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Biogen (BUE:BIIB) E10

: ARS1,535.74 (As of Dec. 2023)
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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 Dec. 2023 was ARS617.310. Add all the adjusted EPS for the past 10 years together and divide 10 will get our e10, which is ARS1,535.74 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Biogen's average E10 Growth Rate was 2.30% per year. During the past 3 years, the average E10 Growth Rate was 8.60% per year. During the past 5 years, the average E10 Growth Rate was 13.30% per year. During the past 10 years, the average E10 Growth Rate was 20.20% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the E10 growth rate using E10 data.

During the past 13 years, the highest 3-Year average E10 Growth Rate of Biogen was 186.40% per year. The lowest was -64.80% per year. And the median was 43.20% per year.

As of today (2024-04-24), Biogen's current stock price is ARS15674.50. Biogen's E10 for the quarter that ended in Dec. 2023 was ARS1,535.74. Biogen's Shiller PE Ratio of today is 10.21.

During the past 13 years, the highest Shiller PE Ratio of Biogen was 110.75. The lowest was 9.38. And the median was 30.12.


Biogen 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 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
E10
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 176.47 275.35 522.99 1,535.74

Biogen Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
E10 Get a 7-Day Free Trial 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 522.99 642.03 813.33 1,325.40 1,535.74

Competitive Comparison

For the Drug Manufacturers - General subindustry, Biogen's Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio Distribution

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

* The bar in red indicates where Biogen's Shiller PE Ratio 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 Dec. 2023 was:

Adj_EPS= Earnings per Share (Diluted) /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=617.31/129.4194*129.4194
=617.310

Current CPI (Dec. 2023) = 129.4194.

Biogen Quarterly Data

per share eps CPI Adj_EPS
201403 16.017 99.695 20.793
201406 24.456 100.560 31.475
201409 30.477 100.428 39.275
201412 31.981 99.070 41.778
201503 30.781 99.621 39.988
201506 35.710 100.684 45.902
201509 39.020 100.392 50.303
201512 48.795 99.792 63.282
201603 64.696 100.470 83.337
201606 66.963 101.688 85.224
201609 70.258 101.861 89.266
201612 47.399 101.863 60.222
201703 53.343 102.862 67.115
201706 67.106 103.349 84.034
201709 101.461 104.136 126.095
201712 -26.924 104.011 -33.501
201803 111.625 105.290 137.207
201806 104.249 106.317 126.902
201809 263.113 106.507 319.716
201812 178.345 105.998 217.752
201903 279.493 107.251 337.265
201906 350.730 108.070 420.019
201909 469.219 108.329 560.568
201912 482.971 108.420 576.515
202003 501.520 108.902 596.010
202006 656.531 108.767 781.189
202009 331.110 109.815 390.221
202012 188.802 109.897 222.342
202103 242.315 111.754 280.618
202106 283.243 114.631 319.783
202109 217.072 115.734 242.740
202112 252.475 117.630 277.780
202203 221.186 121.301 235.989
202206 871.189 125.017 901.869
202209 1,089.368 125.227 1,125.843
202212 635.393 125.222 656.692
202303 527.459 127.348 536.039
202306 976.800 128.729 982.041
202309 -164.477 129.860 -163.920
202312 617.310 129.419 617.310

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


Biogen  (BUE: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
=15674.50/1535.74
=10.21

* 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 9.38. And the median was 30.12.


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 (BUE:BIIB) Business Description

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 multiple sclerosis drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is copromoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with Sobi) were spun off as part of Bioverativ in 2017. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (post-partum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology-related fields.