HUTCHMED (China) Ltd
HCM, HMDCF · Pharmaceutical Preparations · EDGAR filings ↗
Grade
B78Global commercial-stage oncology biopharma with approved drugs, strong cash and a deep partnered pipeline.
Strengths
- Best-in-class cash position ($1.37B, 94th pct) and ~69-quarter runway; ROE 37% / ROA 26% (top-decile, though boosted by a divestment gain)
- Globally approved fruquintinib (38 countries) with AstraZeneca, Lilly and Takeda partnerships
Risks
- Core oncology operations still loss-making (operating margin -7%); FY25 net income flattered by a one-off $415.8M divestment gain
- Revenue declined 13% and ongoing R&D burn requires continued funding
Notable findings
- Cash burnNegative free cash flow (-78.8M)
- Strong balance sheetStrong balance sheet — $1.4B cash & investments, ~69 quarters of runway
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.7%
Operating margin
-7.1%
Net margin
83.3%
Return on equity
36.9%
Return on assets
26.1%
ROIC
-2.4%
Revenue growth (QoQ)
8.1%
Debt / equity
0.1×
Current ratio
5.0×
Free cash flow
-$79M
EBITDA
-$26M
Tangible book value
$1.2B
Cash & investments
$1.4B
Cash runway
69q
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-05 | 2025-12-31 | 0001104659-26-023822 ↗ |
| 20-F | 2025-03-19 | 2024-12-31 | 0001410578-25-000377 ↗ |
| 20-F | 2024-02-28 | 2023-12-31 | 0001104659-24-028454 ↗ |
| 20-F | 2023-02-28 | 2022-12-31 | 0001104659-23-026282 ↗ |
| 20-F | 2022-03-03 | 2021-12-31 | 0001104659-22-029752 ↗ |
| 20-F | 2021-03-04 | 2020-12-31 | 0001104659-21-031897 ↗ |
| 20-F | 2020-03-03 | 2019-12-31 | 0001104659-20-028220 ↗ |
| 20-F | 2019-03-11 | 2018-12-31 | 0001047469-19-001057 ↗ |
| 20-F | 2018-03-12 | 2017-12-31 | 0001047469-18-001485 ↗ |
| 20-F | 2017-03-13 | 2016-12-31 | 0001558370-17-001647 ↗ |