BIIB Biogen Inc. - Common Stock
About Biogen Inc. - Common Stock Company overview from Wikipedia
Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts, United States specializing in the treatment of neurological diseases. The company's primary products are dimethyl fumarate (Tecfidera), diroximel fumarate (Vumerity), interferon beta-1a (AVONEX), peginterferon beta-1a (Plegridy), and natalizumab (Tysabri), all for the treatment of multiple sclerosis ; nusinersen (Spinraza) for the treatment of spinal muscular atrophy ; omaveloxolone (Skyclarys) for the treatment of Friedreich's ataxia ; tofersen (Qalsody) for the treatment of ALS; and dimethyl fumarate (Fumaderm) for the treatment of severe plaque psoriasis. The company also produces 5 biosimilars and has collaborations with Genentech for several drugs.
Read more
Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts, United States specializing in the treatment of neurological diseases. The company's primary products are dimethyl fumarate (Tecfidera), diroximel fumarate (Vumerity), interferon beta-1a (AVONEX), peginterferon beta-1a (Plegridy), and natalizumab (Tysabri), all for the treatment of multiple sclerosis (collectively 45% of 2024 revenues); nusinersen (Spinraza) for the treatment of spinal muscular atrophy (16.2% of 2024 revenues); omaveloxolone (Skyclarys) for the treatment of Friedreich's ataxia (4.0% of 2024 revenues); tofersen (Qalsody) for the treatment of ALS; and dimethyl fumarate (Fumaderm) for the treatment of severe plaque psoriasis. The company also produces 5 biosimilars (8.2% of 2024 revenues) and has collaborations with Genentech for several drugs (18.1% of 2024 revenues).
The company is ranked 424th on the Fortune 500 and 845th on the Forbes Global 2000.
History
Biogen was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists, including Kenneth Murray from the University of Edinburgh, Phillip Allen Sharp from the Massachusetts Institute of Technology, Walter Gilbert from Harvard University (Gilbert served as CEO during the start-up phase of Biogen), Heinz Schaller from the University of Heidelberg, and Charles Weissmann from the University of Zurich (Weissmann contributed the first product interferon alpha). Gilbert and Sharp were subsequently honored with Nobel Prizes: Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his understanding of DNA sequencing and Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes.
2000s
In 2003, Biogen merged with San Diego, California-based IDEC Pharmaceuticals (formed in 1985 by University of California-San Diego's physicians and immunologists Ivor Royston and Robert E. Sobol, San Diego bio entrepreneur Howard Birndorf, and Stanford University cancer researchers Ron Levy and Richard Miller) and adopted the name Biogen Idec. After the merger, Biogen Idec became the 3rd largest Biotechnology company in the world.
Following shifts in research core areas, the company has since shortened its name, reverting to simply Biogen.
In May 2006, the company announced it would acquire cancer specialist, Conforma Therapeutics for $250 million. Later in the same month, the company announced its intention to acquire Fumapharm AG, consolidating ownership of Fumaderm and BG-12, an oral fumarate, which was being studied for the treatment of multiple sclerosis and psoriasis.
In January 2007, the company announced it would acquire Syntonix Pharmaceuticals for up to $120 million, gaining Syntonix's lead product for hemophilia B as well as the technology for developing inhalable treatments.
In 2008, two new brain infection cases from Tysabri users surfaced in Europe that raised international concern about Tysabri and its effects with the progressive multifocal leukoencephalopathy (PML) brain condition. Biogen is one of the drug's producers.
2010s
In 2011, Biogen announced that its drug Fampyra received conditional marketing approval. Under the conditional approval, Biogen agrees to provide additional data on the long-term benefits and safety of Fampyra. On December 10, 2012, Biogen announced its global collaboration agreement with Isis Pharmaceuticals to develop and research antisense drugs to treat neurological and neuromuscular diseases. In February 2013, Bloomberg broke the news that Biogen was planning to pay Elan $3.25 billion for the full rights to Tysabri, used to treat multiple sclerosis. In 2013, Biogen was the first U.S.-based biotechnology company to appear on the Dow Jones Sustainability World Index.
In January 2015, the company announced that it would acquire Convergence Pharmaceuticals for up to $675 million, with the acquisition aiming to accelerate the development of Convergence's pipeline, in particular CNV1014802 – a Phase II small molecule sodium channel blocking candidate. In October 2015, the company announced that it would lay off 11% of its workforce, effective immediately.
On May 3, 2016, Biogen announced plans to spin off its hemophilia business, known as Bioverativ as an independent publicly traded company. Bioverativ offered two hemophilia drugs in 2016, Alprolix and Eloctate, and plans on developing its Hemophilia-focused goals.
In 2016, Biogen released Spinraza (nusinersin), a treatment for Spinal Muscular Atrophy. The drug is among the most expensive treatments available, with a price of $750,000 for the first year of doses, and $375,000 for each subsequent year and likely for the rest of a patient's life. While there still isn't a cure, Spinraza significantly improves the quality of life in infants and adults.
In 2017, Biogen announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval. EU multiple sclerosis (MS) patients use Fampyra to improve walking. In January 2017, the company completed the corporate spin-off its hemophilia drug business (Eloctate and Alprolix) into a public company, later named Bioverativ. It was acquired by Sanofi in 2018 for $11.6 billion.
2020s
In February 2020, Biogen and Sangamo Therapeutics announced a global licensing deal to develop compounds for neuromuscular and neurological diseases.
Conference event during COVID-19 pandemic
On March 5, 2020, Biogen reported that three individuals who met with their employees at a conference in Boston had tested positive for COVID-19 the previous week. On March 6, public health officials reported five new cases associated with the Biogen leadership meeting and by March 9, Massachusetts health officials had announced 30 new presumptive COVID-19 cases, all connected to the Biogen conference. Researchers first estimated that the conference would be linked to over 20,000 of the state's COVID-19 cases. Researchers later estimated that up to 300,000 cases worldwide had been caused by the Biogen conference, including 1.6% of all U.S. cases of COVID-19.
In September 2020, Biogen Inc. made a $10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities. In November, the company announced it would acquire a $650 million stake in Cambridge-based Sage Therapeutics and make an upfront payment of $875 million, in order to jointly develop depression treatments.
In July 2023, Biogen acquired Reata Pharmaceuticals, headquartered in Plano, Texas, for nearly $6.5 billion. That month, the company also cut 1,000 jobs, or 11% of its workforce. In May 2024, Biogen acquired Human Immunology Biosciences (HI-Bio) for $1.15 billion. In July 2025, the company announced a $2 billion investment in manufacturing facilities in Research Triangle Park. In September 2025, the company agreed to acquire Alcyone Therapeutics for $85 million. In November 2025, it was announced the acquisition had been completed. In March 2026, Biogen paid Alteogen $20 million upfront to use its ALT-B4 enzyme technology to convert two undisclosed intravenous biologics into subcutaneous injections, potentially worth up to $579 million in future milestones.
Aducanumab
In 2007, the company reached a licensing agreement with Neurimmune, a spin-off from the University of Zurich, for the Alzheimer's disease drug, Aducanumab, developed by this Swiss company. Later, Neurimmune sold its rights for license fees for $200 million to Biogen.
In December 2014, Biogen announced that Aducanumab for Alzheimer's treatment was preparing to go through a late-stage trial of its experimental Alzheimer's disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early-stage study.
In March 2015, Aducanumab became the first experimental Alzheimer's treatment to show significant results in regard to slowing down cognitive decline and reducing brain-destroying plaques. In July 2015, Biogen initiated two late-stage studies called ENGAGE and EMERGE, which will assess Aducanumab in adults with early Alzheimer's disease.
In 2016, Aducanumab decreased amoyloid-beta in the brains of people with early-stage Alzheimer's disease, according to a report published in Nature on August 31, 2016. On March 21, 2019, Biogen announced that the Phase 3 clinical trials of Aducanumab were halted. Biogen announced it would acquire Nightstar Therapeutics for $25.50 per share ($800 million in total). Nightstar focused on adeno-associated virus based gene-therapies for inherited retinal disorders. With a setback in their drug research, Biogen's shares fell sharply that same month. It ended the trial of Aducanumab, which it was making along with Eisai. In October 2019, however, they announced that they would pursue FDA approval together with Eisai.
On October 22, 2019, despite two Phase 3 clinical trials being previously halted for futility, Biogen announced its plan to submit for FDA's approval of Aducanumab. In May 2020, Biogen wrapped up construction on a state-of-the-art facility in Solothurn, Switzerland, which will produce Aducanumab by late 2021, alongside its North Carolina manufacturing facility. The monoclonal antibody, co-developed with Eisai, attracted considerable interest from biotech investors when Warren Buffett's Berkshire Hathaway bought 648,447 Biogen shares at a combined value of $192.4 million.
On July 8, 2020, Biogen and Eisai announced that both companies had together successfully submitted for Aducanumab's FDA regulatory and marketing approval.
On June 7, 2021, the FDA gave accelerated approval to Aducanumab under the name Aduhelm, which proved to be controversial. The drug was priced at $56,000 US dollars per year, but it was not covered by many insurers as they awaited further proof that the drug was effective. The US Government did not subsidise it outside clinical trials. According to the FDA's website, the drug was proven to reduce amyloid-beta plaques in the brain, which was likely to benefit patients. The FDA has stated that if the post-approval trial did not indicate that Aduhelm works, the drug may be taken out of the market.
Biogen abandoned the drug in January 2024, for financial reasons.
Acquisition history
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Finances
Products
Pipeline
Investigational MS medicines:
Daclizumab High-Yield Process (DAC HYP): is being developed as a potential once-monthly subcutaneous injection in the treatment of relapsing-remitting multiple sclerosis (RRMS). DAC HYP is being developed in collaboration with Abbvie, Inc. In June 2014, the companies announced positive top-line results from the Phase III DECIDE clinical trial, where DAC HYP demonstrated superiority over interferon beta-1a in annualized relapse rate.
Anti-LINGO-1 (BIIB033) (Opicinumab): is the first candidate being investigated for its potential to remyelinate and repair neurons damaged by MS. Phase II trials were conducted in 2016 but failed to reach their goals.
Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases:
Phase 2a: anti-LINGO-1 molecule (Opicinumab) in acute optic neuritis
Phase 2b: anti-TWEAK monoclonal antibody in lupus nephritis
Phase 2a: STX-100 in patients with idiopathic pulmonary fibrosis
Phase 2: Neublastin for neuropathic pain in 2013
Phase 2: BIIB080 for neurodegenerative diseases in 2026, targeting tau protein
Phase 1/2: BIIB067 (ISIS-SOD1Rx) for amyotrophic lateral sclerosis, in collaboration with Ionis
Biogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders.
In February 2012, Biogen formed a joint venture with Samsung, Samsung Bioepis. Samsung acquired Biogen's interest in the venture in January 2022 for up to $2.3 billion.
In early 2014, Biogen entered into an agreement with Eisai to jointly develop and commercialize two of their candidates for Alzheimer's disease, which have the potential to reduce Aβ plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.
Biogen also has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases, including X-linked retinoschisis (XLRS) and X-linked Retinitis pigmentosa (XLRP) ophthalmologic diseases. Biogen paid AGTC $124 million, including an equity investment of $30 million, and offered up to $1.1 billion in future milestone payments.
In March 2019, Biogen halted Phase 3 trials of Alzheimer's disease drug Aducanumab after "an independent group's analysis show[ed] that the trials were unlikely to 'meet their primary endpoint.'" However, in October 2019 they reversed their plans and said that they would be pursuing US FDA approval for Aducanumab. The reversal came after Biogen said a new analysis of a larger patient pool showed promising results. In July 2020, Biogen completed submission of a Biologics license application (BLA) to the FDA for review, and requested accelerated review. However, an advisory panel for the FDA voted against approval of this drug. On June 7, 2021, the FDA granted approval of Aducanumab for the treatment of Alzheimer's disease. Aducanumab was approved using the accelerated approval pathway, and Biogen will be required to conduct a post-approval clinical trial to verify clinical benefit for continued approval.
Lawsuits
In September 2022, Biogen agreed to pay $900 million to the U.S. federal government, states, and a whistleblower. Biogen had bribed doctors between 2009 and 2014 to increase prescriptions of Avonex, Tysabri, and Tecfidera (all for multiple sclerosis).
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
BIIB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
BIIB Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
BIIB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 9 20.9%
- Buy 20 46.5%
- Hold 13 30.2%
- Sell 1 2.3%
- Strong Sell 0 0.0%
12-Month Price Target
31 analysts · 2026-08-13Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $3.60 | $3.01 | 0.59% |
| March 31, 2026 | $3.57 | $2.83 | 0.74% |
| Dec. 31, 2025 | $1.99 | $1.65 | 0.34% |
| Sept. 30, 2025 | $4.81 | $3.96 | 0.85% |
| June 30, 2025 | $5.47 | $3.94 | 1.5% |
| March 31, 2025 | $3.02 | $2.58 | 0.44% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BIIB | $25.84B | 20.0 | 2.2% | 13.1% | 7.2% | — |
| VRTX | $115.15B | 29.6 | 8.9% | 32.9% | 22.1% | — |
| REGN | $106.21B | 18.6 | 0.99% | 31.4% | 14.7% | — |
| NTRA | $32.00B | -150.7 | 35.9% | -9.0% | -14.1% | — |
| RVMD | — | — | — | — | — | — |
| ALNY | $52.64B | 170.7 | 65.2% | 8.5% | 60.4% | — |
| INSM | $37.29B | -27.1 | 66.7% | -210.5% | -128.4% | — |
| MRNA | $11.62B | -4.1 | -39.9% | -145.2% | -31.3% | — |
| INCY | $19.60B | 15.4 | 21.2% | 25.0% | 27.6% | — |
| UTHR | $21.27B | 17.5 | 10.6% | 41.9% | 18.7% | 87.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.89B | $9.68B | $9.84B | $10.17B | $10.98B | $13.44B | $14.38B | $13.45B | $12.27B | $11.45B | $10.76B | $9.70B | |
| Cost of Revenue | $2.40B | $2.31B | $2.53B | $2.28B | $2.11B | $1.81B | $1.96B | $1.82B | $1.63B | $1.48B | $1.24B | $1.17B | |
| Gross Profit | · | · | · | · | · | $11.64B | $12.42B | $11.64B | $10.64B | $9.97B | $9.52B | $8.53B | |
| SG&A Expense | $2.43B | $2.40B | $2.55B | $2.40B | $2.67B | $2.50B | $2.37B | $2.11B | $1.93B | $1.95B | $2.11B | $2.23B | |
| Operating Expenses | $8.33B | $7.77B | $8.54B | $6.58B | $9.24B | $8.40B | $7.34B | $7.56B | $6.93B | $6.30B | $5.87B | $5.75B | |
| Operating Income | · | · | · | · | $2.84B | $4.55B | $7.04B | $5.89B | $5.35B | $5.15B | $4.89B | $3.97B | |
| Interest Expense | $268M | $250M | $247M | $247M | $254M | $222M | $187M | $201M | $251M | $260M | $96M | $30M | |
| Interest Income | $125M | $68M | $276M | $89M | $11M | $42M | $120M | $112M | $78M | $63M | $22M | $12M | |
| Other Non-op | $-25M | $3M | $-400.0K | $10M | $6M | $-3M | $-47M | $-10M | $-15M | $-18M | $-14M | $-26M | |
| Pretax Income | $1.56B | $1.91B | $1.30B | $3.59B | $1.75B | $5.05B | $7.13B | $5.90B | $5.13B | $4.93B | $4.77B | $3.95B | |
| Income Tax | $264M | $274M | $135M | $633M | $52M | $992M | $1.16B | $1.43B | $2.46B | $1.24B | $1.16B | $990M | |
| Net Income | $1.29B | $1.63B | $1.16B | $3.05B | $1.56B | $4.00B | $5.89B | $4.43B | $2.54B | $3.70B | $3.55B | $2.93B | |
| EPS (Basic) | $8.83 | $11.21 | $8.02 | $20.96 | $10.44 | $24.86 | $31.47 | $21.63 | $11.94 | $16.96 | $15.38 | $12.42 | |
| EPS (Diluted) | $8.79 | $11.18 | $7.97 | $20.87 | $10.40 | $24.80 | $31.42 | $21.58 | $11.92 | $16.93 | $15.34 | $12.37 | |
| Shares (Basic) | 146,500,000 | 145,600,000 | 144,700,000 | 145,300,000 | 149,100,000 | 160,900,000 | 187,100,000 | 204,900,000 | 212,600,000 | 218,400,000 | 230,700,000 | 236,400,000 | |
| Shares (Diluted) | 147,100,000 | 145,900,000 | 145,600,000 | 146,000,000 | 149,600,000 | 161,300,000 | 187,400,000 | 205,300,000 | 213,000,000 | 218,800,000 | 231,200,000 | 237,200,000 | |
| EBITDA | $780M | $673M | $495M | $518M | $3.33B | $5.01B | $7.72B | $6.91B | $6.43B | $5.83B | $5.49B | $4.66B |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | · | · | · | · | $2.91B | $1.22B | $1.57B | $2.33B | $1.31B | $1.20B | |
| Short-term Investments | · | · | · | · | · | · | $1.56B | $2.31B | $2.12B | $2.57B | $2.12B | $640M | |
| Receivables | $1.34B | $1.40B | $1.66B | $1.71B | $1.55B | $1.91B | $1.88B | $1.96B | $1.79B | $1.44B | $1.23B | $1.29B | |
| Inventory | $2.17B | $2.46B | $2.53B | $1.34B | $1.35B | $1.07B | $804M | $930M | $903M | $1.00B | $893M | $804M | |
| Other Current Assets | $1.12B | $752M | $1.18B | $1.42B | $741M | $881M | $631M | $688M | $962M | $1.09B | $837M | $310M | |
| Current Assets | $8.97B | $7.46B | $6.86B | $9.79B | $7.86B | $6.89B | $8.38B | $7.64B | $7.87B | $8.73B | $6.70B | $4.54B | |
| PP&E (Net) | $3.06B | $3.18B | $3.31B | $3.30B | $3.42B | $3.41B | $3.25B | $3.60B | $3.18B | $2.50B | $2.19B | $1.77B | |
| PP&E (Gross) | $5.99B | $5.85B | $5.71B | $5.46B | $5.42B | $5.19B | $4.84B | $5.40B | $4.74B | $3.94B | $3.52B | $2.95B | |
| Accum. Depreciation | $2.90B | $2.67B | $2.40B | $2.17B | $2.01B | $1.78B | $1.59B | $1.80B | $1.56B | $1.44B | $1.33B | $1.19B | |
| Goodwill | $6.49B | $6.48B | $6.22B | $5.75B | $5.76B | $5.76B | $5.76B | $5.71B | $4.63B | $3.67B | $2.66B | $1.76B | |
| Intangibles | $9.18B | $9.69B | $8.36B | $1.85B | $2.22B | $3.08B | $3.53B | $3.12B | $3.88B | $3.81B | $4.09B | $4.03B | |
| Other Non-current Assets | $751M | $560M | $745M | $1.53B | $1.94B | $2.90B | $1.25B | $1.69B | $432M | $1.34B | $1.11B | $755M | |
| Total Assets | $29.44B | $28.05B | $26.84B | $24.55B | $23.88B | $24.62B | $27.23B | $25.29B | $23.65B | $22.88B | $19.50B | $14.31B | |
| Accounts Payable | $432M | $424M | $403M | $492M | $589M | $455M | $531M | $370M | $396M | $280M | $267M | $229M | |
| Short-term Debt | · | $1.75B | $150M | $0 | $999M | $0 | $1.50B | $0 | · | · | · | · | |
| Current Liabilities | $3.35B | $5.53B | $3.43B | $3.27B | $4.30B | $3.74B | $4.86B | $3.30B | $3.37B | $3.42B | $2.58B | $2.22B | |
| Capital Leases | $290M | $334M | $400M | $333M | $330M | $402M | $413M | $0 | · | · | · | · | |
| Deferred Tax | $508M | $190M | $642M | $335M | $694M | $1.03B | $2.81B | $1.64B | $123M | $93M | $125M | $52M | |
| Other Non-current Liabilities | $748M | $732M | $781M | $944M | $1.32B | $1.33B | $1.35B | $1.39B | $1.63B | $722M | $906M | $650M | |
| Total Liabilities | $11.18B | $11.33B | $12.05B | $11.17B | $12.92B | $13.93B | $13.90B | $12.26B | $11.05B | $10.75B | $10.13B | $3.50B | |
| Long-term Debt | $6.29B | $4.55B | $6.79B | $6.28B | $6.27B | $7.43B | $4.46B | $5.94B | $5.93B | $6.51B | $6.52B | $580M | |
| Common Stock | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | |
| Paid-in Capital | $863M | $569M | $302M | $73M | $68M | $0 | $0 | $0 | $98M | $0 | $0 | $4.20B | |
| Retained Earnings | $20.55B | $19.26B | $17.63B | $16.47B | $13.91B | $13.98B | $16.46B | $16.26B | $15.81B | $15.07B | $12.21B | $9.28B | |
| Treasury Stock | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.61B | $2.61B | $2.61B | |
| AOCI | $-182M | $-136M | $-154M | $-165M | $-107M | $-299M | $-135M | $-240M | $-318M | $-320M | $-224M | $-60M | |
| Stockholders' Equity | $18.26B | $16.72B | $14.80B | $13.39B | $10.96B | $10.70B | $13.34B | $13.04B | $12.61B | $12.14B | $9.37B | $10.81B | |
| Liabilities + Equity | $29.44B | $28.05B | $26.84B | $24.55B | $23.88B | $24.62B | $27.23B | $25.29B | $23.65B | $22.88B | $19.50B | $14.31B | |
| Shares Outstanding | 170,500,000 | 169,500,000 | 144,900,000 | 167,900,000 | 170,800,000 | 176,200,000 | 174,200,000 | 197,200,000 | 211,500,000 | 215,900,000 | 218,600,000 | 234,600,000 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $780M | $673M | $495M | $518M | $488M | $457M | $465M | $650M | $1.08B | $683M | $600M | $688M | |
| Stock-based Comp | $291M | $291M | $264M | $254M | $239M | $198M | $182M | $158M | $128M | $155M | $161M | $155M | |
| Deferred Tax | $362M | $-158M | $-306M | $-169M | $-427M | $149M | $67M | $108M | $92M | $-175M | $-146M | $-308M | |
| Amort. of Intangibles | $507M | $386M | $241M | $246M | $252M | $255M | $274M | $381M | $455M | $373M | $383M | $490M | |
| Restructuring | $49M | $30M | $219M | $131M | $0 | $0 | $2M | $12M | $900.0K | $33M | $93M | $0 | |
| Other Non-cash | $-521M | $437M | $-67M | $-2.27B | $1.78B | $-575M | $260M | $475M | $711M | $157M | $-447M | $-528M | |
| Operating Cash Flow | $2.20B | $2.88B | $1.55B | $1.38B | $3.64B | $4.23B | $7.08B | $6.19B | $4.55B | $4.59B | $3.92B | $2.94B | |
| CapEx | $154M | $154M | $277M | $240M | $258M | $425M | $514M | $771M | $867M | $616M | $643M | $288M | |
| Investing Cash Flow | $-1.37B | $-799M | $-4.10B | $1.58B | $-564M | $-609M | $470M | $-2.05B | $-2.96B | $-2.48B | $-4.55B | $-1.54B | |
| Debt Issued | $1.73B | $0 | $997M | $0 | $0 | $2.97B | $0 | $0 | · | · | · | · | |
| Net Debt Issued | $-17M | $0 | $997M | $0 | $0 | $2.97B | · | · | · | · | · | · | |
| Stock Repurchased | · | $0 | $0 | $750M | $1.80B | $6.68B | $5.87B | $4.35B | $1.37B | $1.00B | $5.00B | $887M | |
| Net Stock Activity | · | $0 | $0 | $-750M | $-1.80B | $-6.68B | $-5.87B | $-4.35B | $-1.37B | $-1.00B | $-5.00B | $-887M | |
| Financing Cash Flow | $-302M | $-684M | $149M | $-1.75B | $-2.09B | $-5.27B | $-5.86B | $-4.47B | $-2.38B | $-1.05B | $783M | $-756M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | $-792M | $1.05B | $149M | $643M | |
| Taxes Paid | $864M | $355M | $741M | $933M | $248M | $907M | $1.06B | $1.01B | $1.07B | $1.64B | $1.67B | $1.16B | |
| Free Cash Flow | $2.05B | $2.72B | $1.27B | $1.14B | $3.38B | $3.81B | $6.56B | $5.42B | $3.68B | $3.91B | $3.07B | $2.65B | |
| Levered FCF | $1.83B | $2.51B | $1.05B | $941M | $3.14B | $3.63B | $6.41B | $5.26B | $3.55B | $3.71B | $3.00B | $2.63B |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | 86.6% | 86.4% | 86.5% | 86.7% | 87.1% | 88.5% | 87.9% | |
| Operating Margin | · | · | · | · | 25.9% | 33.8% | 49.0% | 43.8% | 43.5% | 45.0% | 45.4% | 40.9% | |
| Net Margin | 13.1% | 16.9% | 11.8% | 29.9% | 14.2% | 29.8% | 41.0% | 32.9% | 20.7% | 32.3% | 33.0% | 30.2% | |
| Pretax Margin | 15.7% | 19.7% | 13.2% | 35.3% | 15.9% | 37.5% | 49.6% | 43.9% | 41.8% | 43.1% | 44.3% | 40.7% | |
| EBITDA Margin | 7.9% | 7.0% | 5.0% | 5.1% | 30.3% | 37.2% | 53.7% | 51.3% | 52.3% | 50.9% | 51.0% | 48.0% | |
| ROA | 4.5% | 5.9% | 4.5% | 12.6% | 6.4% | 15.4% | 22.4% | 18.1% | 10.9% | 17.5% | 21.0% | 22.4% | |
| ROE | 7.2% | 9.9% | 7.9% | 25.0% | 14.4% | 33.3% | 44.8% | 33.1% | 20.5% | 34.4% | 35.1% | 30.2% | |
| ROIC | · | · | · | · | 25.3% | 34.2% | 44.2% | 34.2% | 22.1% | 31.8% | 39.5% | 27.5% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.7 | 1.3 | 2.0 | 3.0 | 1.8 | 1.8 | 1.7 | 2.3 | 2.3 | 2.6 | 2.6 | 2.1 | |
| Quick Ratio | 0.4 | 0.3 | 0.5 | 0.5 | 0.4 | 0.5 | 1.3 | 1.7 | 1.6 | 1.9 | 1.8 | 1.4 | |
| Interest Coverage | · | · | · | · | 11.2 | 20.4 | 37.6 | 29.4 | 21.3 | 19.8 | 51.2 | 134.7 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | |
| Inventory Turnover | 1.0 | 0.9 | 1.3 | 1.7 | 1.7 | 1.9 | 2.3 | 2.0 | 1.7 | 1.6 | 1.5 | 1.6 | |
| Receivables Turnover | 7.2 | 6.3 | 5.8 | 6.3 | 6.3 | 7.1 | 7.5 | 7.2 | 7.6 | 8.6 | 8.5 | 9.2 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 2.2% | -1.6% | -3.3% | -7.4% | -18.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -0.94% | -4.1% | -9.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -6.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -21.4% | 40.3% | -61.8% | 100.7% | -58.1% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -25.0% | 2.4% | -31.5% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -18.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -20.8% | 40.6% | -61.9% | 95.8% | -61.1% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -24.9% | 1.6% | -33.8% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -20.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $9.89B | $9.68B | $9.84B | $10.17B | $10.98B | $13.44B | $14.38B | $13.45B | $12.27B | $11.45B | $10.76B | $9.70B | |
| Net Income TTM | $1.29B | $1.63B | $1.16B | $3.05B | $1.56B | $4.00B | $5.89B | $4.43B | $2.54B | $3.70B | $3.55B | $2.93B | |
| Market Cap | $25.84B | $22.30B | $37.50B | $39.88B | $35.27B | $37.32B | $51.69B | $59.34B | $67.38B | $61.22B | $66.97B | $79.62B | |
| P/E | 20.0 | 13.7 | 32.5 | 13.3 | 23.1 | 9.9 | 9.4 | 13.9 | 26.7 | 16.8 | 20.0 | 27.4 | |
| P/S | 2.6 | 2.3 | 3.8 | 3.9 | 3.2 | 2.8 | 3.6 | 4.4 | 5.5 | 5.3 | 6.2 | 8.2 | |
| P/B | 1.4 | 1.3 | 2.5 | 3.0 | 3.2 | 3.5 | 3.9 | 4.6 | 5.3 | 5.0 | 7.1 | 7.4 | |
| P / Tangible Book | 10.0 | 40.8 | 172.6 | 6.9 | 11.8 | 20.1 | · | · | · | · | · | · | |
| P / Cash Flow | 11.7 | 7.8 | 24.2 | 28.8 | 9.7 | 8.8 | 7.3 | 9.6 | 14.8 | 13.5 | 18.0 | 27.1 | |
| P / FCF | 12.6 | 8.2 | 29.5 | 34.9 | 10.4 | 9.8 | 7.9 | 11.0 | 18.3 | 15.7 | 21.8 | 30.0 | |
| Earnings Yield | 5.0% | 7.3% | 3.1% | 7.5% | 4.3% | 10.1% | 10.6% | 7.2% | 3.7% | 6.0% | 5.0% | 3.6% |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.74B | $2.48B | $2.28B | $2.53B | $2.65B | $2.43B | $2.45B | $2.47B | $2.46B | $2.29B | $2.39B | $2.53B | $2.46B | $2.46B | $2.54B | $2.51B | |
| Cost of Revenue | $777M | $661M | $496M | $674M | $605M | $629M | $584M | $639M | $546M | $542M | $618M | $660M | $593M | $663M | $571M | $470M | |
| SG&A Expense | $710M | $607M | $682M | $595M | $584M | $572M | $680M | $588M | $554M | $582M | $608M | $788M | $548M | $605M | $633M | $563M | |
| Operating Expenses | $2.60B | $2.10B | $2.34B | $1.98B | $1.90B | $2.12B | $2.16B | $2.01B | $1.77B | $1.83B | $2.09B | $2.67B | $1.75B | $2.02B | $1.94B | $1.14B | |
| Interest Expense | $82M | $68M | $68M | $67M | $73M | $60M | $60M | $60M | $61M | $69M | $72M | $64M | $49M | $62M | $55M | $60M | |
| Interest Income | $25M | $38M | $37M | $32M | $32M | $24M | $18M | $12M | $20M | $17M | $24M | $96M | $76M | $81M | $50M | $24M | |
| Other Non-op | $3M | $-1M | $-37M | $16M | $2M | $2M | $8M | $-800.0K | $-2M | $-2M | $5M | $-3M | $-2M | $600.0K | $35M | $2M | |
| Pretax Income | $132M | $378M | $-56M | $557M | $744M | $311M | $292M | $451M | $699M | $465M | $292M | $-141M | $708M | $438M | $604M | $1.37B | |
| Income Tax | $35M | $58M | $-7M | $91M | $109M | $71M | $25M | $62M | $115M | $71M | $43M | $-73M | $115M | $51M | $54M | $236M | |
| Net Income | $98M | $320M | $-49M | $466M | $635M | $240M | $267M | $388M | $584M | $393M | $250M | $-68M | $592M | $388M | $550M | $1.13B | |
| EPS (Basic) | $0.66 | $2.17 | $-0.33 | $3.18 | $4.33 | $1.65 | $1.82 | $2.67 | $4.01 | $2.71 | $1.71 | $-0.47 | $4.09 | $2.69 | $3.79 | $7.86 | |
| EPS (Diluted) | $0.66 | $2.15 | $-0.35 | $3.17 | $4.33 | $1.64 | $1.82 | $2.66 | $4.00 | $2.70 | $1.70 | $-0.47 | $4.07 | $2.67 | $3.73 | $7.84 | |
| Shares (Basic) | 147,700,000 | 147,200,000 | -292,700,000 | 146,600,000 | 146,500,000 | 146,100,000 | -290,900,000 | 145,700,000 | 145,600,000 | 145,200,000 | -289,200,000 | 144,800,000 | 144,700,000 | 144,400,000 | -292,100,000 | 144,400,000 | |
| Shares (Diluted) | 148,700,000 | 148,400,000 | -293,300,000 | 147,100,000 | 146,700,000 | 146,600,000 | -292,000,000 | 146,100,000 | 145,900,000 | 145,900,000 | -289,900,000 | 144,800,000 | 145,500,000 | 145,200,000 | -292,600,000 | 144,800,000 | |
| EBITDA | · | $204M | · | · | · | $183M | · | · | · | $148M | · | · | · | $112M | · | · |
Balance Sheet 28
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Receivables | · | · | $1.34B | · | · | · | $1.40B | · | · | · | · | · | · | $1.63B | · | $1.57B | |
| Inventory | $2.38B | $1.95B | $2.17B | $2.21B | $2.27B | $2.27B | $2.46B | $2.47B | $2.51B | $2.52B | · | $2.98B | $1.33B | $1.28B | · | $1.38B | |
| Other Current Assets | $1.24B | $1.17B | $1.12B | $917M | $851M | $757M | $752M | $674M | $615M | $1.17B | · | $974M | $896M | $1.41B | · | $1.50B | |
| Current Assets | $7.31B | $9.19B | $8.97B | $8.94B | $7.97B | $7.63B | $7.46B | $6.83B | $7.11B | $6.76B | · | $8.45B | $10.43B | $9.76B | · | $9.77B | |
| PP&E (Net) | $2.99B | $3.02B | $3.06B | $3.08B | $3.10B | $3.13B | $3.18B | $3.21B | $3.25B | $3.28B | · | $3.30B | $3.31B | $3.30B | · | $3.27B | |
| PP&E (Gross) | · | · | $5.99B | · | · | · | $5.85B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $3.10B | $3.00B | $2.93B | $2.87B | $2.81B | $2.74B | $2.67B | $2.60B | $2.54B | $2.47B | · | $2.34B | $2.28B | $2.22B | · | $2.10B | |
| Goodwill | $6.99B | $6.49B | $6.49B | $6.49B | $6.49B | $6.48B | $6.48B | $6.49B | $6.23B | $6.23B | $6.22B | $6.81B | $5.75B | $5.75B | $5.75B | $5.74B | |
| Intangibles | $13.52B | $9.05B | $9.18B | $9.33B | $9.47B | $9.58B | $9.69B | $9.81B | $8.23B | $8.28B | · | $7.34B | $1.78B | $1.81B | · | $2.01B | |
| Other Non-current Assets | $832M | $778M | $751M | $730M | $638M | $559M | $560M | $631M | $682M | $698M | · | $755M | $1.10B | $1.38B | · | $1.61B | |
| Total Assets | $32.09B | $29.48B | $29.44B | $29.21B | $28.33B | $28.03B | $28.05B | $28.31B | $26.80B | $26.57B | · | $28.19B | $25.16B | $24.60B | · | $24.85B | |
| Accounts Payable | $404M | $358M | $432M | $413M | $408M | $392M | $424M | $423M | $354M | $387M | · | $440M | $445M | $491M | · | $383M | |
| Short-term Debt | · | · | · | $0 | $0 | $1.75B | · | $1.75B | $0 | $250M | · | $500M | · | · | · | $0 | |
| Current Liabilities | $3.92B | $3.00B | $3.35B | $3.29B | $3.18B | $5.30B | $5.53B | $5.42B | $3.11B | $3.22B | · | $5.02B | $3.19B | $3.01B | · | $3.93B | |
| Capital Leases | $265M | $273M | $290M | $305M | $311M | $323M | $334M | $357M | $368M | $406M | · | $429M | $304M | $327M | · | $355M | |
| Deferred Tax | $946M | $484M | $508M | $358M | $118M | $133M | $190M | $882M | $591M | $658M | · | $728M | $144M | $251M | · | $329M | |
| Other Non-current Liabilities | $821M | $787M | $748M | $762M | $800M | $752M | $732M | $744M | $557M | $777M | · | $748M | $777M | $936M | · | $1.20B | |
| Total Liabilities | $13.24B | $10.83B | $11.18B | $11.00B | $10.70B | $11.05B | $11.33B | $11.95B | $10.91B | $11.35B | · | $13.71B | $10.70B | $10.81B | · | $12.09B | |
| Long-term Debt | $7.29B | $6.29B | $6.29B | $6.29B | $6.28B | $4.55B | · | $4.55B | $6.29B | $6.29B | · | $6.79B | $6.28B | $6.28B | · | $6.28B | |
| Total Debt | · | · | · | $0 | $0 | $1.75B | · | $1.75B | $0 | $250M | · | $500M | · | · | · | $0 | |
| Common Stock | $100.0K | $100.0K | · | $100.0K | $100.0K | $100.0K | · | $100.0K | $100.0K | $100.0K | · | $100.0K | $100.0K | $100.0K | · | $100.0K | |
| Paid-in Capital | $983M | $897M | $863M | $798M | $714M | $630M | $569M | $488M | $408M | $330M | · | $242M | $171M | $91M | · | $0 | |
| Retained Earnings | $20.97B | $20.87B | $20.55B | $20.60B | $20.14B | $19.50B | $19.26B | $18.99B | $18.60B | $18.02B | · | $17.38B | $17.45B | $16.85B | · | $15.92B | |
| Treasury Stock | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | $2.98B | · | $2.98B | $2.98B | $2.98B | · | $2.98B | |
| AOCI | $-128M | $-140M | $-182M | $-215M | $-238M | $-174M | $-136M | $-146M | $-146M | $-160M | · | $-159M | $-173M | $-172M | · | $-164M | |
| Stockholders' Equity | $18.85B | $18.65B | $18.26B | $18.21B | $17.63B | $16.98B | $16.72B | $16.36B | $15.89B | $15.21B | $14.80B | $14.48B | $14.47B | $13.80B | $13.39B | $12.78B | |
| Liabilities + Equity | $32.09B | $29.48B | $29.44B | $29.21B | $28.33B | $28.03B | $28.05B | $28.31B | $26.80B | $26.57B | · | $28.19B | $25.16B | $24.60B | · | $24.85B | |
| Shares Outstanding | 171,500,000 | 171,400,000 | 146,800,000 | 170,500,000 | 170,400,000 | 170,300,000 | 145,800,000 | 169,500,000 | 169,500,000 | 169,400,000 | 144,900,000 | 168,700,000 | 168,600,000 | 168,600,000 | 144,000,000 | 167,800,000 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $236M | $204M | $200M | $202M | $194M | $183M | $184M | $183M | $159M | $148M | $140M | $125M | $117M | $112M | $120M | $121M | |
| Stock-based Comp | $77M | $84M | $60M | $75M | $75M | $81M | $75M | $73M | $71M | $73M | $55M | $62M | $72M | $76M | $67M | $64M | |
| Deferred Tax | $-28M | $24M | $167M | $254M | $-31M | $-28M | $-58M | $-53M | $-87M | $40M | $72M | $-207M | $-106M | $-64M | $-29M | $-92M | |
| Amort. of Intangibles | $168M | · | $132M | $136M | $127M | · | $111M | $110M | $87M | · | · | · | · | · | · | · | |
| Restructuring | $165M | $8M | $7M | $7M | $-700.0K | $35M | $5M | $7M | $7M | $12M | $99M | $76M | $34M | $10M | $7M | $15M | |
| Other Non-cash | · | $14M | · | · | · | $-218M | · | · | · | $-100M | · | · | · | $-56M | · | · | |
| Operating Cash Flow | $449M | $646M | $512M | $1.27B | $161M | $259M | $761M | $936M | $626M | $553M | $12M | $592M | $487M | $455M | $-175M | $661M | |
| CapEx | $41M | $51M | $44M | $46M | $27M | $37M | $39M | $35M | $34M | $46M | $65M | $74M | $71M | $67M | $86M | $59M | |
| Investing Cash Flow | $-3.84B | $-210M | $-1.23B | $-35M | $-57M | $-47M | $-19M | $-1.18B | $466M | $-66M | $-652M | $-1.74B | $-754M | $-953M | $-141M | $1.67B | |
| Debt Issued | · | · | $0 | $-300.0K | · | · | $0 | $0 | · | · | $0 | · | · | · | $0 | · | |
| Net Debt Issued | · | · | · | · | · | $0 | · | · | · | $-400M | · | · | · | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | $0 | $250M | |
| Financing Cash Flow | $1.30B | $-44M | $-137M | $-130M | $-12M | $-23M | $8M | $-7M | $-245M | $-440M | $-646M | $849M | $-10M | $-43M | $-7M | $-1.25B | |
| Free Cash Flow | · | $594M | · | · | · | $222M | · | · | · | $507M | · | · | · | $389M | · | · | |
| Levered FCF | · | $537M | · | · | · | $176M | · | · | · | $449M | · | · | · | $333M | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 3.6% | 12.9% | · | 18.4% | 24.0% | 9.9% | · | 15.8% | 23.7% | 17.2% | · | -2.7% | 24.1% | 15.8% | · | 45.2% | |
| Pretax Margin | 4.8% | 15.2% | · | 22.0% | 28.1% | 12.8% | · | 18.3% | 28.3% | 20.3% | · | -5.6% | 28.8% | 17.8% | · | 54.7% | |
| EBITDA Margin | · | 8.2% | · | · | · | 7.5% | · | · | · | 6.4% | · | · | · | 4.6% | · | · | |
| ROA | 0.32% | 1.1% | · | 1.6% | 2.3% | 0.88% | · | 1.4% | 2.2% | 1.5% | · | -0.26% | 2.4% | 1.6% | · | 4.7% | |
| ROE | 0.53% | 1.8% | · | 2.7% | 3.8% | 1.5% | · | 2.5% | 3.9% | 2.7% | · | -0.50% | 4.7% | 3.0% | · | 9.8% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 3.1 | · | 2.7 | 2.5 | 1.4 | · | 1.3 | 2.3 | 2.1 | · | 1.7 | 3.3 | 3.2 | · | 2.5 | |
| Quick Ratio | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.5 | · | 0.4 | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | · | · | · | 0.0 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.2 | 0.3 | 0.3 | · | 0.3 | 0.5 | 0.5 | · | 0.3 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.5 | · | 1.5 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $10.39B | $10.09B | · | $10.08B | $10.01B | $9.65B | · | $9.75B | $9.74B | $9.74B | · | $9.96B | $10.02B | $10.09B | · | $10.41B | |
| Net Income TTM | $1.52B | $1.66B | · | $1.73B | $1.85B | $1.61B | · | $1.30B | $1.50B | $1.30B | · | $2.05B | $3.17B | $2.88B | · | $2.83B | |
| Market Cap | $37.05B | $31.42B | · | $23.88B | $21.40B | $23.30B | · | $32.86B | $39.29B | $36.53B | · | $43.36B | $48.03B | $46.88B | · | $44.80B | |
| P/E | 21.0 | 16.2 | · | 11.9 | 9.9 | 12.4 | · | 21.8 | 22.5 | 24.0 | · | 18.2 | 13.1 | 14.0 | · | 13.8 | |
| P/S | 3.6 | 3.1 | · | 2.4 | 2.1 | 2.4 | · | 3.4 | 4.0 | 3.8 | · | 4.4 | 4.8 | 4.6 | · | 4.3 | |
| P/B | 2.0 | 1.7 | · | 1.3 | 1.2 | 1.4 | · | 2.0 | 2.5 | 2.4 | · | 3.0 | 3.3 | 3.4 | · | 3.5 | |
| P / Tangible Book | · | 10.1 | · | 10.0 | 12.8 | 25.4 | · | 486.0 | 27.5 | 52.1 | · | 130.7 | 6.9 | 7.5 | · | 8.9 | |
| P / Cash Flow | · | 48.7 | · | · | · | 89.9 | · | · | · | 66.0 | · | · | · | 103.0 | · | · | |
| P / FCF | · | 52.9 | · | · | · | 104.9 | · | · | · | 72.0 | · | · | · | 120.6 | · | · | |
| Earnings Yield | 4.8% | 6.2% | · | 8.4% | 10.1% | 8.0% | · | 4.6% | 4.4% | 4.2% | · | 5.5% | 7.7% | 7.1% | · | 7.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $9.89B | $9.68B | $9.84B | $10.17B | $10.98B |
| Operating Margin % | — | — | — | — | 25.9% |
| Net Income | $1.29B | $1.63B | $1.16B | $3.05B | $1.56B |
| Diluted EPS | $8.79 | $11.18 | $7.97 | $20.87 | $10.40 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.7 | 1.3 | 2.0 | 3.0 | 1.8 |
| Quick Ratio | 0.4 | 0.3 | 0.5 | 0.5 | 0.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $2.05B | $2.72B | $1.27B | $1.14B | $3.38B |
Latest News Recent headlines mentioning this company
- What Makes Denali Therapeutics (DNLI) One of the Best AI Driven Biotech Names
- Biogen advances Alzheimer's drug to late-stage trial despite disappointing data
- Why Biogen Stock Was a Winner on Wednesday
- Here Are Tuesday’s Top Wall Street Analyst Research Calls: Biogen, Birkenstock, Fastly, Ford, Lennox International, Netskope, SanDisk, Tesla, and More
- Why Biogen Stock Got Mashed on Monday
- Apellis Pharma Skyrockets on Biogen Deal. Is It Too Late to Chase APLS Stock?
- Biogen to acquire Apellis Pharmaceuticals for $5.6B, adding C3 therapies to portfolio
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 1,147 filers · $23.5B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 133 (-29 vs prior Q) | 76 (-23 vs prior Q) | 406 (+25 vs prior Q) | 295 (-2 vs prior Q) | +24.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| PRIMECAP MANAGEMENT CO/CA/ | $3,274,304,389 | 15,154,606 | 13.94% | Shares |
| VANGUARD GROUP INC | $2,812,686,259 | 15,982,080 | 11.97% | Shares |
| FMR LLC | $2,480,996,199 | 11,482,904 | 10.56% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,085,220,339 | 9,651,117 | 8.88% | Shares |
| STATE STREET CORP | $1,586,815,292 | 7,344,327 | 6.75% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,427,062,472 | 6,604,936 | 6.07% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $853,425,885 | 3,965,587 | 3.63% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $651,741,965 | 3,016,486 | 2.77% | Shares |
| NORGES BANK | $557,441,930 | 2,580,033 | 2.37% | Shares |
| Boston Partners | $237,039,714 | 1,097,693 | 1.01% | Shares |
| Alyeska Investment Group, L.P. | $201,448,726 | 932,374 | 0.86% | Shares |
| Pictet Asset Management Holding SA | $184,144,886 | 851,819 | 0.78% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $183,196,029 | 847,893 | 0.78% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $179,182,447 | 829,318 | 0.76% | Shares |
| Robeco Institutional Asset Management B.V. | $170,923,341 | 791,092 | 0.73% | Shares |
| FRED ALGER MANAGEMENT, LLC | $170,321,610 | 788,307 | 0.73% | Shares |
| BANK OF AMERICA CORP /DE/ | $156,665,322 | 725,101 | 0.67% | Shares |
| Employees Provident Fund Board | $152,148,588 | 704,196 | 0.65% | Shares |
| FIRST TRUST ADVISORS LP | $147,357,277 | 682,021 | 0.63% | Shares |
| AustralianSuper Pty Ltd | $145,348,531 | 672,723 | 0.62% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $129,114,863 | 597,588 | 0.55% | Shares |
| BlackRock, Inc. | $124,065,973 | 574,220 | 0.53% | Shares |
| Artemis Investment Management LLP | $123,364,642 | 570,974 | 0.53% | Shares |
| Legal & General Group Plc | $119,267,279 | 552,010 | 0.51% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $116,672,616 | 540,001 | 0.50% | Shares |
| Caisse de depot et placement du Quebec | $110,232,516 | 510,194 | 0.47% | Shares |
| UBS Group AG | $108,289,272 | 501,200 | 0.46% | Call option |
| CITADEL ADVISORS LLC | $90,389,997 | 418,356 | 0.38% | Shares |
| Swiss National Bank | $89,427,234 | 413,900 | 0.38% | Shares |
| National Pension Service | $87,734,188 | 406,064 | 0.37% | Shares |
| LMR Partners LLP | $84,047,340 | 389,000 | 0.36% | Call option |
| BNP PARIBAS FINANCIAL MARKETS | $83,732,325 | 387,542 | 0.36% | Shares |
| Candriam S.C.A. | $82,957,583 | 384,326 | 0.35% | Shares |
| ROYAL BANK OF CANADA | $78,304,000 | 362,418 | 0.33% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $77,527,297 | 358,823 | 0.33% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $74,890,069 | 346,617 | 0.32% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $74,199,109 | 343,419 | 0.32% | Shares |
| Fisher Asset Management, LLC | $73,032,374 | 338,018 | 0.31% | Shares |
| Vanguard Global Advisers, LLC | $72,582,332 | 335,936 | 0.31% | Shares |
| California Public Employees Retirement System | $71,106,642 | 329,106 | 0.30% | Shares |
| Swedbank AB | $69,271,861 | 320,614 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $68,058,900 | 315,000 | 0.29% | Call option |
| GOLDMAN SACHS GROUP INC | $63,917,486 | 295,832 | 0.27% | Shares |
| LMR Partners LLP | $62,268,492 | 288,200 | 0.27% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $61,442,279 | 284,376 | 0.26% | Shares |
| Patient Capital Management, LLC | $61,295,674 | 283,697 | 0.26% | Shares |
| Gotham Asset Management, LLC | $60,475,194 | 279,900 | 0.26% | Shares |
| CAUSEWAY CAPITAL MANAGEMENT LLC | $60,125,780 | 278,283 | 0.26% | Shares |
| PERCEPTIVE ADVISORS LLC | $59,669,938 | 276,173 | 0.25% | Shares |
| Balyasny Asset Management L.P. | $57,275,345 | 265,090 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $56,819,153 | 262,979 | 0.24% | Shares |
| HSBC HOLDINGS PLC | $52,886,951 | 244,779 | 0.23% | Shares |
| AEGON ASSET MANAGEMENT UK Plc | $52,092,282 | 241,101 | 0.22% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $47,304,392 | 218,941 | 0.20% | Shares |
| JANE STREET GROUP, LLC | $47,122,686 | 218,100 | 0.20% | Put option |
| KLP KAPITALFORVALTNING AS | $43,034,183 | 199,177 | 0.18% | Shares |
| JANE STREET GROUP, LLC | $41,289,066 | 191,100 | 0.18% | Call option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $40,458,548 | 220,687 | 0.17% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $40,387,880 | 186,929 | 0.17% | Shares |
| NISSAY ASSET MANAGEMENT CORP /JAPAN | $40,036,134 | 185,301 | 0.17% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $39,509,594 | 182,864 | 0.17% | Shares |
| ALLIANCEBERNSTEIN L.P. | $39,411,367 | 214,975 | 0.17% | Shares |
| BARCLAYS PLC | $38,890,800 | 180,000 | 0.17% | Put option |
| BARCLAYS PLC | $37,038,518 | 171,427 | 0.16% | Shares |
| Quantinno Capital Management LP | $32,836,341 | 151,977 | 0.14% | Shares |
| MORGAN STANLEY | $32,548,902 | 150,647 | 0.14% | Shares |
| LETKO, BROSSEAU & ASSOCIATES INC | $31,666,186 | 146,562 | 0.13% | Shares |
| Portolan Capital Management, LLC | $30,865,467 | 142,856 | 0.13% | Shares |
| Palo Alto Investors LP | $30,308,681 | 140,279 | 0.13% | Shares |
| Walleye Trading LLC | $30,087,003 | 139,253 | 0.13% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $29,872,456 | 138,260 | 0.13% | Shares |
| Nippon Life Global Investors Americas, Inc. | $29,647,753 | 137,220 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $28,995,252 | 134,200 | 0.12% | Put option |
| IEQ CAPITAL, LLC | $28,550,680 | 132,142 | 0.12% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $28,001,160 | 129,599 | 0.12% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $26,210,455 | 121,311 | 0.11% | Shares |
| AMERICAN CENTURY COMPANIES INC | $24,663,681 | 114,152 | 0.10% | Shares |
| Woodline Partners LP | $24,298,756 | 112,463 | 0.10% | Shares |
| AVIVA PLC | $23,345,715 | 108,052 | 0.10% | Shares |
| Eurizon Capital SGR S.p.A. | $22,171,682 | 102,594 | 0.09% | Shares |
| ADAMS DIVERSIFIED EQUITY FUND, INC. | $21,670,818 | 100,300 | 0.09% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $21,637,329 | 100,145 | 0.09% | Shares |
| UBS Group AG | $21,607,945 | 100,009 | 0.09% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $21,606,000 | 100,000 | 0.09% | Call option |
| Balyasny Asset Management L.P. | $21,606,000 | 100,000 | 0.09% | Call option |
| Integral Health Asset Management, LLC | $21,606,000 | 100,000 | 0.09% | Shares |
| Illinois Municipal Retirement Fund | $21,455,406 | 99,303 | 0.09% | Shares |
| Susquehanna Portfolio Strategies, LLC | $21,346,944 | 98,801 | 0.09% | Shares |
| APG Asset Management N.V. | $20,973,675 | 110,984 | 0.09% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $20,877,014 | 96,626 | 0.09% | Shares |
| LPL Financial LLC | $20,626,314 | 95,466 | 0.09% | Shares |
| Rhenman & Partners Asset Management AB | $20,493,291 | 94,850 | 0.09% | Shares |
| PEAK6 LLC | $20,374,458 | 94,300 | 0.09% | Call option |
| STRS OHIO | $20,265,132 | 93,794 | 0.09% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $19,614,791 | 90,784 | 0.08% | Shares |
| Hudson Bay Capital Management LP | $19,445,400 | 90,000 | 0.08% | Shares |
| VAN ECK ASSOCIATES CORP | $19,191,313 | 88,824 | 0.08% | Shares |
| Point72 Asset Management, L.P. | $19,045,473 | 88,149 | 0.08% | Shares |
| ANTIPODES PARTNERS Ltd | $18,759,842 | 86,827 | 0.08% | Shares |
| MACKENZIE FINANCIAL CORP | $18,666,288 | 86,394 | 0.08% | Shares |
Company insiders 83 insiders · 51 officers · 28 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher Viehbacher | President and CEO | Feb. 13, 2026 A | 29,924 | 0 | 0 | $0 |
| Michel Vounatsos | Chief Executive Officer | Feb. 18, 2022 J | 67,261 | 0 | 0 | $0 |
| George A Scangos | Chief Executive Officer | July 21, 2016 S | 54,779 | 0 | 0 | $0 |
| MULLEN JAMES C | CEO & President | June 8, 2010 A | 95,503 | 0 | 0 | $0 |
| Robin Kramer | Chief Financial Officer | Feb. 13, 2026 A | 11,472 | 0 | 0 | $0 |
| Michael R. Mcdonnell | EVP, Chief Financial Officer | Feb. 10, 2025 M | 24,341 | 0 | 0 | $0 |
| Jeffrey D Capello | EVP & Chief Financial Officer | Feb. 12, 2020 J | 3,118 | 0 | 0 | $0 |
| Paul J Clancy | Executive VP and CFO | April 25, 2017 S | 10,813 | 0 | 0 | $0 |
| KELLOGG PETER N | EVP, Finance and CFO | March 20, 2007 S | 18,966 | 0 | 0 | $0 |
| Robert A Hamm | Chief Operating Officer | April 23, 2010 S | 27,212 | 0 | 0 | $0 |
| HASLER HANS PETER | Chief Operating Officer | Feb. 24, 2009 A | 53,261 | 0 | 0 | $0 |
| William R Rohn | Chief Operating Officer | Nov. 17, 2004 M | 65,462 | 0 | 0 | $0 |
| Adam Keeney | Head of Corporate Development | May 1, 2026 M | 6,365 | 0 | 0 | $0 |
| Sean Godbout | Chief Accounting Officer | April 1, 2026 M | 1,342 | 0 | 0 | $0 |
| Jane Grogan | Head of Research | Feb. 13, 2026 A | 4,058 | 0 | 0 | $0 |
| Nicole Murphy | Head of Pharm Ops and Tech | Feb. 13, 2026 A | 19,611 | 1 | 0 | $585 |
| Rachid Izzar | Head of Global Product Strat. | Feb. 13, 2026 A | 11,011 | 0 | 0 | $0 |
| Singhal Priya | Head of Development | Feb. 13, 2026 A | 8,043 | 0 | 3 | $-734,709 |
| Ginger Gregory | EVP, Human Resources | Feb. 13, 2026 A | 22,359 | 0 | 0 | $0 |
| Susan H Alexander | EVP Chief Legal Officer | Feb. 13, 2026 A | 41,807 | 0 | 0 | $0 |
| Chirfi Guindo | Head of Glob Prod Strat & Com | Feb. 18, 2022 J | 7,364 | 0 | 0 | $0 |
| Alphonse Galdes | EVP Pharmaceutical Oper & Tech | Jan. 19, 2022 A | 5,064 | 0 | 0 | $0 |
| Alfred Sandrock | Head of Research & Development | June 7, 2021 S | 10,169 | 0 | 0 | $0 |
| Daniel Karp | EVP, Corporate Development | Feb. 12, 2020 A | 930 | 0 | 0 | $0 |
| Michael D Ehlers | EVP, Research and Development | June 1, 2019 J | 8,025 | 0 | 0 | $0 |
| Paul Mckenzie | EVP Pharmaceutical Oper & Tech | March 1, 2019 J | 7,235 | 0 | 0 | $0 |
| Gregory F Covino | VP, Chief Accounting Officer | March 1, 2018 A | 4,744 | 0 | 0 | $0 |
| Jean-Paul Kress | EVP Pres Int'l & Global Hd GTO | July 3, 2017 A | — | 0 | 0 | $0 |
| Adriana Karaboutis | EVP, Tech, Bus. Sol & Corp Aff | Feb. 28, 2017 M | 8,752 | 0 | 0 | $0 |
| Kenneth Dipietro | EVP Human Resources | Feb. 28, 2017 J | 7,177 | 0 | 0 | $0 |
| Adam Koppel | EVP, Strategy and Bus. Dev. | June 6, 2016 S | 2,402 | 0 | 0 | $0 |
| Spyridon Artavanis-Tsakonas | EVP, Chief Scientific Officer | April 2, 2016 M | 3,150 | 0 | 0 | $0 |
| John Cox | EVP Pharmaceutical Oper & Tech | April 1, 2016 A | 39,045 | 0 | 0 | $0 |
| Steven H Holtzman | EVP Corporate Development | Feb. 23, 2016 J | 8,326 | 0 | 0 | $0 |
| Douglas E Williams | EVP Research & Development | June 19, 2015 S | 11,817 | 0 | 0 | $0 |
| Stuart A Kingsley | EVP, Global Comm. Operations | Feb. 23, 2015 A | 8,132 | 0 | 0 | $0 |
| Raymond Pawlicki | SVP, Chief Information Officer | Nov. 22, 2013 M | 8,710 | 0 | 0 | $0 |
| Robert E. Gagnon | Vice President, Finance | Feb. 29, 2012 S | 3,999 | 0 | 0 | $0 |
| Francesco Granata | EVP Global Commercial Operatio | Feb. 1, 2012 M | 3,529 | 0 | 0 | $0 |
| SCHNEIER CRAIG ERIC | EVP, HR, Public Affairs & Comm | March 1, 2011 M | 10,201 | 0 | 0 | $0 |
| Michael F Maclean | SVP, Chief Accounting Officer | Oct. 1, 2010 F | 10,681 | 0 | 0 | $0 |
| Michael Lytton | EVP Corporate & Business Devel | March 2, 2010 F | 18,869 | 0 | 0 | $0 |
| Mark C Wiggins | EVP Corp. and Bus. Dev. | Sept. 26, 2008 S | 22,780 | 0 | 0 | $0 |
| Faheem Hasnain | EVP, Oncology/Rheumatology SBU | July 9, 2008 M | 25,454 | 0 | 0 | $0 |
| ADELMAN BURT A | EVP, Portfolio Strategy | Oct. 15, 2007 M | 12,769 | 0 | 0 | $0 |
| Michael Kowolenko | SVP, Pharm Ops & Technology | July 25, 2007 M | 18,124 | 0 | 0 | $0 |
| Connie Matsui | EVP, Corp. Strategy and Comm. | Feb. 12, 2007 A | 22,837 | 0 | 0 | $0 |
| William H Rastetter | Executive Chairman | Feb. 23, 2005 J | 373,929 | 0 | 0 | $0 |
| Michael Gilman | EVP - Research | Feb. 17, 2005 A | 23,000 | 0 | 0 | $0 |
| BUCKNUM THOMAS J | EVP and General Counsel | Feb. 17, 2005 A | 5,750 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 7 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Biogen Inc. ×8 filings | May 14, 2026 | 0.00% | Amendment | M&A / sale | SEC |
| High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP, Icahn Partners Master Fund III LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc., Beckton Corp., Carl C. Icahn ×4 filings | June 22, 2011 | — | Initial filing | — | SEC |
| March 22, 2010 | — | Initial filing | — | SEC | |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 28, 2010 | — | Initial filing | — | SEC |
| AND | May 8, 2008 | — | Initial filing | — | SEC |
| Biogen Idec Inc., Biogen Idec MA Inc. ×3 filings | Nov. 9, 2006 | — | Initial filing | M&A / sale | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Feb. 14, 2001 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 199 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PBE · Invesco Exchange-Traded Fund Trust | 4.72% | 82,332 SH | Aug. 8, 2026 | Daily |
| IBRN · iShares Trust | 4.02% | 1,505 SH | Aug. 8, 2026 | Daily |
| PJP · Invesco Exchange-Traded Fund Trust | 2.74% | 66,627 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 2.33% | 1,074,761 SH | Aug. 8, 2026 | Daily |
| FXH · First Trust Exchange-Traded AlphaDE… | 2.23% | 103,216 NS | April 30, 2026 | N-PORT |
| SPIT · RBB Fund, Inc. | 2.11% | 3,185 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 2.09% | 8,035 SH | Aug. 8, 2026 | Daily |
| BBP · ETFis Series Trust I | 1.73% | 5,434 NS | April 30, 2026 | N-PORT |
| RSPH · Invesco Exchange-Traded Fund Trust | 1.62% | 61,078 SH | Aug. 8, 2026 | Daily |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 1.48% | 84,204 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 1.44% | 5,425 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 1.39% | 2,280 NS | May 31, 2026 | N-PORT |
| CVAR · ETF Opportunities Trust | 1.34% | 2,744 NS | April 30, 2026 | N-PORT |
| JDOC · J.P. Morgan Exchange-Traded Fund Tr… | 1.30% | 764 NS | April 30, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 1.01% | 23,096 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.93% | 25,484 NS | April 30, 2026 | N-PORT |
| SPVM · Invesco Exchange-Traded Fund Trust | 0.88% | 5,573 SH | Aug. 8, 2026 | Daily |
| ABCS · EA Series Trust | 0.75% | 431 NS | May 29, 2026 | N-PORT |
| FBCV · FIDELITY COVINGTON TRUST | 0.74% | 6,263 NS | April 30, 2026 | N-PORT |
| FLRG · FIDELITY COVINGTON TRUST | 0.73% | 10,857 NS | April 30, 2026 | N-PORT |
| FTA · First Trust Exchange-Traded AlphaDE… | 0.72% | 49,392 NS | April 30, 2026 | N-PORT |
| AVMV · AMERICAN CENTURY ETF TRUST | 0.70% | 22,249 NS | May 31, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.69% | 558 NS | April 30, 2026 | N-PORT |
| COWZ · Pacer Funds Trust | 0.67% | 642,650 NS | April 30, 2026 | N-PORT |
| QQWZ · Pacer Funds Trust | 0.66% | 1,636 NS | April 30, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.59% | 2,701 NS | May 29, 2026 | N-PORT |
| LSVD · ADVISORS' INNER CIRCLE FUND | 0.58% | 18,519 NS | April 30, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 0.55% | 948,376 SH | Aug. 8, 2026 | Daily |
| IYH · iShares Trust | 0.50% | 88,325 SH | Aug. 8, 2026 | Daily |
| RCGE · EA Series Trust | 0.48% | 2,389 NS | April 30, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.47% | 441,144 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.45% | 67,622 NS | April 30, 2026 | N-PORT |
| RPV · Invesco Exchange-Traded Fund Trust | 0.43% | 35,530 SH | Aug. 8, 2026 | Daily |
| IMCV · iShares Trust | 0.42% | 23,383 SH | Aug. 8, 2026 | Daily |
| RXL · ProShares Trust | 0.42% | 1,530 NS | May 31, 2026 | N-PORT |
| CURE · Direxion Shares ETF Trust | 0.40% | 2,927 NS | April 30, 2026 | N-PORT |
| IXJ · iShares Trust | 0.38% | 77,453 SH | Aug. 8, 2026 | Daily |
| BSCU · Invesco Exchange-Traded Self-Indexe… | 0.37% | 10,761,000 | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.36% | 2,605 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.35% | 7,256 NS | May 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.34% | 26,804 NS | April 30, 2026 | N-PORT |
| VLUE · iShares Trust | 0.33% | 149,494 SH | Aug. 8, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.31% | 3,199,564 SH | Aug. 8, 2026 | Daily |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.29% | 6,727 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.29% | 222,364 SH | Aug. 8, 2026 | Daily |
| GINN · Goldman Sachs ETF Trust | 0.27% | 2,960 NS | May 31, 2026 | N-PORT |
| FLCV · Federated Hermes ETF Trust | 0.27% | 1,332 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | 0.26% | 8,169 NS | May 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.26% | 8,407 SH | Aug. 8, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.26% | 136 NS | May 31, 2026 | N-PORT |