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Biogen Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
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Calculation
ROE | = | 100 | × | Net income attributable to Biogen Inc.1 | ÷ | Total Biogen Inc. shareholders’ equity1 | |
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Dec 31, 2021 | = | 100 | × | ÷ | |||
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Dec 31, 2009 | = | 100 | × | ÷ | |||
Dec 31, 2008 | = | 100 | × | ÷ | |||
Dec 31, 2007 | = | 100 | × | ÷ | |||
Dec 31, 2006 | = | 100 | × | ÷ | |||
Dec 31, 2005 | = | 100 | × | ÷ |
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 analysis of the financial data over the examined period reveals several notable trends in profitability and shareholder equity for the company.
- Net Income
- The net income attributable to the company demonstrates significant growth in absolute terms from 2005 through 2015, beginning at approximately $161 million and peaking at around $3.55 billion in 2015. This represents a substantial increase indicating improved operational performance or favorable market conditions during this time frame. Following the 2015 peak, net income exhibits fluctuations, with some years of decline, notably in 2017 and 2021, where net income decreased to about $2.54 billion and $1.56 billion respectively, suggesting periods of reduced profitability or increased expenses.
- Total Shareholders' Equity
- The total shareholders' equity maintains an overall upward trend from 2005, starting at roughly $6.91 billion. Some volatility is present, especially in 2007 and 2010 when equity dropped to approximately $5.53 billion and $5.40 billion respectively. However, from 2011 onwards, there is a general increase, reaching a maximum near $13.34 billion in 2019, indicating a strengthened equity base. A decline is noticed post-2019, with equity reducing to around $10.8 billion by 2021, which may suggest share buybacks, dividend payments, or losses impacting accumulated equity.
- Return on Equity (ROE)
- ROE begins at a low of 2.33% in 2005, increasing steadily through the late 2000s and early 2010s, peaking impressively at 44.13% in 2019. This upward trend in ROE indicates increasing efficiency in generating profit from shareholder equity over this period. After 2019, however, ROE declines sharply, falling to 14.28% in 2021, reflecting reduced profitability or increased equity base relative to net income.
In summary, the company experienced robust growth in net income and ROE up until the mid to late 2010s, accompanied by steady growth in shareholders' equity. The peak years showed strong profitability and equity returns, highlighting operational strength. The subsequent declines in net income, equity, and ROE in recent years suggest challenges impacting profitability and efficiency, warranting further investigation into underlying causes such as market conditions, expenses, or strategic changes.
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. | |
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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., ROE, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)
Biogen Inc. | Pharmaceuticals, Biotechnology & Life Sciences | |
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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. | Health Care | |
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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).