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HUTCHMED (China)
(0013)
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Rating:60Neutral
Price Target:
HK$24.00
▲(23.78% 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
Very low leverage gives HUTCHMED financial flexibility to continue funding research and development, regulatory work, and commercialization despite operating volatility. A strong equity base also improves resilience through loss-making periods and reduces dependence on external financing.
Negative Factors
Negative core profitability
Negative operating margins indicate that the core business is not yet generating reliable profits from its products and operations. The low gross margin further limits operating leverage, making sustained earnings improvement dependent on stronger revenue mix, scale, or cost performance.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage gives HUTCHMED financial flexibility to continue funding research and development, regulatory work, and commercialization despite operating volatility. A strong equity base also improves resilience through loss-making periods and reduces dependence on external financing.
Read all positive factors
HUTCHMED (China) (0013) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$18.96B
Dividend YieldN/A
Average Volume (3M)6.04M
Price to Earnings (P/E)149.7
Beta (1Y)0.87
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. Volume3,368,073
30 Day Avg. Volume6,040,063
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$30.57Price Target Upside57.66% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)0.07
Revenue Forecast (FY)HK$625.67M
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) Technical Analysis
Neutral
19.39
Price Trends
20.69
Positive
19.15
Positive
20.78
Positive
Market Momentum
0.41
Positive
50.72
Neutral
21.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0013, the sentiment is Neutral. The current price of 19.39 is below the 20-day moving average (MA) of 21.99, below the 50-day MA of 20.69, and below the 200-day MA of 20.78, indicating a neutral trend. The MACD of 0.41 indicates Positive momentum. The RSI at 50.72 is Neutral, neither overbought nor oversold. The STOCH value of 21.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0013.
HUTCHMED (China) Risk Analysis
HUTCHMED (China) disclosed 90 risk factors in its most recent earnings report. HUTCHMED (China) reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
HUTCHMED (China) Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$191.26B | 24.41 | 18.26% | 1.54% | 24.97% | 43.23% | |
69 Neutral | HK$27.68B | 16.14 | 11.97% | 12.64% | -5.90% | -18.84% | |
61 Neutral | HK$25.71B | 14.47 | 8.60% | 3.26% | 14.80% | -2.88% | |
60 Neutral | HK$18.96B | 149.75 | 1.43% | ― | -8.55% | -96.20% | |
59 Neutral | HK$69.17B | 18.66 | 6.97% | 2.52% | 9.88% | 9.30% | |
55 Neutral | HK$17.85B | 502.09 | 0.82% | 1.31% | 38.42% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:0013
HUTCHMED (China)
21.32
-2.96
-12.19%
HK:0867
China Medical System Holdings
10.33
-2.87
-21.75%
HK:1513
Livzon Pharmaceutical Group
22.24
-10.15
-31.34%
HK:2196
Shanghai Fosun Pharmaceutical (Group) Co
17.26
-6.08
-26.06%
HK:3692
Hansoh Pharmaceutical Group Company Limited
31.56
-4.50
-12.47%
HK:6185
CanSino Biologics, Inc. Class H
33.10
-13.38
-28.79%
HUTCHMED (China) Corporate Events
HUTCHMED Backs AstraZeneca’s U.S. Filing for ORPATHYS–TAGRISSO Lung Cancer Combo
Sep 29, 2026
HUTCHMED said partner AstraZeneca has submitted a New Drug Application in the U.S. for the combination of ORPATHYS and TAGRISSO to treat locally advanced or metastatic EGFR-mutated non-small cell lung cancer with MET overexpression or amplificatio...
HUTCHMED launches first-in-human global trial of novel KRAS-EGFR cancer therapy HMPL-A830
Sep 28, 2026
HUTCHMED has begun the Phase Ia portion of a global first-in-human trial of HMPL-A830, a first-in-class KRAS-EGFR antibody-targeted therapy conjugate for patients with unresectable, advanced or metastatic solid tumors. The study, which started dos...
HUTCHMED to showcase pivotal lung cancer and broad oncology data at ESMO 2026
Sep 24, 2026
HUTCHMED (China) Limited announced that a broad slate of new and updated clinical data on its oncology compounds will be presented at the European Society for Medical Oncology Congress 2026 in Madrid, underscoring the depth of its late-stage pipel...
HUTCHMED Licenses First-in-Class KRAS-EGFR Cancer Therapy to GSK in US$1.3 Billion Deal
Sep 3, 2026
HUTCHMED has signed an exclusive development and licensing agreement with a GSK subsidiary for HMPL-A830, a first-in-class KRAS-EGFR antibody-targeted therapy conjugate for cancer, granting GSK rights outside Greater China. The deal includes a US$...
HUTCHMED’s ORPATHYS Combo Delivers First-Line Benefit in MET-Driven Lung Cancer
Aug 31, 2026
HUTCHMED announced that the Phase III SANOVO trial in China showed ORPATHYS plus TAGRISSO delivered a statistically significant and clinically meaningful improvement in progression-free survival over TAGRISSO alone in treatment-naïve patients...
HUTCHMED Wins China NMPA Nod for ATLED in Advanced Liver Cancer
Aug 28, 2026
HUTCHMED has secured conditional approval from China’s National Medical Products Administration for ATLED, an oral, highly selective FGFR1/2/3 inhibitor, to treat adult patients with advanced, metastatic or unresectable intrahepatic cholangi...
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...
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.