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Biogen (NAS:BIIB) E10

: $20.01 (As of Sep. 2022)
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E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.

Biogen's adjusted earnings per share data for the three months ended in Sep. 2022 was $7.840. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is $20.01 for the trailing ten years ended in Sep. 2022.

As of today (2022-12-05), Biogen's current stock price is $292.75. Biogen's E10 for the quarter that ended in Sep. 2022 was $20.01. Biogen's Shiller PE Ratio of today is 14.63.

During the past 13 years, the highest Shiller PE Ratio of Biogen was 110.75. The lowest was 9.80. And the median was 34.25.


Biogen (NAS:BIIB) E10 Historical Data

The historical data trend for Biogen's E10 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
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 8.94 10.96 13.97 16.15 17.73

Biogen Quarterly Data
Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
E10 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 17.35 17.73 18.33 19.41 20.01

Biogen (NAS:BIIB) E10 Competitive Comparison

For the Drug Manufacturers - General subindustry, Biogen's E10, along with its competitors' market caps and E10 data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Biogen (NAS:BIIB) E10 Distribution

For the Drug Manufacturers industry and Healthcare sector, Biogen's E10 distribution charts can be found below:

* The bar in red indicates where Biogen's E10 falls into.



Biogen E10 Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller P/E calculation. When we calculate the today's Shiller P/E ratio of a stock, we use today's price divided by E10.

What is E10? How do we calculate E10?

E10 is the average of the inflation adjusted earnings of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the E10 of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the earnings from 2001 through 2010.

We adjusted the earnings of 2001 earnings data with the total inflation from 2001 through 2010 to the equivalent earnings in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart earned $1 a share in 2001, then the 2001's equivalent earnings in 2010 is $1.4 a share. If Wal-Mart earns $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 earnings in 2010 is $1.35. So on and so forth, you get the equivalent earnings of past 10 years. Then you add them together and divided the sum by 10 to get E10.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Biogen's adjusted earnings per share data for the three months ended in Sep. 2022 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Sep. 2022 (Change)*Current CPI (Sep. 2022)
=7.84/125.2265*125.2265
=7.840

Current CPI (Sep. 2022) = 125.2265.

Biogen Quarterly Data

per share eps CPI Adj_EPS
201212 1.230 96.871 1.590
201303 1.790 98.209 2.282
201306 2.060 98.518 2.618
201309 2.050 98.790 2.599
201312 1.920 98.326 2.445
201403 2.020 99.695 2.537
201406 3.010 100.560 3.748
201409 3.620 100.428 4.514
201412 3.740 99.070 4.727
201503 3.490 99.621 4.387
201506 3.930 100.684 4.888
201509 4.150 100.392 5.177
201512 3.770 99.792 4.731
201603 4.430 100.470 5.522
201606 4.790 101.688 5.899
201609 4.710 101.861 5.790
201612 2.990 101.863 3.676
201703 3.460 102.862 4.212
201706 4.070 103.349 4.932
201709 5.790 104.136 6.963
201712 -1.410 104.011 -1.698
201803 5.540 105.290 6.589
201806 4.180 106.317 4.923
201809 7.150 106.507 8.407
201812 4.730 105.998 5.588
201903 7.150 107.251 8.348
201906 7.850 108.070 9.096
201909 8.390 108.329 9.699
201912 8.080 108.420 9.332
202003 8.080 108.902 9.291
202006 9.590 108.767 11.041
202009 4.460 109.815 5.086
202012 2.320 109.897 2.644
202103 2.690 111.754 3.014
202106 2.990 114.631 3.266
202109 2.220 115.734 2.402
202112 2.500 117.630 2.661
202203 2.060 121.301 2.127
202206 7.240 125.017 7.252
202209 7.840 125.227 7.840

Add all the adjusted EPS together and divide 10 will get our e10.


Biogen  (NAS:BIIB) E10 Explanation

If a company grows much fast than inflation, E10 may underestimate the company's earnings power. Shiller PE Ratio can seem to be too high even the actual P/E is low.

For the Shiller P/E, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller P/E is also called PE10.

The Shiller P/E was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.

Biogen's Shiller P/E Ratio of today is calculated as

Shiller PE Ratio=Share Price/E10
=292.75/20.01
=14.63

* 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.

During the past 13 years, the highest Shiller P/E Ratio of Biogen was 110.75. The lowest was 9.80. And the median was 34.25.


Be Aware

Shiller PE Ratio works better for cyclical companies. It gives you a better idea on the company's real earnings power.


Biogen E10 Related Terms

Thank you for viewing the detailed overview of Biogen's E10 provided by GuruFocus.com. Please click on the following links to see related term pages.


Biogen (NAS:BIIB) Business Description

Biogen logo
Address
225 Binney Street, Cambridge, MA, USA, 02142
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.
Executives
Murphy Nicole officer: Head of Pharm Ops and Tech BIOGEN INC. 225 BINNEY STREET CAMBRIDGE MA 02142
Izzar Rachid officer: Head of Alzheimer's Disease BIOGEN INC. 225 BINNEY STREET CAMBRIDGE MA 02142
Jones William D /ca/ director
Freire Maria C director C/O ALEXANDRIA REAL ESTATE EQUITIES, INC 26 NORTH EUCLID AVENUE PASADENA CA 91101
Mcdonnell Michael R officer: EVP, Chief Financial Officer C/O IQVIA HOLDINGS INC. 83 WOOSTER HEIGHTS ROAD DANBURY CT 06810
Galdes Alphonse officer: EVP Pharmaceutical Oper & Tech BIOGEN INC. 225 BINNEY ST. CAMBRIDGE MA 02142
Hawkins William A director MEDTRONIC INC 710 MEDTRONIC PKWY, MS LC310 MINNEAPOLIS MN 55432-5604
Mantas Jesus B director BIOGEN INC. 225 BINNEY STREET CAMBRIDGE MA 02142
Kramer Robin officer: VP, Chief Accounting Officer 999 VANDERBILT BEACH ROAD 3RD FLOOR NAPLES FL 34109
Karp Daniel officer: EVP, Corporate Development 225 BINNEY STREET CAMBRIDGE MA 02142
Capello Jeffrey D officer: EVP & Chief Financial Officer BOSTON SCIENTIFIC CORPORATION ONE BOSTON SCIENTIFIC PLACE NATICK MA 01760
Guindo Chirfi officer: EVP Glob. Mkt Acc & Cust Innov C/O BIOGEN INC. 225 BINNEY ST. CAMBRIDGE MA 02142
Gregory Ginger officer: EVP, Human Resources C/O BIOGEN INC. 225 BINNEY ST. CAMBRIDGE MA 02142
Kress Jean-paul officer: EVP Pres Int'l & Global Hd GTO 215 FIRST STREET, SUITE 415 CAMBRIDGE MA 02142
Mckenzie Paul officer: EVP Pharmaceutical Oper & Tech BIOGEN INC. 225 BINNEY ST. CAMBRIDGE MA 02142

Biogen (NAS:BIIB) Headlines

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