Biomarin Pharmaceutical Inc (BMRN) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Biomarin Pharmaceutical Inc stock $63.18, price $57.13, upside +10.6%, quality 70 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $49.67 – $117.27 · fair‑value band $44.23 – $82.14 · the $57.13 price screens below the $63.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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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.
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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.
Stock analysis
Biomarin Pharmaceutical Inc (BMRN) currently trades at $57.13, while our model-based Fair Value estimate is $63.18, so the stock looks roughly fairly valued today (gap 9.6%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $79.55 per share, and 11 of the 24 models we run sit above the $57.13 price.
Bear case: the Asset-Based group reads lowest at $12.64, and 13 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $44.23 (bear) to $82.14 (bull), the price of $57.13 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
Key figures
Market cap $11.1B Large · P/E ratio 158.7 · P/S ratio 3.26 · EPS (TTM) $0.3600 · Net margin 2.1% · Return on equity 1.2% · Return on assets (EBIT) 3.6% · Operating margin 21.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (medium confidence).
What moves the price
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 about 19% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 11%, BMRN screens cheaper than that median.
Fair Value models
Bear$44.23Fair Value $63.18Bull$82.14
Price $57.13 · Upside +10.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.3058 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Plus 12 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+12.9%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.6%
Start year 2020 (pandemic). Over 10 years: +13.7% a year
Revenue growth 27 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+34.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−1.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.2%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−2% → 17%
2025 sits 102% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.4%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −2.7% a year for the price and +11.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: BioMarin shows moderate moat potential in rare disease biotech through its VOXZOGO pipeline but is constrained by low ROE and thin evidence on long-term profitability durability.
Main risk: Named competitors such as Ascendis Pharma with its once-weekly Yuviwel and BridgeBio with oral infigratinib could capture market share in achondroplasia from BioMarin's daily Voxzogo, pressuring prices and margins.
Bull case: BioMarin could leverage its hypochondroplasia label expansion and royalty streams from settlements to offset any Voxzogo share loss while advancing its broader rare-disease pipeline.
Bear case: If competitors gain traction with more convenient dosing and generics launch post-patent expiry, BioMarin's core revenue from Voxzogo could decline sharply without sufficient new approved products to replace it.
BioMarin keeps advancing its lead asset VOXZOGO with new imaging data that highlight effects on skull base growth in children with achondroplasia, even infants. The company has now filed to expand the label into hypochondroplasia, where it could become the first targeted option if approved next year. Will these pipeline moves drive meaningful new revenue streams in rare bone diseases, or will competition and development risks cap the upside?
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Peer Groupⓘ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.Biotechnology · 559 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside+10.6% · Top 25%
Profitability
Return on equity (12 months)1.2% · Above median
Return on assets4.6% · Top 25%
Net margin (12 months)2.1% · Below median
Operating margin (12 months)21.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)19.9% · Above median
Balance sheet
Debt / equity0.10× · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
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Is Biomarin Pharmaceutical Inc (BMRN) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $63.18 versus a price of $57.13, about +11% upside (fairly valued).
What is the fair value of BMRN?
Our model-based fair value for Biomarin Pharmaceutical Inc is $63.18 (as of Nov 3, 2026), built from audited fundamentals. The current price: $57.13.
What is the quality score of BMRN?
Biomarin Pharmaceutical Inc has a Quality Score of 70/100. 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 price target for Biomarin Pharmaceutical Inc (BMRN)?
Our model-based price target is the fair value of $63.18 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario $44.23, optimistic scenario $82.14. It is a calculation from audited fundamentals, not an analyst target.
What is the Biomarin Pharmaceutical Inc stock forecast for 2026?
Our models put fair value at $63.18, about +11% upside versus a price of $57.13 (fairly valued). Cautious scenario $44.23, optimistic scenario $82.14. The calculation is refreshed regularly with new filings.
What is the revenue of Biomarin Pharmaceutical Inc (BMRN)?
Biomarin Pharmaceutical Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 3, 2026).
What growth is priced into Biomarin Pharmaceutical Inc (BMRN)?
For today's price to be fair in a discounted-cash-flow model, Biomarin Pharmaceutical Inc would have to grow free cash flow by -0.4 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.6 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of BMRN use?
Our models discount Biomarin Pharmaceutical Inc at 8.1 %: a base by market capitalisation (large), damped by beta 0.23, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Biomarin Pharmaceutical Inc that is -0.4 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Biomarin Pharmaceutical Inc (BMRN) delivered so far?
Over the past 5 years revenue at Biomarin Pharmaceutical Inc grew +11.6 % a year. The price currently implies -0.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Biomarin Pharmaceutical Inc (BMRN) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Biomarin Pharmaceutical Inc (-0.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Biomarin Pharmaceutical Inc (BMRN)?
The free-cash-flow yield on the price is 6.54 %: that much free cash flow Biomarin Pharmaceutical Inc produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Biomarin Pharmaceutical Inc (BMRN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Biomarin Pharmaceutical Inc it is $63.18 per share (as of Nov 3, 2026), against a price of $57.13. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Biomarin Pharmaceutical Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, BMRN trades below its calculated fair value: price $57.13, fair value $63.18, a gap of about +11% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BMRN?
No. The price is what the market pays today ($57.13); the fair value is what the company's own numbers justify ($63.18). For Biomarin Pharmaceutical Inc the two are $6.05 per share apart. That gap is exactly why we show both numbers side by side.
How much is Biomarin Pharmaceutical Inc worth?
The market values Biomarin Pharmaceutical Inc at about $11.1B (market capitalisation, as of Nov 3, 2026). Per share that is $57.13; our models calculate a fair value of $63.18 per share.
What do the bullish and bearish scenarios say about BMRN?
Our models span a range for Biomarin Pharmaceutical Inc: cautious scenario $44.23, base $63.18, optimistic $82.14 per share (as of Nov 3, 2026, price $57.13). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BMRN?
Biomarin Pharmaceutical Inc trades at a price-to-earnings ratio of 158.7 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $63.18 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 21.4 (reported for FY2025: 32.3). Median P/E at fiscal year-end, 5 fiscal years (2020 to 2025), reported earnings, FY2023, FY2024, FY2025 ex one-offs: 29.2. Other multiples: PEG 0.3, P/B 1.8, P/S 3.3, EV/EBITDA 16.1.
What is the PEG ratio of BMRN?
The PEG ratio of Biomarin Pharmaceutical Inc is 0.34 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Biomarin Pharmaceutical Inc (BMRN)?
Balance-sheet figures for Biomarin Pharmaceutical Inc (as of Nov 3, 2026): return on equity 1.2%, debt of 0.10 per unit of equity. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is BMRN from its 52-week high?
Biomarin Pharmaceutical Inc trades at $57.13, about 19% below its 52-week high of $70.24 and 15% above the low of $49.67 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $63.18 is for.
Which stocks are comparable to Biomarin Pharmaceutical Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Biomarin Pharmaceutical Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $57.13, calculated fair value $63.18 (+11%), Quality Score 70/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BMRN calculated?
We run Biomarin Pharmaceutical Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $63.18, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Biomarin Pharmaceutical Inc currently trades 10% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Biomarin Pharmaceutical Inc (BMRN)?
The closing price on Nov 4, 2026 was $57.13. Our model-based fair value is $63.18, about +11% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Biomarin Pharmaceutical Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($44.23 to $82.14) leaves room in how you read the outcome.
Key figures of Biomarin Pharmaceutical Inc
How large is the market capitalisation of Biomarin Pharmaceutical Inc (BMRN)?
The market capitalisation of Biomarin Pharmaceutical Inc is $11.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Biomarin Pharmaceutical Inc (BMRN)?
The price-to-sales ratio of Biomarin Pharmaceutical Inc is 3.26 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Biomarin Pharmaceutical Inc (BMRN)?
Earnings per share at Biomarin Pharmaceutical Inc are $0.3600 (price ÷ EPS = P/E 158.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Biomarin Pharmaceutical Inc (BMRN)?
The net margin of Biomarin Pharmaceutical Inc is 2.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Biomarin Pharmaceutical Inc (BMRN)?
The return on equity (ROE) of Biomarin Pharmaceutical Inc is 1.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Biomarin Pharmaceutical Inc (BMRN)?
On an EBIT basis the return on assets of Biomarin Pharmaceutical Inc is 3.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Biomarin Pharmaceutical Inc (BMRN)?
The operating margin of Biomarin Pharmaceutical Inc is 21.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Biomarin Pharmaceutical Inc (BMRN)?
Revenue at Biomarin Pharmaceutical Inc is growing +19.9% versus a year earlier (3y avg +15.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Biomarin Pharmaceutical Inc (BMRN)?
Earnings per share at Biomarin Pharmaceutical Inc are growing −81.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Biomarin Pharmaceutical Inc (BMRN) hold?
Biomarin Pharmaceutical Inc holds more cash than debt, $669M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 3, 2026