BioMarin Pharmaceutical Inc. (BMRN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-87.5%

$7.27

vs $58.17 price

Levered DCF

$186.17

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.33

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	32.65×	29.21×	108.34×	136.17×	-252.43×	18.46×	-650.38×	-193.52×
P/B	1.87×	2.21×	3.66×	4.17×	3.79×	3.86×	4.85×	5.08×
P/S	3.54×	4.38×	7.49×	9.15×	8.75×	8.52×	8.88×	10.11×
EV / EBITDA	18.73×	18.75×	60.15×	73.64×	351.17×	194.76×	487.47×	-4,573.64×
Gross margin	77.1%	79.7%	78.0%	76.0%	74.5%	71.8%	78.9%	78.9%
Operating margin	16.6%	17.0%	7.7%	7.7%	-4.5%	-2.3%	-5.9%	-8.3%
Net margin	10.8%	15.0%	6.9%	6.8%	-3.5%	45.9%	-1.4%	-5.2%
Current ratio	5.21×	5.33×	2.51×	4.67×	4.16×	4.76×	2.08×	3.93×
Debt / equity	0.11×	0.11×	0.22×	0.24×	0.26×	0.26×	0.28×	0.28×
Interest coverage	48.95×	38.23×	10.72×	10.08×	-5.37×	-1.48×	-4.28×	-2.83×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.7%	7.5%	3.4%	3.1%	-1.5%	20.8%	-0.8%	-2.6%
Return on invested capital	5.6%	6.0%	2.7%	2.6%	-1.3%	14.1%	-0.6%	-1.7%
Return on assets	4.6%	6.1%	2.5%	2.2%	-1.1%	14.6%	-0.5%	-1.7%
Free cash flow yield	6.4%	3.8%	0.3%	0.3%	1.1%	-0.3%	-0.6%	-0.8%
Earnings yield	3.1%	3.4%	0.9%	0.7%	-0.4%	5.4%	-0.2%	-0.5%
Enterprise value	$10.7B	$12.2B	$18.5B	$19.5B	$16.7B	$16.3B	$15.6B	$15.4B
Net debt / EBITDA	-1.17×	-0.45×	1.11×	1.39×	10.59×	5.23×	13.2×	-99.83×
Cash conversion cycle (days)	591	712	639	561	521	441	527	458