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Biogen BIIB Return on invested capital

Return on invested capital at other companies

Neurocrine Biosciences logo
Neurocrine BiosciencesNBIX
17.5%+5.1pp
Eli Lilly logo
Eli LillyLLY
42%+16.6pp
Royalty Pharma logo
Royalty PharmaRPRX
9.2%-2.9pp
Bristol-Myers Squibb logo
Bristol-Myers SquibbBMY
13%+4.2pp
Amgen logo
AmgenAMGN
14.1%+4.0pp
Incyte logo
IncyteINCY
65.6%+61.0pp

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 trailing twelve months.

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 return on invested capital?
Biogen (BIIB) reported return on invested capital of 7.8% in Q1 2026.
How has Biogen's return on invested capital changed year-over-year?
Biogen's return on invested capital decreased by 4.6% year-over-year, from 8.1% to 7.8%.
What is the long-term trend for Biogen's return on invested capital?
Over 4 years (2021 to 2025), Biogen's return on invested capital has grown at a -16.6% compound annual growth rate (CAGR), from 66.1% to 32%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.