BioMarin Pharmaceutical Inc (BMRN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.95	$1.2	+26.3%	—	$989.7M	—
Q1 26	$0.91	$0.76	-16.5%	—	$766.2M	—
Q4 25	$0.56	$0.46	-17.9%	—	$874.6M	—
Q3 25	$0.34	$0.12	-64.7%	—	$776.1M	—
Q2 25	$1.03	$1.44	+39.8%	—	$825.4M	—
Q1 25	$0.95	$1.13	+18.9%	—	$745.1M	—
Q4 24	$0.74	$0.92	+24.3%	—	$747.3M	—
Q3 24	$0.79	$0.91	+15.2%	—	$745.7M	—
Q2 24	$0.6	$0.96	+60.0%	—	$712M	—
Q1 24	$0.6	$0.71	+18.3%	—	$648.8M	—
Q4 23	$0.45	$0.49	+8.9%	—	$646.2M	—
Q3 23	$0.23	$0.21	-8.7%	—	$581.3M	—
Q2 23	$0.23	$0.29	+26.1%	—	$595.3M	—
Q1 23	$0.18	$0.27	+50.0%	—	$596.4M	—
Q4 22	$0.39	$0.36	-7.7%	—	$537.5M	—
Q3 22	-$0.01	-$0.04	-300.0%	—	$505.3M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.82	—	—	$3.2B	—
FY24	—	$2.25	—	—	$2.9B	—
FY23	—	$0.89	—	—	$2.4B	—
FY22	—	$0.76	—	—	$2.1B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.1B	$1.3B	$1.5B	$1.7B	$1.9B	$1.8B	$2.1B	$2.4B	$2.9B	$3.2B
YoY change	+25.5%	+17.6%	+13.5%	+14.3%	+9.18%	-0.76%	+13.5%	+15.4%	+18%	+12.9%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.1B	1.3B	1.5B	1.7B	1.9B	1.8B	2.1B	2.4B	2.9B	3.2B
Cost of revenue	209.6M	241.8M	315.3M	359.5M	524.3M	470.5M	483.7M	514.9M	580.2M	717.4M
Gross profit	907.2M	1.1B	1.2B	1.3B	1.3B	1.4B	1.6B	1.9B	2.3B	2.5B
Gross margin	81.2%	81.6%	78.9%	78.9%	71.8%	74.5%	76.9%	78.7%	79.7%	77.7%
Research & development	661.9M	610.8M	696.3M	715M	628.1M	628.8M	649.6M	746.8M	747.2M	921.9M
Selling, general & administrative	476.6M	554.3M	604.4M	680.9M	737.7M	759.4M	854M	937.3M	1B	1.2B
Operating expenses	1.1B	1.2B	1.3B	1.4B	1.4B	1.4B	1.5B	1.7B	1.8B	2.1B
Operating income	-204.3M	-139.7M	-155M	-104.8M	-91.8M	-74.3M	46M	158.1M	474.2M	409.5M
Operating margin	-18.3%	-10.6%	-10.4%	-6.15%	-4.94%	-4.03%	2.19%	6.54%	16.6%	12.7%
Non-operating income, net	-594.7M	131.7M	33.2M	10.8M	55.5M	3.8M	101.5M	-10.5M	5.3M	9M
Pretax income	-831M	-35.9M	-142.7M	-94.8M	-49M	-75.3M	149.6M	188.6M	541.8M	482.5M
Income tax	-200.8M	81.2M	-65.5M	-71M	-903M	-11.3M	8M	20.9M	114.9M	133.6M
Net income	-630.2M	-117M	-77.2M	-23.8M	854M	-64.1M	141.6M	167.6M	426.9M	348.9M
Net margin	-56.4%	-8.91%	-5.18%	-1.4%	45.9%	-3.47%	6.75%	6.93%	15%	10.8%
EBITDA	-98.9M	-34M	-34.9M	27.5M	35.3M	55.4M	163.3M	309.7M	640.5M	572.9M
EPS	-3.8	-0.67	-0.44	-0.13	4.75	-0.35	0.76	0.89	2.25	1.82
Diluted EPS	-3.81	-0.67	-0.44	-0.13	4.53	-0.35	0.75	0.87	2.21	1.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	581.3M	646.2M	648.8M	712M	745.7M	747.3M	745.1M	825.4M	776.1M	874.6M	766.2M	989.7M
Cost of revenue	128M	135.5M	125.2M	130.5M	188.5M	136.1M	151.6M	150.1M	140.1M	275.7M	195M	202.8M
Gross profit	453.3M	510.7M	523.7M	581.6M	557.3M	611.2M	593.6M	675.3M	636M	598.9M	571.2M	786.9M
Gross margin	78%	79%	80.7%	81.7%	74.7%	81.8%	79.7%	81.8%	82%	68.5%	74.6%	79.5%
Research & development	191.3M	206.3M	205M	183.8M	184.9M	173.5M	158.7M	161.3M	409.5M	192.4M	178.8M	207M
Selling, general & administrative	172.6M	275M	225.9M	263M	253.5M	266.6M	206.1M	232.3M	268.4M	446.2M	258.3M	395.5M
Operating expenses	363.9M	481.3M	430.9M	446.8M	438.4M	440.1M	364.8M	393.6M	677.9M	638.6M	437.1M	602.5M
Operating income	73.7M	14.3M	78.5M	120.5M	113.9M	161.4M	223.9M	276.9M	-46.7M	-44.6M	129.6M	111M
Operating margin	12.7%	2.21%	12.1%	16.9%	15.3%	21.6%	30%	33.5%	-6.01%	-5.1%	16.9%	11.2%
Non-operating income, net	-817K	-6.8M	11.3M	-4.5M	5.5M	-6.9M	-2M	4.8M	5.1M	1M	4M	3.3M
Pretax income	41.7M	19.3M	105.5M	132.1M	134.4M	169.6M	238.1M	297.9M	-26.3M	-27.2M	141.2M	61.4M
Income tax	1.3M	-1M	16.9M	25M	28.4M	44.7M	52.4M	57.3M	4.4M	19.4M	35.7M	16.6M
Net income	40.4M	20.4M	88.7M	107.2M	106.1M	124.9M	185.7M	240.5M	-30.7M	-46.6M	105.5M	44.8M
Net margin	6.95%	3.15%	13.7%	15.1%	14.2%	16.7%	24.9%	29.1%	-3.96%	-5.33%	13.8%	4.52%
EBITDA	71.1M	51.7M	126.4M	162.2M	156.4M	195.5M	263M	319.1M	-5.3M	-3.9M	172.6M	222.3M
EPS	0.21	0.11	0.47	0.56	0.56	0.66	0.97	1.25	-0.16	-0.24	0.55	0.23
Diluted EPS	0.21	0.11	0.46	0.55	0.55	0.64	0.95	1.23	-0.16	-0.24	0.54	0.23

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	13.8B	15.6B	15.1B	15.1B	15.9B	16.2B	19.2B	18.1B	12.5B	11.4B	11.5B
Enterprise value	13.6B	15.3B	14.8B	15.2B	15.9B	16.2B	19B	18.1B	12B	10.4B	15B
Shares outstanding	166M	174.4M	177.1M	179M	180.8M	182.9M	185.3M	187.8M	190M	191.8M	191.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	18.6	—	135.4	108	29.3	32.7	160.9
P/S	12.3	11.8	10.1	8.88	8.52	8.75	9.15	7.49	4.38	3.54	3.38
P/B	4.97	5.54	5.08	4.85	3.86	3.79	4.17	3.66	2.21	1.87	1.82
EV/EBITDA	-138	-450.5	-425.1	553.9	449.3	292.8	116.2	58.6	18.7	18.2	23.2
EV/Sales	12.2	11.7	9.94	8.95	8.53	8.79	9.05	7.5	4.19	3.24	4.4
Earnings yield	—	—	—	—	5.39%	—	0.74%	0.93%	3.42%	3.06%	0.62%
FCF yield	-2.74%	-1.34%	-0.83%	-0.76%	-0.33%	1.15%	0.23%	0.29%	3.81%	6.29%	0.74%
PEG	—	—	—	—	—	—	—	—	—	—	-1.97

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	81.2%	81.6%	78.9%	78.9%	71.8%	74.5%	76.9%	78.7%	79.7%	77.7%	79.5%
Operating margin	-18.3%	-10.6%	-10.4%	-6.15%	-4.94%	-4.03%	2.19%	6.54%	16.6%	12.7%	21.2%
Net margin	-56.4%	-8.91%	-5.18%	-1.4%	45.9%	-3.47%	6.75%	6.93%	15%	10.8%	2.14%
ROE	-22.8%	-4.17%	-2.6%	-0.76%	20.8%	-1.5%	3.08%	3.39%	7.54%	5.73%	1.18%
ROA	-15.7%	-2.53%	-1.74%	-0.51%	14.6%	-1.07%	2.22%	2.45%	6.11%	4.59%	3.26%
ROIC	-7.68%	-5.4%	-5.71%	-3.25%	-2.22%	-1.71%	0.99%	2.83%	7.29%	5.77%	0.76%
Return on tangible assets	-25%	-3.65%	-2.53%	-0.7%	18.5%	-1.33%	2.67%	2.86%	7.01%	5.15%	11.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	3.24	2.7	3.93	2.08	4.76	4.16	4.67	2.51	5.33	5.21	2.39
Quick ratio	2.43	2.12	2.92	1.35	3.34	2.74	3.15	1.57	3.29	3.5	1.32
Debt / equity	0.25	0.42	0.28	0.28	0.26	0.26	0.24	0.22	0.11	0.1	0.66
Debt / assets	0.17	0.25	0.19	0.18	0.19	0.18	0.17	0.16	0.09	0.08	0.36
Net debt / EBITDA	1.08	6.51	7.28	3.82	0.61	1.36	-1.21	0.07	-0.84	-1.67	8.63
Interest coverage	-22	0.08	-2.27	-3.42	-0.78	-4.11	10.7	12.3	44.9	45.3	2.78
Effective tax rate	0%	0%	0%	0%	0%	0%	5.36%	11.1%	21.2%	27.7%	51.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	6.73	7.53	8.42	9.52	10.3	10.1	11.3	12.9	15	16.8	17.7
EPS (basic)	-3.8	-0.67	-0.44	-0.13	4.75	-0.35	0.76	0.89	2.25	1.82	1.82
EPS (diluted)	-3.81	-0.67	-0.44	-0.13	4.53	-0.35	0.75	0.87	2.21	1.8	0.37
Book value per share	16.7	16.1	16.8	17.4	22.7	23.3	24.8	26.4	29.8	31.7	32.7
FCF per share	-2.27	-1.19	-0.7	-0.64	-0.29	1.01	0.24	0.27	2.5	3.74	3.73
Cash per share	4.76	8	6.12	4.21	5.89	5.54	6.97	5.72	5.99	8.14	4.51
Capex per share	0.89	1.14	0.82	0.81	0.63	0.52	0.65	0.51	0.45	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	13.3%	15.2%	9.7%	8.51%	6.14%	5.18%	5.77%	4%	2.99%	—	—
Capex / operating cash flow	-19.2%	293%	252.8%	-1.7K%	618.6%	31.7%	41%	95.3%	14.5%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$581.3M	$646.2M	$648.8M	$712M	$745.7M	$747.3M	$745.1M	$825.4M	$776.1M	$874.6M	$766.2M	$989.7M
YoY change	+15%	+20.2%	+8.79%	+19.6%	+28.3%	+15.6%	+14.8%	+15.9%	+4.08%	+17%	+2.83%	+19.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	789.7M	1.4B	1.1B	753.8M	1.1B	1B	1.3B	1.1B	1.1B	1.6B
Receivables	215.3M	261.4M	342.6M	377.4M	448.4M	373.4M	461.3M	633.7M	660.5M	908.2M
Inventory	355.1M	475.8M	530.9M	680.3M	698.5M	776.7M	894.1M	1.1B	1.2B	1.3B
Total current assets	1.4B	2.2B	2.1B	1.9B	2.3B	2.3B	2.8B	3B	3.2B	4B
Property, plant & equipment	288M	233.4M	254.2M	285M	270.9M	260.5M	254.3M	205.3M	150.6M	41.8M
Goodwill & intangibles	1.5B	1.4B	1.4B	1.3B	1.2B	1.2B	1.1B	981.8M	903M	820.1M
Total assets	4B	4.6B	4.4B	4.7B	5.8B	6B	6.4B	6.8B	7B	7.6B
Accounts payable	191.4M	166.6M	207.6M	241M	191.4M	199.7M	231.2M	315.5M	235.4M	312.8M
Short-term debt	22.5M	360.9M	—	372.6M	11.8M	10.5M	10.4M	502.7M	7.6M	8.7M
Total current liabilities	439.3M	816.5M	523.2M	932.5M	492.5M	546.5M	588.9M	1.2B	607M	759M
Long-term debt	660.8M	813.5M	830.4M	486.2M	1.1B	1.1B	1.1B	593.1M	595.1M	597.2M
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	3B	3.1B	4.1B	4.3B	4.6B	5B	5.7B	6.1B
Total debt	683.2M	1.2B	830.4M	858.8M	1.1B	1.1B	1.1B	1.1B	602.7M	605.9M
Net debt	274.9M	576.4M	336.4M	421.4M	437.7M	502.3M	368.9M	340.6M	-340.1M	-705.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.1B	1.1B	1B	1.2B	930.4M	1.1B	1.3B	1.4B	1.5B	1.6B	2.2B	874M
Receivables	572.5M	633.7M	637.2M	691.2M	777.5M	660.5M	739.2M	855.9M	790.3M	908.2M	903.9M	1.1B
Inventory	1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.3B	1.3B	1.4B	1.3B	1.3B	1.8B
Total current assets	3B	3B	3B	3.3B	3.1B	3.2B	3.5B	3.8B	3.9B	4B	4.6B	4B
Property, plant & equipment	-851.5M	205.3M	-888M	-910M	-869.2M	150.6M	-908.2M	-931M	-949.7M	41.8M	-1.1B	-1.1B
Goodwill & intangibles	997.4M	981.8M	951.7M	923.5M	914.2M	903M	887.1M	871.6M	858.6M	820.1M	801.7M	11.1B
Total assets	6.8B	6.8B	6.9B	7.1B	6.9B	7B	7.1B	7.5B	7.6B	7.6B	8.6B	11.7B
Accounts payable	301.4M	315.5M	292.2M	257.4M	312.3M	235.4M	293.8M	310.8M	389.7M	312.8M	395.5M	407M
Short-term debt	502.7M	502.7M	502.9M	505.5M	8.1M	7.6M	6.3M	7.7M	7.6M	8.7M	9.3M	674.3M
Total current liabilities	1.2B	1.2B	1.1B	1.1B	715.7M	607M	628.2M	684.2M	798.4M	759M	793.2M	1.7B
Long-term debt	592.6M	593.1M	593.6M	594.1M	594.6M	595.1M	595.6M	596.2M	596.7M	597.2M	1.4B	3.5B
Total liabilities	1.9B	1.9B	1.8B	1.8B	1.4B	1.3B	1.4B	1.4B	1.6B	1.5B	2.4B	5.4B
Shareholders' equity	4.9B	5B	5.1B	5.3B	5.4B	5.7B	5.8B	6B	6.1B	6.1B	6.2B	6.3B
Total debt	1.1B	1.1B	1.1B	1.1B	602.7M	602.7M	602M	603.9M	604.2M	605.9M	1.4B	4.2B
Net debt	309.9M	340.6M	349.5M	127.5M	-72.8M	-340.1M	-446.8M	-610M	-645.9M	-705.8M	-782.8M	3.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-630.2M	-117M	-77.2M	-23.8M	854M	-64.1M	141.6M	167.6M	426.9M	348.9M
Depreciation & amortization	96.9M	87.9M	95.7M	105.3M	105.2M	108M	102M	104.4M	96.4M	79.6M
Stock-based compensation	134.6M	140.3M	148.8M	159.9M	189.7M	197.3M	196.3M	207.1M	201.6M	181.4M
Change in working capital	-117.5M	-136.1M	-79.8M	-183.9M	-260.5M	66M	-96.4M	-336.5M	-216.4M	-293.7M
Operating cash flow	-771.1M	68M	57.2M	-8.6M	18.5M	301.2M	295.1M	101.4M	588M	828M
Capital expenditure	-148.4M	-199.2M	-144.6M	-145M	-114.3M	-95.6M	-121M	-96.7M	-85.4M	—
Investing cash flow	-484M	-430.5M	264.4M	-12.6M	-30.4M	-342.7M	-9.4M	-100.3M	148.5M	-303.3M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	0	0	-50M	0	0	—	—	—
Financing cash flow	652.9M	446.3M	-455.5M	-106.3M	109.2M	-49.2M	-88M	-88.1M	-575.7M	-56.9M
Net change in cash	-602.2M	83.8M	-133.9M	-127.5M	97.3M	-90.7M	197.7M	-87M	160.8M	467.9M
Free cash flow	-376.2M	-208M	-124.4M	-115.1M	-52.2M	185.3M	44.4M	51.6M	475.4M	717M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	40.4M	20.4M	88.7M	107.2M	106.1M	124.9M	185.7M	240.5M	-30.7M	-46.6M	105.5M	44.8M
Depreciation & amortization	25.7M	26.9M	27.4M	26.5M	19M	23.6M	22.1M	18.6M	18.5M	20.4M	16.4M	97.6M
Stock-based compensation	48.4M	54.9M	58.2M	47.9M	43.5M	51.9M	37.7M	47.5M	49.3M	46.9M	43.5M	75.7M
Change in working capital	39.9M	-97.1M	-105.4M	-66.9M	39.1M	-83.2M	-90.5M	-158.1M	2.6M	-110.7M	36M	-77.6M
Operating cash flow	139.9M	-19M	70.3M	115.9M	220.1M	181.8M	182.8M	185.3M	368.7M	99.6M	220.7M	168.1M
Capital expenditure	-21.7M	-28.9M	-26.1M	-21.3M	-18.5M	-19.5M	-16.8M	—	—	—	—	—
Investing cash flow	-44.1M	-57.2M	-6.2M	91M	-13.4M	77.2M	-28.2M	4.8M	-297.2M	641K	746.5M	0
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-5.1M	-4M	-50M	-16.8M	-503.9M	-5M	-38.8M	-12.3M	-2.2M	-3.6M	813.2M	2.7B
Net change in cash	90.6M	-80.2M	14.1M	190.1M	-297.2M	253.9M	115.8M	177.7M	69.3M	96.7M	1.8B	2.9B
Free cash flow	112.2M	-9.2M	12.9M	96.9M	200.3M	165.3M	157.6M	167.9M	334.9M	56.6M	199.7M	133.9M

BioMarin Pharmaceutical Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement