What is HUTCHMED (China) Limited's earnings per share (EPS)?

HUTCHMED (China) Limited (HMDCF) reported diluted earnings per share of $0.52 for fiscal year 2025. This represents a 1200.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

HUTCHMED (China) Limited Financials

HMDCF

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows HUTCHMED (China) Limited (HMDCF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

HUTCHMED (China) Limited has an operating margin of -7.1%, meaning the company retains $-7 of operating profit per $100 of revenue. This below-average margin results in a low score of 6/100, suggesting thin profitability after operating expenses. This is down from -6.9% the prior year.

Growth

HUTCHMED (China) Limited's revenue declined 13% year-over-year, from $630.2M to $548.5M. This contraction results in a growth score of 12/100.

Leverage

100

HUTCHMED (China) Limited carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.96, HUTCHMED (China) Limited holds $4.96 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 99/100.

Cash Flow

While HUTCHMED (China) Limited generated -$64.7M in operating cash flow, capex of $14.1M consumed most of it, leaving -$78.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

HUTCHMED (China) Limited earns a strong 36.9% return on equity (ROE), meaning it generates $37 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 93/100. This is up from 5.0% the prior year.

Piotroski F-Score Neutral

4/9

HUTCHMED (China) Limited passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-0.14x

For every $1 of reported earnings, HUTCHMED (China) Limited generates $-0.14 in operating cash flow (-$64.7M OCF vs $456.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-13.7x

HUTCHMED (China) Limited earns $-13.7 in operating income for every $1 of interest expense (-$39.2M vs $2.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$548.5M

YoY-13.0%

5Y CAGR+19.2%

10Y CAGR+11.9%

HUTCHMED (China) Limited generated $548.5M in revenue in fiscal year 2025. This represents a decrease of 13.0% from the prior year.

EBITDA

-$25.9M

YoY+17.6%

HUTCHMED (China) Limited's EBITDA was -$25.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.6% from the prior year.

Net Income

$456.9M

YoY+1111.0%

10Y CAGR+49.9%

HUTCHMED (China) Limited reported $456.9M in net income in fiscal year 2025. This represents an increase of 1111.0% from the prior year.

EPS (Diluted)

$0.52

YoY+1200.0%

HUTCHMED (China) Limited earned $0.52 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1200.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$78.8M

YoY-352.0%

HUTCHMED (China) Limited generated -$78.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 352.0% from the prior year.

Cash & Debt

$71.3M

YoY-53.7%

5Y CAGR-21.3%

10Y CAGR+8.4%

HUTCHMED (China) Limited held $71.3M in cash against $68.2M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

872M

YoY+0.1%

5Y CAGR+3.7%

HUTCHMED (China) Limited had 872M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

38.7%

YoY-6.0pp

10Y CAGR-2.5pp

HUTCHMED (China) Limited's gross margin was 38.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 6.0 percentage points from the prior year.

Operating Margin

-7.1%

YoY-0.2pp

5Y CAGR+79.1pp

10Y CAGR-1.7pp

HUTCHMED (China) Limited's operating margin was -7.1% in fiscal year 2025, reflecting core business profitability. This is down 0.2 percentage points from the prior year.

Net Margin

83.3%

YoY+77.3pp

5Y CAGR+138.5pp

10Y CAGR+78.8pp

HUTCHMED (China) Limited's net profit margin was 83.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 77.3 percentage points from the prior year.

Return on Equity

36.9%

YoY+31.9pp

5Y CAGR+62.9pp

10Y CAGR+27.3pp

HUTCHMED (China) Limited's ROE was 36.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 31.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$148.3M

YoY-30.1%

5Y CAGR-3.2%

10Y CAGR+12.1%

HUTCHMED (China) Limited invested $148.3M in research and development in fiscal year 2025. This represents a decrease of 30.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$14.1M

YoY-21.1%

5Y CAGR+12.2%

10Y CAGR+15.6%

HUTCHMED (China) Limited invested $14.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 21.1% from the prior year.

HMDCF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$548.5M-13.0%	$630.2M-24.8%	$838.0M+96.5%	$426.4M+19.7%	$356.1M+56.2%	$228.0M
Cost of Revenue	$336.3M-3.6%	$348.9M-9.3%	$384.4M+23.6%	$311.1M	N/A	N/A
Gross Profit	$212.2M-24.6%	$281.3M-38.0%	$453.6M+293.3%	$115.3M	N/A	N/A
R&D Expenses	$148.3M-30.1%	$212.1M-29.8%	$302.0M-21.9%	$386.9M+29.4%	$299.1M+71.1%	$174.8M
SG&A Expenses	$66.7M+3.8%	$64.3M-19.4%	$79.8M-13.4%	$92.2M+3.2%	$89.3M+78.5%	$50.0M
Operating Income	-$39.2M+10.4%	-$43.7M-337.9%	$18.4M+104.5%	-$407.7M-24.2%	-$328.3M-66.9%	-$196.7M
Interest Expense	$2.9M-0.2%	$2.9M+278.4%	$759K+16.4%	$652K+10.1%	$592K-24.8%	$787K
Income Tax	$63.6M+784.5%	$7.2M+59.5%	$4.5M+1693.3%	-$283K-102.4%	$11.9M+146.8%	$4.8M
Net Income	$456.9M+1111.0%	$37.7M-62.6%	$100.8M+127.9%	-$360.8M-85.4%	-$194.6M-54.8%	-$125.7M
EPS (Diluted)	$0.52+1200.0%	$0.04-66.7%	$0.12+127.9%	$-0.43-72.0%	$-0.25-38.9%	$-0.18

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HMDCF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.8B+37.6%	$1.3B-0.4%	$1.3B+24.3%	$1.0B-25.0%	$1.4B+89.6%	$724.1M
Current Assets	$1.6B+47.0%	$1.1B-2.8%	$1.1B+30.6%	$839.9M-30.7%	$1.2B+128.4%	$530.7M
Cash & Equivalents	$71.3M-53.7%	$154.0M-45.7%	$283.6M-9.5%	$313.3M-17.0%	$377.5M+60.2%	$235.6M
Inventory	$41.1M-18.4%	$50.4M+0.3%	$50.3M-11.3%	$56.7M+58.6%	$35.8M+80.9%	$19.8M
Accounts Receivable	$126.8M-18.5%	$155.5M+33.1%	$116.9M+19.3%	$98.0M+17.2%	$83.6M+74.6%	$47.9M
Goodwill	$3.1M+4.1%	$3.0M-2.4%	$3.1M-2.3%	$3.1M-7.2%	$3.4M+2.2%	$3.3M
Total Liabilities	$501.8M-0.1%	$502.3M-6.3%	$536.4M+36.6%	$392.6M+17.8%	$333.1M+62.4%	$205.2M
Current Liabilities	$315.8M-16.1%	$376.6M-6.6%	$403.0M+13.9%	$353.9M+13.6%	$311.7M+96.8%	$158.4M
Long-Term Debt	$68.2M+14.7%	$59.4M+23.3%	$48.2M+166.2%	$18.1M-32.7%	$26.9M+0.2%	$26.9M
Total Equity	$1.2B+62.9%	$759.9M+4.0%	$730.5M+19.7%	$610.4M-38.2%	$986.9M+103.9%	$484.1M
Retained Earnings	-$378.6M+54.6%	-$833.2M+4.3%	-$870.9M+10.4%	-$971.5M-59.2%	-$610.3M-46.9%	-$415.6M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$1.8B-1.3%	$1.8B+39.4%	$1.3B+1.1%	$1.3B-1.5%	$1.3B-1.4%	$1.3B+26.0%	$1.0B-13.8%	$1.2B
Current Assets	$1.6B-1.6%	$1.6B+49.3%	$1.1B+1.7%	$1.0B-4.4%	$1.1B+0.6%	$1.1B+29.8%	$839.9M-17.8%	$1.0B
Cash & Equivalents	$71.3M-35.6%	$110.7M-28.1%	$154.0M-24.5%	$204.0M-28.1%	$283.6M+27.2%	$223.0M-28.8%	$313.3M-33.0%	$467.5M
Inventory	$41.1M-15.1%	$48.5M-3.9%	$50.4M+8.5%	$46.4M-7.6%	$50.3M-6.7%	$53.9M-5.0%	$56.7M+23.4%	$45.9M
Accounts Receivable	$126.8M-13.8%	$147.0M-5.5%	$155.5M-0.9%	$156.9M+34.2%	$116.9M-9.5%	$129.2M+31.9%	$98.0M+27.1%	$77.1M
Goodwill	$3.1M+1.6%	$3.1M+2.5%	$3.0M-0.8%	$3.0M-1.6%	$3.1M0.0%	$3.1M-2.3%	$3.1M-3.7%	$3.3M
Total Liabilities	$501.8M-6.0%	$534.0M+6.3%	$502.3M-1.3%	$508.9M-5.1%	$536.4M+7.8%	$497.5M+26.7%	$392.6M+14.6%	$342.5M
Current Liabilities	$315.8M-7.8%	$342.3M-9.1%	$376.6M+0.9%	$373.3M-7.4%	$403.0M+18.2%	$340.9M-3.7%	$353.9M+10.0%	$321.9M
Long-Term Debt	$68.2M+0.5%	$67.8M+14.1%	$59.4M+6.8%	$55.6M+15.4%	$48.2M+20.0%	$40.1M+121.8%	$18.1M+4231.1%	$418K
Total Equity	$1.2B+0.7%	$1.2B+61.7%	$759.9M+2.7%	$740.1M+1.3%	$730.5M-6.6%	$782.0M+28.1%	$610.4M-23.7%	$799.7M
Retained Earnings	-$378.6M+0.4%	-$380.3M+54.4%	-$833.2M+1.4%	-$845.1M+3.0%	-$870.9M-8.4%	-$803.1M+17.3%	-$971.5M-25.6%	-$773.2M

HMDCF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$64.7M-13109.5%	$497K-99.8%	$219.3M+181.6%	-$268.6M-31.5%	-$204.2M-229.0%	-$62.1M
Capital Expenditures	$14.1M-21.1%	$17.9M-45.0%	$32.6M-11.1%	$36.7M+123.5%	$16.4M+106.3%	$7.9M
Free Cash Flow	-$78.8M-352.0%	-$17.4M-109.3%	$186.6M+161.1%	-$305.3M-38.4%	-$220.6M-215.1%	-$70.0M
Investing Cash Flow	-$29.4M+69.4%	-$96.1M+67.0%	-$291.1M-198.2%	$296.6M+196.8%	-$306.3M-144.2%	-$125.4M
Financing Cash Flow	$7.8M+125.6%	-$30.7M-163.0%	$48.7M+158.8%	-$82.8M-112.7%	$650.0M+119.3%	$296.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$36.1M+297.6%	$9.1M-81.1%	$48.1M+76.1%	$27.3M+111.6%	$12.9M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

HMDCF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	38.7%-6.0pp	44.6%-9.5pp	54.1%+27.1pp	27.0%	N/A	N/A
Operating Margin	-7.1%-0.2pp	-6.9%-9.1pp	2.2%+97.8pp	-95.6%-3.4pp	-92.2%-5.9pp	-86.3%
Net Margin	83.3%+77.3pp	6.0%-6.0pp	12.0%+96.6pp	-84.6%-30.0pp	-54.7%+0.5pp	-55.1%
Return on Equity	36.9%+31.9pp	5.0%-8.8pp	13.8%+72.9pp	-59.1%-39.4pp	-19.7%+6.3pp	-26.0%
Return on Assets	26.1%+23.1pp	3.0%-4.9pp	7.9%+42.9pp	-35.0%-20.9pp	-14.2%+3.2pp	-17.4%
Current Ratio	4.96+2.1	2.83+0.1	2.72+0.3	2.37-1.5	3.89+0.5	3.35
Debt-to-Equity	0.06-0.0	0.08+0.0	0.07+0.0	0.030.0	0.03-0.0	0.06
FCF Margin	-14.4%-11.6pp	-2.8%-25.0pp	22.3%+93.9pp	-71.6%-9.6pp	-62.0%-31.2pp	-30.7%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	4.96+0.3	4.65+1.8	2.83+0.0	2.81+0.1	2.72-0.5	3.20+0.8	2.37-0.8	3.18
Debt-to-Equity	0.060.0	0.06-0.0	0.080.0	0.080.0	0.07+0.0	0.05+0.0	0.03+0.0	0.00
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is HUTCHMED (China) Limited's annual revenue?

HUTCHMED (China) Limited (HMDCF) reported $548.5M in total revenue for fiscal year 2025. This represents a -13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is HUTCHMED (China) Limited's revenue growing?

HUTCHMED (China) Limited (HMDCF) revenue declined by 13% year-over-year, from $630.2M to $548.5M in fiscal year 2025.

Is HUTCHMED (China) Limited profitable?

Yes, HUTCHMED (China) Limited (HMDCF) reported a net income of $456.9M in fiscal year 2025, with a net profit margin of 83.3%.

What is HUTCHMED (China) Limited's EBITDA?

HUTCHMED (China) Limited (HMDCF) had EBITDA of -$25.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does HUTCHMED (China) Limited have?

As of fiscal year 2025, HUTCHMED (China) Limited (HMDCF) had $71.3M in cash and equivalents against $68.2M in long-term debt.

What is HUTCHMED (China) Limited's gross margin?

HUTCHMED (China) Limited (HMDCF) had a gross margin of 38.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is HUTCHMED (China) Limited's operating margin?

HUTCHMED (China) Limited (HMDCF) had an operating margin of -7.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is HUTCHMED (China) Limited's net profit margin?

HUTCHMED (China) Limited (HMDCF) had a net profit margin of 83.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is HUTCHMED (China) Limited's return on equity (ROE)?

HUTCHMED (China) Limited (HMDCF) has a return on equity of 36.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is HUTCHMED (China) Limited's free cash flow?

HUTCHMED (China) Limited (HMDCF) generated -$78.8M in free cash flow during fiscal year 2025. This represents a -352.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is HUTCHMED (China) Limited's operating cash flow?

HUTCHMED (China) Limited (HMDCF) generated -$64.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are HUTCHMED (China) Limited's total assets?

HUTCHMED (China) Limited (HMDCF) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are HUTCHMED (China) Limited's capital expenditures?

HUTCHMED (China) Limited (HMDCF) invested $14.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does HUTCHMED (China) Limited spend on research and development?

HUTCHMED (China) Limited (HMDCF) invested $148.3M in research and development during fiscal year 2025.

How many shares does HUTCHMED (China) Limited have outstanding?

HUTCHMED (China) Limited (HMDCF) had 872M shares outstanding as of fiscal year 2025.

What is HUTCHMED (China) Limited's current ratio?

HUTCHMED (China) Limited (HMDCF) had a current ratio of 4.96 as of fiscal year 2025, which is generally considered healthy.

What is HUTCHMED (China) Limited's debt-to-equity ratio?

HUTCHMED (China) Limited (HMDCF) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is HUTCHMED (China) Limited's return on assets (ROA)?

HUTCHMED (China) Limited (HMDCF) had a return on assets of 26.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is HUTCHMED (China) Limited's cash runway?

Based on fiscal year 2025 data, HUTCHMED (China) Limited (HMDCF) had $71.3M in cash against an annual operating cash burn of $64.7M. This gives an estimated cash runway of approximately 13 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is HUTCHMED (China) Limited's Piotroski F-Score?

HUTCHMED (China) Limited (HMDCF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are HUTCHMED (China) Limited's earnings high quality?

HUTCHMED (China) Limited (HMDCF) has an earnings quality ratio of -0.14x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can HUTCHMED (China) Limited cover its interest payments?

HUTCHMED (China) Limited (HMDCF) has an interest coverage ratio of -13.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is HUTCHMED (China) Limited?

HUTCHMED (China) Limited (HMDCF) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.