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Biogen BIIB Q4 2025 Annual earnings

Reported February 6, 2026 · Before market open

Revenue$2.3BBeat by $76.7M
EPS$1.99Beat by $0.36
Revenue estimate$2.2B
EPS estimate$1.63

Next report

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

Financials

Q4 2025

Income statement

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Revenue$2.3B-7.1%
Gross profit$1.8B-4.7%
Net income--100%
EPS (diluted)$0.00-100%

Balance sheet

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Cash & equivalents$3.0B+26.7%
Total debt$6.7B-0.9%
Total equity$18.3B+9.2%
Total assets$29.4B+5.0%

Cash flow

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Operating cash flow$511.9M-32.7%
CapEx$43.9M+11.7%
Free cash flow$468.0M-35.1%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$25.82B+15.9%
Enterprise value$29.47B+10.7%
P/E19.2×+5.6×
P/S2.6×+0.3×

Profitability

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Gross margin75.7%-0.4pp
Net margin13.6%-3.3pp
FCF margin20.7%-7.4pp

Returns & leverage

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Return on equity7.7%-2.7pp
Debt / equity0.4×0.0×
Current ratio2.7×+1.3×

Segments

By product

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TYSABRI$397.5M-4.3%
SPINRAZA$356.2M-15.5%
VUMERITY$181.1M+2.5%
AVONEX$162.5M-4.4%
SKYCLARYS$133.4M+30.5%

By segment

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Reportable Segment$2.3B-7.1%

FAQ

When did Biogen report Q4 2025 earnings?
Biogen (BIIB) reported Q4 2025 earnings on February 6, 2026 before market open.
What were Biogen's Q4 2025 revenue and EPS?
Biogen reported revenue of $2.3B and eps of $1.99 for Q4 2025.
Did Biogen beat estimates in Q4 2025?
Revenue beat the consensus estimate of $2.2B by $76.7M. EPS beat the consensus estimate of $1.63 by $0.36.
How did Biogen's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 7.1% from $2.5B a year earlier and eps declined 42.2% from $3.44.
Where can I find Biogen's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000875045-26-000011) and the 10-K periodic report (0000875045-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.