Stock Analysis on Net
Stock Analysis on Net

Biogen Inc. (NASDAQ:BIIB)

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

Biogen Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 14.79 10.55 7.41 9.47 6.48 7.12 5.10 5.41 8.92 9.35 9.92 10.70 8.53 6.56 8.48 4.84 9.36 5.22 15.75 6.65 6.71 5.37 4.36
Marketable securities 4.97 8.58 8.48 6.45 5.94 5.35 5.53 5.19 5.43 7.61 4.86 5.74 7.62 4.67 6.30 9.15 8.01 8.24 6.93 8.94 8.50 7.92 9.23
Accounts receivable, net 6.31 6.25 6.91 6.49 7.24 6.90 7.77 7.77 8.12 8.36 8.01 6.90 7.04 7.45 7.90 7.74 7.91 8.15 7.43 7.56 6.79 7.49 7.08
Due from anti-CD20 therapeutic programs 1.67 1.74 1.65 1.73 1.68 1.73 1.55 1.68 2.11 1.73 1.96 2.17 2.12 2.12 1.99 2.08 1.99 2.01 2.12 2.25 2.25 2.31 1.53
Inventory 5.53 5.16 5.15 5.66 5.66 5.13 4.91 4.34 4.12 3.73 3.29 2.95 2.74 2.95 2.91 3.68 3.60 3.89 3.41 3.82 4.37 4.30 4.35
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.60 2.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current assets 6.02 6.56 3.93 3.10 3.09 3.14 3.30 3.58 2.74 2.50 2.62 2.32 2.70 3.73 3.65 2.72 3.33 3.52 3.43 4.07 4.19 5.27 5.81
Current assets 39.29% 38.84% 33.52% 32.90% 30.09% 29.36% 28.17% 27.97% 31.46% 33.29% 30.66% 30.78% 30.74% 30.09% 33.82% 30.21% 34.20% 31.03% 39.08% 33.29% 32.80% 32.67% 32.36%
Marketable securities 3.46 4.40 4.24 3.74 4.07 3.74 3.45 3.14 4.05 3.62 3.71 5.17 6.60 4.98 5.19 5.44 4.88 4.84 4.60 12.93 13.27 12.10 13.33
Property, plant and equipment, net 13.14 13.38 14.28 14.31 14.33 14.07 14.41 13.86 13.48 13.06 12.56 11.92 11.42 11.71 11.40 14.24 13.88 14.23 12.78 13.45 12.98 13.00 12.32
Operating lease assets 1.71 1.28 1.52 1.57 1.63 1.64 1.74 1.76 1.74 1.71 1.62 1.57 1.54 1.65 1.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Intangible assets, net 8.08 8.27 9.11 9.30 9.61 9.75 12.53 12.53 13.33 13.26 13.20 12.95 12.34 14.00 11.56 12.34 13.26 15.29 14.54 16.40 17.42 18.62 19.36
Goodwill 23.10 22.92 24.38 24.13 24.20 23.55 24.16 23.41 23.08 22.54 22.02 21.14 20.91 21.87 21.33 22.56 21.34 21.59 18.81 19.59 17.89 17.79 17.04
Deferred tax asset 4.73 4.93 5.46 5.93 7.60 7.56 5.39 5.56 5.51 6.70 11.90 11.87 11.95 10.73 7.84 8.52 8.48 9.26 8.73 2.52 0.00 0.00 0.00
Investments and other assets 6.49 5.98 7.48 8.12 8.48 10.33 10.16 11.78 7.36 5.81 4.33 4.60 4.51 4.97 7.18 6.69 3.96 3.77 1.46 1.82 5.64 5.83 5.59
Long-term assets 60.71% 61.16% 66.48% 67.10% 69.91% 70.64% 71.83% 72.03% 68.54% 66.71% 69.34% 69.22% 69.26% 69.91% 66.18% 69.79% 65.80% 68.97% 60.92% 66.71% 67.20% 67.33% 67.64%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The asset composition of the balance sheet reveals a gradual shift toward higher liquidity and a changing profile of long-term intangible holdings between March 2017 and September 2022. While long-term assets historically dominated the structure, there is a notable increase in the relative weight of current assets toward the end of the observed period.

Liquidity and Current Asset Trends
Current assets fluctuate between approximately 28% and 39% of total assets. A significant increase is observed by September 2022, where current assets reached 39.29%. This growth is primarily driven by cash and cash equivalents, which exhibit high volatility, peaking at 15.75% in March 2018 and ending the period at a high of 14.79%. Conversely, current marketable securities showed a general decline from an initial 9.23% in March 2017 to 4.97% by September 2022. Accounts receivable remained relatively stable, generally oscillating between 6% and 8% of total assets, while inventory showed a gradual increase from 4.35% to 5.53% over the period.
Long-Term Asset Composition
Long-term assets represented the majority of the balance sheet, although their share declined from 67.64% in March 2017 to 60.71% by September 2022. The most significant internal shift within this category is the inverse relationship between net intangible assets and goodwill. Net intangible assets experienced a consistent downward trend, falling from 19.36% to 8.08%, likely reflecting ongoing amortization. In contrast, goodwill increased steadily from 17.04% to 23.10%, suggesting that acquisitions have become a larger component of the total asset base relative to other assets.
Fixed Assets and Other Long-Term Items
Property, plant, and equipment, net, remained remarkably stable, typically ranging between 12% and 14% of total assets throughout the five-year period. Deferred tax assets showed significant fluctuation, peaking at 11.95% in September 2019 before declining to 4.73% by September 2022. Investments and other assets also displayed variability, ending the period at 6.49%, after a peak of 11.78% in December 2020.

Overall, the financial structure indicates a transition toward a more liquid position and a heavier reliance on goodwill as a primary long-term asset, while the relative impact of amortizable intangible assets has diminished.

AI Ask an analyst for more