BeOne Medicines (ONC) Financials

$314.38 +5.05 (+1.63%)

As of 03:57 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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Net Income / (Loss) Attributable to Common Shareholders	-18	-57	-119	-93	-674	-949	-1,625	-1,458	-2,004	-882	-645
Consolidated Net Income / (Loss)	-19	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645
Net Income / (Loss) Continuing Operations	-19	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645
Total Pre-Tax Income	-19	-57	-119	-91	-690	-944	-1,618	-1,439	-1,961	-826	-533
Total Operating Income	-16	-57	-117	-98	-706	-960	-1,658	-1,439	-1,790	-1,208	-568
Total Gross Profit	13	8.82	1.07	233	170	357	238	1,011	1,129	2,079	3,216
Total Revenue	13	8.82	1.07	238	198	428	309	1,176	1,416	2,459	3,810
Operating Revenue	13	8.82	1.07	238	198	428	309	1,176	1,416	2,459	3,810
Total Cost of Revenue	0.00	0.00	0.00	4.97	29	71	71	165	286	380	594
Operating Cost of Revenue	-	0.00	0.00	4.97	29	71	71	165	286	380	594
Total Operating Expenses	29	66	118	332	875	1,317	1,896	2,450	2,919	3,287	3,784
Selling, General & Admin Expense	6.93	7.31	20	63	195	388	600	990	1,279	1,508	1,831
Research & Development Expense	22	58	98	269	679	927	1,295	1,459	1,641	1,779	1,953
Total Other Income / (Expense), net	-2.79	-0.36	-2.10	7.39	16	16	39	0.15	-171	382	35
Interest & Investment Income	-	-	-	-	-	-	-	-	52	74	48
Other Income / (Expense), net	-2.16	-0.92	-2.49	12	1.99	7.17	37	16	-224	308	-13
Income Tax Expense	0.00	0.00	0.05	2.24	-16	6.99	10	19	43	56	112
Basic Earnings per Share	($0.18)	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.50)	($1.21)	($1.49)	($0.65)	($0.47)
Weighted Average Basic Shares Outstanding	99.86M	110.60M	31.05M	543.19M	55.44M	780.70M	1.09B	1.21B	1.34B	1.36B	1.37B
Diluted Earnings per Share	($0.18)	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.50)	($1.21)	($1.49)	($0.65)	($0.47)
Weighted Average Diluted Shares Outstanding	99.86M	110.60M	31.05M	543.19M	55.44M	780.70M	1.09B	1.21B	1.34B	1.36B	1.37B
Weighted Average Basic & Diluted Shares Outstanding	99.86M	110.60M	434.67M	543.19M	776.20M	120.11M	166.94M	185.57M	206.27M	208.77M	210.58M

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	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
Net Income / (Loss) Attributable to Common Shareholders	-445	-348	-381	215	-368	-251	-120	-121	-152	1.27	94
Consolidated Net Income / (Loss)	-445	-348	-381	215	-368	-251	-120	-121	-152	1.27	94
Net Income / (Loss) Continuing Operations	-445	-348	-381	215	-368	-251	-120	-121	-152	1.27	94
Total Pre-Tax Income	-431	-337	-367	229	-351	-243	-106	-98	-85	21	100
Total Operating Income	-469	-371	-319	-134	-384	-261	-107	-120	-79	11	88
Total Gross Profit	307	366	499	685	529	627	791	831	967	952	1,151
Total Revenue	380	448	595	781	634	752	929	1,002	1,128	1,117	1,315
Operating Revenue	380	448	595	781	634	752	929	1,002	1,128	1,117	1,315
Total Cost of Revenue	74	82	96	96	106	125	138	170	161	165	165
Operating Cost of Revenue	74	82	96	96	106	125	138	170	161	165	165
Total Operating Expenses	775	737	818	819	912	888	898	951	1,047	941	1,063
Selling, General & Admin Expense	330	328	395	366	419	427	444	455	505	459	538
Research & Development Expense	446	409	423	453	494	461	454	496	542	482	525
Total Other Income / (Expense), net	38	34	-49	363	33	18	1.24	22	-5.93	9.80	12
Interest & Investment Income	-	-	-	27	-	16	13	11	-	5.85	3.50
Other Income / (Expense), net	19	18	-64	337	17	1.76	-12	11	-14	3.95	8.17
Income Tax Expense	14	11	14	14	17	7.72	14	23	67	20	5.23
Basic Earnings per Share	($0.33)	($0.26)	($0.28)	$0.16	($0.27)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.07
Weighted Average Basic Shares Outstanding	1.34B	1.35B	1.36B	1.36B	1.36B	1.36B	1.36B	1.38B	1.37B	1.39B	1.41B
Diluted Earnings per Share	($0.33)	($0.26)	($0.28)	$0.15	($0.26)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.06
Weighted Average Diluted Shares Outstanding	1.34B	1.35B	1.36B	1.39B	1.36B	1.36B	1.36B	1.38B	1.37B	1.45B	1.46B
Weighted Average Basic & Diluted Shares Outstanding	206.27M	208.33M	209.27M	211.62M	208.77M	208.55M	209.40M	211.81M	210.58M	218.10M	220.88M

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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Net Change in Cash & Equivalents	9.97	3.97	70	152	505	-120	769	2,993	-508	-689	-547
Net Cash From Operating Activities	-8.69	-40	-90	13	-548	-750	-1,283	-1,299	-1,497	-1,157	-141
Net Cash From Continuing Operating Activities	-8.69	-40	-90	13	-548	-750	-1,283	-1,299	-1,497	-1,157	-141
Net Income / (Loss) Continuing Operations	-19	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645
Consolidated Net Income / (Loss)	-19	-57	-119	-93	-674	-951	-1,629	-1,458	-2,004	-882	-645
Depreciation Expense	1.56	1.55	1.91	4.76	10	19	32	46	66	88	172
Amortization Expense	-	-	0.00	-	0.00	0.00	-114	-112	-96	-55	-73
Non-Cash Adjustments To Reconcile Net Income	9.83	13	14	50	157	203	281	317	394	68	526
Changes in Operating Assets and Liabilities, net	-1.54	2.26	14	51	-41	-21	146	-91	143	-376	-120
Net Cash From Investing Activities	-34	-59	-222	-356	-638	554	-3,168	641	1,077	60	-548
Net Cash From Continuing Investing Activities	-34	-59	-222	-356	-638	554	-3,168	641	1,077	60	-548
Purchase of Property, Plant & Equipment	-0.65	-5.31	-24	-46	-70	-90	-118	-263	-325	-562	-493
Acquisitions	-	-	0.00	0.00	-109	-69	-110	-52	-144	-34	-36
Purchase of Investments	-31	-119	-382	-741	-2,636	-1,169	-5,690	-2,191	-16	-15	-19
Sale and/or Maturity of Investments	0.10	66	184	424	2,177	1,882	2,751	3,147	1,564	673	2.66
Other Investing Activities, net	-2.44	0.00	0.00	-12	-	0.00	-2.03	-	-1.49	-2.08	-2.86
Net Cash From Financing Activities	52	103	381	490	1,691	86	5,203	3,637	-19	416	193
Net Cash From Continuing Financing Activities	52	103	381	490	1,691	86	5,203	3,637	-19	416	193
Repayment of Debt	-1.29	-0.32	0.00	-2.47	-8.74	-33	-144	-322	-417	-323	-729
Issuance of Debt	18	6.18	381	135	912	67	434	423	351	684	877
Issuance of Common Equity	0.00	0.00	0.00	354	787	51	4,325	3,535	47	56	45
Effect of Exchange Rate Changes	0.14	-0.49	0.10	5.30	-	-	-	14	-69	-8.08	-52
Cash Interest Paid	0.03	0.13	0.83	1.26	2.21	4.32	44	30	25	20	51
Cash Income Taxes Paid	0.00	0.00	0.03	29	12	8.98	11	16	30	56	69

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	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
Net Change in Cash & Equivalents	-325	-331	-122	-341	105	-379	-190	95	-75	-108	255
Net Cash From Operating Activities	-318	-564	-294	-78	-222	-309	-96	188	75	44	264
Net Cash From Continuing Operating Activities	-318	-564	-294	-78	-222	-309	-96	188	75	44	264
Net Income / (Loss) Continuing Operations	-445	-348	-381	215	-368	-251	-120	-121	-152	1.27	94
Consolidated Net Income / (Loss)	-445	-348	-381	215	-368	-251	-120	-121	-152	1.27	94
Depreciation Expense	18	20	22	22	24	25	25	71	50	33	36
Amortization Expense	-26	-17	-5.27	-16	-17	-13	-22	-17	-22	-20	-26
Non-Cash Adjustments To Reconcile Net Income	132	76	103	-252	141	89	131	118	192	95	151
Changes in Operating Assets and Liabilities, net	2.77	-294	-32	-47	-2.12	-158	-109	137	6.77	-66	8.11
Net Cash From Investing Activities	39	241	68	-186	-63	-210	-111	-134	-94	-122	-67
Net Cash From Continuing Investing Activities	39	241	68	-186	-63	-210	-111	-134	-94	-122	-67
Purchase of Property, Plant & Equipment	-121	-126	-121	-158	-157	-157	-110	-134	-92	-56	-44
Acquisitions	-49	0.00	-	-24	-9.95	-36	-	-	-	-60	-20
Other Investing Activities, net	-	-10	-1.27	-4.00	14	-19	-1.08	-0.23	18	-7.33	-2.78
Net Cash From Financing Activities	-110	-20	166	-77	347	162	23	13	-4.52	-34	35
Net Cash From Continuing Financing Activities	-110	-20	166	-77	347	162	23	13	-4.52	-34	35
Repayment of Debt	-272	-51	-15	-101	-155	-3.58	-165	-3.56	-557	-177	-115
Issuance of Debt	150	0.00	178	7.50	499	151	182	-	544	80	142
Issuance of Common Equity	11	32	3.58	17	3.36	15	5.56	16	8.80	63	33
Effect of Exchange Rate Changes	65	-	-	-	42	-22	-5.90	28	-52	3.48	23
Cash Interest Paid	5.30	5.02	5.00	5.88	3.86	11	13	14	13	12	12
Cash Income Taxes Paid	4.49	7.62	25	9.99	13	2.49	43	9.14	15	9.32	68

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

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

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

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-32.37%	-87.86%	22,179.16%	-16.85%	116.03%	-27.87%	280.83%	20.37%	73.65%	54.96%
EBITDA Growth	0.00%	-243.01%	-109.63%	30.13%	-743.56%	-34.72%	-82.25%	12.54%	-37.26%	57.55%	44.40%
EBIT Growth	0.00%	-221.82%	-107.33%	27.26%	-709.35%	-35.37%	-70.06%	12.18%	-41.51%	55.31%	35.45%
NOPAT Growth	0.00%	-260.13%	-106.29%	15.89%	-616.83%	-36.01%	-72.69%	13.21%	-24.39%	32.52%	52.95%
Net Income Growth	0.00%	-207.89%	-108.78%	21.74%	-622.44%	-41.03%	-71.33%	10.49%	-37.45%	56.00%	26.87%
EPS Growth	0.00%	-188.89%	42.31%	43.33%	-447.06%	-31.18%	-22.95%	19.33%	-23.14%	56.38%	27.69%
Operating Cash Flow Growth	0.00%	-358.28%	-124.66%	114.25%	-4,395.15%	-36.98%	-71.07%	-1.19%	-15.24%	22.66%	87.85%
Free Cash Flow Firm Growth	0.00%	0.00%	-160.16%	12.32%	-698.43%	-21.94%	13.98%	-115.75%	-6.11%	-13.89%	49.19%
Invested Capital Growth	0.00%	0.00%	137.48%	466.68%	1,149.56%	63.52%	-215.97%	150.73%	181.28%	223.84%	37.66%
Revenue Q/Q Growth	0.00%	0.00%	-81.38%	8.25%	25.68%	-0.41%	16.26%	10.72%	13.29%	11.54%	14.88%
EBITDA Q/Q Growth	0.00%	0.00%	-9.78%	-195.27%	-36.67%	-11.86%	-7.94%	-7.29%	6.48%	10.08%	37.99%
EBIT Q/Q Growth	0.00%	0.00%	-9.66%	-180.37%	-36.28%	-11.56%	-6.36%	-8.01%	6.20%	8.36%	32.04%
NOPAT Q/Q Growth	0.00%	0.00%	-10.26%	-208.36%	-33.48%	-12.58%	-6.21%	-6.42%	5.45%	6.56%	34.88%
Net Income Q/Q Growth	0.00%	0.00%	-9.51%	-195.09%	-33.05%	-14.61%	-7.44%	-7.77%	7.42%	8.11%	25.06%
EPS Q/Q Growth	0.00%	0.00%	34.78%	-54.55%	-29.17%	-12.96%	0.00%	0.00%	10.24%	9.72%	25.40%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-11.70%	111.90%	-110.60%	-10.83%	-5.35%	-15.63%	11.25%	7.70%	67.85%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	57.77%	-120.96%	3.69%	-10.53%	-13.31%	-1.48%	3.97%	32.52%
Invested Capital Q/Q Growth	0.00%	0.00%	-10.12%	-93.09%	82.34%	-14.56%	-19.98%	78.34%	66.58%	12.91%	-3.51%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	97.91%	85.52%	83.38%	77.12%	85.98%	79.77%	84.55%	84.41%
EBITDA Margin	-125.51%	-636.52%	-10,994.11%	-34.48%	-349.81%	-218.14%	-551.16%	-126.57%	-144.33%	-35.28%	-12.66%
Operating Margin	-120.88%	-643.66%	-10,940.19%	-41.30%	-356.05%	-224.16%	-536.69%	-122.31%	-126.40%	-49.12%	-14.91%
EBIT Margin	-137.45%	-654.05%	-11,172.52%	-36.48%	-355.05%	-222.49%	-524.55%	-120.96%	-142.21%	-36.60%	-15.24%
Profit (Net Income) Margin	-142.28%	-647.71%	-11,141.78%	-39.14%	-340.04%	-221.99%	-527.27%	-123.93%	-141.52%	-35.86%	-16.92%
Tax Burden Percent	100.00%	100.00%	100.05%	102.45%	97.71%	100.74%	100.64%	101.34%	102.18%	106.77%	120.97%
Interest Burden Percent	103.51%	99.03%	99.68%	104.72%	98.02%	99.04%	99.88%	101.11%	97.39%	91.78%	91.76%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-1,025.06%	-640.55%	-357.05%	0.00%	0.00%	-478.29%	-103.23%	-26.74%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-1,020.30%	-624.78%	-333.39%	0.00%	0.00%	-463.26%	-102.07%	-14.06%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	1,007.07%	585.25%	287.46%	0.00%	0.00%	440.18%	80.96%	7.97%
Return on Equity (ROE)	0.00%	-76.83%	-55.81%	-17.99%	-55.30%	-69.59%	-67.19%	-29.15%	-38.11%	-22.26%	-18.77%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-4,429.35%	-1,165.06%	-810.91%	-405.26%	0.00%	-1,030.15%	-573.38%	-208.85%	-58.44%
Operating Return on Assets (OROA)	0.00%	-49.38%	-45.75%	-11.98%	-42.70%	-49.34%	-44.92%	-20.13%	-27.00%	-14.77%	-9.91%
Return on Assets (ROA)	0.00%	-48.90%	-45.63%	-12.85%	-40.90%	-49.23%	-45.16%	-20.63%	-26.87%	-14.47%	-11.00%
Return on Common Equity (ROCE)	0.00%	105.21%	-32.81%	-17.74%	-54.64%	-68.81%	-66.97%	-29.15%	-38.11%	-22.26%	-18.77%
Return on Equity Simple (ROE_SIMPLE)	0.00%	56.11%	-33.78%	-13.93%	-38.76%	-98.79%	-42.09%	-23.77%	-45.71%	-24.93%	-19.35%
Net Operating Profit after Tax (NOPAT)	-11	-40	-82	-69	-494	-672	-1,160	-1,007	-1,253	-845	-398
NOPAT Margin	-84.62%	-450.56%	-7,658.13%	-28.91%	-249.24%	-156.91%	-375.68%	-85.62%	-88.48%	-34.38%	-10.44%
Net Nonoperating Expense Percent (NNEP)	0.00%	-43.61%	-17.31%	-4.76%	-15.76%	-23.66%	-19.17%	-8.89%	-15.03%	-1.16%	-12.68%
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%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	2.09%	14.48%	16.62%	22.88%	14.02%	20.23%	15.45%	15.59%
SG&A Expenses to Revenue	53.16%	82.93%	1,878.22%	26.26%	98.57%	90.67%	194.31%	84.17%	90.30%	61.33%	48.06%
R&D to Revenue	167.72%	660.73%	9,161.96%	112.85%	342.55%	216.56%	419.23%	124.06%	115.86%	72.34%	51.26%
Operating Expenses to Revenue	220.88%	743.66%	11,040.19%	139.21%	441.57%	307.54%	613.81%	208.29%	206.16%	133.67%	99.32%
Earnings before Interest and Taxes (EBIT)	-18	-58	-120	-87	-704	-953	-1,620	-1,423	-2,014	-900	-581
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	-56	-118	-82	-693	-934	-1,702	-1,489	-2,044	-867	-482
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.84	6.63	4.79	10.45	6.08	4.15	5.21	5.33	5.91
Price to Tangible Book Value (P/TBV)	0.00	0.00	2.84	6.71	4.81	10.51	6.08	4.18	5.26	5.42	6.00
Price to Revenue (P/Rev)	0.00	0.00	937.41	18.64	42.04	23.47	76.12	21.61	16.13	7.67	5.17
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	0.00
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%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	323.32	318.32	46.22	39.26	0.00	141.43	48.74	13.24	10.50
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	609.48	15.26	33.30	21.41	62.74	16.52	13.30	6.74	4.75
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	0.00
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	0.00
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	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	285.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.28	0.05	0.03	0.03	0.09	0.13	0.10	0.12	0.25	0.31
Long-Term Debt to Equity	0.00	0.08	0.05	0.01	0.02	0.09	0.05	0.03	0.05	0.06	0.05
Financial Leverage	0.00	-1.07	-1.01	-0.99	-0.94	-0.86	-1.01	-1.01	-0.95	-0.79	-0.57
Leverage Ratio	0.00	1.57	1.22	1.40	1.35	1.41	1.49	1.41	1.42	1.54	1.71
Compound Leverage Factor	0.00	1.56	1.22	1.47	1.33	1.40	1.49	1.43	1.38	1.41	1.57
Debt to Total Capital	0.00%	21.86%	4.67%	2.62%	2.75%	7.85%	11.82%	9.31%	10.93%	20.03%	23.40%
Short-Term Debt to Total Capital	0.00%	15.35%	0.00%	1.31%	0.48%	0.00%	7.64%	6.32%	6.68%	15.56%	19.57%
Long-Term Debt to Total Capital	0.00%	6.51%	4.67%	1.31%	2.26%	7.85%	4.19%	2.99%	4.25%	4.47%	3.83%
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%	185.15%	0.00%	2.05%	0.80%	1.52%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-107.00%	95.33%	95.32%	96.45%	90.63%	88.18%	90.69%	89.07%	79.97%	76.60%
Debt to EBITDA	0.00	-0.37	-0.15	-0.22	-0.07	-0.09	-0.30	-0.42	-0.26	-1.02	-2.11
Net Debt to EBITDA	0.00	1.42	2.98	9.96	2.52	0.96	2.43	4.02	1.96	2.64	3.34
Long-Term Debt to EBITDA	0.00	-0.11	-0.15	-0.11	-0.06	-0.09	-0.11	-0.14	-0.10	-0.23	-0.35
Debt to NOPAT	0.00	-0.52	-0.21	-0.27	-0.10	-0.12	-0.45	-0.63	-0.43	-1.05	-2.56
Net Debt to NOPAT	0.00	2.01	4.28	11.88	3.54	1.34	3.56	5.95	3.19	2.70	4.05
Long-Term Debt to NOPAT	0.00	-0.16	-0.21	-0.13	-0.08	-0.12	-0.16	-0.20	-0.17	-0.23	-0.42
Altman Z-Score	0.00	0.00	10.59	7.75	9.41	6.77	7.19	5.95	5.19	3.48	3.21
Noncontrolling Interest Sharing Ratio	0.00%	236.93%	41.22%	1.39%	1.18%	1.12%	0.33%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	3.02	10.68	6.09	7.89	3.78	4.61	4.76	3.55	2.32	1.80
Quick Ratio	0.00	2.86	10.50	5.78	7.40	3.40	4.38	4.44	3.21	1.95	1.49
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-34	-89	-78	-625	-763	-656	-1,415	-1,502	-1,710	-869
Operating Cash Flow to CapEx	-1,329.36%	-749.92%	-380.94%	27.50%	-779.30%	-837.24%	-1,092.23%	-493.92%	-459.88%	-205.99%	-28.55%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-19.07	0.00	0.00	0.00	-89.82	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-13.82	0.00	0.00	3.10	0.00	0.00	0.00	-82.42	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-14.86	0.00	0.00	-8.18	0.00	0.00	0.00	-99.11	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.08	0.00	0.33	0.12	0.22	0.09	0.17	0.19	0.40	0.65
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	5.62	7.65	4.71	4.33	4.32	9.26	7.37
Inventory Turnover	0.00	0.00	0.00	0.00	2.11	3.18	1.20	0.99	1.09	1.09	1.30
Fixed Asset Turnover	0.00	1.33	0.07	5.38	1.81	2.14	1.03	2.49	1.98	2.27	2.63
Accounts Payable Turnover	0.00	0.00	0.00	0.08	0.25	0.60	0.40	0.67	1.03	1.25	1.65
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	64.89	47.71	77.57	84.33	84.59	39.43	49.54
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	172.75	114.83	304.38	367.33	334.44	335.52	279.89
Days Payable Outstanding (DPO)	0.00	0.00	0.00	4,818.75	1,479.20	604.41	915.50	547.10	354.95	292.97	221.21
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-4,818.75	-1,241.55	-441.87	-533.54	-95.44	64.07	81.98	108.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-5.38	2.02	11	143	234	-271	137	386	1,252	1,723
Invested Capital Turnover	0.00	-3.28	-0.64	35.46	2.57	2.28	-16.57	-17.63	5.41	3.00	2.56
Increase / (Decrease) in Invested Capital	0.00	-5.38	7.40	9.41	131	91	-504	408	249	865	471
Enterprise Value (EV)	0.00	0.00	652	3,638	6,601	9,168	19,380	19,432	18,837	16,576	18,084
Market Capitalization	0.00	0.00	1,003	4,443	8,333	10,052	23,512	25,420	22,834	18,861	19,693
Book Value per Share	$0.00	($0.92)	$0.82	$1.13	$2.25	$1.22	$3.27	$5.03	$3.25	$2.60	$2.40
Tangible Book Value per Share	$0.00	($0.92)	$0.82	$1.12	$2.24	$1.21	$3.27	$4.99	$3.22	$2.56	$2.37
Total Capital	0.00	95	370	703	1,803	1,062	4,388	6,762	4,921	4,423	4,350
Total Debt	0.00	21	17	18	50	83	519	630	538	886	1,018
Total Long-Term Debt	0.00	6.19	17	9.22	41	83	184	202	209	198	166
Net Debt	0.00	-80	-351	-819	-1,746	-900	-4,132	-5,988	-3,997	-2,286	-1,609
Capital Expenditures (CapEx)	0.65	5.31	23	46	70	90	118	263	325	562	493
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-15	-29	-65	-90	-121	-430	-176	-467	-90	0.81
Debt-free Net Working Capital (DFNWC)	0.00	86	339	773	1,706	862	4,221	6,442	4,068	3,082	2,628
Net Working Capital (NWC)	0.00	71	339	764	1,697	862	3,885	6,014	3,739	2,393	1,777
Net Nonoperating Expense (NNE)	7.52	17	37	24	180	279	468	451	751	36	247
Net Nonoperating Obligations (NNO)	0.00	-80	-351	-673	-1,611	-745	-4,140	-5,995	-3,997	-2,286	-1,609
Total Depreciation and Amortization (D&A)	1.56	1.55	1.91	4.76	10	19	-82	-66	-30	32	99
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-167.77%	-2,694.67%	-27.18%	-45.34%	-28.17%	-139.37%	-14.97%	-33.02%	-3.67%	0.02%
Debt-free Net Working Capital to Revenue	0.00%	972.04%	31,714.11%	324.15%	860.72%	201.39%	1,366.42%	547.65%	287.27%	125.33%	68.98%
Net Working Capital to Revenue	0.00%	806.45%	31,714.11%	320.28%	856.32%	201.39%	1,257.95%	511.30%	264.04%	97.34%	46.63%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.18)	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	($1.17)	($1.49)	($0.65)	($0.47)
Adjusted Weighted Average Basic Shares Outstanding	99.86M	110.60M	518.60M	696.34M	776.11M	1.01B	1.19B	1.21B	1.34B	1.36B	1.37B
Adjusted Diluted Earnings per Share	($0.18)	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	($1.17)	($1.49)	($0.65)	($0.47)
Adjusted Weighted Average Diluted Shares Outstanding	99.86M	110.60M	518.60M	696.34M	776.11M	1.01B	1.19B	1.21B	1.34B	1.36B	1.37B
Adjusted Basic & Diluted Earnings per Share	($0.18)	($0.52)	($0.30)	($0.17)	($0.93)	($1.22)	($1.47)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	99.86M	110.60M	403.62M	543.19M	776.20M	780.70M	1.17B	185.57M	206.27M	208.77M	210.58M
Normalized Net Operating Profit after Tax (NOPAT)	-11	-40	-82	-69	-494	-672	-1,160	-1,007	-1,253	-845	-398
Normalized NOPAT Margin	-84.62%	-450.56%	-7,658.13%	-28.91%	-249.24%	-156.91%	-375.68%	-85.62%	-88.48%	-34.38%	-10.44%
Pre Tax Income Margin	-142.28%	-647.71%	-11,136.73%	-38.20%	-348.01%	-220.35%	-523.90%	-122.30%	-138.50%	-33.59%	-13.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-28.48	0.00	0.00	-21.17	0.00	0.00	0.00	-90.30	0.00	0.00	0.00
NOPAT to Interest Expense	-17.54	0.00	0.00	-16.78	0.00	0.00	0.00	-63.92	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-29.52	0.00	0.00	-32.46	0.00	0.00	0.00	-106.99	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-18.58	0.00	0.00	-28.07	0.00	0.00	0.00	-80.60	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%	-1.86%	-0.72%	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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	77.63%	46.04%	74.27%	101.56%	66.91%	67.85%	56.09%	28.20%	77.78%	48.64%	41.56%
EBITDA Growth	23.66%	19.75%	36.70%	136.38%	21.27%	29.38%	68.23%	-126.03%	82.07%	111.33%	191.21%
EBIT Growth	22.86%	18.17%	32.77%	135.94%	18.29%	26.45%	68.85%	-153.75%	74.62%	105.80%	180.62%
NOPAT Growth	18.04%	16.25%	27.47%	58.99%	18.10%	29.60%	66.38%	33.10%	79.31%	100.37%	211.01%
Net Income Growth	26.49%	19.94%	32.63%	138.64%	17.47%	27.92%	68.41%	-156.33%	58.68%	100.51%	178.34%
EPS Growth	34.00%	21.21%	33.33%	136.59%	21.21%	26.92%	67.86%	-160.00%	61.54%	100.00%	166.67%
Operating Cash Flow Growth	37.34%	-138.32%	22.65%	86.09%	30.34%	45.27%	67.47%	341.04%	133.91%	114.29%	375.76%
Free Cash Flow Firm Growth	28.62%	-6.92%	-54.27%	-117.03%	-96.45%	-17.34%	-2.43%	24.05%	53.52%	67.67%	92.38%
Invested Capital Growth	181.28%	233.36%	460.55%	377.78%	223.84%	97.25%	101.22%	61.08%	37.66%	19.70%	8.75%
Revenue Q/Q Growth	-1.94%	17.81%	32.93%	31.25%	-18.80%	18.48%	23.62%	7.80%	12.60%	-0.94%	17.72%
EBITDA Q/Q Growth	20.16%	23.37%	-4.32%	157.00%	-272.81%	31.26%	53.07%	53.30%	-18.98%	143.46%	277.65%
EBIT Q/Q Growth	20.36%	21.42%	-8.38%	152.99%	-281.09%	29.28%	54.10%	8.56%	14.49%	116.16%	538.13%
NOPAT Q/Q Growth	-6.90%	20.78%	14.15%	43.60%	-113.50%	31.90%	59.00%	-12.23%	33.96%	101.21%	12,243.07%
Net Income Q/Q Growth	20.13%	21.76%	-9.39%	156.52%	-270.63%	31.67%	52.06%	-0.78%	-25.16%	100.84%	7,326.77%
EPS Q/Q Growth	19.51%	21.21%	-7.69%	153.57%	-273.33%	26.92%	52.63%	0.00%	-11.11%	100.00%	0.00%
Operating Cash Flow Q/Q Growth	43.37%	-77.18%	47.87%	73.41%	-183.61%	-39.22%	69.02%	297.06%	-60.10%	-41.35%	497.97%
Free Cash Flow Firm Q/Q Growth	-24.97%	-42.99%	-16.62%	-4.15%	-13.12%	14.59%	-1.80%	22.78%	30.78%	40.58%	76.01%
Invested Capital Q/Q Growth	66.58%	108.97%	11.41%	23.19%	12.91%	27.28%	13.66%	-1.38%	-3.51%	10.67%	3.26%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.66%	81.74%	83.87%	87.67%	83.32%	83.38%	85.13%	82.98%	85.76%	85.23%	87.49%
EBITDA Margin	-120.28%	-78.24%	-61.40%	26.66%	-56.74%	-32.92%	-12.50%	-5.41%	-5.72%	2.51%	8.05%
Operating Margin	-123.29%	-82.91%	-53.54%	-17.15%	-60.50%	-34.77%	-11.53%	-12.01%	-7.04%	0.99%	6.68%
EBIT Margin	-118.18%	-78.82%	-64.26%	25.94%	-57.86%	-34.54%	-12.82%	-10.88%	-8.26%	1.35%	7.30%
Profit (Net Income) Margin	-117.16%	-77.81%	-64.03%	27.57%	-57.94%	-33.41%	-12.96%	-12.12%	-13.47%	0.11%	7.17%
Tax Burden Percent	103.33%	103.41%	103.72%	93.93%	104.78%	103.17%	113.68%	123.44%	177.95%	6.08%	94.75%
Interest Burden Percent	95.94%	95.46%	96.06%	113.15%	95.57%	93.77%	88.90%	90.23%	91.62%	138.85%	103.64%
Effective Tax Rate	0.00%	0.00%	0.00%	6.07%	0.00%	0.00%	0.00%	0.00%	0.00%	93.92%	5.25%
Return on Invested Capital (ROIC)	-466.54%	-172.15%	-128.02%	-52.98%	-127.14%	-56.02%	-18.45%	-19.27%	-12.63%	0.14%	15.28%
ROIC Less NNEP Spread (ROIC-NNEP)	-464.19%	-170.18%	-124.09%	-62.62%	-123.99%	-53.35%	-16.41%	-17.54%	-7.69%	0.11%	14.62%
Return on Net Nonoperating Assets (RNNOA)	441.07%	152.39%	109.63%	52.65%	98.35%	36.32%	10.20%	10.49%	4.36%	-0.05%	-6.88%
Return on Equity (ROE)	-25.47%	-19.76%	-18.39%	-0.33%	-28.79%	-19.70%	-8.25%	-8.78%	-8.27%	0.09%	8.40%
Cash Return on Invested Capital (CROIC)	-573.38%	-336.75%	-350.31%	-265.77%	-208.85%	-129.46%	-112.99%	-89.00%	-58.44%	-29.76%	-12.11%
Operating Return on Assets (OROA)	-22.44%	-17.56%	-17.76%	9.34%	-23.35%	-16.42%	-6.94%	-6.35%	-5.37%	0.98%	5.55%
Return on Assets (ROA)	-22.25%	-17.34%	-17.69%	9.92%	-23.38%	-15.88%	-7.01%	-7.08%	-8.75%	0.08%	5.45%
Return on Common Equity (ROCE)	-25.47%	-19.76%	-18.39%	-0.33%	-28.79%	-19.70%	-8.25%	-8.78%	-8.27%	0.09%	8.40%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-46.11%	-45.61%	-25.50%	0.00%	-23.34%	-15.56%	-25.04%	0.00%	-11.21%	0.00%
Net Operating Profit after Tax (NOPAT)	-328	-260	-223	-126	-269	-183	-75	-84	-56	0.67	83
NOPAT Margin	-86.30%	-58.03%	-37.48%	-16.11%	-42.35%	-24.34%	-8.07%	-8.41%	-4.93%	0.06%	6.33%
Net Nonoperating Expense Percent (NNEP)	-2.35%	-1.97%	-3.93%	9.64%	-3.15%	-2.67%	-2.04%	-1.73%	-4.94%	0.04%	0.66%
Return On Investment Capital (ROIC_SIMPLE)	-6.67%	-5.59%	-5.04%	-2.93%	-6.07%	-4.17%	-1.70%	-1.88%	-1.28%	0.02%	1.76%
Cost of Revenue to Revenue	19.34%	18.26%	16.13%	12.33%	16.68%	16.62%	14.87%	17.02%	14.24%	14.77%	12.51%
SG&A Expenses to Revenue	86.75%	73.36%	66.36%	46.81%	66.01%	56.87%	47.76%	45.45%	44.75%	41.11%	40.90%
R&D to Revenue	117.35%	91.24%	71.02%	58.01%	77.87%	61.28%	48.91%	49.54%	48.06%	43.13%	39.91%
Operating Expenses to Revenue	203.95%	164.64%	137.42%	104.82%	143.81%	118.15%	96.67%	94.99%	92.81%	84.24%	80.80%
Earnings before Interest and Taxes (EBIT)	-449	-353	-383	203	-367	-260	-119	-109	-93	15	96
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-457	-350	-365	208	-360	-247	-116	-54	-65	28	106
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.21	5.41	4.92	5.06	5.33	4.87	4.43	6.93	5.91	8.30	6.93
Price to Tangible Book Value (P/TBV)	5.26	5.46	4.98	5.13	5.42	4.95	4.50	7.04	6.00	8.42	7.05
Price to Revenue (P/Rev)	16.13	14.44	10.32	8.64	7.67	5.92	4.82	7.18	5.17	6.96	5.73
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	0.00
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%	0.00%
Enterprise Value to Invested Capital (EV/IC)	48.74	23.70	17.55	14.78	13.24	9.16	7.38	12.42	10.50	14.40	12.36
Enterprise Value to Revenue (EV/Rev)	13.30	12.29	8.72	7.43	6.74	5.28	4.32	6.69	4.75	6.57	5.33
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	1,600.81
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	0.00
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	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	129.48	42.59
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	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.12	0.12	0.17	0.14	0.25	0.31	0.31	0.31	0.31	0.26	0.25
Long-Term Debt to Equity	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.05	0.05	0.05	0.04
Financial Leverage	-0.95	-0.90	-0.88	-0.84	-0.79	-0.68	-0.62	-0.60	-0.57	-0.49	-0.47
Leverage Ratio	1.42	1.39	1.44	1.46	1.54	1.55	1.60	1.58	1.71	1.68	1.68
Compound Leverage Factor	1.36	1.33	1.38	1.65	1.47	1.45	1.42	1.42	1.56	2.33	1.74
Debt to Total Capital	10.93%	10.51%	14.20%	12.37%	20.03%	23.39%	23.55%	23.43%	23.40%	20.88%	20.20%
Short-Term Debt to Total Capital	6.68%	6.07%	9.51%	7.65%	15.56%	18.85%	19.34%	19.25%	19.57%	17.26%	17.11%
Long-Term Debt to Total Capital	4.25%	4.44%	4.69%	4.72%	4.47%	4.54%	4.21%	4.18%	3.83%	3.62%	3.09%
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	89.07%	89.49%	85.80%	87.63%	79.97%	76.61%	76.45%	76.57%	76.60%	79.12%	79.80%
Debt to EBITDA	-0.26	-0.25	-0.36	-0.55	-1.02	-1.34	-2.01	-1.35	-2.11	-4.47	62.80
Net Debt to EBITDA	1.96	1.71	1.66	2.75	2.64	2.31	3.02	2.12	3.34	7.70	-118.54
Long-Term Debt to EBITDA	-0.10	-0.11	-0.12	-0.21	-0.23	-0.26	-0.36	-0.24	-0.35	-0.77	9.61
Debt to NOPAT	-0.43	-0.41	-0.56	-0.59	-1.05	-1.34	-1.67	-1.72	-2.56	-4.46	-13.54
Net Debt to NOPAT	3.19	2.78	2.59	2.93	2.70	2.30	2.51	2.70	4.05	7.69	25.56
Long-Term Debt to NOPAT	-0.17	-0.17	-0.19	-0.22	-0.23	-0.26	-0.30	-0.31	-0.42	-0.77	-2.07
Altman Z-Score	6.00	6.51	4.62	5.68	3.78	2.99	2.65	4.83	3.48	6.50	5.49
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	3.55	3.75	3.13	3.16	2.32	2.08	1.98	1.93	1.80	1.96	1.95
Quick Ratio	3.21	3.30	2.72	2.71	1.95	1.72	1.61	1.62	1.49	1.63	1.60
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-577	-825	-962	-1,002	-1,134	-968	-986	-761	-527	-313	-75
Operating Cash Flow to CapEx	-262.19%	-448.92%	-241.94%	-49.50%	-141.21%	-197.07%	-86.94%	140.94%	81.27%	78.15%	601.46%
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	0.19	0.22	0.28	0.36	0.40	0.48	0.54	0.58	0.65	0.73	0.76
Accounts Receivable Turnover	4.32	6.22	7.68	8.85	9.26	7.42	7.47	7.55	7.37	7.25	7.02
Inventory Turnover	1.09	1.12	1.12	1.14	1.09	1.14	1.22	1.44	1.30	1.35	1.40
Fixed Asset Turnover	1.98	2.01	2.18	2.37	2.27	2.36	2.43	2.42	2.63	2.77	2.91
Accounts Payable Turnover	1.03	1.27	1.31	1.17	1.25	1.42	1.55	1.66	1.65	1.76	1.90
Days Sales Outstanding (DSO)	84.59	58.65	47.52	41.25	39.43	49.21	48.84	48.32	49.54	50.37	52.01
Days Inventory Outstanding (DIO)	334.44	326.80	324.84	319.12	335.52	321.09	299.95	253.30	279.89	271.09	261.37
Days Payable Outstanding (DPO)	354.95	288.04	279.07	311.82	292.97	257.93	235.38	219.73	221.21	207.51	191.66
Cash Conversion Cycle (CCC)	64.07	97.41	93.29	48.55	81.98	112.37	113.41	81.89	108.21	113.95	121.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	386	808	900	1,108	1,252	1,593	1,811	1,785	1,723	1,907	1,969
Invested Capital Turnover	5.41	2.97	3.42	3.29	3.00	2.30	2.29	2.29	2.56	2.39	2.41
Increase / (Decrease) in Invested Capital	249	565	739	876	865	785	911	677	471	314	158
Enterprise Value (EV)	18,837	19,139	15,792	16,387	16,576	14,587	13,365	22,174	18,084	27,453	24,329
Market Capitalization	22,834	22,484	18,689	19,042	18,861	16,355	14,920	23,824	19,693	29,046	26,131
Book Value per Share	$3.25	$3.07	$2.79	$2.73	$2.60	$2.48	$2.48	$2.49	$2.40	$2.52	$2.69
Tangible Book Value per Share	$3.22	$3.04	$2.75	$2.70	$2.56	$2.44	$2.44	$2.45	$2.37	$2.48	$2.64
Total Capital	4,921	4,645	4,427	4,294	4,423	4,386	4,403	4,487	4,350	4,423	4,725
Total Debt	538	488	628	531	886	1,026	1,037	1,051	1,018	924	954
Total Long-Term Debt	209	206	207	202	198	199	185	188	166	160	146
Net Debt	-3,997	-3,345	-2,897	-2,655	-2,286	-1,767	-1,556	-1,651	-1,609	-1,593	-1,802
Capital Expenditures (CapEx)	121	126	121	158	157	157	110	134	92	56	44
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-467	-101	-108	-87	-90	60	159	48	0.81	160	153
Debt-free Net Working Capital (DFNWC)	4,068	3,732	3,417	3,099	3,082	2,853	2,752	2,750	2,628	2,676	2,909
Net Working Capital (NWC)	3,739	3,450	2,996	2,770	2,393	2,026	1,900	1,886	1,777	1,913	2,100
Net Nonoperating Expense (NNE)	117	89	158	-341	99	68	45	37	96	-0.60	-11
Net Nonoperating Obligations (NNO)	-3,997	-3,350	-2,899	-2,655	-2,286	-1,767	-1,556	-1,651	-1,609	-1,593	-1,802
Total Depreciation and Amortization (D&A)	-8.00	2.61	17	5.61	7.09	12	3.03	55	29	13	9.86
Debt-free, Cash-free Net Working Capital to Revenue	-33.02%	-6.50%	-5.99%	-3.95%	-3.67%	2.16%	5.14%	1.46%	0.02%	3.83%	3.35%
Debt-free Net Working Capital to Revenue	287.27%	239.65%	188.72%	140.57%	125.33%	103.27%	88.87%	82.92%	68.98%	64.09%	63.76%
Net Working Capital to Revenue	264.04%	221.55%	165.47%	125.67%	97.34%	73.34%	61.37%	56.87%	46.63%	45.81%	46.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.33)	($0.26)	($0.28)	$0.16	($0.27)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.07
Adjusted Weighted Average Basic Shares Outstanding	1.34B	1.35B	1.36B	1.36B	1.36B	1.36B	1.36B	1.38B	1.37B	1.39B	1.41B
Adjusted Diluted Earnings per Share	($0.33)	($0.26)	($0.28)	$0.15	($0.26)	($0.19)	($0.09)	($0.09)	($0.10)	$0.00	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	1.34B	1.35B	1.36B	1.39B	1.36B	1.36B	1.36B	1.38B	1.37B	1.45B	1.46B
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	206.27M	208.33M	209.27M	211.62M	208.77M	208.55M	209.40M	211.81M	210.58M	218.10M	220.88M
Normalized Net Operating Profit after Tax (NOPAT)	-328	-260	-223	-126	-269	-183	-75	-84	-56	7.77	83
Normalized NOPAT Margin	-86.30%	-58.03%	-37.48%	-16.11%	-42.35%	-24.34%	-8.07%	-8.41%	-4.93%	0.70%	6.33%
Pre Tax Income Margin	-113.38%	-75.24%	-61.73%	29.35%	-55.29%	-32.39%	-11.40%	-9.81%	-7.57%	1.87%	7.57%
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%

Key Financial Trends

BeOne Medicines (NASDAQ:ONC) has shown meaningful financial trends over the last four years, reflecting both improvements and challenges in its operations, investment, and financial structure.

Positive Developments:

Significant increase in operating revenue from $380M in Q4 2022 to over $1.3B by Q2 2025, showing strong top-line growth.
Net income turned positive starting Q3 2023 with $215M, and continued improvement reaching $94.3M in Q2 2025, evidencing operational profitability recovery.
Strong gross profit margin with gross profit exceeding $1.15B in Q2 2025, indicating effective cost of revenue control relative to revenue.
Cash and equivalents increased from $3.5B in Q1 2023 to $2.75B in Q2 2025, maintaining a substantial liquidity buffer despite investments and financing activities.
Consistent growth in total assets from approximately $5.95B in Q1 2023 to $6.3B in Q2 2025, reflecting asset base expansion.

Neutral Factors:

Depreciation and amortization expenses fluctuate but remain significant, impacting net income but consistent with capital asset investment cycles.
Total operating expenses remain high, around $1B per quarter in recent periods, reflecting sustained investments in R&D and SG&A, typical for a biopharmaceutical company.
Shares outstanding have gradually increased over time, modestly diluting earnings per share but supporting capital raising efforts.

Areas of Concern:

Net losses persisted through 2022 and early 2023, with a high of $445M loss in Q4 2022, signaling historical operational challenges.
High research and development expenses consistently over $400M per quarter, while key to innovation, continue to pressure profitability.
Significant fluctuations in net cash from operating activities from negative $563M in Q1 2023 to positive $263M in Q2 2025 highlight volatility in core cash generation.
Debt levels remain material with short-term debt around $800M and long-term debt about $146M as of Q2 2025, though manageable, warrant monitoring for future refinancing risk.
Accumulated deficit remains large, with retained earnings approximately negative $8.5B in Q2 2025, reflecting cumulative historical losses.

In summary, BeOne Medicines has demonstrated strong growth in revenues and improving profitability since hitting lows in 2022 and early 2023. The company maintains robust liquidity and asset growth, responsibly managing its liabilities. However, high operating and R&D expenses continue to press on net margins and cash flows. Retail investors should weigh the company's positive momentum and increasing net income against its legacy losses and ongoing investment requirements.

08/21/25 03:14 PMAI 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 2024 ended on December 31, 2024.

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 -$644.79 million in 2024, rising from -$18.55 million in 2014. The previous period was -$881.71 million in 2023. Find out what analysts predict for BeOne Medicines in the coming months.

What is BeOne Medicines' operating income?

BeOne Medicines' total operating income in 2024 was -$568.20 million, based on the following breakdown:

Total Gross Profit: $3.22 billion
Total Operating Expenses: $3.78 billion

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

Over the last 10 years, BeOne Medicines' total revenue changed from $13.04 million in 2014 to $3.81 billion in 2024, a change of 29,130.8%.

How much debt does BeOne Medicines have?

BeOne Medicines' total liabilities were at $2.59 billion at the end of 2024, a 14.1% increase from 2023, and a 5,998.9% increase since 2015.

How much cash does BeOne Medicines have?

In the past 9 years, BeOne Medicines' cash and equivalents has ranged from $17.87 million in 2015 to $4.38 billion in 2021, and is currently $2.63 billion as of their latest financial filing in 2024.

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 0.00 in 2014 to 2.40 in 2024, a change of 240.4%.

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This page (NASDAQ:ONC) was last updated on 8/21/2025 by MarketBeat.com Staff

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