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Biogen BIIB Q1 2026 earnings

Reported April 29, 2026 · Before market open

Revenue$2.5BBeat by $191.0MDiluted EPS$3.57Beat by $0.52
Revenue estimate$2.3B
EPS estimate$3.05

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$2.4B
EPS estimate$3.17

Financials

Q1 2026

Income statement

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Revenue$2.5B+1.9%
Gross profit$1.8B+0.8%
Net income$319.5M+32.8%
EPS (diluted)$2.15+31.1%

Balance sheet

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Cash & equivalents$3.4B+30.2%
Total debt$6.6B+34.7%
Total equity$18.7B+9.9%
Total assets$29.5B+5.2%

Cash flow

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Operating cash flow$645.5M+149%
CapEx$51.2M+38.0%
Free cash flow$594.3M+167%

Valuation & ratios

Valuation

as of 07/09/26
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Market cap$29.58B+34.3%
Enterprise value$32.76B+34.9%
P/E20.8×+5.9×
P/S3×+0.7×

Profitability

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Gross margin75.5%-0.1pp
Net margin14.3%-0.8pp
FCF margin24.4%-0.4pp

Returns & leverage

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Return on equity8%-1.2pp
Debt / equity0.4×+0.1×
Current ratio3.1×+1.6×

Segments

By product

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TYSABRI$441.5M+15.7%
SPINRAZA$374.0M-11.8%
VUMERITY$179.0M+29.0%
AVONEX$163.2M-2.2%
SKYCLARYS$150.7M+21.6%

By segment

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Reportable Segment$2.5B+1.9%

Versus estimates

Revenue

Q1 2026$2.5BBeat by $191.0M
Q4 2025$2.3BBeat by $76.7MQ3 2025$2.5BBeat by $114.8MQ2 2025$2.6BBeat by $317.3MQ1 2025$2.4BBeat by $196.8MQ4 2024$2.5BBeat by $46.4M

Diluted EPS

Q1 2026$3.57Beat by $0.52
Q4 2025$1.99Beat by $0.36Q3 2025$4.81Beat by $0.93Q2 2025$5.47Beat by $1.57Q1 2025$3.02Beat by $0.12Q4 2024$3.44Beat by $0.01

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Questions, answered.

When did Biogen report Q1 2026 earnings?
Biogen (BIIB) reported Q1 2026 earnings on April 29, 2026 before market open.
What were Biogen's Q1 2026 revenue and EPS?
Biogen reported revenue of $2.5B and diluted EPS of $3.57 for Q1 2026.
Did Biogen beat estimates in Q1 2026?
Revenue beat the consensus estimate of $2.3B by $191.0M. EPS beat the consensus estimate of $3.05 by $0.52.
How did Biogen's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 1.9% from $2.4B a year earlier and diluted EPS grew 18.2% from $3.02.
Where can I find Biogen's Q1 2026 SEC filings?
You can read the 8-K earnings release (0000875045-26-000042) and the 10-Q periodic report (0000875045-26-000045) directly on SEC EDGAR. The filing index links above go to sec.gov.