BeOne Medicines (ONC) AI Stock Analysis

• Market Cap: $35.19B
• Dividend Yield: N/A
• Average Volume (3M): 317.50K
• Price to Earnings (P/E): 590.6
• Beta (1Y): 0.78
• Revenue Growth: 49.80%
• EPS Growth: N/A
• Country: US
• Employees: 11,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Pharmaceuticals
• EPS (TTM): 1.09
• Shares Outstanding: 109,663,280
• 10 Day Avg. Volume: 320,947
• 30 Day Avg. Volume: 317,503
• PEG Ratio: 1.09
• Price to Book (P/B): 5.84
• Price to Sales (P/S): 5.10
• P/FCF Ratio: -29.04
• Enterprise Value/Market Cap: 1.05
• Enterprise Value/Revenue: 7.41
• Enterprise Value/Gross Profit: 8.59
• Enterprise Value/Ebitda: 122.23
• 1Y Price Target: $397.66
• Price Target Upside: 29.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $366.00 ▲(19.21% Upside)

BeOne Medicines demonstrates strong financial performance and positive earnings call highlights, driving a favorable outlook. However, high valuation metrics and ongoing profitability challenges temper the overall score. The technical analysis suggests potential for growth, but current momentum is moderate.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for products and effective market penetration, supporting long-term business expansion.

FDA Breakthrough Designation

FDA breakthrough designation accelerates the development and review process, potentially leading to faster market entry and competitive advantage.

Strong Cash Position

A strong cash position enhances financial flexibility, enabling strategic investments and cushioning against market uncertainties.

Negative Factors

Profitability Challenges

Negative profitability margins indicate challenges in cost management and revenue generation, potentially hindering long-term financial health.

Competitive Market Challenges

Intense competition can pressure pricing and market share, impacting revenue growth and profitability over time.

Delayed Clinical Trials

Delays in clinical trials can postpone product launches, affecting revenue timelines and strategic planning.

BeOne Medicines Business Overview & Revenue Model

Company Description

BeOne Medicines, formerly known as BeiGene, is a global oncology company focused on discovering, developing, and commercializing innovative cancer therapies. Founded in 2010 and headquartered in Cambridge, Massachusetts—with operations spanning over 45 countries across six continents—the company rebranded as BeOne in late 2024 and redomiciled to Basel, Switzerland in 2025. BeOne has established itself as a leader in immuno-oncology and targeted therapies, with key assets including Tevimbra (tislelizumab), a PD-1 monoclonal antibody approved for multiple cancer indications globally, and Brukinsa (zanubrutinib), a Bruton's tyrosine kinase (BTK) inhibitor that surpassed $1.3 billion in annual sales and is approved in major markets such as the U.S., Europe, and China. The company’s strategy combines internal R&D with the development of assets sourced from external partnerships, driving a robust pipeline across hematologic malignancies and solid tumors.

How the Company Makes Money

BeOne Medicines generates revenue primarily through the development and commercialization of its oncology products. Key revenue streams include sales of approved drugs, licensing agreements with larger pharmaceutical companies, and potential milestone payments linked to the development of its therapeutic candidates. The company may also engage in partnerships for research and development, which can provide additional funding and resources, contributing to its overall earnings. Additionally, BeOne Medicines may explore grants and collaborations with academic institutions to support its innovative research efforts.

BeOne Medicines Financial Statement Overview

Summary

BeOne Medicines is on a positive trajectory with strong revenue growth and improved cash flow generation. However, profitability remains a concern, with negative net profit margins and return on equity. The company's balance sheet is stable with low leverage, providing a solid foundation for future growth. Continued focus on operational efficiency and profitability will be crucial for sustained improvement.

Income Statement

BeOne Medicines has shown a significant improvement in revenue growth, with a 9% increase in the TTM period. The gross profit margin remains strong at 85.48%, indicating efficient cost management. However, the net profit margin is negative, reflecting ongoing profitability challenges. The EBIT and EBITDA margins have improved but remain low, suggesting room for operational efficiency improvements.

Balance Sheet

The company's debt-to-equity ratio is relatively low at 0.27, indicating a conservative leverage position. The equity ratio is strong, suggesting a solid capital structure. However, the return on equity is negative, highlighting profitability issues that need addressing to enhance shareholder value.

Cash Flow

Free cash flow has grown significantly by 181.85% in the TTM period, showing improved cash generation capabilities. However, the operating cash flow to net income ratio is low, indicating potential challenges in converting earnings into cash. The free cash flow to net income ratio is positive, suggesting some efficiency in cash utilization.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.97B	3.81B	2.46B	1.42B	1.18B	308.87M
Gross Profit	4.29B	3.22B	2.08B	1.13B	1.01B	238.22M
EBITDA	301.34M	-396.44M	-1.12B	-1.72B	-1.39B	-1.63B
Net Income	68.55M	-644.79M	-881.71M	-2.00B	-1.46B	-1.62B
Balance Sheet
Total Assets	7.63B	5.92B	5.81B	6.38B	8.54B	5.60B
Cash, Cash Equivalents and Short-Term Investments	4.04B	2.63B	3.17B	4.53B	6.62B	4.65B
Total Debt	1.02B	1.08B	930.18M	596.67M	694.64M	561.96M
Total Liabilities	3.50B	2.59B	2.27B	2.00B	2.40B	1.73B
Stockholders Equity	4.13B	3.33B	3.54B	4.38B	6.13B	3.87B
Cash Flow
Free Cash Flow	464.60M	-669.77M	-1.75B	-1.97B	-1.61B	-1.51B
Operating Cash Flow	785.39M	-140.63M	-1.16B	-1.50B	-1.30B	-1.28B
Investing Cash Flow	-331.43M	-548.35M	60.00M	1.08B	640.66M	-3.17B
Financing Cash Flow	958.00M	193.45M	416.48M	-18.97M	3.64B	5.20B

BeOne Medicines Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 307.02
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ONC, the sentiment is Negative. The current price of 307.02 is below the 20-day moving average (MA) of 329.33, below the 50-day MA of 328.93, and above the 200-day MA of 288.39, indicating a neutral trend. The MACD of -7.23 indicates Positive momentum. The RSI at 36.42 is Neutral, neither overbought nor oversold. The STOCH value of 18.63 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ONC.

BeOne Medicines Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DGX	79 Outperform	$19.92B	21.02	13.69%	1.76%	13.74%	14.87%
BIIB	74 Outperform	$25.25B	15.50	9.31%	―	5.00%	-1.03%
ONC	68 Neutral	$35.19B	590.65	1.84%	―	49.80%	―
TEVA	63 Neutral	$34.76B	49.52	10.77%	―	-0.25%	―
SMMT	53 Neutral	$12.66B	-13.72	-292.49%	―	―	-348.63%
BNTX	53 Neutral	$22.03B	-34.76	-2.94%	―	7.04%	-25.24%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

BeOne Medicines Corporate Events

BeOne Medicines Secures $1 Billion Financing Agreement

On November 13, 2025, BeOne Medicines Ltd. entered into a Facilities Agreement with HSBC and other financial institutions, securing senior secured financing through various loan facilities totaling approximately $1 billion. The agreement includes a U.S. dollar-denominated revolving loan and term loan facilities, as well as a Renminbi-denominated term loan facility. The funds are intended for general corporate purposes, refinancing existing debt, and other specified uses. The agreement also outlines security interests, interest rates, repayment schedules, and conditions for prepayment, along with customary covenants and events of default.