Biogen Inc. (BIIB)

Biological Products, (No Diagnostic Substances)

Latest Price

$225.88

TTM P/E

24.29

Normalized P/E

18.99

Div Yield

Book Value

126.71

P/B Ratio

1.78

Valuation metrics

EPS: $8.79

Book value / share: $124.37

Formula: √(22.5 × EPS × BVPS)

Graham Number

$156.83

31% downside

Norm. op. income: $4.6B (median of 3yr)

Tax rate: 16%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$237.25

+5% upside

Base FCF: $2.1B (median of recent 5yr)

Growth: -13%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$44.88

80% downside

EPS: $8.79

Target P/E: 19×

Formula: EPS × P/E

P/E Fair Value

$167.01

26% downside

98.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
FMR LLC	18.22M	$3.94B	12.38%	+5.41M	2026-06-30
BlackRock, Inc.	15.99M	$3.45B	10.86%	+11.1K	2026-06-30
Primecap Management Co	15.15M	$3.27B	10.30%	+397.0K	2026-06-30
Vanguard Capital Management LLC	9.65M	$2.08B	6.56%	+113.7K	2026-06-30
State Street Corp	7.34M	$1.59B	4.99%	+176.4K	2026-06-30
Vanguard Portfolio Management LLC	6.60M	$1.43B	4.49%	+73.2K	2026-06-30
Geode Capital Management, LLC	4.45M	$957.0M	3.02%	+106.7K	2026-06-30
Wellington Management Group LLP	3.12M	$673.0M	2.12%	+155.8K	2026-06-30
Norges Bank	2.58M	$557.0M	1.75%	-58.8K	2026-06-30
Morgan Stanley	2.41M	$520.0M	1.64%	+240.3K	2026-06-30