Biogen Inc.

Biogen Inc.

BIIBยทNASDAQ

$195.96

+3.8%
HealthcareDrug Manufacturers - General

Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis. It also provides BENEPALI, an etanercept biosimilar referencing ENBREL; ADUHELM for the treatment of Alzheimer's disease; IMRALDI, an adalimumab biosimilar referencing HUMIRA; and FLIXABI, an infliximab biosimilar referencing REMICADE. In addition, the company offers RITUXAN for treating 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 treating relapsing MS and primary progressive MS; and other anti-CD20 therapies. Further, it develops BIIB135, BIIB061, BIIB091, and BIIB107 for MS and neuroimmunology; Aducanumab, Lecanemab, BIIB076, and BIIB080 to treat Alzheimer's disease and dementia; BIIB067, BIIB078, BIIB105, BIIB100, and BIIB110 to treat neuromuscular disorders; BIIB124, BIIB094, BIIB118, BIIB101, and BIIB122 for treating Parkinson's disease and movement disorders; BIIB125 and BIIB104 for treating neuropsychiatry; Dapirolizumab pegol and BIIB059 to treat immunology related diseases; BIIB093 and BIIB131 to treat acute neurology; BIIB074 for neuropathic pain; and BYOOVIZ, BIIB800, and SB15 biosimilars, which are under various stages of development. The company has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis Co., Ltd.; Sangamo Therapeutics, Inc.; and Sage Therapeutics, Inc. Biogen Inc. was founded in 1978 and is headquartered in Cambridge, Massachusetts.

At a Glance

Live Snapshot
Market Cap$28.93B
EPS8.8500
P/E Ratio22.14
Earnings Date07/30/2026
Biogen Inc.

Biogen Inc. Fair Value Envelope

BIIB ยท NASDAQ

Our analysis suggests that BIIB has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $195.96, this represents a potential HIDDEN relative to our calculated worth for Biogen Inc..

Intrinsic Value
Current Price: $195.96

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

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Projection Settings

Forecast period and terminal assumptions

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DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value$8.5B
+ Cash & Equivalents$3.0B
Firm Value$11.5B
- Debt$6.9B
Equity Value$4.6B
/ Shares Outstanding146,702,272B
DCF Value$31
OVERVALUED BY 84%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
$1.8B
$1.5B
$1.2B
$973.6M
$793.7M
$647.0M
$527.4M
$430.0M
$350.5M
$285.7M
Maintenance CapEx
-$25.1M
-$20.4M
-$16.7M
-$13.6M
-$11.1M
-$9.0M
-$7.4M
-$6.0M
-$4.9M
-$4.0M
Owner Earnings
$1.8B
$1.4B
$1.2B
$960.0M
$782.6M
$638.0M
$520.1M
$424.0M
$345.6M
$281.8M
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
$1.6B
$1.2B
$934.9M
$705.7M
$532.6M
$402.0M
$303.5M
$229.1M
$172.9M
$130.5M
Terminal Value represents 26.1% of Enterprise Value