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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and BeOne Medicines Ltd. (ONC). Click either name above to swap in a different company.

BeOne Medicines Ltd. is the larger business by last-quarter revenue ($1.5B vs $1.4B, roughly 1.1× AMERICAN AXLE & MANUFACTURING HOLDINGS INC). BeOne Medicines Ltd. runs the higher net margin — 4.4% vs -5.4%, a 9.9% gap on every dollar of revenue. On growth, BeOne Medicines Ltd. posted the faster year-over-year revenue change (32.8% vs 0.2%). BeOne Medicines Ltd. produced more free cash flow last quarter ($379.8M vs $54.7M). Over the past eight quarters, BeOne Medicines Ltd.'s revenue compounded faster (41.2% CAGR vs -7.2%).

American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.

BeOne Medicines, formerly known as BeiGene, Ltd. is a multinational oncology company. It specializes in the development of drugs for cancer treatment.

AXL vs ONC — Head-to-Head

Bigger by revenue
ONC
ONC
1.1× larger
ONC
$1.5B
$1.4B
AXL
Growing faster (revenue YoY)
ONC
ONC
+32.6% gap
ONC
32.8%
0.2%
AXL
Higher net margin
ONC
ONC
9.9% more per $
ONC
4.4%
-5.4%
AXL
More free cash flow
ONC
ONC
$325.1M more FCF
ONC
$379.8M
$54.7M
AXL
Faster 2-yr revenue CAGR
ONC
ONC
Annualised
ONC
41.2%
-7.2%
AXL

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AXL
AXL
ONC
ONC
Revenue
$1.4B
$1.5B
Net Profit
$-75.3M
$66.5M
Gross Margin
10.2%
90.5%
Operating Margin
-2.4%
12.4%
Net Margin
-5.4%
4.4%
Revenue YoY
0.2%
32.8%
Net Profit YoY
-449.6%
143.8%
EPS (diluted)
$-0.62
$0.05

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AXL
AXL
ONC
ONC
Q4 25
$1.4B
$1.5B
Q3 25
$1.5B
$1.4B
Q2 25
$1.5B
$1.3B
Q1 25
$1.4B
$1.1B
Q4 24
$1.4B
$1.1B
Q3 24
$1.5B
$1.0B
Q2 24
$1.6B
$929.2M
Q1 24
$1.6B
$751.7M
Net Profit
AXL
AXL
ONC
ONC
Q4 25
$-75.3M
$66.5M
Q3 25
$9.2M
$124.8M
Q2 25
$39.3M
$94.3M
Q1 25
$7.1M
$1.3M
Q4 24
$-13.7M
$-151.9M
Q3 24
$10.0M
$-121.3M
Q2 24
$18.2M
$-120.4M
Q1 24
$20.5M
$-251.2M
Gross Margin
AXL
AXL
ONC
ONC
Q4 25
10.2%
90.5%
Q3 25
12.6%
86.1%
Q2 25
13.1%
87.5%
Q1 25
12.3%
85.2%
Q4 24
11.2%
85.8%
Q3 24
11.4%
83.0%
Q2 24
13.3%
85.1%
Q1 24
12.4%
83.4%
Operating Margin
AXL
AXL
ONC
ONC
Q4 25
-2.4%
12.4%
Q3 25
3.2%
11.5%
Q2 25
3.6%
6.7%
Q1 25
3.0%
1.0%
Q4 24
2.6%
-7.0%
Q3 24
2.8%
-12.0%
Q2 24
5.3%
-11.5%
Q1 24
4.8%
-34.8%
Net Margin
AXL
AXL
ONC
ONC
Q4 25
-5.4%
4.4%
Q3 25
0.6%
8.8%
Q2 25
2.6%
7.2%
Q1 25
0.5%
0.1%
Q4 24
-1.0%
-13.5%
Q3 24
0.7%
-12.1%
Q2 24
1.1%
-13.0%
Q1 24
1.3%
-33.4%
EPS (diluted)
AXL
AXL
ONC
ONC
Q4 25
$-0.62
$0.05
Q3 25
$0.07
$0.08
Q2 25
$0.32
$0.06
Q1 25
$0.06
$0.00
Q4 24
$-0.11
$-0.10
Q3 24
$0.08
$-0.09
Q2 24
$0.15
$-0.09
Q1 24
$0.17
$-0.19

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AXL
AXL
ONC
ONC
Cash + ST InvestmentsLiquidity on hand
$708.9M
$4.5B
Total DebtLower is stronger
$4.0B
$836.4M
Stockholders' EquityBook value
$640.0M
$4.4B
Total Assets
$6.7B
$8.2B
Debt / EquityLower = less leverage
6.31×
0.19×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AXL
AXL
ONC
ONC
Q4 25
$708.9M
$4.5B
Q3 25
$714.1M
$4.0B
Q2 25
$586.5M
$2.8B
Q1 25
$549.2M
$2.5B
Q4 24
$552.9M
$2.6B
Q3 24
$542.5M
$2.7B
Q2 24
$519.9M
$2.6B
Q1 24
$469.8M
$2.8B
Total Debt
AXL
AXL
ONC
ONC
Q4 25
$4.0B
$836.4M
Q3 25
$2.6B
Q2 25
$2.6B
Q1 25
$2.6B
Q4 24
$2.6B
Q3 24
$2.6B
Q2 24
$2.7B
Q1 24
$2.7B
Stockholders' Equity
AXL
AXL
ONC
ONC
Q4 25
$640.0M
$4.4B
Q3 25
$718.4M
$4.1B
Q2 25
$673.0M
$3.8B
Q1 25
$596.3M
$3.5B
Q4 24
$562.8M
$3.3B
Q3 24
$616.3M
$3.4B
Q2 24
$609.6M
$3.4B
Q1 24
$621.4M
$3.4B
Total Assets
AXL
AXL
ONC
ONC
Q4 25
$6.7B
$8.2B
Q3 25
$5.3B
$7.6B
Q2 25
$5.3B
$6.3B
Q1 25
$5.1B
$5.8B
Q4 24
$5.1B
$5.9B
Q3 24
$5.3B
$5.8B
Q2 24
$5.3B
$5.7B
Q1 24
$5.4B
$5.7B
Debt / Equity
AXL
AXL
ONC
ONC
Q4 25
6.31×
0.19×
Q3 25
3.61×
Q2 25
3.86×
Q1 25
4.38×
Q4 24
4.58×
Q3 24
4.28×
Q2 24
4.42×
Q1 24
4.40×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AXL
AXL
ONC
ONC
Operating Cash FlowLast quarter
$120.5M
$417.3M
Free Cash FlowOCF − Capex
$54.7M
$379.8M
FCF MarginFCF / Revenue
4.0%
25.4%
Capex IntensityCapex / Revenue
4.8%
2.5%
Cash ConversionOCF / Net Profit
6.28×
TTM Free Cash FlowTrailing 4 quarters
$155.1M
$941.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AXL
AXL
ONC
ONC
Q4 25
$120.5M
$417.3M
Q3 25
$143.3M
$402.6M
Q2 25
$91.9M
$263.6M
Q1 25
$55.9M
$44.1M
Q4 24
$151.2M
$75.2M
Q3 24
$143.6M
$188.4M
Q2 24
$142.8M
$-95.6M
Q1 24
$17.8M
$-308.6M
Free Cash Flow
AXL
AXL
ONC
ONC
Q4 25
$54.7M
$379.8M
Q3 25
$79.2M
$354.5M
Q2 25
$34.6M
$219.8M
Q1 25
$-13.4M
$-12.3M
Q4 24
$73.2M
$-17.3M
Q3 24
$70.4M
$54.7M
Q2 24
$94.0M
$-205.5M
Q1 24
$-30.2M
$-465.1M
FCF Margin
AXL
AXL
ONC
ONC
Q4 25
4.0%
25.4%
Q3 25
5.3%
25.1%
Q2 25
2.3%
16.7%
Q1 25
-0.9%
-1.1%
Q4 24
5.3%
-1.5%
Q3 24
4.7%
5.5%
Q2 24
5.8%
-22.1%
Q1 24
-1.9%
-61.9%
Capex Intensity
AXL
AXL
ONC
ONC
Q4 25
4.8%
2.5%
Q3 25
4.3%
3.4%
Q2 25
3.7%
3.3%
Q1 25
4.9%
5.0%
Q4 24
5.6%
8.2%
Q3 24
4.9%
13.3%
Q2 24
3.0%
11.8%
Q1 24
3.0%
20.8%
Cash Conversion
AXL
AXL
ONC
ONC
Q4 25
6.28×
Q3 25
15.58×
3.22×
Q2 25
2.34×
2.79×
Q1 25
7.87×
34.71×
Q4 24
Q3 24
14.36×
Q2 24
7.85×
Q1 24
0.87×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AXL
AXL

Driveline$748.4M54%
Other$345.7M25%
Metal Forming$289.8M21%

ONC
ONC

Segment breakdown not available.

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