Biogen (BIIB)
NASDAQHealth CareDrug Manufacturers - GeneralSnapshot 2026-11-05
$243.93-4.14%
Close 2026-11-05 · 1-day change
NASDAQHealth CareDrug Manufacturers - GeneralSnapshot 2026-11-05
QuarterlyIQ Insights · BIIB
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within health care on a research-validated quality screen. As of 2026-11-05.
The screen ranks BIIB against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 3 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated strong grew net income 53% of the time over the next year (vs 42% for the rest of the cohort, n=10089).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Met or beat guidance 100% of the last 1 guided quarters · 57.9% avg surprise
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
We’re seeing the strength of our Growth Portfolio – including the first full quarter of results from Apellis products – which helped drive double-digit revenue growth and an approximately 50% year-ov…
Stated in 8 of 8 supplied quarters. Management reported: “A reconciliation of GAAP to Non-GAAP financial measures can be found in Table 4 at the end of this news release.” “3 Full Year 2026 Financial Guidance Biogen is raising the lower end of the reported full year 2026 Non-GAAP diluted EPS guidance range to reflect ongoing business strength and Apellis dilution favorability.”
“We’re seeing the strength of our Growth Portfolio – including the first full quarter of results from Apellis products – which helped drive double-digit revenue growth and an approximately 50% year-ov…”
“Not only did our growth portfolio revenue exceed that of our legacy MS portfolio, delivering 24% of year-over-year growth, we also delivered strong revenue performance from our two recently acquired…”
“– April 29, 2026 Biogen reports strong first quarter 2026 results First quarter 2026 total revenue of $2.5 billion, increased 2% year-over-year; GAAP diluted EPS of $2.15, increased 31% year-over-yea…”
“– February 6, 2026 Biogen reports strong fourth quarter and full year 2025 results and provides full year 2026 financial guidance Fourth quarter 2025 total revenue $2.3 billion; GAAP diluted EPS $(0.…”
“– October 30, 2025 Biogen reports strong third quarter 2025 results and updates full year 2025 guidance Third quarter 2025 total revenue of $2.5 billion, increased 3% year-over-year; GAAP diluted EPS…”
“Our performance reflects robust financial results, ongoing cost discipline, continued growth of our launch products, and meaningful strides expanding and advancing our late-stage pipeline.”
Viehbacher. “With multiple Phase 3 readouts expected over the next 12 months, we are positioned to further strengthen our long-term growth profile and create sustainable value for patients and shareh…
Stated in 8 of 8 supplied quarters. Management reported: “The Company is advancing multiple potential growth drivers with registrational readouts expected over the next 12 months • The Company expects to announce top line data from both TOPAZ-1 and TOPAZ-2 Phase 3 studies, evaluating litifilimab in SLE, in the first half of December 2026.” “• Additional Phase 3 readouts expected for litifilimab in CLE, felzartamab in antibody mediated rejection in the first half of 2027 and zorevunersen in Dravet syndrome in the third quarter of 2027.”
Biogen expects combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be approximately $4.95 billion for the full year 2026.
Stated in 8 of 8 supplied quarters. Management reported: “Biogen expects combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be approximately $4.95 billion for the full year 2026.” “Transaction run rate synergies exiting 2027 are expected to be at least $250 million.”
“Biogen expects combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be approximately $4.95 billion for the full year 2026.”
We’re seeing the strength of our Growth Portfolio – including the first full quarter of results from Apellis products – which helped drive double-digit revenue growth and an approximately 50% year-ov…
Stated in 3 of 8 supplied quarters. Management reported: “A reconciliation of GAAP to Non-GAAP financial measures can be found in Table 4 at the end of this news release.” “With the integration progressing well, Biogen expects approximately $0.85 dilution to Non-GAAP diluted EPS for full year 2026, driven largely by lower interest income and higher interest expense associated with the transaction financing, and remains on track for the transaction to be accretive to Non-GAAP diluted EPS in 2027.”
Achieve the stated cost savings through the Fit for Growth program while funding selected growth investments.
Over the trailing year it converted 1.22x of net income into operating cash flow. Historically, Health Care names rated neutral grew net income 52% of the time over the next year (vs 44% for the rest of the cohort, n=3371).
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity (low R² over the window).
9 material management or governance events in the past 24 months, led by executive changes. Historically, Health Care names rated neutral grew net income 46% of the time over the next year (vs 44% for the rest of the cohort, n=13229).
Not investment advice. As of 2026-11-05.
“– May 1, 2025 Biogen reports strong first quarter 2025 results First quarter 2025 total revenue $2.4 billion, increased 6% year-over-year; GAAP diluted EPS $1.64; Non-GAAP diluted EPS $3.02 • Product…”
“– Feb. 12, 2025 Biogen reports fourth quarter and full year 2024 results and provides full year 2025 financial guidance Fourth quarter 2024 total revenue $2.5 billion, 3% growth YoY; GAAP diluted EPS…”
“Viehbacher. “With multiple Phase 3 readouts expected over the next 12 months, we are positioned to further strengthen our long-term growth profile and create sustainable value for patients and shareh…”
“As we enter a period of registrational data readouts beginning this year, we are realizing our vision for the New Biogen — one positioned for sustainable growth with a growing commercial business, a…”
“– April 29, 2026 Biogen reports strong first quarter 2026 results First quarter 2026 total revenue of $2.5 billion, increased 2% year-over-year; GAAP diluted EPS of $2.15, increased 31% year-over-yea…”
“– February 6, 2026 Biogen reports strong fourth quarter and full year 2025 results and provides full year 2026 financial guidance Fourth quarter 2025 total revenue $2.3 billion; GAAP diluted EPS $(0.…”
“– October 30, 2025 Biogen reports strong third quarter 2025 results and updates full year 2025 guidance Third quarter 2025 total revenue of $2.5 billion, increased 3% year-over-year; GAAP diluted EPS…”
“Our performance reflects robust financial results, ongoing cost discipline, continued growth of our launch products, and meaningful strides expanding and advancing our late-stage pipeline.”
“and Brazil Advanced key development programs, supporting a late-stage pipeline with multi-billion dollar potential • Zorevunersen agreement with Stoke broadens Biogen’s rare disease pipeline and leve…”
“– Feb. 12, 2025 Biogen reports fourth quarter and full year 2024 results and provides full year 2025 financial guidance Fourth quarter 2024 total revenue $2.5 billion, 3% growth YoY; GAAP diluted EPS…”
“Biogen expects combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be between $2.65 billion and $2.70 billion for the second half of 2026.”
“Full Year 2026 Financial Guidance Biogen is updating its guidance for full year 2026 to reflect an approximately $1.00 impact from acquired IPR&D charges resulting from ongoing business development a…”
“For full year 2026 as compared to full year 2025, Biogen expects the gross margin percentage, and combined Non-GAAP R&D expense and Non-GAAP SG&A expense to be roughly consistent year-over-year.”
“The Fit for Growth program is expected to generate approximately $1 billion of gross savings and $800 million net of reinvestment by the end of 2025.”
“The Fit for Growth program is expected to generate approximately $1 billion of gross savings and $800 million net of reinvestment by the end of 2025.”
“The Fit for Growth program is expected to generate approximately $1 billion of gross savings and $800 million net of reinvestment by the end of 2025.”
“The Fit for Growth program is expected to generate approximately $1 billion of gross savings and $800 million net of reinvestment by the end of 2025.”
“We’re seeing the strength of our Growth Portfolio – including the first full quarter of results from Apellis products – which helped drive double-digit revenue growth and an approximately 50% year-ov…”
“With the integration progressing well, Biogen expects approximately $0.85 dilution to Non-GAAP diluted EPS for full year 2026, driven largely by lower interest income and higher interest expense asso…”
“Proposed acquisition of Apellis Pharmaceuticals bolsters growth outlook, adding commercialized medicines in immune-mediated retinal disease and nephrology, and deepening the foundation for Biogen's g…”