Biogen (NAS:BIIB) Total Inventories

: $1,375 Mil (As of Sep. 2022)

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Biogen's total inventories for the quarter that ended in Sep. 2022 was $1,375 Mil. Biogen's average total inventories from the quarter that ended in Jun. 2022 to the quarter that ended in Sep. 2022 was $1,335 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. Biogen's Net-Net Working Capital per share for the quarter that ended in Sep. 2022 was $-34.67.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Biogen's Days Inventory for the three months ended in Sep. 2022 was 259.39.

Inventory Turnover measures how fast the company turns over its inventory within a year. Biogen's Inventory Turnover for the quarter that ended in Sep. 2022 was 0.35.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Biogen's Inventory-to-Revenue for the quarter that ended in Sep. 2022 was 0.53.

Biogen Total Inventories Historical Data

The historical data trend for Biogen's Total Inventories can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Biogen Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Total Inventories

902.70

929.90

804.20

1,068.60

1,351.50

Biogen Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Total Inventories																1,347.90	1,351.50	1,215.40	1,294.20	1,375.00

Biogen Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

Biogen (NAS:BIIB) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

Biogen's Net-Net Working Capital Per Share for the quarter that ended in Sep. 2022 is

	Net-Net Working Capital Per Share (Q: Sep. 2022 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(4911.1	+	0.75 * 1984.2	+	0.5 * 1375	-	12087.4
-	0	-	-8.7)	/	144
=	-34.67

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Biogen's Days Inventory for the three months ended in Sep. 2022 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Sep. 2022 )	/	Cost of Goods Sold (Q: Sep. 2022 )	*	Days in Period
	=	1334.6	/	469.5	*	365 / 4
	=	259.39

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

Biogen's Inventory Turnover for the quarter that ended in Sep. 2022 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Sep. 2022 )	/	Average Total Inventories (Q: Sep. 2022 )
	=	469.5	/	1334.6
	=	0.35

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Biogen's Inventory to Revenue for the quarter that ended in Sep. 2022 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Sep. 2022 )	/	Revenue (Q: Sep. 2022 )
	=	1334.6	/	2508.5
	=	0.53

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

Biogen Total Inventories Related Terms

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Biogen (NAS:BIIB) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

BIIB:Mexico IDP:Germany BIIB34:Brazil BIIB:Austria BIIB:Argentina

Address

225 Binney Street, Cambridge, MA, USA, 02142

Website

http://www.biogen.com

Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel MS drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is co-promoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with SOBI) were spun off as part of Bioverativ in 2017. Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis. Aduhelm was approved as the firm's first Alzheimer's disease therapy in June 2021, followed by Leqembi in January 2023.

Executives

Christopher Viehbacher	director, officer: President and CEO	C/O AXCELLA HEALTH, INC., 840 MEMORIAL DRIVE, CAMBRIDGE MA 02139
Nicole Murphy	officer: Head of Pharm Ops and Tech	BIOGEN INC., 225 BINNEY STREET, CAMBRIDGE MA 02142
Rachid Izzar	officer: Head of Alzheimer's Disease	BIOGEN INC., 225 BINNEY STREET, CAMBRIDGE MA 02142
Jones William D /ca/	director
Maria C Freire	director	C/O ALEXANDRIA REAL ESTATE EQUITIES, INC, 26 NORTH EUCLID AVENUE, PASADENA CA 91101
Michael R Mcdonnell	officer: EVP, Chief Financial Officer	C/O IQVIA HOLDINGS INC., 83 WOOSTER HEIGHTS ROAD, DANBURY CT 06810
Alphonse Galdes	officer: EVP Pharmaceutical Oper & Tech	BIOGEN INC., 225 BINNEY ST., CAMBRIDGE MA 02142
William A Hawkins	director	MEDTRONIC INC, 710 MEDTRONIC PKWY, MS LC310, MINNEAPOLIS MN 55432-5604
Jesus B Mantas	director	BIOGEN INC., 225 BINNEY STREET, CAMBRIDGE MA 02142
Robin Kramer	officer: VP, Chief Accounting Officer	999 VANDERBILT BEACH ROAD, 3RD FLOOR, NAPLES FL 34109
Daniel Karp	officer: EVP, Corporate Development	225 BINNEY STREET, CAMBRIDGE MA 02142
Jeffrey D Capello	officer: EVP & Chief Financial Officer	C/O NEOGEN CORP., 620 LESHER PLACE, LANSING MI 48912
Chirfi Guindo	officer: EVP Glob. Mkt Acc & Cust Innov	C/O BIOGEN INC., 225 BINNEY ST., CAMBRIDGE MA 02142
Ginger Gregory	officer: EVP, Human Resources	C/O BIOGEN INC., 225 BINNEY ST., CAMBRIDGE MA 02142
Jean-paul Kress	officer: EVP Pres Int'l & Global Hd GTO	215 FIRST STREET, SUITE 415, CAMBRIDGE MA 02142