BIIB · Intrinsic value
Is Biogen Inc. (BIIB) overvalued or undervalued?
Biogen Inc. (BIIB) trades at the delayed market price of $232.65 a share. That price already implies revenue growth of −1.5% a year for 5 years. TickerWorth's fair value is $269.28 a share (priced within our range of $173.81 – $312.68). We do not call it over- or undervalued from inside our range.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 19, 2026 · How these pages are made
Is BIIB fairly valued?
- Fair value
- $269.28
- Market price
- $232.65
- Upside to fair value
- +15.7%
- Verdict
- Priced within our range of $173.81 – $312.68
Reverse DCF: Today's price implies revenue growth of −1.5% a year for 5 years; our model assumes 3.3% a year on average over the same horizon.
What is BIIB's TickerWorth Score?
Scores higher than most companies we compare it with
Compared with Healthcare companies in US
Its strongest point: recent price trend has been strong. Its weakest: balance sheet looks stretched.
- Value · 61 of 100
Cheaper than 61% of Healthcare companies in US
- Price vs worth · 63 of 100
- Quality · 66 of 100
More profitable than 66% of Healthcare companies in US
- Financial health · 41 of 100
Financially stronger than 41% of Healthcare companies in US
- Growth · 44 of 100
Growing faster than 44% of Healthcare companies in US
- Momentum · 90 of 100
Outperformed 90% of Healthcare companies in US over the past year
Confidence: High confidence · Scored
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BIIB DCF valuation, input by input
TickerWorth's fair value for Biogen Inc. (BIIB) is $269.28 a share, against the delayed market price of $232.65 (priced within our range of $173.81 – $312.68). We do not call it over- or undervalued from inside our range. It is a model estimate, and every input behind it is sourced below. This is an educational model, not a price target or a recommendation.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values BIIB at about $277.96 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts Biogen Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 9.1%, with a long-run terminal growth rate of 2.5%. About 76% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly -1.5% annual revenue growth for BIIB. Our base case instead compounds to about 3.3% a year over the same forecast, so the market is pricing in slower growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, BIIB's modeled DCF value ranges from about $199.97 to $450.62 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what Biogen Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of BIIB's intrinsic value. Figures update as new filings and prices come in.
Every input behind BIIB's DCF
| Input | Value |
|---|---|
| Base-year revenueBIOGEN INC. FY2025 10-K (accession 0000875045-26-000013): us-gaap:Revenues, FY2025 full year. | $9,890,600,000 |
| Base EBIT marginBIOGEN INC. FY2021 10-K (accession 0000875045-22-000007): us-gaap:OperatingIncomeLoss 2,840,700,000 / revenue 9,890,600,000 = 28.72%, FY2025. | 28.7% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 3% → 3% → 3% → 4% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.2% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.00 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesBIOGEN INC. FY2025 10-K (accession 0000875045-26-000013): WeightedAverageNumberOfDilutedSharesOutstanding = 147,100,000 shares, FY2025. | 147M |
| Market priceBackup price feed · as of 2026-10-19 13:20 UTC | $232.65 |
Change BIIB's assumptions
The discount-rate dial and the editable model
ProChange growth, margin and WACC yourself — Pro (7-day free trial, card required).
What does Biogen Inc. do?
What does it do?
Biogen Inc. discovers, develops, manufactures, and delivers therapies in the United States, Europe, Germany, Asia, and internationally. It operates in the Drug Manufacturers - General industry (Healthcare sector), headquartered in United States. The company employs roughly 7,500 people.
How does it make money?
The business turns $10.0B in annual revenue into profit. Out of every $100 of sales, about $25 is left as operating profit (operating margin of 25.1%), after a 78% gross margin on the products/services it sells. After all costs, taxes and interest, 8.3% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks mixed: carries modest debt (0.4× equity), comfortably covers its short-term bills (1.9× current ratio), and is currently profitable.
Who at BIIB filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Godbout Sean | Chief Accounting Officer | Option exercise | — | Form 4 for Godbout Sean (opens sec.gov in a new tab) | |
| Godbout Sean | Chief Accounting Officer | Shares withheld (tax) | $1,759.04 | Form 4 for Godbout Sean (opens sec.gov in a new tab) | |
| Minor Lloyd | Director | Open-market sale | $119,169.28 | Form 4 for Minor Lloyd (opens sec.gov in a new tab) | |
| Minor Lloyd | Director | Open-market sale | $120,580.62 | Form 4 for Minor Lloyd (opens sec.gov in a new tab) | |
| HAWKINS WILLIAM A | Director | Grant / award | — | Form 4 for HAWKINS WILLIAM A (opens sec.gov in a new tab) | |
| SHERWIN STEPHEN A | Director | Grant / award | — | Form 4 for SHERWIN STEPHEN A (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is BIIB's intrinsic value?
TickerWorth's blended fair value for Biogen Inc. (BIIB) is $269.28 per share, versus a market price of $232.65 (priced within our range of $173.81 – $312.68).
Is BIIB overvalued or undervalued?
Priced within our range of $173.81 – $312.68 at $232.65. We don't call BIIB overvalued or undervalued from a range. This is an educational estimate, not advice.
What discount rate is used for BIIB?
A WACC of 9.1% and a terminal growth rate of 2.5%.
Is Biogen stock undervalued?
TickerWorth's fair value for Biogen Inc. (BIIB) is $269.28 against a market price of $232.65. Our read: Priced within our range of $173.81 – $312.68. This is a model estimate, not investment advice.
Biogen (BIIB) DCF valuation and fair value
Our fair value for Biogen Inc. (BIIB) is $269.28, built on a 9.1% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into Biogen stock?
Today's price implies revenue growth of −1.5% a year for 5 years; our model assumes 3.3% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $232.65. A model estimate, not investment advice.
Biogen (BIIB) insider trading
The most recent insider filing (SEC Form 4) for Biogen Inc. (BIIB): Godbout Sean, Chief Accounting Officer, option exercise on 2026-10-02. The latest filings are listed on this page. A disclosure, not a signal to trade.
How does BIIB compare with its peers?
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Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.