Current Ratio
since 2005
Calculation
Biogen Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.83 | = | 7,856,500) | ÷ | 4,298,200) |
| Dec 31, 2020 | 1.84 | = | 6,887,100) | ÷ | 3,742,200) |
| Dec 31, 2019 | 1.72 | = | 8,381,800) | ÷ | 4,863,800) |
| Dec 31, 2018 | 2.32 | = | 7,640,900) | ÷ | 3,295,200) |
| Dec 31, 2017 | 2.34 | = | 7,873,300) | ÷ | 3,368,200) |
| Dec 31, 2016 | 2.55 | = | 8,732,200) | ÷ | 3,419,900) |
| Dec 31, 2015 | 2.60 | = | 6,700,300) | ÷ | 2,577,700) |
| Dec 31, 2014 | 2.11 | = | 4,672,673) | ÷ | 2,219,706) |
| Dec 31, 2013 | 1.81 | = | 3,184,934) | ÷ | 1,758,279) |
| Dec 31, 2012 | 1.96 | = | 3,244,337) | ÷ | 1,657,389) |
| Dec 31, 2011 | 3.26 | = | 2,975,427) | ÷ | 912,889) |
| Dec 31, 2010 | 2.42 | = | 2,540,420) | ÷ | 1,050,122) |
| Dec 31, 2009 | 3.47 | = | 2,480,595) | ÷ | 714,942) |
| Dec 31, 2008 | 2.66 | = | 2,458,000) | ÷ | 923,222) |
| Dec 31, 2007 | 1.08 | = | 2,368,407) | ÷ | 2,189,175) |
| Dec 31, 2006 | 2.94 | = | 1,712,567) | ÷ | 582,855) |
| Dec 31, 2005 | 2.78 | = | 1,618,081) | ÷ | 583,036) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The liquidity position of the organization from 2005 to 2021 is characterized by a consistent ability to cover short-term obligations, maintaining a current ratio above 1.0 throughout the entire period. While the nominal values of both current assets and current liabilities have grown significantly over these sixteen years, the ratio has experienced distinct phases of volatility and stabilization.
- Growth in Liquidity Components
- Current assets exhibited a strong long-term upward trajectory, increasing from approximately 1.62 billion USD in 2005 to a peak of 8.73 billion USD in 2016, before settling at 7.86 billion USD by 2021. Concurrent with this, current liabilities grew from 583 million USD in 2005 to 4.30 billion USD in 2021. The expansion of the asset base generally outpaced the growth of liabilities, though the pace of growth varied by period.
- Analysis of Ratio Fluctuations
- A significant liquidity contraction occurred in 2007, where the current ratio dropped to 1.08, driven by a sharp spike in current liabilities to 2.19 billion USD. This was followed by a period of high volatility between 2008 and 2011, during which the ratio reached its historical peak of 3.47 in 2009. This phase indicates a period of aggressive asset accumulation or a strategic reduction in short-term debt.
- Mid-to-Long Term Stabilization
- Between 2012 and 2018, the current ratio entered a period of relative stability, generally fluctuating between 1.81 and 2.60. This suggests a more standardized approach to working capital management. However, a downward shift is observed starting in 2019, with the ratio consolidating in a lower range between 1.72 and 1.84 through 2021.
- Overall Liquidity Assessment
- The long-term trend indicates a transition from a highly liquid but volatile position in the early years to a more moderate, stabilized liquidity profile in recent years. Despite the decline from the peaks seen in 2009 and 2011, the current ratio remains well above the 1.0 threshold, suggesting a sustained margin of safety for meeting short-term financial commitments.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Biogen Inc., current ratio, long-term trends, comparison to competitors
| Biogen Inc. | AbbVie Inc. | Amgen Inc. | Bristol-Myers Squibb Co. | Danaher Corp. | Eli Lilly & Co. | Gilead Sciences Inc. | Johnson & Johnson | Merck & Co. Inc. | Pfizer Inc. | Regeneron Pharmaceuticals Inc. | Thermo Fisher Scientific Inc. | Vertex Pharmaceuticals Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2021 | 1.83 | 0.79 | 1.59 | 1.52 | 1.43 | 1.23 | 1.27 | 1.35 | 1.27 | 1.40 | 3.56 | 1.50 | 4.46 |
| Dec 31, 2020 | 1.84 | 0.84 | 1.81 | 1.58 | 1.86 | 1.40 | 1.40 | 1.21 | 1.02 | 1.35 | 3.63 | 2.13 | 4.33 |
| Dec 31, 2019 | 1.72 | 3.18 | 1.44 | 1.60 | 5.19 | 1.16 | 3.10 | 1.26 | 1.24 | 0.88 | 3.67 | 1.92 | 3.61 |
| Dec 31, 2018 | 2.32 | 0.98 | 2.79 | 1.61 | 1.47 | 1.73 | 3.38 | 1.47 | 1.17 | 1.57 | 4.47 | 1.73 | 3.43 |
| Dec 31, 2017 | 2.34 | 1.28 | 5.49 | 1.55 | 1.43 | 1.32 | 2.74 | 1.41 | 1.33 | 1.35 | 3.82 | 1.34 | 3.28 |
| Dec 31, 2016 | 2.55 | 1.65 | 4.11 | 1.55 | 0.97 | 1.37 | 2.22 | 2.47 | 1.78 | 1.25 | 2.56 | 1.44 | 2.31 |
| Dec 31, 2015 | 2.60 | 1.50 | 4.44 | 1.30 | 1.27 | 1.53 | 2.50 | 2.17 | 1.55 | 1.49 | 3.59 | 1.38 | 2.78 |
| Dec 31, 2014 | 2.11 | 1.41 | 4.95 | 1.73 | 1.75 | 1.09 | 3.07 | 2.36 | 1.77 | 2.67 | 3.31 | 1.22 | 4.20 |
| Dec 31, 2013 | 1.81 | 2.59 | 3.44 | 1.52 | 2.01 | 1.47 | 1.15 | 2.20 | 2.00 | 2.41 | 6.01 | 3.16 | 3.99 |
| Dec 31, 2012 | 1.96 | 2.27 | 3.81 | 1.15 | 1.80 | 1.55 | 1.44 | 1.90 | 1.90 | 2.15 | 7.37 | 2.31 | 3.67 |
| Dec 31, 2011 | 3.26 | — | 4.80 | 1.97 | 1.50 | 1.60 | 5.53 | 2.38 | 2.04 | 2.06 | 4.40 | 1.55 | 3.39 |
| Dec 31, 2010 | 2.42 | — | 3.52 | 1.97 | 1.73 | 2.09 | 2.32 | 2.05 | 1.86 | 2.11 | 3.28 | 2.42 | 2.23 |
| Dec 31, 2009 | 3.47 | — | 4.89 | 2.21 | 1.89 | 1.90 | 2.57 | 1.82 | 1.80 | 1.66 | 4.55 | 2.76 | 4.59 |
| Dec 31, 2008 | 2.66 | — | 3.12 | 2.20 | 1.53 | 0.95 | 3.52 | 1.65 | 1.35 | 1.59 | 6.23 | 2.82 | 4.01 |
| Dec 31, 2007 | 1.08 | — | 2.11 | 1.20 | 1.40 | 2.33 | 4.11 | 1.51 | 1.23 | 2.15 | 2.81 | 1.93 | 2.49 |
| Dec 31, 2006 | 2.94 | — | 1.67 | 1.59 | 1.38 | 1.91 | 3.18 | 1.20 | 1.20 | 2.20 | 10.44 | 1.70 | 3.07 |
| Dec 31, 2005 | 2.78 | — | 2.57 | 1.78 | 1.30 | 1.89 | 6.79 | 2.48 | 1.58 | 1.47 | 8.46 | 1.71 | 3.84 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Pharmaceuticals, Biotechnology & Life Sciences)
Biogen Inc., current ratio, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
| Biogen Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
|---|---|---|
| Dec 31, 2021 | 1.83 | 1.36 |
| Dec 31, 2020 | 1.84 | 1.37 |
| Dec 31, 2019 | 1.72 | 1.66 |
| Dec 31, 2018 | 2.32 | 1.71 |
| Dec 31, 2017 | 2.34 | 1.74 |
| Dec 31, 2016 | 2.55 | 1.91 |
| Dec 31, 2015 | 2.60 | 1.90 |
| Dec 31, 2014 | 2.11 | 2.19 |
| Dec 31, 2013 | 1.81 | 2.17 |
| Dec 31, 2012 | 1.96 | 2.04 |
| Dec 31, 2011 | 3.26 | 2.30 |
| Dec 31, 2010 | 2.42 | 2.14 |
| Dec 31, 2009 | 3.47 | 1.95 |
| Dec 31, 2008 | 2.66 | 1.66 |
| Dec 31, 2007 | 1.08 | 1.74 |
| Dec 31, 2006 | 2.94 | 1.65 |
| Dec 31, 2005 | 2.78 | 1.82 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Health Care)
Biogen Inc., current ratio, long-term trends, comparison to industry (health care)
| Biogen Inc. | Health Care | |
|---|---|---|
| Dec 31, 2021 | 1.83 | 1.31 |
| Dec 31, 2020 | 1.84 | 1.30 |
| Dec 31, 2019 | 1.72 | 1.48 |
| Dec 31, 2018 | 2.32 | 1.52 |
| Dec 31, 2017 | 2.34 | 1.55 |
| Dec 31, 2016 | 2.55 | 1.73 |
| Dec 31, 2015 | 2.60 | 1.70 |
| Dec 31, 2014 | 2.11 | 1.92 |
| Dec 31, 2013 | 1.81 | 1.96 |
| Dec 31, 2012 | 1.96 | 1.84 |
| Dec 31, 2011 | 3.26 | 1.94 |
| Dec 31, 2010 | 2.42 | 1.81 |
| Dec 31, 2009 | 3.47 | 1.78 |
| Dec 31, 2008 | 2.66 | 1.44 |
| Dec 31, 2007 | 1.08 | 1.53 |
| Dec 31, 2006 | 2.94 | 1.39 |
| Dec 31, 2005 | 2.78 | 1.63 |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).