HUTCHMED (China) Limited (HCM) Financial Ratios
20 years of historical data (2005–2024) · Healthcare · Drug Manufacturers - Specialty & Generic
EV/EBITDA
N/A
—
5yr avg: 111.01
P/FCF
N/A
—
5yr avg: 16.87
30Y Low16.9·High16.9
P/B Ratio
↓
3.04
↓-40% vs avg
5yr avg: 5.08
30Y Low3.3·High10.7
ROE
↑
5.0%
↓+132% vs avg
5yr avg: -15.7%
30Y Low-43%·High15%
Debt/EBITDA
N/A
—
5yr avg: 3.24
30Y Low2.4·High10.3
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HCM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
HUTCHMED (China) Limited trades at 61.0x earnings, 28% above its 5-year average of 47.8x, sitting at the 33rd percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 176%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $2.5B | $3.1B | $2.5B | $5.6B | $4.5B | $3.3B | $3.1B | $4.9B | $1.6B | — |
| Enterprise Value | $2.2B | $2.5B | $3.0B | $2.2B | $5.2B | $4.3B | $3.3B | $3.0B | $4.8B | $1.6B | — |
| P/E Ratio → | 61.05 | 65.50 | 30.18 | — | — | — | — | — | — | 135.70 | — |
| P/S Ratio | 3.66 | 3.99 | 3.76 | 5.87 | 15.62 | 19.61 | 16.29 | 14.33 | 20.17 | 7.53 | — |
| P/B Ratio | 3.04 | 3.26 | 4.23 | 3.93 | 5.35 | 8.61 | 10.67 | 7.44 | 10.03 | 7.98 | — |
| P/FCF | — | — | 16.87 | — | — | — | — | — | — | — | — |
| P/OCF | 4645.20 | 5061.35 | 14.36 | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
HCM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.89 | 3.52 | 5.19 | 14.67 | 18.74 | 15.86 | 14.05 | 19.94 | 7.38 | — |
| EV / EBITDA | — | — | 111.01 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 1388.87 | 49.96 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 15.81 | — | — | — | — | — | — | — | — |
HCM Profitability
Margins and return-on-capital ratios measuring operating efficiency
HUTCHMED (China) Limited earns an operating margin of -6.9%. Operating margins have expanded from -96.1% to -6.9% over the past 3 years, signaling improving operational efficiency. ROE of 5.0% is modest.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.6% | 44.6% | 54.1% | 27.0% | 27.5% | 17.3% | 21.8% | 32.8% | 27.1% | 27.7% | 37.8% |
| Operating Margin | -6.9% | -6.9% | 2.2% | -96.1% | -96.7% | -87.1% | -70.8% | -43.3% | -22.1% | -21.6% | -5.5% |
| Net Profit Margin | 6.0% | 6.0% | 12.0% | -84.6% | -54.7% | -55.2% | -50.6% | -34.9% | -11.1% | 5.4% | 4.5% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.0% | 5.0% | 14.6% | -43.0% | -25.0% | -30.2% | -28.6% | -16.7% | -7.8% | 7.6% | 7.2% |
| ROA | 3.0% | 3.0% | 8.7% | -30.0% | -18.6% | -21.1% | -20.8% | -13.2% | -5.7% | 4.1% | 3.6% |
| ROIC | -5.2% | -5.2% | 3.1% | -58.5% | -50.5% | -54.4% | -37.6% | -17.8% | -13.3% | -24.0% | -6.0% |
| ROCE | -4.9% | -4.9% | 2.4% | -47.2% | -42.3% | -43.3% | -36.3% | -19.7% | -14.4% | -23.6% | -6.5% |
HCM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $154M exceeds total debt of $90M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.12 | 0.04 | 0.04 | 0.07 | 0.11 | 0.06 | 0.06 | 0.23 | 0.49 |
| Debt / EBITDA | — | — | 3.24 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.27 | -0.46 | -0.33 | -0.38 | -0.28 | -0.14 | -0.11 | -0.16 | 0.18 |
| Net Debt / EBITDA | — | — | -7.43 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -1.06 | — | — | — | — | — | — | — | — |
| Interest Coverage | -15.22 | -15.22 | 24.21 | -628.48 | -581.57 | -252.37 | -140.80 | -91.81 | -36.71 | -28.63 | -6.96 |
Net cash position: cash ($154M) exceeds total debt ($90M)
HCM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
HUTCHMED (China) Limited's current ratio of 2.83x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.37x to 2.83x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.83 | 2.83 | 2.72 | 2.37 | 3.89 | 3.35 | 2.80 | 4.33 | 4.13 | 1.76 | 1.11 |
| Quick Ratio | 2.70 | 2.70 | 2.60 | 2.21 | 3.77 | 3.23 | 2.66 | 4.19 | 4.02 | 1.62 | 0.99 |
| Cash Ratio | 2.22 | 2.22 | 2.20 | 1.78 | 3.25 | 2.75 | 1.92 | 3.52 | 3.43 | 1.09 | 0.39 |
| Asset Turnover | — | 0.49 | 0.65 | 0.41 | 0.26 | 0.31 | 0.44 | 0.40 | 0.40 | 0.63 | 0.78 |
| Inventory Turnover | 6.92 | 6.92 | 7.65 | 5.49 | 7.22 | 9.54 | 9.88 | 11.69 | 14.91 | 12.19 | 11.59 |
| Days Sales Outstanding | — | 97.15 | 65.53 | 108.47 | 151.41 | 76.64 | 137.48 | 74.75 | 93.99 | 82.65 | 93.84 |
HCM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
HUTCHMED (China) Limited returns 1.6% to shareholders annually primarily through share buybacks. The earnings yield of 1.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 3.5% | 1.8% | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 1.5% | 3.3% | — | — | — | — | — | — | 0.7% | — |
| FCF Yield | — | — | 5.9% | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.6% | 1.4% | 0.3% | 1.9% | 0.5% | 0.3% | 0.0% | 0.2% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 1.6% | 1.4% | 0.3% | 5.4% | 2.3% | 0.3% | 0.0% | 0.2% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $175M | $174M | $169M | $159M | $140M | $133M | $133M | $123M | $120M | $109M |
Peer Comparison
Compare HCM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HCMYou | $2B | 61.0 | — | — | 44.6% | -6.9% | 5.0% | -5.2% | — |
 ZLAB | $2B | -13.1 | — | — | 58.6% | -49.9% | -22.6% | -42.8% | — |
 LEGN | $5B | -9.0 | — | — | 60.3% | -13.3% | -29.1% | -12.7% | — |
 CAN | $356M | -1.2 | — | — | 7.8% | -21.2% | -59.8% | -24.9% | — |
 ABBV | $363B | 86.5 | 15.1 | 20.4 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 MRK | $280B | 15.6 | 10.8 | 22.7 | 72.0% | 36.2% | 36.9% | 22.0% | 1.7 |
 BMY | $115B | 16.4 | 9.2 | 9.0 | 67.6% | 26.3% | 40.4% | 16.9% | 2.8 |
 EXEL | $12B | 17.5 | 13.4 | 14.7 | 96.4% | 37.6% | 35.5% | 32.1% | 0.2 |
 INCY | $20B | 15.6 | 11.8 | 14.7 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 RCUS | $3B | -7.9 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
 AZN | $287B | 28.3 | 16.0 | 24.4 | 81.9% | 23.4% | 22.9% | 14.9% | 1.5 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonHCM — Frequently Asked Questions
Quick answers to the most common questions about buying HCM stock.
What is HUTCHMED (China) Limited's P/E ratio?
HUTCHMED (China) Limited's current P/E ratio is 61.0x. The historical average is 77.1x. This places it at the 33th percentile of its historical range.
What is HUTCHMED (China) Limited's ROE?
HUTCHMED (China) Limited's return on equity (ROE) is 5.0%. The historical average is -9.5%.
Is HCM stock overvalued?
Based on historical data, HUTCHMED (China) Limited is trading at a P/E of 61.0x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are HUTCHMED (China) Limited's profit margins?
HUTCHMED (China) Limited has 44.6% gross margin and -6.9% operating margin.