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Amgen vs Biogen: AMGN and BIIB compared
Amgen is the larger company: $10.4B of revenue in its latest quarter (Q3 2026) against $2.8B for Biogen (Q3 2026). Biogen is growing faster (+11% against +8% a year earlier). Amgen is more profitable, with an operating margin of 35.8% against -0.3%.
Where the money goes: AMGN and BIIB
Amgen (AMGN) · Q3 2026
Amgen, Q3 2026: revenue $10.4B (+8% year over year), operating margin 35.8%, net earnings $3.9B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
Biogen (BIIB) · Q3 2026
Biogen, Q3 2026: revenue $2.8B (+11% year over year), operating margin -0.3%, net loss $20.6M, operating cash flow $641M. The chart follows the revenue to costs, profit and cash.
| Amgen (AMGN) | Biogen (BIIB) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $10.4B | $2.8B |
| Revenue growth, Y/Y | +8% | +11% |
| Operating margin | 35.8% | -0.3% |
| Net earnings | $3.9B | −$20.6M |
| Net margin | 37.3% | -0.7% |
| Operating cash flow | $4.2B | $641M |
| Free cash flow | $3.7B | $600M |
| Market value | $251.3B | $36.7B |
| P/E | 26.7× | 107.0× |
| Analysts’ mean target | $429.74 | $266.38 |
Where the revenue comes from
Amgen
- Product sales: $9.9B (95%)
- BLINCYTO: $496M (5%)
Biogen
- MS Product Revenues: $919M (33%)
- Rare Disease Product Revenue: $676M (24%)
- SPINRAZA: $461M (16%)
- Royalty Attributed to OCREVUS: $370M (13%)
Questions
Which is bigger, Amgen or Biogen?
Amgen is the larger company: $10.4B of revenue in its latest quarter (Q3 2026) against $2.8B for Biogen (Q3 2026).
Is Amgen or Biogen growing faster?
Biogen is growing faster (+11% against +8% a year earlier).
Which is more profitable, Amgen or Biogen?
Amgen is more profitable, with an operating margin of 35.8% against -0.3%.
More: Amgen earnings · how Amgen makes money · Biogen earnings · how Biogen makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.