Biogen Inc. (BIIB) P/E Ratio History
Premium ValuationTrading at 23.3x vs 5Y avg 19.6x · 70th percentile · Premium to historical baseline · Data 1991–2026
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P/E Ratio Analysis
As of July 8, 2026, Biogen Inc. (BIIB) trades at a price-to-earnings ratio of 23.3x, with a stock price of $205.70 and trailing twelve-month earnings per share of $9.25.
The current P/E is 19% above its 5-year average of 19.6x. Over the past five years, BIIB's P/E has ranged from a low of 12.0x to a high of 32.4x, placing the current valuation at the 70th percentile of its historical range.
Compared to the Healthcare sector median P/E of 23.4x, BIIB is roughly in line with its sector peers. The sector includes 231 companies with P/E ratios ranging from 0.0x to 198.8x.
Relative to the broader market, BIIB trades roughly in line with the S&P 500 median P/E of 25.9x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our BIIB DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
BIIB Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
BIIB P/E vs Peers
Specialty and biologics-focused pharma peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $70B | 16.3 | 2.58 | +8% | |
| $133B | 34.1 | 4.11 | +837% | |
| $12B | 33.5 | - | -19% | |
| $43B | 138.0 | - | +207% | |
| $169B | 20.1 | 0.15Best | +1684% | |
| $199B | 25.9 | 8.79 | +88% | |
| $24B | 18.4 | - | +4173%Best | |
| $4B | 11.4Lowest | - | +68% | |
| $1.2T | 53.8 | 1.87 | +96% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
BIIB Historical P/E Data (1991–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $183.33 | $9.34 | 19.6x | -66% |
| FY2025 Q4 | Dec 31 2025 | $175.99 | $8.83 | 19.9x | -66% |
| FY2025 Q3 | - | $140.08 | $10.99 | 12.7x | -78% |
| FY2025 Q2 | Jun 30 2025 | $125.59 | $10.48 | 12.0x | -79% |
| FY2025 Q1 | Mar 31 2025 | $136.84 | $10.13 | 13.5x | -77% |
| FY2024 Q4 | - | $152.92 | $11.19 | 13.7x | -76% |
| FY2024 Q3 | Sep 30 2024 | $193.84 | $11.07 | 17.5x | -70% |
| FY2024 Q2 | Jun 30 2024 | $231.82 | $7.94 | 29.2x | -49% |
| FY2024 Q1 | Mar 31 2024 | $215.63 | $8.01 | 26.9x | -53% |
| FY2023 Q4 | Dec 31 2023 | $258.77 | $7.98 | 32.4x | -44% |
| FY2023 Q3 | Sep 30 2023 | $257.01 | $10.06 | 25.5x | -56% |
| FY2023 Q2 | Jun 30 2023 | $284.85 | $18.37 | 15.5x | -73% |
| FY2023 Q1 | Mar 31 2023 | $278.03 | $21.54 | 12.9x | -78% |
| FY2022 Q4 | Dec 31 2022 | $276.92 | $20.93 | 13.2x | -77% |
| FY2022 Q3 | Sep 30 2022 | $267.00 | $19.64 | 13.6x | -76% |
| FY2022 Q2 | - | $203.94 | $14.02 | 14.5x | -75% |
| FY2022 Q1 | - | $210.60 | $9.77 | 21.6x | -63% |
| FY2021 Q4 | Dec 31 2021 | $239.92 | $10.40 | 23.1x | -60% |
| FY2021 Q3 | - | $282.99 | $10.22 | 27.7x | -52% |
| FY2021 Q2 | Jun 30 2021 | $346.27 | $12.46 | 27.8x | -52% |
| FY2021 Q1 | Mar 31 2021 | $279.75 | $19.06 | 14.7x | -75% |
| FY2020 Q4 | - | $244.86 | $24.45 | 10.0x | -83% |
| FY2020 Q3 | Sep 30 2020 | $283.68 | $30.21 | 9.4x | -84% |
| FY2020 Q2 | - | $267.55 | $34.14 | 7.8x | -86% |
| FY2020 Q1 | - | $316.38 | $32.40 | 9.8x | -83% |
| FY2019 Q4 | - | $296.73 | $31.47 | 9.4x | -84% |
| FY2019 Q3 | Sep 30 2019 | $232.82 | $28.12 | 8.3x | -86% |
| FY2019 Q2 | Jun 30 2019 | $233.87 | $26.88 | 8.7x | -85% |
| FY2019 Q1 | Mar 31 2019 | $236.38 | $23.21 | 10.2x | -82% |
| FY2018 Q4 | Dec 31 2018 | $300.92 | $21.60 | 13.9x | -76% |
| FY2018 Q3 | Sep 30 2018 | $353.31 | $15.46 | 22.9x | -60% |
| FY2018 Q2 | Jun 30 2018 | $290.24 | $14.10 | 20.6x | -64% |
| FY2018 Q1 | Mar 31 2018 | $273.82 | $13.99 | 19.6x | -66% |
| FY2017 Q4 | Dec 31 2017 | $318.57 | $11.91 | 26.7x | -54% |
| FY2017 Q3 | Sep 30 2017 | $313.12 | $16.31 | 19.2x | -67% |
| FY2017 Q2 | Jun 30 2017 | $271.36 | $15.23 | 17.8x | -69% |
| FY2017 Q1 | Mar 31 2017 | $273.42 | $15.95 | 17.1x | -70% |
| FY2016 Q4 | Dec 31 2016 | $283.58 | $16.92 | 16.8x | -71% |
| FY2016 Q3 | Sep 30 2016 | $313.03 | $17.70 | 17.7x | -69% |
| FY2016 Q2 | - | $241.82 | $17.14 | 14.1x | -76% |
| FY2016 Q1 | - | $260.32 | $16.28 | 16.0x | -72% |
| FY2015 Q4 | - | $306.35 | $15.34 | 20.0x | -65% |
| FY2015 Q3 | Sep 30 2015 | $291.81 | $15.31 | 19.1x | -67% |
| FY2015 Q2 | - | $403.94 | $14.78 | 27.3x | -53% |
| FY2015 Q1 | - | $422.24 | $13.86 | 30.5x | -47% |
| FY2014 Q4 | Dec 31 2014 | $339.45 | $12.39 | 27.4x | -53% |
| FY2014 Q3 | - | $330.81 | $10.57 | 31.3x | -46% |
| FY2014 Q2 | Jun 30 2014 | $315.31 | $9.00 | 35.0x | -39% |
| FY2014 Q1 | Mar 31 2014 | $305.87 | $8.05 | 38.0x | -34% |
| FY2013 Q4 | - | $279.57 | $7.82 | 35.8x | -38% |
| FY2013 Q3 | Sep 30 2013 | $240.76 | $7.13 | 33.8x | -42% |
| FY2013 Q2 | Jun 30 2013 | $215.20 | $6.75 | 31.9x | -45% |
| FY2013 Q1 | Mar 31 2013 | $192.62 | $6.30 | 30.6x | -47% |
| FY2012 Q4 | Dec 31 2012 | $146.37 | $5.76 | 25.4x | -56% |
| FY2012 Q3 | Sep 30 2012 | $149.21 | $5.75 | 25.9x | -55% |
| FY2012 Q2 | Jun 30 2012 | $144.38 | $5.51 | 26.2x | -55% |
| FY2012 Q1 | Mar 31 2012 | $126.00 | $5.08 | 24.8x | -57% |
| FY2011 Q4 | Dec 31 2011 | $110.05 | $5.03 | 21.9x | -62% |
| FY2011 Q3 | Sep 30 2011 | $93.15 | $4.79 | 19.4x | -66% |
| FY2011 Q2 | - | $106.92 | $4.41 | 24.2x | -58% |
| FY2011 Q1 | - | $73.47 | $4.35 | 16.9x | -71% |
| FY2010 Q4 | Dec 31 2010 | $67.05 | $3.95 | 17.0x | -71% |
| FY2010 Q3 | - | $56.12 | $4.09 | 13.7x | -76% |
| FY2010 Q2 | Jun 30 2010 | $47.45 | $3.99 | 11.9x | -79% |
| FY2010 Q1 | Mar 31 2010 | $57.39 | $3.36 | 17.1x | -70% |
| FY2009 Q4 | - | $53.50 | $3.40 | 15.7x | -73% |
| FY2009 Q3 | Sep 30 2009 | $50.52 | $2.99 | 16.9x | -71% |
| FY2009 Q2 | - | $45.15 | $2.74 | 16.5x | -71% |
| FY2009 Q1 | - | $52.42 | $2.95 | 17.8x | -69% |
| FY2008 Q4 | Dec 31 2008 | $47.63 | $2.65 | 18.0x | -69% |
| FY2008 Q3 | - | $50.29 | $2.61 | 19.3x | -67% |
| FY2008 Q2 | Jun 30 2008 | $55.89 | $2.32 | 24.1x | -58% |
| FY2008 Q1 | Mar 31 2008 | $61.69 | $2.16 | 28.6x | -51% |
| FY2007 Q4 | Dec 31 2007 | $56.92 | $2.00 | 28.5x | -51% |
| FY2007 Q3 | Sep 30 2007 | $66.33 | $1.65 | 40.2x | -30% |
| FY2007 Q2 | Jun 30 2007 | $53.50 | $1.69 | 31.7x | -45% |
| FY2007 Q1 | Mar 31 2007 | $44.38 | $0.65 | 68.3x | +18% |
| FY2006 Q4 | Dec 31 2006 | $49.19 | $0.63 | 78.1x | +35% |
| FY2006 Q3 | Sep 30 2006 | $44.68 | $0.47 | 95.1x | +64% |
| FY2006 Q2 | Jun 30 2006 | $46.32 | $0.10 | 463.2x | +701% |
| FY2006 Q1 | Mar 31 2006 | $47.10 | $0.70 | 67.3x | +16% |
| FY2005 Q4 | Dec 31 2005 | $45.28 | $0.46 | 98.4x | +70% |
| FY2005 Q3 | Sep 30 2005 | $39.48 | $0.38 | 103.6x | +79% |
| FY2005 Q2 | - | $34.45 | $0.40 | 85.9x | +49% |
| FY2005 Q1 | - | $34.51 | $0.30 | 113.7x | +97% |
| FY2004 Q4 | Dec 31 2004 | $66.61 | $0.06 | 1050.6x | +1717% |
| FY2003 Q3 | - | $33.29 | $0.52 | 64.0x | +11% |
| FY2003 Q2 | Jun 30 2003 | $33.96 | $0.52 | 65.3x | +13% |
| FY2003 Q1 | Mar 31 2003 | $34.22 | $0.48 | 71.3x | +23% |
| FY2002 Q4 | - | $33.17 | $0.50 | 66.3x | +15% |
| FY2002 Q3 | Sep 30 2002 | $41.52 | $0.55 | 75.5x | +31% |
| FY2002 Q2 | Jun 30 2002 | $35.45 | $0.62 | 57.2x | -1% |
| FY2002 Q1 | Mar 31 2002 | $64.30 | $0.69 | 93.2x | +61% |
| FY2001 Q4 | Dec 31 2001 | $68.93 | $0.69 | 99.9x | +73% |
| FY2001 Q3 | Sep 30 2001 | $49.57 | $0.70 | 70.8x | +22% |
| FY2001 Q2 | Jun 30 2001 | $67.69 | $0.67 | 101.0x | +75% |
| FY2001 Q1 | Mar 31 2001 | $40.00 | $0.65 | 61.5x | +6% |
| FY2000 Q4 | Dec 31 2000 | $63.19 | $0.73 | 86.6x | +50% |
| FY2000 Q3 | Sep 30 2000 | $58.45 | $0.72 | 81.2x | +40% |
| FY2000 Q2 | Jun 30 2000 | $39.10 | $0.64 | 61.6x | +7% |
| FY2000 Q1 | Mar 31 2000 | $32.75 | $0.52 | 62.8x | +9% |
| FY1999 Q4 | Dec 31 1999 | $32.75 | $0.31 | 105.6x | +83% |
| FY1999 Q3 | - | $15.67 | $0.20 | 76.8x | +33% |
| FY1999 Q2 | Jun 30 1999 | $12.84 | $0.18 | 71.1x | +23% |
| FY1999 Q1 | Mar 31 1999 | $8.56 | $0.17 | 51.2x | -11% |
| FY1998 Q4 | - | $7.83 | $0.15 | 52.6x | -9% |
| FY1998 Q3 | Sep 30 1998 | $3.96 | $0.14 | 28.5x | -51% |
| FY1998 Q2 | - | $3.93 | $0.12 | 32.6x | -44% |
| FY1998 Q1 | - | $7.38 | $0.11 | 67.7x | +17% |
| FY1997 Q4 | Dec 31 1997 | $5.73 | $0.10 | 58.9x | +2% |
| FY1997 Q3 | - | $6.98 | $0.07 | 96.7x | +67% |
| FY1997 Q2 | Jun 30 1997 | $4.04 | $0.10 | 40.9x | -29% |
| FY1997 Q1 | Mar 31 1997 | $3.97 | $0.07 | 60.6x | +5% |
| FY1996 Q4 | - | $3.96 | $0.04 | 93.8x | +62% |
| FY1996 Q3 | Sep 30 1996 | $4.00 | $0.03 | 115.6x | +100% |
| FY1995 Q4 | Dec 31 1995 | $3.25 | $0.01 | 451.4x | +681% |
| FY1995 Q3 | Sep 30 1995 | $1.31 | $0.02 | 73.3x | +27% |
| FY1994 Q2 | - | $0.41 | $0.03 | 11.9x | -79% |
| FY1994 Q1 | - | $0.65 | $0.04 | 15.5x | -73% |
| FY1993 Q4 | Dec 31 1993 | $0.96 | $0.04 | 23.0x | -60% |
| FY1993 Q3 | - | $0.83 | $0.07 | 12.5x | -78% |
| FY1993 Q2 | Jun 30 1993 | $0.92 | $0.07 | 13.8x | -76% |
| FY1993 Q1 | Mar 31 1993 | $0.96 | $0.06 | 16.0x | -72% |
| FY1992 Q4 | - | $1.46 | $0.05 | 30.1x | -48% |
| FY1992 Q3 | Sep 30 1992 | $1.08 | $0.02 | 52.8x | -9% |
| FY1992 Q2 | - | $1.10 | $0.01 | 153.4x | +165% |
| FY1992 Q1 | - | $1.83 | $0.01 | 254.6x | +340% |
| FY1991 Q4 | - | $2.17 | $0.01 | 246.2x | +326% |
| FY1991 Q3 | Sep 30 1991 | $3.13 | $0.01 | 242.2x | +319% |
Average P/E for displayed period: 57.8x
Intrinsic Valuation
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Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
BIIB — Frequently Asked Questions
Quick answers to the most common questions about buying BIIB stock.
What is BIIB's P/E ratio?
Biogen Inc. (BIIB) trailing twelve-month P/E ratio is 23.3x, based on TTM diluted EPS of $9.25. The 5-year average P/E is 19.6x and the historical range spans 12.0x to 32.4x.
Is BIIB stock overvalued or undervalued?
BIIB trades at 23.3x P/E, near its 5-year average of 19.6x. The 70th percentile ranking within the 12.0x–32.4x historical range places valuation within normal bounds.
Is BIIB stock expensive?
BIIB is fairly valued relative to its own history. The current P/E of 23.3x is near the 5-year average of 19.6x (70th percentile of historical range).
What is BIIB's historical P/E range?
Over the past 5 years, BIIB's P/E ratio has ranged from 12.0x to 32.4x, with a median of 19.6x and an average of 19.6x. The current P/E of 23.3x places the stock at the 70th percentile of this range. Full historical data spans 1991–2026.
How does BIIB's P/E compare to the S&P 500?
BIIB trades at 23.3x P/E versus the S&P 500 median of 25.9x. The 10% discount to the market suggests lower growth expectations or perceived higher risk.
How does BIIB's valuation compare to Healthcare peers?
Biogen Inc. P/E of 23.3x compares to the Healthcare sector median of 23.4x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is BIIB's PEG ratio?
BIIB PEG ratio is N/A, based on a P/E of 23.3x and EPS growth of -21.1%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is BIIB's earnings yield?
BIIB earnings yield is 4.29%, the inverse of its 23.3x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.