Biogen (NAS:BIIB) Asset Turnover

: 0.10 (As of Sep. 2022)

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Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Biogen's Revenue for the three months ended in Sep. 2022 was $2,509 Mil. Biogen's Total Assets for the quarter that ended in Sep. 2022 was $24,968 Mil. Therefore, Biogen's Asset Turnover for the quarter that ended in Sep. 2022 was 0.10.

Asset Turnover is linked to ROE % through Du Pont Formula. Biogen's annualized ROE % for the quarter that ended in Sep. 2022 was 36.83%. It is also linked to ROA % through Du Pont Formula. Biogen's annualized ROA % for the quarter that ended in Sep. 2022 was 18.18%.

Biogen Asset Turnover Historical Data

The historical data trend for Biogen's Asset Turnover 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

Asset Turnover

0.53

0.55

0.52

0.45

Biogen Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Asset Turnover																0.12	0.12	0.11	0.11	0.10

Competitive Comparison

For the Drug Manufacturers - General subindustry, Biogen's Asset Turnover, along with its competitors' market caps and Asset Turnover 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.

Annual Data Quarterly Data

Biogen Asset Turnover Distribution

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

* The bar in red indicates where Biogen's Asset Turnover falls in comparison to its industry or sector. The grey bar indicates the Asset Turnover's extreme value range as defined by GuruFocus.

Biogen Asset Turnover Calculation

Asset Turnover measures how quickly a company turns over its asset through sales.

Biogen's Asset Turnover for the fiscal year that ended in Dec. 2021 is calculated as

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (A: Dec. 2021 )	/	( (Total Assets (A: Dec. 2020 )	+	Total Assets (A: Dec. 2021 ))	/ count )
=	10981.7	/	( (24618.9	+	23877.3)	/ 2 )
=	10981.7	/	24248.1
=	0.45

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

	Asset Turnover
=	Revenue	/	Average Total Assets
=	Revenue (Q: Sep. 2022 )	/	( (Total Assets (Q: Jun. 2022 )	+	Total Assets (Q: Sep. 2022 ))	/ count )
=	2508.5	/	( (25081.4	+	24854.2)	/ 2 )
=	2508.5	/	24967.8
=	0.10

Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.

Biogen (NAS:BIIB) Asset Turnover Explanation

Asset Turnover is linked to ROE % through Du Pont Formula.

Biogen's annulized ROE % for the quarter that ended in Sep. 2022 is

	ROE %^**		(Q: Sep. 2022 )
=	Net Income	/	Total Stockholders Equity
=	4538.8	/	12324
=	(Net Income / Revenue)	*	(Revenue / Total Assets)	*	(Total Assets / Total Stockholders Equity)
=	(4538.8 / 10034)	*	(10034 / 24967.8)	*	(24967.8/ 12324)
=	Net Margin %	*	Asset Turnover	*	Equity Multiplier
=	45.23 %	*	0.4019	*	2.0259
=	ROA %	*	Equity Multiplier
=	18.18 %	*	2.0259
=	36.83 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) revenue data.

^** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.

It is also linked to ROA % through Du Pont Formula:

Biogen's annulized ROA % for the quarter that ended in Sep. 2022 is

	ROA %		(Q: Sep. 2022 )
=	Net Income	/	Total Assets
=	4538.8	/	24967.8
=	(Net Income / Revenue)	*	(Revenue / Total Assets)
=	(4538.8 / 10034)	*	(10034 / 24967.8)
=	Net Margin %	*	Asset Turnover
=	45.23 %	*	0.4019
=	18.18 %

Note: The Net Income data used here is four times the quarterly (Sep. 2022) net income data. The Revenue data used here is four times the quarterly (Sep. 2022) revenue data.

Be Aware

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.

Biogen Asset Turnover Related Terms

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Biogen (NAS:BIIB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Biogen Inc (NAS:BIIB) » Definitions » Asset Turnover

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