BMRN — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($59.74)
DCF	$78.56	+31.5%
Graham Number	$43.77	-26.7%
Reverse DCF	—	implied g: 11.9%
DDM	—	—
EV/EBITDA	$59.80	+0.1%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $402.66M

Near-term growth (yrs 1–5)(%)Rev: 17.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.41%

Computed WACC: 5.41%

Cost of equity (Re)5.71%(Rf 4.30% + β 0.26 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)94.70%

Debt weight (D/V)5.30%

Results

Intrinsic Value / share$182.24

Current Price$59.74

Upside / Downside+205.1%

Net Debt (used)-$917.74M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	9.0%	13.0%	17.0%	21.0%	25.0%
7.0%	$84.00	$98.75	$115.68	$135.02	$157.04
8.0%	$68.54	$80.25	$93.69	$109.03	$126.47
9.0%	$57.89	$67.52	$78.56	$91.14	$105.45
10.0%	$50.13	$58.25	$67.54	$78.12	$90.14
11.0%	$44.24	$51.20	$59.17	$68.24	$78.54

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $2.69

Book Value / share($)Yahoo: $31.65

Results

Graham Number$43.77

Current Price$59.74

Margin of Safety-26.7%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.41%

Terminal growth rate(%)

Computed WACC: 5.41%

Cost of equity (Re)5.71%(Rf 4.30% + β 0.26 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)94.70%

Debt weight (D/V)5.30%

Results

Current Price$59.74

Implied Near-term FCF Growth-1.2%

Historical Revenue Growth17.0%

Historical Earnings Growth—

Base FCF (TTM)$402.66M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$59.74

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $722.89M

Target EV/EBITDA multipleCurrent: 14.6×

Net Debt($B)Default: -$917.74M

Results

Implied Equity Value / share$59.80

Current Price$59.74

Upside / Downside+0.1%

Implied EV$10.57B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$2.92B	-$1.92B	-$917.74M	$82.26M	$1.08B
10.6x	$55.16	$49.96	$44.75	$39.55	$34.34
12.6x	$62.69	$57.48	$52.28	$47.07	$41.87
14.6x	$70.21	$65.01	$59.80	$54.60	$49.39
16.6x	$77.74	$72.54	$67.33	$62.12	$56.92
18.6x	$85.27	$80.06	$74.86	$69.65	$64.44

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