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Biogen Valuation Multiples
Discover revenue and EBITDA valuation multiples for Biogen and similar public comparables like Astellas Pharma, Hansoh Pharma, Insmed, BioNTech and more.
Biogen Overview
About Biogen
Biogen is an established biopharmaceutical company focused on treatments for neurodegenerative and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 40% of total revenue in 2025. Biogen also generates significant revenue from its CD20 collaboration agreements with Roche (19% of total in 2025), which includes oncology drugs Rituxan and Gazyva and multiple sclerosis drug Ocrevus. Biogen's newer franchises include Spinraza (spinal muscular atrophy, with partner Ionis), Leqembi (Alzheimer's disease, collabroation revenue from its partner Eisai), Skyclarys (Friedreich's ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (amyotrophic lateral sclerosis, Ionis).
Founded
1997
HQ
Employees
7.5K
Website
Sectors
Financials (LTM)
EV
$30B
Biogen Financials
Biogen reported last 12-month revenue of $10B and EBITDA of $3B.
In the same LTM period, Biogen generated $8B in gross profit, $3B in EBITDA, and $2B in net income.
Revenue (LTM)
Biogen P&L
In the most recent fiscal year, Biogen reported revenue of $10B and EBITDA of $3B.
Biogen expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $10B | XXX | $10B | XXX | XXX | XXX |
| Gross Profit | $8B | XXX | $7B | XXX | XXX | XXX |
| Gross Margin | 78% | XXX | 76% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 26% | XXX | XXX | XXX |
| EBIT Margin | 29% | XXX | 25% | XXX | XXX | XXX |
| Net Profit | $2B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 23% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | — | — | $3B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Biogen Stock Performance
Biogen has current market cap of $28B, and enterprise value of $30B.
Market Cap Evolution
Biogen's stock price is $188.05.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $30B | $28B | 2.3% | XXX | XXX | XXX | $8.81 |
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Start Free TrialBiogen Valuation Multiples
Biogen trades at 3.1x EV/Revenue multiple, and 9.9x EV/EBITDA.
EV / Revenue (LTM)
Biogen Financial Valuation Multiples
As of April 4, 2026, Biogen has market cap of $28B and EV of $30B.
Equity research analysts estimate Biogen's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Biogen has a P/E ratio of 12.2x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $28B | XXX | $28B | XXX | XXX | XXX |
| EV (current) | $30B | XXX | $30B | XXX | XXX | XXX |
| EV/Revenue | 3.1x | XXX | 3.1x | XXX | XXX | XXX |
| EV/EBITDA | 9.9x | XXX | 11.7x | XXX | XXX | XXX |
| EV/EBIT | 10.7x | XXX | 12.3x | XXX | XXX | XXX |
| EV/Gross Profit | 4.0x | XXX | 4.1x | XXX | XXX | XXX |
| P/E | 12.2x | XXX | 21.3x | XXX | XXX | XXX |
| EV/FCF | 14.2x | XXX | 15.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Biogen Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Biogen Margins & Growth Rates
Biogen's revenue in the last 12 month declined by (2%).
Biogen's revenue per employee in the last FY averaged $1.3M, while opex per employee averaged $0.7M for the same period.
Biogen Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | (2%) | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | 26% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | (8%) | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.3M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| R&D Expenses to Revenue | 18% | XXX | 18% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 51% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Biogen Public Comps
See public comps and valuation multiples for other Biopharmaceuticals comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Astellas Pharma | XXX | XXX | XXX | XXX | XXX | XXX |
| Hansoh Pharma | XXX | XXX | XXX | XXX | XXX | XXX |
| Insmed | XXX | XXX | XXX | XXX | XXX | XXX |
| BioNTech | XXX | XXX | XXX | XXX | XXX | XXX |
| United Therapeutics | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Biogen M&A Activity
Biogen acquired XXX companies to date.
Last acquisition by Biogen was on XXXXXXXX, XXXXX. Biogen acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Biogen
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialBiogen Investment Activity
Biogen invested in XXX companies to date.
Biogen made its latest investment on XXXXXXXX, XXXXX. Biogen invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Biogen
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Biogen
| When was Biogen founded? | Biogen was founded in 1997. |
| Where is Biogen headquartered? | Biogen is headquartered in United States. |
| How many employees does Biogen have? | As of today, Biogen has over 7K employees. |
| Who is the CEO of Biogen? | Biogen's CEO is Christopher A. Viehbacher. |
| Is Biogen publicly listed? | Yes, Biogen is a public company listed on Nasdaq. |
| What is the stock symbol of Biogen? | Biogen trades under BIIB ticker. |
| When did Biogen go public? | Biogen went public in 1991. |
| Who are competitors of Biogen? | Biogen main competitors are Astellas Pharma, Hansoh Pharma, Insmed, BioNTech. |
| What is the current market cap of Biogen? | Biogen's current market cap is $28B. |
| What is the current revenue of Biogen? | Biogen's last 12 months revenue is $10B. |
| What is the current revenue growth of Biogen? | Biogen revenue growth (NTM/LTM) is (2%). |
| What is the current EV/Revenue multiple of Biogen? | Current revenue multiple of Biogen is 3.1x. |
| Is Biogen profitable? | Yes, Biogen is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Biogen? | Biogen's last 12 months EBITDA is $3B. |
| What is Biogen's EBITDA margin? | Biogen's last 12 months EBITDA margin is 31%. |
| What is the current EV/EBITDA multiple of Biogen? | Current EBITDA multiple of Biogen is 9.9x. |
| What is the current FCF of Biogen? | Biogen's last 12 months FCF is $2B. |
| What is Biogen's FCF margin? | Biogen's last 12 months FCF margin is 22%. |
| What is the current EV/FCF multiple of Biogen? | Current FCF multiple of Biogen is 14.2x. |
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