Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.4B | $12.3B | $13.5B | $14.4B | $13.4B | $11.0B | $10.2B | $9.84B | $9.68B | $9.89B |
| Revenue growth | — | 7.2% | 9.6% | 6.9% | -6.5% | -18.3% | -7.4% | -3.3% | -1.6% | 2.2% |
| Gross profit | $9.97B | $10.6B | $11.6B | $12.4B | $11.6B | — | — | — | — | — |
| Gross margin | 87.1% | 86.7% | 86.5% | 86.4% | 86.6% | — | — | — | — | — |
| Operating income | $5.15B | $5.35B | $5.89B | $7.04B | $4.55B | $2.84B | — | — | — | — |
| Operating margin | 45.0% | 43.6% | 43.8% | 49.0% | 33.8% | 25.9% | — | — | — | — |
| Net income | $3.70B | $2.54B | $4.43B | $5.89B | $4.00B | $1.56B | $3.05B | $1.16B | $1.63B | $1.29B |
| Net margin | 32.3% | 20.7% | 32.9% | 41.0% | 29.8% | 14.2% | 29.9% | 11.8% | 16.9% | 13.1% |
| EPS (diluted) | $16.93 | $11.92 | $21.58 | $31.42 | $24.80 | $10.40 | $20.87 | $7.97 | $11.18 | $8.79 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.59B | $4.55B | $6.19B | $7.08B | $4.23B | $3.64B | $1.38B | $1.55B | $2.88B | $2.20B |
| Capital expenditures | $616M | $867M | $771M | $515M | $425M | $258M | $240M | $277M | $154M | $154M |
| Free cash flow | $3.97B | $3.68B | $5.42B | $6.56B | $3.81B | $3.38B | $1.14B | $1.27B | $2.72B | $2.05B |
| Share buybacks | $1.00B | $1.37B | $4.35B | $5.87B | $6.68B | $1.80B | $750M | $0.00 | $0.00 | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.33B | $1.57B | $1.22B | $2.91B | $1.33B | $2.26B | $3.42B | $1.05B | $2.38B | $3.01B |
| Total assets | $22.9B | $23.7B | $25.3B | $27.2B | $24.6B | $23.9B | $24.6B | $26.8B | $28.0B | $29.4B |
| Total liabilities | $10.7B | $11.1B | $12.3B | $13.9B | $13.9B | $12.9B | $11.2B | $12.0B | $11.3B | $11.2B |
| Long-term debt | $6.51B | $5.93B | $5.94B | $4.46B | $7.43B | $6.27B | $6.28B | $6.94B | $6.30B | $6.29B |
| Shareholders' equity | $12.1B | $12.6B | $13.0B | $13.3B | $10.7B | $11.0B | $13.4B | $14.8B | $16.7B | $18.3B |
| Retained earnings | $15.1B | $15.8B | $16.3B | $16.5B | $14.0B | $13.9B | $16.5B | $17.6B | $19.3B | $20.6B |
| Shares (wtd avg diluted) | 219M | 213M | 205M | 187M | 161M | 150M | 146M | 146M | 146M | 147M |
Every figure is extracted from BIOGEN INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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