Biogen Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Biogen Inc (BIIB) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Biogen Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 9,937M vs 597,031M combined for tracked competitors (1.6% combined share).
- Trending: Latest-quarter revenue run-rate is holding steady (-0.3% annualized vs trailing 12 months), vs decelerating (-4.6%) for its tracked peer group.
- Growth: Biogen Inc generated 1.9% revenue growth year over year in Q1 2026, vs 11.6% for its tracked competitors combined.
- Profitability: Its 12.9% net margin compares with 13.7% for the peer group.
- Scale: Biogen Inc ranks #6 of 165 companies by market capitalization in the Biotechnology & Pharmaceuticals industry, holding 3.9% of industry market cap.
- Peer revenue share: Biogen Inc accounted for 1.7% of combined revenue among its tracked peer group, down from 1.9% a year earlier.
- Peer differentiation: Revenue per employee of $1.32M compares with $0.96M for the peer group (1.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BIIB Sales vs. its Competitors, Q1 2026
Biogen Inc reported revenue growth of 1.93 % year on year in Q1 2026, below its competitors' combined revenue growth of 11.61 %.
With a net margin of 12.89 %, Biogen Inc reported lower profitability than its competitors (13.68 %).
Biogen Inc generated 1.71 % of the combined sales of its peer group, down from 1.87 % a year earlier.
Biogen Inc vs. its Competitors, Q1 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Biogen Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Biogen Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (24) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Biogen Inc's competitor groups requires a Commercial License.
For context: the Biotechnology & Pharmaceuticals industry grew revenue 20.7% year over year, combined, vs 1.9% for Biogen Inc. Biogen Inc's share of combined industry revenue moved from 6.69% to 5.65%, a loss of 1.04 percentage points.
Biogen Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Biogen Inc | Yes | Yes | No | No |
| Competitors combined (129) | ||||
| High-Confidence Competitors (29) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 87.50 % (7 of 8) | 12.50 % (1 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BIIB Stock Performance relative to its Competitors
BIIB Stock Performance relative to High-Confidence Competitors
BIIB Stock Performance relative to Similar-Size Competitors
BIIB Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Ventyx Biosciences Inc | 282.9% | Outperformed |
| 2 | Iovance Biotherapeutics inc | 282.9% | Outperformed |
| 3 | Revolution Medicines Inc | 282.9% | Outperformed |
| 4 | Anaptysbio Inc | 282.9% | Outperformed |
| 5 | 180 Life Sciences Corp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Biogen Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Biogen Inc's Comment on Competition and Industry Peers
Competition in the biotechnology and pharmaceutical industries is intense and comes from many and varied sources, including specialized biotechnology firms and large pharmaceutical companies. Many of our competitors are working to develop products similar to those we are developing or already market and have considerable experience in undertaking clinical trials and in obtaining regulatory approval to market pharmaceutical products. Certain of these companies have substantially greater financial, marketing and research and development resources than we do.
We believe that competition and leadership in the industry is based on managerial and technological excellence and innovation as well as establishing patent and other proprietary positions through research and development. The achievement of a leadership position also depends largely upon our ability to identify and exploit commercially the products resulting from research and the availability of adequate financial resources to fund facilities, equipment, personnel, clinical testing, manufacturing and marketing. Another key aspect of remaining competitive within the industry is recruiting and retaining qualified scientists and technicians. We believe that we have been successful in attracting skilled and experienced scientific personnel.
Competition among products approved for sale may be based, among other things, on patent position, product efficacy, safety, convenience, reliability, availability and price. In addition, early entry of a new pharmaceutical product into the market may have important advantages in gaining product acceptance and market share. Accordingly, the relative speed with which we can develop products, complete the testing and approval process and supply commercial quantities of products will have an important impact on our competitive position.
We may face increased competitive pressures as a result of the emergence of
biosimilars. In the U.S., a number of our marketed products, including AVONEX,
TYSABRI and RITUXAN, are licensed under the Public Health Service Act (PHSA)
as biological products. In March 2010, U.S. healthcare reform legislation amended
the PHSA to authorize the FDA to approve biological products, known as biosimilars
or follow-on biologics, that are shown to be highly similar to previously approved
biological products based upon potentially abbreviated data packages. The approval
pathway for biosimilars does, however, grant a biologics manufacturer a 12 year
period of exclusivity from the date of approval of its biological product before
biosimilar competition can be introduced. Biosimilars legislation has also been
in place in the E.U. since 2003. In December 2012, guidelines issued by the
EMA for approving biosimilars of marketed monoclonal antibody products became
effective. If a biosimilar version of one of our products were approved, it
could reduce our sales of that product.
Additional information about the competition that our marketed products face
is set forth below.
AVONEX, TYSABRI and TECFIDERA
Each of AVONEX, TYSABRI and TECFIDERA competes with the following products:
Along with us, a number of companies are working to develop additional treatments
for MS that may in the future compete with AVONEX, TYSABRI, TECFIDERA or all
of them. For example, a marketing application for LEMTRADA (alemtuzumab) (developed
by Sanofi) has been approved in the E.U. as a treatment for MS in September
2013. In addition, the commercialization of our own products, such as TECFIDERA,
may negatively impact future sales of AVONEX, TYSABRI or both. Further, following
the expected expiration of Teva Pharmaceutical’s patent protection for
COPAXONE (May 2014 for its U.S. patents and in May 2015 for its European patents),
we anticipate that additional companies will introduce similar versions of COPAXONE
that may also create further competition in the MS market.
FAMPYRA
FAMPYRA is indicated as a treatment to improve walking in adult patients with
MS who have walking disability and is the first treatment that addresses this
unmet medical need with demonstrated efficacy in people with all types of MS.
FAMPYRA is currently the only therapy approved to improve walking in patients
with MS, and benefits from exclusivity rights that prohibit generic versions
from being marketed.
FUMADERM
FUMADERM competes with several different types of therapies in the psoriasis
market within Germany, including oral systemics such as methotrexate and cyclosporine.
RITUXAN IN ONCOLOGY
RITUXAN competes with several different types of therapies in the oncology market,
including:
TREANDA (bendamustine HCL) (marketed by Cephalon (Teva Pharmaceuticals)), which
is indicated for CLL and for patients with indolent B-cell NHL that has progressed
within 6 months of treatment with RITUXAN.
ARZERRA (ofatumumab) (marketed by GenMab in collaboration with GlaxoSmithKline),
which is indicated for CLL patients refractory to both alemtuzumab and fludarabine.
We also expect that over time GAZYVA will compete with RITUXAN, TREANDA AND
ARZERRA in the oncology market. In addition, we are aware of other anti-CD20
molecules, including biosimilars, in development that, if successfully developed
and registered, may compete with RITUXAN and GAZYVA in the oncology market.
RITUXAN IN RHEUMATOID ARTHRITIS (RA)
RITUXAN competes with several different types of therapies in the RA market,
including:
Traditional therapies for RA, including disease-modifying anti-rheumatic drugs
such as steroids, methotrexate and cyclosporine, and pain relievers such as
acetaminophen.
TNF inhibitors, such as REMICADE (infliximab) and SIMPONI and SIMPONI ARIA (golimumab)
(marketed by Johnson & Johnson), HUMIRA (adalimumab) (marketed by AbbVie,
Inc.), ENBREL (etanercept) (marketed by Amgen, Inc. and Pfizer) and CIMZIA (certolizumab
pegol) (marketed by UCB, S.A.).
ORENCIA (abatacept) (marketed by Bristol-Myers Squibb Company).
ACTEMRA (tocilizumab) (marketed by the Roche Group).
XELJANZ (tofacitinib) (marketed by Pfizer).
We are also aware of other products, including biosimilars, in development that,
if successfully developed and registered, may compete with RITUXAN in the RA
market.
Publicly Traded Peers of Biogen Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Biogen Inc | 33,937.60 | 9,937.40 |
| Eli Lilly And Company | 1,058,837.89 | 79,665.80 |
| Johnson and Johnson | 663,585.20 | 97,929.00 |
| Abbvie Inc | 471,581.88 | 64,386.00 |
| Merck and Co Inc | 367,264.30 | 66,569.00 |
| Novartis Ag | 287,150.40 | 56,674.00 |
| SUBTOTAL | 4,427,873.89 | 727,004.32 |
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Sources: Biogen Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Biogen Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Biogen Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Filana Therapeutics Inc | Named by the company | 85% |
| Acumen Pharmaceuticals Inc | Named by the company | 85% |
| Morphic Holding inc | Named by the company | 85% |
| Agentix Corp | Named by the company | 85% |
| Scholar Rock Holding Corp | Named by the company | 85% |
| Alcon inc | Named by the company | 85% |
| Crispr Therapeutics Ag | Named by the company | 85% |
| 4d Molecular Therapeutics Inc | Named by the company | 85% |
| Jupiter Neurosciences Inc | Named by the company | 85% |
| Neurosense Therapeutics Ltd | Named by the company | 85% |
| Redwoods Acquisition Corp | Named by the company | 85% |
| Voyager Therapeutics Inc | Named by the company | 85% |
| Centessa Pharmaceuticals Plc | Named by the company | 85% |
| Denali Therapeutics Inc | Named by the company | 85% |
| GLTO | Named by the company | 85% |
| MNMD | Named by the company | 85% |
| Promis Neurosciences inc | Named by the company | 85% |
| Tourmaline Bio Inc | Named by the company | 85% |
| Alector Inc | Named by the company | 85% |
| Definium Therapeutics Inc | Named by the company | 85% |
| Keros Therapeutics Inc | Named by the company | 85% |
| Ovid Therapeutics Inc | Named by the company | 85% |
| SAVA | Named by the company | 85% |
| Coya Therapeutics Inc | Named by the company | 85% |
| Fibrobiologics Inc | Named by the company | 85% |
| Janux Therapeutics Inc | Named by the company | 85% |
| Vaxxinity Inc | Named by the company | 85% |
| Anavex Life Sciences Corp | Named by the company | 85% |
| Damora Therapeutics Inc | Named by the company | 85% |
| Larimar Therapeutics Inc | Named by the company | 85% |
| Pliant Therapeutics Inc | Named by the company | 85% |
| Regeneron Pharmaceuticals Inc | Named by the company | 85% |
| Biovie Inc | Named by the company | 85% |
| Uniqure N v | Named by the company | 85% |
| Alzamend Neuro Inc | Named by the company | 85% |
| Range Impact Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Biogen Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Biogen Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Biogen Inc | Reportable 100.00 % |
| Eli Lilly And Company | Reportable 100.00 % |
| Johnson and Johnson | Oncology 29.26 % |
| Merck and Co Inc | Pharmaceutical segment 88.88 % |
| Amgen Inc | Reportable 100.00 % |
| Abbott Laboratories | Diabetes Care 17.78 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Biogen Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Biogen Inc | 33,938 | 1,324,987 | 182,920 |
| Eli Lilly And Company | 1,058,838 | 1,593,316 | 534,224 |
| Johnson and Johnson | 663,585 | 695,518 | 149,411 |
| Abbvie Inc | 471,582 | 1,129,579 | 110,807 |
| Merck and Co Inc | 367,264 | 887,587 | 42,267 |
| Novartis Ag | 287,150 | 752,973 | 185,566 |
| PEERS TOTAL | 4,393,936 | 963,748 | 142,992 |
Biogen Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Eli Lilly And Company | United States 61.21 % |
| Johnson and Johnson | United States 57.42 % |
| Merck and Co Inc | EMEA 23.60 % |
| Gilead Sciences Inc | United States 70.78 % |
| Abbott Laboratories | Non-US 61.62 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Biogen Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 159 companies in Biogen Inc's industry classification, broader than the peer set above. Market cap in millions of $.Biogen Inc ranks #6 of 159 companies by market capitalization in its industry, holding 3.89 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,331, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Amgen Inc | 226,707 | 26.02 % |
| 2 | Gilead Sciences Inc | 185,928 | 21.34 % |
| 3 | Moderna Inc | 76,517 | 8.78 % |
| 4 | Argenx Se | 63,326 | 7.27 % |
| 5 | Revolution Medicines Inc | 1,234 | 5.2% |
| 6 | Biogen Inc | 33,901 | 3.89 % |
| 7 | Biontech Se | 1,234 | 5.2% |
| 8 | Exelixis Inc | 1,234 | 5.2% |
| 9 | Neurocrine Biosciences Inc | 1,234 | 5.2% |
| 10 | Halozyme Therapeutics Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Biogen Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Biogen Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Amgen Inc | 226,707 | 53.68 % |
| 2 | Gilead Sciences Inc | 185,928 | 34.77 % |
| 3 | Moderna Inc | 76,517 | 681.21 % |
| 4 | Argenx Se | 63,326 | 34.87 % |
| 5 | Revolution Medicines Inc | 1,234 | 12.3% |
| 6 | Biogen Inc | 33,901 | 68.38 % |
| 7 | Biontech Se | 1,234 | 12.3% |
| 8 | Exelixis Inc | 1,234 | 12.3% |
| 9 | Neurocrine Biosciences Inc | 1,234 | 12.3% |
| 10 | Halozyme Therapeutics Inc | 1,234 | 12.3% |
| 11 | Twist Bioscience Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Biogen Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Biogen Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Biotechnology & Pharmaceuticals industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (93 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 75.49 % | 68.46 % (avg) | +7.0 pp |
| Operating Margin | 22.48 % | industry median | +226.0 pp |
| EBITDA Margin | 24.39 % | -0.94 % (avg) | +25.3 pp |
| Capital Intensity (Capex / Revenue) | 1.91 % | 6.74 % (avg) | -4.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Biogen Inc's Valuation vs Competitive Position
Valuation multiples vs the Biotechnology & Pharmaceuticals industry average (93 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 19.9x | 26.7x | -6.8x |
| EV / EBITDA | 13.8x | 21.3x | -7.5x |
| P/B | 1.5x | 5.1x | -3.6x |
| Return on Equity | 7.54 % | industry aggregate | -5.96 % |
| Return on Invested Capital | 5.03 % | -6.17 % (avg) | 11.20 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Biogen Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 9.61 % | 6.88 % | -6.49 % | -18.32 % | -7.36 % | -3.32 % | -1.62 % | 2.22 % |
| Operating Margin | 43.77 % | 48.98 % | 33.84 % | 25.87 % | 34.24 % | 18.62 % | 25.88 % | 22.30 % |
| Return on Invested Capital | 16.69 % | 19.31 % | 13.79 % | 8.94 % | 10.52 % | 4.91 % | 6.34 % | 5.12 % |
| P/E | 14.8x | 9.3x | 10.4x | 23.3x | 13.7x | 30.6x | 13.9x | 19.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Biogen Inc's Strategic Group Map
Every company in Biogen Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Biogen Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Biogen Inc's BCG Growth-Share Matrix
Relative market share (vs Biogen Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Biogen Inc falls in the Question Mark quadrant: relative market share of 0.15x vs its largest competitor, in an industry growing revenue 10.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Biogen Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,331 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 1.91 % vs industry average 6.74 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Biogen Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Biogen Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Biogen Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Biogen Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Biogen Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 226.0 points above the industry median.
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 6.0 points below the industry aggregate.
- Low relative market share vs the industry leader (0.15x).
Opportunities
- Industry revenue growing at a healthy 10.0% median pace.
- Trades at a lower P/E than the industry average (19.9x vs 26.7x) despite a higher return on invested capital -- a possible re-rating opportunity.
- A meaningful share of tracked competitors (42.50 %) show financial-distress signals, a possible opening to gain share.
Threats
- Losing revenue share to the broader industry (-1.0 points over the past year).
- Tracked peer group's revenue run-rate is broadly decelerating (-4.6% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Biogen Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Biogen Inc | - | 2.74 | 0.35 |
| Eli Lilly And Company | 0.20 | 1.48 | 1.59 |
| Johnson and Johnson | 0.37 | 1.05 | 0.60 |
| Abbvie Inc | 0.16 | 0.75 | - |
| Merck and Co Inc | 0.40 | 1.46 | 1.01 |
| Novartis Ag | 0.42 | 1.12 | 0.02 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Biogen Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Biogen Inc | Q1 2026 | +1.9 % | +32.8 % |
| Eli Lilly And Company | Q2 2026 | +47.7 % | +25.3 % |
| Johnson and Johnson | Q2 2026 | +6.6 % | -0.1 % |
| Abbvie Inc | Q2 2026 | +10.2 % | +284.3 % |
| Merck and Co Inc | Q2 2026 | +5.1 % | - |
| Novartis Ag | Q4 2025 | +9.6 % | +17.0 % |
| PEERS TOTAL | +11.9 % | -18.0 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Biogen Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Biogen Inc | Q1 2026 | +5.0 % | +8.7 % |
| Eli Lilly And Company | Q2 2026 | +33.5 % | +72.8 % |
| Johnson and Johnson | Q2 2026 | +5.5 % | +26.7 % |
| Abbvie Inc | Q2 2026 | -1.3 % | +19.7 % |
| Merck and Co Inc | Q2 2026 | +23.6 % | +16.9 % |
| Novartis Ag | Q4 2025 | +18.3 % | +13.3 % |
Biogen Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Biogen Inc | 4.71% | 5.23% | 7.54% |
| Eli Lilly And Company | 21.97% | 33.95% | 92.54% |
| Johnson and Johnson | 10.60% | 13.30% | 25.74% |
| Abbvie Inc | 4.68% | 9.11% | - |
| Merck and Co Inc | 2.42% | 3.24% | 6.59% |
| Novartis Ag | 12.59% | 12.62% | 30.00% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Biogen Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Biogen Inc | 24.53 | 3.42 |
| Eli Lilly And Company | 39.77 | 13.29 |
| Johnson and Johnson | 31.48 | 6.78 |
| Abbvie Inc | 75.22 | 7.32 |
| Merck and Co Inc | 119.91 | 5.52 |
| Novartis Ag | 20.53 | 5.07 |
| PEERS AVERAGE | 41.09 | 6.09 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.