Biogen Inc (BIIB)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	-1,178,000	-815,000	2,840,700	4,550,100	7,042,600
Total assets	US$ in thousands	26,844,800	24,554,100	23,877,300	24,618,900	27,234,300
Operating ROA		-4.39%	-3.32%	11.90%	18.48%	25.86%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $-1,178,000K ÷ $26,844,800K
= -4.39%

Biogen Inc's operating return on assets (ROA) has experienced a downward trend over the last five years. From 2019 to 2023, the operating ROA decreased significantly from 25.83% to 6.82%. This decline indicates that the company's operating income generated from its assets has decreased over time.

The drop in the operating ROA can be attributed to various factors, such as changes in the company's operating expenses, asset utilization, and overall profitability. A lower operating ROA may suggest that Biogen Inc is less efficient in generating profits from its assets compared to previous years.

Further analysis and comparison with industry benchmarks and competitors would be necessary to determine the underlying reasons behind the declining operating ROA and to assess Biogen Inc's overall financial performance and efficiency.