Biomarin Pharmaceutical (BMRN) FY2017 results: revenue $1.3 billion, up 17.6% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $1.3 billion for fiscal 2017, the year ended 31 December 2017, up 17.6% on the year before. Net income was -$117 million, and diluted earnings per share $-0.67. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2018.
Revenue
$1.3 billion
+17.6% on the year
FY2010FY2017
Operating margin
-1.1%
-71.9% a year earlier
FY2010FY2017
Net income
-$117 million
FY2010FY2017
Diluted EPS
-$0.67
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,314
1,117
890
+17.6%
Cost of revenue
242
210
152
+15.3%
Gross profit
1,072
907
738
+18.1%
Gross margin
81.6%
81.2%
82.9%
Research and development
611
662
635
-7.7%
Selling, general and administrative
554
477
402
+16.3%
Operating income
-14.7
-803
-111
Operating margin
-1.1%
-71.9%
-12.4%
Interest expense
42.7
39.5
38.2
+8.1%
Pre-tax income
-35.9
-831
-155
Income tax
81.2
-201
17.1
Net income
-117
-630
-172
Net margin
-8.9%
-56.4%
-19.3%
Diluted EPS
-$0.67
-$3.81
-$1.07
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-8.8
-228
-219
Capital expenditure
199
148
228
+34.3%
Free cash flow
-208
-376
-447
Free cash flow margin
-15.8%
-33.7%
-50.2%
Cash from investing
-305
-484
n/a
Cash from financing
507
727
n/a
-30.3%
Depreciation and amortisation
87.9
96.9
47.2
-9.3%
Share-based compensation
140
135
112
+4.2%
Diluted shares, weighted
174m
166m
160m
+4.9%
Shares outstanding at period end
176m
173m
162m
+1.9%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
2,809
2,766
2,401
+1.5%
Debt
1,174
683
662
+71.9%
Other liabilities
650
574
666
+13.2%
Total liabilities and equity
4,633
4,024
3,729
+15.1%
Fixed assets
897
799
704
+12.3%
Goodwill
197
197
197
0.0%
Intangible assets
518
554
684
-6.5%
Investments
1,184
954
621
+24.1%
Cash and equivalents
598
408
397
+46.5%
Receivables
261
215
165
+21.4%
Inventory
476
355
272
+34.0%
Other assets
503
541
689
-7.1%
Total assets
4,633
4,024
3,729
+15.1%
10-K for the year ended 31 December 2017, filed 26 February 2018: the filing.