Biogen Inc (BIIB)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	-1,178,000	-1,366,500	-84,100	-500,900	178,800	1,404,900	1,810,500	2,477,500	2,840,700	1,923,000	2,215,400	3,704,200	4,550,200	6,658,500	7,378,400	7,359,800	7,042,600	6,708,000	6,599,300	5,856,600
Total assets	US$ in thousands	26,844,800	28,193,200	25,156,800	24,598,400	24,554,100	24,854,200	25,081,400	23,614,400	23,877,300	23,806,700	24,470,400	23,854,700	24,618,900	24,934,100	25,511,800	26,119,200	27,234,300	27,484,000	26,287,600	26,445,500
Operating ROA		-4.39%	-4.85%	-0.33%	-2.04%	0.73%	5.65%	7.22%	10.49%	11.90%	8.08%	9.05%	15.53%	18.48%	26.70%	28.92%	28.18%	25.86%	24.41%	25.10%	22.15%

December 31, 2023 calculation

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

Biogen Inc's operating return on assets (operating ROA) has displayed variability over the past eight quarters. The trend shows a gradual decline in operating ROA from Q1 2022 at 10.13% to Q4 2023 at 6.82%. Despite fluctuations, Biogen's operating ROA has generally remained above 6%, indicating the company's ability to generate operating income relative to its total assets. The recent decrease in operating ROA may raise concerns about the company's operational efficiency and asset utilization. Further analysis of the underlying factors contributing to this trend is advisable to evaluate the sustainability of Biogen's operating performance.