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Biogen BIIB Q2 2025 earnings

Reported July 31, 2025 · Before market open

Revenue$2.6BBeat by $317.3M
EPS$5.47Beat by $1.57
Revenue estimate$2.3B
EPS estimate$3.90

Next report

Oct 29, 2026 (in 2 months)
Revenue estimate$2.6B
EPS estimate$2.04

Financials

Q2 2025

Income statement

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Revenue$2.6B+7.3%
Gross profit$2.0B+6.3%
Net income$634.8M+8.8%
EPS (diluted)$4.33+8.3%

Balance sheet

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Cash & equivalents$2.8B+44.5%
Total debt$6.6B-1.0%
Total equity$17.6B+11.0%
Total assets$28.3B+5.7%

Cash flow

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Operating cash flow$160.9M-74.3%
CapEx$26.6M-20.6%
Free cash flow$134.3M-77.3%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$18.51B-45.2%
Enterprise value$22.34B-42.0%
P/E12.1×-17.0×
P/S1.9×-1.6×

Profitability

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Gross margin75.4%-0.1pp
Net margin15.3%+3.3pp
FCF margin19.8%+3.1pp

Returns & leverage

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Return on equity9.1%+1.5pp
Debt / equity0.4×0.0×
Current ratio2.5×+0.2×

Segments

By product

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TYSABRI$454.6M-1.6%
SPINRAZA$392.7M-8.5%
VUMERITY$212.3M+28.0%
TECFIDERA$193.6M-23.2%
AVONEX$177.7M-2.8%

By segment

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Reportable Segment$2.6B+7.3%

FAQ

When did Biogen report Q2 2025 earnings?
Biogen (BIIB) reported Q2 2025 earnings on July 31, 2025 before market open.
What were Biogen's Q2 2025 revenue and EPS?
Biogen reported revenue of $2.6B and eps of $5.47 for Q2 2025.
Did Biogen beat estimates in Q2 2025?
Revenue beat the consensus estimate of $2.3B by $317.3M. EPS beat the consensus estimate of $3.90 by $1.57.
How did Biogen's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 12.4% from $2.4B a year earlier and eps grew 3.6% from $5.28.
Where can I find Biogen's Q2 2025 SEC filings?
You can read the 8-K earnings release (0000875045-25-000035) and the 10-Q periodic report (0000875045-25-000033) directly on SEC EDGAR. The filing index links above go to sec.gov.