# BioMarin Pharmaceuticals Inc (BMRN) — Stock CV

BioMarin Pharmaceuticals Inc is a $10.6B healthcare company. Revenue grew 11.2% over the last year, and it keeps 2¢ of every dollar of sales as profit. It trades at 145.4× earnings — around the middle of its own history.

> BioMarin is a global biotechnology company focused on developing and commercializing therapies for rare genetic diseases. BioMarin specializes in enzyme replacement therapies, gene therapies, and other advanced treatments designed to address complex genetic disorders.

## Identity

- **Ticker**: BMRN
- **Sector**: Healthcare
- **Industry**: Pharmaceutical Preparations
- **Headquarters**: NOVATO, CA
- **Employees**: 3 221
- **Website**: https://www.biomarin.com
- **Market cap**: $10.6B
- **Last price**: $54.80
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $3.41B
- **Net income**: $73.0M
- **Free cash flow**: $738M
- **P/E**: 145.4
- **Revenue growth (YoY)**: 11.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 52 |
| Growth | 45 |
| Profitability | 21 |
| Health | 35 |
| Quality | 65 |
| Moat | 30 |

## Qualifications (beginner checklist) — 8 of 10 passed

- [x] Revenue growing — +11.2% YoY
- [x] Profitable — $73.0M TTM
- [x] Profit growing — +33.1% YoY
- [x] Generates cash — $738M TTM
- [x] Debt under control — current ratio 2.39
- [x] Established company — $10.6B market cap
- [x] Not printing shares — +3.0% shares over ~5y
- [x] Proven track record — 5/10 profitable years
- [ ] Financially stable — Altman Z 1.7 — distress
- [ ] Valuation not extreme — P/E 145.4

## Experience (career milestones)

- **2025** — BioMarin agreed to acquire Amicus Therapeutics for $4.8 billion
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **FY2020** — Turned profitable: $859M net income after a loss year
- **FY2020** — Best year on record: $859M net income
- **FY2016** — Revenue already above $1B: $1.12B in first reported year
- **2014** — BioMarin acquired a histone deacetylase inhibitor chemical library from Repligen for $2 million with the…
- **2012** — BioMarin acquired Zacharon Pharmaceuticals, a private biotechnology company based in San Diego focused on…
- **2010** — BioMarin acquired LEAD Therapeutics, Inc. (LEAD), a small private drug discovery and early stage…
- **2009** — BioMarin acquired Huxley Pharmaceuticals, Inc. (Huxley)
- **2002** — BioMarin acquired Glyko Biomedical
- **1999** — Denison Jr. with an investment of a $1.5 million from Glyko Biomedical and went public in 1999
- **1997** — BioMarin was founded in 1997 by Christopher Starr Ph.D. and Grant W

## Strengths

- High gross margin (79.6%)
- Revenue growing 11.2% year over year
- Strong cash conversion — FCF is 21.7% of revenue

## Watch-outs

- Altman Z-Score 1.70 — elevated financial-distress risk
- Thin interest coverage (-21.2×)
- Loss-making in 5 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.85B | -$64.1M | $209M |
| FY2022 | $2.10B | $142M | $54.9M |
| FY2023 | $2.42B | $168M | $62.6M |
| FY2024 | $2.85B | $427M | $487M |
| FY2025 | $3.22B | $349M | $725M |

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Source: https://stockcv.com/BMRN — derived from company filings; may be delayed or incomplete. Information, not investment advice.