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Biogen vs Gilead Sciences: revenue, profit, margins and growth compared

Biogen brought in $9.9B of revenue in fiscal 2025, Gilead Sciences $29.4B in fiscal 2025. Revenue changed by +2.2% at Biogen and +2.4% at Gilead Sciences on the year before, so Gilead Sciences grew faster. Biogen kept 13.1% of its revenue as net profit, Gilead Sciences 28.9%. Free cash flow was $2.1B at Biogen and $9.5B at Gilead Sciences.

Side by side, latest fiscal year

BIIBGILD
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$9.9B$29.4B
Revenue growth+2.2%+2.4%
Net income$1.3B$8.5B
Net margin13.1%28.9%
Free cash flow$2.1B$9.5B
Free cash flow margin20.7%32.1%
Earnings per share (diluted)$8.79$6.78
Cash$3B$7.6B
Debt$6.3B$24.9B
Price to earnings25.922.3
Market value$33.6B$187.1B
Dividend yieldn/a2.09%
Rank by revenue in sector#47 of 523 · Health care#22 of 523 · Health care

Over the years

Revenue
BIIB FY2018: $13.5BBIIB FY2019: $14.4BBIIB FY2020: $13.4BBIIB FY2021: $11BBIIB FY2022: $10.2BBIIB FY2023: $9.8BBIIB FY2024: $9.7BBIIB FY2025: $9.9BGILD FY2018: $22.1BGILD FY2019: $22.4BGILD FY2020: $24.7BGILD FY2021: $27.3BGILD FY2022: $27.3BGILD FY2023: $27.1BGILD FY2024: $28.8BGILD FY2025: $29.4BFY18FY19FY20FY21FY22FY23FY24FY25
BIIB $9.9BGILD $29.4B
Net income
BIIB FY2018: $4.4BBIIB FY2019: $5.9BBIIB FY2020: $4BBIIB FY2021: $1.6BBIIB FY2022: $3BBIIB FY2023: $1.2BBIIB FY2024: $1.6BBIIB FY2025: $1.3BGILD FY2018: $5.5BGILD FY2019: $5.4BGILD FY2020: $123MGILD FY2021: $6.2BGILD FY2022: $4.6BGILD FY2023: $5.7BGILD FY2024: $480MGILD FY2025: $8.5BFY18FY19FY20FY21FY22FY23FY24FY25
BIIB $1.3BGILD $8.5B
Net margin
BIIB FY2018: 32.9%BIIB FY2019: 41.0%BIIB FY2020: 29.8%BIIB FY2021: 14.2%BIIB FY2022: 29.9%BIIB FY2023: 11.8%BIIB FY2024: 16.9%BIIB FY2025: 13.1%GILD FY2018: 24.7%GILD FY2019: 24.0%GILD FY2020: 0.5%GILD FY2021: 22.8%GILD FY2022: 16.8%GILD FY2023: 20.9%GILD FY2024: 1.7%GILD FY2025: 28.9%FY18FY19FY20FY21FY22FY23FY24FY25
BIIB 13.1%GILD 28.9%
Revenue growth
BIIB FY2019: +6.9%BIIB FY2020: -6.5%BIIB FY2021: -18.3%BIIB FY2022: -7.4%BIIB FY2023: -3.3%BIIB FY2024: -1.6%BIIB FY2025: +2.2%GILD FY2019: +1.5%GILD FY2020: +10.0%GILD FY2021: +10.6%GILD FY2022: -0.1%GILD FY2023: -0.6%GILD FY2024: +6.0%GILD FY2025: +2.4%FY19FY20FY21FY22FY23FY24FY25
BIIB +2.2%GILD +2.4%
Free cash flow
BIIB FY2018: $5.4BBIIB FY2019: $6.6BBIIB FY2020: $3.8BBIIB FY2021: $3.4BBIIB FY2022: $1.1BBIIB FY2023: $1.3BBIIB FY2024: $2.7BBIIB FY2025: $2.1BGILD FY2018: $7.5BGILD FY2019: $8.3BGILD FY2020: $7.5BGILD FY2021: $10.8BGILD FY2022: $8.3BGILD FY2023: $7.4BGILD FY2024: $10.3BGILD FY2025: $9.5BFY18FY19FY20FY21FY22FY23FY24FY25
BIIB $2.1BGILD $9.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Biogen and Gilead Sciences

Which is bigger by revenue, Biogen or Gilead Sciences?

Gilead Sciences is bigger by revenue: $29.4B in fiscal 2025, against $9.9B for Biogen in fiscal 2025.

Which keeps more of its revenue as profit, Biogen or Gilead Sciences?

Biogen had a net margin of 13.1% in fiscal 2025; Gilead Sciences had 28.9% in fiscal 2025.

Which grew revenue faster, Biogen or Gilead Sciences?

In their latest fiscal years revenue changed by +2.2% at Biogen and +2.4% at Gilead Sciences.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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