Is Biogen, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Biogen, Inc. has moved from very attractive to attractive, indicating a shift in perception. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 13, an EV to EBITDA of 9.17, and a PEG ratio of 0.61. In comparison, peers such as the industry average P/E of approximately 13.57 and an EV to EBITDA of 8.89 suggest that Biogen is slightly below the average in terms of valuation ratios.
Despite the attractive valuation, Biogen has underperformed significantly against the S&P 500, with a 1-year return of -24.56% compared to the index's 14.08%. This trend continues over longer periods, with a 5-year return of -48.93% versus the S&P's 91.29%, highlighting the challenges the company faces in the market.