Stock fact sheet · data as of
Biogen Inc. (BIIB): fair value, margin of safety and Wheel Score
Healthcare · Drug Manufacturers - General · United States · Blend
Is BIIB undervalued?
BIIB closed at 235.35 on 16 Oct 2026, which is 19% above the GLS average fair value of 197.03 from 8 models. 5 of them value the shares below today's price. Our screens read that as "no margin of safety": the stock is not a value candidate at this price, whatever the quality numbers say.
The 8 models disagree widely: GLS Growth gives 9.94 while DCF gives 467.24. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files BIIB under Blend.
Nine valuation models for BIIB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 467.24 | +99% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 127.41 | -46% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 193.85 | -18% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 75.10 | -68% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 9.94 | -96% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 384.20 | +63% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 255.67 | +9% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 62.82 | -73% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -14.95 | -106% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 245.88 | +4% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: BIIB passes 4 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 3.6 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are moderate - ROIC 5.1%, ROE 7.1%, ROA 4.4% - with debt at 0.38 times equity and a free-cash-flow yield of 8.5%.
Biogen Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from MS Product Revenues 41%, TYSABRI product 19%, Spinraza 17% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded Congressional buy was on 4 Sep 2026.
| Piotroski F-score | 4 / 9 | ROIC | 5.1% |
|---|---|---|---|
| GLS Moat | 3.6 / 10 | ROE | 7.1% |
| Debt / equity | 0.38 | ROA | 4.4% |
| Free-cash-flow yield | 8.5% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 58: Fair
BIIB scores 58 out of 100 on the Wheel Score (Fair band, 50-64): a usable but unremarkable fit for the wheel strategy. The parts: Value 4/25, Health 9/20, Moat 5/15, Premium 20/20, Stability 19/20. Value (4/25) is where the points are missing.
Implied volatility is 43% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 40,614 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.6M shares a day on a market cap of $34.8B, with a beta of 0.17 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 19 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 4 / 25 | -19% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 5 / 15 | moat 3.6/10 | |
| Premium | 20 / 20 | implied volatility 43% | |
| Stability | 19 / 20 | 1.6M shares/day, $34.8B cap, beta 0.17 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
Biogen Inc. reports earnings on 28 Oct 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Drug Manufacturers - General
The 12 companies below are the closest to Biogen Inc. by market cap within the Drug Manufacturers - General industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| SNY Sanofi | 39.77 | 63.49 | +37% | 86Prime | $97.4B |
| GSK GSK plc | 49.02 | 43.72 | -12% | 70Good | $98.2B |
| BMY Bristol-Myers Squibb Company | 60.57 | 76.74 | +21% | 86Prime | $123.7B |
| PFE Pfizer Inc. | 29.21 | 19.78 | -48% | 58Fair | $166.5B |
| NVO Novo Nordisk A/S | 39.22 | 173.67 | +77% | 91Prime | $174.9B |
| GRFS Grifols, S.A. | 7.54 | 19.23 | +61% | 83Prime | $6.4B |
| GILD Gilead Sciences, Inc. | 157.37 | 138.25 | -14% | 45Weak | $195.1B |
| AMGN Amgen Inc. | 434.03 | 330.55 | -31% | 65Good | $234.7B |
| AZN AstraZeneca PLC | 166.68 | 184.44 | +10% | 85Prime | $258.5B |
| NVS Novartis AG | 150.38 | 144.89 | -4% | 68Good | $285.8B |
| OGN Organon & Co. | 13.76 | 18.60 | +26% | 66Good | $3.6B |
| MRK Merck & Co., Inc. | 145.35 | 69.51 | -109% | 59Fair | $358.6B |
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Start free See the Sunday ScanQuestions about BIIB
Is BIIB undervalued right now?
No: at 235.35 the stock trades 19% above the GLS average fair value of 197.03 (data as of 16 Oct 2026). The margin of safety is negative.
What is the Wheel Score of BIIB and what does it mean?
BIIB scores 58 out of 100 (Fair). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for BIIB?
197.03 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Biogen Inc. report earnings next?
The next earnings report is due on 28 Oct 2026 (before the open), 12 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does BIIB have listed options, and how liquid are they?
Yes. The nightly snapshot found 1,000 listed contracts with 40,614 open interest across all expiries and implied volatility of 43% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.