Free cash flow
Biogen Free cash flow increased by 27.0% to $594.30M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 167.5%, from $222.20M to $594.30M. Over 3 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a -15.4% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests improved operational efficiency or reduced capital intensity, providing more flexibility for capital allocation. A decrease may indicate higher investment in R&D or infrastructure, or potential challenges in converting earnings into cash.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
Large-cap medical device and pharmaceutical peers typically maintain strong, positive free cash flow, though levels vary based on the intensity of R&D spending and the lifecycle stage of major product lines.
free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.16B | $763.30M | $786.70M | $103.90M | $699.60M | $601.90M | $388.70M | $416.00M | $518.20M | $0.00 | $507.30M | $592.30M | $900.60M | $721.60M | $222.20M | $134.30M | $1.23B | $468.00M | $594.30M |
| QoQ Change | — | -33.9% | +3.1% | -86.8% | +573.3% | -14.0% | -35.4% | +7.0% | +24.6% | -100.0% | — | +16.8% | +52.1% | -19.9% | -69.2% | -39.6% | +813.1% | -61.8% | +27.0% |
| YoY Change | — | — | — | — | -39.4% | -21.1% | +274.1% | -40.5% | -13.9% | — | +30.5% | +42.4% | +73.8% | — | -56.2% | -77.3% | +36.2% | -35.1% | +167.5% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Biogen's free cash flow?
- Biogen (BIIB) reported free cash flow of $594.30M in Q1 2026.
- How has Biogen's free cash flow changed year-over-year?
- Biogen's free cash flow increased by 167.5% year-over-year, from $222.20M to $594.30M.
- What is the long-term trend for Biogen's free cash flow?
- Over 3 years (2021 to 2025), Biogen's free cash flow has grown at a -15.4% compound annual growth rate (CAGR), from $3.38B to $2.05B.
- What does free cash flow mean?
- The cash remaining after a company pays for its operating expenses and capital investments.