Paying users zone. Data is covered by hidden .

We accept:

Biogen Inc. (BIIB)

Price to FCFE (P/FCFE)

Difficulty: Intermediate

Biogen Inc., FCFE calculation

USD $ in thousands

	12 months ended	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	Net income attributable to Biogen Inc.
	Net (income) loss attributable to noncontrolling interests, net of tax
	Net noncash charges
	Changes in operating assets and liabilities, net
	Net cash flows provided by operating activities
	Purchases of property, plant and equipment
	Acquisitions of intangible assets
	Proceeds from borrowings
	Repayments of borrowings
	Free cash flow to equity (FCFE)

Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Biogen Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Biogen Inc.’s FCFE declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.

Biogen Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding
Selected Financial Data (USD $)
Free cash flow to equity (FCFE) (in thousands)
FCFE per share
Current share price (P)
Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors
Abbott Laboratories
AbbVie Inc.
Allergan PLC
Amgen Inc.
Bristol-Myers Squibb Co.
Celgene Corp.
Eli Lilly & Co.
Gilead Sciences Inc.
Johnson & Johnson
Merck & Co. Inc.
Pfizer Inc.
Regeneron Pharmaceuticals Inc.
P/FCFE, Sector
Pharmaceuticals & Biotechnology
P/FCFE, Industry
Health Care

If company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.

Otherwise, if company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Biogen Inc., historical P/FCFE calculation, comparison to benchmarks

		Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
	No. shares of common stock outstanding¹
	Selected Financial Data (USD $)
	Free cash flow to equity (FCFE) (in thousands)²
	FCFE per share⁴
	Share price^1, 3
	Ratio
	P/FCFE⁵
	Benchmarks
	P/FCFE, Competitors
	Abbott Laboratories
	AbbVie Inc.
	Allergan PLC
	Amgen Inc.
	Bristol-Myers Squibb Co.
	Celgene Corp.
	Eli Lilly & Co.
	Gilead Sciences Inc.
	Johnson & Johnson
	Merck & Co. Inc.
	Pfizer Inc.
	Regeneron Pharmaceuticals Inc.
	P/FCFE, Sector
	Pharmaceuticals & Biotechnology
	P/FCFE, Industry
	Health Care

¹ Data adjusted for splits and stock dividends.

³ Close price on the filing date of Biogen Inc.’s Annual Report.

2018 Calculations

⁴ FCFE per share = FCFE ÷ No. shares of common stock outstanding
= hidden ÷ hidden = hidden

⁵ P/FCFE = Share price ÷ FCFE per share
= hidden ÷ hidden = hidden

Ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders’ equity.	Biogen Inc.’s P/FCFE ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018.

	Biogen Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality