BeOne Medicines Ltd. Financials
This page shows BeOne Medicines Ltd. (ONC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
BeOne Medicines Ltd. has an operating margin of -14.9%, meaning the company retains $-15 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -49.1% the prior year.
BeOne Medicines Ltd.'s revenue surged 55.0% year-over-year to $3.8B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
BeOne Medicines Ltd. carries a low D/E ratio of 0.05, meaning only $0.05 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.
BeOne Medicines Ltd.'s current ratio of 1.80 indicates adequate short-term liquidity, earning a score of 52/100. The company can meet its near-term obligations, though with limited headroom.
While BeOne Medicines Ltd. generated -$140.6M in operating cash flow, capex of $492.7M consumed most of it, leaving -$633.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
BeOne Medicines Ltd. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, BeOne Medicines Ltd. generates $0.22 in operating cash flow (-$140.6M OCF vs -$644.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
BeOne Medicines Ltd. earns $-12.1 in operating income for every $1 of interest expense (-$568.2M vs $46.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
BeOne Medicines Ltd. generated $3.8B in revenue in fiscal year 2024. This represents an increase of 55.0% from the prior year.
BeOne Medicines Ltd.'s EBITDA was -$396.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 64.6% from the prior year.
BeOne Medicines Ltd. generated -$633.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 63.2% from the prior year.
BeOne Medicines Ltd. reported -$644.8M in net income in fiscal year 2024. This represents an increase of 26.9% from the prior year.
BeOne Medicines Ltd. earned $-0.47 per diluted share (EPS) in fiscal year 2024. This represents an increase of 27.7% from the prior year.
BeOne Medicines Ltd. held $2.6B in cash against $166.5M in long-term debt as of fiscal year 2024.
BeOne Medicines Ltd. had 1.39B shares outstanding in fiscal year 2024. This represents an increase of 2.0% from the prior year.
BeOne Medicines Ltd.'s gross margin was 84.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.
BeOne Medicines Ltd.'s operating margin was -14.9% in fiscal year 2024, reflecting core business profitability. This is up 34.2 percentage points from the prior year.
BeOne Medicines Ltd.'s net profit margin was -16.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 18.9 percentage points from the prior year.
BeOne Medicines Ltd. invested $2.0B in research and development in fiscal year 2024. This represents an increase of 9.8% from the prior year.
BeOne Medicines Ltd. invested $492.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 12.3% from the prior year.
ONC Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B+7.4% | $1.3B+17.7% | $1.1B-0.9% | $1.1B+21.4% | $929.2M+23.6% | $751.7M+18.5% | $634.4M-18.8% | $781.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $96.3M |
| Gross Profit | $1.2B+5.7% | $1.2B+20.8% | $952.3M-1.5% | $967.3M+22.3% | $791.0M+26.2% | $626.7M+18.6% | $528.6M-22.8% | $685.0M |
| R&D Expenses | $523.7M-0.2% | $524.9M+8.9% | $481.9M-11.1% | $542.0M+19.3% | $454.5M-1.3% | $460.6M-6.8% | $494.0M+9.0% | $453.3M |
| SG&A Expenses | $529.0M-1.7% | $537.9M+17.1% | $459.3M-9.0% | $504.7M+13.7% | $443.7M+3.8% | $427.4M+2.1% | $418.8M+14.5% | $365.7M |
| Operating Income | $163.1M+85.6% | $87.9M+691.6% | $11.1M+114.0% | -$79.4M+25.9% | -$107.2M+59.0% | -$261.3M+31.9% | -$383.8M-186.5% | -$134.0M |
| Interest Expense | $12.7M+5.0% | $12.0M-7.0% | $13.0M+86.6% | $6.9M-47.5% | $13.2M+6.7% | $12.4M+163.6% | $4.7M-29.0% | $6.6M |
| Income Tax | $22.3M+326.9% | $5.2M-73.4% | $19.6M-70.5% | $66.5M+359.3% | $14.5M+87.5% | $7.7M-54.0% | $16.8M+20.5% | $13.9M |
| Net Income | $124.8M+32.4% | $94.3M+7326.8% | $1.3M+100.8% | -$151.9M-26.1% | -$120.4M+52.1% | -$251.2M+31.7% | -$367.6M-270.6% | $215.4M |
| EPS (Diluted) | $0.08+33.3% | $0.06 | $0.00+100.0% | $-0.10-11.1% | $-0.09+52.6% | $-0.19+26.9% | $-0.26-273.3% | $0.15 |
ONC Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $7.6B+21.2% | $6.3B+7.8% | $5.8B-1.3% | $5.9B+3.7% | $5.7B+0.8% | $5.7B-2.4% | $5.8B+5.1% | $5.5B |
| Current Assets | $5.7B+31.4% | $4.3B+10.6% | $3.9B-2.4% | $4.0B+4.0% | $3.8B-1.8% | $3.9B-7.0% | $4.2B+3.7% | $4.1B |
| Cash & Equivalents | $4.0B+46.5% | $2.8B+9.5% | $2.5B-4.2% | $2.6B+1.3% | $2.6B-7.2% | $2.8B-11.9% | $3.2B+3.4% | $3.1B |
| Inventory | $531.7M+5.7% | $502.9M+1.7% | $494.7M-0.1% | $495.0M+11.7% | $443.3M-0.9% | $447.3M+7.5% | $416.1M+31.3% | $316.9M |
| Accounts Receivable | $863.3M+12.0% | $770.8M+7.5% | $717.2M+6.1% | $676.3M+27.7% | $529.4M+21.6% | $435.3M+21.6% | $358.0M+15.8% | $309.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $3.5B+38.6% | $2.5B+7.9% | $2.3B-9.5% | $2.6B+10.3% | $2.3B+1.7% | $2.3B+1.7% | $2.3B+28.7% | $1.8B |
| Current Liabilities | $2.4B+7.2% | $2.2B+11.4% | $2.0B-10.4% | $2.2B+14.2% | $1.9B+3.0% | $1.9B+4.0% | $1.8B+41.1% | $1.3B |
| Long-Term Debt | N/A | $146.1M-8.8% | $160.2M-3.8% | $166.5M-10.1% | $185.3M-6.9% | $199.0M+0.7% | $197.6M-2.4% | $202.5M |
| Total Equity | $4.1B+9.5% | $3.8B+7.7% | $3.5B+5.0% | $3.3B-1.0% | $3.4B+0.2% | $3.4B-5.0% | $3.5B-6.0% | $3.8B |
| Retained Earnings | -$8.4B+1.5% | -$8.5B+1.1% | -$8.6B0.0% | -$8.6B-3.3% | -$8.3B-1.5% | -$8.2B-3.2% | -$8.0B-4.8% | -$7.6B |
ONC Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $402.6M+52.7% | $263.6M+498.0% | $44.1M-41.3% | $75.2M+178.6% | -$95.6M+69.0% | -$308.6M-39.2% | -$221.6M-183.6% | -$78.2M |
| Capital Expenditures | $48.1M+9.7% | $43.8M-22.3% | $56.4M-39.0% | $92.5M-15.9% | $110.0M-29.8% | $156.6M-0.2% | $157.0M-0.6% | $157.9M |
| Free Cash Flow | $354.5M+61.3% | $219.8M+1883.1% | -$12.3M+28.8% | -$17.3M+91.6% | -$205.5M+55.8% | -$465.1M-22.9% | -$378.6M-60.4% | -$236.0M |
| Investing Cash Flow | -$49.3M+26.0% | -$66.6M+45.4% | -$121.9M-30.3% | -$93.6M+15.7% | -$111.0M+47.1% | -$209.8M-235.3% | -$62.6M+66.4% | -$186.3M |
| Financing Cash Flow | $961.3M+2644.5% | $35.0M+203.7% | -$33.8M-646.8% | -$4.5M-119.7% | $23.0M-85.8% | $162.3M-53.2% | $347.0M+552.0% | -$76.8M |
| 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 |
ONC Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.1%-1.4pp | 87.5%+2.3pp | 85.2%-0.5pp | 85.8%+0.6pp | 85.1%+1.7pp | 83.4%+0.1pp | 83.3%-4.3pp | 87.7% |
| Operating Margin | 11.6%+4.9pp | 6.7%+5.7pp | 1.0%+8.0pp | -7.0%+4.5pp | -11.5%+23.2pp | -34.8%+25.7pp | -60.5%-43.4pp | -17.2% |
| Net Margin | 8.8%+1.7pp | 7.2%+7.1pp | 0.1%+13.6pp | -13.5%-0.5pp | -13.0%+20.5pp | -33.4%+24.5pp | -57.9%-85.5pp | 27.6% |
| Return on Equity | 3.0%+0.5pp | 2.5%+2.5pp | 0.0% | N/A | N/A | N/A | N/A | 5.7% |
| Return on Assets | 1.6%+0.1pp | 1.5%+1.5pp | 0.0%+2.6pp | -2.6%-0.5pp | -2.1%+2.3pp | -4.4%+1.9pp | -6.3%-10.2pp | 3.9% |
| Current Ratio | 2.39+0.4 | 1.95-0.0 | 1.96+0.2 | 1.80-0.2 | 1.98-0.1 | 2.08-0.2 | 2.32-0.8 | 3.16 |
| Debt-to-Equity | 0.85+0.8 | 0.040.0 | 0.050.0 | 0.050.0 | 0.060.0 | 0.060.0 | 0.060.0 | 0.05 |
| FCF Margin | 25.1%+8.4pp | 16.7%+17.8pp | -1.1%+0.4pp | -1.5%+20.6pp | -22.1%+39.8pp | -61.9%-2.2pp | -59.7%-29.5pp | -30.2% |
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Frequently Asked Questions
What is BeOne Medicines Ltd.'s annual revenue?
BeOne Medicines Ltd. (ONC) reported $3.8B in total revenue for fiscal year 2024. This represents a 55.0% 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 BeOne Medicines Ltd.'s revenue growing?
BeOne Medicines Ltd. (ONC) revenue grew by 55% year-over-year, from $2.5B to $3.8B in fiscal year 2024.
Is BeOne Medicines Ltd. profitable?
No, BeOne Medicines Ltd. (ONC) reported a net income of -$644.8M in fiscal year 2024, with a net profit margin of -16.9%.
What is BeOne Medicines Ltd.'s earnings per share (EPS)?
BeOne Medicines Ltd. (ONC) reported diluted earnings per share of $-0.47 for fiscal year 2024. This represents a 27.7% 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.
What is BeOne Medicines Ltd.'s EBITDA?
BeOne Medicines Ltd. (ONC) had EBITDA of -$396.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does BeOne Medicines Ltd. have?
As of fiscal year 2024, BeOne Medicines Ltd. (ONC) had $2.6B in cash and equivalents against $166.5M in long-term debt.
What is BeOne Medicines Ltd.'s gross margin?
BeOne Medicines Ltd. (ONC) had a gross margin of 84.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is BeOne Medicines Ltd.'s operating margin?
BeOne Medicines Ltd. (ONC) had an operating margin of -14.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is BeOne Medicines Ltd.'s net profit margin?
BeOne Medicines Ltd. (ONC) had a net profit margin of -16.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is BeOne Medicines Ltd.'s free cash flow?
BeOne Medicines Ltd. (ONC) generated -$633.3M in free cash flow during fiscal year 2024. This represents a 63.2% 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 BeOne Medicines Ltd.'s operating cash flow?
BeOne Medicines Ltd. (ONC) generated -$140.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are BeOne Medicines Ltd.'s total assets?
BeOne Medicines Ltd. (ONC) had $5.9B in total assets as of fiscal year 2024, including both current and long-term assets.
What are BeOne Medicines Ltd.'s capital expenditures?
BeOne Medicines Ltd. (ONC) invested $492.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does BeOne Medicines Ltd. spend on research and development?
BeOne Medicines Ltd. (ONC) invested $2.0B in research and development during fiscal year 2024.
How many shares does BeOne Medicines Ltd. have outstanding?
BeOne Medicines Ltd. (ONC) had 1.39B shares outstanding as of fiscal year 2024.
What is BeOne Medicines Ltd.'s current ratio?
BeOne Medicines Ltd. (ONC) had a current ratio of 1.80 as of fiscal year 2024, which is generally considered healthy.
What is BeOne Medicines Ltd.'s debt-to-equity ratio?
BeOne Medicines Ltd. (ONC) had a debt-to-equity ratio of 0.05 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is BeOne Medicines Ltd.'s return on assets (ROA)?
BeOne Medicines Ltd. (ONC) had a return on assets of -10.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is BeOne Medicines Ltd.'s cash runway?
Based on fiscal year 2024 data, BeOne Medicines Ltd. (ONC) had $2.6B in cash against an annual operating cash burn of $140.6M. This gives an estimated cash runway of approximately 224 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 BeOne Medicines Ltd.'s Piotroski F-Score?
BeOne Medicines Ltd. (ONC) 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 BeOne Medicines Ltd.'s earnings high quality?
BeOne Medicines Ltd. (ONC) has an earnings quality ratio of 0.22x, 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 BeOne Medicines Ltd. cover its interest payments?
BeOne Medicines Ltd. (ONC) has an interest coverage ratio of -12.1x, 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 BeOne Medicines Ltd.?
BeOne Medicines Ltd. (ONC) scores 50 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.