Quality Investor

BeOne Medicines AG

Rank #78Hypergrowth

ONC · Nasdaq · Healthcare

BeOne Medicines AG (ONC) — Rank #78 by gross profitability (GP/assets 0.51) · ROE 5.5% · Piotroski F-Score 7 / 9.

As-of 2026-09-28 · CIK 0001651308 · all metrics point-in-time as of the filing date.

About

BeOne Medicines AG, an oncology company, engages in discovering and developing various treatments for cancer patients in the United States, China, Europe, and internationally.

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The company's commercial stage products include BRUKINSA, a small molecule inhibitor of Bruton's Tyrosine Kinase (BTK) for the treatment of various blood cancers; TEVIMBRA, an anti-PD-1 antibody immunotherapy for the treatment of various solid tumor and blood cancers; SYLVANT for the treatment of adult patients with multicentric castleman disease; BAITUOWEI for patients with BC in premenopausal and perimenopausal women, and cancer; and PARTRUVIX for the treatment of various solid tumors. Its clinical stage products comprise Sonrotoclax BGB-11417, a small molecule Bcl-2 inhibitor; BGB-16673, a BTK targeting chimeric degradation activation compound active against wild type and mutant BTK; BG-60366, an EGFR-targeted CDAC; BG-89894 (SYH2039), a MAT2A Inhibitor; BGB-58067, an MTA-Cooperative PRMT5 Inhibitor; BG-T187 and BG-C0902, an anti-EGFRxMET trispecific antibody; BGB-26808, a HPK-1 Inhibitor; BGB-C354, an anti-B7H3 ADC; Zanidatamab, a bispecific HER2-targeted antibody; BG-C137, an anti-FGFR2b ADC; BGB-53038, a Pan-KRAS Inhibitor; BGB-B2033, an anti-GPC3x4-1BB bispecific antibody; BGB-B3227, an anti-MUC1xCD16A bispecific antibody; BG-C477, an anti-CEAADC; BGB-43395, a CDK4 Inhibitor; BG-68501, a CDK2 Inhibitor; BG-C9074, an anti-B7H4 ADC; BGB-21447, a Bcl-2 Inhibitor; and BGB-45035, an IRAK4-targeted CDAC. It also has various preclinical programs. The company has agreements Amgen, BMS, Bio-Thera, EUSA Pharma, Luye Pharmaceutical, and Novartis. The company was formerly known as BeiGene, Ltd. and changed its name to BeOne Medicines AG in May 2025.

BeOne Medicines AG was founded in 2010 and is based in Basel, Switzerland.

Industry
Biotechnology
Sector
Healthcare
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

12,000

Industry

Biotechnology

Exchange

Nasdaq

Signal Flags

1 green1 yellow
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

Quality Profile

Profitability

1/1 pass
GP / assets
0.51
Return on equity
5.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.77
Current ratio
3.40×
Net cash
$4.02B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
9.6%

Growth

1/2 pass
Revenue growth
40.2%
Piotroski F-Score
7 / 9
Share dilution
7.8%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.51

Primary signal (Novy-Marx).

4th of 12 SIC 2834 peers

Return on equity

5.5%

Gross margin

87.5%

3rd of 12 SIC 2834 peers

Revenue growth (YoY)

40.2%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

55.7%

Revenue CAGR (5Y)

76.8%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.77

6th of 12 SIC 2834 peers (best = lowest)

Current ratio

3.40×

4th of 12 SIC 2834 peers

Quick ratio

2.90×

Net cash

$4.02B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$941.74M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

2.28

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

9.6%

Stock-based comp intensity.

Piotroski F-Score

F-Score

7 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Decline
Hypergrowth