Is BioMarin Pharmaceutical, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for BioMarin Pharmaceutical, Inc. moved from very attractive to fair. The company appears to be fairly valued given its current metrics. 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 its peers, BioMarin's P/E ratio of 15.17 is lower than Illumina, Inc. at 19.09 and Elanco Animal Health, Inc. at 19.25, suggesting it is more attractively priced within its industry. Despite this, the company has underperformed significantly against the S&P 500, with a year-to-date return of -18.93% compared to the index's 13.30%. This trend continues over longer periods, with a three-year return of -39.98% versus the S&P 500's 81.19%, reinforcing the notion that while the stock may be fairly valued, it faces challenges in delivering returns.