BioMarin Pharmaceutical vs Exelixis
Add, change or remove companies; up to four.
KIRA’s take AI analyst
I put BioMarin Pharmaceutical and Exelixis side by side, using each one’s latest annual report. Here is what stands out:
- BioMarin Pharmaceutical is the larger business, with $3.2B of revenue in fiscal 2025 against $2.3B for Exelixis.
- BioMarin Pharmaceutical grew revenue faster (12.9%, against 7.0%).
- Exelixis kept more of each dollar of sales as operating profit (37.6% operating margin, against 12.7%).
- Exelixis turned more of its sales into free cash flow (37.8% FCF margin, against 22.5%).
- Exelixis earned a higher return on the capital invested in it (64.9%, against 5.8%).
- Investors pay more for each dollar of BioMarin Pharmaceutical’s earnings: a P/E of 150.7x against 20.5x for Exelixis.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
BioMarin Pharmaceutical
BMRN
2/11
Revenue growthNet debt / EBITDA
Exelixis
EXEL
9/11
5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | BMRN FY25 | EXEL FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.8B | $16.9B |
| Revenue | $3.2B | $2.3B |
| Free cash flow | $725M | $876M |
| Net income | $349M | $783M |
| Growth | ||
| Revenue growth | 12.9% | 7.0% |
| 5-year growth | 11.6% | 18.6% |
| Share count change | 0.4% | −4.8% |
| Profitability | ||
| Gross margin | 77.7% | 96.4% |
| Operating margin | 12.7% | 37.6% |
| Net margin | 10.8% | 33.7% |
| FCF margin | 22.5% | 37.8% |
| Return on capital | 5.8% | 64.9% |
| Return on equity | 5.9% | 35.5% |
| Balance sheet | ||
| Net debt | −$963M | −$1.1B |
| Net debt / EBITDA | −2.0x | −1.2x |
| Dividends and buybacks | $0.0M | $948M |
| Valuation & quality | ||
| P/E | 150.7x | 20.5x |
| Piotroski F-score | 5 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.