Biogen annual debt-to-equity ratio
2010
2011
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2014
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2017
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2019
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2021
2022
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2024
2025
Biogen Debt-to-Equity Ratio Growth & History (BIIB)
Biogen's debt-to-equity ratio was 0.36 for fiscal 2025.
View full Biogen company overviewBiogen annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 0.36 | 0.07 | +22.70% |
| 2024 | 2024-12-31 | 0.30 | −0.19 | −39.57% |
| 2023 | 2023-12-31 | 0.49 | −0.01 | −1.82% |
| 2022 | 2022-12-31 | 0.50 | −0.11 | −18.46% |
| 2021 | 2021-12-31 | 0.61 | −0.13 | −16.92% |
| 2020 | 2020-12-31 | 0.74 | 0.37 | +99.49% |
| 2019 | 2019-12-31 | 0.37 | −0.08 | −18.59% |
| 2018 | 2018-12-31 | 0.46 | 0.46 | — |
| 2017 | 2017-12-31 | 0.00 | −0.00 | — |
| 2016 | 2016-12-31 | 0.00 | −0.00 | −30.05% |
| 2015 | 2015-12-31 | 0.00 | 0.00 | — |
| 2014 | 2014-12-31 | 0.00 | −0.07 | — |
| 2013 | 2013-12-31 | 0.07 | −0.03 | −30.40% |
| 2012 | 2012-12-31 | 0.10 | −0.06 | −38.02% |
| 2011 | 2011-12-31 | 0.16 | −0.03 | −16.95% |
| 2010 | 2010-12-31 | 0.19 | — | — |
Biogen quarterly debt-to-equity ratio
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Q4.11
Q4.12
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
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Q1.16
Q2.16
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Q2.17
Q3.17
Q4.17
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Q3.18
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Q1.19
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Q3.19
Q4.19
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Q2.21
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Q3.22
Q4.22
Q1.23
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Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.44 | 0.07 | +18.54% |
| Q1 2026 | 2026-03-31 | 0.35 | 0.06 | +22.60% |
| Q4 2025 | 2025-12-31 | 0.36 | 0.07 | +22.70% |
| Q3 2025 | 2025-09-30 | 0.36 | 0.06 | +20.77% |
| Q2 2025 | 2025-06-30 | 0.37 | −0.05 | −10.77% |
| Q1 2025 | 2025-03-31 | 0.29 | −0.15 | −34.81% |
| Q4 2024 | 2024-12-31 | 0.30 | −0.19 | −39.57% |
| Q3 2024 | 2024-09-30 | 0.30 | −0.20 | −39.84% |
| Q2 2024 | 2024-06-30 | 0.42 | −0.04 | −7.98% |
| Q1 2024 | 2024-03-31 | 0.44 | −0.04 | −8.12% |
| Q4 2023 | 2023-12-31 | 0.49 | −0.01 | −1.82% |
| Q3 2023 | 2023-09-30 | 0.50 | −0.02 | −4.07% |
| Q2 2023 | 2023-06-30 | 0.46 | −0.10 | −17.46% |
| Q1 2023 | 2023-03-31 | 0.48 | −0.11 | −18.25% |
| Q4 2022 | 2022-12-31 | 0.50 | −0.11 | −18.46% |
| Q3 2022 | 2022-09-30 | 0.52 | −0.12 | −18.19% |
| Q2 2022 | 2022-06-30 | 0.55 | −0.16 | −22.27% |
| Q1 2022 | 2022-03-31 | 0.59 | −0.13 | −18.14% |
| Q4 2021 | 2021-12-31 | 0.61 | −0.13 | −16.92% |
| Q3 2021 | 2021-09-30 | 0.63 | −0.09 | −12.83% |
| Q2 2021 | 2021-06-30 | 0.71 | 0.02 | +2.42% |
| Q1 2021 | 2021-03-31 | 0.72 | 0.33 | +84.68% |
| Q4 2020 | 2020-12-31 | 0.74 | 0.37 | +99.49% |
| Q3 2020 | 2020-09-30 | 0.73 | 0.38 | +106.33% |
| Q2 2020 | 2020-06-30 | 0.69 | 0.20 | +39.33% |
| Q1 2020 | 2020-03-31 | 0.39 | −0.08 | −16.91% |
| Q4 2019 | 2019-12-31 | 0.37 | −0.08 | −18.59% |
| Q3 2019 | 2019-09-30 | 0.35 | −0.08 | −18.09% |
| Q2 2019 | 2019-06-30 | 0.50 | 0.01 | +2.89% |
| Q1 2019 | 2019-03-31 | 0.47 | 0.04 | +10.57% |
| Q4 2018 | 2018-12-31 | 0.46 | 0.46 | — |
| Q3 2018 | 2018-09-30 | 0.43 | −0.03 | −6.70% |
| Q2 2018 | 2018-06-30 | 0.48 | −0.03 | −5.92% |
| Q1 2018 | 2018-03-31 | 0.42 | −0.10 | −18.64% |
| Q4 2017 | 2017-12-31 | 0.00 | −0.00 | — |
| Q3 2017 | 2017-09-30 | 0.46 | −0.08 | −14.31% |
| Q2 2017 | 2017-06-30 | 0.51 | −0.06 | −10.36% |
| Q1 2017 | 2017-03-31 | 0.52 | −0.11 | −18.06% |
| Q4 2016 | 2016-12-31 | 0.00 | −0.00 | −30.05% |
| Q3 2016 | 2016-09-30 | 0.54 | −0.08 | −12.74% |
| Q2 2016 | 2016-06-30 | 0.57 | 0.53 | +1151.01% |
| Q1 2016 | 2016-03-31 | 0.63 | 0.58 | +1171.57% |
| Q4 2015 | 2015-12-31 | 0.00 | 0.00 | — |
| Q3 2015 | 2015-09-30 | 0.62 | 0.56 | +1002.73% |
| Q2 2015 | 2015-06-30 | 0.05 | −0.02 | −25.23% |
| Q1 2015 | 2015-03-31 | 0.05 | −0.01 | −23.06% |
| Q4 2014 | 2014-12-31 | 0.00 | −0.07 | — |
| Q3 2014 | 2014-09-30 | 0.06 | −0.03 | −34.52% |
| Q2 2014 | 2014-06-30 | 0.06 | −0.03 | −33.32% |
| Q1 2014 | 2014-03-31 | 0.06 | — | — |
| Q4 2013 | 2013-12-31 | 0.07 | −0.03 | −30.40% |
| Q3 2013 | 2013-09-30 | 0.09 | — | — |
| Q2 2013 | 2013-06-30 | 0.09 | — | — |
| Q4 2012 | 2012-12-31 | 0.10 | −0.06 | −38.02% |
| Q4 2011 | 2011-12-31 | 0.16 | −0.03 | −16.95% |
| Q4 2010 | 2010-12-31 | 0.19 | — | — |
Biogen debt-to-equity ratio trends
Over the last five fiscal years, Biogen's debt-to-equity ratio decreased from 0.74 to 0.36, a change of −0.37. The latest reported quarter, Q2 2026, shows 0.44.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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