BiogenHAM:IDP +4.05%73 Pretax Margin % is 15.24% as of Mar. 2026, which is 58% below its 10-year median of 36.43. GuruFocus rates HAM:IDP with a GF Score™ of 73/100 and a GF Value™ of €166.45 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 952 Drug Manufacturers companies, Biogen ranks better than 73.42% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Biogen's Pre-Tax Income for the
three
months ended in Mar. 2026 was €327 Mil. Biogen's Revenue for the
three
months ended in Mar. 2026 was €2,143 Mil. Therefore, Biogen's pretax margin for the quarter that ended in Mar. 2026 was 15.24%.
The historical rank and industry rank for Biogen's Pretax Margin % or its related term are showing as below:
HAM:IDP'
s Pretax Margin % Range Over the Past 10 Years
Min: 13.18 Med: 36.43 Max: 49.56
Current: 16.33
HAM:IDP's Pretax Margin % is ranked better than 73.42% of 952
companies
in the Drug Manufacturers industry
Industry Median: 7.295
vs HAM:IDP: 16.33
Biogen (HAM:IDP) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Biogen Pretax Margin % Related Terms
Biogen Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Biogen's Pretax Margin % 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.
HAM:IDP vs OGN, AMRN, SCLX: Pretax Margin % Comparison
For the Drug Manufacturers - General subindustry, Biogen's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Biogen's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Biogen's Pretax Margin % falls into.
* 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.
Biogen (HAM:IDP) has a Pretax Margin % of 15.24% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Biogen and its competitors. This is 58% below median its historical median of 36.43. Over the past decade, Biogen's Pretax Margin % has ranged from 13.18 to 49.56. According to the industry distribution chart, Biogen ranks #253 out of 952 companies in the Drug Manufacturers industry, placing it in the top 26.6%.
Is Biogen's Pretax Margin % too high?
Biogen's current Pretax Margin % of 15.24% is 58% below median its 10-year median of 36.43. Over the past 10 years, this metric has ranged from a low of 13.18 to a high of 49.56. The Drug Manufacturers industry median Pretax Margin % is 7.30. Biogen's value of 15.24% is 108.9% above this industry median. Based on the distribution chart, Biogen ranks #253 out of 952 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Biogen has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Biogen's Pretax Margin % compare to OGN and AMRN?
According to the Drug Manufacturers industry distribution chart, Biogen ranks #253 out of 952 companies for Pretax Margin %. This puts Biogen in the upper half of its industry. The industry median Pretax Margin % is 7.30. Biogen's value of 15.24% is 108.9% above this benchmark. Historically, Biogen's own Pretax Margin % has ranged from 13.18 to 49.56 over the past decade. While the company's 10-year median is 36.43 vs. the industry median of 7.30, Biogen has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Pretax Margin % for a Drug Manufacturers company?
The median Pretax Margin % among Drug Manufacturers companies is 7.30, based on 952 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Biogen's current Pretax Margin % of 15.24% is 108.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Biogen and its competitors. For the Drug Manufacturers industry, the median Pretax Margin % is 7.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Biogen's current Pretax Margin % is 15.24%, which is 58% below median its own 10-year median of 36.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Biogen stock overvalued right now?
Based on GuruFocus' analysis, Biogen (HAM:IDP) is currently considered Modestly Overvalued. The stock's GF Value™ is €166.45, compared to a current price of €187.44 — trading 12.6% above its estimated fair value. The current Pretax Margin % is 15.24%, which is 58% below median its 10-year median of 36.43 and 108.9% above the Drug Manufacturers industry median of 7.30. Biogen's overall GF Score™ is 73/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Biogen (HAM:IDP), the current Pretax Margin % is 15.24% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Biogen (HAM:IDP) Overvalued in 2026?
Based on GuruFocus' analysis, Biogen stock appears to be overvalued.
The current stock price of €187.44 is trading 12.6% above its estimated GF Value™ of €166.45.
GuruFocus considers Biogen to be Modestly Overvalued.
Key valuation signals for HAM:IDP:
Pretax Margin %: 15.24% (58% below median its 10-year median of 36.43)
GF Value™: €166.45 vs. price of €187.44 (12.6% above fair value)
Industry Position: 108.9% above the Drug Manufacturers median (#253 of 952)
No single metric tells the full story. See the HAM:IDP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Biogen is an established biopharmaceutical company focused on treatments for neurodegenerative and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 40% of total revenue in 2025. Biogen also generates significant revenue from its CD20 collaboration agreements with Roche (19% of total in 2025), which includes oncology drugs Rituxan and Gazyva and multiple sclerosis drug Ocrevus. Biogen's newer franchises include Spinraza (spinal muscular atrophy, with partner Ionis), Leqembi (Alzheimer's disease, collabroation revenue from its partner Eisai), Skyclarys (Friedreich's ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (amyotrophic lateral sclerosis, Ionis).
73GF Score
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