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BioMarin Pharmaceutical DCF Stock Analysis.

Here’s my assumptions:

Risk Free Rate (10 Years Interest Rate Swap): 3.82%

Risk Premium (Taken from the Aswath Damodaran equity premium spreadsheet): 4.33%

Interest Rate Spread on The Risk free rate ( For the cost of debt calculation): 3%

Historical Data

Revenue growth in the last 10 years (CAGR): 12.36%

Earnings growth in the last 10 years (CAGR): / (from -171.8M to 657.2M last Trailing Twelve Months)

Unlevered Free Cash Flow growth in the last 10 years (CAGR): / (from -59.3M to 510M last Trailing Twelve Months)

Future Assumptions

End of Year FCF growth: 7%

Growth until end of 2026: 15%

Growth until end of 2034: 7%

Perpetual growth: 3%

Net Debt: -0.828B

Outstanding Stock Options Present Value Assumption: ~$0B (Weighted average strike price is below stock price right now)

Restricted Stock Units + Performance Stock Units Present Value Assumption: $0.286B

Stock Valuation based on these assumptions: $92

Last update 10/18/2025

All the content in this newsletter should be taken as informational content only. THIS IS NOT FINANCIAL ADVICE! Do your own Due Diligence before investing or contact a professional financial advisor.

I don’t have a position in BioMarin Pharmaceutical (BMRN) and I don’t plan to add a position in the coming days.