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Biomarin Pharmaceutical (Biomarin Pharmaceutical) ROC (Joel Greenblatt) %

: 4.40% (As of Dec. 2023)
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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Biomarin Pharmaceutical's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.40%.

The historical rank and industry rank for Biomarin Pharmaceutical's ROC (Joel Greenblatt) % or its related term are showing as below:

BMRN' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -89.83   Med: -4.11   Max: 9.71
Current: 9.42

During the past 13 years, Biomarin Pharmaceutical's highest ROC (Joel Greenblatt) % was 9.71%. The lowest was -89.83%. And the median was -4.11%.

BMRN's ROC (Joel Greenblatt) % is ranked better than
85.86% of 1471 companies
in the Biotechnology industry
Industry Median: -339.22 vs BMRN: 9.42

Biomarin Pharmaceutical's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.


Biomarin Pharmaceutical ROC (Joel Greenblatt) % Historical Data

The historical data trend for Biomarin Pharmaceutical's ROC (Joel Greenblatt) % 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 Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
ROC (Joel Greenblatt) %
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.83 -1.24 -3.38 8.88 9.71

Biomarin Pharmaceutical Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
ROC (Joel Greenblatt) % Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.98 11.73 13.48 8.09 4.40

Competitive Comparison

For the Biotechnology subindustry, Biomarin Pharmaceutical's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Biomarin Pharmaceutical ROC (Joel Greenblatt) % Distribution

For the Biotechnology industry and Healthcare sector, Biomarin Pharmaceutical's ROC (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Biomarin Pharmaceutical's ROC (Joel Greenblatt) % falls into.



Biomarin Pharmaceutical ROC (Joel Greenblatt) % Calculation

Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:

ROC (Joel Greenblatt) %=EBIT/Average of (Net fixed Assets + Net Working Capital)

EBIT stands for Earnings Before Interest and Taxes.

Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.

GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.

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.

So ROC (Joel Greenblatt) % of Biomarin Pharmaceutical for the quarter that ended in Dec. 2023 can be restated 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 %

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

* 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.


Biomarin Pharmaceutical  (NAS:BMRN) ROC (Joel Greenblatt) % Explanation

The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.

Joel Greenblatt uses his definition of Return on Capital and Earnings Yield (Joel Greenblatt) % to rank companies.


Biomarin Pharmaceutical ROC (Joel Greenblatt) % Related Terms

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Biomarin Pharmaceutical (Biomarin Pharmaceutical) Business Description

Traded in Other Exchanges
Address
770 Lindaro Street, San Rafael, CA, USA, 94901
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

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