BMRN

MKT CAP:$10B

BioMarin Pharmaceutical Inc.

Market Cap

$10B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$53.08-$6.38 (-10.72%)

Apr 24, 2026

Company Details

BioMarin Pharmaceutical Inc. develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment o...

CEO

Alexander Hardy

IPO Date

Jul 26, 1999

Website

www.biomarin.com

Key Metrics TTM

Revenue

$3.0B

+16.5% YoY

Net Income

$386M

EPS (Diluted)

$1.98

Free Cash Flow

$863M

Revenue / Share

$15.70

Gross Margin

79.6%

Operating Margin

15.0%

Net Margin

12.8%

FCF Margin

28.6%

P/S

3.4x

P/E

26.6x

Earnings Reports

Q4 2025

May 7, 2026

PENDING

FY 2025

Feb 26, 2026

$3.2B+12.9%EPS $1.80

Q3 2025

Oct 28, 2025

$776M+4.1%EPS -$0.16

Q1 2025

May 2, 2025

$745M+14.8%EPS $0.95

FY 2024

Feb 24, 2025

$2.9B+18.0%EPS $2.21

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$409M	$305M	-$53M
Q4 21	$450M	$330M	-$66M
Q1 22	$519M	$402M	$137M
Q2 22	$534M	$411M	$39M
Q3 22	$505M	$389M	-$2M
Q4 22	$538M	$410M	-$25M
Q1 23	$596M	$461M	$62M
Q2 23	$595M	$465M	$66M
Q3 23	$581M	$453M	$31M
Q4 23	$646M	$511M	$14M
Q1 24	$649M	$524M	$88M
Q2 24	$712M	$582M	$120M
Q3 24	$746M	$557M	$114M
Q4 24	$747M	$611M	$161M
Q1 25	$745M	$594M	$224M
Q3 25	$776M	$636M	-$47M

Valuation

Quarter	P/S	P/E
Q3 21	5.5x	644.4x
Q4 21	5.6x	—
Q1 22	5.5x	260.7x
Q2 22	5.4x	189.7x
Q3 22	5.1x	122.2x
Q4 22	4.9x	72.5x
Q1 23	4.7x	143.2x
Q2 23	4.6x	102.6x
Q3 23	4.4x	69.8x
Q4 23	4.2x	61.2x
Q1 24	4.1x	49.9x
Q2 24	4.0x	40.0x
Q3 24	3.7x	31.8x
Q4 24	3.6x	24.0x
Q1 25	3.5x	19.6x
Q3 25	3.4x	26.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$97M	$77M
Q4 21	$11M	-$33M
Q1 22	-$45M	-$76M
Q2 22	$56M	$28M
Q3 22	$158M	$122M
Q4 22	$7M	-$30M
Q1 23	-$74M	-$99M
Q2 23	$70M	$47M
Q3 23	$136M	$112M
Q4 23	$27M	-$9M
Q1 24	$47M	$13M
Q2 24	$119M	$97M
Q3 24	$221M	$200M
Q4 24	$186M	$165M
Q1 25	$174M	$158M
Q3 25	$369M	$340M

Capital Expenditures

Quarter	CapEx
Q3 21	$20M
Q4 21	$44M
Q1 22	$31M
Q2 22	$28M
Q3 22	$36M
Q4 22	$36M
Q1 23	$25M
Q2 23	$23M
Q3 23	$23M
Q4 23	$37M
Q1 24	$34M
Q2 24	$22M
Q3 24	$21M
Q4 24	$20M
Q1 25	$17M
Q3 25	$28M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-14.3%	-13.3%
Q4 21	-0.5%	+3.8%
Q1 22	+6.9%	-17.1%
Q2 22	+6.4%	+0.9%
Q3 22	+23.6%	+9.9%
Q4 22	+19.5%	+9.0%
Q1 23	+14.8%	+39.8%
Q2 23	+11.5%	+7.1%
Q3 23	+15.0%	+8.5%
Q4 23	+20.2%	+12.4%
Q1 24	+8.8%	+4.9%
Q2 24	+19.6%	+11.7%
Q3 24	+28.3%	+14.7%
Q4 24	+15.6%	-7.3%
Q1 25	+14.8%	-7.0%
Q3 25	+9.0%	+39.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$49M	12.0%
Q4 21	$44M	9.8%
Q1 22	$48M	9.2%
Q2 22	$47M	8.8%
Q3 22	$55M	10.8%
Q4 22	$47M	8.7%
Q1 23	$54M	9.0%
Q2 23	$50M	8.4%
Q3 23	$48M	8.3%
Q4 23	$55M	8.5%
Q1 24	$58M	9.0%
Q2 24	$48M	6.7%
Q3 24	$43M	5.8%
Q4 24	$52M	6.9%
Q1 25	$38M	5.1%
Q3 25	$49M	6.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$158M	$86M	$97M
Q4 21	$161M	$105M	$113M
Q1 22	$161M	$90M	$105M
Q2 22	$158M	$87M	$109M
Q3 22	$158M	$106M	$111M
Q4 22	$173M	$121M	$125M
Q1 23	$172M	$105M	$106M
Q2 23	$177M	$91M	$116M
Q3 23	$191M	$51M	$122M
Q4 23	$206M	$142M	$133M
Q1 24	$205M	$107M	$119M
Q2 24	$184M	$140M	$123M
Q3 24	$185M	$145M	$109M
Q4 24	$174M	$141M	$126M
Q1 25	$159M	$104M	$103M
Q3 25	$409M	$137M	$131M

Revenue Segments

Quarter	Product	Royalty And Other
Q3 21	$394M	$15M
Q4 21	$435M	$15M
Q1 22	$506M	$14M
Q2 22	$518M	$16M
Q3 22	$493M	$12M
Q4 22	$525M	$12M
Q1 24	$638M	$11M
Q2 24	$702M	$10M
Q3 24	$734M	$12M
Q4 24	$736M	$12M
Q1 25	$735M	$11M
Q3 25	$761M	$15M

Revenue by Geography

Quarter	Europe	Latin America	Rest Of World	United States
Q3 21	$115M	$39M	$58M	$196M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$605M	$451M	$1.1B
Q2 22	$620M	$490M	$1.1B
Q3 22	$762M	$512M	$1.3B
Q4 22	$725M	$567M	$1.3B
Q1 23	$580M	$572M	$1.2B
Q2 23	$694M	$477M	$1.2B
Q3 23	$785M	$340M	$1.1B
Q4 23	$755M	$319M	$1.1B
Q1 24	$747M	$300M	$1.0B
Q2 24	$972M	$252M	$1.2B
Q3 24	$675M	$255M	$930M
Q4 24	$943M	$195M	$1.1B
Q1 25	$1.0B	$224M	$1.3B
Q2 25	$1.2B	$218M	$1.4B
Q3 25	$1.3B	$228M	$1.5B
Q4 25	$1.3B	$249M	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	183M	-1.2%	-7.3%
Q4 21	184M	+0.2%	-0.5%
Q1 22	195M	+6.2%	+5.7%
Q2 22	187M	-3.8%	+1.1%
Q3 22	186M	-1.0%	+1.3%
Q4 22	186M	+0.2%	+1.3%
Q1 23	194M	+4.5%	-0.3%
Q2 23	195M	+0.3%	+4.0%
Q3 23	191M	-2.0%	+3.0%
Q4 23	192M	+0.3%	+3.1%
Q1 24	199M	+3.9%	+2.5%
Q2 24	201M	+0.6%	+2.8%
Q3 24	197M	-1.7%	+3.1%
Q4 24	197M	-0.3%	+2.5%
Q1 25	196M	-0.1%	-1.4%
Q3 25	192M	-2.3%	-4.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$133.6K	3K
Q4 21	$147.7K	3K
Q1 22	$170.6K	3K
Q2 22	$175.3K	3K
Q3 22	$166.0K	3K
Q4 22	$174.4K	3K
Q1 23	$193.5K	3K
Q2 23	$193.1K	3K
Q3 23	$188.6K	3K
Q4 23	$190.0K	3K
Q1 24	$190.8K	3K
Q2 24	$209.4K	3K
Q3 24	$219.3K	3K
Q4 24	$245.8K	3K
Q1 25	$245.1K	3K
Q3 25	$255.3K	3K

Revenue / Employee