BeOne Medicines (ONC) Financials

$297.49 +0.35 (+0.12%)

Closing price 04:00 PM Eastern

Extended Trading

$297.23 -0.26 (-0.09%)

As of 04:15 PM Eastern

Annual Income Statements for BeOne Medicines

This table shows BeOne Medicines' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-57	-119	-93	-674	-949	-1,625	-1,458	-2,004	-882	-645	287
Consolidated Net Income / (Loss)	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645	287
Net Income / (Loss) Continuing Operations	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645	287
Total Pre-Tax Income	-57	-119	-91	-690	-944	-1,618	-1,439	-1,961	-826	-533	417
Total Operating Income	-57	-117	-98	-706	-960	-1,658	-1,439	-1,790	-1,208	-568	447
Total Gross Profit	8.82	1.07	233	170	357	238	1,011	1,129	2,079	3,216	4,674
Total Revenue	8.82	1.07	238	198	428	309	1,176	1,416	2,459	3,810	5,343
Operating Revenue	8.82	1.07	238	198	428	309	1,176	1,416	2,459	3,810	5,343
Total Cost of Revenue	0.00	0.00	4.97	29	71	71	165	286	380	594	669
Operating Cost of Revenue	0.00	0.00	4.97	29	71	71	165	286	380	594	669
Total Operating Expenses	66	118	332	875	1,317	1,896	2,450	2,919	3,287	3,784	4,227
Selling, General & Admin Expense	7.31	20	63	195	388	600	990	1,279	1,508	1,831	2,081
Research & Development Expense	58	98	269	679	927	1,295	1,459	1,641	1,779	1,953	2,146
Total Other Income / (Expense), net	-0.36	-2.10	7.39	16	16	39	0.15	-171	382	35	-30
Interest Expense	-0.56	-0.38	4.11	-14	-9.13	-2.00	16	-	4.36	22	58
Interest & Investment Income	-	-	-	-	-	-	-	52	78	70	71
Other Income / (Expense), net	-0.92	-2.49	12	1.99	7.17	37	16	-224	308	-13	-43
Income Tax Expense	0.00	0.05	2.24	-16	6.99	10	19	43	56	112	130
Basic Earnings per Share	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.50)	($1.21)	($1.49)	($0.65)	($0.47)	$0.20
Weighted Average Basic Shares Outstanding	110.60M	31.05M	543.19M	55.44M	780.70M	1.09B	1.21B	1.34B	1.36B	1.37B	1.42B
Diluted Earnings per Share	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.50)	($1.21)	($1.49)	($0.65)	($0.47)	$0.19
Weighted Average Diluted Shares Outstanding	110.60M	31.05M	543.19M	55.44M	780.70M	1.09B	1.21B	1.34B	1.36B	1.37B	1.47B
Weighted Average Basic & Diluted Shares Outstanding	110.60M	434.67M	543.19M	776.20M	120.11M	166.94M	185.57M	206.27M	208.77M	210.58M	222.51M

This table shows BeOne Medicines' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-381	215	-368	-251	-120	-121	-152	1.27	94	125	67
Consolidated Net Income / (Loss)	-381	215	-368	-251	-120	-121	-152	1.27	94	125	67
Net Income / (Loss) Continuing Operations	-381	215	-368	-251	-120	-121	-152	1.27	94	125	67
Total Pre-Tax Income	-367	229	-351	-243	-106	-98	-85	21	100	147	149
Total Operating Income	-319	-134	-384	-261	-107	-120	-79	11	88	163	185
Total Gross Profit	499	685	529	627	791	831	967	952	1,151	1,216	1,356
Total Revenue	595	781	634	752	929	1,002	1,128	1,117	1,315	1,412	1,498
Operating Revenue	595	781	634	752	929	1,002	1,128	1,117	1,315	1,412	1,498
Total Cost of Revenue	96	96	106	125	138	170	161	165	165	197	142
Operating Cost of Revenue	96	96	106	125	138	170	161	165	165	197	142
Total Operating Expenses	818	819	912	888	898	951	1,047	941	1,063	1,053	1,171
Selling, General & Admin Expense	395	366	419	427	444	455	505	459	538	529	555
Research & Development Expense	423	453	494	461	454	496	542	482	525	524	615
Total Other Income / (Expense), net	-49	363	33	18	1.24	22	-5.93	9.80	12	-16	-36
Interest & Investment Income	-	27	-	16	13	11	-	5.85	3.50	3.03	58
Other Income / (Expense), net	-64	337	17	1.76	-12	11	-14	3.95	8.17	-19	-36
Income Tax Expense	14	14	17	7.72	14	23	67	20	5.23	22	83
Basic Earnings per Share	($0.28)	$0.16	($0.27)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.07	$0.09	$0.04
Weighted Average Basic Shares Outstanding	1.36B	1.36B	1.36B	1.36B	1.36B	1.38B	1.37B	1.39B	1.41B	1.43B	1.42B
Diluted Earnings per Share	($0.28)	$0.15	($0.26)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.06	$0.08	$0.05
Weighted Average Diluted Shares Outstanding	1.36B	1.39B	1.36B	1.36B	1.36B	1.38B	1.37B	1.45B	1.46B	1.49B	1.47B
Weighted Average Basic & Diluted Shares Outstanding	209.27M	211.62M	208.77M	208.55M	209.40M	211.81M	210.58M	218.10M	220.88M	224.73M	222.51M

This table details how cash moves in and out of BeOne Medicines' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	3.97	70	152	505	-120	769	2,993	-508	-689	-547	1,971
Net Cash From Operating Activities	-40	-90	13	-548	-750	-1,283	-1,299	-1,497	-1,157	-141	1,128
Net Cash From Continuing Operating Activities	-40	-90	13	-548	-750	-1,283	-1,299	-1,497	-1,157	-141	1,128
Net Income / (Loss) Continuing Operations	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645	287
Consolidated Net Income / (Loss)	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645	287
Depreciation Expense	1.55	1.91	4.76	10	19	32	46	66	88	172	142
Amortization Expense	-	0.00	-	0.00	0.00	-114	-112	-96	-55	-73	-101
Non-Cash Adjustments To Reconcile Net Income	13	14	50	157	203	281	317	394	68	526	603
Changes in Operating Assets and Liabilities, net	2.26	14	51	-41	-21	146	-91	143	-376	-120	197
Net Cash From Investing Activities	-59	-222	-356	-638	554	-3,168	641	1,077	60	-548	-276
Net Cash From Continuing Investing Activities	-59	-222	-356	-638	554	-3,168	641	1,077	60	-548	-276
Purchase of Property, Plant & Equipment	-5.31	-24	-46	-70	-90	-118	-263	-325	-562	-493	-186
Acquisitions	-	0.00	0.00	-109	-69	-110	-52	-144	-34	-36	-81
Purchase of Investments	-119	-382	-741	-2,636	-1,169	-5,690	-2,191	-16	-15	-19	-12
Sale and/or Maturity of Investments	66	184	424	2,177	1,882	2,751	3,147	1,564	673	2.66	3.45
Other Investing Activities, net	0.00	0.00	-12	-	0.00	-2.03	-	-1.49	-2.08	-2.86	-1.24
Net Cash From Financing Activities	103	381	490	1,691	86	5,203	3,637	-19	416	193	1,059
Net Cash From Continuing Financing Activities	103	381	490	1,691	86	5,203	3,637	-19	416	193	1,059
Repayment of Debt	-0.32	0.00	-2.47	-8.74	-33	-144	-322	-417	-323	-729	-1,104
Issuance of Debt	6.18	381	135	912	67	434	423	351	684	877	1,995
Issuance of Common Equity	0.00	0.00	354	787	51	4,325	3,535	47	56	45	196
Other Financing Activities, net	0.08	2.20	4.63	0.00	0.00	588	-	-	0.00	0.00	-28
Effect of Exchange Rate Changes	-0.49	0.10	5.30	-	-	-	14	-69	-8.08	-52	60
Cash Interest Paid	0.13	0.83	1.26	2.21	4.32	44	30	25	20	51	52

This table details how cash moves in and out of BeOne Medicines' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	-122	-341	105	-379	-190	95	-75	-108	255	1,324	499
Net Cash From Operating Activities	-294	-78	-222	-309	-96	188	75	44	264	403	417
Net Cash From Continuing Operating Activities	-294	-78	-222	-309	-96	188	75	44	264	403	417
Net Income / (Loss) Continuing Operations	-381	215	-368	-251	-120	-121	-152	1.27	94	125	67
Consolidated Net Income / (Loss)	-381	215	-368	-251	-120	-121	-152	1.27	94	125	67
Depreciation Expense	22	22	24	25	25	71	50	33	36	37	36
Amortization Expense	-5.27	-16	-17	-13	-22	-17	-22	-20	-26	-29	-26
Non-Cash Adjustments To Reconcile Net Income	103	-252	141	89	131	118	192	95	151	175	181
Changes in Operating Assets and Liabilities, net	-32	-47	-2.12	-158	-109	137	6.77	-66	8.11	94	160
Net Cash From Investing Activities	68	-186	-63	-210	-111	-134	-94	-122	-67	-49	-38
Net Cash From Continuing Investing Activities	68	-186	-63	-210	-111	-134	-94	-122	-67	-49	-38
Purchase of Property, Plant & Equipment	-121	-158	-157	-157	-110	-134	-92	-56	-44	-48	-38
Sale and/or Maturity of Investments	191	0.02	106	2.66	-	-	-	1.80	-	-	1.65
Other Investing Activities, net	-1.27	-4.00	14	-19	-1.08	-0.23	18	-7.33	-2.78	-0.50	9.38
Net Cash From Financing Activities	166	-77	347	162	23	13	-4.52	-34	35	961	97
Net Cash From Continuing Financing Activities	166	-77	347	162	23	13	-4.52	-34	35	961	97
Repayment of Debt	-15	-101	-155	-3.58	-165	-3.56	-557	-177	-115	-4.26	-807
Issuance of Debt	178	7.50	499	151	182	-	544	80	142	885	889
Issuance of Common Equity	3.58	17	3.36	15	5.56	16	8.80	63	33	81	19
Other Financing Activities, net	-	-	-	-	-	-	-	-	-	-	-4.04
Effect of Exchange Rate Changes	-	-	42	-22	-5.90	28	-52	3.48	23	9.91	23
Cash Interest Paid	5.00	5.88	3.86	11	13	14	13	12	12	12	16

This table presents BeOne Medicines' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	117	406	1,046	2,250	1,612	5,601	8,536	6,379	5,805	5,921	8,189
Total Current Assets	106	374	913	1,944	1,173	4,961	7,614	5,207	4,203	3,992	6,234
Cash & Equivalents	18	88	240	713	618	1,382	4,376	3,870	3,172	2,627	4,548
Accounts Receivable	-	0.00	29	41	71	60	483	173	358	676	865
Inventories, net	-	0.00	11	16	29	89	243	282	416	495	608
Prepaid Expenses	5.78	6.23	36	91	90	160	270	217	257	193	213
Plant, Property, & Equipment, net	6.61	26	63	157	242	358	588	846	1,324	1,578	1,642
Total Noncurrent Assets	3.88	5.44	70	149	197	282	334	326	278	351	313
Intangible Assets	-	0.00	7.25	7.17	5.85	5.00	47	41	57	51	63
Other Noncurrent Operating Assets	3.88	4.67	55	99	151	204	280	286	221	300	251
Total Liabilities & Shareholders' Equity	117	406	1,046	2,250	1,612	5,601	8,536	6,379	5,805	5,921	8,189
Total Liabilities	42	53	362	496	634	1,732	2,403	1,996	2,268	2,589	3,827
Total Current Liabilities	35	35	150	246	310	1,075	1,600	1,469	1,810	2,215	1,829
Short-Term Debt	15	0.00	9.22	8.73	0.00	335	428	329	688	852	57
Accounts Payable	8.98	12	119	113	122	232	262	295	315	405	479
Accrued Expenses	8.35	22	-	100	164	346	558	467	694	804	1,109
Current Deferred & Payable Income Tax Liabilities	0.00	0.80	9.16	5.89	13	20	21	25	23	26	42
Other Current Liabilities	2.17	-	-	-	11	142	143	138	90	129	142
Total Noncurrent Liabilities	7.27	18	212	250	324	656	803	527	458	374	1,999
Long-Term Debt	6.19	17	9.22	41	83	184	202	209	198	166	962
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	0.00	11	11	11	14	16	16	42	53
Other Noncurrent Operating Liabilities	0.11	0.56	32	49	72	462	367	260	244	165	983
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-102	353	684	1,754	978	3,869	6,133	4,383	3,537	3,332	4,361
Total Preferred & Common Equity	-102	353	670	1,739	962	3,869	6,133	4,383	3,537	3,332	4,361
Total Common Equity	-102	353	670	1,739	962	3,869	6,133	4,383	3,537	3,332	4,361
Common Stock	18	591	1,001	2,745	2,926	7,415	11,191	11,541	11,599	12,088	12,759
Retained Earnings	-118	-237	-331	-1,007	-1,956	-3,553	-5,077	-7,080	-7,962	-8,607	-8,320
Accumulated Other Comprehensive Income / (Loss)	-1.81	-0.95	-0.48	1.53	-8.00	6.94	18	-77	-99	-149	-78

This table presents BeOne Medicines' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	6,726	5,957	5,729	5,525	5,668	5,712	5,831	5,842	6,298	7,633
Total Current Assets	5,749	4,704	4,401	4,054	3,908	3,839	3,912	3,896	4,310	5,664
Cash & Equivalents	4,197	3,539	3,410	3,067	2,793	2,593	2,702	2,516	2,756	4,037
Accounts Receivable	189	310	299	309	435	529	569	717	771	863
Inventories, net	291	297	321	317	447	443	432	495	503	532
Prepaid Expenses	200	265	255	242	232	274	209	168	281	233
Plant, Property, & Equipment, net	682	925	1,032	1,178	1,418	1,516	1,563	1,599	1,616	1,628
Total Noncurrent Assets	295	327	295	293	342	357	356	346	372	340
Intangible Assets	41	40	47	54	55	54	54	50	65	64
Other Noncurrent Operating Assets	251	282	247	240	287	303	302	296	307	276
Total Liabilities & Shareholders' Equity	6,726	5,957	5,729	5,525	5,668	5,712	5,831	5,842	6,298	7,633
Total Liabilities	2,071	1,799	1,930	1,762	2,307	2,346	2,395	2,342	2,528	3,503
Total Current Liabilities	1,411	1,255	1,405	1,283	1,882	1,939	2,025	1,984	2,210	2,368
Short-Term Debt	441	282	421	329	827	852	864	763	808	866
Accounts Payable	252	241	267	342	357	333	308	364	361	384
Accrued Expenses	410	418	455	506	569	647	717	692	909	1,002
Current Deferred & Payable Income Tax Liabilities	23	34	17	20	27	5.28	15	34	5.54	11
Other Current Liabilities	140	94	86	87	101	102	122	129	126	106
Total Noncurrent Liabilities	660	545	525	478	426	407	369	358	318	1,135
Long-Term Debt	208	206	207	202	199	185	188	160	146	972
Noncurrent Deferred & Payable Income Tax Liabilities	15	16	16	16	16	16	16	43	44	47
Other Noncurrent Operating Liabilities	286	285	278	259	210	206	166	155	128	115
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	4,655	4,157	3,799	3,763	3,360	3,366	3,436	3,500	3,770	4,129
Total Preferred & Common Equity	4,655	4,157	3,799	3,763	3,360	3,366	3,436	3,500	3,770	4,129
Total Common Equity	4,655	4,157	3,799	3,763	3,360	3,366	3,436	3,500	3,770	4,129
Common Stock	11,452	11,645	11,752	11,503	11,705	11,840	11,975	12,247	12,395	12,617
Retained Earnings	-6,635	-7,429	-7,810	-7,594	-8,213	-8,334	-8,455	-8,606	-8,511	-8,386
Accumulated Other Comprehensive Income / (Loss)	-162	-59	-144	-145	-132	-140	-84	-142	-114	-101

This table displays calculated financial ratios and metrics derived from BeOne Medicines' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-32.37%	-87.86%	22,179.16%	-16.85%	116.03%	-27.87%	280.83%	20.37%	73.65%	54.96%	40.23%
EBITDA Growth	-243.01%	-109.63%	30.13%	-743.56%	-34.72%	-82.25%	12.54%	-37.26%	57.55%	44.40%	192.30%
EBIT Growth	-221.82%	-107.33%	27.26%	-709.35%	-35.37%	-70.06%	12.18%	-41.51%	55.31%	35.45%	169.66%
NOPAT Growth	-260.13%	-106.29%	15.89%	-616.83%	-36.01%	-72.69%	13.21%	-24.39%	32.52%	52.95%	177.38%
Net Income Growth	-207.89%	-108.78%	21.74%	-622.44%	-41.03%	-71.33%	10.49%	-37.45%	56.00%	26.87%	144.50%
EPS Growth	-188.89%	42.31%	43.33%	-447.06%	-31.18%	-22.95%	19.33%	-23.14%	56.38%	27.69%	140.43%
Operating Cash Flow Growth	-358.28%	-124.66%	114.25%	-4,395.15%	-36.98%	-71.07%	-1.19%	-15.24%	22.66%	87.85%	901.80%
Free Cash Flow Firm Growth	0.00%	-160.16%	12.32%	-698.43%	-21.94%	13.98%	-115.75%	-6.11%	-13.89%	49.19%	237.82%
Invested Capital Growth	0.00%	137.48%	466.68%	1,149.56%	63.52%	-215.97%	150.73%	181.28%	223.84%	37.66%	-51.66%
Revenue Q/Q Growth	0.00%	-81.38%	8.25%	25.68%	-0.41%	16.26%	10.72%	13.29%	11.54%	14.88%	7.45%
EBITDA Q/Q Growth	0.00%	-9.78%	-195.27%	-36.67%	-11.86%	-7.94%	-7.29%	6.48%	10.08%	37.99%	100.92%
EBIT Q/Q Growth	0.00%	-9.66%	-180.37%	-36.28%	-11.56%	-6.36%	-8.01%	6.20%	8.36%	32.04%	149.62%
NOPAT Q/Q Growth	0.00%	-10.26%	-208.36%	-33.48%	-12.58%	-6.21%	-6.42%	5.45%	6.56%	34.88%	347.96%
Net Income Q/Q Growth	0.00%	-9.51%	-195.09%	-33.05%	-14.61%	-7.44%	-7.77%	7.42%	8.11%	25.06%	318.57%
EPS Q/Q Growth	0.00%	34.78%	-54.55%	-29.17%	-12.96%	0.00%	0.00%	10.24%	9.72%	25.40%	375.00%
Operating Cash Flow Q/Q Growth	0.00%	-11.70%	111.90%	-110.60%	-10.83%	-5.35%	-15.63%	11.25%	7.70%	67.85%	43.57%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	57.77%	-120.96%	3.69%	-10.53%	-13.31%	-1.48%	3.97%	32.52%	1,672.58%
Invested Capital Q/Q Growth	0.00%	-10.12%	-93.09%	82.34%	-14.56%	-19.98%	78.34%	66.58%	12.91%	-3.51%	-56.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	97.91%	85.52%	83.38%	77.12%	85.98%	79.77%	84.55%	84.41%	87.49%
EBITDA Margin	-636.52%	-10,994.11%	-34.48%	-349.81%	-218.14%	-551.16%	-126.57%	-144.33%	-35.28%	-12.66%	8.33%
Operating Margin	-643.66%	-10,940.19%	-41.30%	-356.05%	-224.16%	-536.69%	-122.31%	-126.40%	-49.12%	-14.91%	8.37%
EBIT Margin	-654.05%	-11,172.52%	-36.48%	-355.05%	-222.49%	-524.55%	-120.96%	-142.21%	-36.60%	-15.24%	7.57%
Profit (Net Income) Margin	-647.71%	-11,141.78%	-39.14%	-340.04%	-221.99%	-527.27%	-123.93%	-141.52%	-35.86%	-16.92%	5.37%
Tax Burden Percent	100.00%	100.05%	102.45%	97.71%	100.74%	100.64%	101.34%	102.18%	106.77%	120.97%	68.83%
Interest Burden Percent	99.03%	99.68%	104.72%	98.02%	99.04%	99.88%	101.11%	97.39%	91.78%	91.76%	103.03%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	31.17%
Return on Invested Capital (ROIC)	0.00%	0.00%	-1,025.06%	-640.55%	-357.05%	0.00%	0.00%	-478.29%	-103.23%	-26.74%	24.09%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-1,020.30%	-624.78%	-333.39%	0.00%	0.00%	-463.26%	-102.07%	-14.06%	24.90%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	1,007.07%	585.25%	287.46%	0.00%	0.00%	440.18%	80.96%	7.97%	-16.63%
Return on Equity (ROE)	-76.83%	-55.81%	-17.99%	-55.30%	-69.59%	-67.19%	-29.15%	-38.11%	-22.26%	-18.77%	7.46%
Cash Return on Invested Capital (CROIC)	0.00%	-4,429.35%	-1,165.06%	-810.91%	-405.26%	0.00%	-1,030.15%	-573.38%	-208.85%	-58.44%	93.73%
Operating Return on Assets (OROA)	-49.38%	-45.75%	-11.98%	-42.70%	-49.34%	-44.92%	-20.13%	-27.00%	-14.77%	-9.91%	5.73%
Return on Assets (ROA)	-48.90%	-45.63%	-12.85%	-40.90%	-49.23%	-45.16%	-20.63%	-26.87%	-14.47%	-11.00%	4.07%
Return on Common Equity (ROCE)	105.21%	-32.81%	-17.74%	-54.64%	-68.81%	-66.97%	-29.15%	-38.11%	-22.26%	-18.77%	7.46%
Return on Equity Simple (ROE_SIMPLE)	56.11%	-33.78%	-13.93%	-38.76%	-98.79%	-42.09%	-23.77%	-45.71%	-24.93%	-19.35%	0.00%
Net Operating Profit after Tax (NOPAT)	-40	-82	-69	-494	-672	-1,160	-1,007	-1,253	-845	-398	308
NOPAT Margin	-450.56%	-7,658.13%	-28.91%	-249.24%	-156.91%	-375.68%	-85.62%	-88.48%	-34.38%	-10.44%	5.76%
Net Nonoperating Expense Percent (NNEP)	-43.61%	-17.31%	-4.76%	-15.76%	-23.66%	-19.17%	-8.89%	-15.03%	-1.16%	-12.68%	-0.81%
Return On Investment Capital (ROIC_SIMPLE)	49.05%	-22.14%	-9.81%	-27.40%	-63.29%	-26.45%	-14.89%	-25.46%	-19.11%	-9.14%	5.72%
Cost of Revenue to Revenue	0.00%	0.00%	2.09%	14.48%	16.62%	22.88%	14.02%	20.23%	15.45%	15.59%	12.51%
SG&A Expenses to Revenue	82.93%	1,878.22%	26.26%	98.57%	90.67%	194.31%	84.17%	90.30%	61.33%	48.06%	38.96%
R&D to Revenue	660.73%	9,161.96%	112.85%	342.55%	216.56%	419.23%	124.06%	115.86%	72.34%	51.26%	40.16%
Operating Expenses to Revenue	743.66%	11,040.19%	139.21%	441.57%	307.54%	613.81%	208.29%	206.16%	133.67%	99.32%	79.12%
Earnings before Interest and Taxes (EBIT)	-58	-120	-87	-704	-953	-1,620	-1,423	-2,014	-900	-581	405
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-56	-118	-82	-693	-934	-1,702	-1,489	-2,044	-867	-482	445
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.84	6.63	4.79	10.45	6.08	4.15	5.21	5.33	5.91	7.71
Price to Tangible Book Value (P/TBV)	0.00	2.84	6.71	4.81	10.51	6.08	4.18	5.26	5.42	6.00	7.82
Price to Revenue (P/Rev)	0.00	937.41	18.64	42.04	23.47	76.12	21.61	16.13	7.67	5.17	6.29
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	117.17
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.85%
Enterprise Value to Invested Capital (EV/IC)	0.00	323.32	318.32	46.22	39.26	0.00	141.43	48.74	13.24	10.50	36.13
Enterprise Value to Revenue (EV/Rev)	0.00	609.48	15.26	33.30	21.41	62.74	16.52	13.30	6.74	4.75	5.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	67.59
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	74.37
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	97.77
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	285.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00	26.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.28	0.05	0.03	0.03	0.09	0.13	0.10	0.12	0.25	0.31	0.23
Long-Term Debt to Equity	0.08	0.05	0.01	0.02	0.09	0.05	0.03	0.05	0.06	0.05	0.22
Financial Leverage	-1.07	-1.01	-0.99	-0.94	-0.86	-1.01	-1.01	-0.95	-0.79	-0.57	-0.67
Leverage Ratio	1.57	1.22	1.40	1.35	1.41	1.49	1.41	1.42	1.54	1.71	1.83
Compound Leverage Factor	1.56	1.22	1.47	1.33	1.40	1.49	1.43	1.38	1.41	1.57	1.89
Debt to Total Capital	21.86%	4.67%	2.62%	2.75%	7.85%	11.82%	9.31%	10.93%	20.03%	23.40%	18.94%
Short-Term Debt to Total Capital	15.35%	0.00%	1.31%	0.48%	0.00%	7.64%	6.32%	6.68%	15.56%	19.57%	1.06%
Long-Term Debt to Total Capital	6.51%	4.67%	1.31%	2.26%	7.85%	4.19%	2.99%	4.25%	4.47%	3.83%	17.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	185.15%	0.00%	2.05%	0.80%	1.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-107.00%	95.33%	95.32%	96.45%	90.63%	88.18%	90.69%	89.07%	79.97%	76.60%	81.06%
Debt to EBITDA	-0.37	-0.15	-0.22	-0.07	-0.09	-0.30	-0.42	-0.26	-1.02	-2.11	2.29
Net Debt to EBITDA	1.42	2.98	9.96	2.52	0.96	2.43	4.02	1.96	2.64	3.34	-7.93
Long-Term Debt to EBITDA	-0.11	-0.15	-0.11	-0.06	-0.09	-0.11	-0.14	-0.10	-0.23	-0.35	2.16
Debt to NOPAT	-0.52	-0.21	-0.27	-0.10	-0.12	-0.45	-0.63	-0.43	-1.05	-2.56	3.31
Net Debt to NOPAT	2.01	4.28	11.88	3.54	1.34	3.56	5.95	3.19	2.70	4.05	-11.46
Long-Term Debt to NOPAT	-0.16	-0.21	-0.13	-0.08	-0.12	-0.16	-0.20	-0.17	-0.23	-0.42	3.13
Altman Z-Score	0.00	10.59	7.75	9.41	6.77	7.19	5.95	5.19	3.48	3.21	5.31
Noncontrolling Interest Sharing Ratio	236.93%	41.22%	1.39%	1.18%	1.12%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.02	10.68	6.09	7.89	3.78	4.61	4.76	3.55	2.32	1.80	3.41
Quick Ratio	2.86	10.50	5.78	7.40	3.40	4.38	4.44	3.21	1.95	1.49	2.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-34	-89	-78	-625	-763	-656	-1,415	-1,502	-1,710	-869	1,198
Operating Cash Flow to CapEx	-749.92%	-380.94%	27.50%	-779.30%	-837.24%	-1,092.23%	-493.92%	-459.88%	-205.99%	-28.55%	606.75%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-19.07	0.00	0.00	0.00	-89.82	0.00	0.00	0.00	20.57
Operating Cash Flow to Interest Expense	0.00	0.00	3.10	0.00	0.00	0.00	-82.42	0.00	0.00	0.00	19.36
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-8.18	0.00	0.00	0.00	-99.11	0.00	0.00	0.00	16.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.00	0.33	0.12	0.22	0.09	0.17	0.19	0.40	0.65	0.76
Accounts Receivable Turnover	0.00	0.00	0.00	5.62	7.65	4.71	4.33	4.32	9.26	7.37	6.93
Inventory Turnover	0.00	0.00	0.00	2.11	3.18	1.20	0.99	1.09	1.09	1.30	1.21
Fixed Asset Turnover	1.33	0.07	5.38	1.81	2.14	1.03	2.49	1.98	2.27	2.63	3.32
Accounts Payable Turnover	0.00	0.00	0.08	0.25	0.60	0.40	0.67	1.03	1.25	1.65	1.51
Days Sales Outstanding (DSO)	0.00	0.00	0.00	64.89	47.71	77.57	84.33	84.59	39.43	49.54	52.65
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	172.75	114.83	304.38	367.33	334.44	335.52	279.89	301.16
Days Payable Outstanding (DPO)	0.00	0.00	4,818.75	1,479.20	604.41	915.50	547.10	354.95	292.97	221.21	241.33
Cash Conversion Cycle (CCC)	0.00	0.00	-4,818.75	-1,241.55	-441.87	-533.54	-95.44	64.07	81.98	108.21	112.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-5.38	2.02	11	143	234	-271	137	386	1,252	1,723	833
Invested Capital Turnover	-3.28	-0.64	35.46	2.57	2.28	-16.57	-17.63	5.41	3.00	2.56	4.18
Increase / (Decrease) in Invested Capital	-5.38	7.40	9.41	131	91	-504	408	249	865	471	-890
Enterprise Value (EV)	0.00	652	3,638	6,601	9,168	19,380	19,432	18,837	16,576	18,084	30,091
Market Capitalization	0.00	1,003	4,443	8,333	10,052	23,512	25,420	22,834	18,861	19,693	33,619
Book Value per Share	($0.92)	$0.82	$1.13	$2.25	$1.22	$3.27	$5.03	$3.25	$2.60	$2.40	$3.03
Tangible Book Value per Share	($0.92)	$0.82	$1.12	$2.24	$1.21	$3.27	$4.99	$3.22	$2.56	$2.37	$2.99
Total Capital	95	370	703	1,803	1,062	4,388	6,762	4,921	4,423	4,350	5,380
Total Debt	21	17	18	50	83	519	630	538	886	1,018	1,019
Total Long-Term Debt	6.19	17	9.22	41	83	184	202	209	198	166	962
Net Debt	-80	-351	-819	-1,746	-900	-4,132	-5,988	-3,997	-2,286	-1,609	-3,528
Capital Expenditures (CapEx)	5.31	23	46	70	90	118	263	325	562	493	186
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-15	-29	-65	-90	-121	-430	-176	-467	-90	0.81	-85
Debt-free Net Working Capital (DFNWC)	86	339	773	1,706	862	4,221	6,442	4,068	3,082	2,628	4,462
Net Working Capital (NWC)	71	339	764	1,697	862	3,885	6,014	3,739	2,393	1,777	4,405
Net Nonoperating Expense (NNE)	17	37	24	180	279	468	451	751	36	247	21
Net Nonoperating Obligations (NNO)	-80	-351	-673	-1,611	-745	-4,140	-5,995	-3,997	-2,286	-1,609	-3,528
Total Depreciation and Amortization (D&A)	1.55	1.91	4.76	10	19	-82	-66	-30	32	99	41
Debt-free, Cash-free Net Working Capital to Revenue	-167.77%	-2,694.67%	-27.18%	-45.34%	-28.17%	-139.37%	-14.97%	-33.02%	-3.67%	0.02%	-1.60%
Debt-free Net Working Capital to Revenue	972.04%	31,714.11%	324.15%	860.72%	201.39%	1,366.42%	547.65%	287.27%	125.33%	68.98%	83.51%
Net Working Capital to Revenue	806.45%	31,714.11%	320.28%	856.32%	201.39%	1,257.95%	511.30%	264.04%	97.34%	46.63%	82.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	($1.17)	($1.49)	($0.65)	($0.47)	$0.20
Adjusted Weighted Average Basic Shares Outstanding	110.60M	518.60M	696.34M	776.11M	1.01B	1.19B	1.21B	1.34B	1.36B	1.37B	1.42B
Adjusted Diluted Earnings per Share	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	($1.17)	($1.49)	($0.65)	($0.47)	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	110.60M	518.60M	696.34M	776.11M	1.01B	1.19B	1.21B	1.34B	1.36B	1.37B	1.47B
Adjusted Basic & Diluted Earnings per Share	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	110.60M	403.62M	543.19M	776.20M	780.70M	1.17B	185.57M	206.27M	208.77M	210.58M	222.51M
Normalized Net Operating Profit after Tax (NOPAT)	-40	-82	-69	-494	-672	-1,160	-1,007	-1,253	-845	-398	308
Normalized NOPAT Margin	-450.56%	-7,658.13%	-28.91%	-249.24%	-156.91%	-375.68%	-85.62%	-88.48%	-34.38%	-10.44%	5.76%
Pre Tax Income Margin	-647.71%	-11,136.73%	-38.20%	-348.01%	-220.35%	-523.90%	-122.30%	-138.50%	-33.59%	-13.99%	7.80%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-21.17	0.00	0.00	0.00	-90.30	0.00	0.00	0.00	6.95
NOPAT to Interest Expense	0.00	0.00	-16.78	0.00	0.00	0.00	-63.92	0.00	0.00	0.00	5.29
EBIT Less CapEx to Interest Expense	0.00	0.00	-32.46	0.00	0.00	0.00	-106.99	0.00	0.00	0.00	3.76
NOPAT Less CapEx to Interest Expense	0.00	0.00	-28.07	0.00	0.00	0.00	-80.60	0.00	0.00	0.00	2.09
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-1.86%	-0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from BeOne Medicines' official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	74.27%	101.56%	66.91%	67.85%	56.09%	28.20%	77.78%	48.64%	41.56%	41.00%	32.84%
EBITDA Growth	36.70%	136.38%	21.27%	29.38%	68.23%	-126.03%	82.07%	111.33%	191.21%	380.55%	346.54%
EBIT Growth	32.77%	135.94%	18.29%	26.45%	68.85%	-153.75%	74.62%	105.80%	180.62%	232.30%	260.31%
NOPAT Growth	27.47%	58.99%	18.10%	29.60%	66.38%	33.10%	79.31%	100.37%	211.01%	264.37%	248.30%
Net Income Growth	32.63%	138.64%	17.47%	27.92%	68.41%	-156.33%	58.68%	100.51%	178.34%	202.88%	143.79%
EPS Growth	33.33%	136.59%	21.21%	26.92%	67.86%	-160.00%	61.54%	100.00%	166.67%	188.89%	150.00%
Operating Cash Flow Growth	22.65%	86.09%	30.34%	45.27%	67.47%	341.04%	133.91%	114.29%	375.76%	113.70%	455.28%
Free Cash Flow Firm Growth	-54.27%	-117.03%	-96.45%	-17.34%	-2.43%	24.05%	53.52%	67.67%	92.38%	99.15%	284.55%
Invested Capital Growth	460.55%	377.78%	223.84%	97.25%	101.22%	61.08%	37.66%	19.70%	8.75%	8.11%	-51.66%
Revenue Q/Q Growth	32.93%	31.25%	-18.80%	18.48%	23.62%	7.80%	12.60%	-0.94%	17.72%	7.37%	6.08%
EBITDA Q/Q Growth	-4.32%	157.00%	-272.81%	31.26%	53.07%	53.30%	-18.98%	143.46%	277.65%	43.66%	4.56%
EBIT Q/Q Growth	-8.38%	152.99%	-281.09%	29.28%	54.10%	8.56%	14.49%	116.16%	538.13%	50.06%	3.61%
NOPAT Q/Q Growth	14.15%	43.60%	-113.50%	31.90%	59.00%	-12.23%	33.96%	101.21%	12,243.07%	66.17%	-40.41%
Net Income Q/Q Growth	-9.39%	156.52%	-270.63%	31.67%	52.06%	-0.78%	-25.16%	100.84%	7,326.77%	32.36%	-46.73%
EPS Q/Q Growth	-7.69%	153.57%	-273.33%	26.92%	52.63%	0.00%	-11.11%	100.00%	0.00%	33.33%	-37.50%
Operating Cash Flow Q/Q Growth	47.87%	73.41%	-183.61%	-39.22%	69.02%	297.06%	-60.10%	-41.35%	497.97%	52.71%	3.68%
Free Cash Flow Firm Q/Q Growth	-16.62%	-4.15%	-13.12%	14.59%	-1.80%	22.78%	30.78%	40.58%	76.01%	91.35%	15,066.04%
Invested Capital Q/Q Growth	11.41%	23.19%	12.91%	27.28%	13.66%	-1.38%	-3.51%	10.67%	3.26%	-1.96%	-56.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.87%	87.67%	83.32%	83.38%	85.13%	82.98%	85.76%	85.23%	87.49%	86.09%	90.49%
EBITDA Margin	-61.40%	26.66%	-56.74%	-32.92%	-12.50%	-5.41%	-5.72%	2.51%	8.05%	10.77%	10.62%
Operating Margin	-53.54%	-17.15%	-60.50%	-34.77%	-11.53%	-12.01%	-7.04%	0.99%	6.68%	11.55%	12.35%
EBIT Margin	-64.26%	25.94%	-57.86%	-34.54%	-12.82%	-10.88%	-8.26%	1.35%	7.30%	10.21%	9.97%
Profit (Net Income) Margin	-64.03%	27.57%	-57.94%	-33.41%	-12.96%	-12.12%	-13.47%	0.11%	7.17%	8.84%	4.44%
Tax Burden Percent	103.72%	93.93%	104.78%	103.17%	113.68%	123.44%	177.95%	6.08%	94.75%	84.83%	44.56%
Interest Burden Percent	96.06%	113.15%	95.57%	93.77%	88.90%	90.23%	91.62%	138.85%	103.64%	102.10%	99.93%
Effective Tax Rate	0.00%	6.07%	0.00%	0.00%	0.00%	0.00%	0.00%	93.92%	5.25%	15.17%	55.44%
Return on Invested Capital (ROIC)	-128.02%	-52.98%	-127.14%	-56.02%	-18.45%	-19.27%	-12.63%	0.14%	15.28%	26.22%	23.01%
ROIC Less NNEP Spread (ROIC-NNEP)	-124.09%	-62.62%	-123.99%	-53.35%	-16.41%	-17.54%	-7.69%	0.11%	14.62%	26.93%	23.63%
Return on Net Nonoperating Assets (RNNOA)	109.63%	52.65%	98.35%	36.32%	10.20%	10.49%	4.36%	-0.05%	-6.88%	-13.70%	-15.78%
Return on Equity (ROE)	-18.39%	-0.33%	-28.79%	-19.70%	-8.25%	-8.78%	-8.27%	0.09%	8.40%	12.52%	7.23%
Cash Return on Invested Capital (CROIC)	-350.31%	-265.77%	-208.85%	-129.46%	-112.99%	-89.00%	-58.44%	-29.76%	-12.11%	-4.10%	93.73%
Operating Return on Assets (OROA)	-17.76%	9.34%	-23.35%	-16.42%	-6.94%	-6.35%	-5.37%	0.98%	5.55%	7.54%	7.55%
Return on Assets (ROA)	-17.69%	9.92%	-23.38%	-15.88%	-7.01%	-7.08%	-8.75%	0.08%	5.45%	6.53%	3.36%
Return on Common Equity (ROCE)	-18.39%	-0.33%	-28.79%	-19.70%	-8.25%	-8.78%	-8.27%	0.09%	8.40%	12.52%	7.23%
Return on Equity Simple (ROE_SIMPLE)	-45.61%	-25.50%	0.00%	-23.34%	-15.56%	-25.04%	0.00%	-11.21%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-223	-126	-269	-183	-75	-84	-56	0.67	83	138	82
NOPAT Margin	-37.48%	-16.11%	-42.35%	-24.34%	-8.07%	-8.41%	-4.93%	0.06%	6.33%	9.80%	5.50%
Net Nonoperating Expense Percent (NNEP)	-3.93%	9.64%	-3.15%	-2.67%	-2.04%	-1.73%	-4.94%	0.04%	0.66%	-0.70%	-0.62%
Return On Investment Capital (ROIC_SIMPLE)	-5.04%	-2.93%	-6.07%	-4.17%	-1.70%	-1.88%	-1.28%	0.02%	1.76%	2.32%	1.53%
Cost of Revenue to Revenue	16.13%	12.33%	16.68%	16.62%	14.87%	17.02%	14.24%	14.77%	12.51%	13.91%	9.51%
SG&A Expenses to Revenue	66.36%	46.81%	66.01%	56.87%	47.76%	45.45%	44.75%	41.11%	40.90%	37.46%	37.06%
R&D to Revenue	71.02%	58.01%	77.87%	61.28%	48.91%	49.54%	48.06%	43.13%	39.91%	37.08%	41.08%
Operating Expenses to Revenue	137.42%	104.82%	143.81%	118.15%	96.67%	94.99%	92.81%	84.24%	80.80%	74.54%	78.14%
Earnings before Interest and Taxes (EBIT)	-383	203	-367	-260	-119	-109	-93	15	96	144	149
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-365	208	-360	-247	-116	-54	-65	28	106	152	159
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.92	5.06	5.33	4.87	4.43	6.93	5.91	8.30	6.93	9.08	7.71
Price to Tangible Book Value (P/TBV)	4.98	5.13	5.42	4.95	4.50	7.04	6.00	8.42	7.05	9.22	7.82
Price to Revenue (P/Rev)	10.32	8.64	7.67	5.92	4.82	7.18	5.17	6.96	5.73	7.54	6.29
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	546.85	117.17
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.85%
Enterprise Value to Invested Capital (EV/IC)	17.55	14.78	13.24	9.16	7.38	12.42	10.50	14.40	12.36	18.28	36.13
Enterprise Value to Revenue (EV/Rev)	8.72	7.43	6.74	5.28	4.32	6.69	4.75	6.57	5.33	7.10	5.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,600.81	159.26	67.59
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	217.72	74.37
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	513.61	97.77
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	129.48	42.59	44.93	26.69
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	25.12
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.17	0.14	0.25	0.31	0.31	0.31	0.31	0.26	0.25	0.45	0.23
Long-Term Debt to Equity	0.05	0.05	0.06	0.06	0.06	0.05	0.05	0.05	0.04	0.24	0.22
Financial Leverage	-0.88	-0.84	-0.79	-0.68	-0.62	-0.60	-0.57	-0.49	-0.47	-0.51	-0.67
Leverage Ratio	1.44	1.46	1.54	1.55	1.60	1.58	1.71	1.68	1.68	1.78	1.83
Compound Leverage Factor	1.38	1.65	1.47	1.45	1.42	1.42	1.56	2.33	1.74	1.82	1.83
Debt to Total Capital	14.20%	12.37%	20.03%	23.39%	23.55%	23.43%	23.40%	20.88%	20.20%	30.80%	18.94%
Short-Term Debt to Total Capital	9.51%	7.65%	15.56%	18.85%	19.34%	19.25%	19.57%	17.26%	17.11%	14.51%	1.06%
Long-Term Debt to Total Capital	4.69%	4.72%	4.47%	4.54%	4.21%	4.18%	3.83%	3.62%	3.09%	16.29%	17.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	85.80%	87.63%	79.97%	76.61%	76.45%	76.57%	76.60%	79.12%	79.80%	69.20%	81.06%
Debt to EBITDA	-0.36	-0.55	-1.02	-1.34	-2.01	-1.35	-2.11	-4.47	62.80	8.29	2.29
Net Debt to EBITDA	1.66	2.75	2.64	2.31	3.02	2.12	3.34	7.70	-118.54	-9.92	-7.93
Long-Term Debt to EBITDA	-0.12	-0.21	-0.23	-0.26	-0.36	-0.24	-0.35	-0.77	9.61	4.39	2.16
Debt to NOPAT	-0.56	-0.59	-1.05	-1.34	-1.67	-1.72	-2.56	-4.46	-13.54	26.75	3.31
Net Debt to NOPAT	2.59	2.93	2.70	2.30	2.51	2.70	4.05	7.69	25.56	-32.01	-11.46
Long-Term Debt to NOPAT	-0.19	-0.22	-0.23	-0.26	-0.30	-0.31	-0.42	-0.77	-2.07	14.15	3.13
Altman Z-Score	4.62	5.68	3.78	2.99	2.65	4.83	3.48	6.50	5.49	6.11	5.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.13	3.16	2.32	2.08	1.98	1.93	1.80	1.96	1.95	2.39	3.41
Quick Ratio	2.72	2.71	1.95	1.72	1.61	1.62	1.49	1.63	1.60	2.07	2.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-962	-1,002	-1,134	-968	-986	-761	-527	-313	-75	-6.50	972
Operating Cash Flow to CapEx	-241.94%	-49.50%	-141.21%	-197.07%	-86.94%	140.94%	81.27%	78.15%	601.46%	837.19%	1,112.27%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.28	0.36	0.40	0.48	0.54	0.58	0.65	0.73	0.76	0.74	0.76
Accounts Receivable Turnover	7.68	8.85	9.26	7.42	7.47	7.55	7.37	7.25	7.02	6.94	6.93
Inventory Turnover	1.12	1.14	1.09	1.14	1.22	1.44	1.30	1.35	1.40	1.43	1.21
Fixed Asset Turnover	2.18	2.37	2.27	2.36	2.43	2.42	2.63	2.77	2.91	3.12	3.32
Accounts Payable Turnover	1.31	1.17	1.25	1.42	1.55	1.66	1.65	1.76	1.90	1.99	1.51
Days Sales Outstanding (DSO)	47.52	41.25	39.43	49.21	48.84	48.32	49.54	50.37	52.01	52.57	52.65
Days Inventory Outstanding (DIO)	324.84	319.12	335.52	321.09	299.95	253.30	279.89	271.09	261.37	256.04	301.16
Days Payable Outstanding (DPO)	279.07	311.82	292.97	257.93	235.38	219.73	221.21	207.51	191.66	183.70	241.33
Cash Conversion Cycle (CCC)	93.29	48.55	81.98	112.37	113.41	81.89	108.21	113.95	121.72	124.90	112.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	900	1,108	1,252	1,593	1,811	1,785	1,723	1,907	1,969	1,930	833
Invested Capital Turnover	3.42	3.29	3.00	2.30	2.29	2.29	2.56	2.39	2.41	2.68	4.18
Increase / (Decrease) in Invested Capital	739	876	865	785	911	677	471	314	158	145	-890
Enterprise Value (EV)	15,792	16,387	16,576	14,587	13,365	22,174	18,084	27,453	24,329	35,288	30,091
Market Capitalization	18,689	19,042	18,861	16,355	14,920	23,824	19,693	29,046	26,131	37,487	33,619
Book Value per Share	$2.79	$2.73	$2.60	$2.48	$2.48	$2.49	$2.40	$2.52	$2.69	$2.89	$3.03
Tangible Book Value per Share	$2.75	$2.70	$2.56	$2.44	$2.44	$2.45	$2.37	$2.48	$2.64	$2.84	$2.99
Total Capital	4,427	4,294	4,423	4,386	4,403	4,487	4,350	4,423	4,725	5,967	5,380
Total Debt	628	531	886	1,026	1,037	1,051	1,018	924	954	1,838	1,019
Total Long-Term Debt	207	202	198	199	185	188	166	160	146	972	962
Net Debt	-2,897	-2,655	-2,286	-1,767	-1,556	-1,651	-1,609	-1,593	-1,802	-2,199	-3,528
Capital Expenditures (CapEx)	121	158	157	157	110	134	92	56	44	48	38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-108	-87	-90	60	159	48	0.81	160	153	125	-85
Debt-free Net Working Capital (DFNWC)	3,417	3,099	3,082	2,853	2,752	2,750	2,628	2,676	2,909	4,162	4,462
Net Working Capital (NWC)	2,996	2,770	2,393	2,026	1,900	1,886	1,777	1,913	2,100	3,296	4,405
Net Nonoperating Expense (NNE)	158	-341	99	68	45	37	96	-0.60	-11	14	16
Net Nonoperating Obligations (NNO)	-2,899	-2,655	-2,286	-1,767	-1,556	-1,651	-1,609	-1,593	-1,802	-2,199	-3,528
Total Depreciation and Amortization (D&A)	17	5.61	7.09	12	3.03	55	29	13	9.86	8.01	9.73
Debt-free, Cash-free Net Working Capital to Revenue	-5.99%	-3.95%	-3.67%	2.16%	5.14%	1.46%	0.02%	3.83%	3.35%	2.51%	-1.60%
Debt-free Net Working Capital to Revenue	188.72%	140.57%	125.33%	103.27%	88.87%	82.92%	68.98%	64.09%	63.76%	83.69%	83.51%
Net Working Capital to Revenue	165.47%	125.67%	97.34%	73.34%	61.37%	56.87%	46.63%	45.81%	46.04%	66.28%	82.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.28)	$0.16	($0.27)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.07	$0.09	$0.04
Adjusted Weighted Average Basic Shares Outstanding	1.36B	1.36B	1.36B	1.36B	1.36B	1.38B	1.37B	1.39B	1.41B	1.43B	1.42B
Adjusted Diluted Earnings per Share	($0.28)	$0.15	($0.26)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.06	$0.08	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	1.36B	1.39B	1.36B	1.36B	1.36B	1.38B	1.37B	1.45B	1.46B	1.49B	1.47B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	209.27M	211.62M	208.77M	208.55M	209.40M	211.81M	210.58M	218.10M	220.88M	224.73M	222.51M
Normalized Net Operating Profit after Tax (NOPAT)	-223	-126	-269	-183	-75	-84	-56	7.77	83	138	130
Normalized NOPAT Margin	-37.48%	-16.11%	-42.35%	-24.34%	-8.07%	-8.41%	-4.93%	0.70%	6.33%	9.80%	8.65%
Pre Tax Income Margin	-61.73%	29.35%	-55.29%	-32.39%	-11.40%	-9.81%	-7.57%	1.87%	7.57%	10.42%	9.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, data-driven look at BeiGene, Ltd. (NASDAQ: ONC) using their quarterly statements from the last four years. The focus is on trends a retail investor can use to gauge momentum, profitability, and liquidity.

Q4 2025 revenue reached about $1.50B, up roughly 33% year over year from Q4 2024 ($1.13B). This indicates meaningful top-line growth in 2025.
Gross margin stayed very solid, estimated around the mid-80s to 90% range, with Q4 2025 gross profit approximately $1.356B on $1.498B in revenue (about 90.5% gross margin).
Net income swung to profitability in Q4 2025 at about $66.5M, a notable improvement from 2024 where the company posted losses in several quarters.
Operating income was positive and rising in Q4 2025, reaching about $185.0M, signaling improving operating profitability through 2025.
Operating cash flow was strong in Q4 2025, about $417M, contributing to solid near-term liquidity.
Free cash flow in Q4 2025 was robust (roughly $380M, calculated as OCF of ~$417M minus capex of ~$37.5M), indicating meaningful cash generation beyond operating needs.
Financing activity provided liquidity in Q4 2025, with net cash from continuing financing around $96.9M, aided by a debt issuance of about $888.7M and a modest equity component; this supports growth and working capital needs.

Liquidity remains solid: in mid-2025 the company reported sizable current assets (~$5.66B in Q3 2025) versus current liabilities (~$2.37B), implying a healthy current ratio and cushion for short-term obligations.

Investing activities remained cash outflows, reflecting ongoing capital investments. In Q4 2025 net cash from continuing investing activities was negative (approximately -$38.3M), contributing to near-term cash usage despite strong operating cash flow.
Debt load increased via significant debt issuance in Q4 2025 (about $888.7M), which, while bolstering liquidity, also raises leverage and refinancing risk going forward.

05/05/26 03:05 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About BeOne Medicines' Financials

When does BeOne Medicines' fiscal year end?

According to the most recent income statement we have on file, BeOne Medicines' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has BeOne Medicines' net income changed over the last 10 years?

BeOne Medicines' net income appears to be on an upward trend, with a most recent value of $286.93 million in 2025, falling from -$57.10 million in 2015. The previous period was -$644.79 million in 2024. View BeOne Medicines' forecast to see where analysts expect BeOne Medicines to go next.

What is BeOne Medicines' operating income?

BeOne Medicines' total operating income in 2025 was $447.14 million, based on the following breakdown:

Total Gross Profit: $4.67 billion
Total Operating Expenses: $4.23 billion

How has BeOne Medicines' revenue changed over the last 10 years?

Over the last 10 years, BeOne Medicines' total revenue changed from $8.82 million in 2015 to $5.34 billion in 2025, a change of 60,506.1%.

How much debt does BeOne Medicines have?

BeOne Medicines' total liabilities were at $3.83 billion at the end of 2025, a 47.9% increase from 2024, and a 8,917.3% increase since 2015.

How much cash does BeOne Medicines have?

In the past 10 years, BeOne Medicines' cash and equivalents has ranged from $17.87 million in 2015 to $4.55 billion in 2025, and is currently $4.55 billion as of their latest financial filing in 2025.

How has BeOne Medicines' book value per share changed over the last 10 years?

Over the last 10 years, BeOne Medicines' book value per share changed from -0.92 in 2015 to 3.03 in 2025, a change of -429.5%.

Related Companies

Financial statements for NASDAQ:ONC last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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