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BeOne Medicines Ltd. (ONC) 10-Year Financial Performance & Capital Metrics

ONC • • Industrial / General
HealthcarePharmaceuticalsBiopharmaceutical R&DOncology Therapeutics
AboutBeOne Medicines, formerly known as BeiGene, is a global oncology company focused on discovering, developing, and commercializing innovative cancer therapies. Founded in 2010 and headquartered in Cambridge, Massachusetts—with operations spanning over 45 countries across six continents—the company rebranded as BeOne in late 2024 and redomiciled to Basel, Switzerland in 2025. BeOne has established itself as a leader in immuno-oncology and targeted therapies, with key assets including Tevimbra (tislelizumab), a PD-1 monoclonal antibody approved for multiple cancer indications globally, and Brukinsa (zanubrutinib), a Bruton's tyrosine kinase (BTK) inhibitor that surpassed $1.3 billion in annual sales and is approved in major markets such as the U.S., Europe, and China. The company’s strategy combines internal R&D with the development of assets sourced from external partnerships, driving a robust pipeline across hematologic malignancies and solid tumors.Show more
  • Revenue $3.81B +55.0%
  • EBITDA -$396M +64.6%
  • Net Income -$645M +26.9%
  • EPS (Diluted) -6.12 +27.6%
  • Gross Margin 84.41% -0.2%
  • EBITDA Margin -10.4% +77.2%
  • Operating Margin -14.91% +69.6%
  • Net Margin -16.92% +52.8%
  • ROE -18.77% +15.7%
  • ROIC -27.67% +63.3%
  • Debt/Equity 0.32 +23.2%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 54.8%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Expensive at 10.7x book value

* 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

10Y76.43%
5Y54.83%
3Y47.96%
TTM49.92%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM107.97%

EPS CAGR

10Y-
5Y-
3Y-
TTM144.91%

ROCE

10Y Avg-42.13%
5Y Avg-30.82%
3Y Avg-24.03%
Latest-14.76%

Peer Comparison

Oncology Therapeutics
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Quality & Returns
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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+8.82M1.07M238.39M198.22M428.21M308.87M1.18B1.42B2.46B3.81B
Revenue Growth %-0.32%-0.88%221.79%-0.17%1.16%-0.28%2.81%0.2%0.74%0.55%
Cost of Goods Sold+58.25M98.03M273.99M707.71M71.19M70.66M164.91M286.48M379.92M594.09M
COGS % of Revenue6.61%91.62%1.15%3.57%0.17%0.23%0.14%0.2%0.15%0.16%
Gross Profit+-49.43M-96.96M-35.6M-509.49M357.02M238.22M1.01B1.13B2.08B3.22B
Gross Margin %-5.61%-90.62%-0.15%-2.57%0.83%0.77%0.86%0.8%0.85%0.84%
Gross Profit Growth %-4.6%-0.96%0.63%-13.31%1.7%-0.33%3.25%0.12%0.84%0.55%
Operating Expenses+7.31M20.1M62.85M196.28M1.32B1.9B2.45B2.92B3.29B3.78B
OpEx % of Revenue0.83%18.78%0.26%0.99%3.08%6.14%2.08%2.06%1.34%0.99%
Selling, General & Admin7.31M20.1M62.6M195.38M388.25M600.18M990.12M1.28B1.51B1.83B
SG&A % of Revenue0.83%18.78%0.26%0.99%0.91%1.94%0.84%0.9%0.61%0.48%
Research & Development58.25M98.03M269.02M679M927.34M1.29B1.46B1.64B1.78B1.95B
R&D % of Revenue6.61%91.62%1.13%3.43%2.17%4.19%1.24%1.16%0.72%0.51%
Other Operating Expenses-916K-2.49M11.46M1.99M1.33M846K750K000
Operating Income+-56.74M-117.06M-98.46M-705.77M-959.89M-1.66B-1.44B-1.79B-1.21B-568.2M
Operating Margin %-6.44%-109.4%-0.41%-3.56%-2.24%-5.37%-1.22%-1.26%-0.49%-0.15%
Operating Income Growth %-2.6%-1.06%0.16%-6.17%-0.36%-0.73%0.13%-0.24%0.33%0.53%
EBITDA+-55.2M-115.15M-93.7M-695.38M-941.27M-1.63B-1.39B-1.72B-1.12B-396.44M
EBITDA Margin %-6.26%-107.62%-0.39%-3.51%-2.2%-5.26%-1.18%-1.22%-0.46%-0.1%
EBITDA Growth %-2.89%-1.09%0.19%-6.42%-0.35%-0.73%0.14%-0.24%0.35%0.65%
D&A (Non-Cash Add-back)1.54M1.91M4.76M10.39M18.62M31.79M46.46M66.28M87.67M171.76M
EBIT-56.74M-117.06M-98.46M-705.77M-959.89M-1.66B-1.44B-1.79B-1.21B-568.2M
Net Interest Income+559K383K-4.11M13.95M9.13M2M15.76M52.48M74.01M47.84M
Interest Income559K0013.95M9.13M2M15.76M52.48M74.01M47.84M
Interest Expense0383K4.11M0000000
Other Income/Expense-357K-2.1M7.39M15.94M16.3M39.49M147K-171.37M381.9M35.2M
Pretax Income+-57.1M-119.16M-91.06M-689.83M-943.59M-1.62B-1.44B-1.96B-825.84M-533M
Pretax Margin %-6.48%-111.37%-0.38%-3.48%-2.2%-5.24%-1.22%-1.38%-0.34%-0.14%
Income Tax+054K2.23M-15.8M6.99M10.4M19.23M42.78M55.87M111.78M
Effective Tax Rate %1%1%1.02%0.98%1.01%1%1.01%1.02%1.07%1.21%
Net Income+-57.1M-119.22M-93.11M-673.77M-948.63M-1.62B-1.46B-2B-881.71M-644.79M
Net Margin %-6.48%-111.42%-0.39%-3.4%-2.22%-5.26%-1.24%-1.42%-0.36%-0.17%
Net Income Growth %-2.12%-1.09%0.22%-6.24%-0.41%-0.71%0.1%-0.37%0.56%0.27%
Net Income (Continuing)-57.1M-119.22M-93.3M-674.03M-950.58M-1.63B-1.46B-2B-881.71M-644.79M
Discontinued Operations0000000000
Minority Interest0014.42M14.45M16.15M00000
EPS (Diluted)+-1.82-3.90-2.21-12.09-15.86-19.11-15.21-19.37-8.45-6.12
EPS Growth %-4.2%-1.14%0.43%-4.47%-0.31%-0.2%0.2%-0.27%0.56%0.28%
EPS (Basic)-1.82-3.90-2.21-12.09-15.86-19.11-15.21-19.37-8.45-6.12
Diluted Shares Outstanding31.52M31.05M41.78M55.44M60.05M83.47M92.79M103.13M104.39M105.29M
Basic Shares Outstanding31.52M31.05M41.78M55.44M60.05M83.47M92.79M103.13M104.39M105.29M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+106.27M374.4M913.5M1.94B1.17B4.96B7.61B5.21B4.2B3.99B
Cash & Short-Term Investments100.49M368.17M837.52M1.81B982.74M4.65B6.62B4.53B3.17B2.63B
Cash Only17.87M87.51M239.6M712.94M618.01M1.38B4.38B3.87B3.17B2.63B
Short-Term Investments82.62M280.66M597.91M1.07B364.73M3.27B2.24B665.25M2.6M0
Accounts Receivable0029.43M49.67M70.88M79.67M500.18M198.98M395.89M709.11M
Days Sales Outstanding--45.0691.4660.4294.15155.251.2958.7767.93
Inventory0010.93M16.24M28.55M89.29M242.63M282.35M416.12M494.99M
Days Inventory Outstanding--14.568.38146.39461.27537.02359.74399.78304.11
Other Current Assets0025.73M86.01M76.49M307K328K196K56.25M25.19M
Total Non-Current Assets+10.49M31.41M132.98M305.84M439.59M640.07M921.64M1.17B1.6B1.93B
Property, Plant & Equipment6.61M25.98M62.57M194.24M324.92M446.3M662.51M923.98M1.37B1.66B
Fixed Asset Turnover1.33x0.04x3.81x1.02x1.32x0.69x1.78x1.53x1.79x2.30x
Goodwill00109K109K109K109K109K000
Intangible Assets0019.71M52.23M5.85M53.73M103.35M94.57M108.86M129.76M
Long-Term Investments00016.49M049.34M100.79M91.78M89.64M128.93M
Other Non-Current Assets3.88M4.67M42.91M13.23M108.72M24.62M-55.53M61.89M31.57M13.38M
Total Assets+116.76M405.81M1.05B2.25B1.61B5.6B8.54B6.38B5.81B5.92B
Asset Turnover0.08x0.00x0.23x0.09x0.27x0.06x0.14x0.22x0.42x0.64x
Asset Growth %1.18%2.48%1.58%1.15%-0.28%2.47%0.52%-0.25%-0.09%0.02%
Total Current Liabilities+35.17M35.06M149.99M246.45M310.31M1.08B1.6B1.47B1.81B2.21B
Accounts Payable8.98M11.96M69.78M113.28M122.49M231.96M262.4M294.78M315.11M405M
Days Payables Outstanding56.2744.5292.9658.43628.011.2K580.79375.58302.74248.82
Short-Term Debt14.6M09.22M8.73M0335.01M427.56M328.97M688.37M851.53M
Deferred Revenue (Current)1000K01000K1000K001000K1000K00
Other Current Liabilities5.87M804K31.22M49.22M56.86M234.57M260.77M299.11M285.81M359.5M
Current Ratio3.02x10.68x6.09x7.89x3.78x4.61x4.76x3.55x2.32x1.80x
Quick Ratio3.02x10.68x6.02x7.82x3.69x4.53x4.61x3.35x2.09x1.58x
Cash Conversion Cycle---33.3441.41-421.2-642.82111.4435.45155.81123.22
Total Non-Current Liabilities+7.27M17.85M212.26M249.59M323.62M656.32M803.41M527.41M457.83M373.79M
Long-Term Debt6.19M17.28M155.49M189.67M240.69M183.64M202.11M209.15M197.62M166.48M
Capital Lease Obligations000025.83M29.42M43.04M34.52M22.25M44.28M
Deferred Tax Liabilities0-564K011.14M010.79M14.17M16M16.49M42.01M
Other Non-Current Liabilities1.08M056.77M59.91M57.09M383.33M277.44M187.54M187.27M90.7M
Total Liabilities116.76M405.81M362.25M496.04M633.93M1.73B2.4B2B2.27B2.59B
Total Debt+20.79M17.28M164.72M198.4M277.34M561.96M694.64M596.67M930.18M1.08B
Net Debt2.92M-70.23M-74.89M-514.54M-340.67M-819.99M-3.68B-3.27B-2.24B-1.55B
Debt / Equity-0.05x0.24x0.11x0.28x0.15x0.11x0.14x0.26x0.32x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage--305.64x-23.97x-------
Total Equity+-101.77M352.91M698.65M1.77B978.35M3.87B6.13B4.38B3.54B3.33B
Equity Growth %-4.95%4.47%0.98%1.53%-0.45%2.95%0.58%-0.29%-0.19%-0.06%
Book Value per Share-3.2311.3716.7231.8916.2946.3566.0942.5033.8931.65
Total Shareholders' Equity-101.77M352.91M684.23M1.75B962.21M3.87B6.13B4.38B3.54B3.33B
Common Stock12K52K59K77K79K118K133K135K135K138K
Retained Earnings-118.19M-237.41M-330.52M-1.01B-1.96B-3.55B-5.08B-7.08B-7.96B-8.61B
Treasury Stock0000000000
Accumulated OCI-1.81M-946K-480K1.53M-8M6.94M17.95M-77.42M-99.45M-148.99M
Minority Interest0014.42M14.45M16.15M00000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-39.84M-89.51M12.75M-547.72M-750.27M-1.28B-1.3B-1.5B-1.16B-140.63M
Operating CF Margin %-4.52%-83.66%0.05%-2.76%-1.75%-4.16%-1.1%-1.06%-0.47%-0.04%
Operating CF Growth %-3.58%-1.25%1.14%-43.95%-0.37%-0.71%-0.01%-0.15%0.23%0.88%
Net Income-57.1M-119.22M-93.3M-674.03M-950.58M-1.6B-1.41B-2B-881.71M-644.79M
Depreciation & Amortization1.54M1.91M4.76M10.39M18.62M31.79M46.46M66.28M87.67M171.76M
Stock-Based Compensation10.21M10.63M42.86M87.13M134.15M183.48M240.71M303.16M367.62M441.62M
Deferred Taxes2.15M2.93M-5.84M-21.95M-9.23M-27.81M-41.09M2.06M689K25.98M
Other Non-Cash Items1.09M121K7.08M67.96M67.6M-20.98M-13.11M3.31M-361.19M21.96M
Working Capital Changes2.26M14.12M57.2M-17.21M-10.83M150.58M-118.34M132.39M-370.54M-157.17M
Change in Receivables00-29.43M-11.63M-29.82M10.36M-423.02M304.11M-188.31M-329.44M
Change in Inventory00-10.93M-5.31M-12.31M-58.91M-153.33M-56.69M-140.95M-91.5M
Change in Payables6.19M2.71M55.3M23.47M2.22M95.83M20.01M-4.35M21.48M121.5M
Cash from Investing+-58.91M-221.85M-356.32M-637.61M554.16M-3.17B640.66M1.08B60M-548.35M
Capital Expenditures-5.31M-23.5M-58.73M-140.84M-158.61M-229.03M-314.85M-469.1M-561.9M-492.66M
CapEx % of Revenue0.6%21.96%0.25%0.71%0.37%0.74%0.27%0.33%0.23%0.13%
Acquisitions----------
Investments----------
Other Investing1K4K-329.86M-108.85M-69M-109.5M-51.91M1.4B-36.44M-39.34M
Cash from Financing+103.2M380.9M490.36M1.69B85.68M5.2B3.64B-18.97M416.48M193.45M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing77K-23K18.48M29.66M51M681.21M92.76M46.96M55.71M48.37M
Net Change in Cash----------
Free Cash Flow+-45.16M-113.02M-45.98M-688.55M-908.88M-1.51B-1.61B-1.97B-1.75B-669.77M
FCF Margin %-5.12%-105.62%-0.19%-3.47%-2.12%-4.9%-1.37%-1.39%-0.71%-0.18%
FCF Growth %-3.83%-1.5%0.59%-13.98%-0.32%-0.66%-0.07%-0.22%0.11%0.62%
FCF per Share-1.43-3.64-1.10-12.42-15.13-18.12-17.39-19.06-16.80-6.36
FCF Conversion (FCF/Net Income)0.70x0.75x-0.14x0.81x0.79x0.79x0.89x0.75x1.31x0.22x
Interest Paid0826K1.26M2.21M4.32M44.13M29.97M25.17M19.75M51.17M
Taxes Paid025K29.29M12K8.98M10.6M15.7M29.5M56M69.43M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)--94.94%-17.71%-54.63%-69.08%-67.04%-29.15%-38.11%-22.26%-18.77%
Return on Invested Capital (ROIC)--95.52%-16.29%-56.39%-76.13%-67.44%-39.23%-75.37%-75.29%-27.67%
Gross Margin-560.73%-9061.96%-14.94%-257.03%83.38%77.12%85.98%79.77%84.55%84.41%
Net Margin-647.71%-11141.78%-39.06%-339.91%-221.53%-526.1%-123.93%-141.52%-35.86%-16.92%
Debt / Equity-0.05x0.24x0.11x0.28x0.15x0.11x0.14x0.26x0.32x
Interest Coverage--305.64x-23.97x-------
FCF Conversion0.70x0.75x-0.14x0.81x0.79x0.79x0.89x0.75x1.31x0.22x
Revenue Growth-32.37%-87.86%22179.16%-16.85%116.03%-27.87%280.83%20.37%73.65%54.96%

Frequently Asked Questions

Growth & Financials

BeOne Medicines Ltd. (ONC) reported $4.97B in revenue for fiscal year 2024. This represents a 44506% increase from $11.1M in 2013.

BeOne Medicines Ltd. (ONC) grew revenue by 55.0% over the past year. This is strong growth.

Yes, BeOne Medicines Ltd. (ONC) is profitable, generating $68.5M in net income for fiscal year 2024 (-16.9% net margin).

Dividend & Returns

BeOne Medicines Ltd. (ONC) has a return on equity (ROE) of -18.8%. Negative ROE indicates the company is unprofitable.

BeOne Medicines Ltd. (ONC) generated $464.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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