HUTCHMED (China) Ltd HCM
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.52
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $548.5M | $630.2M | $838.0M | $426.4M | $356.1M | $228.0M | $204.9M | $214.1M | $241.2M | $216.1M |
| Cost of revenue | $336.3M | $348.9M | $384.4M | $311.1M | — | — | — | — | $169.8M | $149.1M |
| Gross profit | $212.2M | $281.3M | $453.6M | $115.3M | — | — | — | — | $71.4M | $66.9M |
| R&D | $148.3M | $212.1M | $302.0M | $386.9M | $299.1M | $174.8M | $138.2M | $114.2M | $75.5M | $66.9M |
| SG&A | $66.7M | $64.3M | $79.8M | $92.2M | $89.3M | $50.0M | $39.2M | $30.9M | $24.0M | $21.6M |
| Total operating expenses | $587.7M | $673.9M | $819.6M | $834.1M | $684.4M | $424.6M | $351.3M | $306.8M | $294.6M | $262.8M |
| Operating income | -$39.2M | -$43.7M | $18.4M | -$407.7M | -$328.3M | -$196.7M | -$146.4M | -$92.6M | -$53.4M | -$46.7M |
| Interest expense | $2.9M | $2.9M | $759.0K | $652.0K | $592.0K | $787.0K | $1.0M | $1.0M | $1.5M | $1.6M |
| Pre-tax income | $498.7M | -$1.1M | $58.3M | -$410.4M | -$215.7M | -$189.7M | -$141.1M | -$86.7M | -$53.5M | -$47.4M |
| Income tax | $63.6M | $7.2M | $4.5M | $283.0K | $11.9M | $4.8M | $3.3M | $4.0M | $3.1M | $4.3M |
| Net income | $456.9M | $37.7M | $100.8M | -$360.8M | -$194.6M | -$125.7M | -$106.0M | -$74.8M | -$26.7M | $11.7M |
| EPS, basic | 0.53 | 0.04 | 0.12 | -0.43 | -0.25 | -0.18 | -0.16 | -0.11 | -0.04 | 0.20 |
| EPS, diluted | 0.52 | 0.04 | 0.12 | -0.43 | -0.25 | -0.18 | -0.16 | -0.11 | -0.04 | 0.20 |
| Shares, diluted (wtd. avg.) | $872.9M | $872.8M | $869.2M | $847.1M | $792.7M | $697.9M | $665.7M | $664.3M | $617.2M | $60.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $71.3M | $154.0M | $283.6M | $313.3M | $377.5M | $235.6M | $121.2M | $86.0M | $85.3M | $79.4M |
| Short-term investments | $1.30B | $682.2M | $602.7M | $317.7M | $634.2M | $199.5M | $96.0M | $214.9M | $273.0M | $24.3M |
| Receivables | $126.8M | $155.5M | $116.9M | $98.0M | $83.6M | $47.9M | $41.4M | $40.2M | $38.4M | $40.8M |
| Inventory | $41.1M | $50.4M | $50.3M | $56.7M | $35.8M | $19.8M | $16.2M | $12.3M | $11.8M | $12.8M |
| Total current assets | $1.57B | $1.07B | $1.10B | $839.9M | $1.21B | $530.7M | $317.0M | $370.5M | $432.2M | $167.4M |
| Property, plant and equipment | $94.6M | $92.5M | $99.7M | $75.9M | $41.3M | $24.2M | $20.9M | $16.6M | $14.2M | $10.0M |
| Goodwill | $3.1M | $3.0M | $3.1M | $3.1M | $3.4M | $3.3M | $3.1M | $3.2M | $3.3M | $3.1M |
| Other intangibles | $8.9M | — | $21.0K | $85.0K | $163.0K | $227.0K | $275.0K | $347.0K | $430.0K | $469.0K |
| Total assets | $1.75B | $1.27B | $1.28B | $1.03B | $1.37B | $724.1M | $465.1M | $532.1M | $597.9M | $342.4M |
| Accounts payable | $45.5M | $42.5M | $36.3M | $71.1M | $41.2M | $31.6M | $24.0M | $25.6M | $24.4M | $35.5M |
| Short-term debt | $25.0M | $23.4M | $31.2M | — | $26.9M | — | — | — | $30.0M | $20.0M |
| Total current liabilities | $315.8M | $376.6M | $403.0M | $353.9M | $311.7M | $158.4M | $113.1M | $85.5M | $104.6M | $95.1M |
| Long-term debt | $68.2M | $59.4M | $48.2M | $18.1M | — | $26.9M | $26.8M | $26.7M | $30.0M | $26.8M |
| Total liabilities | $501.8M | $502.3M | $536.4M | $392.6M | $333.1M | $205.2M | $152.2M | $119.9M | $113.0M | $138.4M |
| Retained earnings | -$378.6M | -$833.2M | -$870.9M | -$971.5M | -$610.3M | -$415.6M | -$289.7M | -$183.0M | -$107.1M | -$80.4M |
| Total equity | $1.24B | $759.9M | $743.4M | $636.9M | $1.04B | $518.9M | $312.9M | $411.6M | $483.9M | $204.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$64.7M | $497.0K | $219.3M | -$268.6M | -$204.2M | -$62.1M | -$80.9M | -$32.8M | -$8.9M | -$9.6M |
| Depreciation and amortisation | $13.3M | $12.3M | $8.2M | $8.7M | $7.2M | $6.1M | $4.9M | $3.6M | $2.6M | $2.3M |
| Capital expenditure | $14.1M | $17.9M | $32.6M | $36.7M | $16.4M | $7.9M | $8.6M | $6.4M | $5.0M | $4.3M |
| Investing cash flow | -$29.4M | -$96.1M | -$291.1M | $296.6M | -$306.3M | -$125.4M | $119.0M | $43.8M | -$260.8M | -$33.6M |
| Financing cash flow | $7.8M | -$30.7M | $48.7M | -$82.8M | $650.0M | $296.4M | -$1.5M | -$8.2M | $273.2M | $92.4M |
| Buybacks | — | $36.1M | $9.1M | $48.1M | $27.3M | $12.9M | $346.0K | $5.5M | $1.4M | $604.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-023822.
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