Recent News
On August 20, 2025 the company announced completion of patient enrollment in SANOVO, a China Phase III study of ORPATHYS® (savolitinib) plus TAGRISSO® (osimertinib) for first-line treatment in certain EGFR‑mutant NSCLC patients; last patient enrolled August 18, 2025.
On August 25, 2025 HUTCHMED named Mr. Johnny Cheng as Acting Chief Executive Officer while Dr. Weiguo Su takes a leave of absence for health reasons.
On September 5, 2025 the company highlighted new and updated clinical data scheduled for presentation at the 2025 World Conference of Lung Cancer and the CSCO Annual Meeting.
On September 12, 2025 HUTCHMED announced a Research & Development update to be presented on October 31, 2025, covering its Antibody Targeted Therapy Conjugates platform and late‑stage pipeline progress.
Technical Analysis
ADX at 10.68 indicates no trend; momentum strength lacks conviction and favors range conditions rather than a sustained directional move.
DI+ stands at 31.30 with a decreasing trend, while DI‑ reads 33.39 with a peak & reversal. Those directional indicator signals together imply recent bullish pressure from a retreating negative directional line but weakening positive directional strength, creating short‑term tug‑of‑war pressure on price that aligns with a non‑trending ADX.
MACD registers -0.07 with a dip & reversal trend and a signal line of -0.03; MACD rising from a trough suggests building bullish momentum, although MACD remains below its signal line and therefore has not produced a bullish crossover yet.
MRO sits at -9.83 with a dip & reversal trend, which indicates the price currently sits below the model target and carries potential upward pressure toward the target level.
RSI at 49.21 with a dip & reversal trend signals a recovery attempt from lower momentum while remaining neutral overall; this supports the possibility of a modest rebound rather than a decisive breakout.
Price closed at $15.98, above the 200‑day average of $15.28 but below the 20‑day ($16.16) and 50‑day ($16.31) averages; the 12‑day EMA shows a decreasing trend, so short‑term moving averages remain resistive while longer‑term average suggests upward bias. The price sits inside the Bollinger band range ($15.56–$16.76), nearer the lower band and below the super trend upper resistance at $16.72, consistent with limited upside room absent a catalyst.
Volume at 66,817 runs slightly above the 10‑day average of 57,855 but below the 200‑day average of 76,658, indicating limited conviction behind recent intraday moves.
Fundamental Analysis
Liquidity and capital structure: cash and short‑term investments total $1,364,520,000 and the cash ratio stands at 3.99x while the current ratio registers 4.65x (up 64.19% QoQ and up 70.87% YoY). Those liquidity metrics position the company well to fund R&D and trial activities without near‑term refinancing pressure. Debt remains modest: total debt $93,444,000, debt to assets 5.26%, and debt to equity 7.60%.
Profitability and cash flow: operating cash flow of $9,774,000 produces an operating cash flow ratio of 2.85%, reflecting early‑stage commercial and R&D cash dynamics rather than high free cash generation at scale.
Top‑line growth: year‑over‑year revenue growth registers +40.12% while quarter‑over‑quarter revenue change rounds to 0.0%, indicating material YoY expansion with flat sequential performance for the most recent period.
Valuation: price‑to‑book at 10.38 sits above the industry peer mean of 5.19 and the industry peer median of 6.22 while remaining below the industry peer high of 16.59; price‑to‑forward earnings at ~427.5x reflects outsized earnings multiples. Book value per share measures $1.43 and market capitalization equals $12,758,637,715. WMDST values the stock as over‑valued, a conclusion supported by the elevated price multiples versus industry peer mean and median despite strong cash reserves and low leverage.
Balance sheet activity: asset growth rate at 39.38% and total current assets $1,592,327,000 offset total current liabilities $342,414,000, yielding net working capital of $1,249,913,000. Changes in leverage show debt to assets rose QoQ by 186.91% and rose YoY by 91.97%, reflecting recent financing or reclassification events but absolute leverage remains low.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-06-17 |
| NEXT REPORT DATE: | 2025-09-16 |
| CASH FLOW | Begin Period Cash Flow | — |
| Operating Cash Flow | $ 9.8 M | |
| Capital Expenditures | — | |
| Change In Working Capital | — | |
| Dividends Paid | — | |
| Cash Flow Delta | — | |
| End Period Cash Flow | — | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | — | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | — | |
| Depreciation and Amortization | — | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | — | |
| Tax Provision | — | |
| Tax Rate | — | |
| Net Income | — | |
| Net Income From Continuing Operations | — | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | $ 0.04 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.8 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.2 B | |
| Total Current Assets | $ 1.6 B | |
| Cash and Short-Term Investments | $ 1.4 B | |
| Cash | — | |
| Net Receivables | $ 147.0 M | |
| Inventory | — | |
| Long-Term Investments | $ 85.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 43.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 342.4 M | |
| Net Debt | $ 93.4 M | |
| Total Debt | $ 93.4 M | |
| Total Liabilities | $ 534.0 M | |
| EQUITY | ||
| Total Equity | $ 1.2 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 1.43 | |
| Shares Outstanding | 859.301 M | |
| Revenue Per-Share | — | |
| VALUATION | Market Capitalization | $ 12.8 B |
| Enterprise Value | $ 11.5 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.445 | |
| Asset To Liability | 3.326 | |
| Debt To Capital | 0.071 | |
| Debt To Assets | 0.053 | |
| Debt To Assets QoQ | 186.914 % | |
| Debt To Assets YoY | 91.974 % | |
| Debt To Assets IPRWA | high: 0.995 mean: 0.188 median: 0.062 HCM: 0.053 low: 0.0 |
|
| Debt To Equity | 0.076 | |
| Debt To Equity QoQ | 147.172 % | |
| Debt To Equity YoY | 58.33 % | |
| Debt To Equity IPRWA | high: 1.706 mean: 0.251 HCM: 0.076 median: 0.059 low: -1.039 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 10.381 | |
| Price To Book QoQ | -39.939 % | |
| Price To Book YoY | -47.033 % | |
| Price To Book IPRWA | high: 16.592 HCM: 10.381 median: 6.22 mean: 5.194 low: -10.064 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | — | |
| Price To Sales QoQ | — | |
| Price To Sales YoY | — | |
| Price To Sales IPRWA | — | |
| FORWARD MULTIPLES | ||
| Forward P/E | 427.531 | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | — | |
| Asset Turnover Ratio QoQ | — | |
| Asset Turnover Ratio YoY | — | |
| Asset Turnover Ratio IPRWA | — | |
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 1258.184 median: 205.05 mean: 202.872 HCM: 0 low: -1350.846 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | — | |
| CapEx To Depreciation | — | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.3 B | |
| Net Invested Capital | $ 1.3 B | |
| Invested Capital | $ 1.3 B | |
| Net Tangible Assets | $ 1.2 B | |
| Net Working Capital | $ 1.2 B | |
| LIQUIDITY | ||
| Cash Ratio | 3.985 | |
| Current Ratio | 4.65 | |
| Current Ratio QoQ | 64.185 % | |
| Current Ratio YoY | 70.873 % | |
| Current Ratio IPRWA | high: 25.128 HCM: 4.65 mean: 3.923 median: 2.52 low: 0.021 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 0.62 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | 0.029 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 39.377 % | |
| Revenue Growth | -100.0 % | |
| Revenue Growth QoQ | -0.0 % | |
| Revenue Growth YoY | 40.115 % | |
| Revenue Growth IPRWA | high: 269.352 % mean: 21.62 % median: 12.272 % HCM: -100.0 % low: -259.856 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | — | |
| Free Cash Flow Yield | — | |
| Free Cash Flow Yield QoQ | — | |
| Free Cash Flow Yield YoY | — | |
| Free Cash Flow Yield IPRWA | — | |
| Free Cash Growth | — | |
| Free Cash Growth QoQ | — | |
| Free Cash Growth YoY | — | |
| Free Cash Growth IPRWA | — | |
| Free Cash To Net Income | — | |
| Cash Flow Margin | — | |
| Cash Flow To Earnings | — | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | — | |
| Return On Assets QoQ | — | |
| Return On Assets YoY | — | |
| Return On Assets IPRWA | — | |
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | — | |
| Return On Equity QoQ | — | |
| Return On Equity YoY | — | |
| Return On Equity IPRWA | — | |
| DuPont ROE | — | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |