Question 1

What is Biogen's P/E ratio?

Accepted Answer

Biogen (BIIB) P/E ratio is 21.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Biogen?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Biogen specifically, the relevant sector benchmark is the current sector median of 25.0×.

Question 5

Is Biogen's P/E ratio high or low?

Accepted Answer

Biogen's P/E ratio of 21.1× is above its own 5-year average of 19.5× and below the sector median of 25.0×. That places the current reading at the 66th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Biogen's historical P/E ratio range?

Accepted Answer

In the available daily series, Biogen (BIIB) P/E ratio has ranged from a low of 7.2× in 2020 to a high of 892.2× in 2004. The 5-year average is 19.5× and the 5-year median is 18.6×.

Question 7

What was Biogen's P/E ratio in 2025?

Accepted Answer

Biogen (BIIB) P/E ratio at the end of 2025 was 20.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Biogen's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$25.82B	$1.29B	20.0×	+6.3×	Dec 31, 2025
2024	$22.28B	$1.63B	13.7×	-18.6×	Dec 31, 2024
2023	$37.50B	$1.16B	32.3×	+19.2×	Dec 31, 2023
2022	$39.90B	$3.05B	13.1×	-9.6×	Dec 31, 2022
2021	$35.24B	$1.56B	22.6×	+13.2×	Dec 31, 2021
2020	$37.63B	$4.00B	9.4×	+0.4×	Dec 31, 2020
2019	$52.76B	$5.89B	9.0×	-4.6×	Dec 31, 2019
2018	$60.12B	$4.43B	13.6×	-13.0×	Dec 31, 2018
2017	$67.38B	$2.54B	26.5×	+9.9×	Dec 31, 2017
2016	$61.42B	$3.70B	16.6×	-2.4×	Dec 31, 2016
2015	$67.52B	$3.55B	19.0×	-8.2×	Dec 31, 2015
2014	$79.93B	$2.93B	27.2×	-8.2×	Dec 31, 2014
2013	$66.06B	$1.86B	35.5×	+10.4×	Dec 31, 2013
2012	$34.63B	$1.38B	25.1×	+3.4×	Dec 31, 2012
2011	$26.74B	$1.23B	21.7×	+5.6×	Dec 31, 2011
2010	$16.19B	$1.00B	16.1×	+1.2×	Dec 31, 2010
2009	$14.44B	$970.13M	14.9×	-2.6×	Dec 31, 2009
2008	$13.70B	$783.17M	17.5×	-8.9×	Dec 31, 2008
2007	$16.86B	$638.37M	26.4×	-50.5×	Dec 31, 2007
2006	$16.74B	$217.53M	77.0×	-18.8×	Dec 31, 2006
2005	$15.38B	$160.55M	95.8×	-796.4×	Dec 31, 2005
2004	$22.33B	$25.03M	892.2×	—	Dec 31, 2004
2003	$12.25B	−$936.24M	—	—	Dec 31, 2003
2002	$12.94B	$199.15M	65.0×	-33.6×	Dec 31, 2002
2001	$26.88B	$272.68M	98.6×	—	Dec 31, 2001


Agilent Technologies (A)	23.1×
Medtronic (MDT)	22.2×
McKesson (MCK)	22.2×
Illumina (ILMN)	21.7×
ResMed (RMD)	21.6×
GE HealthCare (GEHC)	21.6×
Pfizer (PFE)	21.1×
Quest Diagnostics (DGX)	21.1×
Henry Schein (HSIC)	21.0×
AptarGroup (ATR)	20.9×
IQVIA (IQV)	20.7×
UnitedHealth Group (UNH)	20.4×
Zoetis (ZTS)	18.9×
Gilead Sciences (GILD)	18.8×
Humana (HUM)	18.5×
Regeneron Pharmaceuticals (REGN)	18.2×
Bristol-Myers Squibb (BMY)	17.0×
HCA Healthcare (HCA)	15.8×
DaVita (DVA)	13.3×
Incyte (INCY)	13.1×
Elevance Health (ELV)	12.3×
Cigna (CI)	11.1×
Novo Nordisk (NVO)	8.6×
Solventum (SOLV)	7.9×
Universal Health Services (UHS)	7.2×

P/E Ratio for Biogen (BIIB)

P/E Ratio daily chart for Biogen (BIIB)

Historical P/E Ratio for Biogen (BIIB) from 2001 to 2025

About P/E Ratio at Biogen (BIIB)

Biogen P/E Ratio by Year

Biogen P/E Ratio 2025: 20.0×

Biogen P/E Ratio 2024: 13.7×

Biogen P/E Ratio 2023: 32.3×

Biogen P/E Ratio 2022: 13.1×

Biogen P/E Ratio 2021: 22.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Biogen (BIIB) Key Financials

P/E Ratio daily chart for Biogen (BIIB)

Historical P/E Ratio for Biogen (BIIB) from 2001 to 2025

About P/E Ratio at Biogen (BIIB)

Biogen P/E Ratio by Year

Biogen P/E Ratio 2025: 20.0×

Biogen P/E Ratio 2024: 13.7×

Biogen P/E Ratio 2023: 32.3×

Biogen P/E Ratio 2022: 13.1×

Biogen P/E Ratio 2021: 22.6×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Biogen's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Biogen?

+Is Biogen's P/E ratio high or low?

+What is Biogen's historical P/E ratio range?

+What was Biogen's P/E ratio in 2025?

+Why does Biogen's P/E ratio change over time?

Biogen (BIIB) Key Financials