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Biogen Inc. (NASDAQ:BIIB)

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Total Asset Turnover
since 2005

Microsoft Excel

Calculation

Biogen Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Revenues1 ÷ Total assets1
Dec 31, 2021 0.46 = 10,981,700 ÷ 23,877,300
Dec 31, 2020 0.55 = 13,444,600 ÷ 24,618,900
Dec 31, 2019 0.53 = 14,377,900 ÷ 27,234,300
Dec 31, 2018 0.53 = 13,452,900 ÷ 25,288,900
Dec 31, 2017 0.52 = 12,273,900 ÷ 23,652,600
Dec 31, 2016 0.50 = 11,448,800 ÷ 22,876,800
Dec 31, 2015 0.55 = 10,763,800 ÷ 19,504,800
Dec 31, 2014 0.68 = 9,703,324 ÷ 14,316,559
Dec 31, 2013 0.58 = 6,932,199 ÷ 11,863,335
Dec 31, 2012 0.54 = 5,516,461 ÷ 10,130,118
Dec 31, 2011 0.56 = 5,048,634 ÷ 9,049,604
Dec 31, 2010 0.58 = 4,716,423 ÷ 8,092,493
Dec 31, 2009 0.51 = 4,377,348 ÷ 8,551,854
Dec 31, 2008 0.48 = 4,097,507 ÷ 8,478,991
Dec 31, 2007 0.37 = 3,171,617 ÷ 8,628,815
Dec 31, 2006 0.31 = 2,683,049 ÷ 8,552,808
Dec 31, 2005 0.29 = 2,422,500 ÷ 8,366,947

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 financial performance between 2005 and 2021 is characterized by a prolonged period of expanding operational efficiency followed by a phase of asset-heavy growth and a subsequent decline in asset utilization. Revenue exhibited a strong upward trajectory for the majority of the period, growing from approximately 2.4 billion USD in 2005 to a peak of 14.4 billion USD in 2019, before contracting to 11.0 billion USD by 2021.

Efficiency Expansion Phase (2005–2014)
A consistent improvement in asset utilization is observed during this interval. The total asset turnover ratio rose from 0.29 in 2005 to a peak of 0.68 in 2014. This trend was driven by revenue growth that significantly outpaced the growth of the asset base, which remained relatively stable under 10 billion USD until 2012 before beginning a gradual ascent.
Asset Intensification and Stabilization (2015–2019)
A shift in the asset-to-revenue relationship occurred starting in 2015, as total assets increased rapidly from 19.5 billion USD in 2014 to 27.2 billion USD in 2019. Although revenues continued to climb, the scale of asset accumulation resulted in a dilution of the turnover ratio, which stabilized within a narrow range between 0.50 and 0.53. This suggests that the incremental investment in assets did not yield a proportional increase in immediate revenue generation.
Revenue Contraction and Efficiency Decline (2020–2021)
The final two years show a downward trend in operational efficiency. While total assets were reduced from 27.2 billion USD to 23.9 billion USD, revenues declined more sharply, falling to 11.0 billion USD by the end of 2021. This imbalance resulted in the asset turnover ratio dropping to 0.46, the lowest level observed since 2006.

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Comparison to Competitors

Biogen Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
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 0.46 0.38 0.40 0.42 0.35 0.58 0.40 0.52 0.46 0.45 0.63 0.41 0.56
Dec 31, 2020 0.55 0.30 0.39 0.36 0.29 0.53 0.36 0.47 0.52 0.28 0.50 0.47 0.53
Dec 31, 2019 0.53 0.37 0.37 0.20 0.29 0.57 0.36 0.52 0.55 0.31 0.53 0.44 0.50
Dec 31, 2018 0.53 0.55 0.34 0.64 0.42 0.56 0.34 0.53 0.51 0.34 0.57 0.43 0.49
Dec 31, 2017 0.52 0.40 0.27 0.62 0.39 0.51 0.37 0.49 0.46 0.31 0.67 0.37 0.70
Dec 31, 2016 0.50 0.39 0.28 0.58 0.37 0.55 0.53 0.51 0.42 0.31 0.70 0.40 0.59
Dec 31, 2015 0.55 0.43 0.29 0.52 0.43 0.56 0.62 0.53 0.39 0.29 0.73 0.41 0.41
Dec 31, 2014 0.68 0.72 0.28 0.47 0.54 0.53 0.71 0.57 0.43 0.29 0.73 0.39 0.25
Dec 31, 2013 0.58 0.64 0.28 0.42 0.55 0.66 0.48 0.54 0.42 0.30 0.71 0.41 0.52
Dec 31, 2012 0.54 0.68 0.31 0.49 0.55 0.66 0.44 0.55 0.45 0.32 0.66 0.46 0.55
Dec 31, 2011 0.56 — 0.31 0.64 0.54 0.72 0.47 0.57 0.46 0.36 0.34 0.44 0.64
Dec 31, 2010 0.58 — 0.34 0.63 0.59 0.74 0.64 0.60 0.43 0.35 0.42 0.51 0.08
Dec 31, 2009 0.51 — 0.36 0.61 0.57 0.80 0.67 0.65 0.24 0.23 0.51 0.47 0.05
Dec 31, 2008 0.48 — 0.40 0.70 0.73 0.70 0.72 0.75 0.51 0.43 0.36 0.50 0.18
Dec 31, 2007 0.37 — 0.41 0.74 0.63 0.70 0.64 0.75 0.50 0.42 0.13 0.46 0.33
Dec 31, 2006 0.31 — 0.41 0.70 0.75 0.71 0.63 0.76 0.51 0.42 0.11 0.18 0.23
Dec 31, 2005 0.29 — 0.41 0.68 0.87 0.60 0.48 0.87 0.49 0.44 0.16 0.62 0.29

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., total asset turnover, long-term trends, comparison to sector (pharmaceuticals, biotechnology & life sciences)

Microsoft Excel
Biogen Inc. Pharmaceuticals, Biotechnology & Life Sciences
Dec 31, 2021 0.46 0.45
Dec 31, 2020 0.55 0.39
Dec 31, 2019 0.53 0.39
Dec 31, 2018 0.53 0.45
Dec 31, 2017 0.52 0.40
Dec 31, 2016 0.50 0.41
Dec 31, 2015 0.55 0.42
Dec 31, 2014 0.68 0.44
Dec 31, 2013 0.58 0.43
Dec 31, 2012 0.54 0.45
Dec 31, 2011 0.56 0.47
Dec 31, 2010 0.58 0.47
Dec 31, 2009 0.51 0.39
Dec 31, 2008 0.48 0.57
Dec 31, 2007 0.37 0.56
Dec 31, 2006 0.31 0.54
Dec 31, 2005 0.29 0.57

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., total asset turnover, long-term trends, comparison to industry (health care)

Microsoft Excel
Biogen Inc. Health Care
Dec 31, 2021 0.46 0.62
Dec 31, 2020 0.55 0.57
Dec 31, 2019 0.53 0.57
Dec 31, 2018 0.53 0.63
Dec 31, 2017 0.52 0.56
Dec 31, 2016 0.50 0.57
Dec 31, 2015 0.55 0.55
Dec 31, 2014 0.68 0.60
Dec 31, 2013 0.58 0.58
Dec 31, 2012 0.54 0.58
Dec 31, 2011 0.56 0.61
Dec 31, 2010 0.58 0.61
Dec 31, 2009 0.51 0.55
Dec 31, 2008 0.48 0.73
Dec 31, 2007 0.37 0.71
Dec 31, 2006 0.31 0.69
Dec 31, 2005 0.29 0.66

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).