Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
BioMarin Pharmaceutical Piotroski F-Score Related Terms
BioMarin Pharmaceutical Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for BioMarin Pharmaceutical's Piotroski F-Score 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.
MEX:BMRN vs TECH, CYTK, SMMT: Piotroski F-Score Comparison
For the Biotechnology subindustry, BioMarin Pharmaceutical's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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 Piotroski F-Score vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, BioMarin Pharmaceutical's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where BioMarin Pharmaceutical's Piotroski F-Score falls into.
* 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.
This Year (Jun26) TTM:
Last Year (Jun25) TTM:
Net Income was -563.974 + -838.579 + 1902.937 + 781.052 = MXN1,281 Mil. Cash Flow from Operations was 6763.231 + 1794.16 + 3978.933 + 2933.334 = MXN15,470 Mil. Revenue was 14237.539 + 15747.155 + 13816.799 + 17269.415 = MXN61,071 Mil. Gross Profit was 11667.792 + 10782.821 + 10300.441 + 13730.845 = MXN46,482 Mil.
Average Total Assets from the begining of this year (Jun25)
to the end of this year (Jun26) was
(140396.936 + 139688.662 + 136735.682 + 154919.214 + 204562.339) / 5 = MXN155260.5666 Mil. Total Assets at the begining of this year (Jun25) was MXN140,397 Mil. Long-Term Debt & Capital Lease Obligation was MXN61,559 Mil. Total Current Assets was MXN69,301 Mil. Total Current Liabilities was MXN29,035 Mil.
Net Income was 2088.747 + 2605.774 + 3798.801 + 4529.025 = MXN13,022 Mil.
Revenue was 14683.844 + 15585.736 + 15244.325 + 15541.81 = MXN61,056 Mil. Gross Profit was 10973.069 + 12746.462 + 12143.722 + 12715.735 = MXN48,579 Mil.
Average Total Assets from the begining of last year (Jun24)
to the end of last year (Jun25) was
(129470.385 + 134902.085 + 145759.236 + 146214.899 + 140396.936) / 5 = MXN139348.7082 Mil. Total Assets at the begining of last year (Jun24) was MXN129,470 Mil. Long-Term Debt & Capital Lease Obligation was MXN11,225 Mil. Total Current Assets was MXN71,651 Mil. Total Current Liabilities was MXN12,884 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
BioMarin Pharmaceutical's current Net Income (TTM) was 1,281.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
BioMarin Pharmaceutical's current Cash Flow from Operations (TTM) was 15,470.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
BioMarin Pharmaceutical's return on assets of this year was 0.00912724. BioMarin Pharmaceutical's return on assets of last year was 0.10058167.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
BioMarin Pharmaceutical's gearing of this year was 0.39648836. BioMarin Pharmaceutical's gearing of last year was 0.08055513.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
BioMarin Pharmaceutical's current ratio of this year was 2.38679843. BioMarin Pharmaceutical's current ratio of last year was 5.56134242.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
BioMarin Pharmaceutical's number of shares in issue this year was 194.467. BioMarin Pharmaceutical's number of shares in issue last year was 197.091.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
BioMarin Pharmaceutical's gross margin of this year was 0.76111361. BioMarin Pharmaceutical's gross margin of last year was 0.79565014.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
BioMarin Pharmaceutical's asset turnover of this year was 0.43498747. BioMarin Pharmaceutical's asset turnover of last year was 0.47158055.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
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Que. 8
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Que. 9
=
1
+
1
+
0
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1
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0
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0
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1
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0
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0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
BioMarin Pharmaceutical has an F-score of 4 indicating the company's financial situation is typical for a stable company.
BioMarin Pharmaceutical (MEX:BMRN) has a Piotroski F-Score of 5 as of Aug. 11, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on BioMarin Pharmaceutical and its competitors. This is near median its historical median of 5.00. Over the past decade, BioMarin Pharmaceutical's Piotroski F-Score has ranged from 2.00 to 9.00. According to the industry distribution chart, BioMarin Pharmaceutical ranks #205 out of 1325 companies in the Biotechnology industry, placing it in the top 15.5%.
Is BioMarin Pharmaceutical's Piotroski F-Score too high?
BioMarin Pharmaceutical's current Piotroski F-Score of 5 is near median its 10-year median of 5.00. Over the past 10 years, this metric has ranged from a low of 2.00 to a high of 9.00. The Biotechnology industry median Piotroski F-Score is 3.00. BioMarin Pharmaceutical's value of 5 is 66.7% above this industry median. Based on the distribution chart, BioMarin Pharmaceutical ranks #205 out of 1325 companies in the Biotechnology industry, which is in the top quartile — a strong position relative to peers. Overall, BioMarin Pharmaceutical has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does BioMarin Pharmaceutical's Piotroski F-Score compare to TECH and CYTK?
According to the Biotechnology industry distribution chart, BioMarin Pharmaceutical ranks #205 out of 1325 companies for Piotroski F-Score. This places BioMarin Pharmaceutical in the top 16% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 3.00. BioMarin Pharmaceutical's value of 5 is 66.7% above this benchmark. Historically, BioMarin Pharmaceutical's own Piotroski F-Score has ranged from 2.00 to 9.00 over the past decade. While the company's 10-year median is 5.00 vs. the industry median of 3.00, BioMarin Pharmaceutical has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Biotechnology company?
The median Piotroski F-Score among Biotechnology companies is 3.00, based on 1,325 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. BioMarin Pharmaceutical's current Piotroski F-Score of 5 is 66.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on BioMarin Pharmaceutical and its competitors. For the Biotechnology industry, the median Piotroski F-Score is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BioMarin Pharmaceutical's current Piotroski F-Score is 5, which is near median its own 10-year median of 5.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioMarin Pharmaceutical stock overvalued right now?
Based on GuruFocus' analysis, BioMarin Pharmaceutical (MEX:BMRN) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN1,321.11, compared to a current price of MXN1,092.00 — trading 17.3% below its estimated fair value. The current Piotroski F-Score is 5, which is near median its 10-year median of 5.00 and 66.7% above the Biotechnology industry median of 3.00. BioMarin Pharmaceutical's overall GF Score™ is 79/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For BioMarin Pharmaceutical (MEX:BMRN), the current Piotroski F-Score is 5 as of Aug. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is BioMarin Pharmaceutical (MEX:BMRN) Overvalued in 2026?
Based on GuruFocus' analysis, BioMarin Pharmaceutical stock appears to be undervalued.
The current stock price of MXN1,092.00 is trading 17.3% below its estimated GF Value™ of MXN1,321.11.
GuruFocus considers BioMarin Pharmaceutical to be Modestly Undervalued.
Key valuation signals for MEX:BMRN:
Piotroski F-Score: 5 (near median its 10-year median of 5.00)
GF Value™: MXN1,321.11 vs. price of MXN1,092.00 (17.3% below fair value)
Industry Position: 66.7% above the Biotechnology median (#205 of 1325)
No single metric tells the full story. See the MEX:BMRN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BioMarin is a global biotechnology company focused on developing and commercializing therapies for rare genetic diseases. BioMarin specializes in enzyme replacement therapies, gene therapies, and other advanced treatments designed to address complex genetic disorders. The company has eight approved therapies for conditions including achondroplasia, phenylketonuria, hemophilia, and mucopolysaccharidosis. BioMarin has an expanding, yet relatively early-stage, pipeline of treatments in development across skeletal conditions and enzyme therapies.
79GF Score
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