Biomarin Pharmaceutical (Biomarin Pharmaceutical) Operating Income : $158 Mil (TTM As of Dec. 2023)

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What is Biomarin Pharmaceutical Operating Income?

Biomarin Pharmaceutical's Operating Income for the three months ended in Dec. 2023 was $14 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $158 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Biomarin Pharmaceutical's Operating Income for the three months ended in Dec. 2023 was $14 Mil. Biomarin Pharmaceutical's Revenue for the three months ended in Dec. 2023 was $646 Mil. Therefore, Biomarin Pharmaceutical's Operating Margin % for the quarter that ended in Dec. 2023 was 2.21%.

Biomarin Pharmaceutical's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Biomarin Pharmaceutical's annualized ROC % for the quarter that ended in Dec. 2023 was 1.15%. Biomarin Pharmaceutical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.40%.

Biomarin Pharmaceutical Operating Income Historical Data

The historical data trend for Biomarin Pharmaceutical's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Biomarin Pharmaceutical Operating Income Chart

Biomarin Pharmaceutical Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-104.83

-91.83

-74.33

45.96

158.10

Biomarin Pharmaceutical Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															-23.90	59.32	58.87	25.57	14.28

Biomarin Pharmaceutical Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $158 Mil.

Biomarin Pharmaceutical (NAS:BMRN) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Biomarin Pharmaceutical's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	57.116 * ( 1 - -5.42% )	/	( (5157.584	+	5332.965)	/ 2 )
=	60.2116872	/	5245.2745
=	1.15 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6758.163	-	474.734	-	( 1125.845	-	max(0, 1163.223	-	2955.308	+	1125.845	))
=	5157.584

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	6841.603	-	434.828	-	( 1073.81	-	max(0, 1177.024	-	2956.088	+	1073.81	))
=	5332.965

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Biomarin Pharmaceutical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	99.324	/	( ( (1067.156 + max(1168.962, 0))	+	(1066.133 + max(1207.91, 0)) )	/	2 )
=	99.324	/	( ( 2236.118	+	2274.043 )	/	2 )
=	99.324	/	2255.0805
=	4.40 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(572.498	+	1032.159	+	224.806)	-	(474.734	+	0	+	185.767)
=	1168.962

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(633.704	+	1107.183	+	141.391)	-	(434.828	+	4.62	+	234.92)
=	1207.91

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Biomarin Pharmaceutical's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	14.279	/	646.207
	=	2.21 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Biomarin Pharmaceutical Operating Income Related Terms

Thank you for viewing the detailed overview of Biomarin Pharmaceutical's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Biomarin Pharmaceutical (Biomarin Pharmaceutical) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Biomarin Pharmaceutical Inc (NAS:BMRN) » Definitions » Operating Income

Comparable Companies

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1BMRN:Italy BM8:Germany BM8:Germany B1MR34:Brazil

Address

770 Lindaro Street, San Rafael, CA, USA, 94901

Website

http://www.bmrn.com

BioMarin's focus is on rare-disease therapies. Genzyme (now part of Sanofi) markets Aldurazyme through its joint venture with BioMarin, and BioMarin markets Naglazyme, Vimizim, and Brineura independently. BioMarin also markets Kuvan and Palynziq to treat the rare metabolic disorder PKU (in addition to long-standing U.S. rights, BioMarin has reacquired international rights for Kuvan and Palynziq from Merck KGaA). Voxzogo (vosoritide) was approved in achondroplasia in 2021. BioMarin's Roctavian (hemophilia A gene therapy) was approved in Europe in 2022 and in the U.S. in 2023.

Executives

Jean Jacques Bienaime	director, officer: Chief Executive Officer	925 PAGE MILL ROAD, PALO ALTO CA 94304
George Eric Davis	officer: VP, General Counsel	C/O BIOMARIN PHARMACEUTICAL INC., 105 DIGITAL DRIVE, NOVATO CA 94949
Jeffrey Robert Ajer	officer: EVP, Chief Commercial Officer	C/O BIOMARIN PHARMACEUTICAL INC., 105 DIGITAL DRIVE, NOVATO CA 94949
Henry J Fuchs	officer: Chief Medical Officer	C/O BIOMARIN PHARMACEUTICAL INC., 105 DIGITAL DRIVE, NOVATO CA 94949
Charles Greg Guyer	officer: EVP, Chief Technical Officer	C/O BIOMARIN PHARMACEUTICAL INC., 770 LINDARO ST., SAN RAFAEL CA 94901
Brian Mueller	officer: EVP, Chief Financial Officer	C/O BIOMARIN PHARMACEUTICAL INC., 105 DIGITAL DRIVE, NOVATO CA 94949
Mark J Alles	director	C/O CELGENE CORPORATION, 86 MORRIS AVENUE, SUMMIT NJ 07901
Elizabeth M Anderson	director	10 FINDERNE AVENUE, BUILDING 10, BRIDGEWATER NJ 08807
Maykin Ho	director	C/O AGIOS PHARMACEUTICALS, INC., 88 SIDNEY STREET, CAMBRIDGE MA 02139
Erin Burkhart	officer: GVP, Chief Accounting Officer	C/O BIOMARIN PHARMACEUTICAL INC., 770 LINDARO ST., SAN RAFAEL CA 94901
V Bryan Lawlis	director
Richard A Meier	director	C/O INTERSECT ENT, INC., 1555 ADAMS DRIVE, MENLO PARK CA 94025
Dennis Slamon	director	770 LINDARO STREET, SAN RAFAEL CA 94901
Michael G Grey	director	C/O SGX PHARMACEUTICALS, INC., 10505 ROSELLE STREET, SAN DIEGO CA 92121
Pyott David E I	director	C/O ALLERGAN, 2525 DUPONT DRIVE, IRVINE CA 92612