Biogen Inc (BIIB)

Debt-to-capital ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	6,788,200	6,567,300	7,567,300	7,500,000	6,000,000
Total stockholders’ equity	US$ in thousands	14,799,400	13,397,900	10,896,200	10,700,300	13,343,200
Debt-to-capital ratio		0.31	0.33	0.41	0.41	0.31

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $6,788,200K ÷ ($6,788,200K + $14,799,400K)
= 0.31

The debt-to-capital ratio of Biogen Inc has shown some fluctuation over the past five years. It was 0.32 at the end of 2023, the same as the previous year, indicating that the company's debt level relative to its total capital remained stable. In 2021 and 2020, the ratio increased to 0.40 and 0.41, respectively, suggesting that the company relied more on debt to finance its operations during those years. However, in 2019, the ratio dropped to 0.31, indicating a lower proportion of debt in the company's capital structure.

Overall, Biogen Inc's debt-to-capital ratio has ranged from 0.31 to 0.41 over the past five years, with some variability in the degree of leverage employed by the company. This ratio provides insights into the company's capital structure and its ability to manage debt obligations relative to its total capital. Investors and analysts may monitor changes in this ratio over time to assess the company's financial health and risk profile.