Biomarin Pharmaceutical (BMRN) financial statements
Biomarin Pharmaceutical reported revenue of $3.2B in fiscal 2025, up 12.5% a year over 9 years.
Net income was $349M and the operating margin 12.7%, against -71.9% in 2016.
Free cash flow was $725M.
The diluted share count rose 19% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Biomarin Pharmaceutical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.3B | $1.5B | $1.7B | $1.9B | $1.8B | $2.1B | $2.4B | $2.9B | $3.2B |
| Cost of revenue | $210M | $242M | $315M | $359M | $524M | $471M | $503M | $532M | $580M | $717M |
| Gross profit | $907M | $1.1B | $1.2B | $1.3B | $1.3B | $1.4B | $1.6B | $1.9B | $2.3B | $2.5B |
| Research and development | $662M | $611M | $696M | $715M | $628M | $629M | $650M | $747M | $747M | $922M |
| Selling, general and admin | $477M | $554M | $604M | $681M | $738M | $759M | $823M | $892M | $1.0B | $1.2B |
| Operating income | -$803M | -$15M | -$124M | -$100M | -$43M | -$82M | $161M | $186M | $484M | $409M |
| Interest expense | $39M | $43M | $44M | $23M | $29M | $15M | $16M | $17M | $13M | $11M |
| Pre-tax income | -$831M | -$36M | -$143M | -$95M | -$49M | -$75M | $150M | $189M | $542M | $482M |
| Income tax | -$201M | $81M | -$65M | -$71M | -$903M | -$11M | $8M | $21M | $115M | $134M |
| Net income | -$630M | -$117M | -$77M | -$24M | $854M | -$64M | $142M | $168M | $427M | $349M |
| EPS (diluted) | -$3.81 | -$0.67 | -$0.44 | -$0.13 | $4.50 | -$0.35 | $0.75 | $0.87 | $2.21 | $1.80 |
| Diluted shares | 166M | 174M | 177M | 179M | 192M | 183M | 189M | 192M | 197M | 197M |
| Gross margin | 81.2% | 81.6% | 78.9% | 78.9% | 71.8% | 74.5% | 76.0% | 78.0% | 79.7% | 77.7% |
| Operating margin | -71.9% | -1.1% | -8.3% | -5.9% | -2.3% | -4.5% | 7.7% | 7.7% | 17.0% | 12.7% |
| Net margin | -56.4% | -8.9% | -5.2% | -1.4% | 45.9% | -3.5% | 6.8% | 6.9% | 15.0% | 10.8% |
Balance sheet
Fiscal years, from Biomarin Pharmaceutical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $790M | $1.4B | $1.1B | $754M | $1.1B | $1.0B | $1.3B | $1.1B | $1.1B | $1.6B |
| Receivables | $215M | $261M | $343M | $377M | $448M | $373M | $461M | $634M | $661M | $908M |
| Inventory | $355M | $476M | $531M | $680M | $699M | $777M | $894M | $1.1B | $1.2B | $1.3B |
| Total current assets | $1.4B | $2.2B | $2.1B | $1.9B | $2.3B | $2.3B | $2.8B | $3.0B | $3.2B | $4.0B |
| Property, plant and equipment | $799M | $897M | $949M | $1.0B | $1.0B | $1.0B | $1.1B | $1.1B | $1.0B | $953M |
| Goodwill | $197M | $197M | $197M | $197M | $196M | $196M | $196M | $196M | $196M | $196M |
| Total assets | $4.0B | $4.6B | $4.4B | $4.7B | $5.8B | $6.0B | $6.4B | $6.8B | $7.0B | $7.6B |
| Total current liabilities | $439M | $817M | $523M | $933M | $493M | $546M | $589M | $1.2B | $607M | $759M |
| Long-term debt | — | — | — | — | — | — | — | — | — | $597M |
| 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 | $3.0B | $3.1B | $4.1B | $4.3B | $4.6B | $5.0B | $5.7B | $6.1B |
| Net debt | -$408M | -$598M | -$494M | -$437M | -$649M | -$587M | -$725M | -$755M | -$943M | -$715M |
Cash flow
Fiscal years, from Biomarin Pharmaceutical's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$228M | -$9M | $20M | $48M | $85M | $305M | $176M | $159M | $573M | $828M |
| Capital spending | $148M | $199M | $145M | $145M | $114M | $96M | $121M | $97M | $85M | $103M |
| Free cash flow | -$376M | -$208M | -$124M | -$97M | -$29M | $209M | $55M | $63M | $487M | $725M |
| Stock-based compensation | $135M | $140M | $149M | $160M | $190M | $197M | $196M | $207M | $202M | $181M |
| Share buybacks (net) | — | — | $0 | $0 | -$50M | $0 | $0 | — | — | — |
| Free cash flow margin | -33.7% | -15.8% | -8.3% | -5.7% | -1.6% | 11.3% | 2.6% | 2.6% | 17.1% | 22.5% |
Questions
What was Biomarin Pharmaceutical's revenue in 2025?
$3.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Biomarin Pharmaceutical generate?
$725M in fiscal 2025 (operating cash flow minus capital spending).
From Biomarin Pharmaceutical's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.