Biogen (BIIB) Free Cash Flow (2009 - 2026)
Biogen (BIIB) recorded Free Cash Flow of $600.4 million in Q3 2026, down 51.0% from $1.23 billion a year earlier but up 47.2% from the prior quarter.
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Analysis
Biogen (BIIB) Free Cash Flow (2009 - 2026) Analysis & Trends
On a TTM basis, Biogen's Free Cash Flow came in at $2.07 billion as of Sep 30, 2026, down 10.1% year-over-year; for FY2025, it came in at $2.05 billion, down 24.7% from FY2024.
- Annual Free Cash Flow has a five-year compound annual growth rate of -11.6% (FY2020 to FY2025).
- Across earlier years, Free Cash Flow came in at $2.72 billion in FY2024 (+114.3%), $1.27 billion in FY2023 (+11.0%), $1.14 billion in FY2022 (-66.2%) and $3.38 billion in FY2021 (-11.1%).
- Quarterly Free Cash Flow has ranged from -$261.4 million in Q4 2022 to $1.23 billion in Q3 2025 over the past five years.
- On a year-over-year basis, Free Cash Flow rose in three of the last seven quarters, with growth averaging 26.8%.
- Peak year-over-year performance for Free Cash Flow in the last five years was growth of 274.1% in Q1 2023, against a decline of 84.6% in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $408 million (Q2 2026), $594.3 million (Q1 2026) and $468 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,359.75 Bn | 1,333.37 Bn | 20.46 Bn | 8.22 Bn |
| 2 | Johnson & Johnson | 688.76 Bn | 608.62 Bn | 17.30 Bn | 6.36 Bn |
| 3 | AbbVie | 521.69 Bn | 489.75 Bn | 13.12 Bn | 7.31 Bn |
| 4 | Merck | 364.31 Bn | 327.31 Bn | 13.19 Bn | 5.52 Bn |
| 5 | Novartis Ag | 306.35 Bn | 279.93 Bn | - | - |
| 6 | Astrazeneca | 285.96 Bn | 259.56 Bn | 13.26 Bn | 7.96 Bn |
| 7 | Amgen | 251.88 Bn | 203.53 Bn | 7.58 Bn | 3.65 Bn |
| 8 | Gilead Sciences | 208.59 Bn | 183.61 Bn | 6.73 Bn | 4.80 Bn |
| 9 | Pfizer | 164.73 Bn | 112.38 Bn | 12.56 Bn | 4.80 Bn |
| 10 | Biogen | 37.46 Bn | 26.77 Bn | 2.06 Bn | 600.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 600.40 Mn |
| Jun 30, 2026 | 408.00 Mn |
| Mar 31, 2026 | 594.30 Mn |
| Dec 31, 2025 | 468.00 Mn |
| Sep 30, 2025 | 1.23 Bn |
| Jun 30, 2025 | 134.30 Mn |
| Mar 31, 2025 | 222.20 Mn |
| Dec 31, 2024 | 721.60 Mn |
| Sep 30, 2024 | 900.60 Mn |
| Jun 30, 2024 | 592.30 Mn |
| Mar 31, 2024 | 507.30 Mn |
| Dec 31, 2023 | -52.70 Mn |
| Sep 30, 2023 | 518.20 Mn |
| Jun 30, 2023 | 416.00 Mn |
| Mar 31, 2023 | 388.70 Mn |
| Dec 31, 2022 | -261.40 Mn |
| Sep 30, 2022 | 601.90 Mn |
| Jun 30, 2022 | 699.60 Mn |
| Mar 31, 2022 | 103.90 Mn |
| Dec 31, 2021 | 786.70 Mn |
API Access
Biogen Free Cash Flow API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=free-cash-flow&ticker=BIIB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "ticker": "BIIB", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=free-cash-flow&ticker=BIIB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();