Biogen (BIIB) FY2015 results: revenue $10.8 billion, up 10.9% on the year
Biogen Inc. (BIIB) reported revenue of $10.8 billion for fiscal 2015, the year ended 31 December 2015, up 10.9% on the year before. Net income was $3.5 billion, up 20.9%, and diluted earnings per share $15.34. The figures are the company's own, from the 10-K it filed with the SEC on 3 February 2016.
Revenue
$10.8 billion
+10.9% on the year
FY2008FY2015
Operating margin
45.4%
40.9% a year earlier
FY2008FY2015
Net income
$3.5 billion
+20.9% on the year
FY2008FY2015
Diluted EPS
$15.34
+24.0% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
10,764
9,703
6,932
+10.9%
Cost of revenue
1,240
1,171
858
+5.9%
Gross profit
9,523
8,532
6,074
+11.6%
Gross margin
88.5%
87.9%
87.6%
Research and development
2,013
1,893
1,444
+6.3%
Selling, general and administrative
2,113
2,232
1,712
-5.3%
Operating income
4,891
3,972
2,516
+23.1%
Operating margin
45.4%
40.9%
36.3%
Interest expense
95.5
29.5
31.9
+223.7%
Pre-tax income
4,767
3,947
2,481
+20.8%
Income tax
1,162
990
601
+17.3%
Effective tax rate
24.4%
25.1%
24.2%
Net income
3,547
2,935
1,862
+20.9%
Net margin
33.0%
30.2%
26.9%
Diluted EPS
$15.34
$12.37
$7.81
+24.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
3,919
2,942
2,345
+33.2%
Capital expenditure
643
288
246
+123.5%
Free cash flow
3,276
2,654
2,099
+23.4%
Free cash flow margin
30.4%
27.4%
30.3%
Cash from investing
-4,554
-1,543
-1,605
Cash from financing
783
-756
-717
Depreciation and amortisation
600
688
532
-12.8%
Share-based compensation
161
155
136
+3.9%
Buybacks
5,000
887
400
+463.8%
Diluted shares, weighted
231m
237m
238m
-2.5%
Shares outstanding at period end
219m
235m
236m
-6.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
9,373
10,809
8,620
-13.3%
Non-controlling interest
2.1
5.0
0.6
-58.0%
Debt
6,522
583
596
+1,017.8%
Other liabilities
3,608
2,919
2,647
+23.6%
Total liabilities and equity
19,505
14,317
11,863
+36.2%
Fixed assets
2,188
1,766
1,751
+23.9%
Goodwill
2,664
1,760
1,233
+51.3%
Intangible assets
4,085
4,029
4,475
+1.4%
Investments
4,881
2,111
1,246
+131.2%
Cash and equivalents
1,308
1,205
603
+8.6%
Receivables
1,227
1,292
824
-5.1%
Inventory
893
804
659
+11.1%
Other assets
2,259
1,350
1,073
+67.4%
Total assets
19,505
14,317
11,863
+36.2%
10-K for the year ended 31 December 2015, filed 3 February 2016: the filing.