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Biomarin Pharmaceutical Inc (BMRN) Fair Value & Analysis

Healthcare · US · Market cap $11.4B · ISIN US09061G1013

What is Biomarin Pharmaceutical Inc really worth?

BP Biomarin Pharmaceutical Inc logo Biomarin Pharmaceutical Inc BMRN · US
Price$66.43
Fair Value$39.71
Upside−40.2%
Quality67/100

A solid business, but trading 67% above our fair value of $39.71.

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Strengths

Low debt · generates free cash flow
Ranks above peers (9/15)

Risks

!Mixed Growth (revenue 5y +11.6 %/yr)
!Thin margins · 8.3% net margin
!Moderate moat 54/100
!Weak on future: 14 out of 100
!Weak on past: 18 out of 100
!Weak on dividend: 3 out of 100
Evidence: High Range $29.78 – $49.64

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price +9.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($49.64). The favourable scenario is already priced in.
  • Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

$117.27 $49.67 Fair Value $39.71 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range $49.67 – $117.27 · fair‑value band $29.78 – $49.64 · the $66.43 price screens above the $39.71 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Biomarin Pharmaceutical Inc (BMRN) currently trades at $66.43, while our model-based Fair Value estimate is $39.71, implying the stock looks roughly 67.3% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $76.61 per share, and 9 of the 26 models we run sit above the $66.43 price. Bear case: the Asset-Based group reads lowest at $21.10, and 17 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Biomarin Pharmaceutical Inc generated revenue of $3.2B at a net margin of 8.3%. Revenue grew 2.8% year over year. It earns a return on equity of 4.5%. The balance sheet holds a net cash position of $669M. Fundamentals as of Sep 5, 2026

Our scenario range runs from $29.78 (bear case) to $49.64 (bull case); at $66.43, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 35% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at −40%, BMRN screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $0.9444 per share, which is 2.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income $24.50 $24.97 $24.80 76
FCF DCF $63.85 $103.03 $218.32 75
EPV $23.40 $26.69 $29.56 74
All 26 models by family
DCF Models
FCF DCF $63.85 $103.03 $218.32 75
Owner Earnings $30.13 $63.84 $134.62 71
5Y Revenue Exit $39.58 $65.15 $114.78 70
5Y EBITDA Exit $44.14 $74.92 $131.22 72
5Y P/E Exit $41.63 $76.61 $121.01 69
10Y Revenue Exit $45.54 $81.80 $118.93 66
10Y EBITDA Exit $49.81 $90.60 $163.17 65
10Y P/E Exit $48.04 $85.75 $148.89 61
Earnings-Based
Graham-Dodd $12.27 $85.60 $120.13 63
Lynch FV $26.38 $37.69 $49.00 61
PEG = 1.0 $26.38 $37.69 $49.00 57
EPV $23.40 $26.69 $29.56 74
Dividend Discount
Gordon GGM $0.7100 $1.49 $2.36 66
DDM Multi-Stage $0.7100 $1.25 $1.56 66
Multiples
P/E Multiple $29.78 $39.71 $49.64 63
P/S Multiple $23.02 $30.69 $38.36 58
P/B Multiple $23.02 $30.69 $38.36 55
EV/EBIT $38.89 $50.62 $62.35 66
EV/EBITDA $37.00 $48.10 $59.20 67
EV/Revenue $28.81 $39.58 $50.34 54
Asset-Based
NCAV (Graham) $15.75 $21.10 $31.49 54
Growth DCF
Growth DCF $60.84 $114.14 $217.37 74
Rev-Margin DCF $39.58 $70.32 $116.55 70
Economic Profit
Residual Income $24.50 $24.97 $24.80 76
ROIC Compounder $23.40 $26.69 $29.56 72
Growth Earnings
Growth-Adj P/E $36.34 $51.92 $67.49 67

Widest divergence: DCF Models ($76.61) versus Dividend Discount ($1.25). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 47.8
P/S ratio 5.18 P/E × margin
EPS (TTM) $1.39 price ÷ EPS = P/E 47.8
Dividend yield 0.1% payout 6.6%
Net margin 10.8% FY2025
Return on equity 4.5% TTM
More key figures
Profitability
Return on assets (EBIT) 3.6% avg 5y
Operating margin 18.0% TTM
Growth
Revenue (TTM) $3.2B TTM
Revenue growth (YoY) +2.8% 3y avg +15.4%
EPS growth (YoY) −43.1%
Balance sheet & cash flow
Free cash flow $725M FY2025
Net cash $669M FY2025

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 68 · Market factors (momentum, volatility) 66

Profitability 41
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 92
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 72
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 73
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

BioMarin Pharmaceutical Inc., a biotechnology company, engages in the development and commercialization of therapies for life-threatening rare diseases and medical conditions in the United States, Europe, Latin America, the Middle East, the Asia Pacific, and internationally.

Full company description

BioMarin Pharmaceutical Inc., a biotechnology company, engages in the development and commercialization of therapies for life-threatening rare diseases and medical conditions in the United States, Europe, Latin America, the Middle East, the Asia Pacific, and internationally. The company's products include VIMIZIM, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; VOXZOGO, a once daily injection analog of c-type natriuretic peptide (CNP) for the treatment of achondroplasia; NAGLAZYME, a recombinant form of N- acetylgalactosamine 4-sulfatase for patients with MPS VI; and PALYNZIQ, a PEGylated recombinant phenylalanine (Phe) ammonia lyase enzyme delivered through subcutaneous injection to reduce blood Phe concentrations. It also develops BRINEURA, a recombinant human tripeptidyl peptidase 1 for the treatment of patients with ceroid lipofuscinosis type 2, a form of Batten disease; ALDURAZYME, a purified protein designed to be identical to a naturally occurring form of the human enzyme alpha-L-iduronidase; and KUVAN, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria, an inherited metabolic disease. The company's products under development include BMN 333, a longer-acting CNP for the treatment of multiple growth disorders, such as achondroplasia and hypochondroplasia; and BMN 351, an oligonucleotide for the treatment of duchenne muscular dystrophy. It serves specialty pharmacies, hospitals, non-U.S. government agencies, distributors, and pharmaceutical wholesalers. The company has license and collaboration agreements with and Ares Trading S.A. The company was incorporated in 1996 and is based in San Rafael, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Biomarin Pharmaceutical Inc reported revenue of $3.2B in FY2025 versus $1.8B in FY2021, a compound +14.9%/yr. Reported net income was $349M in FY2025.

Growth Quality 85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$3.2B
Latest YoY
+12.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.4%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.6%
Avg. revenue growth/yr (27Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+34.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−16.8% (−16.9 + 0.1)
Revenue +14.9%/yr
FY21 $1.8B
FY22 $2.1B
FY23 $2.4B
FY24 $2.9B
FY25 $3.2B
Net income
FY21 −$64.1M
FY22 $142M
FY23 $168M
FY24 $427M
FY25 $349M

BMRN screens 67% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Biomarin Pharmaceutical Inc Fair Value". https://www.fairvalue-calculator.com/stock/BMRN

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Biotechnology · 622 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside −40% · Above median
Return on equity (TTM) 4% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 18% · Top 25%
Revenue growth 3% · Above median
Dividend yield (TTM) 0.1% · Bottom 25%
Debt / equity 0.10× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 47.8× · Pricier than 75% of peers
P/B 1.88× · Pricier than median
P/S (TTM) 3.52× · Cheaper than median
P/FCF 15.8× · Pricier than 75% of peers
EV/EBITDA 17.0× · Pricier than median
PEG 0.73× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE14 · sector 0
PAST18 · sector 0
HEALTH95 · sector 98
DIVIDEND3 · sector 26

VALUE 0: the price sits above our fair-value range.

Insider activity: 44/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $547.55 $278.78 −49%
Regeneron Pharmaceuticals, Inc REGN $807.71 $594.40 −26%
argenx SE ARGX €877.60 €292.84 −67%
Samsung Biologics Co 207940 1,518,000 KRW 1,055,793 KRW −30%
CSL Limited CSL A$174.50 A$141.68 −19%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 −77%
Royalty Pharma plc RPRX $60.58 $24.22 −60%
Celltrion, Inc 068270 190,700 KRW 74,519 KRW −61%
BeOne Medicines AG ONC $362.51 $111.35 −69%
BioNTech SE BNTX $111.40 $45.66 −59%

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Frequently asked questions

Is Biomarin Pharmaceutical Inc (BMRN) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of $39.71 versus a price of $66.43, about −40% upside (overvalued).
What is the fair value of BMRN?
Our model-based fair value for Biomarin Pharmaceutical Inc is $39.71 (as of Sep 5, 2026), built from audited fundamentals. The current price: $66.43.
What is the quality score of BMRN?
Biomarin Pharmaceutical Inc has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Biomarin Pharmaceutical Inc (BMRN)?
Biomarin Pharmaceutical Inc reported trailing-twelve-month revenue of about $3.2B (latest available figure, as of Sep 5, 2026).
What is the net profit margin of BMRN?
The net profit margin of Biomarin Pharmaceutical Inc is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does Biomarin Pharmaceutical Inc pay a dividend?
Biomarin Pharmaceutical Inc currently shows a dividend yield of about 0.14% relative to its recent price (as of Sep 5, 2026).
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