Beigene, Ltd.

Health Care
Biotechnology: Pharmaceutical Preparations
www.beigene.com

Moat Score
Safety Score

Market Cap $283.06B
PE -329
Debt $7.38B
Cash $2.71B
EV $287.72B
FCF -$994.57M

Earnings

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Sales & Net Margins

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Earnings	-$860.46M
EBIT	-$793.72M
ROE	-25%
ROA	-14%
FCF	-$994.57M
Equity	$3.44B
Growth Stability	1
PE	-328.96
PB	82.38
P/FCF	-284.6
P/S	85.34
Price/Cash	0.01
Debt/Equity	2.15
Debt/FCF	-7.42
Net Margins	-18%
Gross Margins	84%
Op. Margins	-24%
Sales Growth YoY	28%
Sales Growth QoQ	8%
Sales CAGR	109%
Equity CAGR	42%
Earnings Growth YoY	-156%

Earnings Growth QoQ	1%
Sales CAGR 5Y	69%
Equity CAGR 5Y	9%
Earnings CAGR 3Y	61%
Sales CAGR 3Y	61%
Equity CAGR 3Y	-21%
Market Cap	$283.06B
Revenue	$3.32B
Assets	$5.83B
Total Debt	$7.38B
Cash	$2.71B
Shares Outstanding	1.36B
EV	287.72B
Moat Score	3%
Safety Score	62%
Working Capital	1.89B
Current Ratio	1.93
Gross Profit	$2.78B
Shares Growth 3y	2%
Equity Growth QoQ	2%
Equity Growth YoY	-9%

Assets & ROA

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Stockholders Equity & ROE

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BeiGene Ltd is a commercial-stage biotechnology company. It is engaged in the discovery and development of molecularly targeted and immuno-oncology drugs for the treatment of cancer. The company has developed a proprietary cancer biology platform that addresses the importance of tumor-immune system interactions and the value of primary biopsies in developing new models to support its drug discovery effort. It has developed clinical-stage drug candidates that inhibit the important oncology targets Bruton's tyrosine kinase, or BTK; RAF dimer protein complex and PARP family of proteins, and an immuno-oncology agent that inhibits the immune checkpoint protein receptor PD-1. Its geographical segments are China, the United States, and the Rest of the world.

SEC Filings

Direct access to Beigene, Ltd. (BGNE) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Beigene, Ltd. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Beigene, Ltd. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Beigene, Ltd. Discounted Cash Flow

Fully customizable DCF calculator online for Beigene, Ltd..

Years

Calculation mode

= -$9.9B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$995M	-$9.9B
DCF		-$904M	-$822M	-$747M	-$679M	-$618M	-$561M	-$510M	-$464M	-$422M	-$383M	-$3.8B
Value	-$9.9B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-142%	-648%	-11K%	-39%	-340%	-222%	-518%	-120%	-142%	-36%	-18%
ROA	-	-49%	-29%	-9%	-30%	-58%	-29%	-16%	-28%	-14%	-14%
ROE	-	56%	-34%	-14%	-38%	-97%	-41%	-23%	-46%	-25%	-25%

Bad Net Margins (-18.38%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-0.15	-0.55	-0.08	-0.1	-2.42	-2.57	-2.04	-3.66	-7.42
Debt over Equity	-	-	0.05	0.03	0.03	0.09	0.87	0.64	0.85	1.78	2.15
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-7.42)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Bad Debt/Equity ratio (2.15)

The company is overleveraged and has a bad balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-32%	-88%	22K%	-17%	116%	-28%	281%	20%	74%	69%
Earnings YoY growth	-	208%	109%	-22%	622%	41%	68%	-12%	42%	-56%	-
Equity YoY growth	-	92%	-447%	94%	156%	-44%	295%	61%	-30%	-19%	9%
FCF YoY growth	-	383%	150%	-70%	2K%	36%	67%	11%	17%	-6%	-