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BioMarin Pharmaceutical

BMRN Nasdaq Biotechnology Financials FY2016–FY2025

BioMarin Pharmaceutical's revenue rose 12.9% to $3.2 billion in fiscal 2025. Its operating margin was 12.7%, down from 17.0% a year earlier. Free cash flow was $725 million, up 48.7%. The diluted share count rose 0.3%.

Last close · Oct 23, 2026

$55.95

1.2%
Value it Compare
Revenue Total sales reported in the income statement.
$3.2B
12.9% vs prior year
Operating margin Operating income as a share of revenue.
12.7%
4.3 pts
Net income Profit after all expenses, interest and tax.
$349M
18.3%
Free cash flow Cash from operations minus capital spending.
$725M
48.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
5.8%
1.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$10.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
151.2x
On $0.37 EPS (TTM)

What BioMarin Pharmaceutical does

No business description yet.

Legal name
BIOMARIN PHARMACEUTICAL INC
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001048477-26-000004
0001048477

Revenue and margins

BioMarin Pharmaceutical had $3.2B of revenue in fiscal 2025, up 12.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $725M in fiscal 2025, 22.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

BioMarin Pharmaceutical returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value BioMarin Pharmaceutical yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of $963M and divides by 197.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 151.2x · peers 20.9x · sector 27.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably BioMarin Pharmaceutical can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $1.0B$1.3B$1.1B$1.1B$1.6B
Debt incl. finance leases $1.1B$1.1B$1.1B$596M$598M
Net debt / EBITDA 2.7x−0.8x0.1x−0.9x−2.0x
Debt / equity 0.3x0.2x0.2x0.1x0.1x
Interest coverage −5.4x10.1x10.7x38.2x37.6x
Current ratio 4.2x4.7x2.5x5.3x5.2x
Quick ratio 2.7x3.2x1.6x3.3x3.5x
Total assets $6.0B$6.4B$6.8B$7.0B$7.6B
Total liabilities $1.7B$1.8B$1.9B$1.3B$1.5B
Shareholders' equity $4.3B$4.6B$5.0B$5.7B$6.1B
Net debt (− = net cash) $69.4M−$206M$13.4M−$542M−$963M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$4.3M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 2, 2026 George Eric DavisEVP, Chief Legal Officer Sold 17,557 $66.28 $1.2M Form 4
May 7, 2026 Gregory R FribergEVP, Chief R&D Officer Sold 3,281 $53.85 $0.2M Form 4
Mar 11, 2026 Charles Greg GuyerEVP, Chief Technical Officer Sold 16,486 $60.46 $1.0M Form 4
Feb 26, 2026 George Eric DavisEVP, Chief Legal Officer Sold 26,061 $61.36 $1.6M Form 4
Feb 26, 2026 Gregory R FribergEVP, Chief R&D Officer Sold 6,326 $60.38 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✕ ✓ ✓
Debt fell relative to assets ✓ ✓ ✓
Current ratio rose ✕ ✓ ✕
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✓ ✓ ✓
F-score 6 / 98 / 95 / 9
Accruals ratio 0.1%−2.1%−6.6%
Altman Z'' 4.347.307.43

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
BioMarin Pharmaceutical BMRN $10.9B 12.9% 12.7% 22.5% 5.8% 151.2x 5
United Therapeutics UTHR $26.9B 10.6% 46.9% 32.7% — 21.0x — Compare →
Neurocrine Biosciences NBIX $14.9B 21.5% 21.6% 26.2% 25.6% 20.9x 6 Compare →
Fortrea FTRE $2.2B 1.0% −32.0% 3.2% −36.2% — — Compare →
Exelixis EXEL $16.8B 7.0% 37.6% 37.8% 64.9% 20.3x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.1B $1.3B $1.5B $1.7B $1.9B $1.8B $2.1B $2.4B $2.9B $3.2B
Gross profit $907M $1.1B $1.2B $1.3B $1.3B $1.4B $1.6B $1.9B $2.3B $2.5B
Research and development $662M $611M $696M $715M $628M $629M $650M $747M $747M $922M
Operating income −$803M −$14.7M −$124M −$101M −$43.4M −$82.3M $161M $186M $484M $410M
Interest expense $39.5M $42.7M $43.7M $23.5M $29.3M $15.3M $16.0M $17.3M $12.7M $10.9M
Pretax income −$831M −$35.9M −$143M −$94.8M −$49.0M −$75.3M $150M $189M $542M $483M
Income tax −$201M $81.2M −$65.5M −$71.0M −$903M −$11.3M $8.0M $20.9M $115M $134M
Net income −$630M −$117M −$77.2M −$23.8M $854M −$64.1M $142M $168M $427M $349M
Diluted EPS −$3.81 −$0.67 −$0.44 −$0.13 $4.50 −$0.35 $0.75 $0.87 $2.21 $1.80
Diluted shares 0.17B 0.17B 0.18B 0.18B 0.19B 0.18B 0.19B 0.19B 0.20B 0.20B
Cash flow
Cash from operations −$228M −$8.8M $20.2M $48.3M $85.4M $305M $176M $159M $573M $828M
Capital expenditure $148M $199M $145M $145M $114M $95.6M $121M $96.7M $85.4M $103M
Free cash flow −$376M −$208M −$124M −$96.8M −$29.0M $209M $54.9M $62.6M $487M $725M
Depreciation and amortization $96.9M $87.9M $95.7M $105M $105M $108M $102M $104M $96.4M $79.6M
Stock-based compensation $135M $140M $149M $160M $190M $197M $196M $207M $202M $181M
Acquisitions $2.8M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $50.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $50.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Balance sheet
Cash and short-term investments $790M $1.4B $1.1B $754M $1.1B $1.0B $1.3B $1.1B $1.1B $1.6B
Total debt $683M $1.2B $830M $848M $1.1B $1.1B $1.1B $1.1B $595M $597M
Finance lease liabilities $0.0M $0.0M $0.0M $10.0M $6.9M $4.2M $2.5M $0.2M $1.1M $0.6M
Current assets $1.4B $2.2B $2.1B $1.9B $2.3B $2.3B $2.8B $3.0B $3.2B $4.0B
Current liabilities $439M $817M $523M $933M $493M $547M $589M $1.2B $607M $759M
Inventory $355M $476M $531M $680M $699M $777M $894M $1.1B $1.2B $1.3B
Property and equipment, net $799M $897M $949M $1.0B $1.0B $1.0B $1.1B $1.1B $1.0B $953M
Total assets $4.0B $4.6B $4.4B $4.7B $5.8B $6.0B $6.4B $6.8B $7.0B $7.6B
Total liabilities $1.3B $1.8B $1.5B $1.6B $1.7B $1.7B $1.8B $1.9B $1.3B $1.5B
Shareholders' equity $2.8B $2.8B $3.0B $3.1B $4.1B $4.3B $4.6B $5.0B $5.7B $6.1B
Margins
Gross margin 81.2% 81.6% 78.9% 78.9% 71.8% 74.5% 76.0% 78.0% 79.7% 77.7%
Operating margin −71.9% −1.1% −8.3% −5.9% −2.3% −4.5% 7.7% 7.7% 17.0% 12.7%
EBITDA margin −63.3% 5.6% −1.9% 0.3% 3.3% 1.4% 12.5% 12.0% 20.4% 15.2%
Net margin −56.4% −8.9% −5.2% −1.4% 45.9% −3.5% 6.8% 6.9% 15.0% 10.8%
FCF margin −33.7% −15.8% −8.3% −5.7% −1.6% 11.3% 2.6% 2.6% 17.1% 22.5%
Returns
Return on capital −24.7% −0.4% −3.7% −2.7% −0.9% −1.5% 3.5% 3.5% 7.6% 5.8%
Return on capital employed −23.4% −0.4% −3.2% −2.6% −1.0% −1.5% 2.9% 3.2% 8.0% 6.2%
Return on equity −24.4% −4.2% −2.7% −0.8% 23.7% −1.5% 3.2% 3.5% 8.1% 5.9%
Return on assets −16.3% −2.7% −1.7% −0.5% 16.2% −1.1% 2.3% 2.5% 6.2% 4.8%
Growth
Revenue growth 25.5% 17.6% 13.5% 14.3% 9.2% −0.8% 13.5% 15.4% 18.0% 12.9%
Net income growth — — — — — −107.5% — 18.4% 154.6% −18.3%
EPS growth — — — — — −107.8% — 16.0% 154.0% −18.6%
FCF growth — — — — — — −73.7% 13.9% 679.0% 48.7%
Share count change 3.9% 4.9% 1.6% 1.0% 7.1% −4.6% 3.3% 1.4% 2.7% 0.4%
Financial health
Net debt / EBITDA — −3.0x — 21.5x 0.3x 2.7x −0.8x 0.1x −0.9x −2.0x
Debt / equity 0.3x 0.4x 0.3x 0.3x 0.3x 0.3x 0.2x 0.2x 0.1x 0.1x
Interest coverage −20.3x −0.3x −2.8x −4.3x −1.5x −5.4x 10.1x 10.7x 38.2x 37.6x
Current ratio 3.2x 2.7x 3.9x 2.1x 4.8x 4.2x 4.7x 2.5x 5.3x 5.2x
Quick ratio 2.4x 2.1x 2.9x 1.4x 3.3x 2.7x 3.2x 1.6x 3.3x 3.5x
Capital allocation
Capex / revenue 13.3% 15.2% 9.7% 8.5% 6.1% 5.2% 5.8% 4.0% 3.0% 3.2%
Stock comp / revenue 12.1% 10.7% 10.0% 9.4% 10.2% 10.7% 9.4% 8.6% 7.1% 5.6%
Payouts / FCF — — — — — 0.0% 0.0% 0.0% 0.0% 0.0%
Quality scores
Piotroski F-score 3.0 4.0 5.0 5.0 5.0 5.0 8.0 6.0 8.0 5.0
Altman Z'' 1.3 2.4 3.0 2.2 4.0 3.9 4.7 4.3 7.3 7.4
Accruals ratio −10.4% −2.5% −2.2% −1.6% 14.6% −6.2% −0.6% 0.1% −2.1% −6.6%

Source: SEC EDGAR XBRL filings (CIK 0001048477). Data updated October 14, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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