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
Analysis of the liquidity position from 2005 to 2021 reveals a generally strong capacity to meet short-term obligations, although the current ratio experienced notable volatility during the first decade of the observed period.
- Early Period Volatility (2005–2011)
- The current ratio began at 2.78 in 2005 and reached a period peak of 3.47 in 2009. A significant contraction occurred in 2007, where the ratio dropped to 1.08, driven by a sharp increase in current liabilities from approximately 583 million to 2.19 billion. A rapid recovery followed in 2008 and 2009 as liabilities decreased and current assets continued to grow.
- Intermediate Stabilization (2012–2018)
- Between 2012 and 2018, the current ratio fluctuated within a more stable range of 1.81 to 2.60. During this phase, current assets grew substantially, rising from 3.24 billion in 2012 to a peak of 8.73 billion in 2016. Current liabilities also trended upward during this window, which served to keep the ratio relatively consistent despite the growth in absolute asset value.
- Recent Liquidity Trends (2019–2021)
- A downward shift in liquidity is observed starting in 2019, with the current ratio declining to 1.72 and remaining near 1.83 by 2021. This compression is largely attributed to a significant increase in current liabilities, which peaked at 4.86 billion in 2019, coinciding with a period of stabilizing current assets.
- Long-term Asset and Liability Dynamics
- Over the full duration, current assets expanded from 1.62 billion to 7.86 billion, while current liabilities grew from 583 million to 4.30 billion. The consistent maintenance of a ratio above 1.0 across all years indicates a sustained liquidity buffer, though the trend toward lower ratios in recent years suggests a change in the composition of working capital or an increase in short-term financing requirements.
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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).