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HUTCHMED (China) Limited (HCM) 10-Year Financial Performance & Capital Metrics

HCM • • Industrial / General
HealthcareSpecialty & Generic PharmaSpecialty PharmaceuticalsOncology Therapeutics
AboutHUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors. It also develops Surufatinib, an inhibitor for neuroendocrine tumors (NET), pancreatic NET, non-pancreatic NET, biliary tract cancer, sarcoma, neuroendocrine neoplasm, esophageal cancer, small cell lung cancer, GC, thyroid cancer, EMC, NSCLC, and solid tumors; HMPL-523, a spleen tyrosine kinase inhibitor for hematological cancers and certain chronic immune diseases; and HMPL-689 for isoform PI3Kd (phosphoinositide 3'-kinase delta). In addition, it develops Tazemetostat, an inhibitor of EZH2 for the treatment of certain epithelioid sarcoma and follicular lymphoma patients; HMPL-306, an inhibitor for hematological malignancies, gliomas, and solid tumors; HMPL-760, an Bruton's tyrosine kinase inhibitor; HMPL-453, an inhibitor for intrahepatic cholangiocarcinoma; HMPL-295 for solid tumors; HMPL-653 for metastatic solid tumors and tenosynovial giant cell tumors; and Epitinib (HMPL-813) and Theliatinib (HMPL-309) inhibitors. It has collaboration agreements with AstraZeneca AB (publ), Lilly (Shanghai) Management Company Limited, BeiGene, Inmagene Biopharmaceuticals Co. Ltd., Innovent Biologics Co., Inc., Genor Biopharma Co. Ltd., Shanghai Junshi Biosciences Co. Ltd., and Epizyme, Inc. The company was formerly known as Hutchison China MediTech Limited and changed its name to HUTCHMED (China) Limited in May 2021. The company was incorporated in 2000 and is headquartered in Central, Hong Kong.Show more
  • Revenue $630M -24.8%
  • EBITDA -$31M -218.0%
  • Net Income $38M -62.6%
  • EPS (Diluted) 0.22 -63.3%
  • Gross Margin 44.64% -17.5%
  • EBITDA Margin -4.98% -256.9%
  • Operating Margin -6.94% -416.3%
  • Net Margin 5.99% -50.2%
  • ROE 4.98% -65.9%
  • ROIC -5.23% -270.1%
  • Debt/Equity 0.12 +0.4%
  • Interest Coverage -15.22 -162.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 25.2%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y21.24%
5Y25.2%
3Y20.96%
TTM-1.41%

Profit (Net Income) CAGR

10Y21.52%
5Y-
3Y-
TTM1212.42%

EPS CAGR

10Y15.74%
5Y-
3Y-
TTM1151.59%

ROCE

10Y Avg-23.59%
5Y Avg-27.07%
3Y Avg-16.58%
Latest-4.93%

Peer Comparison

Oncology Therapeutics
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
HCMHUTCHMED (China) Limited2.63B15.3169.59-24.8%77.53%37.59%0.12
SHPHShuttle Pharmaceuticals Holdings, Inc.2.85M1.48-0.00-7.68%1.65
BGMSBio Green Med Solution, Inc.7.01M1.43-0.00-89.76%-67.15%-76.65%
SBFMSunshine Biopharma, Inc.5.99M1.22-0.1744.75%-17.35%-24.55%0.04
RNTXRein Therapeutics Inc.30.49M1.16-0.33-127.48%
CGEMCullinan Therapeutics, Inc.629.75M10.66-3.43-48.03%0.00
ONCBeOne Medicines Ltd.34.44B338.29-55.2854.96%1.38%1.66%0.32

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+178.2M216.08M241.2M214.11M204.89M227.98M356.13M426.41M838M630.2M
Revenue Growth %0.94%0.21%0.12%-0.11%-0.04%0.11%0.56%0.2%0.97%-0.25%
Cost of Goods Sold+110.78M156.33M175.82M143.94M160.15M188.52M258.23M311.1M384.45M348.88M
COGS % of Revenue0.62%0.72%0.73%0.67%0.78%0.83%0.73%0.73%0.46%0.55%
Gross Profit+67.43M59.75M65.38M70.17M44.74M39.46M97.89M115.31M453.55M281.32M
Gross Margin %0.38%0.28%0.27%0.33%0.22%0.17%0.27%0.27%0.54%0.45%
Gross Profit Growth %2.41%-0.11%0.09%0.07%-0.36%-0.12%1.48%0.18%2.93%-0.38%
Operating Expenses+77.2M106.59M118.8M161.01M189.76M236.13M426.21M523M436.23M321.93M
OpEx % of Revenue0.43%0.49%0.49%0.75%0.93%1.04%1.2%1.23%0.52%0.51%
Selling, General & Admin29.83M39.58M43.28M48.65M52.93M61.35M127.13M136.11M133.18M112.91M
SG&A % of Revenue0.17%0.18%0.18%0.23%0.26%0.27%0.36%0.32%0.16%0.18%
Research & Development47.37M66.87M50.67M78.82M91.94M111.23M207.45M267.59M303.06M213.37M
R&D % of Revenue0.27%0.31%0.21%0.37%0.45%0.49%0.58%0.63%0.36%0.34%
Other Operating Expenses184K609K116K-781K44.88M63.54M91.64M119.31M0-4.35M
Operating Income+-9.77M-46.7M-53.42M-92.64M-145.02M-198.62M-344.29M-409.77M18.38M-43.7M
Operating Margin %-0.05%-0.22%-0.22%-0.43%-0.71%-0.87%-0.97%-0.96%0.02%-0.07%
Operating Income Growth %-2.21%-3.78%-0.14%-0.73%-0.57%-0.37%-0.73%-0.19%1.04%-3.38%
EBITDA+-7.76M-44.39M-50.84M-89.05M-140.08M-192.56M-337.1M-401.11M26.58M-31.36M
EBITDA Margin %-0.04%-0.21%-0.21%-0.42%-0.68%-0.84%-0.95%-0.94%0.03%-0.05%
EBITDA Growth %-1.83%-4.72%-0.15%-0.75%-0.57%-0.37%-0.75%-0.19%1.07%-2.18%
D&A (Non-Cash Add-back)2.02M2.3M2.58M3.59M4.94M6.06M7.19M8.66M8.21M12.34M
EBIT-9.14M-45.7M-52.08M-85.65M-140.07M-188.95M-215.15M-409.77M59.07M1.76M
Net Interest Income+-953K-1.13M-235K4.97M3.91M2.45M1.48M8.95M35.39M37.21M
Interest Income451K502K1.22M5.98M4.94M3.24M2.08M9.6M36.15M40.08M
Interest Expense1.4M1.63M1.46M1.01M1.03M787K592K652K759K2.87M
Other Income/Expense-767.49K-659K-119K5.99M5.28M87.74M188.96M51.52M87.23M89.07M
Pretax Income+-10.54M-47.36M-53.54M-86.66M-141.1M-110.88M-155.33M-360.24M105.6M45.36M
Pretax Margin %-0.06%-0.22%-0.22%-0.4%-0.69%-0.49%-0.44%-0.84%0.13%0.07%
Income Tax+1.6M4.33M3.08M3.96M3.27M4.83M11.92M-283K4.51M7.19M
Effective Tax Rate %-0.76%-0.25%0.5%0.86%0.73%1.13%1.25%1%0.95%0.83%
Net Income+7.99M11.7M-26.74M-74.81M-103.68M-125.73M-194.65M-360.83M100.78M37.73M
Net Margin %0.04%0.05%-0.11%-0.35%-0.51%-0.55%-0.55%-0.85%0.12%0.06%
Net Income Growth %0.49%0.46%-3.29%-1.8%-0.39%-0.21%-0.55%-0.85%1.28%-0.63%
Net Income (Continuing)10.43M-51.66M-22.96M-71.29M-103.68M-115.52M-167.04M-360.39M101.09M38.17M
Discontinued Operations0000000000
Minority Interest18.92M19.79M23.23M23.26M24.89M34.83M52.62M26.5M12.85M11.92M
EPS (Diluted)+-0.320.10-0.22-0.55-1.10-0.90-1.25-2.150.600.22
EPS Growth %-7.27%1.31%-3.2%-1.5%-1%0.18%-0.39%-0.72%1.28%-0.63%
EPS (Basic)-0.320.10-0.22-0.55-1.10-0.90-1.25-2.150.600.22
Diluted Shares Outstanding109.32M119.94M123.43M132.85M133.14M139.59M158.54M169.43M173.84M174.57M
Basic Shares Outstanding109.32M119.43M123.43M132.85M133.14M139.59M158.54M169.43M169.93M171.07M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+89.67M167.38M432.19M370.54M317.02M530.74M1.21B839.89M1.1B1.07B
Cash & Short-Term Investments31.94M103.7M358.3M300.95M217.17M435.18M1.01B631M886.34M836.11M
Cash Only31.94M79.43M85.27M86.04M121.16M235.63M377.54M313.28M283.59M153.96M
Short-Term Investments024.27M273.03M214.91M96.01M199.55M634.16M317.72M602.75M682.15M
Accounts Receivable45.82M48.93M62.11M43.85M77.17M47.87M147.73M126.72M150.46M167.74M
Days Sales Outstanding93.8482.6593.9974.75137.4876.64151.41108.4765.5397.15
Inventory9.55M12.82M11.79M12.31M16.21M19.77M35.76M56.69M50.26M50.4M
Days Inventory Outstanding31.4829.9424.4731.2136.9438.2750.5466.5147.7252.73
Other Current Assets559K610K19.84M8.33M2.71M20.89M2.76M3.15M2.68M3.3M
Total Non-Current Assets+140.09M175.06M165.74M161.58M148.1M193.38M160.59M189.56M182.93M207.64M
Property, Plant & Equipment9.85M11.17M15.48M17.79M27.48M45.31M66.32M84.67M104.39M97M
Fixed Asset Turnover18.09x19.34x15.58x12.04x7.46x5.03x5.37x5.04x8.03x6.50x
Goodwill3.33M3.14M3.31M3.19M3.11M3.31M3.38M3.14M3.06M2.99M
Intangible Assets571K469K430K347K275K227K163K3.22M21K0
Long-Term Investments119.76M158.51M144.24M-76.6M2.93M-60.04M-557.68M-243.94M48.41M-599.39M
Other Non-Current Assets6.58M1.77M1.65M216.27M113.48M203.06M639M327.1M11.59M707.04M
Total Assets+229.75M342.44M597.93M532.12M465.12M724.12M1.37B1.03B1.28B1.27B
Asset Turnover0.78x0.63x0.40x0.40x0.44x0.31x0.26x0.41x0.65x0.49x
Asset Growth %0.05%0.49%0.75%-0.11%-0.13%0.56%0.9%-0.25%0.24%-0%
Total Current Liabilities+81.06M95.12M104.6M85.48M113.1M158.4M311.66M353.9M403.03M376.56M
Accounts Payable24.09M35.54M24.36M25.63M23.96M31.61M41.18M71.11M36.33M42.52M
Days Payables Outstanding79.3682.9850.5864.9854.6161.2158.283.4434.4944.49
Short-Term Debt27.4M19.96M29.99M432K366K3.19M26.91M031.16M23.37M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Liabilities22.13M9.31M37.4M48.17M8.09M-76K40.95M41.1M228.93M290.08M
Current Ratio1.11x1.76x4.13x4.33x2.80x3.35x3.89x2.37x2.72x2.83x
Quick Ratio0.99x1.62x4.02x4.19x2.66x3.23x3.77x2.21x2.60x2.70x
Cash Conversion Cycle45.9729.6167.8840.98119.8153.71143.7591.5578.76105.4
Total Non-Current Liabilities+46.41M43.26M8.37M34.38M39.12M46.77M21.49M38.67M133.36M125.78M
Long-Term Debt26.77M26.83M579K26.74M26.82M26.86M018.1M48.19M59.43M
Capital Lease Obligations9.15M00579K3.05M6.06M7.16M5.2M2.86M4.09M
Deferred Tax Liabilities3.42M4M4.45M4.84M3.16M5.06M2.77M2.71M1.48M2.99M
Other Non-Current Liabilities10.6M13.03M538K859K5.96M8.3M14.33M12.47M11.35M10.84M
Total Liabilities127.48M138.38M112.97M119.86M152.22M205.17M333.15M392.57M536.39M502.34M
Total Debt+50M46.79M29.99M26.74M33.45M38.9M38.98M27.01M86.13M89.82M
Net Debt18.06M-32.64M-55.28M-59.3M-87.71M-196.73M-338.56M-289.98M-197.46M-64.14M
Debt / Equity0.49x0.23x0.06x0.06x0.11x0.07x0.04x0.04x0.12x0.12x
Debt / EBITDA--------3.24x-
Net Debt / EBITDA---------7.43x-
Interest Coverage-6.96x-28.63x-36.71x-91.81x-140.80x-252.37x-581.57x-628.48x24.21x-15.22x
Total Equity+102.28M204.06M484.97M412.25M312.9M518.95M1.04B636.87M743.39M771.85M
Equity Growth %-0.15%1%1.38%-0.15%-0.24%0.66%1%-0.39%0.17%0.04%
Book Value per Share0.941.703.933.102.353.726.563.764.284.42
Total Shareholders' Equity83.36M184.27M461.73M389M288.01M484.12M986.89M610.37M730.54M759.93M
Common Stock56.53M60.71M66.45M66.66M66.69M72.77M86.45M86.48M87.13M87.16M
Retained Earnings-92.04M-80.36M-107.1M-183M-289.73M-415.59M-610.33M-971.48M-870.87M-833.17M
Treasury Stock0000000000
Accumulated OCI5.01M-4.28M5.43M-243K-3.85M4.48M5.57M-1.9M-8.16M-11.59M
Minority Interest18.92M19.79M23.23M23.26M24.89M34.83M52.62M26.5M12.85M11.92M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-9.38M-9.57M-8.94M-32.85M-80.91M-62.07M-204.22M-268.6M219.26M497K
Operating CF Margin %-0.05%-0.04%-0.04%-0.15%-0.39%-0.27%-0.57%-0.63%0.26%0%
Operating CF Growth %-1.7%-0.02%0.07%-2.67%-1.46%0.23%-2.29%-0.32%1.82%-1%
Net Income10.43M14.56M-22.96M-71.29M-103.68M-115.52M-167.04M-360.39M100.78M37.73M
Depreciation & Amortization2.02M2.34M2.58M3.59M4.94M6.06M7.19M8.66M8.21M12.34M
Stock-Based Compensation1.46M3.44M4.74M10.13M11.59M19.64M41.99M30.59M36.6M21.61M
Deferred Taxes-15.56M-33.22M20.82M17.68M-10.27M552K-115.14M0-102.76M0
Other Non-Cash Items2.5M92K147K76K394K-2.08M-3.68M-6.17M105.28M-9.01M
Working Capital Changes-10.23M3.22M-14.26M6.96M16.11M29.27M32.46M58.7M71.15M-62.17M
Change in Receivables-12.03M-7.26M2.74M-459K-553K-4.69M-35.63M-14.45M-21.34M-41.57M
Change in Inventory-5.15M-3.43M1.05M-557K-4.21M-3.62M-16M-21.21M4.13M-772K
Change in Payables3.66M9.82M-11.17M1.26M-1.66M7.65M9.56M29.94M-32.54M6.2M
Cash from Investing+8.86M-33.6M-260.78M43.75M119.03M-125.44M-306.32M296.59M-291.14M-96.06M
Capital Expenditures-3.32M-4.33M-5.02M-6.36M-8.56M-19.58M-16.76M-36.66M-32.61M-17.93M
CapEx % of Revenue0.02%0.02%0.02%0.03%0.04%0.09%0.05%0.09%0.04%0.03%
Acquisitions----------
Investments----------
Other Investing-12.18M-29.27M-255.76M50.12M0-2.33M930K16.49M01.28M
Cash from Financing+-5.47M92.44M273.2M-8.23M-1.49M296.43M650.03M-82.76M48.66M-30.67M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid000000-99.74M-87.44M00
Share Repurchases----------
Other Financing-480K-14.47M-1.59M-3.57M-965K-9.63M60.34M61.75M-9.07M-1M
Net Change in Cash----------
Free Cash Flow+-12.71M-13.9M-13.96M-39.21M-89.48M-81.65M-220.98M-305.26M186.65M-17.44M
FCF Margin %-0.07%-0.06%-0.06%-0.18%-0.44%-0.36%-0.62%-0.72%0.22%-0.03%
FCF Growth %-2.32%-0.09%-0%-1.81%-1.28%0.09%-1.71%-0.38%1.61%-1.09%
FCF per Share-0.12-0.12-0.11-0.30-0.67-0.58-1.39-1.801.07-0.10
FCF Conversion (FCF/Net Income)-1.17x-0.82x0.33x0.44x0.78x0.49x1.05x0.74x2.18x0.01x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)7.2%7.64%-7.76%-16.67%-28.59%-30.23%-24.98%-43.05%14.6%4.98%
Return on Invested Capital (ROIC)-6.05%-24.01%-13.33%-17.76%-37.62%-54.42%-50.47%-58.45%3.07%-5.23%
Gross Margin37.84%27.65%27.11%32.77%21.84%17.31%27.49%27.04%54.12%44.64%
Net Margin4.49%5.41%-11.08%-34.94%-50.6%-55.15%-54.66%-84.62%12.03%5.99%
Debt / Equity0.49x0.23x0.06x0.06x0.11x0.07x0.04x0.04x0.12x0.12x
Interest Coverage-6.96x-28.63x-36.71x-91.81x-140.80x-252.37x-581.57x-628.48x24.21x-15.22x
FCF Conversion-1.17x-0.82x0.33x0.44x0.78x0.49x1.05x0.74x2.18x0.01x
Revenue Growth94.09%21.25%11.63%-11.23%-4.31%11.27%56.21%19.73%96.52%-24.8%

Revenue by Segment

201820192020202120222023
Other Collaboration Licensing Revenue12.13M--23.66M14.95M278.86M
Other Collaboration Licensing Revenue Growth-----36.80%1764.75%
Collaboration Research And Development17.68M15.53M9.77M19M23.74M80.4M
Collaboration Research And Development Growth--12.15%-37.09%94.40%24.99%238.64%
Commercialization Services11.66M2.58M3.73M27.43M41.27M48.61M
Commercialization Services Growth--77.84%44.50%634.55%50.48%17.77%
Other Collaboration Royalties Revenue261K2.65M4.89M15.06M26.31M32.47M
Other Collaboration Royalties Revenue Growth-916.48%84.32%208.06%74.65%23.41%
Research And Development Services7.83M494K491K525K507K481K
Research And Development Services Growth--93.69%-0.61%6.92%-3.43%-5.13%
Goods---266.2M314.33M-
Goods Growth----18.08%-
Product156.23M175.99M203.61M---
Product Growth-12.65%15.69%---

Frequently Asked Questions

Valuation & Price

HUTCHMED (China) Limited (HCM) has a price-to-earnings (P/E) ratio of 69.6x. This suggests investors expect higher future growth.

Growth & Financials

HUTCHMED (China) Limited (HCM) reported $602.2M in revenue for fiscal year 2024. This represents a 261% increase from $166.9M in 2011.

HUTCHMED (China) Limited (HCM) saw revenue decline by 24.8% over the past year.

Yes, HUTCHMED (China) Limited (HCM) is profitable, generating $466.9M in net income for fiscal year 2024 (6.0% net margin).

Dividend & Returns

HUTCHMED (China) Limited (HCM) has a return on equity (ROE) of 5.0%. This is below average, suggesting room for improvement.

HUTCHMED (China) Limited (HCM) had negative free cash flow of $49.7M in fiscal year 2024, likely due to heavy capital investments.

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