Biomarin Pharmaceutical (BMRN) FY2020 results: revenue $1.9 billion, up 9.2% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 December 2020, up 9.2% on the year before. Net income was $854 million, and diluted earnings per share $4.50. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$1.9 billion
+9.2% on the year
FY2013FY2020
Operating margin
-2.3%
-5.9% a year earlier
FY2013FY2020
Net income
$854 million
FY2013FY2020
Diluted EPS
$4.50
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,860
1,704
1,491
+9.2%
Cost of revenue
524
359
315
+45.8%
Gross profit
1,336
1,345
1,176
-0.6%
Gross margin
71.8%
78.9%
78.9%
Research and development
628
715
696
-12.2%
Selling, general and administrative
738
681
604
+8.3%
Operating income
-43.4
-100
-124
Operating margin
-2.3%
-5.9%
-8.3%
Interest expense
29.3
23.5
43.7
+24.9%
Pre-tax income
-49.0
-94.8
-143
Income tax
-901
-71.0
-65.5
Net income
854
-23.8
-77.2
Net margin
45.9%
-1.4%
-5.2%
Diluted EPS
$4.50
-$0.13
-$0.44
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
85.4
48.3
20.2
+76.9%
Capital expenditure
114
145
145
-21.2%
Free cash flow
-28.9
-96.8
-124
Free cash flow margin
-1.6%
-5.7%
-8.3%
Cash from investing
-53.6
-31.0
264
Cash from financing
181
-74.7
-388
Depreciation and amortisation
105
105
95.7
-0.1%
Share-based compensation
190
160
149
+18.7%
Buybacks
50.0
0.0
0.0
Diluted shares, weighted
192m
179m
177m
+7.1%
Shares outstanding at period end
182m
180m
178m
+1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
4,106
3,122
2,968
+31.5%
Debt
1,075
848
830
+26.8%
Operating lease liabilities
40.5
44.1
n/a
-8.2%
Finance lease liabilities
4.0
6.7
n/a
-40.3%
Other liabilities
622
669
629
-6.9%
Total liabilities and equity
5,848
4,690
4,427
+24.7%
Fixed assets
1,032
1,011
949
+2.1%
Goodwill
196
197
197
-0.4%
Intangible assets
417
457
492
-8.6%
Investments
702
728
826
-3.7%
Cash and equivalents
649
437
494
+48.4%
Receivables
448
377
343
+18.8%
Inventory
699
680
531
+2.7%
Other assets
1,704
802
596
+112.5%
Total assets
5,848
4,690
4,427
+24.7%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.