BIIB
Biogen Inc.
BIIB's outlook is improving despite an expensive valuation.
OSCR
Oscar Health, Inc.
OSCR has the edge over BIIB overall, supported by stronger modeled upside and stronger valuation.
BIIB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Healthy | |
| Weak |
BIIB's cash flow is currently healthy, and its revenue and profitability are stable, but its balance sheet is weak.
OSCR Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
OSCR's revenue, profitability, cash flow and balance sheet are all currently healthy.
BIIB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $24.84 | -90% |
| Fair | 15x | $34.21 | -86% |
| Forward | 17x | $250 | — |
| Expensive | 25x | $57.60 | -77% |
| Current | 108x | $250 | — |
Historical ranges are pointers, not guarantees.
BIIB's PE is in its expensive range at 108x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its fair range.
OSCR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $31.94 | — |
| Current | 13x | $31.94 | — |
| Cheap | 21x | $52.73 | +65% |
| Fair | 35x | $87.23 | +173% |
| Expensive | 130x | $322 | +907% |
Historical ranges are pointers, not guarantees.
OSCR has the edge over BIIB in the historical PE scenario, which offers more potential upside but is not a forecast.
BIIB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for BIIB, with profitability improving. However, they disagree widely on these estimates.
OSCR Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for OSCR, with profitability improving.
BIIB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.72 | +535% |
| Q3 2026 | $2.32 | -79% |
| Q2 2026 | $5.63 | -46% |
| Q1 2026 | $9.30 | -8.1% |
| Q4 2025 | $8.79 | -21% |
| Q3 2025 | $10.96 | -0.9% |
| Q2 2025 | $10.45 | +32% |
| Q1 2025 | $10.12 | +26% |
| Q4 2024 | $11.18 | +40% |
BIIB's earnings per share have fallen from their peak: $2.32 over the past year, against $34.14 in mid-2020.
OSCR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.61 | +5.6% |
| Q3 2026 | $2.47 | +$3.47 |
| Q2 2026 | $1.45 | +$2.14 |
| Q1 2026 | -$0.54 | -235% |
| Q4 2025 | -$1.69 | -1790% |
| Q3 2025 | -$1.00 | -$0.92 |
| Q2 2025 | -$0.69 | -$0.54 |
| Q1 2025 | $0.40 | +$0.82 |
| Q4 2024 | $0.10 | +$1.32 |
OSCR has the edge over BIIB on earnings, with more consistent year-over-year improvement.
BIIB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.8B | +11% |
| Q2 2026 | $2.7B | +3.4% |
| Q1 2026 | $2.5B | +1.9% |
| Q4 2025 | $2.3B | -7.1% |
| Q3 2025 | $2.5B | +2.8% |
| Q2 2025 | $2.6B | +7.3% |
| Q1 2025 | $2.4B | +6.1% |
| Q4 2024 | $2.5B | +2.9% |
BIIB's revenue is recovering but still below its 2020 peak: $2.8B last quarter, up 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.3% | -22 points |
| Q2 2026 | 4.8% | -23 points |
| Q1 2026 | 15% | +2.4 points |
| Q4 2025 | -2.5% | -14 points |
| Q3 2025 | 22% | +3.7 points |
| Q2 2025 | 28% | -0.2 points |
| Q1 2025 | 13% | -7.5 points |
| Q4 2024 | 12% | -0.3 points |
BIIB's operating margin was −0.3% last quarter, down 22 points from the same quarter a year ago.
OSCR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.1B | +72% |
| Q2 2026 | $4.9B | +70% |
| Q1 2026 | $4.6B | +53% |
| Q4 2025 | $2.8B | +17% |
| Q3 2025 | $3B | +23% |
| Q2 2025 | $2.9B | +29% |
| Q1 2025 | $3B | +42% |
| Q4 2024 | $2.4B | +67% |
OSCR has the edge over BIIB on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.5% | +7.8 points |
| Q2 2026 | 8% | +16 points |
| Q1 2026 | 15% | +5.4 points |
| Q4 2025 | -12% | -5.7 points |
| Q3 2025 | -4.3% | -2.3 points |
| Q2 2025 | -8.1% | -11 points |
| Q1 2025 | 9.8% | +1.1 points |
| Q4 2024 | -6.2% | +4 points |
OSCR has the edge over BIIB on profitability, with a higher operating margin.
BIIB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $600.4M | -51% |
| Q2 2026 | $408M | +204% |
| Q1 2026 | $594.3M | +167% |
| Q4 2025 | $468M | -35% |
| Q3 2025 | $1.2B | +36% |
| Q2 2025 | $134.3M | -77% |
| Q1 2025 | $222.2M | -56% |
| Q4 2024 | $721.6M | +$774.3M |
BIIB still generates free cash flow, though less than at its 2019 peak: $2.1B over the past year.
OSCR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2B | -$238.2M |
| Q2 2026 | $2.1B | +316% |
| Q1 2026 | $2.6B | +200% |
| Q4 2025 | $662.8M | +95% |
| Q3 2025 | -$973.7M | -$466M |
| Q2 2025 | $499.8M | +2.1% |
| Q1 2025 | $869.5M | +38% |
| Q4 2024 | $340M | +17% |
OSCR has the edge over BIIB on cash flow, with more consistent year-over-year improvement.
BIIB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -900K shares |
| 1 year | +0.5% | +700K shares |
| 3 years | +2.1% | +3M shares |
| 5 years | -0.5% | -800K shares |
| Available history | -17% | -30.4M shares |
BIIB has the edge over OSCR on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | $250M |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | $750M |
| Q2 2021 | $450M |
OSCR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.9% | +13M shares |
| 1 year | +34% | +87.2M shares |
| 3 years | +55% | +123M shares |
| 5 years | +66% | +138M shares |
| Available history | +71% | +143M shares |
OSCR has 346M diluted shares, up 34% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
BIIB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 3.2x | Elevated |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.4x | Healthy |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.5x | Healthy |
BIIB's net debt is about 4.5 years of its operating earnings (EBITDA), up from less than a year a year ago.
OSCR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -4.2x | Net Cash |
| Q2 2026 | -5.5x | Net Cash |
| Q1 2026 | -110.0x | Net Cash |
| Q1 2025 | -9.7x | Net Cash |
| Q4 2024 | -13.7x | Net Cash |
| Q3 2024 | -10.1x | Net Cash |
| Q2 2024 | -24.0x | Net Cash |
| Q1 2024 | -217.7x | Net Cash |
OSCR has the edge over BIIB on leverage, with a lower net debt burden relative to earnings.
BIIB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.0 | Overbought |
| Stochastic | 85.4 | Overbought |
BIIB's weekly RSI is 71 (overbought) and its Stochastic is 85 (overbought).
OSCR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 44.9 | Neutral |
OSCR's weekly RSI is 59 (neutral) and its Stochastic is 45 (neutral).
BIIB PE vs Healthcare Sector
| Metric | BIIB | Sector median | Relative |
|---|---|---|---|
| PE | 108x | 26x | 318% above |
| PE % | 100 | 29 | 71 pts above |
BIIB is trading at 108x earnings, a 318% premium to the Healthcare sector's median of 26x.
OSCR PE vs Healthcare Sector
| Metric | OSCR | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 26x | 50% below |
| PE % | 3 | 35 | 32 pts below |
OSCR has the edge over BIIB on valuation relative to its sector.
BIIB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $238.6 | 5% above |
| 20 week MA | $222.1 | 13% above |
| 50 week MA | $200.5 | 25% above |
| 100 week MA | $170.0 | 47% above |
| 200 week MA | $205.0 | 22% above |
BIIB has climbed back above all five of its weekly moving averages, and it's now 22% above its 200-week average.
OSCR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.2 | 2.3% above |
| 20 week MA | $31.1 | 2.8% above |
| 50 week MA | $22.9 | 39% above |
| 100 week MA | $19.3 | 65% above |
| 200 week MA | $15.5 | 106% above |
OSCR is in an uptrend: it's above all five of its weekly moving averages, and 106% above its 200-week average.
BIIB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $300.1 | $248.9 | -17% |
| 2021 | $248.9 | $235.4 | -5.4% |
| 2022 | $235.4 | $279.2 | +19% |
| 2023 | $279.2 | $258.8 | -7.3% |
| 2024 | $258.8 | $151.3 | -42% |
| 2025 | $151.3 | $177.1 | +17% |
| 2026 YTD | $177.1 | $250.5 | +41% |
BIIB is up 41% so far in 2026, after finishing lower in four of the previous six years.
OSCR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $31.0 | $8.02 | -74% |
| 2022 | $8.02 | $2.21 | -72% |
| 2023 | $2.21 | $9.15 | +314% |
| 2024 | $9.15 | $13.8 | +51% |
| 2025 | $13.8 | $14.9 | +8% |
| 2026 YTD | $14.9 | $31.9 | +114% |
OSCR has the edge over BIIB on returns for 2026, with the stronger performance.