisai Co., Ltd., Alkermes Pharma Ireland Limited, Bristol-Myers Squibb Company, Acorda Therapeutics, Inc., AbbVie Inc., C4 Therapeutics, University of Pennsylvania, Applied Genetic Technologies Corporation, and others. The company was founded in 1978 and is headquartered in Cambridge, Massachusetts.

Details
Name: Biogen Inc.
BIIB
Exchange: SNSE
Founded: 1978
$51,498,111,981
180,441,878
Website: http://www.biogen.com
Address: Biogen Inc.
225 Binney Street,
Cambridge,
Massachusetts, 02142,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS BIIB Common Stock Nasdaq Global Select US USD 17. Sep 1991
DB IDP Common Stock Deutsche Boerse AG DE EUR 17. Sep 1991
XTRA IDP Common Stock XETRA Trading Platform DE EUR 17. Sep 1991
SWX BIIB Common Stock SIX Swiss Exchange CH CHF 17. Sep 1991
WBAG BIIB Common Stock Wiener Boerse AG AT EUR 17. Sep 1991
SNSE BIIB Common Stock Santiago Stock Exchange CL USD 17. Sep 1991
BMV BIIB * Common Stock Bolsa Mexicana de Valores MX MXN 17. Sep 1991
BASE BIIB CEDEAR EACH 13 REP 1 COM USD0.0005 Buenos Aires Stock Exchange AR ARS 12. Apr 2019
BOVESPA BIIB34 BDR EACH REPR 1/6 COM USD0.0005 Bolsa de Valores de Sao Paulo BR BRL 25. Apr 2016
Number of employees
Current staff
Staff numbers
7,800
Biogen employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/21 18:08
End of day share price update: 2019/11/20 00:00
Last estimates confirmation: 2019/11/21
Last earnings filing: 2019/10/22
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.