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Biogen BIIB Net debt / EBITDA

Net debt / EBITDA at other companies

Neurocrine Biosciences logo
Neurocrine BiosciencesNBIX
0.2×-0.3×
Eli Lilly logo
Eli LillyLLY
1.1×-1.1×
Royalty Pharma logo
Royalty PharmaRPRX
5.2×+1.4×
Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
2.7×-0.1×
Amgen logo
AmgenAMGN
3.7×-0.7×
Incyte logo
IncyteINCY
-2×-0.8×

Other financials

Income statement

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Revenue$2.5B+1.9%
Gross profit$1.8B+0.8%
Net income$319.5M+32.9%
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

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Market cap$29.33B+34.3%
Enterprise value$32.51B+34.9%
P/E20.6×+5.9×
P/S+0.7×

Profitability

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Gross margin75.5%-0.1pp
Operating margin22.9%
Net margin14.3%-0.8pp

Returns & leverage

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

Where this comes from

Calculated from Biogen’s reported figures.

Based on the most recent quarter.

The official record: Biogen’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Biogen's net debt / EBITDA?
Biogen (BIIB) reported net debt / EBITDA of 1.2× in Q1 2026.
How has Biogen's net debt / EBITDA changed year-over-year?
Biogen's net debt / EBITDA increased by 37.5% year-over-year, from 0.9× to 1.2×.
What is the long-term trend for Biogen's net debt / EBITDA?
Over 4 years (2021 to 2025), Biogen's net debt / EBITDA has grown at a -9.6% compound annual growth rate (CAGR), from 6.9× to 4.6×.
What does net debt / EBITDA mean?
How many years of operating earnings it would take to pay off the company's net debt.
How do you interpret net debt / EBITDA?
Lower is safer; lenders often covenant around 3–4×. A negative value means net cash (more cash than debt), a position of strength. Spikes can reflect a temporary EBITDA dip rather than new borrowing.
How does net debt / EBITDA compare across companies?
A standard leverage yardstick across non-financial sectors; covenant thresholds vary by industry cash-flow stability.