Biogen Inc (BIIB)

Debt-to-capital ratio

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Long-term debt	US$ in thousands	4,547,200	6,788,200	6,567,300	7,567,300	7,500,000
Total stockholders’ equity	US$ in thousands	16,716,000	14,799,400	13,397,900	10,896,200	10,700,300
Debt-to-capital ratio		0.21	0.31	0.33	0.41	0.41

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $4,547,200K ÷ ($4,547,200K + $16,716,000K)
= 0.21

Biogen Inc's debt-to-capital ratio has displayed a downward trend over the years, declining from 0.41 as of December 31, 2020, to 0.21 as of December 31, 2024. This indicates that the company has been reducing its reliance on debt financing relative to its total capital structure. The declining ratio suggests a stronger financial position with lower debt levels in relation to total capital, which can be viewed positively by investors and creditors. It may imply improved financial stability and lower financial risk for the company. However, it's important to assess the specific reasons behind this trend and monitor future changes to understand the overall impact on Biogen's financial health and sustainability.