HUTCHMED (China) Limited (HCM) Revenue History
Annual and quarterly revenue from 2005 to present
HCM Revenue Over Time (2005–2025)
HCM Revenue Growth History
15 of 20 years with positive growth- FY2005 revenue growth
- N/A
- FY2006 revenue growth
- +33.2%
- FY2007 revenue growth
- +29.1%
- FY2008 revenue growth
- +33.6%
- FY2009 revenue growth
- +27.6%
- FY2010 revenue growth
- +21.2%
- FY2011 revenue growth
- +22.7%
- FY2012 revenue growth
- -86.4%
- FY2013 revenue growth
- +105.5%
- FY2014 revenue growth
- +90.0%
- FY2015 revenue growth
- +104.1%
- FY2016 revenue growth
- +21.3%
- FY2017 revenue growth
- +11.6%
- FY2018 revenue growth
- -11.2%
- FY2019 revenue growth
- -4.3%
- FY2020 revenue growth
- +11.5%
- FY2021 revenue growth
- +55.9%
- FY2022 revenue growth
- +19.7%
- FY2023 revenue growth
- +96.5%
- FY2024 revenue growth
- -24.8%
- FY2025 revenue growth
- -12.7%
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $139.1M | +0.2% |
| Q1 2026 | $139.1M | +0.2% |
| Q4 2025 | $135.4M | -16.5% |
| Q3 2025 | $135.4M | -16.5% |
| Q2 2025 | $138.8M | -9.2% |
| Q1 2025 | $138.8M | -9.2% |
| Q4 2024 | $162.3M | +6.4% |
| Q3 2024 | $162.3M | +102.2% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
HCM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
HCM Revenue Analysis (2005–2025)
Current Revenue & Growth
As of November 8, 2026, HUTCHMED (China) Limited (HCM) generated trailing twelve-month (TTM) revenue of $549.1 million, reflecting modest growth of +0.2% year-over-year. The most recent quarter (Q2 2026) recorded $139.1 million in revenue, up 0.0% sequentially.
Historical Growth Trajectory
HCM's 5-year compound annual growth rate (CAGR) stands at +19.2%, indicating consistent double-digit revenue growth. The 3-year CAGR of +8.9% is below the 5-year average, signalling a growth deceleration in recent years. HUTCHMED (China) Limited's highest annual revenue of $838.0 million was recorded in 2023.
Revenue by Segment
HCM's revenue is primarily driven by Other Collaboration Royalties Revenue (45%), Commercialization Services (29%), and Collaboration Research And Development (18%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Healthcare sector peers — including ZLAB (+0.0% YoY), LEGN (+59.5% YoY), and CAN (+27.9% YoY) — HCM has underperformed the peer group in revenue growth. Compare HCM vs ZLAB →
HCM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HCMCurrent | $549M | +0.2% | +19.2% | -10.0% | |
 ZLAB | $460M | +0.0% | +56.5% | -48.6% | |
 LEGN | $1.0B | +59.5% | +68.8% | -13.3% | |
 CAN | $530M | +27.9% | +3.4% | -21.2% | |
 ABBV | $61.2B | +10.7% | +6.0% | 32.8% | |
 MRK | $64.9B | +4.8% | +9.4% | 36.2% |
HCM Historical Revenue Data (2005–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $550.0M | -12.7% | $212.7M | 38.7% | $-54,725,352 | -10.0% |
| 2024 | $630.2M | -24.8% | $282.6M | 44.8% | $-43,705,000 | -6.9% |
| 2023 | $838.0M | +96.5% | $453.6M | 54.1% | $18.4M | 2.2% |
| 2022 | $426.4M | +19.7% | $115.3M | 27.0% | $-718,796,000 | -168.6% |
| 2021 | $356.1M | +55.9% | $327.3M | 91.9% | $-357,103,000 | -100.3% |
| 2020 | $228.4M | +11.5% | $39.5M | 17.3% | $-198,616,285 | -87.0% |
| 2019 | $204.9M | -4.3% | $44.7M | 21.8% | $-152,781,581 | -74.6% |
| 2018 | $214.1M | -11.2% | $70.2M | 32.8% | $-92,641,000 | -43.3% |
| 2017 | $241.2M | +11.6% | $65.4M | 27.1% | $-53,417,000 | -22.1% |
| 2016 | $216.1M | +21.3% | $59.8M | 27.7% | $-46,697,000 | -21.6% |
| 2015 | $178.2M | +104.1% | $67.4M | 37.8% | $-9,771,000 | -5.5% |
| 2014 | $87.3M | +90.0% | $28.5M | 32.6% | $-18,232,802 | -20.9% |
| 2013 | $46.0M | +105.5% | $23.8M | 51.7% | $-1,038,164 | -2.3% |
| 2012 | $22.4M | -86.4% | $9.6M | 43.0% | $-17,434,000 | -77.9% |
| 2011 | $165.0M | +22.7% | $91.1M | 55.2% | $4.1M | 2.5% |
HCM Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
21+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
HCM — Frequently Asked Questions
Quick answers to the most common questions about buying HCM stock.
Is HCM's revenue growth accelerating or slowing?
HCM revenue growth is slowing. TTM revenue is $549M, up +0.2% year-over-year — below the 5-year CAGR of +19.2%. The deceleration suggests maturing end-markets or increased competition.
What is HCM's revenue history from 2005 to 2026?
HUTCHMED (China) Limited (HCM) revenue history spans 2005 to 2026. TTM revenue as of 2026 is $549M, growing at +0.2% YoY. The 5-year CAGR is +19.2%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is HCM's long-term revenue growth rate (CAGR)?
HUTCHMED (China) Limited's 5-year revenue CAGR of +19.2% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of +0.2% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for HCM.
Why does HCM's quarterly revenue fluctuate?
HCM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. HUTCHMED (China) Limited's revenue data from 2005 to 2026 shows full historical quarterly detail on this page.
How is HCM's revenue distributed by segment?
HCM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does HCM's revenue compare to industry peers?
HUTCHMED (China) Limited (HCM) with TTM revenue of $549M and +0.2% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.