Biomarin Pharmaceutical (BMRN) FY2018 results: revenue $1.5 billion, up 13.5% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $1.5 billion for fiscal 2018, the year ended 31 December 2018, up 13.5% on the year before. Net income was -$77 million, and diluted earnings per share $-0.44. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$1.5 billion
+13.5% on the year
FY2011FY2018
Operating margin
-8.3%
-1.1% a year earlier
FY2011FY2018
Net income
-$77 million
FY2011FY2018
Diluted EPS
-$0.44
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,491
1,314
1,117
+13.5%
Cost of revenue
315
242
210
+30.4%
Gross profit
1,176
1,072
907
+9.7%
Gross margin
78.9%
81.6%
81.2%
Research and development
696
611
662
+14.0%
Selling, general and administrative
604
554
477
+9.0%
Operating income
-124
-14.7
-803
Operating margin
-8.3%
-1.1%
-71.9%
Interest expense
43.7
42.7
39.5
+2.2%
Pre-tax income
-143
-35.9
-831
Income tax
-65.5
81.2
-201
Net income
-77.2
-117
-630
Net margin
-5.2%
-8.9%
-56.4%
Diluted EPS
-$0.44
-$0.67
-$3.81
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
20.2
-8.8
-228
Capital expenditure
145
199
148
-27.4%
Free cash flow
-124
-208
-376
Free cash flow margin
-8.3%
-15.8%
-33.7%
Cash from investing
264
-305
-484
Cash from financing
-388
507
727
Depreciation and amortisation
95.7
87.9
96.9
+8.9%
Share-based compensation
149
140
135
+6.1%
Buybacks
0.0
n/a
n/a
Diluted shares, weighted
177m
174m
166m
+1.6%
Shares outstanding at period end
178m
176m
173m
+1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
2,968
2,809
2,766
+5.7%
Debt
830
1,174
683
-29.3%
Other liabilities
629
650
574
-3.3%
Total liabilities and equity
4,427
4,633
4,024
-4.4%
Fixed assets
949
897
799
+5.8%
Goodwill
197
197
197
0.0%
Intangible assets
492
518
554
-5.0%
Investments
826
1,184
954
-30.2%
Cash and equivalents
494
598
408
-17.4%
Receivables
343
261
215
+31.1%
Inventory
531
476
355
+11.6%
Other assets
596
503
541
+18.5%
Total assets
4,427
4,633
4,024
-4.4%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.