Biogen Inc. (BIIB)财务
NASDAQ · Healthcare · Drug Manufacturers - General · 员工7,500人 · CEO Christopher A. Viehbacher
- 股价
- $253.62 +1.59%
- 市值
- $375亿
- 企业价值
- $440亿
- 最近财报
- Q3 '26 2026-10-28提交
- 下次财报
- 2027-02-05 EPS预期 $2.85
营收(TTM)$103亿+3.1% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)7.6%-16.8 百分点 对比去年同期营业利润 $7.87亿
净利润(TTM)$3.48亿-78.4% 对比去年同期税后,含营业外收益
自由现金流(TTM)$23.4亿+2.9% 对比去年同期资本支出 -$9560万
稀释EPS(TTM)$2.34-78.7% 对比去年同期最近4个季度之和
净现金-$65亿-147.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $375亿 EV $440亿
- 营收
- $103亿 过去12个月
- 营收增速
- +8% FY2026年一致预期
- 净利润率
- 3.4% 净利润 / 营收,TTM
- P/E
- 107.5× 预期 20.3×(FY2026)
- P/S
- 3.6× 股价 / 营收,TTM
- EV / EBITDA
- 30.4× TTM
- 自由现金流
- $23.4亿 过去12个月
- 净利润
- $3.48亿 过去12个月
- 营收预期
- $106亿 FY2026年一致预期
- 盈利
- 2027-02-05 营收预期 $25.8亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-28):营收超预期6.4%,EPS 超预期31.7%营收$28亿,预期$26.3亿(+6.4%);EPS $2.62,预期$1.99(+31.7%)。
- 营收增长加速:同比14.2%Q3 '26营收$28亿,此前四个季度的平均值为-0.6%。
- 营业利润率7.6%(TTM),较去年同期-16.8 百分点营收增长3.1%,营业利润增长-67.8%。
- 税前利润的171.3%被营业外亏损吞噬税前利润$2.9亿,营业利润$7.87亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的0.9%(去年为1.8%)最近4个季度投入$9560万(同比-45.7%)。自由现金流$23.4亿,相当于净利润的673.2%。
- 稀释股数一年内增加0.5%Q3 '26稀释股数1.48亿,一年前为1.47亿。
- 净债务 $65亿现金 + 短期投资 $13亿,含租赁债务 $78亿;一年前净债务 $26.3亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $28亿 | $24.5亿 | +14.2% |
| 毛利率 | 73.3% | 64.3% | +9.0 百分点 |
| 营业利润 | $1.28亿 | $6.14亿 | -79.1% |
| 营业利润率 | 4.6% | 25.0% | -20.4 百分点 |
| 净利润 | -$2060万 | $4.67亿 | -104.4% |
| 稀释EPS | -$0.14 | $3.17 | -104.4% |
| 经营现金流 | $6.41亿 | $12.7亿 | -49.6% |
| 资本支出 | $4040万 | $4620万 | -12.6% |
| 自由现金流 | $6亿 | $12.3亿 | -51.0% |
| R&D | $5.74亿 | $3.7亿 | +55.3% |
| 股权激励费用 | $8150万 | $7530万 | +8.2% |
实际 vs 一致预期
2026-10-28| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $28亿 | $26.3亿 | +6.4% |
| EPS(一致预期口径) | $2.62 | $1.99 | +31.7% |
来自2026-10-28发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| MS Product Revenues | $9.19亿 | -13.4% | 40.0% | $37.6亿 | -10.4% | |
| TYSABRI product | $4.37亿 | +1.2% | 19.0% | $17.3亿 | +2.6% | |
| SPINRAZA | $4.61亿 | +23.2% | 20.0% | $15.9亿 | -1.2% | |
| Fumarate | $2.74亿 | -28.4% | 11.9% | $11.4亿 | -25.7% | |
| Interferon | $2.08亿 | -15.7% | 9.1% | $8.87亿 | -7.3% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $12.7亿 | +35.3% | 60.6% | $32.2亿 | -7.0% | |
| Non-US | $8.24亿 | -9.6% | 39.4% | $32.9亿 | -14.0% |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $22.5亿
- 资本支出
- $9560万
- 股票回购
- $0
- 股息
- $0
- 收购
- -$600万
- 债务净发行
- -$4亿
- 股权激励费用
- $1.41亿
- 自由现金流
- $23.4亿
- 股东回报 / FCF
- -0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 107.5× | 20.4× | 13.2× – 32.3× |
| EV / EBITDA | 30.4× | 12.0× | 8.9× – 18.4× |
| EV / 营收 | 4.3× | 3.6× | 2.7× – 4.4× |
| 股价 / FCF | 16.0× | 19.5× | 8.9× – 35.2× |
| 股价 / 净资产 | 2.0× | 2.3× | 1.3× – 3.3× |
| FCF收益率 | 6.2% | 7.0% | 2.8% – 11.3% |
| 投入资本回报率 | 2.8% | 9.5% | 6.6% – 13.2% |
| 净资产收益率 | 1.9% | 12.3% | 7.1% – 22.7% |
分析师
一致目标价 $253.89 (+0.1%)
区间 $175.00 – $300.00 · 评级 Buy
强烈买入0
买入33
持有15
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $106亿 | +7.5% | $12.47 | +41.2% | 20.3× | 19 |
| FY2027 | $108亿 | +2.0% | $16.27 | +30.5% | 15.6× | 20 |
| FY2028 | $111亿 | +3.2% | $18.34 | +12.7% | 13.8× | 11 |
| FY2029 | $114亿 | +3.1% | $20.38 | +11.1% | 12.4× | 4 |
| FY2030 | $117亿 | +1.9% | $21.08 | +3.4% | 12.0× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Biogen Inc.在近期10-Q / 10-K文件中标记的全部323项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $4.3亿 | $4.13亿 | +4.2% | $4.32亿 | $4.24亿 | +1.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $13.4亿2025-12-31 | $14亿 | -4.4% | $13.4亿 | $14亿 | -4.4% |
| Accounts Receivable, Allowance for Credit Loss, Current | $310万 | $220万 | +40.9% | $300万 | $220万 | +36.4% |
| Accrued Income Taxes, Noncurrent | $1.79亿 | $1.65亿 | +8.7% | $1.66亿 | $1.57亿 | +6.2% |
| Accrued Royalties, Current | $3.2亿2025-09-30 | $1.79亿 | +79.2% | $2.21亿2019-12-31 | $2.25亿 | -1.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $31亿 | $28.7亿 | +8.1% | $29.3亿 | $26.7亿 | +9.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.2亿 | -$2.15亿 | +44.0% | -$1.82亿 | -$1.36亿 | -33.6% |
| Additional Paid in Capital | $10.7亿 | $7.98亿 | +34.2% | $8.63亿 | $5.69亿 | +51.6% |
| Advertising Expense | – | – | – | $7190万 | $6680万 | +7.6% |
| Amortization of Intangible Assets | $1.73亿 | $1.36亿 | +27.3% | $5.07亿 | $3.87亿 | +31.2% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $8420万 | $7840万 | +7.4% | – | – | – |
| APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition | – | – | – | $3.03亿 | $3.02亿 | +0.5% |
| Asset Impairment Charges | $0 | $0 | – | $0 | $0 | – |
| Assets | $321亿 | $292亿 | +9.7% | $294亿 | $280亿 | +5.0% |
| Assets, Current | $75.8亿 | $89.4亿 | -15.1% | $89.7亿 | $74.6亿 | +20.3% |
| Assets, Fair Value Disclosure | $8.61亿 | – | – | $36.9亿 | $19.5亿 | +89.1% |
| Buildings and Improvements, Gross | $21.4亿2025-12-31 | $19.6亿 | +9.0% | $21.4亿 | $19.6亿 | +9.0% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $40万 | $560万 | -92.9% | – | – | – |
| Business Combination, Contingent Consideration, Liability, Current | $1.52亿 | $1.49亿 | +2.6% | $2.91亿2024-12-31 | – | – |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $1.22亿 | $2.43亿 | -49.9% | $2.46亿 | $2.22亿 | +11.2% |
| Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | $02026-05-14 | – | – | – | – | – |
| Cash and Cash Equivalents, Fair Value Disclosure | $6.28亿 | – | – | $22.3亿 | $16.6亿 | +34.1% |
| Cash Equivalents, at Carrying Value | $6.28亿 | $34亿 | -81.5% | $22.3亿 | $16.6亿 | +34.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $13亿 | $38.6亿 | -66.2% | $30.1亿 | $23.8亿 | +26.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect | $2490万 | $11.1亿 | -97.8% | $5.32亿 | $13.9亿 | -61.8% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 10亿2025-12-31 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 1.71亿2025-12-31 | 1.7亿 | +0.6% | 1.71亿 | 1.7亿 | +0.6% |
| Common Stock, Shares, Outstanding | 1.47亿2025-12-31 | 1.46亿 | +0.7% | 1.47亿 | 1.46亿 | +0.7% |
| Common Stock, Value, Issued | $10万 | $10万 | 0.0% | $10万2022-12-31 | $10万 | 0.0% |
| Common Stock, Value, Outstanding | $10万2025-12-31 | $10万 | 0.0% | $10万 | $10万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | – | – | – | $0 | $0 | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$1320万 | $4.9亿 | -102.7% | $12.5亿 | $16.5亿 | -24.4% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | – | – | – | $12.5亿 | $16.5亿 | -24.4% |
| Construction in Progress, Gross | $1.63亿2025-12-31 | $3.08亿 | -47.1% | $1.63亿 | $3.08亿 | -47.1% |
| Construction Payable | $8910万2025-09-30 | – | – | $7800万2019-12-31 | $1.25亿 | -37.7% |
| Cost of Goods and Services Sold | $7.48亿 | $6.74亿 | +11.0% | $24亿 | $23.1亿 | +4.1% |
| Costs and Expenses | $28.1亿 | $19.8亿 | +42.3% | $83.3亿 | $77.7亿 | +7.3% |
| Current Federal Tax Expense (Benefit) | – | – | – | $1010万 | $4.49亿 | -97.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | -$1.55亿 | -$6750万 | -130.2% |
| Current Income Tax Expense (Benefit) | – | – | – | -$9800万 | $4.32亿 | -122.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4730万 | $5050万 | -6.3% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $2.81亿2025-12-31 | $2.72亿 | +3.3% | $2.81亿 | $2.72亿 | +3.3% |
| Debt Securities, Available-for-sale | $13.7亿2026-03-31 | – | – | $12.4亿 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $02026-03-31 | – | – | $20万 | – | – |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $200万2026-03-31 | – | – | $0 | – | – |
| Debt Securities, Available-for-sale, Amortized Cost | $13.7亿2026-03-31 | – | – | $12.4亿 | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $4.56亿2026-03-31 | – | – | $4.19亿 | – | – |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $9.01亿2026-03-31 | – | – | $8.07亿 | – | – |
| Debt Securities, Available-for-sale, Current | $0 | $9760万 | -100.0% | $8.07亿 | $0 | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $4.55亿2026-03-31 | – | – | $4.2亿 | – | – |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $9亿2026-03-31 | – | – | $8.07亿 | – | – |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | $13.7亿2026-03-31 | – | – | $12.4亿 | – | – |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | $13.7亿2026-03-31 | – | – | $12.4亿 | – | – |
| Debt Securities, Available-for-sale, Noncurrent | $0 | – | – | $4.32亿 | $0 | – |
| Debt Securities, Available-for-sale, Realized Gain | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Available-for-sale, Realized Loss | $0 | $0 | – | $0 | $0 | – |
| Debt, Current | $02025-12-31 | $17.5亿 | -100.0% | $0 | $17.5亿 | -100.0% |
| Decrease in Unrecognized Tax Benefits is Reasonably Possible | $3500万2025-09-30 | $5500万 | -36.4% | $4500万2024-12-31 | $2000万 | +125.0% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $3.46亿 | -$1.55亿 | +324.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02