HCM
HUTCHMED (China) Limited
Drug Manufacturers - Specialty & Generic
Market Cap$2.29B
5Y Perf.-51.7%
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Stock Comparison
HCM vs ZLAB vs LEGN vs CAN vs RCUS
Revenue, margins, valuation, and 5-year total return — side by side.
ZLAB
Zai Lab Limited
Biotechnology
Market Cap$2.19B
5Y Perf.-75.9%
LEGN
Legend Biotech Corporation
Biotechnology
Market Cap$5.28B
5Y Perf.-32.9%
CAN
Canaan Inc.
Computer Hardware
Market Cap$331M
5Y Perf.-72.9%
RCUS
Arcus Biosciences, Inc.
Biotechnology
Market Cap$2.50B
5Y Perf.+0.2%
HCM vs ZLAB vs LEGN vs CAN vs RCUS — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | HCM | ZLAB | LEGN | CAN | RCUS |
|---|---|---|---|---|---|
| Industry | Drug Manufacturers - Specialty & Generic | Biotechnology | Biotechnology | Computer Hardware | Biotechnology |
| Market Cap | $2.29B | $2.19B | $5.28B | $331M | $2.50B |
| Revenue (TTM) | $602M | $460M | $1.03B | $530M | $236M |
| Net Income (TTM) | $467M | $-176M | $-297M | $-210M | $-369M |
| Gross Margin | 8.9% | 58.5% | 60.3% | 7.8% | 90.7% |
| Operating Margin | -3.3% | -49.9% | -13.2% | -21.0% | -168.6% |
| Forward P/E | 41.7x | — | 118.1x | — | — |
| Total Debt | $90M | $224M | $414M | $55M | $99M |
| Cash & Equiv. | $154M | $680M | $902M | $81M | $222M |
HCM vs ZLAB vs LEGN vs CAN vs RCUS — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
HCM
ZLAB
LEGN
CAN
RCUS
| Stock | Jun 20 | May 26 | Return |
|---|---|---|---|
| HUTCHMED (China) Li… (HCM) | 100 | 48.3 | -51.7% |
| Zai Lab Limited (ZLAB) | 100 | 24.1 | -75.9% |
| Legend Biotech Corp… (LEGN) | 100 | 67.1 | -32.9% |
| Canaan Inc. (CAN) | 100 | 27.1 | -72.9% |
| Arcus Biosciences, … (RCUS) | 100 | 100.2 | +0.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: HCM vs ZLAB vs LEGN vs CAN vs RCUS
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HCM leads in 4 of 7 categories (5-stock set), making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Canaan Inc. is the stronger pick specifically for growth and revenue expansion. RCUS also leads in specific categories worth noting. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
HCM
HUTCHMED (China) Limited
The Income Pick
HCM carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.66
- Lower volatility, beta 0.66, Low D/E 11.6%, current ratio 2.83x
- Beta 0.66, current ratio 2.83x
- Better valuation composite
Best for: income & stability and sleep-well-at-night
ZLAB
Zai Lab Limited
The Healthcare Pick
ZLAB lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: healthcare exposure
LEGN
Legend Biotech Corporation
The Growth Angle
Among these 5 stocks, LEGN doesn't own a clear edge in any measured category.
Best for: healthcare exposure
CAN
Canaan Inc.
The Growth Play
CAN is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 96.7%, EPS growth 51.1%, 3Y rev CAGR -6.7%
- 96.7% revenue growth vs HCM's -24.8%
Best for: growth exposure
RCUS
Arcus Biosciences, Inc.
The Long-Run Compounder
RCUS ranks third and is worth considering specifically for long-term compounding.
- 45.9% 10Y total return vs LEGN's -22.8%
- +209.6% vs ZLAB's -30.3%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | CAN | 96.7% revenue growth vs HCM's -24.8% |
| Value | HCM | Better valuation composite |
| Quality / Margins | HCM | 77.5% margin vs RCUS's -156.4% |
| Stability / Safety | HCM | Beta 0.66 vs CAN's 4.41, lower leverage |
| Dividends | Tie | None of these 5 stocks pay a meaningful dividend |
| Momentum (1Y) | RCUS | +209.6% vs ZLAB's -30.3% |
| Efficiency (ROA) | HCM | 30.6% ROA vs RCUS's -35.3%, ROIC -5.2% vs -64.1% |
HCM vs ZLAB vs LEGN vs CAN vs RCUS — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2023
FY 2025
FY 2021
FY 2024
FY 2025
HCM vs ZLAB vs LEGN vs CAN vs RCUS — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLHCMLAGGINGLEGN
Who Leads Where
HCM leads in 2 of 6 categories
CAN leads 2 • RCUS leads 1 • ZLAB leads 0 • LEGN leads 0 • 1 tied
Explore the data ↓LEGNLegend Biotech Corpor…
0leads
ZLABZai Lab Limited
0leads
RCUSArcus Biosciences, In…
1leads
CANCanaan Inc.
2leads
HCMHUTCHMED (China) Limi…
2leads
6 Total Categories
CATEGORYLEADERvs CANvs RCUSMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
HCM4/6
Valuation MetricsMultiples, price ratios, and targets
CAN2/4
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HCM5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
RCUS4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
CAN1/1
Income & Cash Flow (Last 12 Months)
HCM leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
LEGN is the larger business by revenue, generating $1.0B annually — 4.4x RCUS's $236M. HCM is the more profitable business, keeping 77.5% of every revenue dollar as net income compared to RCUS's -156.4%. On growth, CAN holds the edge at +121.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $602M | $460M | $1.0B | $530M | $236M |
| EBITDAEarnings before interest/tax | -$7M | -$214M | -$107M | -$66M | -$391M |
| Net IncomeAfter-tax profit | $467M | -$176M | -$297M | -$210M | -$369M |
| Free Cash FlowCash after capex | -$50M | -$159M | -$231M | $0 | -$489M |
| Gross MarginGross profit ÷ Revenue | +8.9% | +58.5% | +60.3% | +7.8% | +90.7% |
| Operating MarginEBIT ÷ Revenue | -3.3% | -49.9% | -13.2% | -21.0% | -168.6% |
| Net MarginNet income ÷ Revenue | +77.5% | -38.1% | -28.8% | -39.7% | -156.4% |
| FCF MarginFCF ÷ Revenue | -8.2% | -34.5% | -22.4% | — | -2.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | -9.2% | +17.0% | +64.9% | +121.1% | -39.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +16.6% | +42.5% | -2.2% | +59.4% | +10.5% |
HCM leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
CAN leads this category, winning 2 of 4 comparable metrics.
Valuation Metrics
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| Market CapShares × price | $2.3B | $2.2B | $5.3B | $331M | $2.5B |
| Enterprise ValueMkt cap + debt − cash | $2.2B | $1.7B | $4.8B | $305M | $2.4B |
| Trailing P/EPrice ÷ TTM EPS | 60.50x | -12.35x | -8.87x | -1.14x | -7.54x |
| Forward P/EPrice ÷ next-FY EPS est. | 41.66x | — | 118.11x | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | — | — | — |
| Price / SalesMarket cap ÷ Revenue | 3.63x | 4.75x | 5.11x | 0.62x | 10.11x |
| Price / BookPrice ÷ Book value/share | 3.01x | 3.03x | 2.63x | 0.55x | 4.22x |
| Price / FCFMarket cap ÷ FCF | — | — | — | — | — |
CAN leads this category, winning 2 of 4 comparable metrics.
Profitability & Efficiency
HCM leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
HCM delivers a 46.4% return on equity — every $100 of shareholder capital generates $46 in annual profit, vs $-69 for RCUS. HCM carries lower financial leverage with a 0.12x debt-to-equity ratio, signaling a more conservative balance sheet compared to LEGN's 0.41x. On the Piotroski fundamental quality scale (0–9), CAN scores 6/9 vs RCUS's 0/9, reflecting solid financial health.
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +46.4% | -22.8% | -29.2% | -48.1% | -69.0% |
| ROA (TTM)Return on assets | +30.6% | -15.0% | -17.6% | -34.9% | -35.3% |
| ROICReturn on invested capital | -5.2% | -42.8% | -12.7% | -24.9% | -64.1% |
| ROCEReturn on capital employed | -4.9% | -27.9% | -11.0% | -29.7% | -42.1% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 3 | 2 | 6 | 0 |
| Debt / EquityFinancial leverage | 0.12x | 0.31x | 0.41x | 0.13x | 0.16x |
| Net DebtTotal debt minus cash | -$64M | -$455M | -$488M | -$26M | -$123M |
| Cash & Equiv.Liquid assets | $154M | $680M | $902M | $81M | $222M |
| Total DebtShort + long-term debt | $90M | $224M | $414M | $55M | $99M |
| Interest CoverageEBIT ÷ Interest expense | -15.22x | -33.25x | -12.69x | -104.52x | -13.38x |
HCM leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
RCUS leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in LEGN five years ago would be worth $9,997 today (with dividends reinvested), compared to $770 for CAN. Over the past 12 months, RCUS leads with a +209.6% total return vs ZLAB's -30.3%. The 3-year compound annual growth rate (CAGR) favors RCUS at 7.7% vs CAN's -40.9% — a key indicator of consistent wealth creation.
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | -2.5% | +14.1% | +32.8% | -33.1% | +6.5% |
| 1-Year ReturnPast 12 months | -8.8% | -30.3% | -9.2% | -14.1% | +209.6% |
| 3-Year ReturnCumulative with dividends | -14.2% | -46.6% | -58.4% | -79.3% | +24.9% |
| 5-Year ReturnCumulative with dividends | -49.3% | -87.5% | -0.0% | -92.3% | -18.6% |
| 10-Year ReturnCumulative with dividends | +1.0% | -29.2% | -22.8% | -90.1% | +45.9% |
| CAGR (3Y)Annualised 3-year return | -5.0% | -18.9% | -25.4% | -40.9% | +7.7% |
RCUS leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — HCM and RCUS each lead in 1 of 2 comparable metrics.
Risk & Volatility
HCM is the less volatile stock with a 0.66 beta — it tends to amplify market swings less than CAN's 4.41 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. RCUS currently trades 86.3% from its 52-week high vs CAN's 23.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.66x | 1.21x | 0.77x | 4.41x | 1.95x |
| 52-Week HighHighest price in past year | $19.50 | $44.34 | $45.30 | $2.22 | $28.72 |
| 52-Week LowLowest price in past year | $12.91 | $15.96 | $16.24 | $0.39 | $7.06 |
| % of 52W HighCurrent price vs 52-week peak | +68.3% | +44.6% | +63.1% | +23.2% | +86.3% |
| RSI (14)Momentum oscillator 0–100 | 37.1 | 47.7 | 77.4 | 58.4 | 60.5 |
| Avg Volume (50D)Average daily shares traded | 31K | 729K | 1.9M | 9.7M | 1.2M |
Evenly matched — HCM and RCUS each lead in 1 of 2 comparable metrics.
Analyst Outlook
CAN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: HCM as "Buy", ZLAB as "Buy", LEGN as "Buy", CAN as "Buy", RCUS as "Buy". Consensus price targets imply 336.9% upside for CAN (target: $2) vs 21.0% for RCUS (target: $30).
| Metric | HCMHUTCHMED (China) … | ZLABZai Lab Limited | LEGNLegend Biotech Co… | CANCanaan Inc. | RCUSArcus Biosciences… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $17.50 | $35.00 | $57.89 | $2.25 | $30.00 |
| # AnalystsCovering analysts | 10 | 11 | 19 | 6 | 18 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — | — |
| Dividend StreakConsecutive years of raises | 0 | — | — | 1 | — |
| Dividend / ShareAnnual DPS | — | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | 0.0% | 0.0% | 0.0% | 0.0% |
CAN leads this category, winning 1 of 1 comparable metric.
Key Takeaway
HCM leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). CAN leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
Best OverallHUTCHMED (China) Limited (HCM)Leads 2 of 6 categories
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HCM vs ZLAB vs LEGN vs CAN vs RCUS: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is HCM or ZLAB or LEGN or CAN or RCUS a better buy right now?
For growth investors, Canaan Inc.
(CAN) is the stronger pick with 96. 7% revenue growth year-over-year, versus -24. 8% for HUTCHMED (China) Limited (HCM). HUTCHMED (China) Limited (HCM) offers the better valuation at 60. 5x trailing P/E (41. 7x forward), making it the more compelling value choice. Analysts rate HUTCHMED (China) Limited (HCM) a "Buy" — based on 10 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — HCM or ZLAB or LEGN or CAN or RCUS?
On forward P/E, HUTCHMED (China) Limited is actually cheaper at 41.
7x.
03Which is the better long-term investment — HCM or ZLAB or LEGN or CAN or RCUS?
Over the past 5 years, Legend Biotech Corporation (LEGN) delivered a total return of -0.
0%, compared to -92. 3% for Canaan Inc. (CAN). Over 10 years, the gap is even starker: RCUS returned +45. 9% versus CAN's -90. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — HCM or ZLAB or LEGN or CAN or RCUS?
By beta (market sensitivity over 5 years), HUTCHMED (China) Limited (HCM) is the lower-risk stock at 0.
66β versus Canaan Inc. 's 4. 41β — meaning CAN is approximately 566% more volatile than HCM relative to the S&P 500. On balance sheet safety, HUTCHMED (China) Limited (HCM) carries a lower debt/equity ratio of 12% versus 41% for Legend Biotech Corporation — giving it more financial flexibility in a downturn.
05Which is growing faster — HCM or ZLAB or LEGN or CAN or RCUS?
By revenue growth (latest reported year), Canaan Inc.
(CAN) is pulling ahead at 96. 7% versus -24. 8% for HUTCHMED (China) Limited (HCM). On earnings-per-share growth, the picture is similar: Canaan Inc. grew EPS 51. 1% year-over-year, compared to -66. 0% for Legend Biotech Corporation. Over a 3-year CAGR, LEGN leads at 106. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — HCM or ZLAB or LEGN or CAN or RCUS?
HUTCHMED (China) Limited (HCM) is the more profitable company, earning 6.
0% net margin versus -142. 9% for Arcus Biosciences, Inc. — meaning it keeps 6. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HCM leads at -6. 9% versus -156. 3% for RCUS. At the gross margin level — before operating expenses — RCUS leads at 96. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is HCM or ZLAB or LEGN or CAN or RCUS more undervalued right now?
On forward earnings alone, HUTCHMED (China) Limited (HCM) trades at 41.
7x forward P/E versus 118. 1x for Legend Biotech Corporation — 76. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CAN: 336. 9% to $2. 25.
08Which pays a better dividend — HCM or ZLAB or LEGN or CAN or RCUS?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is HCM or ZLAB or LEGN or CAN or RCUS better for a retirement portfolio?
For long-horizon retirement investors, HUTCHMED (China) Limited (HCM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
66)). Canaan Inc. (CAN) carries a higher beta of 4. 41 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HCM: +1. 0%, CAN: -90. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between HCM and ZLAB and LEGN and CAN and RCUS?
These companies operate in different sectors (HCM (Healthcare) and ZLAB (Healthcare) and LEGN (Healthcare) and CAN (Technology) and RCUS (Healthcare)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: HCM is a small-cap quality compounder stock; ZLAB is a small-cap high-growth stock; LEGN is a small-cap high-growth stock; CAN is a small-cap high-growth stock; RCUS is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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