For the year ending 2025-12-31, BIIB had $531,600K increase in cash & cash equivalents over the period. $2,050,800K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,292,900 | 1,632,200 | 1,161,500 | 2,961,600 |
| Depreciation and amortization | 779,900 | 673,200 | 494,800 | 518,400 |
| Impairment of intangible assets | 7,900 | 60,200 | 0 | 119,600 |
| Impairment of rou asset | 52,900 | - | - | - |
| Excess and obsolescence charges related to inventory | 29,200 | 101,900 | 124,400 | 336,200 |
| Amortization of acquired inventory step-up | 240,800 | 230,000 | 31,500 | - |
| Acquired in-process research and development | - | - | - | 0 |
| Acquired in-process research and development | 85,000 | - | - | - |
| Share-based compensation | 290,800 | 291,200 | 264,200 | 254,100 |
| Contingent consideration | -33,600 | -27,700 | 0 | 209,100 |
| (gain)/loss on divestiture of hillerd, denmark manufacturing operations | - | - | - | 0 |
| Deferred income taxes | 361,600 | -158,100 | -305,800 | -168,600 |
| (gain) loss on strategic investments | -19,300 | -101,400 | -277,100 | -265,900 |
| (gain) loss on equity method investment | - | 0 | 0 | 2,600 |
| Gain on sale of equity interest in samsung bioepis | - | 0 | 0 | 1,505,400 |
| Gain on sale of building, net | - | 0 | 0 | 503,700 |
| Gain on sale of priority review voucher, net | 0 | 88,600 | - | - |
| Other | -68,300 | -159,600 | -148,200 | -208,200 |
| Accounts receivable | -102,700 | -222,300 | -61,300 | 203,400 |
| Due from anti-cd20 therapeutic programs | 60,600 | 28,100 | 4,600 | 19,000 |
| Inventory | 64,700 | 273,800 | 130,900 | 320,200 |
| Accrued expense and other current liabilities | 171,100 | 24,600 | -201,600 | -113,400 |
| Income tax assets and liabilities | -958,100 | 78,500 | -299,000 | -142,300 |
| Other changes in operating assets and liabilities, net | -248,000 | -178,700 | -73,900 | -92,000 |
| Net cash flow provided by (used in) operating activities | 2,204,600 | 2,875,500 | 1,547,200 | 1,384,300 |
| Purchases of property, plant and equipment | 153,800 | 153,700 | 277,000 | 240,300 |
| Proceeds from sales and maturities of marketable securities | 23,000 | 0 | 7,380,800 | 3,671,000 |
| Purchases of marketable securities | 1,258,300 | 0 | 5,140,700 | 3,448,500 |
| Acquisition, net of cash acquired-Reata Pharmaceuticals Inc | 0 | - | - | - |
| Acquisition, net of cash acquired | - | 1,074,800 | 6,926,100 | - |
| Acquisition, net of cash acquired-Hi Bio Acquisition | 0 | - | - | - |
| Proceeds from sale of equity interest in samsung bioepis | 0 | 406,800 | 788,100 | 990,300 |
| Proceeds from sale of building | - | 0 | 0 | -582,600 |
| Purchase of subsidiaries and affiliates-Sangamo Therapeutics Inc Agreement | - | - | - | 0 |
| Purchase of subsidiaries and affiliates-Denali Therapeutics Inc | - | - | - | 0 |
| Purchase of subsidiaries and affiliates-Sage Therapeutics Inc | - | - | - | 0 |
| Proceeds from sale of priority review voucher, net | 0 | 88,600 | 0 | 0 |
| Acquired in-process research and development | 50,000 | - | - | 0 |
| Acquisitions of intangible assets | 31,600 | 206,100 | 34,400 | 2,900 |
| Proceeds from sales of strategic investments | 56,700 | 144,700 | 119,600 | 0 |
| Other | -42,900 | 4,700 | 11,300 | -24,400 |
| Net cash flow provided by (used in) investing activities | -1,371,100 | -799,200 | -4,101,000 | 1,576,600 |
| Purchase of treasury stock | - | 0 | 0 | 750,000 |
| Payments related to issuance of stock for share-based compensation arrangements, net | 10,000 | 31,300 | 44,300 | 1,900 |
| Repayments of borrowings and premiums paid | - | 650,000 | 809,900 | 1,002,200 |
| Proceeds from borrowings | 1,733,100 | 0 | 997,200 | 0 |
| Repayments of borrowings | 1,750,000 | - | - | - |
| Net (distribution) contribution to noncontrolling interest | 0 | 0 | 12,300 | 12,400 |
| Contingent consideration payments | 280,000 | - | - | - |
| Other | 5,000 | -2,200 | -6,000 | -5,600 |
| Net cash flow provided by (used in) financing activities | -301,900 | -683,500 | 149,300 | -1,747,300 |
| Net increase (decrease) in cash and cash equivalents | 531,600 | 1,392,800 | -2,404,500 | 1,213,600 |
| Effect of exchange rate changes on cash | 101,900 | -67,700 | 35,100 | -55,700 |
| Cash and cash equivalents at beginning of period | 2,375,000 | 1,049,900 | 3,419,300 | 2,261,400 |
| Cash and cash equivalents at end of period | 3,008,500 | 2,375,000 | 1,049,900 | 3,419,300 |
BIOGEN INC. (BIIB)
BIOGEN INC. (BIIB)