Biomarin Pharmaceutical (BMRN) FY2023 results: revenue $2.4 billion, up 15.4% on the year
Biomarin Pharmaceutical Inc. (BMRN) reported revenue of $2.4 billion for fiscal 2023, the year ended 31 December 2023, up 15.4% on the year before. Net income was $168 million, up 18.4%, and diluted earnings per share $0.87. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$2.4 billion
+15.4% on the year
FY2016FY2023
Operating margin
7.7%
7.7% a year earlier
FY2016FY2023
Net income
$168 million
+18.4% on the year
FY2016FY2023
Diluted EPS
$0.87
+16.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
159
176
305
-9.5%
Capital expenditure
96.7
121
95.6
-20.1%
Free cash flow
62.6
54.9
209
+13.9%
Free cash flow margin
2.6%
2.6%
11.3%
Cash from investing
-111
-20.0
-366
Cash from financing
-18.7
-18.6
-0.0
Depreciation and amortisation
104
102
108
+2.4%
Share-based compensation
207
196
197
+5.5%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
192m
189m
183m
+1.4%
Shares outstanding at period end
189m
186m
184m
+1.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
4,952
4,603
4,271
+7.6%
Debt
1,087
1,083
1,079
+0.4%
Operating lease liabilities
38.0
26.3
31.9
+44.5%
Finance lease liabilities
0.1
0.2
2.0
-58.2%
Other liabilities
765
662
620
+15.5%
Total liabilities and equity
6,842
6,375
6,003
+7.3%
Fixed assets
1,066
1,073
1,035
-0.7%
Goodwill
196
196
196
0.0%
Intangible assets
295
339
389
-13.0%
Investments
930
901
934
+3.2%
Cash and equivalents
755
725
587
+4.2%
Receivables
634
461
373
+37.4%
Inventory
1,107
894
777
+23.8%
Other assets
1,859
1,786
1,711
+4.1%
Total assets
6,842
6,375
6,003
+7.3%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.