Biogen Inc (BIIB)

Debt-to-equity 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-equity ratio		0.46	0.49	0.69	0.70	0.45

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $6,788,200K ÷ $14,799,400K
= 0.46

The debt-to-equity ratio for Biogen Inc has exhibited variations over the past five years. As of December 31, 2023, the ratio stands at 0.47, which indicates that the company's level of debt relative to its equity is relatively stable compared to the previous year. In 2021 and 2020, there was a higher proportion of debt in the company's capital structure with ratios of 0.67 and 0.69, respectively. This implies that Biogen relied more on debt financing during those periods. On the other hand, in 2019, the company had a lower debt-to-equity ratio of 0.45, suggesting a greater reliance on equity for funding its operations.

Overall, the trend in Biogen's debt-to-equity ratio reflects fluctuations in the company's capital structure and its financing decisions over the past five years. It is essential to closely monitor changes in this ratio to assess the company's financial leverage and risk management strategies.