BIOMARIN PHARMACEUTICAL INC Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
Net income, basic | $ | 348,901 | $ | 426,859 | $ | 167,645 | |||||||||||
Add: Interest expense, net of tax, on the Company's convertible debt | 7,334 | 7,327 | — | ||||||||||||||
Net income, diluted | $ | 356,235 | $ | 434,186 | $ | 167,645 | |||||||||||
| Denominator: | |||||||||||||||||
| Weighted-average common shares outstanding, basic | 191,787 | 190,027 | 187,834 | ||||||||||||||
| Effect of dilutive securities: | |||||||||||||||||
| Common stock issuable under the Company's equity incentive plans | 1,242 | 2,316 | 3,761 | ||||||||||||||
Common stock issuable under the Company’s convertible debt (1) | 4,365 | 4,365 | — | ||||||||||||||
| Weighted-average common shares outstanding, diluted | 197,394 | 196,708 | 191,595 | ||||||||||||||
Earnings per common share, basic | $ | 1.82 | $ | 2.25 | $ | 0.89 | |||||||||||
Earnings per common share, diluted | $ | 1.80 | $ | 2.21 | $ | 0.87 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
Common stock issuable under the Company's equity incentive plans | 11,307 | 9,438 | 8,072 | ||||||||||||||
Common stock issuable under the Company’s convertible debt (1) | — | — | 8,335 | ||||||||||||||
| Total number of potentially issuable shares | 11,307 | 9,438 | 16,407 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 26, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 27, 2020 | |
| 2018 | Feb 28, 2019 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.