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Side-by-side financial comparison of dLocal Ltd (DLO) and HUTCHMED (China) Ltd (HCM). Click either name above to swap in a different company.
dLocal Ltd is the larger business by last-quarter revenue ($337.9M vs $270.8M, roughly 1.2× HUTCHMED (China) Ltd). dLocal Ltd runs the higher net margin — 16.5% vs 0.7%, a 15.7% gap on every dollar of revenue. On growth, dLocal Ltd posted the faster year-over-year revenue change (65.2% vs -16.5%). dLocal Ltd produced more free cash flow last quarter ($99.8M vs $3.4M).
dLocal Limited is a Uruguayan financial technology company. It provides cross-border payments connecting global merchants to emerging markets.
HUTCHMED (China) LtdHCMEarnings & Financial Report
HUTCHMED (China) Ltd is a biopharmaceutical firm focused on discovering, developing and commercializing targeted and immunotherapies for oncology and immunological diseases. It operates across China and global markets, with multiple marketed oncology drugs and a robust pipeline of late-stage clinical candidates addressing unmet patient needs.
DLO vs HCM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $337.9M | $270.8M |
| Net Profit | $55.6M | $2.0M |
| Gross Margin | 34.3% | 37.7% |
| Operating Margin | 18.6% | -13.2% |
| Net Margin | 16.5% | 0.7% |
| Revenue YoY | 65.2% | -16.5% |
| Net Profit YoY | 87.3% | -83.6% |
| EPS (diluted) | $0.18 | $0.00 |
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.
| Q4 25 | $337.9M | $270.8M | ||
| Q3 25 | $282.5M | — | ||
| Q2 25 | — | $277.7M | ||
| Q1 25 | — | $324.5M | ||
| Q4 24 | $204.5M | — | ||
| Q3 24 | $185.8M | — | ||
| Q2 24 | — | $305.7M | ||
| Q2 23 | — | $532.9M |
| Q4 25 | $55.6M | $2.0M | ||
| Q3 25 | $141.3M | — | ||
| Q2 25 | — | $455.0M | ||
| Q1 25 | — | $11.9M | ||
| Q4 24 | $29.7M | — | ||
| Q3 24 | $90.8M | — | ||
| Q2 24 | — | $25.8M | ||
| Q2 23 | — | $168.6M |
| Q4 25 | 34.3% | 37.7% | ||
| Q3 25 | 36.5% | — | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | — | 41.1% | ||
| Q2 23 | — | 0.0% |
| Q4 25 | 18.6% | -13.2% | ||
| Q3 25 | 19.7% | — | ||
| Q2 25 | — | -1.3% | ||
| Q1 25 | — | -5.0% | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | — | -9.0% | ||
| Q2 23 | — | 21.0% |
| Q4 25 | 16.5% | 0.7% | ||
| Q3 25 | 50.0% | — | ||
| Q2 25 | — | 163.8% | ||
| Q1 25 | — | 3.7% | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 48.9% | — | ||
| Q2 24 | — | 8.4% | ||
| Q2 23 | — | 31.6% |
| Q4 25 | $0.18 | $0.00 | ||
| Q3 25 | $0.17 | — | ||
| Q2 25 | — | $0.52 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | $0.09 | — | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | — | $0.03 | ||
| Q2 23 | — | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $719.9M | $1.4B |
| Total DebtLower is stronger | $86.7M | $93.2M |
| Stockholders' EquityBook value | $569.4M | $1.2B |
| Total Assets | $1.5B | $1.8B |
| Debt / EquityLower = less leverage | 0.15× | 0.08× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $719.9M | $1.4B | ||
| Q3 25 | $604.5M | — | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $836.1M | ||
| Q4 24 | $425.2M | — | ||
| Q3 24 | $560.5M | — | ||
| Q2 24 | — | $802.5M | ||
| Q2 23 | — | $856.2M |
| Q4 25 | $86.7M | $93.2M | ||
| Q3 25 | $63.1M | — | ||
| Q2 25 | — | $93.4M | ||
| Q1 25 | — | $82.8M | ||
| Q4 24 | $39.8M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $82.1M | ||
| Q2 23 | — | $40.1M |
| Q4 25 | $569.4M | $1.2B | ||
| Q3 25 | $504.7M | — | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $759.9M | ||
| Q4 24 | $489.0M | — | ||
| Q3 24 | $457.0M | — | ||
| Q2 24 | — | $740.1M | ||
| Q2 23 | — | $782.0M |
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $1.3B | ||
| Q2 23 | — | $1.3B |
| Q4 25 | 0.15× | 0.08× | ||
| Q3 25 | 0.12× | — | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.11× | ||
| Q2 23 | — | 0.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $100.4M | $8.2M |
| Free Cash FlowOCF − Capex | $99.8M | $3.4M |
| FCF MarginFCF / Revenue | 29.5% | 1.2% |
| Capex IntensityCapex / Revenue | 0.2% | 1.8% |
| Cash ConversionOCF / Net Profit | 1.80× | 4.21× |
| TTM Free Cash FlowTrailing 4 quarters | $378.7M | $-96.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.4M | $8.2M | ||
| Q3 25 | $315.0M | — | ||
| Q2 25 | — | $-72.9M | ||
| Q1 25 | — | $40.3M | ||
| Q4 24 | $-141.1M | — | ||
| Q3 24 | $108.3M | — | ||
| Q2 24 | — | $-39.8M | ||
| Q2 23 | — | $226.4M |
| Q4 25 | $99.8M | $3.4M | ||
| Q3 25 | $313.4M | — | ||
| Q2 25 | — | $-82.2M | ||
| Q1 25 | — | $32.5M | ||
| Q4 24 | $-141.6M | — | ||
| Q3 24 | $107.1M | — | ||
| Q2 24 | — | $-49.9M | ||
| Q2 23 | — | $202.0M |
| Q4 25 | 29.5% | 1.2% | ||
| Q3 25 | 110.9% | — | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | -69.2% | — | ||
| Q3 24 | 57.6% | — | ||
| Q2 24 | — | -16.3% | ||
| Q2 23 | — | 37.9% |
| Q4 25 | 0.2% | 1.8% | ||
| Q3 25 | 0.6% | — | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | — | 3.3% | ||
| Q2 23 | — | 4.6% |
| Q4 25 | 1.80× | 4.21× | ||
| Q3 25 | 2.23× | — | ||
| Q2 25 | — | -0.16× | ||
| Q1 25 | — | 3.38× | ||
| Q4 24 | -4.75× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | — | -1.54× | ||
| Q2 23 | — | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
