As of May 20, 2026, Biomarin Pharmaceutical Inc has a Discounted Cash Flow (DCF) derived fair value of $50.39 per share. With the current market price at $49.81, this represents a potential upside of 1.2%.
| Key Metrics | Value |
|---|---|
| DCF Fair Value (5-year) | $40.13 |
| DCF Fair Value (10-year) | $50.39 |
| Potential Upside (5-year) | -19.4% |
| Potential Upside (10-year) | 1.2% |
| Discount Rate (WACC) | 7.9% - 11.2% |
Revenue is projected to grow from $3221 million in 12-2025 to $6990 million by 12-2035, representing a compound annual growth rate of approximately 8.1%.
| Fiscal Year | Revenue (USD millions) | Growth |
|---|---|---|
| 12-2025 | 3221 | 13% |
| 12-2026 | 3312 | 3% |
| 12-2027 | 3687 | 11% |
| 12-2028 | 3990 | 8% |
| 12-2029 | 4364 | 9% |
| 12-2030 | 4763 | 9% |
| 12-2031 | 5167 | 8% |
| 12-2032 | 5643 | 9% |
| 12-2033 | 6103 | 8% |
| 12-2034 | 6429 | 5% |
| 12-2035 | 6990 | 9% |
Net profit margin is expected to improve from 11% in 12-2025 to 18% by 12-2035, driven by operational efficiency and economies of scale.
| Fiscal Year | Net Profit (USD millions) | Profit Margin |
|---|---|---|
| 12-2025 | 349 | 11% |
| 12-2026 | 468 | 14% |
| 12-2027 | 550 | 15% |
| 12-2028 | 625 | 16% |
| 12-2029 | 715 | 16% |
| 12-2030 | 812 | 17% |
| 12-2031 | 888 | 17% |
| 12-2032 | 977 | 17% |
| 12-2033 | 1064 | 17% |
| 12-2034 | 1129 | 18% |
| 12-2035 | 1236 | 18% |
with a 5-year average of $113 million. Projected CapEx is expected to maintain at approximately 5% of revenue.
Depreciation is based on an average useful life of 5 years for capital assets.
| Fiscal Year | D&A (USD millions) |
|---|---|
| 12-2026 | 121 |
| 12-2027 | 130 |
| 12-2028 | 147 |
| 12-2029 | 170 |
| 12-2030 | 193 |
| 12-2031 | 211 |
Net working capital is expected to increase gradually, with projected changes affecting free cash flow.
| Components | Average Days |
|---|---|
| Days Receivables | 94 |
| Days Inventory | 776 |
| Days Payables | 0 |
| Fiscal Year | EBITDA | Tax | CapEx | Change in NWC | FCF |
|---|---|---|---|---|---|
| 9M/2026 | 437 | 44 | 119 | (82) | 355 |
| 2027 | 676 | 69 | 177 | 173 | 257 |
| 2028 | 771 | 78 | 192 | 153 | 349 |
| 2029 | 887 | 89 | 210 | 123 | 465 |
| 2030 | 1012 | 101 | 229 | 162 | 520 |
| Valuation Method | Fair Price (USD) | Potential Upside |
|---|---|---|
| 5-Year DCF (Growth) | 40.13 | -19.4% |
| 10-Year DCF (Growth) | 50.39 | 1.2% |
| 5-Year DCF (EBITDA) | 52.68 | 5.8% |
| 10-Year DCF (EBITDA) | 62.07 | 24.6% |
Is Biomarin Pharmaceutical Inc (BMRN) a buy or a sell? Biomarin Pharmaceutical Inc is definitely a buy. Based on our DCF analysis, Biomarin Pharmaceutical Inc (BMRN) appears to be slightly undervalued with upside potential of 1.2%. The company's strong projected growth in revenue and profitability, coupled with consistent capital expenditure, supports our positive outlook on its intrinsic value.
Key investment drivers include:
Investors should consider a hold with potential to accumulate at the current market price of $49.81.