BeOne Medicines Ltd (HK:6160)
:6160
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BeOne Medicines Ltd
(6160)
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Rating:58Neutral
Price Target:
HK$171.00
▼(-6.20% Downside)
Action:ReiteratedDate:03/02/26
The score is primarily supported by improved financial performance in 2025 (return to profitability and strong positive free cash flow) and a solid-enough balance sheet, but it is held back by very expensive valuation (high P/E) and weak near-term technical positioning (below key moving averages with subdued momentum).
Positive Factors
Return to profitability
BeiGene/BeOne reported a clear profitability inflection in 2025, with revenue growth and a positive ~5.4% net margin. A sustained shift from loss to profit materially reduces near-term financing needs, proving commercial traction of core products and improving long-term funding flexibility for R&D and expansion.
Negative Factors
Short profit track record
Profitability in a single year after multiple years of losses raises durability concerns. One-year inflection may reflect timing of launches or milestones rather than stable earnings power; future quarters could revert, complicating planning, capital allocation and investor confidence over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Return to profitability
BeiGene/BeOne reported a clear profitability inflection in 2025, with revenue growth and a positive ~5.4% net margin. A sustained shift from loss to profit materially reduces near-term financing needs, proving commercial traction of core products and improving long-term funding flexibility for R&D and expansion.
Read all positive factors
BeOne Medicines Ltd (6160) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$277.46B
Dividend YieldN/A
Average Volume (3M)5.08M
Price to Earnings (P/E)124.8
Beta (1Y)1.02
Revenue Growth49.63%
EPS GrowthN/A
CountryHK
Employees11,000
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.36
Shares Outstanding1,426,363,900
10 Day Avg. Volume3,608,600
30 Day Avg. Volume5,076,742
Financial Highlights & Ratios
PEG Ratio-0.80
Price to Book (P/B)7.49
Price to Sales (P/S)6.10
P/FCF Ratio34.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$244.26Price Target Upside33.99% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)3.66
Revenue Forecast (FY)HK$50.12B
BeOne Medicines Ltd Business Overview & Revenue Model
Company Description
BeiGene Ltd. is a global, science-driven biotechnology company focused on developing innovative and affordable medicines to improve treatment outcomes and access for patients worldwide. The company was founded by Xiao Dong Wang and John V. Oyler o...
How the Company Makes Money
BeiGene primarily makes money by selling oncology drugs and, to a lesser extent, through collaboration- and license-related income. (1) Product sales: The largest revenue stream is net product revenue from commercialization of its medicines in mar...
BeOne Medicines Ltd Earnings Call Summary
Earnings Call Date:Aug 28, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong performance by BeOne, with significant revenue growth driven by BRUKINSA's market leadership and robust R&D advancements. However, challenges remain due to aggressive competition and potential regulatory impacts. Overall, the positive aspects significantly outweigh the challenges.Positive Updates
Significant Revenue Growth
BeOne's revenue reached $1.3 billion, representing a 42% year-on-year growth.
Negative Updates
Competition and Pricing Challenges
Despite strong market position, competition aggressively discounting in the BTK market.
Read all updates
Q2-2025 Updates
Positive
Negative
Significant Revenue Growth
BeOne's revenue reached $1.3 billion, representing a 42% year-on-year growth.
Read all positive updates
Company Guidance
During the Q2 2025 earnings call for BeOne Medicines, the company provided strong financial guidance and updates on their strategic priorities. The company reported a revenue of $1.3 billion for the second quarter, marking a 42% year-over-year increase. BRUKINSA, the leading BTK inhibitor in the U.S. market, contributed $950 million to the global revenue, showcasing a 49% year-over-year growth. The company's gross margin improved to approximately 87%, attributed to favorable product mix and production cost efficiencies. The financial guidance for the full fiscal year 2025 was updated, with total revenue expectations ranging between $5 billion and $5.3 billion. The operating expenses are projected to remain between $4.1 billion and $4.4 billion, with a commitment to achieving positive GAAP operating income and generating positive free cash flow. The company also highlighted several upcoming R&D milestones, including global filings and pivotal data readouts for their key pipeline assets. Overall, BeOne Medicines emphasized their robust execution, strong market positioning, and continued focus on innovation and growth across their oncology portfolio.BeOne Medicines Ltd Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.35B | 3.81B | 2.46B | 1.42B | 1.18B |
| Gross Profit | 4.56B | 3.22B | 2.08B | -511.06M | -447.86M |
| EBITDA | 589.69M | -396.44M | -1.12B | -1.72B | -1.39B |
| Net Income | 287.36M | -644.79M | -881.71M | -2.00B | -1.46B |
Balance Sheet | |||||
| Total Assets | 8.23B | 5.92B | 5.81B | 6.38B | 8.65B |
| Cash, Cash Equivalents and Short-Term Investments | 4.59B | 2.63B | 3.17B | 4.53B | 6.62B |
| Total Debt | 1.09B | 1.08B | 930.18M | 596.67M | 694.64M |
| Total Liabilities | 3.84B | 2.59B | 2.27B | 2.00B | 2.40B |
| Stockholders Equity | 4.36B | 3.33B | 3.54B | 4.38B | 6.24B |
Cash Flow | |||||
| Free Cash Flow | 943.13M | -669.77M | -1.75B | -1.97B | -1.61B |
| Operating Cash Flow | 1.13B | -140.63M | -1.16B | -1.50B | -1.30B |
| Investing Cash Flow | -276.56M | -548.35M | 60.00M | 1.08B | 640.66M |
| Financing Cash Flow | 1.06B | 193.45M | 416.48M | -18.97M | 3.64B |
BeOne Medicines Ltd Technical Analysis
Neutral
182.30
Price Trends
191.44
Negative
194.61
Negative
188.23
Negative
Market Momentum
-3.60
Negative
56.88
Neutral
86.16
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6160, the sentiment is Neutral. The current price of 182.3 is above the 20-day moving average (MA) of 174.05, below the 50-day MA of 191.44, and below the 200-day MA of 188.23, indicating a neutral trend. The MACD of -3.60 indicates Negative momentum. The RSI at 56.88 is Neutral, neither overbought nor oversold. The STOCH value of 86.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:6160.
BeOne Medicines Ltd Risk Analysis
BeOne Medicines Ltd disclosed 93 risk factors in its most recent earnings report. BeOne Medicines Ltd reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BeOne Medicines Ltd Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | HK$342.17B | 13.23 | 23.81% | 1.84% | 11.55% | 64.46% | |
78 Outperform | HK$238.33B | 35.71 | 16.09% | 0.97% | 8.68% | 0.82% | |
63 Neutral | HK$144.73B | 11.12 | 10.55% | ― | 16.90% | 63.11% | |
61 Neutral | HK$158.77B | 144.97 | 4.82% | ― | 52.78% | ― | |
58 Neutral | HK$277.46B | 124.75 | 7.28% | ― | 49.63% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:6160
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24.12%
BeOne Medicines Ltd Corporate Events
BeOne Medicines Swings to Profit on 40% Revenue Surge in 2025
Mar 25, 2026
BeOne Medicines Ltd. reported a strong turnaround for the year ended December 31, 2025, as total revenues rose 40.2% year-on-year to about US$5.3 billion, driven almost entirely by product revenue growth of roughly US$1.5 billion. The surge in sal...
BeOne Medicines Updates HKEX Waivers and Compliance Disclosures
Mar 13, 2026
BeOne Medicines has published an updated company information sheet dated March 13, 2026, detailing its current waivers and exemptions from certain provisions of the Hong Kong Listing Rules and related ordinances. The board affirms responsibility f...
BeOne Medicines Updates on Employee Share Purchase Plan Uptake
Mar 12, 2026
BeOne Medicines has reported the outcome of the latest offering period under its Fifth Amended and Restated 2018 Employee Share Purchase Plan, which allows eligible staff to buy shares, including ADSs, at a 15% discount funded through payroll dedu...
BeOne Medicines Aligns 2025 Results With Dual Hong Kong and U.S. Reporting Rules
Mar 11, 2026
BeOne Medicines Ltd. is a Switzerland-incorporated biopharmaceutical company listed in Hong Kong and the U.S., operating under both the Hong Kong Listing Rules and U.S. securities regulations. Its board features a chairman, a non-executive directo...
BeOne Medicines Opens New 2018 Employee Share Purchase Plan Offering Period
Mar 10, 2026
BeOne Medicines has launched a new six‑month offering period under its 2018 Employee Share Purchase Plan, running from March 2 to August 31, 2026, allowing eligible staff to buy shares or ADSs at a 15% discount to market. The plan, overseen ...
BeOne Medicines Grants New RSUs to 188 Employees Under Incentive Plan
Mar 6, 2026
BeOne Medicines has granted 21,197 restricted share units in the form of ADSs, representing 275,561 underlying shares or about 0.02% of its issued share capital, to 188 employees under its 2016 Share Option and Incentive Plan. The awards, which re...
BeOne Medicines Gains Clean Swiss Audit in Voluntary Disclosure
Feb 27, 2026
BeOne Medicines Ltd., a Swiss-incorporated biopharmaceutical company listed in Hong Kong, has provided an update on its governance and financial reporting, highlighting an internationally experienced board led by Chairman and Executive Director Jo...
BeOne Medicines Files 2025 Form 10-K, Underscoring Cross-Border Compliance
Feb 26, 2026
BeOne Medicines Ltd has announced that it has filed its annual report on Form 10-K for the fiscal year ended December 31, 2025, with the U.S. Securities and Exchange Commission. The filing confirms the company’s status as a large accelerated...
BeOne Medicines posts 2025 results and issues cautious 2026 outlook
Feb 26, 2026
BeOne Medicines Ltd., a Switzerland-based biopharmaceutical group listed in Hong Kong, develops innovative drug candidates with a focus on hematology and other specialty therapies. The company is expanding globally and aligns its reporting with bo...
BeOne Medicines Sets Date for 2025 Results and Dual-Regime Reporting
Feb 11, 2026
BeOne Medicines Ltd. will release its fourth-quarter and full-year 2025 financial results, prepared under U.S. GAAP and SEC rules, on February 26, 2026, after Hong Kong trading hours, with the board set to review and approve the figures the same d...
BeOne Medicines Grants New RSUs to 246 Employees Under Incentive Plan
Jan 30, 2026
BeOne Medicines has granted 21,034 restricted share units, equivalent to 273,442 underlying shares or about 0.02% of its issued share capital, to 246 employees under its 2016 Share Option and Incentive Plan. The RSUs, which require no consideratio...
BeOne Medicines Grants 53,322 RSUs Under Incentive Plan to 155 Recipients
Jan 7, 2026
BeOne Medicines has granted 53,322 restricted share units (RSUs), equivalent to 693,186 underlying shares or about 0.04% of its issued share capital, to 155 grantees under its 2016 Share Option and Incentive Plan. The awards, which include a small...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.