ONC Healthcare

BeOne Medicines AG

$355.00-1.74%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: Switzerland
Market cap: 40.2B USD
Enterprise value: 37.8B USD
Full-time employees: 12,000

Overall health

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #99 of 1,157 healthcare companies (top 9%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
BeOne Medicines made a profit per share in its latest year after a loss the year before.
Operating margin at a 6-year high. 8.4% in 2025, the best of the last 6 years.
BeOne Medicines kept 8.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Cash flow well above reported profit. Free cash flow is 2.0× reported profit.
Free cash flow is 2.0× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $309M in 2020 to $5.3B in 2025.
BeOne Medicines's fiscal-year revenue rose in each of the five years to 2025, from $309M to $5.3B.

StockQuotient Score

73/ 100

Oct 5 74 → Nov 4 73 (-1)

Valuation

Is the price right?

46/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 2.3% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.6%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.10Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.0%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.26Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield3.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield12.9%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

92/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 6.8%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 4.46Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth50.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 5.27Sector median: 0.0584 · MAD: 0.0840

Revenue growth34.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.90Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

93/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 3.1 points to 15.1%

Why

Stronger than most peers on:

▲ ROIC
▲ ROA
▲ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin15.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.66Sector median: 0.0706 · MAD: 0.1217

Return on assets7.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.02Sector median: 0.0166 · MAD: 0.0537

Return on invested capital59.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.81Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin88.9%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity12.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.52

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.32Sector median: 0.6250 · MAD: 0.3380

Current ratio3.40×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.59Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.22×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.00Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about BeOne Medicines

Is BeOne Medicines getting weaker?: Its latest SEC filing (Aug 5, 2026) was mixed: some things better, some worse: operating margin rose 3.1 points to 15.1%; share count up 2.3%. Its overall score is unchanged at 73/100 since Oct 28, 2026.
How is BeOne Medicines valued vs its peers?: Priced about in line with its peers. Valuation scores 46/100 against 1,393 healthcare peers.
Is BeOne Medicines growing?: Yes, faster than most of its peers. Growth scores 92/100 against 1,393 healthcare peers. 3-year revenue growth 50.1% vs a peer median of 5.8% (stronger than 93% of peers).3-year revenue growth 50.1% vs peers 5.8% (stronger than 93% of peers).
How profitable is BeOne Medicines?: More profitable than most of its peers. Profitability scores 93/100 against 1,393 healthcare peers. Return on invested capital 59.8% vs a peer median of 4.7% (stronger than 95% of peers).Return on invested capital 59.8% vs peers 4.7% (stronger than 95% of peers).
How risky is BeOne Medicines?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Mixed: some things better, some worse

Operating margin rose 3.1 points to 15.1%
Share count up 2.3% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	5.7B USD	6.1B USD	+6.8%
Net income (12 months)	513.0M USD	655.7M USD	+27.8%
Operating margin	12.0%	15.1%	+3.1 pts
Free cash flow (12 months)	1.1B USD	1.3B USD	+19.3%
Debt	1.1B USD	1.1B USD	+5.2%
Cash	4.8B USD	5.1B USD	+6.4%
Shares outstanding	1.45B	1.48B	+2.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	86.0%	79.8%	84.5%	84.4%	87.5%	▲ 3.1 pts
Operating margin	-122.3%	-126.4%	-49.1%	-14.9%	8.4%	▲ 23 pts
Net margin	-123.9%	-141.5%	-35.9%	-16.9%	5.4%	▲ 22 pts
Return on assets (ROA)	-17.1%	-31.4%	-15.2%	-10.9%	3.5%	▲ 14 pts
Return on equity (ROE)	-23.8%	-45.7%	-24.9%	-19.4%	6.6%	▲ 26 pts
Free cash flow margin	-132.8%	-128.7%	-69.9%	-16.6%	17.6%	▲ 34 pts
Current ratio	4.76×	3.55×	2.32×	1.80×	3.41×	▲ 89%
Quick ratio	4.61×	3.35×	2.09×	1.58×	3.08×	▲ 95%
Debt to equity	0.10×	0.12×	0.25×	0.31×	0.24×	▼ 23%
Interest coverage	-49.17×	-82.48×	-276.75×	-26.06×	7.68×	▲ 129%

ONC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

BeOne Medicines made a profit per share in its latest year after a loss the year before.

Operating margin at a 6-year high. 8.4% in 2025, the best of the last 6 years.

BeOne Medicines kept 8.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Cash flow well above reported profit. Free cash flow is 2.0× reported profit.

Free cash flow is 2.0× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $309M in 2020 to $5.3B in 2025.

BeOne Medicines's fiscal-year revenue rose in each of the five years to 2025, from $309M to $5.3B.

Questions investors ask about BeOne Medicines

Is BeOne Medicines getting weaker?

Its latest SEC filing (Aug 5, 2026) was mixed: some things better, some worse: operating margin rose 3.1 points to 15.1%; share count up 2.3%. Its overall score is unchanged at 73/100 since Oct 28, 2026.

How is BeOne Medicines valued vs its peers?

Priced about in line with its peers. Valuation scores 46/100 against 1,393 healthcare peers.

Is BeOne Medicines growing?

Yes, faster than most of its peers. Growth scores 92/100 against 1,393 healthcare peers. 3-year revenue growth 50.1% vs a peer median of 5.8% (stronger than 93% of peers).3-year revenue growth 50.1% vs peers 5.8% (stronger than 93% of peers).

How profitable is BeOne Medicines?

More profitable than most of its peers. Profitability scores 93/100 against 1,393 healthcare peers. Return on invested capital 59.8% vs a peer median of 4.7% (stronger than 95% of peers).Return on invested capital 59.8% vs peers 4.7% (stronger than 95% of peers).

How risky is BeOne Medicines?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

5.7B USD

6.1B USD

+6.8%

Net income (12 months)

513.0M USD

655.7M USD

+27.8%

Operating margin

12.0%

15.1%

+3.1 pts

Free cash flow (12 months)

1.1B USD

1.3B USD

+19.3%

Debt

1.1B USD

1.1B USD

+5.2%

Cash

4.8B USD

5.1B USD

+6.4%

Shares outstanding

1.45B

1.48B

+2.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

86.0%

79.8%

84.5%

84.4%

87.5%

▲ 3.1 pts

Operating margin

-122.3%

-126.4%

-49.1%

-14.9%

8.4%

▲ 23 pts

Net margin

-123.9%

-141.5%

-35.9%

-16.9%

5.4%

▲ 22 pts

Return on assets (ROA)

-17.1%

-31.4%

-15.2%

-10.9%

3.5%

▲ 14 pts

Return on equity (ROE)

-23.8%

-45.7%

-24.9%

-19.4%

6.6%

▲ 26 pts

Free cash flow margin

-132.8%

-128.7%

-69.9%

-16.6%

17.6%

▲ 34 pts

Current ratio

4.76×

3.55×

2.32×

1.80×

3.41×

▲ 89%

Quick ratio

4.61×

3.35×

2.09×

1.58×

3.08×

▲ 95%

Debt to equity

0.10×

0.12×

0.25×

0.31×

0.24×

▼ 23%

Interest coverage

-49.17×

-82.48×

-276.75×

-26.06×

7.68×

▲ 129%