Biomarin Pharmaceutical Inc (BMRN)
Solvency ratios
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.09 | 0.09 | 0.09 | 0.17 | 0.17 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.18 | 0.17 | 0.20 | 0.10 | 0.10 | 0.19 | 0.19 |
| Debt-to-capital ratio | 0.10 | 0.11 | 0.11 | 0.18 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.20 | 0.20 | 0.21 | 0.21 | 0.21 | 0.25 | 0.13 | 0.13 | 0.22 | 0.22 |
| Debt-to-equity ratio | 0.12 | 0.12 | 0.12 | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.26 | 0.26 | 0.33 | 0.15 | 0.16 | 0.27 | 0.28 |
| Financial leverage ratio | 1.35 | 1.38 | 1.38 | 1.37 | 1.38 | 1.38 | 1.37 | 1.37 | 1.38 | 1.41 | 1.40 | 1.39 | 1.39 | 1.43 | 1.52 | 1.64 | 1.46 | 1.50 | 1.48 | 1.48 |
Biomarin Pharmaceutical Inc has exhibited consistent solvency ratios over the past few quarters, indicating a stable financial position.
The debt-to-assets ratio has been relatively low and consistent around the range of 0.09 to 0.20, suggesting that the company's total debt represents a small portion of its total assets. This indicates a lower risk of insolvency due to debt obligations.
The debt-to-capital ratio and debt-to-equity ratio have also remained within a narrow range, reflecting a prudent capital structure. These ratios show the proportion of debt in relation to the company's total capital and equity, respectively. Biomarin's ratios have ranged from 0.10 to 0.25 for the debt-to-capital ratio and from 0.12 to 0.33 for the debt-to-equity ratio, indicating the company has not heavily relied on debt financing to fund its operations.
The financial leverage ratio, which measures the company's financial risk, has fluctuated between 1.35 and 1.64. While this indicates some variability in the company's leverage, the ratios have generally been within a reasonable range and have not shown any alarming trends towards increasing financial risk.
Overall, based on the solvency ratios examined, Biomarin Pharmaceutical Inc appears to have a sound financial position with a moderate level of debt and a stable capital structure. However, continuous monitoring of these ratios is crucial to ensure the company maintains a healthy balance between debt and equity in the long term.
Coverage ratios
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 14.82 | 11.88 | 11.21 | 7.86 | 5.55 | 10.37 | 7.21 | 4.66 | 3.32 | -3.91 | -2.43 | -2.22 | -3.85 | -0.67 | 0.62 | 3.38 | 3.52 | -3.04 | -4.29 | -3.71 |
The interest coverage ratio for Biomarin Pharmaceutical Inc has exhibited fluctuating trends over the past few quarters. From March 31, 2024, to December 31, 2019, the interest coverage ratio ranged from a low of -4.29 to a high of 14.82, indicating significant variability in the company's ability to cover its interest expenses.
The ratio exceeded 1 in the more recent quarters, suggesting that the company's operating income was sufficient to cover its interest payments. The highest interest coverage ratio of 14.82 was reported on March 31, 2024, indicating a strong ability to meet interest obligations.
However, the company experienced lower interest coverage ratios in some periods, particularly in the quarters ending September 30, 2021, and December 31, 2020, where the ratios were negative. This implies that the company's operating income was insufficient to cover its interest expenses during those periods, potentially signaling financial distress.
Overall, Biomarin Pharmaceutical Inc's interest coverage ratio has shown volatility, indicating fluctuations in its ability to meet interest payments with operating income. Investors and analysts should closely monitor this ratio to assess the company's financial health and sustainability in meeting its debt obligations.