How does Biogen (BIIB) make money?

Biogen (BIIB) generates revenue primarily from MS Product Revenues, which accounted for 41.9% of total revenue in TTM through Q2 2026. The company reported $9.95B in revenue and converted 8.4% of it into net profit, equivalent to roughly $835M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Biogen (BIIB)?

Biogen (BIIB) reported a gross profit margin of 67.7% in TTM through Q2 2026, equivalent to $6.74B in gross profit on $9.95B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Biogen (BIIB)?

Biogen (BIIB) reported an operating profit margin of 12.8% in TTM through Q2 2026, equivalent to $1.27B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Biogen (BIIB)?

Biogen (BIIB) reported a net profit margin of 8.4% in TTM through Q2 2026, equivalent to $835M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Biogen (BIIB) profitable?

Yes. Biogen (BIIB) reported $835M in net income for TTM through Q2 2026, with a net profit margin of 8.4%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Biogen (BIIB) invest in research and development?

Biogen (BIIB) invested $1.95B in research and development during TTM through Q2 2026, roughly 19.6% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Biogen (BIIB) spend on capital expenditures?

Biogen (BIIB) spent $89.8M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 0.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Biogen (BIIB) generate?

Biogen (BIIB) generated $2.97B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 29.8%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Biogen (BIIB)?

Biogen (BIIB) had an effective tax rate of 2.5% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Biogen (BIIB)?

Biogen (BIIB) reports revenue across 5 reportable product segments, led by MS Product Revenues at 41.9% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Biogen (BIIB) generate most of its revenue?

Non-US is the largest geographic market for Biogen (BIIB), accounting for 53.9% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Biogen Makes Money: 2026 Visual Revenue Map

Biogen (BIIB) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 29, 2026).

Biogen (BIIB) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Biogen (BIIB), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
MS Product Revenues	$4.17B	41.9%
TYSABRI product	$1.84B	18.5%
SPINRAZA	$1.61B	16.2%
Fumarate	$1.34B	13.5%
Interferon	$989M	9.9%
Total	$9.95B	100%

MS Product Revenues$4.17B
TYSABRI product$1.84B
SPINRAZA$1.61B
Fumarate$1.34B
Interferon$989M
Total$9.95B

Biogen (BIIB) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Biogen (BIIB), TTM through Q2 2026
Region	Revenue (USD)	% of total
Non-US	$3.38B	53.9%
UNITED STATES	$2.89B	46.1%
Total	$6.27B	100%

Non-US
UNITED STATES
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Biogen (BIIB) reports revenue across 5 reportable product segments; the largest segment was MS Product Revenues at 41.9%, followed by TYSABRI product (18.5%) and SPINRAZA (16.2%). Geographically, Non-US accounted for 53.9% of revenue, followed by UNITED STATES (46.1%).

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