BeiGene, Ltd. (ONC) Key Metrics
ONC valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $41.99B
- Enterprise value
- $38.33B
- P/E (TTM)
- 66.0
- Forward P/E
- 35.2
- PEG ratio
- 0.77
- Price / sales
- 6.9 10-yr median 19.2
- Price / book
- 8.0 10-yr median 5.4
- EV / EBITDA
- 33.7
- Dividend yield
- —
- Beta
- 0.61
ONC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsONC valuation Price multiples at each fiscal year-end price.
ONC returns How much profit the business earns on the capital it uses.
ONC per-share figures Results divided by the shares outstanding at year-end.
ONC financial health Debt, liquidity and how easily interest is covered.
ONC efficiency & capital use Working capital cycle and where the cash goes.
ONC valuation history
ONC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ONC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ONC price vs earnings per share
ONC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $34.47B | $19.45B | $18.83B | $22.68B | $25.14B | $21.57B | $9.95B | $7.78B | $4.08B | $942.6M |
| Enterprise value | $31.92B | $17.90B | $16.59B | $18.74B | $19.22B | $17.48B | $9.25B | $6.19B | $3.41B | $591.7M |
| P/E ratio | 120.1 | — | — | — | — | — | — | — | — | — |
| Price / sales | 6.5 | 5.1 | 7.7 | 16.0 | 21.4 | 69.8 | 23.2 | 39.2 | 17.1 | 880.9 |
| Price / book | 7.9 | 5.8 | 5.3 | 5.2 | 4.1 | 5.6 | 10.3 | 4.4 | 6.0 | 2.7 |
| Price / free cash flow | 36.6 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 30.6 | — | — | — | — | — | — | — | 320.2 | — |
| EV / sales | 6.0 | 4.7 | 6.7 | 13.2 | 16.3 | 56.6 | 21.6 | 31.2 | 14.3 | 553.0 |
| EV / EBITDA | 51.8 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 33.9 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 0.8% | −3.3% | −4.7% | −8.8% | −5.8% | −7.5% | −9.5% | −8.7% | −2.3% | −12.6% |
| Free cash flow yield | 2.7% | −3.4% | −9.3% | −8.7% | −6.4% | −7.0% | −9.1% | −8.9% | −1.1% | −12.0% |
| Share price at fiscal year-end | $303.81 | $184.71 | $180.36 | $219.94 | $270.93 | $258.39 | $165.76 | $140.26 | $97.72 | $30.36 |
| Per share | ||||||||||
| Revenue per share | $47.10 | $36.19 | $23.55 | $13.73 | $12.68 | $3.70 | $7.13 | $3.58 | $5.71 | $0.03 |
| Earnings per share | $2.53 | −$6.12 | −$8.45 | −$19.43 | −$15.71 | −$19.47 | −$15.80 | −$12.15 | −$2.23 | −$3.84 |
| Operating cash flow per share | $9.94 | −$1.34 | −$11.09 | −$14.51 | −$14.00 | −$15.38 | −$12.49 | −$9.88 | $0.31 | −$2.88 |
| Free cash flow per share | $8.30 | −$6.36 | −$16.80 | −$19.06 | −$17.39 | −$18.12 | −$15.13 | −$12.42 | −$1.10 | −$3.64 |
| Cash per share | $40.08 | $24.95 | $30.38 | $43.97 | $71.32 | $55.72 | $16.36 | $32.13 | $20.04 | $11.86 |
| Book value per share | $38.44 | $31.65 | $33.89 | $42.50 | $66.09 | $46.35 | $16.02 | $31.63 | $16.38 | $11.37 |
| Tangible book value per share | $37.89 | $30.42 | $32.84 | $41.58 | $64.98 | $45.71 | $15.92 | $30.69 | $15.90 | $11.37 |
| Capex per share | $1.64 | $5.03 | $5.71 | $4.55 | $3.39 | $2.74 | $2.64 | $2.54 | $1.41 | $0.76 |
| Debt per share | $17.63 | $10.26 | $8.91 | $5.79 | $7.49 | $6.73 | $4.62 | $3.58 | $3.94 | $0.56 |
| Shares outstanding | 113.4M | 105.3M | 104.4M | 103.1M | 92.8M | 83.5M | 60.1M | 55.4M | 41.8M | 31.0M |
| Change in shares outstanding | +7.8% | +0.9% | +1.2% | +11.2% | +11.2% | +39.0% | +8.3% | +32.7% | +34.6% | −1.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 7.5% | −18.8% | −22.3% | −38.1% | −29.2% | −67.3% | −69.9% | −55.3% | −18.0% | −94.9% |
| Return on invested capital (ROIC) | 17.1% | −29.1% | −109.6% | −431.8% | — | — | −354.8% | −612.6% | — | — |
| Return on assets (ROA) | 4.1% | −11.0% | −14.5% | −26.9% | −20.6% | −45.1% | −49.1% | −40.9% | −12.8% | −45.6% |
| Return on tangible assets | 3.5% | −11.1% | −15.5% | −31.9% | −17.3% | −29.3% | −59.1% | −30.7% | −9.1% | −29.4% |
| Free cash flow margin | 17.6% | −17.6% | −71.3% | −138.8% | −137.2% | −489.7% | −212.3% | −347.4% | −19.3% | — |
| Income quality (OCF / net income) | 3.93 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $2.00B | $1.08B | $930.2M | $596.7M | $694.6M | $562.0M | $277.3M | $198.4M | $164.7M | $17.3M |
| Cash & short-term investments | $4.55B | $2.63B | $3.17B | $4.53B | $6.62B | $4.65B | $982.7M | $1.78B | $837.5M | $368.2M |
| Net debt | −$2.55B | −$1.55B | −$2.24B | −$3.94B | −$5.92B | −$4.09B | −$705.4M | −$1.58B | −$672.8M | −$350.9M |
| Debt / equity | 0.46 | 0.32 | 0.26 | 0.14 | 0.11 | 0.15 | 0.29 | 0.11 | 0.24 | 0.05 |
| Debt / assets | 0.24 | 0.18 | 0.16 | 0.09 | 0.08 | 0.10 | 0.17 | 0.09 | 0.16 | 0.04 |
| Net debt / EBITDA | −4.13 | — | — | — | — | — | — | — | — | — |
| Current ratio | 3.41 | 1.80 | 2.32 | 3.55 | 4.76 | 4.61 | 3.78 | 7.89 | 6.09 | 10.68 |
| Quick ratio | 3.08 | 1.58 | 2.09 | 3.35 | 4.61 | 4.53 | 3.69 | 7.82 | 6.02 | 10.68 |
| Interest coverage | 7.7 | -26.1 | -276.7 | -34.1 | — | — | — | -50.6 | -24.0 | -305.6 |
| Working capital | $4.40B | $1.78B | $2.39B | $3.74B | $6.01B | $3.89B | $862.4M | $1.70B | $763.5M | $339.3M |
| Invested capital | $1.81B | $1.78B | $1.30B | $445.2M | $209.6M | −$219.5M | $256.8M | $170.6M | $11.4M | $2.0M |
| Tangible asset value | $4.30B | $3.20B | $3.43B | $4.29B | $6.03B | $3.82B | $972.4M | $1.70B | $664.4M | $352.9M |
| Net current asset value | $2.41B | $1.40B | $1.94B | $3.21B | $5.21B | $3.23B | $538.8M | $1.45B | $551.2M | $321.5M |
| Graham number | $46.77 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | $14.89 | $7.77 | $13.50 | $27.43 | $50.77 | $36.05 | $6.93 | $24.00 | $12.03 | $10.15 |
| Capital allocation | ||||||||||
| Capex / revenue | 3.5% | 13.9% | 24.3% | 33.1% | 26.8% | 74.2% | 37.0% | 71.1% | 24.6% | 2,196.4% |
| Capex / operating cash flow | 16.5% | — | — | — | — | — | — | — | 460.5% | — |
| Capex / depreciation | 1.31 | 3.08 | 6.80 | 7.08 | 6.78 | 7.20 | 8.52 | 13.56 | 12.34 | 12.31 |
| Stock-based compensation / revenue | 9.6% | 11.6% | 15.0% | 21.4% | 20.5% | 59.4% | 31.3% | 44.0% | 18.0% | 993.0% |
| R&D / revenue | 40.2% | 51.3% | 72.3% | 115.9% | 124.1% | 419.2% | 216.6% | 342.6% | 112.8% | 9,162.0% |
| SG&A / revenue | 39.0% | 48.1% | 61.3% | 90.3% | 84.2% | 194.3% | — | 98.6% | 26.3% | 1,878.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 54.5 | 52.9 | 44.2 | 90.1 | 87.0 | 77.6 | 51.4 | 72.8 | 45.1 | — |
| Days of inventory on hand | 301.2 | 279.9 | 335.5 | 334.4 | 367.3 | 304.4 | 114.8 | 7.0 | 14.6 | — |
| Days payables outstanding | 241.3 | 221.2 | 293.0 | 355.0 | 547.1 | 915.5 | 604.4 | 47.2 | 54.4 | 39.0 |
| Cash conversion cycle (days) | 114.3 | 111.6 | 86.7 | 69.6 | -92.8 | -533.5 | -438.2 | 32.6 | 5.2 | — |
| Receivables turnover | 6.70 | 6.90 | 8.27 | 4.05 | 4.20 | 4.71 | 7.10 | 5.01 | 8.10 | — |
| Payables turnover | 1.51 | 1.65 | 1.25 | 1.03 | 0.67 | 0.40 | 0.60 | 7.73 | 6.70 | 9.36 |
| Inventory turnover | 1.21 | 1.30 | 1.09 | 1.09 | 0.99 | 1.20 | 3.18 | 52.09 | 25.07 | — |
| Asset turnover | 0.76 | 0.65 | 0.40 | 0.19 | 0.17 | 0.09 | 0.22 | 0.12 | 0.33 | 0.00 |
| Average receivables | $798.0M | $552.5M | $297.4M | $349.6M | $280.3M | $65.6M | $60.3M | $39.5M | $29.4M | — |
| Average payables | $442.0M | $360.1M | $304.9M | $278.6M | $247.2M | $177.2M | $117.9M | $91.5M | $40.9M | $10.5M |
| Average inventory | $551.6M | $455.6M | $349.2M | $262.5M | $166.0M | $58.9M | $22.4M | $13.6M | $10.9M | — |
| Intangibles / total assets | 0.8% | 2.2% | 1.9% | 1.5% | 1.2% | 1.0% | 0.4% | 2.3% | 1.9% | 0.0% |
Computed from ONC's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ONC valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), BeiGene traded at 120.1 times earnings. Based on the latest twelve months, the trailing P/E is 66.0 and the forward P/E is 35.2. BeiGene earned a return on equity of 7.5% and a return on invested capital of 17.1% in fiscal 2025. It ended the year with $2.0 billion of debt and $4.5 billion in cash and short-term investments, a net cash position of $2.5 billion. The share count rose 265.4% from 31.0M to 113.4M over 9 years.
See the ONC income statement, the ONC chart for price history, or the ONC stock overview for the latest quote and news.
ONC key metrics FAQ
What is BeiGene's P/E ratio?
BeiGene's trailing P/E ratio is 66.0 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 35.2. At the end of fiscal 2025 it was 120.1.
What is BeiGene's EV/EBITDA?
BeiGene's enterprise value was 51.8 times EBITDA at the end of fiscal 2025 (enterprise value $31.9 billion, EBITDA $616.8 million); the current EV/EBITDA is 33.7.
What is BeiGene's return on equity?
BeiGene's return on equity (ROE) was 7.5% in fiscal 2025: net income of $286.9 million on average shareholders' equity of $3.8 billion.
What is BeiGene's ROIC?
BeiGene's return on invested capital was 17.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does BeiGene have?
BeiGene had total debt of $2.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.46 and more cash than debt.
What is BeiGene's free cash flow yield?
BeiGene generated $941.7 million of free cash flow in fiscal 2025, a free cash flow yield of 2.7% on its market value at year-end ($34.5 billion).
What is BeiGene's current ratio?
BeiGene's current ratio was 3.41 at the end of fiscal 2025: current assets were 3.41 times current liabilities.