What is the primary revenue source for Biogen (BIIB)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze BIIB's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Biogen's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Biogen Makes Money: BIIB Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

The largest revenue segment accounts for 70.37% of revenue, indicating concentration.

Revenue: USD 5.21B
Largest revenue segment share (Product): 70.37%
Cost of revenue: USD 1.44B
Selling, general and administrative: USD 1.32B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Largest revenue segment share (Product)Product · segment_value / revenue * 100
RevenueTotal revenue · Revenues
Cost of revenueCost of sales, excluding amortization and impairment of acquired intangible assets · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general and administrative · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Goodwill: USD 6.99B
Property, plant and equipment: USD 2.99B
Inventory: USD 2.38B
Total liabilities: USD 13.24B
Shareholder equity: USD 18.85B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, plant, and equipment, after accumulated depreciation, depletion, and amortization · PropertyPlantAndEquipmentNet
Shareholder equityTotal equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
InventoryInventory, current · InventoryNet

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 259.62% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 417.00M
Operating cash flow: USD 1.08B
Cash conversion: 259.62%
Free cash flow: USD 990.50M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to biogen inc. · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

There was no material cash return; earnings stayed in the business without significant dilution.

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?