BIOGEN INC Reports 0.8% YoY Increase in Q3 FY2023 Revenue of USD 2.5 Billion
November 20, 2023
☀️Earnings Overview
On November 8th 2023, Biogen Inc ($NASDAQ:BIIB). reported their 3rd quarter earnings for FY2023, showing total revenue of USD 2.5 billion – a 0.8% year-over-year increase. However, the net income for the quarter was USD -0.07 billion, significantly lower than the 1.13 billion registered in the previous year.
Analysis
GoodWhale has conducted a financial analysis of BIOGEN INC, to which it assigns the classification of an ‘elephant’ – a type of company that is rich in assets after deducting off liabilities. This classification may be attractive to investors who are focused on the value in a company’s assets rather than the amount of debt it holds. Furthermore, BIOGEN INC is strong in profitability, medium in asset and weak in dividend, growth. This makes it more attractive to value investors, who prioritize buying companies that are undervalued relative to their peers. The health score assigned by GoodWhale is 10/10, which indicates that BIOGEN INC is capable to safely ride out any crisis without the risk of bankruptcy. Although its dividend and growth are weak, the company’s strong cashflows and low debt make it an appealing option for investors looking for a long-term, steady return on investment. Investors looking for a balanced portfolio may also be drawn to BIOGEN INC due to its status as an ‘elephant’. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Biogen Inc. More…
| Total Revenues | Net Income | Net Margin |
| 9.99k | 1.46k | 18.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Biogen Inc. More…
| Operations | Investing | Financing |
| 1.36k | -3.59k | 788 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Biogen Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 28.19k | 13.71k | 99.96 |
Key Ratios Snapshot
Some of the financial key ratios for Biogen Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -11.2% | -34.2% | 18.4% |
| FCF Margin | ROE | ROA |
| 10.3% | 7.9% | 4.1% |
Peers
In the biotechnology industry, Biogen Inc is up against some stiff competition from the likes of Eli Lilly and Co, Gilead Sciences Inc, and Intra-Cellular Therapies Inc. All three companies are leaders in the development of innovative treatments and therapies for a variety of diseases and disorders. Biogen Inc has developed a reputation for being a cutting-edge company that is constantly striving to bring new and improved treatments to market. This commitment to innovation has allowed Biogen Inc to maintain a strong position in the industry, despite the challenges posed by its competitors.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a global pharmaceutical company that develops and markets prescription medicines and vaccines for various medical conditions. The company’s market cap as of 2022 is 316.18B. Its return on equity (ROE) is 45.88%.
Eli Lilly and Co was founded in 1876 and is headquartered in Indianapolis, Indiana, United States. The company operates in more than 140 countries worldwide. Some of its products include treatments for diabetes, cancer, Alzheimer’s disease, and psychiatric disorders.
– Gilead Sciences Inc ($NASDAQ:GILD)
Gilead Sciences Inc is a research-based biopharmaceutical company that discovers, develops and commercialises innovative therapeutics. The company’s mission is to advance the care of patients suffering from life-threatening diseases. Gilead Sciences Inc has a market cap of 83.2B as of 2022 and a Return on Equity of 24.03%. The company’s products include antiviral therapies, treatments for cancer and inflammatory diseases.
– Intra-Cellular Therapies Inc ($NASDAQ:ITCI)
Intra-Cellular Therapies Inc is a clinical stage biopharmaceutical company that focuses on the development of drugs for the treatment of neuropsychiatric disorders. The company’s market cap as of 2022 was 4.47B, and its ROE was -42.76%. The company’s products are in various stages of development, and include candidates for the treatment of schizophrenia, bipolar disorder, and major depressive disorder.
Summary
BIOGEN INC reported lower than expected earnings for the third quarter of FY2023, with total revenue increasing by just 0.8% year-over-year and net income dropping to a loss of USD 0.07 billion. This news caused the company’s stock price to drop on the same day, leading investors to take a closer look at the company’s financial performance. Even though the company’s revenue was up, its net income was down significantly year-over-year, indicating that there may be underlying issues with BIOGEN INC’s operations. Investors should keep an eye on further developments from the company in order to assess its longer-term prospects.
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