Biogen annual free cash flow
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2025
Biogen Free Cash Flow (FCF) History (BIIB)
Biogen reported $2.05B in free cash flow for fiscal 2025, a decrease of 24.65% from the previous fiscal year, with a free cash flow margin of 20.73%.
View full Biogen company overviewBiogen free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $2.05B | −$671.0M | −24.65% | +20.73% |
| 2024 | 2024-12-31 | $2.72B | $1.45B | +114.28% | +28.13% |
| 2023 | 2023-12-31 | $1.27B | $126.2M | +11.03% | +12.91% |
| 2022 | 2022-12-31 | $1.14B | −$2.24B | −66.17% | +11.25% |
| 2021 | 2021-12-31 | $3.38B | −$423.2M | −11.12% | +30.79% |
| 2020 | 2020-12-31 | $3.81B | −$2.76B | −42.03% | +28.30% |
| 2019 | 2019-12-31 | $6.56B | $1.15B | +21.17% | +45.65% |
| 2018 | 2018-12-31 | $5.42B | $1.73B | +47.06% | +40.27% |
| 2017 | 2017-12-31 | $3.68B | −$287.5M | −7.24% | +30.01% |
| 2016 | 2016-12-31 | $3.97B | $694.7M | +21.20% | +34.69% |
| 2015 | 2015-12-31 | $3.28B | $622.1M | +23.44% | +30.44% |
| 2014 | 2014-12-31 | $2.65B | $555.5M | +26.47% | +27.35% |
| 2013 | 2013-12-31 | $2.10B | $473.5M | +29.13% | +30.28% |
| 2012 | 2012-12-31 | $1.63B | $105.6M | +6.95% | +29.46% |
| 2011 | 2011-12-31 | $1.52B | $68.1M | +4.69% | +30.10% |
| 2010 | 2010-12-31 | $1.45B | $542.4M | +59.65% | +30.78% |
| 2009 | 2009-12-31 | $909.3M | −$377.2M | −29.32% | +20.77% |
| 2008 | 2008-12-31 | $1.29B | $551.8M | +75.12% | +31.40% |
| 2007 | 2007-12-31 | $734.6M | — | — | +23.16% |
Biogen quarterly free cash flow
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Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | $594.3M | $372.1M | +167.46% | +23.98% |
| Q4 2025 | 2025-12-31 | $468.0M | −$253.6M | −35.14% | +20.53% |
| Q3 2025 | 2025-09-30 | $1.23B | $325.7M | +36.16% | +48.38% |
| Q2 2025 | 2025-06-30 | $134.3M | −$458.0M | −77.33% | +5.08% |
| Q1 2025 | 2025-03-31 | $222.2M | −$285.1M | −56.20% | +9.14% |
| Q4 2024 | 2024-12-31 | $721.6M | $774.3M | — | +29.40% |
| Q3 2024 | 2024-09-30 | $900.6M | $382.4M | +73.79% | +36.52% |
| Q2 2024 | 2024-06-30 | $592.3M | $176.3M | +42.38% | +24.03% |
| Q1 2024 | 2024-03-31 | $507.3M | $118.6M | +30.51% | +22.15% |
| Q4 2023 | 2023-12-31 | −$52.7M | $208.7M | — | −2.21% |
| Q3 2023 | 2023-09-30 | $518.2M | −$83.7M | −13.91% | +20.48% |
| Q2 2023 | 2023-06-30 | $416.0M | −$283.6M | −40.54% | +16.94% |
| Q1 2023 | 2023-03-31 | $388.7M | $284.8M | +274.11% | +15.78% |
| Q4 2022 | 2022-12-31 | −$261.4M | −$1.05B | — | −10.28% |
| Q3 2022 | 2022-09-30 | $601.9M | −$161.4M | −21.15% | +23.99% |
| Q2 2022 | 2022-06-30 | $699.6M | −$455.8M | −39.45% | +27.02% |
| Q1 2022 | 2022-03-31 | $103.9M | −$572.5M | −84.64% | +4.10% |
| Q4 2021 | 2021-12-31 | $786.7M | $1.24B | — | +28.78% |
| Q3 2021 | 2021-09-30 | $763.3M | −$333.7M | −30.42% | +27.47% |
| Q2 2021 | 2021-06-30 | $1.16B | −$688.1M | −37.33% | +41.64% |
| Q1 2021 | 2021-03-31 | $676.4M | −$641.2M | −48.66% | +25.11% |
| Q4 2020 | 2020-12-31 | −$453.1M | −$2.30B | — | −15.88% |
| Q3 2020 | 2020-09-30 | $1.10B | −$507.8M | −31.64% | +32.49% |
| Q2 2020 | 2020-06-30 | $1.84B | $66.4M | +3.74% | +50.07% |
| Q1 2020 | 2020-03-31 | $1.32B | −$14.8M | −1.11% | +37.28% |
| Q4 2019 | 2019-12-31 | $1.85B | $180.3M | +10.80% | +50.39% |
| Q3 2019 | 2019-09-30 | $1.60B | $32.1M | +2.04% | +44.58% |
| Q2 2019 | 2019-06-30 | $1.78B | $864.6M | +94.75% | +49.14% |
| Q1 2019 | 2019-03-31 | $1.33B | $70.0M | +5.54% | +38.18% |
| Q4 2018 | 2018-12-31 | $1.67B | $381.8M | +29.65% | +47.34% |
| Q3 2018 | 2018-09-30 | $1.57B | $173.5M | +12.40% | +45.73% |
| Q2 2018 | 2018-06-30 | $912.5M | −$59.0M | −6.07% | +27.19% |
| Q1 2018 | 2018-03-31 | $1.26B | $1.24B | +4909.52% | +40.32% |
| Q4 2017 | 2017-12-31 | $1.29B | −$112.1M | −8.01% | +38.94% |
| Q3 2017 | 2017-09-30 | $1.40B | $578.2M | +70.43% | +45.46% |
| Q2 2017 | 2017-06-30 | $971.5M | $110.1M | +12.78% | +31.56% |
| Q1 2017 | 2017-03-31 | $25.2M | −$863.7M | −97.17% | +0.90% |
| Q4 2016 | 2016-12-31 | $1.40B | $342.2M | +32.36% | +48.74% |
| Q3 2016 | 2016-09-30 | $821.0M | $154.8M | +23.24% | +27.78% |
| Q2 2016 | 2016-06-30 | $861.4M | −$56.0M | −6.10% | +29.76% |
| Q1 2016 | 2016-03-31 | $888.9M | $253.7M | +39.94% | +32.60% |
| Q4 2015 | 2015-12-31 | $1.06B | $231.7M | +28.05% | +37.25% |
| Q3 2015 | 2015-09-30 | $666.2M | −$185.3M | −21.76% | +23.98% |
| Q2 2015 | 2015-06-30 | $917.4M | −$9.2M | −0.99% | +35.40% |
| Q1 2015 | 2015-03-31 | $635.2M | $584.9M | +1162.32% | +24.86% |
| Q4 2014 | 2014-12-31 | $825.9M | $35.5M | +4.50% | +31.28% |
| Q3 2014 | 2014-09-30 | $851.5M | $259.8M | +43.90% | +33.90% |
| Q2 2014 | 2014-06-30 | $926.6M | $355.5M | +62.26% | +38.27% |
| Q1 2014 | 2014-03-31 | $50.3M | −$95.3M | −65.45% | +2.36% |
| Q4 2013 | 2013-12-31 | $790.4M | $351.5M | +80.09% | +40.20% |
| Q3 2013 | 2013-09-30 | $591.7M | $108.0M | +22.33% | +32.37% |
| Q2 2013 | 2013-06-30 | $571.1M | $8.4M | +1.49% | +33.13% |
| Q1 2013 | 2013-03-31 | $145.7M | $5.6M | +3.98% | +10.29% |
| Q4 2012 | 2012-12-31 | $438.9M | $35.3M | +8.76% | +30.95% |
| Q3 2012 | 2012-09-30 | $483.7M | −$35.5M | −6.83% | +34.91% |
| Q2 2012 | 2012-06-30 | $562.7M | $187.1M | +49.82% | +39.60% |
| Q1 2012 | 2012-03-31 | $140.1M | −$81.4M | −36.74% | +10.84% |
| Q4 2011 | 2011-12-31 | $403.5M | $21.3M | +5.58% | +30.42% |
| Q3 2011 | 2011-09-30 | $519.2M | $129.9M | +33.37% | +39.63% |
| Q2 2011 | 2011-06-30 | $375.6M | −$5.8M | −1.53% | +31.07% |
| Q1 2011 | 2011-03-31 | $221.4M | −$77.3M | −25.86% | +18.40% |
| Q4 2010 | 2010-12-31 | $382.2M | $158.4M | +70.77% | +31.35% |
| Q3 2010 | 2010-09-30 | $389.3M | $161.4M | +70.85% | +33.11% |
| Q2 2010 | 2010-06-30 | $381.4M | $187.6M | +96.74% | +31.45% |
| Q1 2010 | 2010-03-31 | $298.7M | $35.0M | +13.26% | +26.94% |
| Q4 2009 | 2009-12-31 | $223.8M | $90.7M | +68.11% | +19.86% |
| Q3 2009 | 2009-09-30 | $227.8M | — | — | +20.33% |
| Q2 2009 | 2009-06-30 | $193.9M | — | — | +17.73% |
| Q1 2009 | 2009-03-31 | $263.7M | — | — | +25.44% |
| Q3 2008 | 2008-09-30 | $133.1M | — | — | +12.18% |
Biogen free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $3.81B to $2.05B, a compound annual decline of 11.63%. Biogen's latest reported quarter, Q1 2026, generated $594.3M in free cash flow, an increase of 167.46% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Biogen filings at SEC.gov ↗