Biogen Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Biogen Inc. reported net income of $1.29B on revenue of $9.89B. Operating cash flow was $2.20B and capital expenditures were $153.80M, leaving $2.05B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.45B | $12.27B | $13.45B | $14.38B | $13.44B | $10.98B | $10.17B | $9.84B | $9.68B | $9.89B |
| Gross profit | $9.97B | $10.64B | $11.64B | $12.42B | $11.64B | — | — | — | — | — |
| Operating income | $5.15B | $5.35B | $5.89B | $7.04B | $4.55B | $2.84B | — | — | — | — |
| Net income | $3.70B | $2.54B | $4.43B | $5.89B | $4.00B | $1.56B | $3.05B | $1.16B | $1.63B | $1.29B |
| Diluted EPS | $16.93 | $11.92 | $21.58 | $31.42 | $24.80 | $10.40 | $20.87 | $7.97 | $11.18 | $8.79 |
| Operating cash flow | $4.59B | $4.55B | $6.19B | $7.08B | $4.23B | $3.64B | $1.38B | $1.55B | $2.88B | $2.20B |
| Capital expenditures | $616.10M | $867.40M | $770.60M | $514.50M | $424.80M | $258.10M | $240.30M | $277.00M | $153.70M | $153.80M |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | — | 13.1% |
| Dec 2024 | — | — | 16.9% |
| Dec 2023 | — | — | 11.8% |
| Dec 2022 | — | — | 29.9% |
| Dec 2021 | — | 25.9% | 14.2% |
Source: SEC EDGAR XBRL company facts for CIK 875045 (raw data). Most recent filing in this dataset: 10-Q filed Oct 28, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.