HUTCHMED DRC (HCM) financial statements
HUTCHMED DRC reported revenue of $549M in fiscal 2025, up 10.9% a year over 9 years.
Net income was $457M and the operating margin -7.1%, against -21.6% in 2016.
Free cash flow was -$79M.
The diluted share count rose 46% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from HUTCHMED DRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $216M | $241M | $214M | $205M | $228M | $356M | $426M | $838M | $630M | $549M |
| Cost of revenue | $149M | $170M | — | — | — | — | $311M | $384M | $349M | $336M |
| Gross profit | $67M | $71M | — | — | — | — | $115M | $454M | $281M | $212M |
| Research and development | $67M | $76M | $114M | $138M | $175M | $299M | $387M | $302M | $212M | $148M |
| Selling, general and admin | $40M | $43M | $49M | $53M | $61M | $127M | $136M | $133M | $113M | $103M |
| Operating income | -$47M | -$53M | -$93M | -$146M | -$197M | -$328M | -$408M | $18M | -$44M | -$39M |
| Interest expense | $2M | $1M | $1M | $1M | $787,000 | $592,000 | $652,000 | $759,000 | $3M | $3M |
| Pre-tax income | $21M | -$54M | -$87M | -$141M | -$190M | -$216M | -$410M | $58M | -$1M | $499M |
| Income tax | $4M | $3M | $4M | $3M | $5M | $12M | -$283,000 | $5M | $7M | $64M |
| Net income | $12M | -$27M | -$75M | -$106M | -$126M | -$195M | -$361M | $101M | $38M | $457M |
| EPS (diluted) | $0.02 | -$0.04 | -$0.11 | -$0.16 | -$0.18 | -$0.25 | -$0.43 | $0.12 | $0.04 | $0.52 |
| Diluted shares | 600M | 617M | 664M | 666M | 698M | 793M | 847M | 869M | 873M | 873M |
| Gross margin | 31.0% | 29.6% | — | — | — | — | 27.0% | 54.1% | 44.6% | 38.7% |
| Operating margin | -21.6% | -22.1% | -43.3% | -71.4% | -86.3% | -92.2% | -95.6% | 2.2% | -6.9% | -7.1% |
| Net margin | 5.4% | -11.1% | -34.9% | -51.7% | -55.2% | -54.7% | -84.6% | 12.0% | 6.0% | 83.3% |
Balance sheet
Fiscal years, from HUTCHMED DRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $104M | $358M | $301M | $217M | $435M | $1.0B | $631M | $886M | $836M | $1.4B |
| Receivables | $41M | $38M | $40M | $41M | $48M | $84M | $98M | $117M | $156M | $127M |
| Inventory | $13M | $12M | $12M | $16M | $20M | $36M | $57M | $50M | $50M | $41M |
| Total current assets | $167M | $432M | $371M | $317M | $531M | $1.2B | $840M | $1.1B | $1.1B | $1.6B |
| Property, plant and equipment | $10M | $14M | $17M | $21M | $24M | $41M | $76M | $100M | $92M | $95M |
| Goodwill | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M |
| Total assets | $342M | $598M | $532M | $465M | $724M | $1.4B | $1.0B | $1.3B | $1.3B | $1.8B |
| Total current liabilities | $95M | $105M | $85M | $113M | $158M | $312M | $354M | $403M | $377M | $316M |
| Long-term debt | $27M | — | $27M | $27M | $27M | — | $18M | $48M | $59M | $68M |
| Total liabilities | $138M | $113M | $120M | $152M | $205M | $333M | $393M | $536M | $502M | $502M |
| Shareholders' equity | $184M | $462M | $389M | $288M | $484M | $987M | $610M | $731M | $760M | $1.2B |
| Net debt | -$33M | -$55M | -$59M | -$94M | -$209M | -$351M | -$295M | -$204M | -$71M | $22M |
Cash flow
Fiscal years, from HUTCHMED DRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$10M | -$9M | -$33M | -$81M | -$62M | -$204M | -$269M | $219M | $497,000 | -$65M |
| Capital spending | $4M | $5M | $6M | $9M | $8M | $16M | $37M | $33M | $18M | $14M |
| Free cash flow | -$14M | -$14M | -$39M | -$89M | -$70M | -$221M | -$305M | $187M | -$17M | -$79M |
| Share buybacks (net) | -$604,000 | -$1M | -$5M | -$346,000 | -$13M | -$27M | -$48M | -$9M | -$36M | — |
| Free cash flow margin | -6.4% | -5.8% | -18.3% | -43.7% | -30.7% | -62.0% | -71.6% | 22.3% | -2.8% | -14.4% |
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Open HCM in InvestinglyQuestions
What was HUTCHMED DRC's revenue in 2025?
$549M in fiscal 2025, from its 10-K filing.
How much free cash flow does HUTCHMED DRC generate?
-$79M in fiscal 2025 (operating cash flow minus capital spending).
From HUTCHMED DRC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.