Balance Sheet Biogen Inc.

Equities

BIIB

US09062X1037

Pharmaceuticals

Market Closed - Nasdaq Other stock markets 04:00:00 2024-09-06 pm EDT			5-day change	1st Jan Change
200.81 ^USD	-0.49%		-1.93%	-22.40%

Sep. 04	Transcript : Biogen Inc. Presents at Morgan Stanley 22nd Annual Global Healthcare Conference, Sep-04-2024 10:00 AM
Sep. 04	Biogen Says Trial of Potential Treatment for Infant Spinal Muscular Atrophy Meets Primary Endpoint	MT

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Published financial data: BIOGEN INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	13.67B	12.67B	10.51B	9.69B	9.84B
Other Revenues, Total	708M	775M	476M	485M	-
Total Revenues	14.38B	13.44B	10.98B	10.17B	9.84B
Cost of Goods Sold, Total	1.96B	1.81B	2.11B	2.28B	2.53B
Gross Profit	12.42B	11.64B	8.87B	7.9B	7.3B
Selling General & Admin Expenses, Total	2.36B	2.51B	2.68B	2.41B	2.5B
R&D Expenses	2.26B	3.98B	2.5B	2.23B	2.46B
Amortization of Goodwill and Intangible Assets - (IS)	274M	255M	252M	246M	241M
Other Operating Expenses	242M	233M	7.2M	-7.4M	219M
Other Operating Expenses, Total	5.14B	6.98B	5.44B	4.88B	5.42B
Operating Income	7.28B	4.66B	3.44B	3.01B	1.88B
Interest Expense, Total	-187M	-213M	-254M	-247M	-247M
Interest And Investment Income	120M	42M	11M	89.3M	276M
Net Interest Expenses	-67.4M	-171M	-243M	-157M	29.6M
Income (Loss) On Equity Invest.	-79.4M	5.3M	34.9M	2.6M	-
Currency Exchange Gains (Loss)	-7M	-10.7M	-22.4M	-35.5M	-50.4M
Other Non Operating Income (Expenses)	-48.3M	3.6M	-4M	-3M	-1.7M
EBT, Excl. Unusual Items	7.08B	4.48B	3.2B	2.82B	1.86B
Restructuring Charges	-1.5M	-	-	-131M	-243M
Merger & Related Restructuring Charges	-26.2M	-	-	-	-28.4M
Gain (Loss) On Sale Of Investments	205M	686M	-825M	1.23B	-291M
Gain (Loss) On Sale Of Assets	-55.3M	92.5M	-	504M	-
Asset Writedown	-216M	-210M	-629M	-120M	-
In Process R&D Expenses	-	-75M	-18M	-	-
Legal Settlements	-	-	-	-917M	-
Other Unusual Items	63.7M	76.9M	50.7M	209M	-
EBT, Incl. Unusual Items	7.05B	5.05B	1.78B	3.59B	1.3B
Income Tax Expense	1.16B	992M	52.5M	633M	135M
Earnings From Continuing Operations	5.89B	4.06B	1.73B	2.96B	1.16B
Net Income to Company	5.89B	4.06B	1.73B	2.96B	1.16B
Minority Interest	-	-59.9M	-172M	85.3M	-400K
Net Income - (IS)	5.89B	4B	1.56B	3.05B	1.16B
Net Income to Common Incl Extra Items	5.89B	4B	1.56B	3.05B	1.16B
Net Income to Common Excl. Extra Items	5.89B	4B	1.56B	3.05B	1.16B
Per Share Items
Net EPS - Basic	31.47	24.86	10.44	20.97	8.02
Basic EPS - Continuing Operations	31.47	24.86	10.44	20.97	8.02
Basic Weighted Average Shares Outstanding	187M	161M	149M	145M	145M
Net EPS - Diluted	31.42	24.8	10.4	20.87	7.97
Diluted EPS - Continuing Operations	31.42	24.8	10.4	20.87	7.97
Diluted Weighted Average Shares Outstanding	187M	161M	150M	146M	146M
Normalized Basic EPS	23.64	17.04	12.27	12.72	8.03
Normalized Diluted EPS	23.6	17	12.23	12.66	7.98
American Depositary Receipts Ratio (ADR)	0.17	0.17	0.17	0.17	0.17
Supplemental Items
EBITDA	7.74B	5.11B	3.92B	3.53B	2.38B
EBITA	7.55B	4.91B	3.69B	3.26B	2.12B
EBIT	7.28B	4.66B	3.44B	3.01B	1.88B
EBITDAR	7.83B	5.2B	4.02B	3.63B	2.52B
Total Revenues (As Reported)	14.38B	13.44B	10.98B	10.17B	9.84B
Effective Tax Rate - (Ratio)	16.43	19.64	2.95	17.61	10.43
Current Domestic Taxes	1.01B	688M	342M	734M	393M
Current Foreign Taxes	84.4M	155M	137M	67.9M	48.4M
Total Current Taxes	1.09B	843M	479M	801M	441M
Deferred Domestic Taxes	1.14B	-1.76B	-254M	-326M	-600M
Deferred Foreign Taxes	-1.07B	1.91B	-172M	157M	294M
Total Deferred Taxes	67.1M	149M	-427M	-169M	-306M
Normalized Net Income	4.42B	2.74B	1.83B	1.85B	1.16B
Interest Capitalized	68.8M	65.2M	36.3M	17.1M	21.7M
Non-Cash Pension Expense	19.8M	21.7M	29.1M	25.9M	21.2M
Supplemental Operating Expense Items
Advertising Expense	79.2M	112M	98.7M	54.1M	71.4M
Selling and Marketing Expenses	79.2M	112M	98.7M	54.1M	71.4M
Research And Development Expense From Footnotes	2.28B	4.07B	3.4B	2.6B	2.7B
Net Rental Expense, Total	86.7M	92.4M	97.9M	95.6M	140M
Imputed Operating Lease Interest Expense	28.71M	28.67M	29.1M	28M	42.64M
Imputed Operating Lease Depreciation	57.99M	63.73M	68.8M	67.6M	97.66M
Stock-Based Comp., Other (Total)	216M	205M	251M	264M	658M
Total Stock-Based Compensation	216M	205M	251M	264M	658M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.91B	1.33B	2.26B	3.42B	1.05B
Short Term Investments	1.56B	1.28B	1.54B	1.47B	-
Total Cash And Short Term Investments	4.48B	2.61B	3.8B	4.89B	1.05B
Accounts Receivable, Total	2.47B	2.33B	1.96B	2.14B	2.1B
Other Receivables	-	-	-	799M	430M
Total Receivables	2.47B	2.33B	1.96B	2.94B	2.53B
Inventory	804M	1.07B	1.35B	1.34B	2.53B
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	631M	881M	741M	619M	752M
Total Current Assets	8.38B	6.89B	7.86B	9.79B	6.86B
Gross Property Plant And Equipment	5.27B	5.63B	5.8B	5.87B	6.13B
Accumulated Depreciation	-1.59B	-1.78B	-2.01B	-2.17B	-2.4B
Net Property Plant And Equipment	3.67B	3.84B	3.79B	3.7B	3.73B
Long-term Investments	2.66B	3.67B	2.83B	1.81B	626M
Goodwill	5.76B	5.76B	5.76B	5.75B	6.22B
Other Intangibles, Total	3.53B	3.08B	2.22B	1.85B	8.36B
Accounts Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	3.23B	1.37B	1.42B	1.23B	929M
Other Long-Term Assets, Total	-	-	5.5M	426M	119M
Total Assets	27.23B	24.62B	23.88B	24.55B	26.84B
Liabilities
Accounts Payable, Total	531M	455M	589M	492M	403M
Accrued Expenses, Total	1.53B	1.63B	1.38B	1.5B	1.45B
Short-term Borrowings	-	-	-	-	150M
Current Portion of Long-Term Debt	1.5B	-	999M	-	-
Current Portion of Leases	73.6M	83.2M	89.1M	97.2M	90.3M
Current Income Taxes Payable	71.4M	142M	175M	260M	257M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	1.16B	1.43B	1.06B	928M	1.08B
Total Current Liabilities	4.86B	3.74B	4.3B	3.27B	3.43B
Long-Term Debt	4.46B	7.43B	6.27B	6.28B	6.79B
Long-Term Leases	413M	402M	330M	333M	400M
Deferred Tax Liability Non Current	2.81B	1.03B	694M	335M	642M
Other Non Current Liabilities	1.35B	1.33B	1.32B	944M	781M
Total Liabilities	13.9B	13.93B	12.92B	11.17B	12.05B
Common Stock, Total	100K	100K	100K	100K	100K
Additional Paid In Capital	-	-	68.2M	73.3M	302M
Retained Earnings	16.46B	13.98B	13.91B	16.47B	17.63B
Treasury Stock	-2.98B	-2.98B	-2.98B	-2.98B	-2.98B
Comprehensive Income and Other	-135M	-299M	-107M	-165M	-154M
Total Common Equity	13.34B	10.7B	10.9B	13.4B	14.8B
Minority Interest	-4.1M	-14.2M	63.5M	-9.5M	-
Total Equity	13.34B	10.69B	10.96B	13.39B	14.8B
Total Liabilities And Equity	27.23B	24.62B	23.88B	24.55B	26.84B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	174M	152M	147M	144M	145M
ECS Total Common Shares Outstanding	174M	152M	147M	144M	145M
Book Value / Share	76.6	70.21	74.12	92.98	102.14
Tangible Book Value	4.06B	1.85B	2.91B	5.8B	217M
Tangible Book Value Per Share	23.3	12.16	19.82	40.24	1.5
Total Debt	6.44B	7.91B	7.69B	6.71B	7.43B
Net Debt	557M	4.53B	3B	1.11B	6.38B
Debt Equivalent of Unfunded Proj. Benefit Obligation	47.1M	25.5M	-300K	-20.9M	-58.5M
Debt Equivalent Oper. Leases	694M	739M	783M	765M	1.12B
Minority Interest, Total (Incl. Fin. Div)	-4.1M	-14.2M	63.5M	-9.5M	-
Equity Method Investments, Total	580M	671M	600M	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	170M	315M	350M	-	-
Inventories - Work In Process, Total	460M	544M	814M	-	-
Inventories - Finished Goods, Total	174M	209M	188M	-	-
Land - (BS)	118M	120M	208M	202M	202M
Buildings, Total	835M	1.03B	1.7B	1.59B	1.6B
Machinery, Total	903M	1.09B	1.65B	1.67B	1.77B
Full Time Employees	7.4K	9.1K	9.61K	8.72K	7.57K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	2.4M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	5.89B	4B	1.56B	3.05B	1.16B
Depreciation & Amortization - CF	191M	202M	236M	272M	254M
Amortization of Goodwill and Intangible Assets - (CF)	274M	255M	252M	246M	241M
Depreciation & Amortization, Total	465M	457M	488M	518M	495M
(Gain) Loss From Sale Of Asset	55.3M	-92.5M	-	-504M	-
(Gain) Loss on Sale of Investments - (CF)	-	-682M	827M	-1.24B	277M
Asset Writedown & Restructuring Costs	216M	285M	647M	120M	-
(Income) Loss On Equity Investments - (CF)	-	-3.3M	-34.9M	-2.6M	-
Stock-Based Compensation (CF)	182M	198M	239M	254M	264M
Other Operating Activities, Total	72.6M	254M	63.8M	81.4M	-1.3M
Change In Accounts Receivable	68.8M	2.8M	325M	-203M	61.3M
Change In Inventories	-19.2M	-316M	-462M	-320M	-131M
Change In Income Taxes	-	-	-	-	-
Change In Deferred Taxes	16.1M	-67.5M	231M	-142M	-299M
Change in Other Net Operating Assets	134M	194M	-239M	-224M	-280M
Cash from Operations	7.08B	4.23B	3.64B	1.38B	1.55B
Capital Expenditure	-514M	-425M	-258M	-240M	-277M
Sale of Property, Plant, and Equipment	-	-	-	583M	-
Cash Acquisitions	-1.04B	-142M	-	-	-6.93B
Divestitures	924M	-	28.1M	-	-
Sale (Purchase) of Intangible assets	-155M	-127M	-36.8M	-2.9M	-34.4M
Investment in Marketable and Equity Securities, Total	1.23B	112M	-310M	1.21B	3.15B
Other Investing Activities, Total	27M	-26.9M	12.9M	24.4M	-11.3M
Cash from Investing	470M	-609M	-564M	1.58B	-4.1B
Long-Term Debt Issued, Total	-	2.97B	-	-	997M
Total Debt Issued	-	2.97B	-	-	997M
Long-Term Debt Repaid, Total	-	-1.5B	-170M	-1B	-810M
Total Debt Repaid	-	-1.5B	-170M	-1B	-810M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-5.87B	-6.68B	-1.8B	-750M	-
Other Financing Activities, Total	7.9M	-61M	-116M	4.9M	-38M
Cash from Financing	-5.86B	-5.27B	-2.09B	-1.75B	149M
Foreign Exchange Rate Adjustments	400K	69M	-59.8M	-55.7M	35.1M
Net Change in Cash	1.69B	-1.58B	930M	1.16B	-2.37B
Supplemental Items
Cash Interest Paid	244M	273M	281M	262M	252M
Cash Income Tax Paid (Refund)	1.06B	907M	248M	933M	741M
Levered Free Cash Flow	4.64B	2.88B	2.21B	1.39B	971M
Unlevered Free Cash Flow	4.76B	3.01B	2.36B	1.54B	1.13B
Change In Net Working Capital	-196M	6.5M	226M	879M	893M
Net Debt Issued / Repaid	-	1.47B	-170M	-1B	187M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	17.32	11.22	8.86	7.78	4.58
Return on Total Capital	23.48	15.16	11.53	9.72	5.56
Return On Equity %	44.66	33.8	15.96	24.33	8.24
Return on Common Equity	44.64	33.28	14.41	25.08	8.24
Margin Analysis
Gross Profit Margin %	86.4	86.57	80.79	77.61	74.24
SG&A Margin	16.43	18.68	24.41	23.72	25.44
EBITDA Margin %	53.86	38.03	35.73	34.73	24.17
EBITA Margin %	52.53	36.52	33.58	32.05	21.58
EBIT Margin %	50.63	34.63	31.29	29.63	19.14
Income From Continuing Operations Margin %	40.96	30.2	15.73	29.11	11.81
Net Income Margin %	40.96	29.76	14.17	29.95	11.8
Net Avail. For Common Margin %	40.96	29.76	14.17