Is BioMarin Pharmaceutical, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for BioMarin Pharmaceutical, Inc. has moved from very attractive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 20, while the EV to EBITDA ratio is 14.21, and the PEG ratio is notably low at 0.14, indicating potential growth relative to its price.
In comparison to peers, BioMarin's P/E ratio is lower than Illumina, Inc. at 19.09 and Elanco Animal Health, Inc. at 19.25, both of which are considered expensive. Additionally, Halozyme Therapeutics, Inc. is also rated fair with a P/E of 15.92, suggesting that BioMarin is competitively positioned within its peer group. However, the company's returns have significantly lagged behind the S&P 500, with a year-to-date return of -18.93% compared to the index's 13.30%, highlighting a challenging performance landscape.