HUTCHMED (China) Limited (HCM) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
HCM Revenue Growth
Revenue Breakdown (FY 2023)
HCM's revenue distribution by segment and geography for fiscal year 2023
By Product/Segment
HCM Revenue Analysis (2013–2024)
As of May 8, 2026, HUTCHMED (China) Limited (HCM) generated trailing twelve-month (TTM) revenue of $602.2 million, reflecting moderate decline in growth of -9.2% year-over-year. The most recent quarter (Q2 2025) recorded $138.8 million in revenue, up 0.0% sequentially.
Looking at the longer-term picture, HCM's 5-year compound annual growth rate (CAGR) stands at +25.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $838.0 million in 2023.
Revenue diversification analysis shows HCM's business is primarily driven by Other Collaboration Licensing Revenue (63%), Collaboration Research And Development (18%), and Commercialization Services (11%). With over half of revenue concentrated in Other Collaboration Licensing Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including ZLAB (+15.3% YoY), LEGN (+64.2% YoY), and CAN (+96.8% YoY), HCM has underperformed the peer group in terms of 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 | $602M | -9.2% | +25.2% | -6.9% | |
 ZLAB | $460M | +15.3% | +56.5% | -49.9% | |
 LEGN | $1.0B | +64.2% | +68.9% | -13.3% | |
 CAN | $530M | +96.8% | +50.5% | -21.2% | |
 ABBV | $61.2B | +8.6% | +6.0% | 32.8% | |
 MRK | $64.9B | +1.2% | +9.4% | 36.2% |
HCM Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $630.2M | -24.8% | $281.3M | 44.6% | $-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% | $-409,770,000 | -96.1% |
| 2021 | $356.1M | +56.2% | $97.9M | 27.5% | $-344,288,392 | -96.7% |
| 2020 | $228.0M | +11.3% | $39.5M | 17.3% | $-198,616,285 | -87.1% |
| 2019 | $204.9M | -4.3% | $44.7M | 21.8% | $-145,019,000 | -70.8% |
| 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 | +94.1% | $67.4M | 37.8% | $-9,771,000 | -5.5% |
See HCM's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs HCM Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare HCM vs DBVT
Side-by-side business, growth, and profitability comparison vs DBV Technologies S.A..
Start ComparisonHCM — Frequently Asked Questions
Quick answers to the most common questions about buying HCM stock.
Is HCM's revenue growth accelerating or slowing?
HCM revenue declined -9.2% year-over-year, contrasting with the 5-year CAGR of +25.2%. TTM revenue fell to $602M. This reverses the prior growth trend.
What is HCM's long-term revenue growth rate?
HUTCHMED (China) Limited's 5-year revenue CAGR of +25.2% reflects the variable expansion pattern. Current YoY growth of -9.2% is below this long-term average.
How is HCM's revenue distributed by segment?
HCM reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.