NASDAQ : HCM
HUTCHMED (China) Limited — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · Hong Kong
Last price 13.15 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.31B
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Financial statements
HUTCHMED (China) Limited (HCM) reported revenue of 549.12M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 549.12M | 548.51M | 630.20M | 838.00M | 426.41M | 356.13M |
| Cost of Revenue | 476.02M | 484.64M | 560.99M | 686.45M | 698.00M | 557.32M |
| Gross Profit | 73.10M | 63.87M | 69.21M | 151.55M | -271.59M | -201.19M |
| Selling, General & Admin | 107.88M | 103.03M | 112.91M | 133.18M | 136.11M | 127.12M |
| Operating Expenses | 107.88M | 103.03M | 112.91M | 133.18M | 136.11M | 127.12M |
| Operating Income | -34.78M | -39.16M | -43.70M | 18.38M | -407.69M | -328.32M |
| Interest Expense | -2.87M | -2.87M | -2.87M | -759.00K | -652.00K | -592.00K |
| Interest & Investment Income | 49.88M | 49.88M | 40.08M | 36.15M | 9.60M | 2.08M |
| Earnings From Equity Investments | 3.32M | 22.65M | 46.47M | 47.30M | 49.75M | 60.62M |
| Currency Exchange Gain (Loss) | 5.00M | 5.00M | 5.06M | 8.66M | -5.70M | 1.67M |
| Other Non Operating Income (Expenses) | -1.87M | 7.00M | 5.13M | 1.65M | -5.97M | -11.89M |
| EBT Excluding Unusual Items | 18.69M | 42.50M | 50.17M | 111.37M | -360.67M | -276.43M |
| Gain (Loss) on Sale of Investments | 1.48M | 478.93M | 121.31M | |||
| Asset Writedown | -89.00K | -89.00K | -4.80M | -5.77M | ||
| Pretax Income | 20.08M | 521.34M | 45.36M | 105.60M | -360.67M | -155.12M |
| Income Tax Expense | 1.66M | 63.61M | 7.19M | 4.51M | -283.00K | 11.92M |
| Earnings From Continuing Operations | 18.42M | 457.73M | 38.17M | 101.09M | -360.39M | -167.04M |
| Minority Interest in Earnings | -536.00K | -823.00K | -441.00K | -314.00K | -449.00K | -27.61M |
| Net Income | 17.88M | 456.91M | 37.73M | 100.78M | -360.83M | -194.65M |
| Net Income to Common | 17.88M | 456.91M | 37.73M | 100.78M | -360.83M | -194.65M |
| Shares Outstanding (Basic) | 862.64M | 858.28M | 855.35M | 849.65M | 847.14M | 792.68M |
| Shares Outstanding (Diluted) | 873.04M | 872.89M | 872.83M | 869.20M | 847.14M | 792.68M |
| EPS (Basic) | 0.02 | 0.53 | 0.04 | 0.12 | -0.43 | -0.25 |
| EPS (Diluted) | 0.02 | 0.52 | 0.04 | 0.12 | -0.43 | -0.25 |
| Free Cash Flow | 9.95M | -78.81M | -17.44M | 186.65M | -305.26M | -220.62M |
| Free Cash Flow Per Share | 0.01 | -0.09 | -0.02 | 0.21 | -0.36 | -0.28 |
| Gross Margin | 13.31% | 11.64% | 10.98% | 18.09% | -63.69% | -56.49% |
| Operating Margin | -6.33% | -7.14% | -6.93% | 2.19% | -95.61% | -92.19% |
| Profit Margin | 3.26% | 83.30% | 5.99% | 12.03% | -84.62% | -54.66% |
| Free Cash Flow Margin | 1.81% | -14.37% | -2.77% | 22.27% | -71.59% | -61.95% |
| EBITDA | -20.52M | -25.85M | -31.36M | 26.58M | -399.03M | -321.13M |
| EBITDA Margin | -3.74% | -4.71% | -4.98% | 3.17% | -93.58% | -90.17% |
| D&A For EBITDA | 14.26M | 13.31M | 12.34M | 8.21M | 8.66M | 7.19M |
| EBIT | -34.78M | -39.16M | -43.70M | 18.38M | -407.69M | -328.32M |
| EBIT Margin | -6.33% | -7.14% | -6.93% | 2.19% | -95.61% | -92.19% |
| Effective Tax Rate | 8.25% | 12.20% | 15.86% | 4.27% | ||
| Revenue as Reported | 549.12M | 548.51M | 630.20M | 838.00M | 426.41M | 356.13M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 106.56M | 71.33M | 153.96M | 283.59M | 313.28M | 377.54M |
| Short-Term Investments | 1.27B | 1.30B | 684.02M | 605.43M | 320.06M | 636.92M |
| Cash & Short-Term Investments | 1.38B | 1.37B | 837.98M | 889.01M | 633.34M | 1.01B |
| Accounts Receivable | 117.56M | 126.75M | 155.54M | 116.89M | 97.99M | 83.58M |
| Other Receivables | 6.83M | 22.22M | 14.72M | 33.56M | 29.54M | 64.15M |
| Receivables | 124.39M | 148.97M | 170.26M | 150.46M | 127.53M | 147.73M |
| Inventory | 40.84M | 41.13M | 50.40M | 50.26M | 56.69M | 35.76M |
| Prepaid Expenses | 10.95M | 8.34M | 7.92M | 7.11M | 22.33M | 14.13M |
| Other Current Assets | 771.00K | |||||
| Total Current Assets | 1.55B | 1.57B | 1.07B | 1.10B | 839.89M | 1.21B |
| Property, Plant & Equipment | 93.79M | 97.65M | 97.00M | 104.39M | 84.67M | 53.15M |
| Long-Term Investments | 11.02M | 10.87M | 82.77M | 48.41M | 73.78M | 76.48M |
| Goodwill | 3.11M | 2.99M | ||||
| Long-Term Deferred Tax Assets | 12.65M | 12.45M | 15.46M | 15.37M | 9.40M | |
| Other Long-Term Assets | 78.21M | 61.47M | 12.44M | 14.68M | 15.74M | 21.55M |
| Total Assets | 1.74B | 1.75B | 1.27B | 1.28B | 1.03B | 1.37B |
| Accounts Payable | 33.65M | 45.53M | 42.52M | 36.33M | 71.11M | 41.18M |
| Accrued Expenses | 162.12M | 174.99M | 214.50M | 233.06M | 224.63M | 182.17M |
| Current Portion of Long-Term Debt | 22.41M | 24.97M | 23.37M | 31.16M | 26.91M | |
| Current Portion of Leases | 2.88M | 2.92M | 3.93M | 3.71M | 4.92M | |
| Current Income Taxes Payable | 2.08M | 1.55M | 2.58M | 1.11M | 15.55M | |
| Current Unearned Revenue | 18.11M | 33.43M | 61.74M | 60.27M | 14.17M | 12.59M |
| Other Current Liabilities | 38.93M | 31.89M | 29.96M | 35.70M | 39.17M | 28.36M |
| Total Current Liabilities | 275.21M | 315.77M | 376.56M | 403.03M | 353.90M | 311.66M |
| Long-Term Debt | 72.10M | 68.19M | 59.43M | 48.19M | 18.10M | |
| Long-Term Leases | 1.85M | 4.09M | 2.86M | 5.20M | 7.16M | |
| Long-Term Unearned Revenue | 10.58M | 20.13M | 48.43M | 69.48M | 190.00K | 878.00K |
| Long-Term Deferred Tax Liabilities | 255.00K | 2.99M | 1.48M | 2.71M | 2.77M | |
| Other Long-Term Liabilities | 103.57M | 95.63M | 10.84M | 11.35M | 12.47M | 10.69M |
| Total Liabilities | 461.46M | 501.83M | 502.34M | 536.39M | 392.57M | 333.15M |
| Common Stock | 87.23M | 87.23M | 87.16M | 87.13M | 86.48M | 86.45M |
| Additional Paid-In Capital | 1.54B | 1.53B | 1.52B | 1.52B | 1.50B | 1.51B |
| Retained Earnings | -362.71M | -378.64M | -833.17M | -870.87M | -971.48M | -610.33M |
| Comprehensive Income & Other | -3.18M | -4.53M | -11.59M | -8.16M | -1.90M | 5.57M |
| Total Common Equity | 1.26B | 1.24B | 759.93M | 730.54M | 610.37M | 986.89M |
| Minority Interest | 14.19M | 13.34M | 11.92M | 12.85M | 26.50M | 52.62M |
| Shareholders' Equity | 1.27B | 1.25B | 771.85M | 743.39M | 636.87M | 1.04B |
| Total Liabilities & Equity | 1.74B | 1.75B | 1.27B | 1.28B | 1.03B | 1.37B |
| Total Debt | 94.51M | 97.89M | 89.82M | 86.13M | 27.01M | 38.98M |
| Net Cash (Debt) | 1.28B | 1.27B | 748.15M | 802.88M | 606.33M | 975.48M |
| Net Cash Per Share | 1.47 | 1.46 | 0.86 | 0.92 | 0.72 | 1.23 |
| Filing Date Shares Outstanding | 869.07M | 859.74M | 854.88M | 853.64M | 845.17M | 856.39M |
| Total Common Shares Outstanding | 869.07M | 859.74M | 854.88M | 853.64M | 845.17M | 856.39M |
| Working Capital | 1.28B | 1.25B | 689.99M | 693.81M | 485.99M | 900.42M |
| Book Value Per Share | 1.45 | 1.44 | 0.89 | 0.86 | 0.72 | 1.15 |
| Tangible Book Value | 1.26B | 1.23B | 756.94M | 730.54M | 610.37M | 986.89M |
| Tangible Book Value Per Share | 1.45 | 1.44 | 0.89 | 0.86 | 0.72 | 1.15 |
| Buildings | 61.10M | 58.34M | 56.72M | 2.23M | 2.43M | |
| Machinery | 78.75M | 68.05M | 63.30M | 39.19M | 33.94M | |
| Construction In Progress | 1.08M | 7.27M | 8.42M | 54.55M | 19.97M | |
| Leasehold Improvements | 27.20M | 18.16M | 17.85M | 16.84M | 17.83M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 17.88M | 456.91M | 37.73M | 100.78M | -360.83M | -194.65M |
| Depreciation & Amortization | 14.26M | 13.31M | 12.34M | 8.21M | 8.66M | 7.19M |
| Other Amortization | 18.00K | 44.00K | ||||
| Loss (Gain) From Sale of Assets | -21.00K | -21.00K | 10.00K | -10.00K | 111.00K | 70.00K |
| Asset Writedown & Restructuring Costs | 9.03M | 89.00K | 2.92M | 3.68M | ||
| Loss (Gain) From Sale of Investments | -370.00K | -478.93M | -45.00K | 130.00K | -121.31M | |
| Loss (Gain) on Equity Investments | -3.32M | -22.65M | -46.47M | -47.30M | -49.75M | -60.62M |
| Stock-Based Compensation | 11.01M | 15.29M | 21.61M | 36.60M | 30.59M | 41.99M |
| Provision & Write-off of Bad Debts | -75.00K | -75.00K | -98.00K | 125.00K | 43.00K | -76.00K |
| Other Operating Activities | 10.00M | 12.29M | 34.63M | 46.07M | 43.73M | 90.68M |
| Change in Accounts Receivable | 29.46M | 28.86M | -38.55M | -21.34M | -14.45M | -35.63M |
| Change in Inventory | 7.67M | 9.54M | -772.00K | 4.13M | -21.21M | -16.00M |
| Change in Accounts Payable | -10.08M | 3.01M | 6.19M | -32.54M | 29.94M | 9.56M |
| Change in Unearned Revenue | -50.76M | -49.56M | -25.97M | 119.81M | 386.00K | 11.07M |
| Change in Other Net Operating Assets | -14.23M | -52.72M | -3.08M | 1.08M | 64.04M | 63.46M |
| Operating Cash Flow | 20.46M | -64.66M | 497.00K | 219.26M | -268.60M | -204.22M |
| Capital Expenditures | -10.51M | -14.15M | -17.93M | -32.61M | -36.66M | -16.40M |
| Sale of Property, Plant & Equipment | 27.00K | 28.00K | ||||
| Divestitures | -2.99M | |||||
| Sale (Purchase) of Intangibles | -10.00M | |||||
| Sale (Purchase) of Real Estate | 575.00K | |||||
| Investment in Securities | -14.46M | -5.29M | -79.41M | -255.53M | 333.25M | -275.49M |
| Other Investing Activities | 1.28M | -15.00M | ||||
| Investing Cash Flow | -24.94M | -29.41M | -96.06M | -291.14M | 296.59M | -306.32M |
| Long-Term Debt Issued | 30.90M | 36.20M | 61.70M | 17.75M | ||
| Short-Term Debt Repaid | -579.00K | |||||
| Long-Term Debt Repaid | -24.64M | -30.59M | -26.92M | |||
| Total Debt Repaid | -30.49M | -24.64M | -30.59M | -26.92M | -579.00K | |
| Net Debt Issued (Repaid) | -4.84M | 6.26M | 5.61M | 61.70M | -9.17M | -579.00K |
| Issuance of Common Stock | 497.00K | 1.58M | 790.00K | 5.09M | 174.00K | 717.32M |
| Repurchase of Common Stock | -36.06M | -9.07M | -48.08M | -27.31M | ||
| Other Financing Activities | -1.00M | -9.07M | -25.68M | -39.40M | ||
| Financing Cash Flow | -4.34M | 7.84M | -30.67M | 48.66M | -82.76M | 650.03M |
| Foreign Exchange Rate Adjustments | 4.66M | 3.60M | -3.40M | -6.47M | -9.49M | 2.43M |
| Net Cash Flow | -4.16M | -82.63M | -129.63M | -29.69M | -64.26M | 141.91M |
| Free Cash Flow | 9.95M | -78.81M | -17.44M | 186.65M | -305.26M | -220.62M |
| Free Cash Flow Margin | 1.81% | -14.37% | -2.77% | 22.27% | -71.59% | -61.95% |
| Free Cash Flow Per Share | 0.01 | -0.09 | -0.02 | 0.21 | -0.36 | -0.28 |
| Levered Free Cash Flow | -18.88M | -54.01M | -51.53M | 39.68M | -191.19M | -154.43M |
| Unlevered Free Cash Flow | -17.09M | -52.22M | -49.73M | 40.15M | -190.80M | -154.11M |
| Cash Interest Paid | 2.52M | 2.52M | 2.51M | 421.00K | 150.00K | 425.00K |
| Cash Income Tax Paid | 62.41M | 62.41M | 3.59M | 3.73M | 18.89M | 5.01M |
| Change in Working Capital | -37.94M | -60.86M | -62.17M | 71.15M | 58.70M | 32.46M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.31B | 2.41B | 2.51B | 3.08B | 2.69B | 6.15B |
| Enterprise Value | 1.03B | 1.18B | 1.82B | 2.27B | 1.92B | 5.28B |
| Last Close Price | 13.15 | 13.33 | 14.41 | 18.11 | 14.78 | 35.08 |
| PE Ratio | 128.93 | 5.27 | 66.65 | 30.52 | ||
| PS Ratio | 4.20 | 4.39 | 3.99 | 3.67 | 6.30 | 17.26 |
| PB Ratio | 1.81 | 1.92 | 3.26 | 4.14 | 4.22 | 5.91 |
| P/TBV Ratio | 1.83 | 1.95 | 3.32 | 4.21 | 4.40 | 6.23 |
| P/FCF Ratio | 231.71 | 16.48 | ||||
| P/OCF Ratio | 112.67 | 5,059.34 | 14.03 | |||
| EV/Sales Ratio | 1.87 | 2.14 | 2.88 | 2.71 | 4.50 | 14.82 |
| EV/EBITDA Ratio | 85.55 | |||||
| EV/EBIT Ratio | 123.76 | |||||
| EV/FCF Ratio | 103.05 | 12.18 | ||||
| Debt / Equity Ratio | 0.07 | 0.08 | 0.12 | 0.12 | 0.04 | 0.04 |
| Debt / EBITDA Ratio | 2.68 | |||||
| Debt / FCF Ratio | 9.50 | 0.46 | ||||
| Net Debt / Equity Ratio | -1.00 | -1.02 | -0.97 | -1.08 | -0.95 | -0.94 |
| Net Debt / EBITDA Ratio | 62.49 | 49.16 | 23.85 | -30.20 | 1.52 | 3.04 |
| Net Debt / FCF Ratio | -128.85 | 16.13 | 42.91 | -4.30 | 1.99 | 4.42 |
| Asset Turnover | 0.31 | 0.36 | 0.49 | 0.73 | 0.35 | 0.34 |
| Inventory Turnover | 10.66 | 10.59 | 11.15 | 12.84 | 15.10 | 20.08 |
| Quick Ratio | 5.45 | 4.81 | 2.68 | 2.58 | 2.15 | 3.73 |
| Current Ratio | 5.64 | 4.96 | 2.83 | 2.72 | 2.37 | 3.89 |
| Return on Equity (ROE) | 1.46% | 45.25% | 5.04% | 14.65% | -43.00% | -21.44% |
| Return on Assets (ROA) | -1.24% | -1.62% | -2.14% | 1.00% | -21.21% | -19.57% |
| Return on Invested Capital (ROIC) | -364.32% | |||||
| Return on Capital Employed (ROCE) | -2.40% | -2.70% | -4.90% | 2.10% | -60.40% | -30.90% |
| Earnings Yield | 0.78% | 18.99% | 1.50% | 3.28% | -13.42% | -3.17% |
| FCF Yield | 0.43% | -3.28% | -0.69% | 6.07% | -11.36% | -3.59% |
| Buyback Yield / Dilution | -0.02% | -0.01% | -0.42% | -2.60% | -6.87% | -13.58% |