BeiGene, Ltd. (ONC)
POSITIVEFundamental
71
Preço
$379.00
Capitalização de Mercado
$42.36B
Parte 1 · Quanto vale a empresa
Visão Geral
ONC trades under BeOne Medicines, formerly known as BeiGene, a global biotechnology company that discovers, develops and sells cancer drugs. Its lead product, Brukinsa, treats certain blood cancers by blocking an enzyme (BTK) the cancer cells need to survive. Unlike a diversified pharmaceutical company, BeOne's revenue and value are concentrated in a small number of approved oncology drugs sold through its own commercial teams in the United States, Europe and China.
Como gera receita
Almost all revenue comes from product sales of approved drugs, chiefly Brukinsa, plus smaller in-licensed products such as Amgen's oncology portfolio that BeOne distributes in China. Because it sells directly rather than relying on royalties from a partner, it captures the full margin on each sale but also carries the cost of its own sales forces across multiple continents, and revenue depends on doctors continuing to prescribe its drugs over rival treatments.
Receita por segmento
The company's lead BTK-inhibitor drug for blood cancers such as chronic lymphocytic leukemia, sold globally and the main driver of growth.
An immunotherapy antibody used against several solid tumor cancers, the company's second-largest product.
Oncology drugs originally developed by Amgen that BeOne markets and sells in China under a licensing agreement.
Vantagem competitiva
Patentes e licenças · EstreitaPatents on Brukinsa's chemical structure and manufacturing, plus regulatory approvals in dozens of countries, keep generic competitors out for a fixed period, and clinical data showing advantages over the first BTK inhibitor to market support doctor preference. The protection is time-limited by patent expiry and contestable by newer drugs in the same class, so it does not amount to a durable structural barrier.
O que impulsiona a procura
DefensivoCancer treatment is not discretionary spending and demand does not track the economic cycle; growth instead depends on winning regulatory approvals for new indications, expanding into new countries, and doctors switching patients from older drugs. The main swing factor is clinical and regulatory success, not the broader economy.
Principais riscos
- Revenue concentration in a single drug — Brukinsa accounts for roughly three-quarters of revenue; a safety issue, a more effective competing drug, or loss of patent protection would have an outsized effect on the whole company.
- Dependence on regulatory approvals — Selling a drug in a new country or for a new use requires approval from that country's health regulator, a process that can be delayed, restricted or denied regardless of clinical trial results.
- Pricing and reimbursement pressure — Government and private payers in every market where the company sells negotiate or set drug prices and reimbursement terms, and unfavorable changes can reduce revenue on approved products without any change to the drug itself.
- Clinical trial and pipeline risk — Future growth depends on drugs still in clinical trials succeeding and reaching approval; most experimental cancer drugs fail somewhere in that process, and a failure removes an assumed source of future revenue.
Os argumentos a favor
Buyers argue that Brukinsa's clinical data advantages over older BTK inhibitors are winning doctor preference and market share even as the drug class matures, that expansion into Europe and other markets outside the US and China still has room to run, and that the company reaching full-year profitability in 2025 for the first time shows the commercial model scaling.
Os argumentos contra
Sellers fear that concentrating three-quarters of revenue in one drug leaves little room for error if a safety signal, a stronger competitor or a reimbursement setback emerges, that US growth has already begun decelerating from its earlier triple-digit pace, and that sustaining growth requires the pipeline to deliver new approvals on a schedule biotech development rarely respects.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balanço & Liquidez
Receita
$6.13B
Últimos 12 meses (até 30/06/2026)
Resultado Líquido
$656M
Últimos 12 meses (até 30/06/2026)
Fluxo de Caixa Livre
$942M
Capital Próprio Total
$4.36B
Passivo Total
$3.83B
Rácio de Liquidez
3.40
Cobertura de Juros
7.97
Dívida/EBITDA
2.06
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$248.20
Preço Atual
$379.00
Margem de Segurança
-52.7%
Intervalo de Valor Justo
$161.33 - $335.07
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
845.41
ROE
6.6%
Rácio P/B
106.27
P/FCF
413.35
Margem Bruta
88.9%
ROIC
10.3%
Radar de Rentabilidade
Value Creation (Economic Moat)
ROIC
10.3%
WACC
11.6%
ROIC − WACC
-1.2 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Critérios de Análise Fundamental
Aprovado (19)
- EPS shows upward trend
- Price CAGR 28.57%
- ROIC 10.3%
- Gross Margin 88.9%
- Debt/Equity ratio
- Operating Margin 15.1%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- Revenue Growth 5Y 78.3%
- Analyst Consensus 92% Buy
- Earnings Surprise avg 16.6%
- Earnings Quality (OCF/NI) 2.26
- Net Margin Trend 10.7% vs -3.9%
- Piotroski F-Score 7/9
Reprovado (6)
- P/FCF 413.35
- P/B Ratio 106.27
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 5.2%
- Share Dilution 10.1%
Indisponível (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Piotroski F-Score
Saúde financeira sólida
Qualidade dos Resultados
Alta qualidade: resultados respaldados por caixa
Diluição de Ações
A emitir novas ações, diluindo a participação
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. John V. Oyler | Co-Founder, Executive Chairman & CEO | 57 |
| Mr. Wang Lai Ph.D. | President and Global Head of Research & Development | 48 |
| Dr. Xiaodong Wang Ph.D. | Co-Chairman of Scientific Advisory Board, Non-Executive Director & Co-Founder | 62 |
| Mr. Aaron Rosenberg | Chief Financial Officer | 48 |
| Mr. Chan Lee | General Counsel, Senior VP & Corporate Secretary | 57 |
| Mr. Titus B. Ball | VP & Chief Accounting Officer | 51 |
| Mr. Marcello Damiani | Chief Technology Officer | 55 |
| Ms. Liza Heapes | Head of Investor Relations | - |
| Ms. Eleanor Duff Ph.D. | Senior VP & Head of Corporate Communications | - |
| Mr. Graham Hardiman | Global Head of Human Resources | - |
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for ONC, sourced from Markets Gazette.