Summary
Full summaryThe Print
Revenue increased 2.2% to $9.89B, but net income fell 20.8% to $1.29B, with diluted EPS declining to $8.79 from $11.18.
Revenue modestly increased, but profitability declined significantly due to higher operating expenses or one-time items.
- Revenue grew 2.2% YoY to $9.89B, driven by product sales.
- Net income declined 20.8% to $1.29B, with diluted EPS falling to $8.79.
- Operating cash flow decreased to $2.20B from $2.88B, while free cash flow was $2.05B.
Results That Matter
| Metric | Current Period | Prior Period | Change | Investor Takeaway |
|---|---|---|---|---|
Revenue | $9.9B | $9.7B | +2.2% | Not disclosed—management did not provide a specific driver in the excerpt. |
Operating income | Not disclosed | $1.6B | — | Not disclosed—operating income not provided in XBRL data or excerpts.
Prior period from XBRL |
Operating margin | Not disclosed | 16.9% | — | Not disclosed—operating income not provided to calculate margin.
Prior period from XBRL |
Diluted EPS | $8.8 | $11.2 | −21.4% | Not disclosed—management did not provide a specific driver in the excerpt. |
Earnings Quality & Cash Conversion
Not disclosed—insufficient data to separate operating results from one-time items.
Operating cash flow was 1.7x net income (cash conversion); free cash flow of $2.1B.
Value Drivers & Capital Allocation
Capital expenditures were $153.8M, essentially flat YoY. Free cash flow was $2.05B, down from $2.72B. No details on buybacks, dividends, or M&A in the excerpt.
Return on equity was 7.1%, down from 9.8%. Return on assets was 4.4%, down from 5.8%.
- Free cash flow of $2.05B, down 24.7% YoY.
Forward Signals
cautiousNot disclosed—no guidance provided in the excerpt.
Known trends
- Not disclosed—no known trends identified in the excerpt.
Subsequent events
- Not disclosed—no subsequent events mentioned in the excerpt.
“Because some of these risks and uncertainties cannot be predicted or quantified and some are beyond our control, you should not rely on our forward-looking statements as predictions of future events and you should not place undue reliance on these statements.”
— Management
Risks
No risk factors found
The AI couldn't extract this section from the filing. The company probably didn't report it in a standard format.
Balance Sheet & Liquidity
Leverage: Long-term debt of $6.29B against cash of $3.01B and equity of $18.26B. Net debt position of $3.28B.
Liquidity: Cash and equivalents of $3.01B. No information on available credit facilities.
Cash flow: Cash flow — operating $2.2B, investing $-1.4B, financing $-301.9M.
Working capital: Current assets $9.0B vs. current liabilities $3.3B (current ratio 2.68x). A year earlier: $7.5B vs. $5.5B (1.35x).
Maturities & covenants
- Not disclosed—no debt maturity or covenant details in the excerpt.
Notable Footnotes
| Item | Impact |
|---|---|
| Not disclosed—no footnote details provided in the excerpt. | Not disclosed |
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AI-generated. Informational only, not investment advice. May be incomplete or contain errors. The authoritative source is always the original SEC filing.