What is Biogen's tax credit carryforward valuation allowance?

Biogen (BIIB) reported tax credit carryforward valuation allowance of $1.28B in Q4 2023.

How has Biogen's tax credit carryforward valuation allowance changed year-over-year?

Biogen's tax credit carryforward valuation allowance decreased by 36.2% year-over-year, from $2.00B to $1.28B.

What is the long-term trend for Biogen's tax credit carryforward valuation allowance?

Over 3 years (2020 to 2023), Biogen's tax credit carryforward valuation allowance has grown at a -10.0% compound annual growth rate (CAGR), from $1.75B to $1.28B.

What does tax credit carryforward valuation allowance mean?

A reserve account reducing the value of tax credits that the company may not be able to use.

Discontinued — last reported Q4 '23

Non-Current Assets

Tax Credit Carryforward Valuation Allowance

Biogen Tax Credit Carryforward Valuation Allowance increased by 1404.4% to $1.28B in Q4 2023 compared to the prior quarter. Year-over-year, this metric declined by 36.2%, from $2.00B to $1.28B. Over 3 years (FY 2020 to FY 2023), Tax Credit Carryforward Valuation Allowance shows a downward trend with a -10.0% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.

Analysis

StatementBalance Sheet Statement

SectionNon-Current Assets

CategoryRisk

SignalLower is better

VolatilityStable

First reportedQ4 2019

Last reportedQ4 2023Feb 14, 2024

How to read this metric

An increase signals management's reduced confidence in utilizing tax credits, while a decrease suggests improved prospects for tax savings.

Detailed definition

This is a contra-asset account established against deferred tax assets related to tax credit carryforwards when it is mo...

Peer comparison

Varies significantly based on profitability and tax jurisdiction; peers with stable earnings typically maintain lower valuation allowances.

Metric ID: tax_credit_carryforward_valuation_allowance

Historical Data

10 periods

	Q2 '21	Q4 '21	Q1 '22	Q2 '22	Q3 '22	Q4 '22	Q1 '23	Q2 '23	Q3 '23	Q4 '23
Value	$375.00M	$1.96B	$85.00M	$85.00M	$85.00M	$2.00B	$85.00M	$85.00M	$85.00M	$1.28B
QoQ Change	—	+423.0%	-95.7%	+0.0%	+0.0%	>999%	-95.8%	+0.0%	+0.0%	>999%
YoY Change	—	—	—	-77.3%	—	+2.1%	+0.0%	+0.0%	+0.0%	-36.2%

Range$85.00M – $2.00B

CAGR+72.5%

Avg YoY Growth-18.6%

Median YoY Growth+0.0%

Current Streak3 quarters growth

Tax Credit Carryforward Valuation Allowance at Other Companies

Merck & Co.MRK View metric

Frequently Asked Questions

What is Biogen's tax credit carryforward valuation allowance?: Biogen (BIIB) reported tax credit carryforward valuation allowance of $1.28B in Q4 2023.
How has Biogen's tax credit carryforward valuation allowance changed year-over-year?: Biogen's tax credit carryforward valuation allowance decreased by 36.2% year-over-year, from $2.00B to $1.28B.
What is the long-term trend for Biogen's tax credit carryforward valuation allowance?: Over 3 years (2020 to 2023), Biogen's tax credit carryforward valuation allowance has grown at a -10.0% compound annual growth rate (CAGR), from $1.75B to $1.28B.
What does tax credit carryforward valuation allowance mean?: A reserve account reducing the value of tax credits that the company may not be able to use.