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Stocks · Health care · Pharmaceutical Preparations

HUTCHMED (China) Ltd

HCM Clue Score64
Cayman Islands CIK 0001648257
$14.10 +3.15% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $14.10 −56.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue216.1Operating income−46.7Net income11.7EPS, diluted0.20Fiscal year 2017Revenue241.2 +11.6%Operating income−53.4Net income−26.7 −328.6%EPS, diluted−0.43Fiscal year 2018Revenue214.1 −11.2%Operating income−92.6Net income−74.8EPS, diluted−1.13Fiscal year 2019Revenue204.9 −4.3%Operating income−146.4Net income−106.0EPS, diluted−0.16Fiscal year 2020Revenue228.0 +11.3%Operating income−196.7Net income−125.7EPS, diluted−0.18Fiscal year 2021Revenue356.1 +56.2%Operating income−328.3Net income−194.6EPS, diluted−0.25Fiscal year 2022Revenue426.4 +19.7%Operating income−407.7Net income−360.8EPS, diluted−0.43Fiscal year 2023Revenue838.0 +96.5%Operating income18.4Net income100.8EPS, diluted0.12Fiscal year 2024Revenue630.2 −24.8%Operating income−43.7Net income37.7 −62.6%EPS, diluted0.04Fiscal year 2025Revenue548.5 −13.0%Operating income−39.2Net income456.9 +1,111.0%EPS, diluted0.52
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 216.1 241.2 214.1 204.9 228.0 356.1 426.4 838.0 630.2 548.5
Growth +11.6% −11.2% −4.3% +11.3% +56.2% +19.7% +96.5% −24.8% −13.0%
Operating income −46.7 −53.4 −92.6 −146.4 −196.7 −328.3 −407.7 18.4 −43.7 −39.2
Net income 11.7 −26.7 −74.8 −106.0 −125.7 −194.6 −360.8 100.8 37.7 456.9
Growth −328.6% −62.6% +1,111.0%
EPS, diluted 0.20 −0.43 −1.13 −0.16 −0.18 −0.25 −0.43 0.12 0.04 0.52

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−21.6%Net margin5.4%Free cash flow margin−6.4%Fiscal year 2017Operating margin−22.1%Net margin−11.1%Free cash flow margin−5.8%Fiscal year 2018Operating margin−43.3%Net margin−34.9%Free cash flow margin−18.3%Fiscal year 2019Operating margin−71.4%Net margin−51.7%Free cash flow margin−43.7%Fiscal year 2020Operating margin−86.3%Net margin−55.2%Free cash flow margin−30.7%Fiscal year 2021Operating margin−92.2%Net margin−54.7%Free cash flow margin−62.0%Fiscal year 2022Operating margin−95.6%Net margin−84.6%Free cash flow margin−71.6%Fiscal year 2023Operating margin2.2%Net margin12.0%Free cash flow margin22.3%Fiscal year 2024Operating margin−6.9%Net margin6.0%Free cash flow margin−2.8%Fiscal year 2025Operating margin−7.1%Net margin83.3%Free cash flow margin−14.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −21.6% −22.1% −43.3% −71.4% −86.3% −92.2% −95.6% 2.2% −6.9% −7.1%
Net margin 5.4% −11.1% −34.9% −51.7% −55.2% −54.7% −84.6% 12.0% 6.0% 83.3%
Free cash flow margin −6.4% −5.8% −18.3% −43.7% −30.7% −62.0% −71.6% 22.3% −2.8% −14.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−9.6Capital expenditure−4.3Free cash flow−13.9Buybacks−0.6Fiscal year 2017Operating cash flow−8.9Capital expenditure−5.0Free cash flow−14.0Buybacks−1.4Fiscal year 2018Operating cash flow−32.8Capital expenditure−6.4Free cash flow−39.2Buybacks−5.5Fiscal year 2019Operating cash flow−80.9Capital expenditure−8.6Free cash flow−89.5Buybacks−0.3Fiscal year 2020Operating cash flow−62.1Capital expenditure−7.9Free cash flow−70.0Buybacks−12.9Fiscal year 2021Operating cash flow−204.2Capital expenditure−16.4Free cash flow−220.6Buybacks−27.3Fiscal year 2022Operating cash flow−268.6Capital expenditure−36.7Free cash flow−305.3Buybacks−48.1Fiscal year 2023Operating cash flow219.3Capital expenditure−32.6Free cash flow186.6Buybacks−9.1Fiscal year 2024Operating cash flow0.5Capital expenditure−17.9Free cash flow−17.4 −109.3%Buybacks−36.1Fiscal year 2025Operating cash flow−64.7Capital expenditure−14.1Free cash flow−78.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −9.6 −8.9 −32.8 −80.9 −62.1 −204.2 −268.6 219.3 0.5 −64.7
Capital expenditure −4.3 −5.0 −6.4 −8.6 −7.9 −16.4 −36.7 −32.6 −17.9 −14.1
Free cash flow −13.9 −14.0 −39.2 −89.5 −70.0 −220.6 −305.3 186.6 −17.4 −78.8
Growth −109.3%
Buybacks −0.6 −1.4 −5.5 −0.3 −12.9 −27.3 −48.1 −9.1 −36.1 n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash79.4Total debt46.8Net cash (debt)32.6Shareholders’ equity184.3Debt to equity0.25Fiscal year 2017Cash85.3Total debt60.0Net cash (debt)25.3Shareholders’ equity461.7Debt to equity0.13Fiscal year 2018Cash86.0Total debt26.7Net cash (debt)59.3Shareholders’ equity389.0Debt to equity0.07Fiscal year 2019Cash121.2Total debt26.8Net cash (debt)94.3Shareholders’ equity288.0Debt to equity0.09Fiscal year 2020Cash235.6Total debt26.9Net cash (debt)208.8Shareholders’ equity484.1Debt to equity0.06Fiscal year 2021Cash377.5Total debt53.8Net cash (debt)323.7Shareholders’ equity986.9Debt to equity0.05Fiscal year 2022Cash313.3Total debt18.1Net cash (debt)295.2Shareholders’ equity610.4Debt to equity0.03Fiscal year 2023Cash283.6Total debt79.3Net cash (debt)204.2Shareholders’ equity730.5Debt to equity0.11Fiscal year 2024Cash154.0Total debt82.8Net cash (debt)71.2Shareholders’ equity759.9Debt to equity0.11Fiscal year 2025Cash71.3Total debt93.2Net cash (debt)−21.8Shareholders’ equity1,237.9Debt to equity0.08
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 79.4 85.3 86.0 121.2 235.6 377.5 313.3 283.6 154.0 71.3
Total debt 46.8 60.0 26.7 26.8 26.9 53.8 18.1 79.3 82.8 93.2
Net cash (debt) 32.6 25.3 59.3 94.3 208.8 323.7 295.2 204.2 71.2 −21.8
Shareholders’ equity 184.3 461.7 389.0 288.0 484.1 986.9 610.4 730.5 759.9 1,237.9
Debt to equity 0.25 0.13 0.07 0.09 0.06 0.05 0.03 0.11 0.11 0.08

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
−21.6% −22.1% −43.3% −71.4% −86.3% −92.2% −95.6% 2.2% −6.9% −7.1%
9.5% −22.2% −40.5% −68.9% −83.2% −60.6% −96.3% 7.0% −0.2% 90.9%
5.4% −11.1% −34.9% −51.7% −55.2% −54.7% −84.6% 12.0% 6.0% 83.3%
−6.4% −5.8% −18.3% −43.7% −30.7% −62.0% −71.6% 22.3% −2.8% −14.4%
Spending
30.9% 31.3% 53.3% 67.4% 76.7% 84.0% 90.7% 36.0% 33.7% 27.0%
10.0% 9.9% 14.4% 19.1% 21.9% 25.1% 21.6% 9.5% 10.2% 12.2%
2.0% 2.1% 3.0% 4.2% 3.5% 4.6% 8.6% 3.9% 2.8% 2.6%
21.1% n/a n/a n/a n/a n/a n/a 7.7% n/a 12.8%
Returns
6.3% −5.8% −19.2% −36.8% −26.0% −19.7% −59.1% 13.8% 5.0% 36.9%
3.4% −4.5% −14.1% −22.8% −17.4% −14.2% −35.1% 7.9% 3.0% 26.1%
Balance and payout
0.25 0.13 0.07 0.09 0.06 0.05 0.03 0.11 0.11 0.08
40.4% 18.9% 22.5% 32.7% 28.3% 24.3% 38.1% 41.9% 39.4% 28.6%
n/a n/a n/a n/a n/a n/a n/a 4.9% n/a n/a