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HUTCHMED (China)
(0013)
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Rating:60Neutral
Price Target:
HK$20.00
▲(3.15% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weak and volatile core operating/cash-flow performance (negative operating margins and inconsistent free cash flow), partly offset by a strong, low-leverage balance sheet. Technicals are moderately supportive in the short term, and valuation appears attractive with a low P/E, but the investment profile still depends on improving recurring profitability and stabilizing cash generation.
Positive Factors
Conservative Balance Sheet
Debt-to-equity of about 0.08 and a sizable equity base reduce refinancing pressure, preserving capacity to fund clinical programs and absorb volatility. This financial flexibility is valuable for a research-led company whose returns can fluctuate with trial and launch timing.
Negative Factors
Declining Revenue and Earnings Growth
Recent contraction in revenue and a sharp EPS decline indicate that product growth and earnings conversion are not yet dependable. Continued weakness could limit internal funding for research and reduce the operating leverage expected from a growing commercial portfolio.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Debt-to-equity of about 0.08 and a sizable equity base reduce refinancing pressure, preserving capacity to fund clinical programs and absorb volatility. This financial flexibility is valuable for a research-led company whose returns can fluctuate with trial and launch timing.
Read all positive factors
HUTCHMED (China) (0013) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$17.25B
Dividend YieldN/A
Average Volume (3M)7.40M
Price to Earnings (P/E)136.8
Beta (1Y)0.88
Revenue Growth-8.55%
EPS Growth-96.20%
CountryHK
Employees1,796
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.02
Shares Outstanding872,335,140
10 Day Avg. Volume5,279,510
30 Day Avg. Volume7,396,099
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.87
Price to Sales (P/S)4.22
P/FCF Ratio-29.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$29.87Price Target Upside54.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering12
EPS Forecast (FY)0.05
Revenue Forecast (FY)HK$607.75M
HUTCHMED (China) Business Overview & Revenue Model
Company Description
HUTCHMED (China) Limited, a biopharmaceutical company established in 2000 and headquartered in Central, Hong Kong, focuses on the discovery, development, and commercialization of innovative targeted therapies and immunotherapies. The company prima...
How the Company Makes Money
HUTCHMED primarily makes money through a combination of (1) sales of its commercial-stage medicines and (2) collaboration-related income tied to partnerships for the development and commercialization of certain products.
1) Product sales (commerc...
HUTCHMED (China) Financial Statement Overview
Summary
Income Statement
47
Neutral
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 549.12M | 548.51M | 630.20M | 838.00M | 426.41M | 356.13M |
| Gross Profit | 1.11M | 63.87M | 281.32M | 151.55M | 115.31M | 97.89M |
| EBITDA | -20.52M | -25.85M | 14.11M | 67.27M | -401.11M | -321.13M |
| Net Income | 17.88M | 456.91M | 37.73M | 100.78M | -360.83M | -194.65M |
Balance Sheet | ||||||
| Total Assets | 1.74B | 1.75B | 1.27B | 1.28B | 1.03B | 1.37B |
| Cash, Cash Equivalents and Short-Term Investments | 1.38B | 1.37B | 836.11M | 886.34M | 631.00M | 1.01B |
| Total Debt | 94.51M | 97.88M | 89.82M | 86.13M | 27.01M | 38.98M |
| Total Liabilities | 461.46M | 501.77M | 502.34M | 536.39M | 392.57M | 333.15M |
| Stockholders Equity | 1.26B | 1.24B | 759.93M | 730.54M | 610.37M | 986.89M |
Cash Flow | ||||||
| Free Cash Flow | 9.95M | -78.92M | -17.44M | 186.65M | -305.26M | -220.98M |
| Operating Cash Flow | 20.46M | -64.75M | 497.00K | 219.26M | -268.60M | -204.22M |
| Investing Cash Flow | -24.94M | -29.45M | -96.06M | -291.14M | 296.59M | -306.32M |
| Financing Cash Flow | -4.34M | 7.85M | -30.67M | 48.66M | -82.76M | 650.03M |
HUTCHMED (China) Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$192.48B | 28.94 | 16.71% | 1.34% | 24.97% | 43.23% | |
67 Neutral | HK$24.12B | 13.90 | 13.95% | 6.34% | -5.90% | -18.84% | |
61 Neutral | HK$28.23B | 15.90 | 8.60% | 2.70% | 14.80% | -2.88% | |
60 Neutral | HK$17.25B | 136.76 | 1.43% | ― | -8.55% | -96.20% | |
59 Neutral | HK$65.45B | 17.88 | 7.19% | 2.80% | 9.88% | 9.30% | |
52 Neutral | HK$16.16B | 3,113.42 | -0.02% | ― | 31.39% | 98.96% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:0013
HUTCHMED (China)
19.83
-3.55
-15.18%
HK:0867
China Medical System Holdings
11.51
-1.15
-9.08%
HK:1513
Livzon Pharmaceutical Group
20.14
-13.17
-39.54%
HK:2196
Shanghai Fosun Pharmaceutical (Group) Co
16.56
-4.47
-21.24%
HK:3692
Hansoh Pharmaceutical Group Company Limited
36.82
1.56
4.43%
HK:6185
CanSino Biologics, Inc. Class H
35.20
-11.86
-25.20%
HUTCHMED (China) Corporate Events
HUTCHMED’s ORPATHYS–TAGRISSO combo delivers Phase III survival gains in MET-driven lung cancer
Aug 17, 2026
HUTCHMED announced that the Phase III SAFFRON trial showed its MET inhibitor ORPATHYS® combined with AstraZeneca’s EGFR inhibitor TAGRISSO® delivered statistically significant and clinically meaningful improvements in progression-f...
HUTCHMED’s Fanregratinib Delivers Strong Phase II Data in FGFR2-Positive Cholangiocarcinoma
Jun 25, 2026
HUTCHMED reported pivotal Phase II data for its FGFR1/2/3 inhibitor fanregratinib in patients with advanced intrahepatic cholangiocarcinoma harboring FGFR2 fusions or rearrangements, showing an independent review objective response rate of 42.5% a...
HUTCHMED’s sovleplenib posts strong Phase III data in rare autoimmune anemia
Jun 12, 2026
HUTCHMED reported positive Phase III results from its ESLIM-02 trial of sovleplenib in warm antibody autoimmune hemolytic anemia, a rare autoimmune blood disorder with limited treatment options. The data, presented at the European Hematology Assoc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.